Web sales drop for Indigo Books in the second quarter

E-commerce sales dipped for Indigo Books & Music Inc. in the second quarter of fiscal 2010.

For the quarter ended Sept. 26:

• Web sales in U.S. dollars declined 5.4% to $17.6 million from $18.6 million in the prior year. In Canadian dollars, e-commerce revenue declined 5% from $20 million in the second quarter of fiscal 2009 to $19 million in the second 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 increased year over year 0.8% to $193.6 million from $192.1 million in the previous year and in Canadian dollars 0.8% to $208.7 million from $207.0 million.
• Net earnings for the second fiscal quarter in U.S. dollars were $2.0 million, compared with $2.9 million in the prior year. In Canadian dollars, Indigo, No. 148 in the Internet Retailer Top 500 Guide, posted net earnings of $2.2 million compared with net earnings of $3.2 million in the prior year.
• In U.S. currency the web accounted for about 9.1% of sales in the second quarter of the 2010 fiscal year. The web was 9.6% of total sales in Canadian dollars.
• Same-store sales for the chain’s superstores decreased 0.9% and 2.1% for smaller format stores.

For the first two quarters of fiscal 2010:

• In U.S. dollars, web sales declined 2.2% to $36.3 million from $37.1 million in the prior year. In Canadian dollars e-commerce revenue declined 2.3% to $39.1 from $40 million in the prior year. 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 increased year over year 1.2% to $373.3 million from $368.9 million in the previous year and in Canadian dollars 1.2% to $402.3 million from $397.6 million in the previous year.
• The retailer didn’t break out year-to-date net income or net loss figures.