Borders Group Debuts on FORTUNE 500 List

Apr 02, 2001, 01:00 ET from Borders Group Inc.

    ANN ARBOR, Mich., April 2 /PRNewswire/ -- Borders Group Inc. (NYSE:   BGP),
 a leading global retailer of books, music and video, announced today that the
 company has been listed for the first time in FORTUNE magazine's ranking of
 the top 500 companies in the U.S.  Borders Group achieved record annual sales
 of $3.3 billion in 2000, which placed the company on the newly released
 FORTUNE 500 list at number 485.
     "Our inclusion in the FORTUNE 500 list is recognition of the growth we've
 achieved by remaining dedicated to our core business and its continued
 expansion," said Borders Group President and Chief Executive Officer Greg
 Josefowicz.  "We are pleased with the record sales performance our more than
 30,000 employees worldwide helped us to achieve.  We look forward to driving
 performance levels that will make us a perennial entry on the prestigious
 FORTUNE 500 list," he said.
     Borders Group operates Borders Books and Music stores, Waldenbooks and
 Borders.com , among other holdings.  Borders Books and Music stores were
 founded in 1971 by Tom and Louis Borders, who formed the chain beginning with
 one used bookshop near the campus of the University of Michigan in Ann Arbor.
 In 1933, Larry Hoyt opened a small rental library in Bridgeport, Conn., which
 later became Waldenbooks.  Kmart Corporation acquired Waldenbooks in 1984 and
 eight years later acquired Borders.  Kmart joined the two retail operations in
 1994 as Borders-Walden Group.  In 1995, Borders-Walden Group -- under the name
 Borders Group Inc. -- launched a highly successful initial public offering on
 the New York Stock Exchange.  Since the IPO, Borders Group has increased
 revenues by approximately 14 percent each year.
     Today, Borders Group, headquartered in Ann Arbor, Mich., operates
 approximately 350 Borders Books and Music stores worldwide, 869 Waldenbooks
 mall stores and Borders.com .  In addition, Borders Group has 31 Books etc.
 stores in the United Kingdom.
     Information for journalists is available at www.bgimediacenter.com .
 Financial data is hosted on www.bordersgroupinc.com and information on Borders
 stores is available through www.bordersstores.com .
 
     Safe Harbor Statement
     This release contains forward-looking statements within the meaning of the
 Private Securities Litigation Reform Act of 1995.  One can identify these
 forward-looking statements by the use of words such as "expects,"
 "anticipates," "plans," "looks forward," "agenda," "will," "estimates,"
 "believes," "may," "indicates," "forecasts," "focusing," "guidance,"
 "outlook," "projects," "initiatives," "strives," "seeks," "goals,"
 "anticipate," "looks," "should," and other words of similar meaning.  One can
 also identify them by the fact that they do not relate strictly to historical
 or current facts.  These statements are likely to address the company's growth
 strategy, future financial performance (including sales and earnings
 projections), shareholder value, share repurchases, strategic alternatives,
 potential partnership arrangements, marketing and expansion plans, retail
 convergence initiatives, such as the rollout of Title Sleuth, and related
 capabilities, and the impact of growth initiatives.  These statements are
 subject to risks and uncertainties that could cause actual results and plans
 to differ materially from those included in the company's forward-looking
 statements.  These risks and uncertainties include, but are not limited to,
 consumer demand for the company's products, particularly during the holiday
 season, which is believed to be related to general economic conditions,
 weather and other factors; an unexpected increase in competition; the
 continued availability of adequate capital to fund the company's operations;
 higher than anticipated interest costs; unanticipated adverse litigation
 expenses or results; unanticipated work stoppages or increased labor costs;
 higher than anticipated merchandise costs; the performance of the company's
 strategic initiatives, including retail convergence and international
 expansion; the stability and capacity of the company's information systems;
 changes in foreign currency exchange rates; and possible delays in the timing
 of the transitioning of fulfillment services to Ingram as a result of
 unanticipated systems problems or other factors.  Exhibit 99.1 to company's
 Form 10-Q Report for the fiscal quarter ended October 22, 2000 filed with the
 Securities and Exchange Commission sets forth a more detailed discussion of
 these and other risk factors that could cause actual results and plans to
 differ materially from those included in the forward-looking statements, and
 that discussion is incorporated herein by reference.  The company does not
 undertake any obligation to update forward-looking statements.
 
 

SOURCE Borders Group Inc.
    ANN ARBOR, Mich., April 2 /PRNewswire/ -- Borders Group Inc. (NYSE:   BGP),
 a leading global retailer of books, music and video, announced today that the
 company has been listed for the first time in FORTUNE magazine's ranking of
 the top 500 companies in the U.S.  Borders Group achieved record annual sales
 of $3.3 billion in 2000, which placed the company on the newly released
 FORTUNE 500 list at number 485.
     "Our inclusion in the FORTUNE 500 list is recognition of the growth we've
 achieved by remaining dedicated to our core business and its continued
 expansion," said Borders Group President and Chief Executive Officer Greg
 Josefowicz.  "We are pleased with the record sales performance our more than
 30,000 employees worldwide helped us to achieve.  We look forward to driving
 performance levels that will make us a perennial entry on the prestigious
 FORTUNE 500 list," he said.
     Borders Group operates Borders Books and Music stores, Waldenbooks and
 Borders.com , among other holdings.  Borders Books and Music stores were
 founded in 1971 by Tom and Louis Borders, who formed the chain beginning with
 one used bookshop near the campus of the University of Michigan in Ann Arbor.
 In 1933, Larry Hoyt opened a small rental library in Bridgeport, Conn., which
 later became Waldenbooks.  Kmart Corporation acquired Waldenbooks in 1984 and
 eight years later acquired Borders.  Kmart joined the two retail operations in
 1994 as Borders-Walden Group.  In 1995, Borders-Walden Group -- under the name
 Borders Group Inc. -- launched a highly successful initial public offering on
 the New York Stock Exchange.  Since the IPO, Borders Group has increased
 revenues by approximately 14 percent each year.
     Today, Borders Group, headquartered in Ann Arbor, Mich., operates
 approximately 350 Borders Books and Music stores worldwide, 869 Waldenbooks
 mall stores and Borders.com .  In addition, Borders Group has 31 Books etc.
 stores in the United Kingdom.
     Information for journalists is available at www.bgimediacenter.com .
 Financial data is hosted on www.bordersgroupinc.com and information on Borders
 stores is available through www.bordersstores.com .
 
     Safe Harbor Statement
     This release contains forward-looking statements within the meaning of the
 Private Securities Litigation Reform Act of 1995.  One can identify these
 forward-looking statements by the use of words such as "expects,"
 "anticipates," "plans," "looks forward," "agenda," "will," "estimates,"
 "believes," "may," "indicates," "forecasts," "focusing," "guidance,"
 "outlook," "projects," "initiatives," "strives," "seeks," "goals,"
 "anticipate," "looks," "should," and other words of similar meaning.  One can
 also identify them by the fact that they do not relate strictly to historical
 or current facts.  These statements are likely to address the company's growth
 strategy, future financial performance (including sales and earnings
 projections), shareholder value, share repurchases, strategic alternatives,
 potential partnership arrangements, marketing and expansion plans, retail
 convergence initiatives, such as the rollout of Title Sleuth, and related
 capabilities, and the impact of growth initiatives.  These statements are
 subject to risks and uncertainties that could cause actual results and plans
 to differ materially from those included in the company's forward-looking
 statements.  These risks and uncertainties include, but are not limited to,
 consumer demand for the company's products, particularly during the holiday
 season, which is believed to be related to general economic conditions,
 weather and other factors; an unexpected increase in competition; the
 continued availability of adequate capital to fund the company's operations;
 higher than anticipated interest costs; unanticipated adverse litigation
 expenses or results; unanticipated work stoppages or increased labor costs;
 higher than anticipated merchandise costs; the performance of the company's
 strategic initiatives, including retail convergence and international
 expansion; the stability and capacity of the company's information systems;
 changes in foreign currency exchange rates; and possible delays in the timing
 of the transitioning of fulfillment services to Ingram as a result of
 unanticipated systems problems or other factors.  Exhibit 99.1 to company's
 Form 10-Q Report for the fiscal quarter ended October 22, 2000 filed with the
 Securities and Exchange Commission sets forth a more detailed discussion of
 these and other risk factors that could cause actual results and plans to
 differ materially from those included in the forward-looking statements, and
 that discussion is incorporated herein by reference.  The company does not
 undertake any obligation to update forward-looking statements.
 
 SOURCE  Borders Group Inc.

RELATED LINKS

http://www.borders.com