Borders (in US) Gift Cards at Risk

[J. Strnad]

Thanks for the heads-up!

Yup, sounds like people had better use up those cards pronto.

One of the reasons I bought a Kindle was because people keep giving me Amazon gift cards (not that I'm complaining!). I used a couple to pay a good chunk of the price of the Kindle, and now I have a few new credits for books.

Borders stores (when you can find one) are very nice, but I can't say much for their management. They were extremely late to the online selling party, and now they seem to be clutching at straws to stay afloat.

[leaker]

I got a Borders gift card from my mom for Christmas. Luckily, I had received a Kindle 3 for Christmas also so I used a portion of the card to buy a carrying case for the eReader,(all cases were 50% off the day after Christmas too) then used the rest to buy a magazine. I guess I better hurry and spend that remaining 48 cents that's left.

I always enjoyed shopping at Borders, but the last couple years, I got frustrated with them always missing half the books in series that I wanted to read. Yes, I could have special ordered them, but when the ereaders came out, I knew that it would make my life a lot easier. Instead of searching for volumes, I can find most of them wirelessly in a few minutes.

[questionfear]

Originally Posted by Forster

Well that and a dieing business model. With contracting retail sales in B&M type of stores somebody is going to have to go so the others can survive a while longer. I'm not a big fan of bankruptcy (it does have its place). In this case one of the big chains going away will help strengthen the competition. Allow them to stay in business through bankruptcy and you are only going to hurt others such as B&N.

But whatever it's only a matter of time for both of them anyway.

Ironically my wife and son both got Borders gift cards from extended family this year. Never had gotten any before. We have to drive 2 hours to get to the nearest Borders. I had to do an internet search cause I didn't know where any Borders were.

It's too bad they didn't get an Amazon gift card like I got cause they'd already have their books.

Borders gift cards can be used online, so you can always order from their site.

B&N might survive fine, they're in better shape. Borders has been a shit company for years...when I worked for them (2000-2001 and then again from 2003-2006, the second time as management) they were all messed up then too. Basically they kept hiring CEOs and executives from other retail industries, all of whom tried to make Borders look like the industry the executive left. Grocers do not make good booksellers.

B&N hired from within and their CEO used to be the president of BN.com. Not a guarantee that B&N will do any better, but they at least have some adept at understanding technology and the very online-focused sales model.

Also, Borders spent millions and millions of dollars buying a british stationary company (Paperchase) then spent several million more reorganizing all the stores to fit the damn Paperchase sections in. None of which were successful, all of which sold shit no one needed or wanted. No one walks into Borders thinking "I need the new Tom Clancy, that history book the kids need for school, the new People magazine and a $15 cardboard box with purple spots on it."

Originally Posted by J. Strnad

Thanks for the heads-up!

Yup, sounds like people had better use up those cards pronto.

One of the reasons I bought a Kindle was because people keep giving me Amazon gift cards (not that I'm complaining!). I used a couple to pay a good chunk of the price of the Kindle, and now I have a few new credits for books.

Borders stores (when you can find one) are very nice, but I can't say much for their management. They were extremely late to the online selling party, and now they seem to be clutching at straws to stay afloat.

Ironically Borders had a website, waaaaay back in the 1990s, then they shut it down to run their site through Amazon.com, then decided that was dumb and reopened their own site. And that right there explains the "Throw it against the wall and see what sticks" strategy that served them SO well.

I am so, so, so glad that when I got sick of taking shit from my district manager that I left for a different career entirely instead of trying for a home office book buyers job. Even in 2006 it was obvious there were some major cracks in the foundation, and I am so glad I split.

My favorite Borders moment was my exit interview with my DM:

DM: So now that you are leaving, what do you see that should be fixed in this store?
Me: We're stretched ridiculously thin, we need to hire more staff.
DM: Well you're over on payroll for the year [it was JUNE!] so what else can you suggest?
Me: Let's see...this store has two entrances, one for music and one for books. So on a typical night we need one person who's tied exclusively to music or the shoplifters clean us out. Then we need one person on information answering phones, helping customers, etc. Then one person at cash registers, who also obviously can't leave their station. Same with the one person manning the cafe. That's four people. Typically we would have one keyholder and one manager closing down the store, that's six people in total. If one person calls in sick we're down to five people running the store, when we really need 8. Also, we're 10 pallets behind because we keep borrowing the inventory team to cover the morning shifts. This is a 5 million per year store...short of cutting our hours, is there a way to straighten this mess out without payroll?
DM: Well that's not helpful because you're over on payroll for the year.
Me: Thank fucking god I'm leaving.

[J. Strnad]

Passed a person holding a sign today, store closing, fixtures for sale. Yep, it was a Borders. This is West Los Angeles, CA USA.

[mikeschr]

The store in downtown Portland is also closing.

[Maggie Leung]

My neighborhood Borders had long lines today. I used a gift card to order nonfiction books available only in print, and they're going to send 'em to me, no charge. Works for me, but Amazon is selling the same books for much less.

[SeaBookGuy]

I noticed this week's coupon for 50% off is clearly marked store stock only.

Liquidation?

[shootingMaNs]

The Borders Express is closing up in the mall near me, but it was only a seasonal store to begin with. Most everything was already marked down 20%, but it looks like a lot of the good stuff is gone already.

[SeaBookGuy]

Here's another swell nugget ...

Because Borders Bucks reward currency is applied to the gross (cover) price of an ebook, one CANNOT
use them on agency titles as that's considered (whether by Borders or publishers, or both, is unclear) "discounting" -- a sales agreement no-no!

Like Ole Man River, my eyes just keep on rolling along .....

[Steven Lake]

Wait, let me get this straight. Anyone who has an agency title gets screwed if someone's buying books using a gift card!? Ouch. That's gotta hurt. lol. But at the same time, if there gets to be enough of these "ouches" (in whatever form they happen to appear), the agency model might actually die. hehe. Here's hoping, right?

[SeaBookGuy]

I don't believe it applies to gift cards as such, but to Borders Bucks loyalty currency, which is otherwise treated as cash.

[superstitious]

The store in the mall I went to is currently having "the everything must go" sale. Good thing I used my gift card up on the recent $5 deal on some ebooks. Thanks for the head-up though.

[soondai]

Originally Posted by J. Strnad

Passed a person holding a sign today, store closing, fixtures for sale. Yep, it was a Borders. This is West Los Angeles, CA USA.

I hope it's not the one at Howard Hughes. I hang out there when the wife and kiddo do Gymboree.

[Lemurion]

I hope our Borders is going to hang on a bit - I like the store a lot, and then we'll be down to only Books-A-Million in town.

[Harmon]

Sony 600 Touch Red or Black available on Woot.com today (Jan. 2) only for $99.99 plus $5.00 shipping. It's refurb.