In its second-largest acquisition, Amazon buys the company for $970 million.
Overall sales declined 2.7%.
The web outperformed stores at Books-A-Million Inc. in fiscal 2011.
For the 2011 fiscal year ended Jan. 29, Books-A-Million reported:
- Web sales were $26.2 million, up by about 10% from $23.8 million in fiscal 2010. The increase was primarily due to sales of Nook electronic book readers and branded accessories, and of e-book content, the company says.
- Total sales were $494.9 million, down by 2.7% from $508.6 million.
- Comparable-store sales declined 4.9%.
- Net income was $8.9 million, down by 35.5% from $13.8 million in the prior year.
Internet Retailer calculates the web accounted for 5.3% of total sales for fiscal 2011, compared with 4.7% in the prior year.
For the fourth quarter, Books-A-Million did not break out web sales, but did report:
- Total sales were $153.1 million, a 2.5% decrease from $157.1 million.
- Comparable-store sales declined 6.7%.
- Net income totaled $6.7 million, down by 43.7% from $11.9 million in the prior year.
“The results for the fiscal year illustrate a dynamic and rapidly changing retail environment for booksellers,” says Clyde B. Anderson, chairman, president and CEO at Books-A-Million, No. 350 in the Internet Retailer Top 500 Guide. “We were pleased with the results of the launch of our partnership with the Nook range of e-readers in the fourth quarter and the performance of the new and expanded toy and game business as well as our entry into the electronic accessory category.”
The Nook is an e-reader developed by Barnes & Noble Inc., No. 42 in the Top 500 Guide.