Borders widens fiscal Q1 loss - 5/30/2007 - Video Business
Fanny More  |  by www.videobusiness.com. All rights reserved. 16.07 | 23:24

--/a-->, Managing editor and online editor, Video Business
Now here s a title that should look spectacular on high-def. If you didn t see the movie in the theaters -- if you..

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Ariztical celebrated the May 29 DVD launch of its Eating Out 2 with a party at Eleven in West Hollywood, Calif. The gay sequel was released theatrically earlier this year.



The Chicago chapter of the Independent Dealers of Entertainment Assn. held its second annual Free For All retailer event at the People's Choice Video Express store in Waukegan, Ill.

Brothers Luke Wilson, Owen Wilson and Andrew Wilson visited the Blockbuster Video headquarters in Dallas with ThinkFilm execs the day after the premiere of their movie The Wendell Baker Story, which began a limited theatrical run on May 18.


MAY 30 | Although generating flat sales compared to last year, Borders DVD category was among its better performing product areas during its fiscal 2007 first quarter.
The book chain reported a for the three-month period ended May 5. That is widened from the $20.

2 million Borders posted in the comparable 2006 period.
Revenue rose 2% to $876.8 million.


Borders officials noted that some softness can be attributed to slightly negative fall-offs in book sales and ongoing declines in music. DVD sales remained unchanged from the fiscal 2006 first quarter.
Gifts and stationary showed improvement on a comparable store basis.


Going forward, Borders CEO George Jones hopes the chain will soon begin to benefit from recent structural changes, which have included closing about a dozen Waldenbooks stores.
Previously, we have reported that 2007 would be a year of transition as we execute our long-term strategic plan for the turnaround of the company, said Jones. Our first-quarter results were generally in-line with our internal expectations, although the current sales environment was more challenging than we anticipated, and that trend has continued.


Borders adheres to accounting figures on a Generally Accepted Accounting Practices (GAAP) basis.

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