Books-A-Million, Inc. Reports Lower Holiday Store Sales
Expects Decline in Fourth Fiscal Quarter Earnings
BIRMINGHAM, Ala.--(BUSINESS WIRE)--Jan. 9, 2001--Books-A-Million, Inc. (Nasdaq/NM:BAMM - news) today announced that sales for the nine-week period ended December 30, 2000, totaled $102.3 million compared with $106.0 million for the same period in fiscal 2000, a decrease of 3.5%. Comparable store sales for the same nine-week period decreased 9.1%. Excluding the sales of Pokemon collectibles, comparable store sales decreased 2.3%.
For the first eleven months of fiscal 2001, sales increased 1.9% to $379.1 million from $372.2 million in the year-earlier period. Comparable store sales for the first eleven months of fiscal 2001 decreased 2.6%. The final results for the year ending February 3, 2001, will be released as scheduled in mid-March.
Commenting on the results, Clyde B. Anderson, Chairman and Chief Executive Officer, said, ``We were comparing against a very strong holiday season last year which was driven by a number of factors, including the Pokemon craze, the turn of the Millennium and a very strong economy. This season saw no equivalent trends develop, and sales were below last year as a result. Management expects that comparable store comparisons will continue to be adversely affected by the Pokemon collectibles sales through the second quarter of fiscal 2002.''
Anderson continued, ``We are encouraged, however, by the general strength of the core book business and the continued growth of our e-commerce businesses. We estimate that net income for the fourth quarter will be approximately $0.27 to $0.30 per diluted share compared with $0.36 per diluted share for the same period last year. Despite the downturn in earnings for the quarter, our balance sheet continues to reflect the Company's overall financial strength.''
Books-A-Million is one of the nation's leading book retailers and sells on the Internet at www.booksamillion.com. The company presently operates 188 stores in 17 states. The Company operates four distinct store formats, including large superstores operating under the names Books-A-Million and Books & Co., traditional bookstores and combination book and greeting card stores, both operating under the name Bookland, and Joe Muggs Newsstands.
A public, listen-only simulcast and replay of Books-A-Million's holiday sales conference call may be accessed by links found at the Company's web site: www.booksamillioninc.com. The simulcast will begin at approximately 5:00 p.m. Eastern Time today; a replay of the call will be available beginning at approximately 7:00 p.m. Eastern Time and will run for about 30 days. |
