Books-A-Million, Inc. (NASDAQ:BAMM) today announced that sales
for the nine-week period ended January 2, 2010, totaled $122.1 million
compared with $127.9 million during the same period of fiscal 2009, a
decrease of 4.5%. Comparable store sales for the period decreased 6.2%
compared with the same period of fiscal 2009. For the first 11 months of
fiscal 2010, sales decreased 1.0% to $473.6 million from $478.5 million
in the year-earlier period. Comparable store sales for the first 11
months of fiscal 2010 decreased 3.7% compared with the same period of
fiscal 2009.
Commenting on the results, Clyde B. Anderson, Chairman, President and
Chief Executive Officer, said, "Given the challenging comparison to last
year’s phenomenal success of Stephenie Meyer’s Twilight series,
we were pleased with our execution during the holiday season. As was the
case last year, customers shopped late in the season and proved to be
value conscious responding well to our marketing efforts, bargain book
department and in-store promotions.”
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 more than 200 stores in 22 states and the
District of Columbia. The Company operates large superstores under the
names Books-A-Million and Books & Co. and traditional bookstores
operating under the name Bookland and Books-A-Million. The common stock
of Books-A-Million, Inc. is traded on the NASDAQ Global Select Market
under the symbol BAMM. For more information, visit the Company’s website
at www.booksamillioninc.com.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995:
This document contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 that
involve a number of risks and uncertainties.
A number of factors
could cause actual results, performance, achievements of the Company, or
industry results to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements.
These factors include, but are not limited to, the
competitive environment in the book retail industry in general and in
the Company's specific market area; inflation; economic conditions in
general and in the Company's specific market areas, including the length
of time that the U.S. economy remains in the current recession; the
number of store openings and closings; the profitability of certain
product lines, capital expenditures and future liquidity; liability and
other claims asserted against the Company; and uncertainties related to
the Internet and the Company's Internet initiative.
In addition,
such forward-looking statements are necessarily dependent upon
assumptions, estimates and dates that may be incorrect or imprecise and
involve known and unknown risks, uncertainties and other factors.
Accordingly,
any forward-looking statements included herein do not purport to be
predictions of future events or circumstances and may not be realized.
Given these uncertainties, shareholders and prospective investors are
cautioned not to place undue reliance on such forward-looking statements.
The Company disclaims any obligations to update any such factors or
to publicly announce the results of any revisions to any of the
forward-looking statements contained herein to reflect future events or
developments.
