Borders Group Consolidated Sales Increase 4.8% For Holiday 2004; Superstore Comparable Store Sales Up 1.4%.ANN ARBOR Ann Arbor, city (1990 pop. 109,592), seat of Washtenaw co., S Mich., on the Huron River; inc. 1851. It is a research and educational center, with a large number of government and industrial research and development firms, many in high-technology fields such as , Mich. -- Management Guides Toward High End of Q4 Consolidated Earnings Per Share Range Borders Group Inc. (NYSE NYSE See: New York Stock Exchange :BGP (Border Gateway Protocol) The routing protocol that is used to span autonomous systems on the Internet. It is a robust, sophisticated and scalable protocol that was developed by the Internet Engineering Task Force (IETF). ) today reported sales results for its fiscal fourth quarter to date (Oct. 25, 2004 through Jan. 9, 2005) that were higher than expected at Borders superstores. At $1.2 billion, total consolidated sales increased by 4.8% for the quarter-to-date over the same period last year. Sales within the Borders segment on a quarter-to-date basis were $763.0 million, which represents a 4.0% increase over the same period in 2003, driven by new store growth and comparable store sales gains. Waldenbooks generated quarter-to-date sales of $302.4 million, which is down 3.4% from last year, attributable primarily to store closures. Borders Group's International segment produced a 29.4% total sales increase for the quarter to date. Excluding the impact of foreign currency translation, total international sales would have increased 20.7%. Comparable store sales at Borders superstores were 1.4% for the period and were -1.6% at Waldenbooks. Based on these sales results, Borders Group management now expects consolidated earnings per share for the fourth quarter to range from $1.60 to $1.62, which is at the high end of the company's previous projection. "Overall, holiday 2004 was a bit better than expected in Borders superstores driven primarily by strength in book sales," said Borders Group Chief Executive Officer Greg Josefowicz. "This year, we saw sales improve later in the holiday season and those trends have continued, driven in part by gift card redemptions. We are gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. that our increased investment in marketing and promotions for the holiday period were successful at driving top-line results." 2004 Outlook As stated, consolidated earnings per share guidance for the fourth quarter is now $1.60 to $1.62 compared to previous guidance of $1.55 to $1.62. For the full year 2004, consolidated earnings per share are expected to be $1.69 to $1.72, compared to the previously issued consolidated earnings guidance range of $1.65 to $1.72 per share. These estimated ranges include the impact of non-operating adjustments projected to be an after-tax charge in the fourth quarter of $0.04 to $0.06 per share. Borders Group will issue final fourth quarter and full-year sales figures sales figures npl → cifras fpl de ventas , as well as initial guidance for fiscal 2005 on February 9 prior to market open. About Borders Group Headquartered in Ann Arbor, Mich., Borders Group is a leading global retailer of books, music and movies with more than 1,200 stores worldwide. More detailed information on the company is available at www.bordersgroupinc.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. One can identify these forward-looking statements by the use of words such as "projected," "expected," "estimated," "look," "continuing," "plans," "guidance," "will," "may," "intends," "anticipates," and other words of similar meaning. One can also identify them by the fact that they do not relate strictly to historical or current facts. These statements are likely to address matters such as the company's future financial performance (including sales and earnings guidance), its plans relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc store openings and closings and its intentions with respect to dividend payments and share repurchases Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. . These statements are subject to risks and uncertainties that could cause actual results and plans to differ materially from those included in the company's forward-looking statements. These risks and uncertainties include, but are not limited to, consumer demand for the company's products, particularly during the holiday season, which is believed to be related to general economic and geopolitical ge·o·pol·i·tics n. (used with a sing. verb) 1. The study of the relationship among politics and geography, demography, and economics, especially with respect to the foreign policy of a nation. 2. a. conditions, weather, and other factors; changes in accounting rules; asset impairments relating to under-performing stores or other unusual items; an unexpected increase in competition; uninsured losses from risks such as terrorism, earthquakes, or floods for which no, or limited, insurance coverage is maintained; higher than anticipated interest costs; energy disruptions, shortages or higher than anticipated energy costs; adverse litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. expenses or results; unanticipated work stoppages or increased labor costs; higher than anticipated merchandise or occupancy costs; the performance of the company's strategic initiatives, including international expansion; the stability and capacity of the company's information systems; and changes in foreign currency exchange rates. Exhibit 99.1 to the company's Form 10-Q Form 10-Q See 10-Q. for the fiscal quarter ended Oct. 24, 2004 filed with the Securities and Exchange Commission sets forth a more detailed discussion of these and other risk factors that could cause actual results and plans to differ materially from those included in the forward-looking statements, and that discussion is incorporated herein by reference. The company does not undertake any obligation to update forward-looking statements. |
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