Bookstores Buoyed by Harry Potter But Future Looks Grim
Borders, Barnes and Noble, and Books a Million (BAMM) all experienced profitable quarters due to the scads of people buying Harry Potter books.
Sales in the quarter ending in August 2007 rose 10.4%.
Excluding the sales of Harry Potter, the same store sales for Borders showed only a 0.4% increase compared to the previous year sales. With the Harry Potter sales, Borders sales were up 9.7%.
Barnes and Noble
Earnings for Barnes and Noble rose 9% on the spine of Harry Potter and the Deathly Hallows. Excluding the sales of Harry Potter, Barnes and Noble had a same store sales increase of 1 percent.
Barnes and Noble expects to have a loss of 6 cents to 10 cents per share in the upcoming quarter given that same store sales growth is flat (or nearly so).
Books a Million experienced a 9.6% rise in net sales with a 6.6% gain in same store sales. I could not find an article that parsed out what the gain would have been without Harry Potter but given the Borders and Barnes and Noble results, I would suspect that most of the growth was due to Harry Potter.
*the same store sales is an important measurement because it measures growth within existing stores instead of counting for new store growth