Kim and all. You may want to look at BAMM. Below is the earnings report. They beat estimates and have a web deal with Wal-Mart going into business in January. I've highlighted the paragraph that talks about Pokemon, and the Wal-Mart deal. Also there is a CBS Marketwatch paragraph listed below with BAMM as a stock to watch tomorrow. Russ
Tuesday November 16, 4:01 pm Eastern Time
Company Press Release
Books-A-Million, Inc. Reports Outstanding Comparable Store Sales Increase of 12.2%
BIRMINGHAM, Ala.--(BUSINESS WIRE)--Nov. 16, 1999--Books-A-Million, Inc. (Nasdaq/NM:BAMM - news) today announced financial results for the third quarter and nine months ended October 30, 1999. For the quarter, net sales increased 15.5% to $91.2 million from sales of $79.0 million in the year-earlier quarter. Comparable store sales for the quarter reflected a record increase of 12.2%. Earnings before interest, taxes and depreciation for the third quarter increased 32.3% to $3.1 million versus $2.3 million in the year-earlier period. The Company reported a net loss for the third quarter of $924,000, or $0.05 per diluted share, compared with a net loss of $1,459,000, or $0.08 per diluted share, for the third quarter of fiscal 1999.
For the nine-month period ended October 30, 1999, net sales increased 15.0% to $266.2 million from sales of $231.4 million for the year-earlier period. Comparable store sales increased 7.5% for the nine-month period. Earnings before interest, taxes and depreciation for the nine-month period increased 23.3% to $12.5 million compared with $10.2 million in the year-earlier period. The Company reported a net loss of $595,000, or $0.03 per diluted share, compared with a net loss of $1,963,000, or $0.11 per diluted share, for the same period in fiscal 1999.
Commenting on the results, Clyde B. Anderson, Chief Executive Officer said, ''We are very pleased by the quarter's outstanding comparable store sales results. Sales increased in our core book business and across a broad range of merchandise categories. Our collectible category saw strong increases led by the phenomenal success of Pokemon as well as the increased interest in coin collecting.''
Anderson continued, ''Sales at Booksamillion.com continue to grow at a rapid pace, led by strong sales of Pokemon, the Harry Potter series, Tim Lahaye's Left Behind titles and the continued strength of our business-to-business sales efforts. We are also excited about our alliance with Wal-Mart. We have been working closely with the Wal-Mart development team and are looking forward to supporting the launch of their enhanced Website early in the New Year.''
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 182 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.
BOOKS-A-MILLION, INC.
Unaudited Consolidated Financial Highlights
(In thousands, except per share data)
Thirteen Weeks Ended
Oct. 30, Oct. 31,
1999 1998
-------- --------
Net sales $ 91,162 $ 78,962
Earnings before interest, taxes
and depreciation 3,098 2,342
Operating loss (319) (1,026)
Net loss $ (924) $ (1,459)
======== ========
Loss per share - diluted $ (0.05) $ (0.08)
======== ========
Weighted average number of shares
outstanding - diluted 18,236 17,404
======== ========
Thirty-nine Weeks Ended
Oct. 30, Oct. 31,
1999 1998
-------- --------
Net sales $266,167 $231,386
Earnings before interest, taxes
and depreciation 12,528 10,163
Operating income 2,394 460
Net loss $ (595) $ (1,963)
======== ========
Loss per share - diluted $ (0.03) $ (0.11)
======== ========
Weighted average number of shares
outstanding - diluted 18,236 17,428
======== ========
And here is the CBS Marketwatch article.
"Books-A-Million's (BAMM: news, msgs) stock may get a boost Wednesday after the online book retailer reported a slimmer-than-expected third-quarter loss. The company said it lost $924,000, or 5 cents a share, compared with a loss of $1.45 million, or 8 cents last year. Analysts surveyed by First Call expected the company to report a 6-cent deficit. Sales increased 15 percent to $91.2 million from $79 million in the year-earlier quarter.
Books-A-Million stock closed up 1/8 at 11 1/4."
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