Borders New Store "Exceeding Expectations"

• Posted by ToddSullivan
• on February 24th, 2008

Borders (BGP) is “thrilled” with the response to its new concept store in Michigan.

“It’s running substantially ahead of our (sales) plans,” CEO George Jones said shortly after the 10 a.m. ribbon-cutting ceremony, which marked the grand opening of the nearly 29,000-square-foot store on Lohr Road, Ann Arbor.

“We are absolutely thrilled with the reaction we’re getting from customers, and that’s what it’s all about,” he said.

Pershing Square’s Bill Ackman recently upped his stake to over 25%, making Borders worth a very close look.

Disclosure (“none” means no position):None

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