BUSINESS BRIEFING / EARNINGS
Times Wire Reports
Bookseller Borders Group Inc. says its net loss widened in its fiscal first quarter because of continually weakening sales and more than $70 million in after-tax charges.
The Ann Arbor, Mich., company reported a loss of $86 million, or $1.44 a share, for the quarter, which ended May 2.
That compares with a loss of $31.7 million, or 50 cents, a year earlier.
Sales fell more than 12% to $641.5 million.
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