Borders not for sale — After roughly half a year on the selling block, Borders Group is no longer for sale, executives announced. “We are no longer contemplating a transaction,” CEO George Jones said in reference to the bookstore chain’s May decision to review strategic options, including the sale of the company. Borders still has the right to sell its Paperchase chain to Pershing Square Capital Management for $65 million, and the pair are currently discussing alternative financing. [Source: globest.com]
Blockbuster tests new strategy — As the home-entertainment industry becomes increasingly competitive and frugal consumers opt to save cash by staying in, Blockbuster is revamping select stores and offering more than just movies. The company has turned a number of Reno, Nevada, test stores into interactive-entertainment havens. Wii and Xbox accessories, high-definition TVs, mobile media devices, and cafe kiosks are among the new offerings at the stores being tested. “We’re selling convenience,” says CEO Jim Keyes. “Why send someone to Wal-Mart when you can bring it in here where they’re already getting the movies?” [Source: cincinnati.com]
Designers scrap runway shows for cheaper alternatives — Fashion runways could be empty next year thanks to the surge of designers who’ve decided to cut costs by replacing their annual shows with less-expensive “presentations,” which typically feature models frozen in mannequin poses. Italian House Marni announced on Dec. 1 that it will do a presentation of its Fall 2009 menswear collection rather than a typical runway show. Meanwhile, New York-based designer Marc Bouwer is planning a Webcast fashion display, which will cost an estimated $60,000 compared with the $200,000 he’s spent on catwalk shows. “There’s a lot of conversation out there about people doing things differently,” says Steven Kolb, executive director of the Council of Fashion Designers of America. [Source: Heard on the Runway]
Office Depot site turns browsers into buyers — Office Depot was able to transform more of its site’s visitors into paying customers than any other online retailer in October. More than 28 percent of those browsing Office Depot’s e-commerce site made purchases, according to the Nielsen Online MegaView Report. Other e-commerce retailers whose guests didn’t leave their sites empty-handed in October included: L.L. Bean, Staples, and eBay. The product categories with the highest average order value were computer hardware, with the average online order ringing in at $300.89, and automotive, with an average order value of $178.29. [Source: internetretailer]
