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'''Books-A-Million''' (Nasdaq: BAMM) is the third-largest book retailer in the United States.  The corporate office is located at 402 [[Industrial Lane]] in [[Birmingham]]'s [[Oxmoor Industrial Park]].
'''Books-A-Million''' is a major privately-owned book retailer headquartered at 402 [[Industrial Lane]] in [[Birmingham]]'s [[Oxmoor Industrial Park]]. [[Terrance Finley]] is the company's chief executive officer.


== Brands and structure ==
The company was founded in Florence, Lauderdale County by 14-year-old Clyde Anderson in [[1917]]. After Anderson's father died, he began delivering newspapers to support his family. He heard the complaints of construction workers from other states who were working on [[Wilson Dam]] that they missed their hometown newspapers and worked out an arrangement with publishers and railroads to bring them to Florence where he sold them from a shed pieced together from old piano crates. He added books and fireworks to his inventory and, within a few years, opened a downtown bookstore with his brother.
In addition to its flagship superstores, Books-A-Million operates shopping mall book and greeting card stores under the name '''Bookland'''. Most Books-A-Million branded stores feature a '''Joe Muggs''' coffee bar, also the name used for the company's free-standing newsstand operations.  In addition to its primary retail component, the corporation includes two book wholesale and distribution subsidiaries, American Wholesale Book Company and Book$mart, Inc., both located in Florence, an e-commerce division operating as '''booksamillion.com''', and acquired an internet development and services company, NetCentral, based in Nashville, in [[1999]]. The '''Books & Company''' badge, used on its [[Brookwood Village]] store to signal a more sophisticated and comprehensive flagship store, has been retired.


As of 2005 the company has 205 stores in 19 states and the District of Columbia, with about 4,900 employees. It's 2005 sales totaled $503,751,000.00. The company has budgeted $22 million for construction and renovation of stores in 2007.  
In the 1950s, under the guidance of Anderson's son [[Charles Anderson|Charles]], the company expanded its book store business, opening '''Bookland''' stores across the South, primarily in enclosed shopping malls. The firm was incorporated under that name in [[1964]].


== History ==
Bookland acquired Gateway Books of Knoxville, Tennessee in [[1988]], but ended up closing 33 underperforming locations. With the excess inventory, he opened his first "Books-A-Million" superstores, with room to display discounted overstock. The success of that model led Anderson to pursue the concept of positioning a bookstore as a destination retailer. In [[1992]], he changed the name of the company to Books-A-Million and took it public. Its initial offering on the NASDAQ exchanged valued the company at $33.8 million. The infusion of capital allowed the company to expand, and by [[1993]] it was operating 84 Bookland stores and 29 Books-A-Million "superstores". The company emphasized its regional presence by promoting Southern authors and subjects of particular interest, such as college sports.
Books-A-Million was founded in [[1917]] as a street corner newsstand in Florence, [[Alabama]] by Clyde Anderson when he was 13-years-old. He started out selling books out of a piano crate to support his siblings. In [[1992]], the company went public.
 
Books-A-Million's shares peaked at $47 per share during a [[1998]] Thanksgiving weekend frenzy, fueled by internet chat rooms, which followed the announcement of a redesigned website. The high valuation triggered a sell-off, led by officers of the company and members of the Anderson family, dropping the price to $10 per share within two weeks. In [[1999]] Books-A-Million acquired the internet development and services company which had built its website, NetCentral of Nashville, Tennessee.
 
In [[2011]] Books-A-Million had over 200 stores in 23 states and the District of Columbia, and employed around 5,500 people. It became the second-largest book retailer in the United States after Borders Group announced that it was liquidating all of its assets and going out of business. Books-A-Million purchased 14 former Borders' locations in August 2011.
 
In 2014, Books-A-Million was singled out by ''24/7 Wall Street'' as America's worst company to work for, citing low satisfaction among employees due to, "high stress and low pay...low chance of promotion, [and] hours are based on magazine and discount card sales." In late [[2015]] the Anderson family resumed controlling interest in Books-A-Million, returning it to private ownership.
 
==Divisions==
In addition to its Bookland and Books-A-Million stores, the company has also operated news stands under the '''Joe Muggs''' name. The '''Books & Company''' badge, formerly used on its [[Brookwood Village]] store to signal a more sophisticated and comprehensive flagship store, was later retired.
 
In [[2010]] the company launched a "2nd & Charles" division which buys and sells used books, toys, games and music alongside new merchandise. That division expanded to 44 stores in 18 states by [[2022]].
 
Books-A-Million also operates two book wholesale and distribution subsidiaries, American Wholesale Book Company and Book$mart, Inc., both located in Florence; an e-commerce division operating as '''booksamillion.com'''.
 
The company also has a commercial real estate development and management division, operating as '''Preferred Growth Properties'''. It also owns a 40% share of the [[Yogurt Mountain]] chain of frozen yogurt shops.


== Officers ==
== Officers ==
The company is headed by President and CEO [[Sandra Cohcran]]. Former CEO [[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, 2006. [[Terrance G. Finley]] is president of the Books-A-Million Merchandising Group.
The company is headed by CEO [[Terrance Finley]]. [[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, 2006. [[Todd Noden]] was named president of the company in December [[2019]].
 
===CEOs===
* [[Clyde B. Anderson]], –2004
* [[Sandra Cochran]], 2004–2009
* Clyde B. Anderson, 2009–2012
* [[Terrance Finley]], 2012–
 
==Locations==
=== Current stores ===
* Books-A-Million store #108: [[Propst Promenade]], [[Alabaster]] (2005–present)
* Books-A-Million store #394: 3429 [[Lowery Parkway]], [[Promenade Fultondale]], [[Fultondale]] (November 3, 2007–)
* Books-A-Million store #216: 1624 [[Gadsden Highway]], [[Colonial Promenade Tutwiler Farm]], [[Trussville]] (2000–)
* Books-A-Million store #299: 719 2nd Avenue Northwest, [[Cullman]]
* 2nd & Charles: [[Riverchase Promenade]], 1705 [[Montgomery Highway Hoover|Montgomery Highway]], [[Hoover]] (2011–)
* 2nd & Charles: 2306 [[McFarland Boulevard]], [[Tuscaloosa]] (March 17, 2022–)


== Greater Birmingham locations ==
=== Former stores ===
=== Bookland ===
* '''Books-A-Milion'''
* [[Brookwood Village]], [[Homewood]] (c. 1980s)
** [[Eastwood Mall]], [[Birmingham]] (1989–February 25, 2006)
* [[Century Plaza]], [[Birmingham]] (1970s to 1990s)
** Books-A-Million store #180: [[Brookwood Village]], [[Homewood]] (2006– May 2020, formerly Books & Company)
* Store #200, [[Riverchase Galleria]], [[Hoover]] ([[1986]]?–January 13, [[2007]])
** Books-A-Million store #202: [[Hoover Commons]], [[Hoover]]
** Books-A-Million store #220: [[Homewood Commons|Wildwood North]], [[Homewood]] (c. 2001–September 2011)
** Books-A-Million store #181: 5287 [[U.S. Highway 280]], [[Brook Highland Plaza]], [[Birmingham]] (c. 1995-January 2022)


=== Books & Company ===
* '''Bookland'''
* [[Brookwood Village]], [[Homewood]] ([[2002]] - [[2006]]
** [[Brookwood Village]], [[Homewood]] (c. 1980s)
** [[Century Plaza]], [[Birmingham]] (1970s–1990s)
** Store #200, [[Riverchase Galleria]], [[Hoover]] (1986–January 13, 2007)


=== Books-A-Milion ===
* '''Books & Company'''
* Store #180, [[Brookwood Village]], [[Homewood]] (?–present)
** [[Brookwood Village]], [[Homewood]] (2002–2006, rebranded as Books-A-Million)
* Store #108, [[Colonial Promenade Alabaster]], [[Alabaster]] ([[2005]]–present)
* [[Eastwood Mall]], [[Birmingham]] ([[1989]]–February 25, [[2006]])
* Store #202, [[Hoover Commoons]], [[Hoover]] (?–present)
* Store #220, [[Wildwood]], [[Homewood]] (?–present)
* Store #181, [[Brook Highland Plaza]], [[Birmingham]] (?–present)
* Store #216, 1624 Gadsden Highway, [[Trussville]] (?–present)


=== Book$mart ===
* '''Book$mart'''
* [[Wildwood]], [[Homewood]] (October [[1999]]–[[2000]])
** [[Wildwood]], [[Homewood]] (October 1999–2000)


===Joe Muggs===
* '''Joe Muggs'''
* [[English Village]], [[Mountain Brook]]
** Joe Muggs store #197: 2037 [[Cahaba Road]], [[English Village]], [[Mountain Brook]] (1990s)
* [[Five Points South]], [[Birmingham]] (?–May 1, [[2005]])
** [[Five Points South]], [[Birmingham]] (–May 1, 2005)
* [[The Summit]], [[Birmingham]] (August 4, [[2001]]–present)
** Joe Muggs store #219: 238 [[Summit Boulevard]], [[The Summit]], [[Birmingham]] (August 4, 2001–2007)


==References==
==References==
* Milazzo, Don. (June 9, 2000). "Old Navy sailing to Wildwood North location." ''Birmingham Business Journal''.
* Mollenkamp, Carrick & Karen Lundegaard (December 9, 1998) "How Net Fever Sent Shares of a Firm on a 3-Day Joy Ride." ''The Wall Street Journal'', reprinted in Michael Lewis ed. (2009) ''Panic: The Story of Modern Financial Insanity.'', W. W. Norton. ISBN 9780393065145 pp. 169–175
* "Joe Muggs opens fourth, fifth newsstands."  (August 7, 2001). ''Birmingham Business Journal''.
* Milazzo, Don (June 9, 2000)  "Old Navy sailing to Wildwood North location." {{BBJ}}
* "Books-A-Million joins shops in Alabaster."  (January 5, 2005). ''The Birmingham News''.
* "Joe Muggs opens fourth, fifth newsstands"  (August 7, 2001)  {{BBJ}}
* "5 Points' Joe Muggs to close."  (March 29, 2005). ''The Birmingham News''.
* "Books-A-Million joins shops in Alabaster"  (January 5, 2005) {{BN}}
* "Bookstore leaving Eastwood."  (February 22, 2006).  ''The Birmingham News''.
* "5 Points' Joe Muggs to close"  (March 29, 2005) {{BN}}
* Wilkinson, Kaija (June 23, 2006) "Books-A-Million takes steps to grow top line." ''Birmingham Business Journal''.
* "Bookstore leaving Eastwood"  (February 22, 2006) {{BN}}
* "Bookland store at the Galleria closes."  (c. January 2007). ''The Hoover Gazette''.
* Wilkinson, Kaija (June 23, 2006) "Books-A-Million takes steps to grow top line." {{BBJ}}
* Goodman, Sherri C. (February 15, 2007). "Books-A-Million has room to grow."  ''The Birmingham News''.
* "Bookland store at the Galleria closes"  (c. January 2007)  ''The Hoover Gazette''.
* Goodman, Sherri C. (February 15, 2007)  "Books-A-Million has room to grow."  {{BN}}
* Goodman, Sherri C. (April 1, 2007)  "Birmingham business bound for success." {{BN}}
* Cooper, Lauren B.  (March 13, 2009)  "[http://www.bizjournals.com/birmingham/stories/2009/03/09/daily42.html Books-A-Million CEO Sandra Cochran resigns]."  {{BBJ}}
* Lewis, Jim (July 11, 2011) "[http://www.encyclopediaofalabama.org/article/h-1619 Books-A-Million]" ''Encyclopedia of Alabama'' - accessed December 7, 2021
* Poe, Ryan  (October 27, 2011) "[http://www.bizjournals.com/birmingham/blog/2011/10/books-a-million-expands-its-bam-brand.html Books-A-Million expands its BAM! brand]." {{BBJ}}
* Poe, Ryan  (March 13, 2012)  "Books-A-Million names new CEO". {{BBJ}}
* Frost, Jason (June 24, 2014) "Books-A-Million lands on list of America's Worst Companies to Work For." {{BBJ}}
* Beckerman, Josh (July 13, 2015) "Books-A-Million in $21 Million Buyout Deal With Chairman." ''The Wall Street Journal''
* West, Ty (December 10, 2015) "Books-A-Million completes $21M deal to go private." {{BBJ}}
* Poe, Kelly (November 4, 2016) "Books-A-Million to begin selling self-published books." {{BN}}
* "Books-A-Million names new president." (December 27, 2019) {{BBJ}}
* Thornton, William (May 28, 2020) "Books-A-Million closes Brookwood Village location." {{BN}}
* "[https://en.wikipedia.org/w/index.php?title=Books-A-Million Books-A-Million]" (November 12, 2021) Wikipedia - accessed December 7, 2021


==External links==
==External links==
Line 53: Line 92:
* [http://www.booksamillion.com/ BAMM.com] online shopping
* [http://www.booksamillion.com/ BAMM.com] online shopping


[[Category:Booksellers]]
[[Category:Bookstores]]
[[Category:Business chains]]
[[Category:1917 establishments]]
[[Category:Retail chains]]
[[Category:Big box stores]]
[[Category:Online retailers]]
[[Category:Online retailers]]
[[Category:Major corporations]]
[[Category:Major private companies]]
[[Category:Oxmoor Industrial Park]]
[[Category:Oxmoor Industrial Park]]

Latest revision as of 16:12, 14 March 2022

Books-A-Million logo.png

Books-A-Million is a major privately-owned book retailer headquartered at 402 Industrial Lane in Birmingham's Oxmoor Industrial Park. Terrance Finley is the company's chief executive officer.

The company was founded in Florence, Lauderdale County by 14-year-old Clyde Anderson in 1917. After Anderson's father died, he began delivering newspapers to support his family. He heard the complaints of construction workers from other states who were working on Wilson Dam that they missed their hometown newspapers and worked out an arrangement with publishers and railroads to bring them to Florence where he sold them from a shed pieced together from old piano crates. He added books and fireworks to his inventory and, within a few years, opened a downtown bookstore with his brother.

In the 1950s, under the guidance of Anderson's son Charles, the company expanded its book store business, opening Bookland stores across the South, primarily in enclosed shopping malls. The firm was incorporated under that name in 1964.

Bookland acquired Gateway Books of Knoxville, Tennessee in 1988, but ended up closing 33 underperforming locations. With the excess inventory, he opened his first "Books-A-Million" superstores, with room to display discounted overstock. The success of that model led Anderson to pursue the concept of positioning a bookstore as a destination retailer. In 1992, he changed the name of the company to Books-A-Million and took it public. Its initial offering on the NASDAQ exchanged valued the company at $33.8 million. The infusion of capital allowed the company to expand, and by 1993 it was operating 84 Bookland stores and 29 Books-A-Million "superstores". The company emphasized its regional presence by promoting Southern authors and subjects of particular interest, such as college sports.

Books-A-Million's shares peaked at $47 per share during a 1998 Thanksgiving weekend frenzy, fueled by internet chat rooms, which followed the announcement of a redesigned website. The high valuation triggered a sell-off, led by officers of the company and members of the Anderson family, dropping the price to $10 per share within two weeks. In 1999 Books-A-Million acquired the internet development and services company which had built its website, NetCentral of Nashville, Tennessee.

In 2011 Books-A-Million had over 200 stores in 23 states and the District of Columbia, and employed around 5,500 people. It became the second-largest book retailer in the United States after Borders Group announced that it was liquidating all of its assets and going out of business. Books-A-Million purchased 14 former Borders' locations in August 2011.

In 2014, Books-A-Million was singled out by 24/7 Wall Street as America's worst company to work for, citing low satisfaction among employees due to, "high stress and low pay...low chance of promotion, [and] hours are based on magazine and discount card sales." In late 2015 the Anderson family resumed controlling interest in Books-A-Million, returning it to private ownership.

Divisions

In addition to its Bookland and Books-A-Million stores, the company has also operated news stands under the Joe Muggs name. The Books & Company badge, formerly used on its Brookwood Village store to signal a more sophisticated and comprehensive flagship store, was later retired.

In 2010 the company launched a "2nd & Charles" division which buys and sells used books, toys, games and music alongside new merchandise. That division expanded to 44 stores in 18 states by 2022.

Books-A-Million also operates two book wholesale and distribution subsidiaries, American Wholesale Book Company and Book$mart, Inc., both located in Florence; an e-commerce division operating as booksamillion.com.

The company also has a commercial real estate development and management division, operating as Preferred Growth Properties. It also owns a 40% share of the Yogurt Mountain chain of frozen yogurt shops.

Officers

The company is headed by CEO Terrance Finley. 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, 2006. Todd Noden was named president of the company in December 2019.

CEOs

Locations

Current stores

Former stores

References

External links

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