The sale of books and magazines fell by about $3 million in 2014 compared to 2013 at Books-A-Million, the retailer disclosed in its recently filed 10-K report. Books and magazines accounted for 69.2% of all BAM revenue last year (approximately $328), down from 70.5% ($331 million) in the prior year. The decline in the category was due mainly to softer magazine sales. BAM previously reported that total sales in 2014 rose 0.8%, to $474 million.
The 10-K notes that the company has added more non-book items as sales of print books have come under pressure from e-books. The company’s fastest-growing segment last year was the general merchandise category which increased its share of revenue from 14.0% ($64 million) to 15.2% last year ($71 million). Sale of media—music, video, software--had its share of revenue rise by one percentage point in the year, to 4.5%. Sales of e-books, e-readers and accessories, however, accounted for only 1.0% of revenue, down from 1.9% in 2013.
BAM also reported that sales through its e-commerce division fell 7.2% in 2014, to $21.7 million from $23.4 million in 2013. Sales through its retail operation rose 1.1%, to $465.6 million. Revenue derived from its real estate development and management business increased about 58%, to $3.0 million.
As of January 31, 2015, BAM operated 196 superstores and 60 traditional stores.
The 10- filing had no news on the status of deliberations of the special committee appointed to review the offer of the family of Clyde Anderson to purchase the shares of BAM that it does not already own for $2.75 per share. BAM’s share price was trading at $2.87 when the market closed on Monday.
