Holiday '09: Ann Arbor-based Borders launches 'in-stock guarantee' for holidays

Ann Arbor-based bookseller Borders Inc. announced today it's launching a holiday promotion that guarantees buyers can get the merchandise they want in one of the retailer's stores.

By offering an "in-stock guarantee," Borders says if customers can't find an item on store shelves, it will ship it - free - from Borders.com.

The online version of the retailer stocks at least 1 million titles, according to a news release.

Borders operates more than 500 stores, making it the second-largest book retailer in the U.S., behind Barnes & Noble. But competition also comes from Amazon.com, which has reported soaring sales this fall as both bricks-and-mortar stores slide.

With the in-stock guarantee, Borders officials said they believe it's a unique move in the industry.

"Our goal is to have every single customer leave our stores happy this holiday season," Mike Edwards, executive vice president and chief merchandising officer for Borders, said in a statement. "We have stocked our shelves to the rafters. As a result, we hope to have exactly what customers are looking for among the hundreds of thousands of items we have in stock, but if there is something we don't have on the shelf, we are going to get it in their hands within days, and pay the shipping costs."

Borders - valued today at $120 million, based on its stock price of $2 per share - has laid off over 700 people in 2009, including 156 at its Ann Arbor headquarters.

The company also closed its Waldenbooks chain as it tries to rebuild its business after a disappointing 2008 holiday season that fell over 11 percent from 2007 totals.

CEO Ron Marshall, appointed in January, was the second turnaround expert hired to lead the retailer, which has struggled since 2006.

Borders stock has traded from 34 cents to $4.48 over the last year.