Indigo Books and Music Inc. said Tuesday it lost $8.2-million in its latest quarter as revenue slipped compared with a year ago.
The book seller said the profit amounted to 33 cents per diluted share for the quarter ended March 30 compared with a profit of $125-million or $5.16 per diluted share a year ago when the company sold its stake in Kobo Inc. to Rakuten.
Indigo reported a loss from continuing operations of $8.2-million or 33 cents per share for the quarter compared with a loss from continuing operations of $10.7-million or 43 cents per share a year ago.
Sales in what was the company’s fourth quarter fell to $184.8-million from $195.9-million.
For its full year, Indigo said it earned a profit from continuing operations of $4.3-million or 17 cents per diluted share compared with a loss from continuing operations of $27.8-million or $1.20 per diluted share a year ago.
Sales for the full year totalled $892.5-million, down from $934-million, due to lower book sales.
On a comparable store basis, Indigo and Chapters superstore sales fell 4.6 per cent, while Coles and IndigoSpirit sales fell 2.4 per cent. Online sales grew 1 per cent.
Indigo operates under several banners including Indigo Books, Chapters, the World’s Biggest Bookstore and Coles.Report Typo/Error