Wednesday, March 23, 2011

Books-A-Million sales slipped last year

In other words they are doing great, compared to Borders. Birmingham Business Journal:
Books-A-Million Inc. (Nasdaq: BAMM) reported a 2.7 decrease in sales for its last fiscal year.

The Birmingham-based book retailer said sales totaled $495 million for the year ended Jan. 29, 2011, according to a news release.

Comparable store sales, or sales at stores open at least a year, dropped nearly 5 percent and net income fell 35 percent to $8.9 million, compared $13.8 million in the previous fiscal year.

“The results for the fiscal year illustrate a dynamic and rapidly changing retail environment for booksellers,” said Chairman Clyde B. Anderson. “We are also pleased with our ability to manage inventories and maintain a strong balance sheet giving us flexibility to address the challenges and opportunities ahead.”

Anderson said the company successfully launched a partnership with Nook in the fourth quarter to sell e-readers and its toy and game and electronic accessories businesses performed well.

During the fourth quarter, Books-A-Million had a 2.6 percent decline in sales to $153.1 million and a 6.7 percent drop in comparable store sales.