Is it stupid, or just good business?

I was given a Books-A-Million gift card for Christmas, which was really nice. Only, it turns out you can only use the gift cards bought from the stores in the stores. You can't use them on-line. Which sucks for me, as every book I want is only on-line and not at my local Books-A-Million.

It seems stupid to me, as every other bookstore allows you to spend gift cards bought in stores on-line. But, maybe it's actually smart business. Anyone have any thoughts?