Books-A-Million reports higher Q3 sales
Despite continuing to lose money, Books-A-Million announced higher same store sales for the third quarter.
Books-A-Million said same store sales for the third quarter ended Nov. 1 increased 1.8% compared with the prior-year quarter. Revenue increased 1.2% to $101.2 million, compared with revenue of $100 million in the year earlier period. But the company did report a net loss for the quarter of $6.9 million, or 50 cents per diluted share, compared with a net loss of $6.9 million, or 47 cents per diluted share, in the year earlier period.
“We delivered solid sales performance in our retail stores as we built on the results from the prior quarter,” said Terrance G. Finley, CEO and president. “We saw positive comparable sales in the largest categories in our core book business led by Kids and Teen, where our sales continue to be boosted by movie tie-ins from Disney’s‘Frozen’to John Green’s‘Fault In Our Stars.’We also saw positive results in our General Merchandise category and Cafés. In our 2ndand Charles division, we continued our expansion with two new stores located in Athens, Ga., and Bossier City, La.”
Books-A-Million, Inc. is one of the nation’s leading book retailers and sells on the Internet at Booksamillion.com. With the retail bookstore business under a long term threat from online retailers and lagging book sales, Books-A-Million is significantly smaller than its bigger competitor Barnes & Noble but still has annual revenues of over $470 million.
The company operates 261 stores in 33 states and the District of Columbia.