Web sales fall for Indigo Books in Q1 of fiscal 2010

The first quarter for was another tough one for Canadian retailer Indigo Books & Music Inc. and its e-commerce channel.

• In U.S. dollars, web sales for the first quarter of fiscal 2010 ended June 27 declined by 3.2% to $17.9 million from $18.5 million in the prior year. In Canadian dollars e-commerce revenue declined 4.5% from $20 million in the first quarter of fiscal 2009 to $19.1 million in the first quarter of fiscal 2010. The difference in percentages between U.S. and Canadian dollars reflects fluctuations in year over year exchange rates and currency conversion.
• Total sales in U.S. dollars in the first fiscal quarter increased year over year 1.7% to $181.6 million from $178.8 million in the previous year and in Canadian dollars 1.6% from $190.6 million in Q1 FY 2009 to $193.6 million in Q1 FY 2010.
• Net loss for the first fiscal quarter in U.S. dollars was $2.2 million, compared with a net loss of $1.1 million in the prior year. In Canadian dollars, Indigo, No. 148 in the Internet Retailer Top 500 Guide, posted a net loss of $2.3 million versus a net loss of $1.2 million in the prior year
• In U.S. and Canadian currency the web accounted for about 10% of sales in the first quarter of the 2010 fiscal year.
• Same-store sales for the chain’s superstores grew 1.4% and 0.8% for smaller format stores.