Books-A-Million, which with 255 stores, is now the nation’s second largest book chain, posted a 10.5% year-over-year growth in sales for the quarter that ended on April 28th, 2012. BAM’s sales were aided by 40 former Borders outlets that were added late in 2011 and by strong sales of The Hunger Games books (and related merchandise) as well as the 50 Shades of Grey Trilogy.  While comparable store sales for the quarter were down 4.2%, this was a definite improvement over the previous quarter in which they fell 5.7%.  Sales which rose from $102.4 million in Q1 of 2011 to $113.1 million enabled BAM to cut its net loss from $3.4 million in Q1, 2011 to $1.9 million for the most recent quarter.

 

BAM CEO Terrance G. Finley told analysts, “Sales of Hunger Games books and merchandise were a highlight for the quarter.  Their performance along with the current phenomenal success of the 50 Shades series and the continued strong performance in toys, games, gifts and electronics demonstrate that consumers are responding to our integrated merchandising offerings (i.e. more tchotchkes, fewer books).

 

Finley refused to comment on the Anderson family’s offer to take Books-A-Million private by purchasing the company shares at $3.05.  Finley said that it was too early in the process, and that a special committee formed to examine the Anderson family offer has yet to report its recommendation.  Numerous shareholders have complained that the family’s offer was too low (BAM stock is currently trading at $3.07).