Canada’s dominant bookseller Indigo reported a 5.9 percent decrease in sales of $185.6 million for the fiscal second quarter. Though the company sold their stake in Kobo, they still blame “a delay in the planned launch of the new Kobo devices” as the primary cause of the revenue drop. They claim “book sales for the quarter were down only modestly” yet the superstores sales comps were down 6.5 percent, and small-format store comps fell 2.2 percent. Their operating loss of $5.9 million was much better than a year ago–but that’s because they had a major writedown against Kobo’s goodwill last […]
