Madison Reed has raised $32.1 million since launching 15 months ago.
But the books and accessories retailer’s store sales increase.
Third quarter e-commerce sales fell for Books-A-Million Inc. as did same-store sales, but total sales at the retailer’s bricks-and-mortar locations improved.
For the third quarter of fiscal 2013 ended Oct. 27, Books-A-Million, No. 398 in the Internet Retailer Top 500 guide reported:
- Online sales of $5.9 million, a 6.3% decrease from $6.3 million in the third quarter of 2012.
- Store sales of $100.9 million, a 10.0% increase from $91.7 million in the year-ago quarter.
- Comparable-store sales decreased 3.6%.
- Total sales of $104.7 million, up by 10.9% from $94.4 million. Total sales are less than e-commerce and store sales combined because of about $2.1 million in reductions made to account for sales between the channels, which the company calls intersegment sales elimination. Books-A-Million did not break out those adjustments by channel.
- Net loss was $2.8 million compared with a net loss of $4.0 million in the prior-year period.
E-commerce accounted for 5.6% of total sales compared with 6.7% in Q3 2012.
Books-A-Million attributed the decline in e-commerce sales primarily to lower sales of e-reader devices. Overall sales for the quarter, however, reflected stabilization in the retailer’s core book business and better sales of toys and games, says Terrance G. Finley, CEO and president.
For the first three quarters of the fiscal year, Books-A-Million reported:
- Online sales of $18.8 million, a 3.1% decrease from $19.4 million for the first nine months of 2012.
- Store sales of $329.7 million, a 12.7% increase from $292.5 million a year ago.
- Comparable-store sales decreased 2.4%.
- Total sales of $338.2 million, up by 12.1% from $301.6 million, after subtracting intersegment sales as noted above.
- Net loss was $5.6 million compared with a net loss of $10.4 million in the prior-year period.
Web sales accounted for 5.6% of total sales compared with 6.4% in Q3 2011.