Profits up at Books-A-Million, new CEO named

BIRMINGHAM, Ala. — Books-A-Million's quarterly profit edged up to $7.6 million, from $6.7 million a year earlier. Sales increased 10.7% to $166.9 million, from $150.8 million. Same-store sales declined 5.7%. During the quarter, the retailer said it incurred costs of $1.6 million related to the closing of 21 underperforming locations and the opening of 41 new Bam! stores in October and November. For the full year, Books-A-Million reported that it lost $2.5 million, compared with a $9 million profit in 2011. Sales dropped 3.6% to $468.5 million and same-store sales declined 9.5%. Commenting on the results, Clyde Anderson,