Revenue at Books-A-Million inched up 0.2% in the first quarter ended May 3, 2014, to $103.8 million, compared to the year earlier period. The net loss rose to $5.6 million from $3.7 million, due mainly to a $2.0 million tax benefit in last year’s first quarter. Comp sales in the period fell 2.5%.
CEO Terry Finley said sales in the period were led by titles that had been popular over the holidays, including the children book standouts, The Fault in Our Stars plus the Divergent series. Although customer traffic slowed toward the end of the period, Finley said BAM achieved “our core plan in our core book business, as well as in the bargain book, media, and general merchandise categories.”
The retailer also announced that it has opened a dedicated site on its website featuring Hachette titles. The site, at www.booksamillion.com/hbg, features well-known Hachette authors as well as preorder titles from authors such as Robert Galbraith, Scott Turow, Cassandra Clare, Douglas Preston & Lincoln Child, and Rick Riordan.
BAM is already giving customers a discount of up to 30% off a wide selection of Hachette Book Group pre-order titles, and 40% off select current Hachette titles.
