MAIN NEWS HEADLINES
March 29 – April 5, 2007 Edition
Books-A-Million
Same Store Sales
Down, Revenues Up
NEW YORK, NY/4/3/07–Books-A-Million April 2 reported a drop of 0.6% in same store sales for the year ended February 3, 2007, but reported a 3.3% increase in revenues to $520.4 million, despite a difficult year-end bookselling environment. The company recorded a huge 44% increase in net income to $18.9 million during the period, partly due to $1.5 million recognition of earnings from aged gift card revenues left unredeemed by consumers.
In the fourth quarter, net income increased to $15.1 million from $11.2 million for the previous year. Fourth-quarter sales were up by 8.3% to $174.6 million but comp-store sales were down 2.4%. The decline was attributed to the absence of a big nonfiction title and movie tie-ins, and a “quiet media environment,” according to president and CEO Sandra B. Cochran.
Books-A-Million is the third largest book retailer in the nation and also sells on the Internet at BOOKSAMILLION.COM. The Company presently operates more than 200 stores in 19 states and the District of Columbia Books-A-Million is the third largest book retailer in the nation and also sells on the Internet at BOOKSAMILLION.COM. The Company presently operates more than 200 stores in 19 states and the District of Columba.
