Borders posts $161.1-million 3rd-quarter loss

Borders Group Inc., the second-largest U.S. bookstore chain, said its third-quarter loss widened on lower prices and higher costs to remodel stores.

The third-quarter loss grew to $161.1 million, or $2.74 a share, from a loss of $39.1 million, or 64 cents, a year earlier, the Ann Arbor-based company said Tuesday.

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