Canada’s dominant bookseller Indigo reported a 4.9 percent decrease in sales of $335.6 million for the fiscal third quarter ending December 29. With echoes of Barnes & Noble’s holiday report, “the decrease was primarily driven by lower ereader revenues compared to last year,” along with a “lack of hit book titles in the quarter” and a reduction of their smaller-format stores by 8 locations. Superstore sales comps were down 5 percent, and small-format store comps fell 5.2 percent, though online sales increased 3.6 percent. EBITDA declined over 15 percent for the period, to $36 million. Their nonbook merchandise continues to expand: […]
