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Book retailer Books-A-Million said fiscal fourth-quarter profit fell 22 percent amid a difficult retail environment, reports the Associated Press.
Net income for the quarter ended 2nd February fell to $11.9 million from $15.1 million in last year's quarter, which contained an extra week due to a calendar shift.
Revenue fell 4% to $168.3 million from $174.6 million last year.
The reports cites a difficult retail environment, with consumers cutting back on discretionary spending as they face high food and petrol prices and weak credit and housing markets. In addition, bricks-and-mortar booksellers are facing increased competition from online and discount book sellers.
For the year, net income fell 13% to $16.5m from $18.9m last year. Annual revenue rose 3% to $535.1m from $520.4m last year.