During this time, insiders sold hundreds of thousands of shares. Those days included suspenseful times for day traders, such as when the stock moved up 6 points in 13 minutes. By 2000, the share price had returned to $3. Two weeks later, the share price was back down to $10. 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,. and became a public company via an initial public offering of 2.6 million shares at a price of $13 per share. In 1992, the company changed its name to Books-A-Million, Inc. The same year, the company opened its first superstore format store. In 1988, Bookland acquired the Gateway Books retail chain based in Knoxville, Tennessee. The company incorporated as Bookland in 1964. Anderson, the founder's son, inherited the store and expanded it into a chain. Anderson saw a business opportunity after workers on the nearby Wilson Dam complained that they could not get their hometown newspapers. Anderson, who dropped out of school to support his family after his father died. History īooks-A-Million was founded in 1917 in Florence, Alabama, as a newsstand by 14-year old Clyde W. Anderson, and his family, for $21 million. In December 2015, the company was acquired by its chairman, Clyde B.
It owns and operates American Wholesale Book Company (AWBC), an e-commerce division operating as and an internet development and services company, NetCentral, in Nashville, Tennessee.
The company owns Yogurt Mountain Holding, a frozen yogurt retailer and franchisor with 40 locations, as well as Preferred Growth Properties, which develops and manages commercial real estate investments. Stores operate under the names Books-A-Million, Bookland, Books & Company, and 2nd & Charles. Most Books-A-Million stores feature "Joe Muggs" cafés, a coffee and espresso bar. Stores range in size from 4,000 to 30,000 square feet and sell books, magazines, manga, collectibles, toys, technology, and gifts.
A Books-A-Million store in Cuyahoga Falls, Ohioīooks-A-Million, Inc., also known as BAM!, is a bookstore chain in the United States, operating 260 stores in 32 states.
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