April 1, 2009, 12:00 AM

Borders’ Q4 web sales reach $26.4 million, 2.4% of Borders` total sales

Web sales at Borders reached $26.4 million in the fourth quarter, 2.4% of Borders’ total Q4 sales of $1.08 billion. Because Borders took over operation of its web site last year from Amazon, the company did not report Q4 web sales from the year earlier.

Katie Evans

Managing Editor, International Research

E-commerce sales at Borders Group Inc. reached $26.4 million in the fourth quarter, equaling 2.4% of Borders’ total Q4 sales of $1.08 billion. Because Borders took over operation of its web site last year from Amazon.com Inc., the company did not report Q4 e-commerce sales from the year earlier. Total Q4 sales were down 12.9% from a year earlier.

As a proportion of the $842.5 million in sales at Borders stores, excluding Waldenbooks sales and international sales, the web accounted for 3.1% of sales.

Web sales reached $45.7 billion for the eight months of 2008 that Borders operated its own web site. Full-year sales at Borders were $3.2 billion, down 8.8% from 2007.

Net income in the fourth quarter was $29.6 million, less than half the net income of $64.7 million from a year earlier. For the full year, Borders’ recorded a net loss of $186.7 million compared to $157.4 million a year earlier.

In the fourth quarter, comparable store sales decreased by 15.3% at Borders stores and 4.7% at Waldenbooks stores. Book sales at Borders stores were down 11.7% and non-book sales down 21.1%.

For the year, Borders comparable-store sales decreased by 10.8%, with book sales down 8.2% and non-book sales down 16.1%. Waldenbooks comparable store sales were down 5.1%.

Borders operates 515 Borders stores and 386 Waldenbooks stores. It closed 112 Waldenbooks stores in 2008.

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