Hurt by comparisons to "the biggest book release of 2005, Harry Potter and the Half-Blood Prince,"
Indigo Books & Music sales dropped 2.4% to C$182.2 million (about
US$160.75 million) in the second quarter ended September 30. Sales in
the Canadian retailer's superstores dropped 1.2%; sales in small-format
stores were down 3%. Online revenues dropped 9.8% to C$17.5 million
($15.4 million).
The company had a net loss of C$1 million ($882,000) compared to net earnings of C$1.1 million ($970,000) in the same period a year earlier.
In a statement, CEO Heather Reisman commented: "The challenge of the Harry Potter anniversary in this quarter was compounded by a weaker line-up of new releases this summer."
A month ago, Indigo opened a Toys Store online that features more than 2,000 items for children up to 12 years old from suppliers including Lego, Playmobil and Cranium. The company is also selling the products in stores via online kiosks. Some "key" superstores are selling a few of the actual items. Indigo said early sales results "show the new Toys Store has been enthusiastically adopted by consumers."
The company had a net loss of C$1 million ($882,000) compared to net earnings of C$1.1 million ($970,000) in the same period a year earlier.
In a statement, CEO Heather Reisman commented: "The challenge of the Harry Potter anniversary in this quarter was compounded by a weaker line-up of new releases this summer."
A month ago, Indigo opened a Toys Store online that features more than 2,000 items for children up to 12 years old from suppliers including Lego, Playmobil and Cranium. The company is also selling the products in stores via online kiosks. Some "key" superstores are selling a few of the actual items. Indigo said early sales results "show the new Toys Store has been enthusiastically adopted by consumers."