Books-A-Million reports decreased retail sales, net loss of $9 million in Q2 earnings report
Unlike its competitors, Books-A-Million (BAM) did not invest in an eReader solution or in eBooks, in general. But that has not stopped the book chain from seeing its sales suffer, nonetheless.
BAM’s Q2 earnings was released yesterday and it showed net revenues falling 8.6 percent to $109.2 million, compared to $119.5 million in the same quarter a year ago. Net income fell to a loss of $9.0 million, compared to a much smaller loss of $0.9 million in 2012.
“Results for the quarter reflect the very tough comparisons to the prior year due to the unprecedented success of the Hunger Games series and the Fifty Shades of Grey trilogy. In addition we continued to see softening in sales of e-reading devices and slower growth of digital content. Our general merchandise categories and internet business performed well in the quarter,” said Terrance G. Finley, CEO and President of Books-A-Million.