Borders Launches 'Customer Commitment' Program - First Major Bookseller to Match Lower Prices on In-Store Items

ANN ARBOR, Mich., Nov. 1, 2010 /PRNewswire/ -- Borders Group today launched the "Borders Customer Commitment" program, a new customer satisfaction initiative. The Customer Commitment -- the first of its kind for a national bookseller -- includes the  "Low Price Promise," a new in-store program promising to match a local competitor's advertised, in-store price on items that Borders has in-stock. The Commitment also includes the popular "In-Stock Promise," which assures consumers if they don't find an item in stock at a Borders store, and it's among the more than one million titles available on Borders.com, Borders will find it and pay the shipping costs to the customer's home. With each of these promises, customers can enjoy a one-stop shopping experience at their local Borders store.

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Borders continues to focus on creating an exceptional in-store customer experience driven by consumer research into what consumers want from a bookseller.  Not surprisingly, value, price and convenience continue to be top of mind for consumers.  Borders translated the research into action and made changes such as eliminating the need for printed coupons and offering consumers the new Borders Rewards Plus program.  The new programs have surpassed expectations and led to the customer service index being rated at more than 90 percent with both availability and knowledge of associates being above a 95 percent rating. The Customer Commitment promises to push these customer ratings even higher.

"We're thrilled to offer our customers the new Customer Commitment program this holiday season," said Mike Edwards, CEO of Borders, Inc. "We're the first and only major bookseller to introduce a program like this that truly puts all consumers' needs first. In a competitive environment, the differentiators for consumers are value offerings combined with an exceptional in-store experience. Our customers have no reason to shop anywhere else." 

Consumers can take advantage of Borders' Low Price Promise by bringing in a current printed advertisement by a local brick and mortar competitor and Borders will match the advertised price on in-stock items. Consumers can also display a local competitor's lower advertised price on an in-store item via their mobile phone.  The retailer will also price match items previously purchased from Borders within the company's standard 30-day return and exchange window.

Borders' Low Price Promise and Borders' In-Stock Promise may not be combined and are subject to other restrictions and limitations. The Low Price Promise is not applicable to Internet pricing. See www.borders.com/online/store/MediaView_bcc for complete details on the Customer Commitment.

About Borders Group, Inc.

Headquartered in Ann Arbor, Mich., through its subsidiaries, Borders Group, Inc. (NYSE: BGP) is a leading specialty retailer of books as well as other educational and entertainment items. The company employs approximately 19,500 throughout the U.S., primarily in its Borders® and Waldenbooks® stores. Online shopping is offered through borders.com. Find author interviews and vibrant discussions of the products we and our customers are passionate about online at facebook.com/borders, twitter.com/borders and youtube.com/bordersmedia. For more information about the company, visit borders.com/media.

SafeHarbor Statement

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. One can identify these forward-looking statements by the use of words such as "expected," "planning," "possibility," "opportunity," "goal," "will," "may," "intend," "anticipates," "working toward" and other words of similar meaning. One can also identify them by the fact that they do not relate strictly to historical or current facts. These statements are likely to address matters such as the company's future financial condition and performance (including earnings per share, profitability, liquidity, cash flows, debt levels, market share growth and other sales information, inventory levels and capital expenditures), its cost reduction initiatives and plans for store closings, and the expansion of product categories, including eBook content and eReaders. These statements are subject to risks and uncertainties that could cause actual results and plans to differ materially from those included in the company's forward-looking statements.

These risks and uncertainties include, but are not limited to, consumer demand for the company's products, particularly during the holiday season, which is believed to be related to general economic and geopolitical conditions, competition and other factors; the availability of adequate capital--including vendor credit--to fund the company's operations and to carry out its strategic plans; adverse litigation results or other claims, the performance of the company's information technology systems, the anticipated impact of our Borders Rewards and Borders Rewards Plus programs; and, with respect to eBook content and eReaders, the availability to the company of anticipated content levels and a variety of competitive devices.

The company's periodic reports filed from time to time with the Securities and Exchange Commission contain more detailed discussions of these and other risk factors that could cause actual results and plans to differ materially from those included in the forward-looking statements, and those discussions are incorporated herein by reference. The company does not undertake any obligation to update forward-looking statements.

SOURCE Borders Group, Inc.

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