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Books-A-Million history
Books-A-Million company history timeline
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.
Nearby bookstores like DJ Earnst, founded even before the Mall in 1975, sell only used books, so despite the chain appearance, the Selinsgrove BAM has carved itself out a niche.
The first branded “Books-A-Million” was opened in 1988, which marked its expansion into the superstore format, the beginning of that absence of individuality.
In 1988, Bookland acquired the Gateway Books retail chain based in Knoxville, Tennessee.
1989--91: Expanding the Superstore Format as Competition Stiffens
1992--97: Going Public and Refining the Superstore Concept
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.
In 1993 about ten Books-A-Million stores contained espresso bars, which contributed to the store's image as a place to sit and enjoy books.
In fiscal 1994 Books-A-Million had a profit margin of .046, the highest in the book superstore business, on net sales of $123.3 million.
New stores were reported to cost $825,000 to build, but in 1994 start-up costs were recouped in less than one year.
Twenty more superstores were opened in fiscal 1995.
Books-A-Million, Inc., is the fourth-largest book retailer in the United States, with combined annual sales of $172.3 million in fiscal 1995.
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.
In 1998, the company launched its website, booksamillion.com.
In 1999, the company acquired NetCentral, the designer of its website, and began operating American Wholesale Book Company, a book wholesaler and distributor.
2000: Charles Anderson retires, ceding company chairmanship to Clyde B. Anderson, the founder's grandson.
Gale, Thompson. “Books-A-Million, Inc.” The Columbia Encyclopedia,6th Ed, Encyclopedia.com, 2006,
In April 2010, the company paid $3 million for a 40% stake in Yogurt Mountain, a frozen yogurt retailer and franchisor.
In September 2010, the company launched 2nd & Charles, a trader of used media, with its first store in Hoover, Alabama across from Riverchase Galleria.
It moved into the mall in November of 2011 with a wave of nine other BAM locations in former Borders stores.
In December 2015, the company was acquired by its chairman, Clyde B. Anderson, and his family, for $21 million.
In November 2016, the company began to sell self-published books.
Books-A-Million’s website sales make up 8% of the online book market (that is, buying physical books online) compared to Amazon’s 81% and Barnes & Noble’s 28%, but 8% of a $3.1 billion industry is nothing to be scoffed at, and that’s just the online sales. (Author Earnings, 2017)
Despite the incessant apocalyptic proclamations about the future of bookselling, all the reports are saying that book sales were up 2.5% in 2018 from the previous year.
Rate how well Books-A-Million lives up to its initial vision.
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Books-A-Million competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Nordstrom | 1901 | $15.0B | 74,000 | 1,440 |
| Buckle | 1948 | $1.2B | 9,000 | 5,113 |
| Kohl's | 1962 | $16.2B | 110,000 | 1,562 |
| Walgreens | 1901 | - | 210,500 | 22,534 |
| Shoe Carnival | 1978 | $1.2B | 2,300 | 628 |
| Jo-Ann Stores | 1943 | - | 23,000 | 36 |
| Dillard's | 1938 | $6.6B | 40,000 | 19 |
| Powell's Books | 1971 | $45.0M | 500 | - |
| Tailored Brands | 1973 | $2.9B | 19,300 | 1,795 |
| Barnes & Noble | 1886 | $1.6B | 15,557 | 1,362 |
Books-A-Million history FAQs
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Books-A-Million may also be known as or be related to American Wholesale Book Company, Inc., Books A Million, Books A Million Inc, Books A Million Inc., Books-A-Million, Books-A-Million Inc and Booksamillion.com, Inc.