From MarketWatch, a Books-A-Million press release:
Books-A-Million, Inc. today announced financial results for the 13-week and 26-week periods ended August 2, 2014. Revenue for the 13-week period ended August 2, 2014 decreased 0.5% to $108.3 million, compared with revenue of $108.8 million in the year earlier period. Comparable store sales for the second quarter increased 0.1% compared with the 13-week period in the prior year. Net loss attributable to Books-A-Million for the second quarter was $3.0 million, or $0.21 per diluted share, compared with a net loss of $9.1 million, or $0.62 per diluted share, in the year earlier period.
. . . .
Commenting on the results, Terrance G. Finley, Chief Executive Officer and President, said, “In our BAM! retail stores, the continued improvement in our core book business was a key driver of our performance. The teen and children’s book business was particularly strong, led by the positive impact of media, particularly movie related tie-ins such as John Green’s Fault In Our Stars, and Disney’s Frozen. In addition we had a broad group of merchandise categories showing stronger results for the quarter. These included bargain books, general merchandise including gifts and toys, media, and our cafes.
Link to the rest at MarketWatch
For overseas visitors, Books-A-Million is the second-largest bookstore chain in the US.
Here’s an excerpt from an International Business Times article in 2011 when Borders, then the second-largest bookstore chain in the US, went bankrupt and closed:
Borders is closing, liquidating its remaining 399 stores and eliminating 10,700 jobs, and many people are wondering why. They loved the stores, they say.
But the remarks of one sad customer speaking Monday sums it all up.
“I love going to the bookstore — leaving the kids and sneaking away, looking at the variety,” said Joe Lanier, a hairstylist from Southfield, Mich., speaking to the Detroit Free Press about Borders’ closing. “I hope someone can come through and buy them and bail them out.”
Lanier meant well, obviously. He was shopping at a Borders store in Michigan at the time, not far from the company’s Ann Arbor headquarters.
. . . .
Customers like him liked visiting Borders’ big stores. They liked the relaxing, park-like browsing experience. But take note that Lanier never said he loved buying books. He said he loves looking at the variety.
. . . .
In reality, though, Borders was long gone. The company has been losing money for five years because most customers felt just like Lanier, whether they knew what they were saying or not. That’s the way they feel about many bookstores in America. They love to go there, look, browse, and relax.
But Borders was not a publicly-supported library.
So many customers liked to flip through some books, maybe even buying one every now and then. But Borders stores occupied 25,000 square feet on average, and it’s hard to make a profit renting some of America’s prime real estate at that level when people primarily enjoy looking at the only product you have to sell.
Link to the rest at International Business Times