Profits are down at Indigo Books
Indigo Books and Music, the majority shareholder in Kobo, has posted its financial reports for the latest quarter.
Indigo reported a loss, as compared to a profit from a year ago. The retailer said Tuesday it lost $11.7 million during the quarter that ended April 2. During the same quarter last year, Indigo earned a profit of $497 thousand.
“We are pleased with our revenue growth, particularly given the significant transition going on in our industry,” chief executive Heather Reisman said in a statement after stock markets closed Tuesday.
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