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THE BORDERS GROUP and Crown Books reported very different results for the second quarter of fiscal 1998.
Borders reported net income of $500,000 for the second quarter ended July 27, 1997, compared to a net loss of $2.2 million in the second period of fiscal 1997. Sales in the quarter rose 12.6%, to $466.3 million.
The sales gain at the company was driven by a 28.2% increase in sales, to $274.3 million, at Borders's superstore division, which offset a decline of 3.9%, to $193.9 million, at Waldenbooks. Gains at the superstores were the result of a 7.5% increase in comparable store sales as well as sales at additional outlets. Borders operated 171 superstores …