Books-A-Million#2nd and Charles
{{Short description|Bookstore chain}}
{{Use mdy dates|date=December 2016}}
{{Infobox company
| name = Books-A-Million Inc.
| logo = File:Books-A-Million_logo.svg
| image = File:Books-A-Million in Cuyahoga Falls, Ohio.jpg
| image_caption = A Books-A-Million store in Cuyahoga Falls, Ohio
| type = Private
(1917–1992 and 2015–present)
Public
(1992–2015)
| traded_as =
| foundation = {{Start date and age|1917}} in Florence, Alabama
| founder = Clyde W. Anderson
| hq_location = Birmingham, Alabama
| locations = 260
| key_people = {{nowrap| Clyde B. Anderson, Chairman
Terrance G. Finley, CEO & President
R. Todd Noden, CFO}}
| revenue = {{increase}} $934 million (2022)
| operating_income = {{increase}} $4.619 million (2014)
| net_income = {{increase}} $2.908 million (2014)
| assets = {{decrease}} $294.251 million (2014)
| equity = {{increase}} $113.264 million (2014)
| num_employees = 5,000 (2022)
| owner = Anderson family (100%)
| subsid = Yogurt Mountain (40%)
| industry = Retail
Entertainment|
| homepage = {{URL|https://www.booksamillion.com/}}
| footnotes = {{cite web | url=https://www.sec.gov/Archives/edgar/data/891919/000089191915000011/bamm-4162015x10k.htm | title=Books-A-Million Inc. 2014 Form 10-K Annual Report | publisher=U.S. Securities and Exchange Commission}}
}}
File:HoustonPavilionsHoustonTX.JPG, Downtown Houston]]
File:Books-A-Million, Sawgrass Mills, Sunrise, Florida February 20, 2022.jpg, Sunrise, Florida]]
Books-A-Million, Inc., also known as BAM!, is a bookstore chain in the United States, operating 260 stores in 32 states.{{cite web | url=https://www.booksamillion.com/aboutus | title=Books-A-Million: About Us | publisher=Books-A-Million}} Stores range in size from 4,000 to 30,000 square feet and sell books, magazines, manga, collectibles, toys, technology, and gifts. Most Books-A-Million stores feature "Joe Muggs" cafés, a coffee and espresso bar.
Stores operate under the names Books-A-Million, Bookland, Books & Company, and 2nd & Charles.{{cite press release | url=https://www.businesswire.com/news/home/20151210006077/en/Books-A-Million-Completes-Go-Private-Transaction | title=Books-A-Million, Inc. Completes Go-Private Transaction | publisher=Business Wire | date=December 10, 2015}}
The company owns Yogurt Mountain Holding, a frozen yogurt retailer and franchisor with 40 locations, as well as Preferred Growth Properties, which develops and manages commercial real estate investments. It owns and operates American Wholesale Book Company (AWBC), an e-commerce division operating as booksamillion.com; and an internet development and services company, NetCentral, in Nashville, Tennessee.
In December 2015, the company was acquired by its chairman, Clyde B. Anderson, and his family, for $21 million.{{cite news | url=https://www.wsj.com/articles/books-a-million-in-21-million-buyout-deal-with-chairman-1436833186 | title=Books-A-Million in $21 Million Buyout Deal With Chairman | first=Josh | last=Beckerman | work=The Wall Street Journal | date=July 13, 2015 |url-access=subscription}}
History
Books-A-Million was founded in 1917 in Florence, Alabama, as a newsstand by 14-year old Clyde W. Anderson, who dropped out of school to support his family after his father died.{{cite web | url=http://www.encyclopediaofalabama.org/article/h-1619 | title=Books-A-Million | first=Herbert Jim | last=Lewis | publisher=Encyclopedia of Alabama}} Anderson saw a business opportunity after workers on the nearby Wilson Dam complained that they could not get their hometown newspapers.
In 1950, Charles C. Anderson, the founder's son, inherited the store and expanded it into a chain. The company incorporated as Bookland in 1964.
By 1980, the company had 50 stores.
In 1988, Bookland acquired the Gateway Books retail chain based in Knoxville, Tennessee. The same year, the company opened its first superstore format store.
In 1992, the company changed its name to Books-A-Million, Inc. and became a public company via an initial public offering of 2.6 million shares at a price of $13 per share.{{cite news | url=https://books.google.com/books?id=ZXUOASHVf_YC&pg=PA170 | title=How Net Fever Sent Shares of a Firm on a 3 Day Joy Ride | first1=Carrick | last1=Mollencamp | first2=Karen | last2=Lundergaard | work=The Wall Street Journal | date=December 9, 1998| isbn=9780393065145 }}
In 1998, the company launched its website, booksamillion.com.
On November 25, 1998, during the dot-com bubble, the stock price soared from $3 per share to $38.94 on November 27, 1998, and an intra-day high of $47.00 on November 30, 1998, after the company announced an updated website. Two weeks later, the share price was back down to $10. By 2000, the share price had returned to $3. Those days included suspenseful times for day traders, such as when the stock moved up 6 points in 13 minutes. During this time, insiders sold hundreds of thousands of shares.{{cite web | title=CNNfn market movers | url=https://money.cnn.com/1998/11/25/markets/hotstox2p/ | work=CNN | date=November 25, 1998}}
In 1999, the company acquired NetCentral, the designer of its website, and began operating American Wholesale Book Company, a book wholesaler and distributor.
In April 2010, the company paid $3 million for a 40% stake in Yogurt Mountain, a frozen yogurt retailer and franchisor.{{cite news | url=https://www.bizjournals.com/birmingham/stories/2010/04/12/daily48.html | title=Books-A-Million paid $3M for Yogurt Mountain stake | first=Jimmy | last=DeButts | work=American City Business Journals | date=April 16, 2010}} Six months later, the company opened Yogurt Mountain locations in its bookstores.{{cite news | url=https://www.theledger.com/news/20101025/yogurt-mountain-coming-soon-to-books-a-million | title=Yogurt Mountain Coming Soon to Books-a-Million | first=Sarah | last=Stegall | work=The Ledger | date=October 25, 2010}}
In September 2010, the company launched 2nd & Charles, a trader of used media, with its first store in Hoover, Alabama across from Riverchase Galleria.{{cite news | url=http://blog.al.com/businessnews/2010/09/new_idea_in_used_books_2nd_and.html | title=New idea in used books: 2nd and Charles opens with recycling theme | first=Dawn | last=Kent Azok | work=The Birmingham News | date=September 25, 2010}}
In December 2015, the company was acquired by its chairman, Clyde B. Anderson, and his family, for $21 million, taking the company private and delisting its shares from the Nasdaq.{{cite news | url=https://www.al.com/business/2015/07/books-a-million_private_again.html | title=Books-A-Million may go private again: Anderson family buying company, pending shareholder approval | first=Kelly | last=Poe | work=The Birmingham News | date=July 13, 2015}}
In November 2016, the company began to sell self-published books.{{cite news | url=https://www.al.com/business/2016/11/books-a-million_distributing_s.html | title=Books-A-Million to begin selling self-published books | first=Kelly | last=Poe | work=The Birmingham News | date=November 4, 2016}}
See also
References
{{Reflist|1}}
External links
{{Commons}}
{{Portal|United States|Companies|Books}}
- {{official website|https://www.booksamillion.com/}}
{{Bookstore Chains}}
{{Dot-com Bubble}}
{{Authority control}}
Category:1917 establishments in Alabama
Category:1992 initial public offerings
Category:Chain bookstores of the United States
Category:Book selling websites
Category:Companies based in Birmingham, Alabama
Category:Retail companies established in 1917