{"id":269876,"date":"2009-04-02T13:52:51","date_gmt":"2009-04-02T13:52:51","guid":{"rendered":"http:\/\/www.wdev.rochester.edu\/College\/translation\/threepercent-dev\/2009\/04\/02\/i-dont-think-this-was-an-april-fools-joke\/"},"modified":"2018-04-16T17:24:10","modified_gmt":"2018-04-16T17:24:10","slug":"i-dont-think-this-was-an-april-fools-joke","status":"publish","type":"post","link":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/2009\/04\/02\/i-dont-think-this-was-an-april-fools-joke\/","title":{"rendered":"I Don't Think This Was an April Fools Joke"},"content":{"rendered":"

But maybe Borders wishes it was . . . From PW<\/em><\/a><\/p>\n

\n

A series of one-time charges and lower sales lead to a loss from continuing operations of $184.7 million at Borders Group for the year ended January 31 compared to a loss of $19.9 million in the previous year. Total revenue declined 8.9%, to $3.27 billion. Sales fell 9.4% at the company\u2019s superstores in the year, to $2.65 billion, and declined 14.7% at Waldenbook Specialty Retail, to $480.0 million. Comp sales were down 10.8% at the superstores for the full year, with book comps off 8.2% and non-book sales down 16.1%. Walden comps were off 5.1%.<\/p>\n<\/blockquote>\n

As a result, Borders stock soared from $.63 to $1.05, which is precisely why I don’t understand the stock market. Here’s a one-liner from Forbes<\/em><\/a> explaining why Borders was a “big mover” on Wall St. yesterday:<\/p>\n

\n

The operator of more than 900 book stores will cut its costs by another $120 million and it expects sales to keep sliding in 2009.<\/p>\n<\/blockquote>\n

Huh.<\/p>\n","protected":false},"excerpt":{"rendered":"

But maybe Borders wishes it was . . . From PW A series of one-time charges and lower sales lead to a loss from continuing operations of $184.7 million at Borders Group for the year ended January 31 compared to a loss of $19.9 million in the previous year. Total revenue declined 8.9%, to $3.27 […]<\/p>\n","protected":false},"author":292,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[67486],"tags":[7006,1836,21816],"class_list":["post-269876","post","type-post","status-publish","format-standard","hentry","category-articles","tag-borders","tag-cwp","tag-stock-market-is-crazy"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/posts\/269876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/users\/292"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/comments?post=269876"}],"version-history":[{"count":1,"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/posts\/269876\/revisions"}],"predecessor-version":[{"id":353526,"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/posts\/269876\/revisions\/353526"}],"wp:attachment":[{"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/media?parent=269876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/categories?post=269876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/tags?post=269876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}