Books-A-Million posted a solid quarter for the period ended November 1, 2014 with sales up and the net loss even with one year ago. Total revenue at the chain rose 1.3%, to $101.2 million, compared to the third quarter last year, while the net loss stayed at $6.9 million. Comparable store sales rose 1.8%. Excluding sales of e-readers, comp sales were up 2.2%.
CEO Terry Finley said the sales gain was led by good comparable store increases in its Kids and Teen category with sales boosted by movie tie-ins to Frozen and The Fault in Our Stars. Sales of Minecraft titles were also strong in the quarter. In adult, graphic novels had a good quarter as did the history and humor categories. Sales were up in the general merchandise and café areas as well. BAM also added more stores to its 2nd and Charles division in the quarter and now has 22 outlets.
For the first nine months of the year, BAM sales were up 0.3%, to $313.3 million and the net loss was cut to $15.5 million from $19.8 million in the first nine months of 2013. Finley called the holiday book lineup modest, but said he was excited about books from Stephen King and James Patterson plus books tied the film releases of The Hobbit and American Sniper.
SOURCE: Publishers Weekly