Canada’s Indigo reported fiscal first quarter sales Tuesday afternoon with sales falling $12.8 million (or 6.2 percent) to $192.6 million (CA). Superstore comp sales decreased 6.5 percent, small format stores fell 2.4 percent, and online sales were $5 million lower (or down 14.8 percent), at $28.8 million. But the company says the reductions were planned as part of a move to bolster earnings: “The decline in sales was a result of a strategic shift to reduce promotional activity to improve profitability, and eliminate unprofitable sales. Additionally, the general merchandise business continued to be affected by softer discretionary spending in product […]
