Books Soft at BAM in Final Quarter
by Jim Milliot -- Publishers Weekly, 3/26/2008 2:13:00 PM
Book sales in the fourth quarter were down slightly and same store sales fell 1.6% at Books-A-Million. Revenue in the period fell 3.4%, to $168.3 million. Excluding the extra week in the 2006 quarter, which generated sales of $9 million, sales were up 3.0%.
For the full year, total revenue rose 2.9%, to $535.1 million, while net income fell 12.7%, to $16.5 million. Same store sales for the year, on a 52-week basis, rose 1.4%. In addition to the extra week, earnings in 2006 benefited from $1.5 million in income from unused gift cards.
In the fourth quarter, BAM president Sandy Cochran said fiction remained strong helped by the January release of The Appeal and Duma Key. In nonfiction, Eat, Pray, Love continued its year long “phenomenal success” Cochran said, while the graphic novel category also continued to post strong numbers. In teen and young adult, Stephenie Meyer’s three titles continued to lead the way, joined by Jenna Bush’s Ana’s Story.
Cochran said she sees few changes in the first quarter in what has been a challenging and competitive marketplace.
