Overall sales actually rose at Books-a-Million in the first quarter, up $2.3 million to $118.2 million, while same-store sales slid 1.1 percent. Net income rose to $2.1 million, though much of the gain came from savings on stocks grants and compensation forfeited when ceo Sandra Cochran left the company. CEO Clyde Anderson says in the release, “Given the difficult economic environment, we’re pleased with our results for the quarter. While comparable sales numbers were down slightly, they represented an improvement over recent quarters, and our continued focus on cost control, gross margin and inventory management delivered improved earnings.”
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At Canada’s dominant chain Indigo, sales rose 4 percent for their fiscal fourth quarter, ending March 28. Sales were $214.5 million (CA), up 3.8 percent on a same-store basis at the superstores, and up 6.2 percent at their smaller format stores. But online sales fell, by 6.5 percent, to $23.1 million.
Net income was $1.9 million, down $1.2 million from last year. The company has initiated a quarterly dividend of 10 cents a share (or 40 cents a share annually.) Sales for the full year wer $940 million, up 1.9 percent from a year ago.
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