Despite having comparable store sales decreases in the fourth quarter and fiscal year, Books-A-Million saw core book business improve, driven by what president and CEO Terrance G. Finley called a strong lineup of new titles.
Revenues for the 13-week period ended Feb. 1 decreased 3.7% to $157.9 million, compared with revenues of $163.9 million in the 14-week year-earlier period. Comparable store sales for the quarter which include comparable 13-week periods this year and last year declined 1.8%, compared with the same period last year.
For the 52-week period ended Feb. 1 revenues decreased 5.6% to $470.3 million from net revenues of $498.4 million in the 53-week year-earlier period. Comparable store sales, which include comparable 52-week periods this year and last year, declined 6.8%.
"We were pleased with our performance in the fourth quarter,” said Finley. “Our new business initiatives also performed well supported by consumer enthusiasm in pop culture, movies and media. Our team executed our plan admirably despite the challenges presented by the weather in both December and January.”
Books-A-Million operates 256 stores in 33 states and the District of Columbia. The company operates large superstores under the names Books-A-Million (BAM!), Books & Co. and 2nd & Charles and traditional bookstores operating under the names Bookland and Books-A-Million. Also included in the company’s retail operations is the operation of Yogurt Mountain Holding, a retailer and franchisor of self-serve frozen yogurt stores with 43 locations.