BUSINESS BRIEFING / EARNINGS

Borders Group Inc., the unprofitable bookstore chain that tried to sell itself last year, said fourth-quarter profit fell as consumers pared spending.

Net income dropped to $29.6 million, or 49 cents a share, from $64.7 million, or $1.10, a year earlier, the Ann Arbor, Mich., company said. Revenue declined 14% to $1.09 billion. Profit from continuing operations was $1.05 a share. Analysts on average expected earnings of 95 cents on revenue of $1.14 billion, according to data compiled by Bloomberg.