In its second-largest acquisition, Amazon buys the company for $970 million.
Indigo Books & Music posted a 23% increase in e-commerce sales for the 2006 fiscal year while total sales grew by 9.2%.
Indigo Books & Music Inc. posted a 23% increase in e-commerce sales for the 2006 fiscal year while total sales grew by 9.2%.
For FY 2006, Indigo, No. 139 in the Internet Retailer Top 500 Guide to Retail Web Sites, recorded e-commerce sales of $71.7 million compared with e-commerce revenue of $58.4 million in FY 2005. At the same time total sales in FY 2006 grew to $767 million from $711 million in fiscal 2005. Overall the web represented 9% of total sales in fiscal 2006 and 8% the previous fiscal year. "It is very satisfying to report these results,” says CEO Heather Reisman. “The company’s online channel experienced its strongest year to date.”
Indigo, Canada’s largest books retailer, has been upgrading its e-commerce program in the last year with new initiatives, including placing more commerce-enabled kiosks in its stores. “As early participants in the online e-retailing world, we are now well-positioned to expand our online offerings,” Reisman says in the company’s recently released annual report.