Borders Reports More Bad News on Holiday Earnings

Breaking with tradition -- and its competitors -- Borders's (BGP) newest earnings report expands the definition of its holiday season to extend from November 1 to January 16. But the extra two weeks can't hide yet more dismal news. The bookstore chain's sales for the 11-week period were $649.2 million: a 14.7% drop from last year. Comparable store sales dropped 14.6%. The news improves a little bit, once the bottomed-out multimedia and DVD market is taken into account -- with "only" a 10.9% drop.