Indigo narrows its Q1 loss
Web sales for Indigo Books and Music rose by 19.4% in the first quarter of fiscal 2008 to $18.5 million from $15.5 million a year earlier. The sales figures are in U.S. dollars.
Canada’s largest books retailer also reported a net loss of $2.6 million on sales of $175.8 million in U.S. dollars vs. a net loss of $5.5 million on revenue of $162 million in the prior year. “These are very satisfying results reflecting our continuing strong focus on customer programs, effective merchandising and strong inventory management,” says CEO Heather Reisman.
Indigo, No. 140 in the Internet Retailer Top 500 Guide, is also rolling out an interactive photo sharing and custom scrap book service on its e-commerce site. The new service allows customers to store digital photos and create hard cover photo albums. "With the explosive growth of online photo sharing and the dominance of digital photography over traditional film, we`re offering an easy-to-use scrap booking service," says senior vice president, online Carolyn Beatty.
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