Indigo opened its first American location in New Jersey’s Short Hills mall in 2018.Craig Wong/The Canadian Press
Indigo Books & Music Inc.’s chief executive says the company is changing up its strategy after a challenging year for the bookseller, but still maintains its ambition to grow into a global brand.
Heather Reisman says a number of negative factors compounded to create disappointing financial results in its most recent year, including a prolonged Canada Post strike, as well as store renovations and relocations.
The bookseller opened its first U.S. location in New Jersey’s Short Hills mall, which Ms. Reisman says has a long history as a top mall in North America.
Ms. Reisman says that Indigo has seen declining foot traffic there and is re-evaluating its real estate strategy in an effort to better meet consumers where they want to spend time.
She says the company will use this year to advance a number of things it’s working on and will probably be on track to open a couple stores next year as it remains focused on making Indigo a global brand.
She made the comments at the company’s annual general meeting of shareholders in Toronto.
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