Lower sales led to a higher net loss at Books-A-Million in the second quarter ended August 1, 2015. Revenue dipped 0.4% in the quarter compared to 2014, slipping to $107.9 million, while the net loss rose to $5.8 million from $3.0 million. Comparable store sales fell 0.3%.
BAM CEO Terry Finley said that while BAM benefitted from the strong sales performances of Harper Lee’s Go Set a Watchman and E.L. James’ Grey, those sales were not enough “to fully offset the significant prior year media driven sales” of such books as John Green's Fault In Our Stars, Veronica Roth’s Divergent series and Todd Burpo’s Heaven Is for Real.
Outside of book sales, BAM’s cafés and general merchandise departments posted good gains.
For the first half of 2015, BAM revenue was down 1.1%, to 209.7 million and the net loss was $11.1 million, up from $8.6 million last year. Comp sales were off 0.6%.
The BAM board recently approved the offer by the Anderson family to acquire the shares in the company they do not already own. No date has yet been set to vote on the proposal.
