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NEW YORK (AP) - Barnes & Noble Inc., the nation's largest bookseller, reported on Thursday a slight increase in fourth-quarter profit that missed Wall Street expectations. It also forecast a loss for the first quarter.
The news came as No. 2 book rival Borders Group Inc. announced on Thursday a fourth-quarter loss as it disclosed plans to close nearly half of its Waldenbooks stores and said it was considering selling some international businesses as part of a restructuring plan.
The Ann Arbor-based company said it plans to focus more of its efforts on its domestic Borders superstore business and better tailor those stores to local markets. It plans to develop a consolidated Borders.com e-commerce Web site and publish exclusive books by celebrities under the Borders name.
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