Indigo Books & Music reported a huge increase in net earnings for the third quarter ended December 27, 2014 with profits hitting C$33 million compared to C$8.5 million in the same period in 2013. Revenue rose 2.1%, to C$339.4 million.
In a statement, Heather Reisman Indigo CEO, attributed the jump in earnings to “higher revenues, improved margins, lower operating costs and a lower tax expense.” The sales increase, Indigo said, was led by double-digit growth in the chain’s Lifestyle, Paper and Toys segment, while sales of core trade books were also up over 2013.
Comparable store sales rose 5.5% at Indigo’s superstores, while comps were flat at its smaller format stores. Online sales rose 10.6%.
For the first nine months of fiscal 2015, Indigo revenue increased 3.8%, to C$709 million, and the company posted net income of C$10.4 million compared to a loss of C$16.6 million in the first nine months of fiscal 2014.
