Books-A-Million Q4 profit slips

Birmingham, Ala. Books-A-Million, which operates bookstores in 21 states and sells online, on Thursday posted a 3.6% decline in fiscal fourth-quarter profit as sales slipped while the economy tumbled.

For the three months ended Jan. 31, the company earned $11.4 million, compared with $11.9 million in the corresponding period a year ago.

Sales fell 2.5% to $164 million, from $168.3 million in the year-ago period. Same-store sales fell 5.3%.

Fourth-quarter expenses were down 1.3% from the prior year, to $31.3 million. Anderson said inventory was reduced by $2.5 million and debt by $12.5 million from the prior year.

For the fiscal year, the company posted profit of $10.8 million, down 34.6% from $16.5 million for the previous year.