Books-A-Million announces higher earnings, promotions

BIRMINGHAM, Ala. Books-A-Million announced that net sales for the 13-week period ended Aug. 1, decreased 0.7% to $122.4 million from net sales of $123.3 million in the year-earlier period. Comparable-store sales for the second quarter declined 4.9% compared with the 13-week period in the prior year.

Net income for the second quarter increased to $1.5 million, or 10 cents per diluted share, compared with net income of $645,000, or 4 cents per diluted share, in the year-earlier period.

Books-A-Million also announced the continued advancement of several senior executives. Douglas Markham has been promoted to EVP/CAO in charge of the company’s warehouse operations, information technology, human resources and finance function. Markham had served as the CFO of the company since July 2006 and secretary since March 2008.

Brian White will succeed Markham as CFO. White had served as the Interim CFO from Jan. 2 to July 15. Prior to his appointment as interim CFO, White served as the VP, controller upon joining the company in Oct. 2007. White was the Southeast regional product line controller for the Ready Mix division of Lafarge North America from Sept. 2003 to Oct. 2007.

Terrance Finley has been promoted to EVP/chief merchandising officer in charge of store operations in addition to his current responsibilities as president, Books-A-Million merchandising group. Finley has served as president, Books-A-Million merchandising group since October 2005. Finley served in various other capacities in the company’s merchandising department from April 1994 to December 1998. Finley served as the general manager of Book$mart from Feb. 1992 to April 1994.

Clyde Anderson has also assumed the duties of president in addition to his current positions as chairman and CEO. An executive with the company for more than 20 years, Anderson has served in various capacities. He has been the company's Chairman since 2000 and was named CEO in March 2009.