Borders Group, the owner of the Borders and Waldenbooks chains, dropped the most in more than a month in New York trading after reporting a decline in holiday sales.

Borders, based in Ann Arbor, Michigan, fell 12 cents, or 8.8 percent, to $1.24 in New York Stock Exchange composite trading. The shares almost tripled last year.

Sales for the 11 weeks ended Jan. 16 declined 14 percent to $846.8 million, Borders said yesterday in a statement. Comparable store sales slumped 15 percent at Borders superstores and 9.4 percent at Waldenbooks, the company said.