Sales of books and magazines fell 9.2% at Books-A-Million, to $345 million, in the fiscal year ended January 28, according to figures in BAM’s 10-k filing with the Securities & Exchange Commission. Earlier this year, the country’s second largest bookstore chain reported a 3.6% decline in total revenue and the drop in book and magazine sales was offset by gains in all other categories.
The electronics, e-book and accessories segment had the largest increase with sales up approximately 133%. Sales of Nook devices and accessories as well as e-book content, however, rose to only $14 million, 3.1% of revenue compared to 1.2% in the prior year. Books and magazines comprised 73.7% of total sales in 2011, down from 78.1% in 2010. Sales of general merchandise (gifts, cards, games, toys, collectibles), rose by $6 million in the year, to $54 million, café sales increased by about $1 million to $21 million, and other merchandise (music, DVD, and other items), increased about 6%, to $34 million.
Despite adding 41 former Borders stores in the third and fourth quarter (which generated sales of $28.2 million), sales through BAM’s physical outlets fell 5.3% in the year, to $453 million, as comp sales dropped 9.5%. The company finished 2011 with 257 stores (204 superstores, 53 traditional stores), as the new store openings were offset in part by the closing of 26 stores (only five closings were in areas where it doesn’t expect new or existing stores to make up for shutting a store). Its e-commerce arm had a 17.6% sales increase, to $30 million led by e-books and devices. Sales of print books and other physical sales online, however, fell about 18% in the year.
The 10-K gave no indication what BAM’s plans are for the number of stores it will open or close in the current year. BAM did say it now operates Yogurt Mountain sections in 17 of its stores.
