Books a Million, the bookstore chain that operates some 261 brick-and-mortar stores, reported a 9.4% decline in total revenues for 2013 when compared with 2012. While BAM’s larger competitor Barnes & Noble was able to improve its performance at the end of 2013 (see "Barnes & Noble Turns a Profit"), Books a Million remained in the red with comparable store sales down 6.8% for 2013 when compared with 2012. Overall BAM reported a loss of $8.2 million for 2013 versus a loss of $2.6 million in 2012 in its 10-K form that was filed with the SEC last week.
While sales of magazines and books were down over 9%, BAM reported modest increases in sales of general merchandise, food items, and media. Sales through BAM’s e-commerce unit dropped 14%, largely due to a big decline in sales of e-readers.
In 2013 Books A Million opened 14 stores and closed ten for a net gain of four stores.
Comparable Store Sales Drop 6.8% in 2013
Posted by ICv2 on April 22, 2014 @ 12:06 pm CT
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