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August 31, 2010 at 09:08 AM EDT
Borders Launches New Paid 'Borders Rewards Plus' Loyalty Program
Free, Enhanced Borders Rewards Program Also Launches Today - Programs Give Customers More Choices, Rich Benefits, Discounts and 'Surprises and Delights'

ANN ARBOR, Mich., Aug. 31 /PRNewswire/ -- On Sept. 1, Borders will officially unveil its new Rewards loyalty program, bringing Borders customers more choices, richer benefits and better savings. Consumers can now choose from two forms of Rewards — a free, enhanced Rewards program, or the new "Borders Rewards Plus" program, which for $20 per year delivers savings on nearly all Borders merchandise, and free shipping on virtually all online orders. Borders is the only major bookseller to provide consumers with a choice of loyalty programs.

(Logo: http://photos.prnewswire.com/prnh/20060208/BORDERSLOGO )

(Logo: http://www.newscom.com/cgi-bin/prnh/20060208/BORDERSLOGO )

To celebrate, members can earn "Borders Bucks" twice as fast beginning tomorrow though Sept. 6. Typically, members earn $5 in Borders Bucks for every $150 they spend annually, but during this period, Borders will double the spend to bring the member closer to the $150 threshold faster.  For example, if a member spends $50, Borders will double that amount bringing the total spend to $100. If a member spends $75, Borders will double that amount bringing the total spend to $150, resulting in the member receiving $5 in Bucks.

"We saw a great opportunity to differentiate Borders in the marketplace by offering the choice of a paid program or a free program," said Borders CEO Mike Edwards. "Beginning tomorrow, the new Rewards program will provide members with more relevant content, benefits and discount offers. It's yet another example of Borders' commitment to creating an outstanding customer experience."

For the last several months, Borders has been conducting extensive research on what customers want most in a loyalty program. The company used the research to shape the reinvention of Rewards, which includes nearly 40 million sign ups, from a one-size-fits-all-model to one that engages with each member individually with specific discounts. Members also receive personalized and relevant content such as title recommendations and notifications of local events including author signings and other entertainment activities.  

Borders Rewards Plus and the free, enhanced Borders Rewards program both offer a rich array of benefits and savings, such as exclusive in-store and online discounts, personal shopping days, free coffee, a free birthday gift, and Borders Bucks, of course.

In addition:

  • Members of the free, enhanced program will receive 30 percent off the list price of hardcover bestsellers and free shipping on online orders of $25 or more.
  • Members of the Borders Rewards Plus program will receive 40 percent off the list price of hardcover bestsellers, 20 percent off the list price of select hardcovers, 10 percent off the purchase price of most everything else — and free shipping on virtually all online orders.  

Rewards for teachers

As part of its longstanding commitment to supporting educators, Borders has made its Rewards program more teacher-friendly. Upon the program's launch, teachers who are currently Rewards members will receive a personal shopping day where they will enjoy a 10 percent discount off the purchase price on top of the 25 percent discount they already receive on eligible items. In addition, beginning Oct. 1, parents, friends and families can donate Borders Bucks they've accrued to their favorite teacher. The teacher can then use the donation to buy classroom supplies.

For complete information on Rewards, to sign up to become a Rewards member or register as a teacher to receive Borders Bucks, visit www.Borders.com/Rewards.

About Borders Group, Inc.

Headquartered in Ann Arbor, Mich., 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.

Safe Harbor 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

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