Books-A-Million reports 1Q sales drop

BIRMINGHAM, Ala. Books-A-Million reported that first quarter net income decreased to $0.9 million, or 6 cents per diluted share, compared with net income of $2.1 million, or 13 cents per diluted share, in the prior first quarter.

Net sales for the fiscal 2009 13-week period decreased 0.7% to $115.5 million from sales of $116.3 million in the year-earlier period. Comparable-store sales for the quarter decreased 3.4% when compared with the 13-week period for the prior first quarter.

Commenting on the results, Sandra Cochran, president and ceo, said, “Our first quarter results were affected by a very challenging economic environment. We are focused on executing the fundamentals of managing inventory, controlling costs and maintaining margins while adjusting our merchandising plan to meet the demands of a cost-conscious consumer.”