MAIN NEWS HEADLINES
April 1-15, 2004 Edition
BAM Sees 3 Percent
Sales Gain, Plans
Stock Repurchase3/20/04Books-A-Million reported a 5 per cent sales increase in fiscal 2004 sales to $460.2 million, and net income rose significantly from $1.4 million in 2002 to $7.2 million this fiscal year.
Among best selling categories for the chain were diet and health titles, fiction and graphic novels. BAM’s cafe and gifts and stationery departments also experienced increases. Online operations, while meeting expectations, will show a slight loss for the year.
Earnings per share are expected to grow in 2004 from 12 percent to 15.5 percent.
Books-A-Million plans to open 8 to 10 new stores in 2004 and will remodel 20 to 25 locations. The new stores each will embrace about 15,000 square.
The corporation also plans to repurchase up to 10 percent of its stock, or about 1.6 million shares at about $6 per share.