Sales Dip, Losses Rise at BAM
Books-A-Million reported sales of $100.4 million for its fiscal third quarter, which ended Nov. 2—a decline of 3.5% over the same period last year. Its net loss deepened to $7.1 million, from $2.8 million in the third quarter of 2012. Same-store sales fell 8.5%. The results were an improvement over the second quarter, when total sales declined 8.6% and comps dropped 12%. BAM president Terry Finley said comp sales improved throughout the third quarter and that BAM is “encouraged by the book and merchandise lineup as we prepare for the holiday season.”
Books Drop 11% at Hastings
Hastings Entertainment posted revenue of $94.7 million in its fiscal third quarter, which ended Oct. 31. Revenue fell 6.7% over the same period last year, but the company’s net loss was trimmed to $6.2 million, from $8 million in the third quarter of 2012. While comparable store sales for books fell 11.7% in the quarter, Hastings said sales from new products posted good results.
Small Demons Extends Deadline
Small Demons, the L.A.-based book-focused venture that indexes the places, music, food and things mentioned in books, has extended its deadline for finding a buyer or new investor for at least another month with December 20 the new deadline.