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November 10, 2010By Michael Cader

Kobo Helps Indigo Grow Sales But Lose Money; Will Seek More Digital Investment

November 10, 2010By Michael Cader

At Canada’s retailing giant Indigo, sales rose 3.7 percent to $214.8 million (CA) in their second quarter, even as superstore comps fell 0.7 percent and smaller-store comps dropped 4.8 percent. The company swung to a net loss of $1.7 million, compared to a profit of $2.2 million a year ago, disappointing analysts, who were looking for the company to break even on somewhat higher sales. As with Barnes & Noble, the digital transition is adding costs, even as the company likes their prospects. CEO Heather Reisman says in the release, “we are pleased with our top line revenue growth, particularly […]

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Filed Under: Booksellers, Earnings Reports, eNews, Financing/Start-Ups

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