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February 8, 2011By Sarah Weinman

Sales Grow But Indigo Profits Still Drop in Third Quarter

February 8, 2011By Sarah Weinman

Third-quarter performance at Canada’s retailing giant Indigo looks reminiscent of Barnes & Noble’s trajectory, with ebooks, ereaders and online sales helping to lift sales while also weighing on expenses. Indigo’s revenues rose 14 percent to $387.6 million (CA), beating  projections, but net profit of $30.2 million (or C$1.19 a share) was $4 million lower than a year ago, which was less than analysts expected. Superstore comps increased 2.6 per cent while smaller-store comps dropped 0.8 percent from last year’s levels, and the company’s online division was up 6.5 percent from a year ago. As with the previous quarter, digital investments […]

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Filed Under: Booksellers, Bookstores, Earnings Reports, eNews, Finance

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