For the first 11 months of fiscal 2007, sales increased 1.0% to $470.2 million from $465.7 million in the year-earlier period. Comparable store sales for the first 11 months of fiscal 2007 decreased 0.4% compared with the same period of fiscal 2006.
Commenting on the results, Sandra B. Cochran, President and Chief Executive Officer, said, “Sales for the holiday season were below expectations as we confronted a quiet media environment and strong comparable sales in the prior year. The absence of a major movie tie-in affected both traffic and sales. A strong lineup in fiction performed well but could not offset the performance of the media-related titles in fiscal 2006. Bestsellers for this season included John Grisham’s The Innocent Man, Bill O’Reilly’s Culture Warrior, Paula Deen’s Celebrations and Barack Obama’s The Audacity of Hope.”
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 209 stores in 20 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, Books-A-Million and Joe Muggs Newsstands. The common stock of Books-A-Million, Inc. is traded on the NASDAQ Stock Market’s Global Select Market under the symbol BAMM.
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; 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; 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.
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