Books-A-Million: A Brief Overview
Books-A-Million is an American bookstore chain operating 260 stores in 32 states. The stores range from 4,000 to 30,000 square feet. They sell books, magazines, manga, collectibles, toys, technology, and gifts. Most stores have cafés called "Joe Muggs" that serve coffee and espresso. The stores operate under the names Books-A-Million, Bookland, Books & Company, and 2nd & Charles.
Recent Developments and Ownership
In 2015, Books-A-Million bought 40% of Yogurt Mountain, a frozen yogurt franchise start-up, for $3 million. They also committed to providing a $1.5 million credit line. The family of Charles C. Anderson, the founder’s son, owns Books-A-Million today. Each son runs one of the Anderson companies.
Position in the Market and Operations
Barnes & Noble’s largest physical bookstore rival is Books-A-Million, which does not operate in the western US. The company headquarters is in Birmingham, Alabama. Employees at Books-A-Million rate their company a 3.1 out of 5 on CareerBliss, 23% lower than average. In December 2015, the chairman Clyde B. Anderson and his family acquired the company for $21 million.
Bookstore Services and Offerings
The bookstore chain sells more than just books, offering services like online ordering, in-store pickup, and a loyalty program that rewards customers with discounts for $25 per year. Books-A-Million also hosts events like book signings and readings.
Challenges and Considerations
One major disadvantage is the smaller selection of books compared to other stores. Prices may also be higher. It is advisable to compare prices and look for loyalty programs and coupons to save money. Although market capitalization has over a 50% discount to tangible book value, it lacks robustness.