Borders, Barnes & Noble get a boost for the New Year
My email inbox this morning had the usual weekday email from Publishers Weekly, and it was chock full of news from the two largest booksellers in the US, Borders and Barnes & Noble. Now that the holidays are over and we are into 2009, many in the retail industry are probably taking stock of the dismal holiday shopping season and going into "survival mode" for the foreseeable future.
Let’s start with Borders first. It appears from this article that the struggling retail chain will be getting some new blood in management:
With its stock price trading below 50 cents and holiday sales down by double-digits, the Borders Group’s board of directors has replaced CEO George Jones with Ron Marshall, a retailing veteran whose background includes overseeing the turnaround of Pathmark and the Nash Finch Company. Marshall also held management positions with Crown Books and Barnes & Noble college stores.
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