Indigo Books & Music reported that revenue for the second quarter ended October 1, rose 5.4% over the comparable period last year, up from C$205.7 million to C$216.9 million. Net loss for the quarter was C$1.2 million, down from C$1.8 million a year ago.
Total comparable sales, which includes both online sales and physical store sales, rose 5.1% in the second quarter. The revenue increase was driven, the Canadian retail chain said, by continued double digit growth in the general merchandise business, and growth in the core book business which benefited from the release of Harry Potter and the Cursed Child.
For the first half of fiscal 2017, Indigo revenue was up 5.1%, to C$410.4 million, and the net loss was trimmed to $10.2 million from C$10.8 million.
Indigo CEO Heather Reisman said that following another quarter of revenue gains “the momentum and energy in the business is palpable and we feel confident as we approach our critical holiday season.”
