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Non-Tech : Borders Group (BGP)

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To: david thor who wrote (91)	1/9/1999 5:11:00 PM
From: dreydoc	Read Replies (1) of 411

>>Seriously, they're very convenient and I don't understand why they weren't included as income last quarter. Accountants, anyone? It just seemed like such conservative accounting.<< I'm not familiar with the book business but I suspect that they have variable profit margin across inventory. By convention, they don't want to relieve inventory or charge cost of sales on pooled dollar basis but want to use specific identification based on books going out the door with redemptions. Probably related to unit sales reporting back to book manuf's as well. Still it seems to me that this would be relatively immaterial to total sales. Sure you get a boost at the holidays, but to identify that as a contributor to shortfall in earnings is a stretch I think. What's all the anticipation about January 11 announcement? dd

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