Indigo Books & Music posted its second consecutive quarter of solid comparable store gains in the period ended September 27, 2014. In the quarter, comp sales at superstores rose 9.6% over the second period in 2013 and increased 2.4% at its small format outlets. In the first quarter, comps were up 8.3%. The higher comps translated into a 5.4% increase to C$189 million. The Canadian chain cut its net loss to C$8.5 million from C$10.1 million a year ago.
The higher sales were driven by double-digit growth in its Lifestyle, Paper, Toys, and Electronics segment as well as increases in the retailer’s core book business. Revenue from two American Girl boutiques was above expectations.
The higher sales show that customers are responding to the changes the company has made by adding more non-book inventory, CEO Heather Resiman said. “While we have a long way to go, we feel energized and are looking to a joyful holiday season” Reisman said in a statement.
For the first six months of the year, sales were up 5.4%, to C$369.8 million, and the loss was trimmed to C$22.5 million from C$25.1 million.
