Losses mount faster in stores than online for Books-A-Million in Q2
August 28, 2013 03:02 PM
Comparable-store sales for retail chain book seller Books-A-Million Inc. declined by 12.0% year over year in the second quarter, to $103.69 million from $117.83 million in Q2 2012, the company says.
The retailer has not yet released its full earnings filing with the U.S. Securities and Exchange Commission, which typically include e-commerce sales. But based on the available data, Internet Retailer calculates that e-commerce sales were down by about 3.0% year over year, to roughly $5.51 million from $5.68 million in Q2 2012. That percentage is based on subtracting total retail store sales from total revenue to find e-commerce sales in Q2, then comparing that number to the corresponding value from last year.
For the second quarter ended Aug. 3, 2013, Books-A-Millionalso reports that net revenue decreased by 8.6% year over year, to $109.2 million from $119.5 million in Q2 2012.
For the first six months of 2013, the company reports:
- Net revenue decreased by 8.0% year over year, to $213.2 million from $231.8 million in the first half of 2012.
- Comparable-store sales declined by 9.5%.
“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,” says Books-A-Million president and CEO Terrance G. Finley. Competitor Barnes & Noble Inc. also cited the waning sales of those titles, both hits in 2012, as a factor in its own revenue declinein the most recent quarter.
“In addition we continued to see softening in sales of e-reading devices and slower growth of digital content,” Finley says. “Our general merchandise categories and Internet business performed well in the quarter.”
Books-A-Million is No. 453 in the 2013 Top 500 Guide. BarnesandNoble.com in No. 27.