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Anne Roman |
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Borders
Group Corrects First Quarter Results
ANN
ARBOR, Mich., June 7, 2006—Borders
Group, Inc. (NYSE:BGP) today announced that the company has corrected an error
in the calculation of gross margin within its International segment,
specifically in the Books etc. division. Correction of the error, most of which
relates to fiscal 2005, will
be
reflected in the results for the first quarter of fiscal 2006. As a result
of
the correction, the company’s consolidated earnings per share loss for the first
quarter will be $0.31, rather than the $0.29 previously reported in Borders
Group’s May 23 financial news release. The consolidated and segment financial
information included with the company’s May 23 news release will
be
revised in the company’s 10-Q filing June 8. Borders Group regrets the error and
is taking appropriate remedial steps.
About
Borders Group
Headquartered
in Ann Arbor, Mich., Borders Group, Inc. is a leading global retailer of books,
music and movies with more than 1,200 stores and approximately 35,000 employees
worldwide. More information on the company is available at www.bordersgroupinc.com.
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