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NEWS: Borders Reports US$300 Million Loss in Fiscal 2010


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here-and-faraway



Joined: 21 Jun 2007
Posts: 1211
Location: Sunny California

PostPosted: Mon May 02, 2011 10:50 pm Reply with quote
$300 million dollars. Wow. Anime dazed
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Teriyaki Terrier



Joined: 26 Mar 2008
Posts: 5689

PostPosted: Mon May 02, 2011 11:10 pm Reply with quote
here-and-faraway wrote:
$300 million dollars. Wow. @_@


This is why I think they may be eventually forced (due to this crazy amount of money that they are continuing to loss) to file chapter seven, if they didn't already.

But considering there is no longer a Borders anywhere I am, for better or worse, this news doesn't effect me.

It really does seem that the era of bookstores is slowly coming to a close. Maybe not now, but it is possible in the next decade, maybe even much earlier.

But at least Barns and Nobles is still around. For now at least.
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firedragon54738



Joined: 24 Sep 2007
Posts: 2359
Location: wisconsin

PostPosted: Mon May 02, 2011 11:52 pm Reply with quote
Dam 300 mill no wounder Tokyo Pop when belly up thank borders
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littlegreenwolf



Joined: 10 Aug 2002
Posts: 4621
Location: Boston

PostPosted: Tue May 03, 2011 12:28 am Reply with quote
Teriyaki Terrier wrote:
It really does seem that the era of bookstores is slowly coming to a close. Maybe not now, but it is possible in the next decade, maybe even much earlier.


Maybe it's just me because I never lived anywhere with a Borders, but I just don't understand why people are jumping to conclusions like bookstores in general are going out of business because Borders made a bunch of bad business moves. Barnes and Noble is doing fine (they never seriously branched out into multimedia like Borders) and so is Booksamillion, and in some areas independent bookstores are doing better than they have in years. Borders going down doesn't mean jack for the book industry. I spend most of my income on books, and have never set foot inside a Borders. Yeah, the industry is going to have to make some changes to make money with digital books as well as traditional format, but Barnes and Noble is doing a fine job at it.
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NGK



Joined: 10 Mar 2010
Posts: 121

PostPosted: Tue May 03, 2011 1:20 am Reply with quote
$300 million

holy crap Shocked

... and it's no wonder Tokyopop is closing its North American division.
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TsukasaElkKite



Joined: 22 Nov 2005
Posts: 1794

PostPosted: Tue May 03, 2011 1:34 am Reply with quote
300 million...holy crap. Shocked
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dlian



Joined: 09 Dec 2010
Posts: 8

PostPosted: Tue May 03, 2011 1:41 am Reply with quote
ummm. Actually, they aren't doing that great at all


Barnes and Noble has had declining sales and management problems. The company put itself up for sale last august, but no buyers have emerged.

http://www.businessweek.com/​news/​2011-​03-​25/​no-​buyers-​for-​barnes-​noble-​at-​60-​cents-​on-​dollar-​real-​m-​a.​html

The chart on the following page shows their share price dropping 70.63 percent.

http://money.cnn.com/​quote/​quote.​html?​symb=​BKS


Booksamillion has had declining sales and profits, as well.

http://biz.yahoo.com/​e/​110414/​bamm10-​k.​html
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potatochobit



Joined: 26 Aug 2009
Posts: 1288
Location: TEXAS

PostPosted: Tue May 03, 2011 2:21 am Reply with quote
barnes and nobles follows the exact same business model

true, they don't branch out as much as borders did, which was silly
I even had worries about the company failing many years ago
the real estate and labor costs probably were very high per city
but honestly, what did them in is their high sticker prices and not realizing their customer pool was actually very small
I tried to support them since they had a large manga selection and I liked how they tried to even bring in toys and other stuff

instead of the buy 4 get 1 free or whatever they did, they should have just took a dollar or two off each volume and I think they would have sold a lot more. charging full retail prices is just absurd with places like amazon offering discounts and free shipping. Books are usually not a commodity people need instantly. Honestly, I did buy alot of spontaneous and new release manga from them. But I definitely kept an eye on prices and I don't think I bought a single anime disc.
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Sunday Silence



Joined: 22 Jun 2010
Posts: 2047

PostPosted: Tue May 03, 2011 3:41 am Reply with quote
I'm gonna call it; Chapter 7 by the end of Summer/beginning of Fall. Unless they prep for Christmas NOW, they're boned. Probably too busy with "other things."

firedragon54738 wrote:
Dam 300 mill no wounder Tokyo Pop when belly up thank borders


NGK wrote:
$300 million

holy crap Shocked

... and it's no wonder Tokyopop is closing its North American division.


Did DJ Milky pay you to say that, or are you just sockpuppets? TOKYOPOP was in dire straits even before Borders decided to kick the bucket, no thanks to DJ Milky's OCD problem.

potatochobit wrote:
instead of the buy 4 get 1 free or whatever they did, they should have just took a dollar or two off each volume and I think they would have sold a lot more. charging full retail prices is just absurd with places like amazon offering discounts and free shipping.


It's all how you say it....

And in other news.....if your a Borders Rewards Member......they had a "security breach" after their employees posted the fact that the lookup system for Borders Rewards could be accessed from "outside" computers.
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population_tire



Joined: 31 May 2007
Posts: 537

PostPosted: Tue May 03, 2011 7:45 am Reply with quote
1. Buy Spider-Man from Sony
2. Make a movie
3. Make that much on opening weekend
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shadow13



Joined: 02 Dec 2010
Posts: 111

PostPosted: Tue May 03, 2011 4:19 pm Reply with quote
Quote:
The Publishers Weekly industry news source attributes some of these difficulties to publishers' unwillingness to work with Borders "on anything close to normal business terms," forcing the chain to pay for stock in cash rather than credit.

I wonder why the publishers are not using normal business terms? Do they have something to gain by forcing borders into bankruptcy and possible out of business?
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Covnam



Joined: 31 May 2005
Posts: 509

PostPosted: Tue May 03, 2011 4:56 pm Reply with quote
shadow13 wrote:
Quote:
The Publishers Weekly industry news source attributes some of these difficulties to publishers' unwillingness to work with Borders "on anything close to normal business terms," forcing the chain to pay for stock in cash rather than credit.

I wonder why the publishers are not using normal business terms? Do they have something to gain by forcing borders into bankruptcy and possible out of business?


No, but they have something to lose. They're simply asking to be paid first for their products instead of providing their product for credit and getting paid later. Basically they don't trust that Borders will ever pay them back if they don't pay up front.
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asimpson2006



Joined: 13 May 2008
Posts: 3150
Location: USA

PostPosted: Tue May 03, 2011 6:24 pm Reply with quote
Sunday Silence wrote:
."

firedragon54738 wrote:
Dam 300 mill no wounder Tokyo Pop when belly up thank borders


NGK wrote:
$300 million

holy crap Shocked

... and it's no wonder Tokyopop is closing its North American division.


Did DJ Milky pay you to say that, or are you just sockpuppets? TOKYOPOP was in dire straits even before Borders decided to kick the bucket, no thanks to DJ Milky's OCD problem.


Borders losing a lot of money and not paying them (TP) also was part of what did Tokyopop in. It was not all Stu Levy's fault.
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Weiss_Yohji



Joined: 17 Aug 2010
Posts: 115

PostPosted: Tue May 03, 2011 6:47 pm Reply with quote
Teriyaki Terrier wrote:
It really does seem that the era of bookstores is slowly coming to a close. Maybe not now, but it is possible in the next decade, maybe even much earlier.

I blame Kindle. Damn e-readers are a threat to books! We should get rid of e-readers! Burn them as witches for killing books!
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Youkai Warrior



Joined: 07 Aug 2008
Posts: 505
Location: Sarayashiki

PostPosted: Tue May 03, 2011 7:16 pm Reply with quote
This is not good news. I am now worried for Borders, as that's where I buy most my merch. However, I have nothing against Barnes and Noble, and do shop there sometimes. If worse comes to worse, there will always be B&N, but I still feel for Borders and will miss it if it goess, which, unfortunately, I think will be sometime in the future. Sad

Quote:


Maybe it's just me because I never lived anywhere with a Borders, but I just don't understand why people are jumping to conclusions like bookstores in general are going out of business because Borders made a bunch of bad business moves. Barnes and Noble is doing fine (they never seriously branched out into multimedia like Borders) and so is Booksamillion, and in some areas independent bookstores are doing better than they have in years. Borders going down doesn't mean jack for the book industry. I spend most of my income on books, and have never set foot inside a Borders. Yeah, the industry is going to have to make some changes to make money with digital books as well as traditional format, but Barnes and Noble is doing a fine job at it.


I don't get this either. Just because Borders is having trouble, doesn't mean that every bookstore is going to go down. There is a local bookstore here where I live that is doing quite well, and Barnes and Noble is still around and still doing fine. As long as there are people who want to get out, there will still be stores. Who wants to be a basement-dwelling, do-nothing but use the computer person?

Quote:
I blame Kindle. Damn e-readers are a threat to books! We should get rid of e-readers! Burn them as witches for killing books!


I can't stand e-readers either. I don't care what anyone says, nothing can replace a real book in one's hands. I think the e-readers come in handy for when you're traveling, but I will not use it as a substitute for a real-life novel/book in my hands.
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