PW: BAM Plans Big Jump In Fiscal '01 Spending

Books-A-Million expects to up its capital expenditures by about 43% to $19.3 million in fiscal 2001, the company reported in its year-end filing with the SEC. Its key initiative in the current year is the installation of new technology in its superstores that will allow employees to make better use of the Internet to improve customer service.

Funds will also go toward opening an undisclosed number of new stores and expanding warehouse facilities. In January, BAM's wholesale division, AWBC, began fulfilling orders for Wal-Mart's e-commerce division, and the company sees strong growth potential in providing fulfillment services. As for its own e-commerce division, BAM said, "We are planning for aggressive growth in both sales and customers at Booksamillion.com and are committed to remaining competitive in this arena."

BAM has named Mitch Loukota, from Toys R Us, senior v-p for merchandising.