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Saturday, 24 March 2007

Borders Group Inc. intends to sell its Australasian outlets, reports Danny John in The Sydney Morning Herald.

Seems as though lower returns in the U.S. has caused the profitable Australian and New Zealand operations to stagnate. Australian operations reported 25 per cent growth last year. There are 24 outlets in Australia with four new outlets set to open this year in Australia. There are four outlets in New Zealand.

Apparently "intense competition" in the U.S. "has severely curtailed group profits".

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