What is books a million

Bookland began opening new superstores at a rate of about ten per year while continuing to operate its smaller stores. Most of the company's 50 Bookland stores were located in shopping malls with department store anchors such as Sears and J. Penney's, or discounters like Wal-Mart or Kmart. Some of these were maintained according to their original format; others were converted to combination stores.

In a interview with Retailing Today, Anderson explained the reasons behind the decision to develop combination stores: 'We're from a small town and we wanted a concept that would work in a small town. We found that some of these small towns couldn't support just a book store. But if you could have a combination book and something else--we developed a combination books and cards--that the economies of that may work.

In the company changed its name to Books-A-Million, Inc. A secondary stock offering in October sold 1. That year, Clyde B. Anderson became CEO. His father remained chairman, and Charles Anderson, Clyde's brother, took over the family's wholesale book and periodical distributorship.

The Anderson brothers proved to have a knack for marketing. A prime example of his strategy occurred in , the year the University of Alabama upset Miami in the Sugar Bowl. Although Sports Illustrated had decided not to feature the event as its cover story, the Anderson brothers convinced the magazine's editors to print , special editions of the magazine, put Alabama running back Derrick Lassic on the cover, and add additional stories about the Alabama victory.

By Books-A-Million operated stores in cities and small towns across the southeastern Unites States. As the company grew, Anderson continued to expand the concept of a superstore.

In addition to positioning itself as a bargain book outlet, Books-A-Million began developing the concept of book-store-as-entertainment. Events such as book signings and readings especially by Southern authors became regular features, along with book-buying clubs and special discount cards.

The company also strove to develop its customer service: book searches, special orders, and free gift wrapping encouraged customer loyalty. In about ten Books-A-Million stores contained espresso bars, which contributed to the store's image as a place to sit and enjoy books. Even the stores' hours of operation, from 9 a. Books-A-Million also instituted a number of programs aimed at encouraging reading among children.

By many stores contained separate Kids-A-Million departments, colorful sections that offered a large selection of gifts, books, and videos for children. Weekly story hours were held, and the company supported local schools by offering discounts on library material and ordering bulk shipments of books on classroom reading lists. In fiscal Books-A-Million had a profit margin of. The company operated 84 Bookland stores and 29 superstores and was continuing to expand rapidly. By December , the company operated 43 superstores across the southern United States.

Twenty more superstores were opened in fiscal Less desirable locations were shopping centers with upscale neighboring tenants such as the Talbot's clothing chain, or, on the opposite end, bargain factory outlets. Some analysts feared that Books-A-Million superstores were pulling customers from its own Bookland stores, but Anderson told a group of investors in that sales erosion was minor and was 'more than offset by efficiencies in advertising and transportation costs. Same-store sales increased Over the next two years, Books-A-Million continued to fare very well.

The company is the second-largest book retailer in the United States, with stores in 33 states and the District of Columbia. The company in introduced a used book resale concept, 2nd and Charles, which has 23 store locations. Books-A-Million is targeting the opening of 30 new stores this year, including eight new 2nd and Charles locations. The company opened 12 new stores last year. Adaptability to industry trends has been a long-running theme for Books-A-Million, which was started as a street corner newsstand in Florence, Ala.

The company, formerly known as Bookland, grew to become a staple in malls and strip centers in the East and South during the s. In the s, the company changed its name to Books-A-Million. In , Books-A-Million became the second-largest book retailer in the United States after the announcement from larger rival Borders Group that it was liquidating all of its assets and going out of business.

The company purchased 14 of Borders' locations in August In late the Anderson family resumed controlling interest in Books-A-Million, making it a private company again.

Clyde B. Anderson , grandson of the founder, is executive chairman of the board. Douglas Markham became chief financial officer after Richard Wallington 's retirement on July 5, Todd Noden was named president of the company in December Jump to: navigation , search.