The company is developing a new prototype for its US superstoresthat will incorporate the latest digital technology. Remodels andnew store growth will be slowed until the new prototype makes itsdebut in 2008.
"What we need to do now is stop playing defense when a goodoffense is required," said George Jones, president and CEO. "Ourvision is to make Borders a headquarters for knowledge andentertainment. Our strategic plan will revitalize our USsuperstores."
The plan also will reduce expenditures on nearly all otherbusinesses to refocus on the superstores. The mall-basedWaldenbooks will be "right-sized," Jones said, to become a300-store chain after nonprofitable units are closed. Waldenbooksclosed 124 units last year. The surviving stores also will beremerchandised.
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