In the first quarter ended May 1, net sales at Books-A-Million fell 1%, to $117 million, while net income fell 4.8% to $2 million. Sales at stores open at least a year fell 3.6%.
In a statement, Clyde B. Anderson, chairman, president and CEO, said, "While we continued to face a challenging sales environment during the period, I'm pleased that our ongoing discipline in cost control and inventory management delivered solid financial results."
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Mike Edwards apparently wants to make his job as interim CEO of Borders Group permanent, according to the Detroit Free Press, which interviewed him after Borders's annual meeting yesterday.
Edwards, Borders merchandising chief before being promoted to interim CEO in January after the departure of Ron Marshall, told the paper, "I am very committed and passionate about the Borders brand."
At the meeting, the Free Press wrote, "Edwards told shareholders the company is focused on raising revenue and returning to profitability. He stressed improving the company's in-store experience and growing its potential e-reader business as key parts of Borders' strategy." Edwards described reaction to the Kobo e-reader, which Borders will begin to sell in June, as "very strong."
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More on the hornet's nest in Canada over sales of Stieg Larsson's The Girl Who Kicked the Hornet's Nest, the last volume in the Millennium trilogy.
Independent booksellers say that they lost sales of the book, which they are just receiving, because Indigo/Chapter began selling it a week ago, Quill & Quire reported. The book's official on-sale date is this coming Tuesday.
Penguin, the book's publisher north of the border, did not have an embargo on the book, and in communications with booksellers apologized for the situation and encouraged them to begin selling the book as soon as they received it. "Wholesalers and distribution centres are sent out early to give them time to re-ship, ensuring that everyone has it on the official on-sale date and clearly this wasn't honoured," Penguin wrote, according to Quill & Quire. "As a result of this, we are in the process of determining changes to our policies and procedures to try to ensure that this doesn;t happen again. It will most likely result in the imposition of many more strict on-sale dates going forward."
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The Oprah Effect strikes again. USA Today reported that there "are books
that Oprah Winfrey likes. Then there are books she loves. If you watched
Geneen Roth's appearance on Winfrey's show May 12, you could have
predicted that Roth's Women Food and God would rocket from Number
80 to Number 1 on USA Today's Best-Selling Books list this
week."
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In Bookselling This Week, the ABA lists 10 member stores that opened in the first third of this year.
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Books@BEA, Above the Treeline's online product catalogue for BookExpo America, has gone live and can be found at booksatbea.com. Books@BEA offers information about more than 10,000 titles featured at the show by more than 300 exhibitors and is powered by Edelweiss, Above the Treeline's digital catalogue service. Versions of Books@BEA for iPhones, Androids and Blackberrys will be available in the next few days.
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Obituary Note: Robert Laffont, "the grandfather of French publishing," died on Wednesday at age 93.
"He created his own publishing house, Editions Robert Laffont, in 1941, and was responsible for more than 10,000 titles, including a number of bestsellers, such as Henri Charrière's Papillon," the Bookseller wrote.
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Obituary note: Maxwell J. Lillienstein, longtime general counsel of the American Booksellers Association, died May 13 at his home in Boynton Beach, Fla. He was 82.
As noted in Bookselling This Week, "Lillienstein submitted briefs as amicus curiae in several important First Amendment cases decided by the U.S. Supreme Court. He was an active member of the Freedom to Read Committee and the author of many articles on the First Amendment and antitrust issues affecting the bookselling industry."
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George Washington's overdue book (Shelf Awareness, April 20, 2010) has been
returned after more than two centuries--sort of. The Daily News reported that the New York
Society Library "happily accepted a replica copy of The Law of
Nations from members of the first U.S. President's Mount Vernon
estate yesterday after they discovered he removed it from their
collection on October 5, 1789, but never brought it back."
"I
hereby absolve George Washington and his representatives for any overdue
library fees incurred," said Charles Berry, NYSL's chairman of the
board of trustees. "The library was not about to pursue a fine, but we
were delighted to learn that a copy of this book was coming back to us."
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Book
trailer of the day: Entertainment Weekly's Shelf Life blog featured a trailer for Theodore
Boone: Kid Lawyer by John Grisham (Dutton Children's Books, May 25
release).