Sales of books and magazines fell about 9% at Books-A-Million in the year ended February 1, 2014 compared to the prior year, according to figures in the chain’s just released 10-K report filed with the SEC.
Books and magazines accounted for 70.6% of BAM’s total revenue of $470 million in 2013, down from accounting for 73.7% of $498 million in sales in 2012. Sales of general merchandise items, the second largest category, accounted for 14.1% of revenue in 2013, up from 12.6% in 2012 and sales rose to about $66 million from $63 million. Sales in the café and yogurt category rose to 4.9% of revenue last year from 4.4%, while sales of media--music, video and software—rose to 3.6% of sales from 2.3%. Sales of electronics, e-books and accessories held even at 1.9% of sales in both years.
Looking at sales by channel, sales through its retail stores fell 5% as comp store sales fell. The company opened 14 stores during the year and closed 10, with the net gain of 4 giving BAM 261 stores as of February 1, 2014. Sales through its e-commerce line dropped 14% and BAM said the decline was due to a decline of e-reading devices which offset sales gains in e-books. BAM’s third unit, real estate development, had revenue of $1.9 million in the year compared to revenue of just under $500,00 0 in 2012. BAM owns two retail properties.
