The Consumerist, a website published by the parent of Consumer Reports, has a potential lead on an alleged development at Borders Group (NYSE: BGP). Forgive all the wishy-washy verbiage; nothing is confirmed yet. An individual identifying him/herself as a Borders employee informed the website that the chain is severely paring down its CD and DVD sections, leaving only top sellers and reducing the prices of those. Said alleged employee also encourages shoppers to wait for deep-discount sales of remaining digital inventory in the coming weeks.
On one hand (or on many hands), this makes sense. The advent of MP3 technology, Amazon.com (NASDAQ: AMZN), Netflix (NASDAQ: NFLX), and file-sharing services have seen bigger and better CD/DVD outlets (e.g. Tower Records - SOB!) go belly up, so why wouldn't Borders focus all of its energy on its more popular books line?
And it's not as though Borders isn't in need of a face lift. The stock is in penny-stock territory, is reportedly facing delisting, has seen slumping sales, and - worst of all for this Windy City BGP fan - is closing its Michigan Avenue location in Chicago come 2010.
So keep an eye on your local Borders. You may be able to scoop up that copy of Practical Magic at a deep discount, indeed.
Beth Gaston Moon works for WeSeed.com, "The stock market for the rest of us." The above comments are not intended as trading or investment advice.
So keep an eye on your local Borders. You may be able to scoop up that copy of Practical Magic at a deep discount, indeed.
Beth Gaston Moon works for WeSeed.com, "The stock market for the rest of us." The above comments are not intended as trading or investment advice.
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Reader Comments (Page 1 of 1)
3-25-2009 @ 4:23PM
joe said...
Nice title.
3-25-2009 @ 4:43PM
Sebastian Sauced said...
its still on typho on the link on engdaget
3-25-2009 @ 5:38PM
Mike O said...
They might as well stop selling them. I haven't bought one there in years because they are so overpriced.
Who on earth charges full retail price for Blu-ray discs? Answer: Borders.
3-26-2009 @ 10:41PM
Sissy Franklin said...
It is true they will discontinue CD and DVD stock.
They have been emailing Borders Rewards Members 50% off notices (thru 4/20/09). I asked a store employee about this (Borders, Mall of Georgia, Buford, Georgia) and they confirmed they will discontinue. They were way overpriced anyways even with their supposed "discounts"