Borders Group reported a 13.7% decline for its 2009 holiday sales, a disappointing result for the chain and far worse than the poor results at competitor Barnes & Noble.  Same store sales in Borders stores were down 14.6%, vs. a 5.4% decline in same store sales at Barnes & Noble.  A portion of the decline in sales at Borders stores (3.7%) was a result of the decision to exit multimedia (music, video). 

Margins improved by 130 basis points as a result of reduced promotional spending.