Indigo Books & Music reports $20.5M second-quarter loss and revenue drop

Advertisement

Advertise with us

TORONTO - Indigo Books & Music Inc. reported a net loss of $20.5 million for its most recent quarter as revenue declined from the comparable period last year.

Read this article for free:


or

Already have an account? Log in here »

To continue reading, please subscribe:

Subscribe and receive a limited-edition Free Press branded hat or tote.

Digital Subscription

One year of digital access for only $205*

  • Enjoy unlimited reading on winnipegfreepress.com
  • Read the E-Edition, our digital replica newspaper
  • Access News Break, our award-winning app
  • Play interactive puzzles

*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.

To continue reading, please subscribe:

Add Free Press access to your Brandon Sun subscription for only an additional

$1 for the first 4 weeks*

  • Enjoy unlimited reading on winnipegfreepress.com
  • Read the E-Edition, our digital replica newspaper
  • Access News Break, our award-winning app
  • Play interactive puzzles
Start now

*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.

Hey there, time traveller!
This article was published 06/11/2019 (2508 days ago), so information in it may no longer be current.

TORONTO – Indigo Books & Music Inc. reported a net loss of $20.5 million for its most recent quarter as revenue declined from the comparable period last year.

The book retailer says its loss of 74 cents per common share compared to a net loss of $19.1 million or 70 cents per share in the same period the previous year.

Its revenue for the quarter ended Sept. 28 totalled $203.4 million — down from $216.3 million in the second quarter of the previous year.

A sign showing where Indigo plans to open a new store this fall is seen at the Mall at Short Hills in Short Hills, N.J., on July 22, 2018. Indigo Books & Music Inc. reported a net loss of $20.5 million for its most recent quarter. THE CANADIAN PRESS/Craig Wong
A sign showing where Indigo plans to open a new store this fall is seen at the Mall at Short Hills in Short Hills, N.J., on July 22, 2018. Indigo Books & Music Inc. reported a net loss of $20.5 million for its most recent quarter. THE CANADIAN PRESS/Craig Wong

Indigo says its revenue fell amid strong competitive pressures and its decision to reduce promotions to boost profits.

Comparable same-store sales, a key retail metric, fell eight per cent for the second quarter.

Indigo, which launched an initiative to cut $20 million to $25 million in costs at the start of this year, says it reduced expenses by $9 million in the first half of its 2020 financial year.

It says that has been partially offset by other costs, including opening new stores and one-time expenses with moving its New York office to Toronto.

This report by The Canadian Press was first published Nov. 6, 2019.

Companies in this story: (TSX:IDG)

Report Error Submit a Tip

More Stories

We used to love a good thunderstorm

Jessica Scott-Reid 5 minute read Preview

We used to love a good thunderstorm

Jessica Scott-Reid 5 minute read 2:00 AM CDT

Growing up on the prairies, even as a city girl, summertime thunderstorms were always cause for excitement. That first rumble signalled it was time to go search for the sleeping bags.

We’d cuddle under them on the front step, under the awning, as we watched the rain pour. And we’d stay out there until we were soaked.

If the lightning wasn’t bad enough for our parents to call us in, we neighbourhood kids would then throw on our bathing suits and go play in the warm puddles. It was some of the best stuff of summer.

As a mom now, with a little girl of my own, I was excited to watch her growing up loving Winnipeg thunderstorms, too.

Read
2:00 AM CDT

‘A new future’: city dentist Cholakis donates $2M to school of dental hygiene

Melissa Martin 3 minute read Preview

‘A new future’: city dentist Cholakis donates $2M to school of dental hygiene

Melissa Martin 3 minute read Updated: Yesterday at 3:25 PM CDT

Dental hygienist training in Manitoba is getting a big boost, after a major gift from a local dentist.

On Thursday, the dental hygiene school at the University of Manitoba’s Dr. Gerald Niznick College of Dentistry unveiled a new $2-million donation from Dr. Ernest Cholakis. It’s the largest gift the program has ever received, and in honour of the funding, the school will be named the Cholakis School of Dental Hygiene.

The gift was unveiled at a ceremony Thursday morning at the U of M’s Brodie Centre in the Health Sciences Centre complex. The benefactor and other dignitaries, including Premier Wab Kinew, were in attendance, as well as the three-year program’s current students.

Cholakis, who graduated from the U of M’s dentistry school in 1982, had high praise for the dental hygiene profession.

Read
Updated: Yesterday at 3:25 PM CDT

‘She was looking to destroy me’: convicted harasser faces new charges

Dean Pritchard 6 minute read Preview

‘She was looking to destroy me’: convicted harasser faces new charges

Dean Pritchard 6 minute read Yesterday at 6:54 PM CDT

When Agnieszka Ciochon-Newton moved into the 55-plus apartment building on Stradbrook Avenue last year, she came across as “timid, soft-spoken and sensitive,” said building manager Tanya Owen.

Little did Owen know the meek-looking 58-year-old woman would soon turn her life and the lives of many of her tenants upside down and threaten her career and family.

“She was looking to destroy me for a simple tenant disagreement,” Owen said Thursday.

Court records show Ciochon-Newton was arrested earlier this month and charged with seven counts of criminal harassment, two counts of uttering threats and one count each of fraud, breaking and entering, attempting to obstruct justice, intimidation of a justice official, mischief and defamatory libel.

Read
Yesterday at 6:54 PM CDT

Fiddling and a jig mark ceremony to rename Wolseley-area school

Maggie Macintosh 4 minute read Preview

Fiddling and a jig mark ceremony to rename Wolseley-area school

Maggie Macintosh 4 minute read 2:00 AM CDT

Beckoned by a fiddle, students broke out into a jig behind Little Bluestem School on Thursday evening to mark the end of a multi-year renaming process.

“I couldn’t help myself. I just had to dance,” eight-year-old Stevie Morrison said at a ribbon-cutting event to celebrate the new signage at 511 Clifton St., formerly known as Wolseley School.

Stevie and Fallon Lovelace Sharkey, 7, were out of breath after bouncing up and down to the beat, attempting to execute the Red River Métis dance moves they were taught at school.

There were cheers and tears as adults watched jigging on school grounds once named after a man who did not believe in Métis peoples’ right to self-determination.

Read
2:00 AM CDT

Jets GM insists club’s not working under any deadline in netminder’s trade request

Mike McIntyre 7 minute read Preview

Jets GM insists club’s not working under any deadline in netminder’s trade request

Mike McIntyre 7 minute read Updated: Yesterday at 5:27 PM CDT

Connor Hellebuyck and his family were subject to so much post-Olympic vitriol that both the Winnipeg Jets security team and even police had to get involved.

Read
Updated: Yesterday at 5:27 PM CDT

Online fundraiser for ‘polite, modest farmer’ facing firearms charges sending message, neighbour says

Nicole Buffie 4 minute read Preview

Online fundraiser for ‘polite, modest farmer’ facing firearms charges sending message, neighbour says

Nicole Buffie 4 minute read Wednesday, Sep. 16, 2026

Thousands of dollars have been raised to help cover the legal fees of a Manitoba man charged after he allegedly fired a gun at thieves during a theft on his farm in August.

Read
Wednesday, Sep. 16, 2026