Books-A-Million Second Quarter: Comps Fall 4.9%
At Books-A-Million, net sales during the quarter ended August 1 dropped 0.7% to $122.4 million and net income was $1.5 million compared to $645,000 in the same period last year. Sales at stores open at least a year fell 4.9%.
In a statement, chairman and CEO Clyde B. Anderson commented: "The sales environment remained challenging during the quarter, and our results reflected the difficult comparison to last year's release of Stephanie Meyer's blockbuster Breaking Dawn. Nonetheless, we achieved significant improvement in earnings as a result of continued discipline in the management of our business."
In other BAM news:
- Clyde B. Anderson, chairman and CEO, is adding the duties of president.
- Douglas Markham has been promoted to the newly created position of executive v-p, chief administrative officer in charge of finance, warehouse operations, information technology and human resources. He has been CFO since 2006 and secretary since 2008, except for January to July this year, when he was active duty in the military. Before joining BAM, he worked at Saks Inc. for more than 10 years, part of that time as senior v-p, controller.
- Brian W. White has been named CFO, a position he filled most of this year on an interim basis. He joined the company in 2007 as v-p, controller. Earlier he worked for Lafarge North America's Ready Mix division and for Saks, Inc.
- Terrance G. Finley has been promoted to executive v-p, chief merchandising officer, responsible for store operations and continuing his responsibilities as president, Books-A-Million Merchandising Group. He has worked for BAM since 1994.