Home

Books-A-Million fiscal 1Q profit sinks 57 percent

By Associated Press
May 22, 2008 | Comments (0)

Recs

0

Books-A-Million Inc.'s profit sank 57 percent in the fiscal first quarter as sales slipped, the book retailer said Thursday.

Books-A-Million earned $906,000, or 6 cents per share, compared with profit of $2.1 million, or 13 cents per share, in the fiscal first quarter last year.

Sales slipped 1 percent to $115.5 million from $116.3 million.

Same-store sales, or sales at stores open at least a year, fell 3.4 percent in the quarter ended May 3. Same-store sales is an important retail indicator because it measures performance at existing stores rather than newly opened ones.

Chief Executive Sandra B. Cochran said in a statement Books-A-Million, which runs more than 200 bookstores in 20 states, suffered from a "very challenging economic environment."

The company is trying to manage inventory and control costs while marketing to a cost-conscious consumer.

Shares of Books-A-Million added 22 cents, or 2.8 percent, to close at $7.97.

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

DocumentId: 651020, ~/articles/articlehandler.aspx, 12/2/2008 7:39:23 AM,

Sign up for FREE Motley Fool site access to keep reading:

“Books-A-Million fiscal 1Q profit sinks 57 percent”

Signing up allows you to comment on articles and on the discussion boards.

It's completely FREE and will take only 10 seconds.

Privacy / Legal Information

We will use your email address only to keep you informed about updates to our web site and about other products and services that we think might interest you. The Motley Fool respects your privacy. Please read our Privacy Statement

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.