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BAM: Another Weak Quarter
-- 8/31/98
For the second period in a row, Books-A-Million president Clyde Anderson called the chain's quarterly results "disappointing." In the quarter ended August 1, 1998, BAM reported a net loss of $514,000, compared to net income of $527,000 in the second quarter in fiscal 1998. Sales in the period rose 8.5%, to $78 million.
Lower than expected sales in a number of categories contributed to a 3.6% decline in comparable-store sales in the period. Categories that did well in the quarter were bestsellers and nonbook areas, such as magazines and cafes. Anderson noted that same-store sales started to show some improvement in July, but not enough to offset declines in May and June.

For the six-month period, sales were up 8.8%, to $152.4 million, although BAM reported a net loss of $504,000, compared to net income of $896,000 in the first half of fiscal 1998.
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