‘Hallows’ Proves Magical for BAM
by Jim Milliot -- Publishers Weekly, 8/22/2007 7:33:00 AM
Books-A-Million is the first of the three big major bookstore chains to report the impact of Harry Potter and the Deathly Hallows on results for the second quarter ended August 4. Hallows gave BAM the expected boost, with sales rising 9.6% in the quarter, to $132.8 million. Comparable store sales were up 6.6%. BAM did not break out revenue for Hallows, with company president Sandy Cochran only saying that sales for the title were “outstanding.” Demand for Hallows contributed to higher sales in BAM’s café and gift departments as well where the retailer featured Hallow-related offerings. In addition to Hallows, Cochran said BAM had solid comp increases in the commercial fiction, biography, graphic novel and teen segments.
The increase in sales combined with lower store selling costs and lower corporate expenses led to a 29.2% jump in net income in the quarter, to $3.1 million.
For the first half of the year, BAM’s sales rose 6.0%, to $177.7 million with same store sales ahead 3.1%. Earnings increased 31.3%, to $5.2 million.
