Books and Music Inc. says it lost $25.4 million in the 13-week period ended July 2 in spite of double-digit sales growth in both its print and general merchandise categories.
Canada’s largest book and lifestyle retailer says its net loss in its first quarter of its 2023 fiscal year works out to 91 cents per basic common share, compared to a net loss of $21.9 million or 79 cents per basic common share in the same period one year ago.Indigo attributed the loss to macro-economic conditions including supply chain disruptions, higher freight costs and inflationary pressures.
Maybe people are tired of overpriced bric a brac and lousy selection of books and magazines? BTW, removing the comfy chairs doesn’t help matters.
When I want something new to read, I often look to get free ebooks from kobo or GooglePlay first. It's only when I can't find something interesting that is free, I resort to getting a book from chaptersindigo .
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: AutoNewsCanada - 🏆 77. / 51 Read more »