2/03/10

Quarterly web sales drop once more for Indigo Books & Music

It was another disappointing e-commerce quarter for Canada’s biggest multichannel books retailer. For Q3 of fiscal 2010, Indigo’s web sales in U.S. dollars declined 2.8%, and were down 3.8% year-to-date.

Bill Briggs , Senior Editor

Quarterly web sales fell once again for Indigo Books & Music Inc., Canada’s biggest multichannel books retailer.

For the third quarter of fiscal 2010 ended Dec. 26 Indigo, No. 148 in the Internet Retailer Top 500 Guide (a PDF version of the company’s financial and operating profile can be ordered by clicking on its name), reported:

“We are satisfied with our results through what has proven to be a very turbulent time for most retailers,” says CEO Heather Reisman.

For the first three quarters of fiscal 2010:

In the third quarter of fiscal 2010, Indigo also spun off its e-book service unit, Shortcovers, as a separate company and rebranded it as Kobo Inc. The new company raised $16 million in funding from an international group of investors spanning mobile technology and retail companies including Borders Group Inc., which says Kobo will power a new e-book store to debut on Borders.com in the second quarter.

Topics:

business finance, Indigo Books and Music

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