Like Barnes & Noble, Books-A-Million reported sagging sales in the third quarter. Net sales for the period ended November 1 fell 5.7% to $111 million, and the net loss was $2.2 million compared to a net loss of $555,000 in the third quarter of 2007. Sales at stores open at least a year dropped 9.9%.
In a statement, president and CEO Sandra B. Cochran commented: "We faced dramatic macroeconomic headwinds, and as a result we experienced our weakest comparable store sales in many years. The negative trends were broadly felt across most categories although bargain books, gifts and teen provided positive results. Our entire team remains focused on adjusting to this difficult environment by controlling costs, managing inventory and preparing for the holiday season."