Indigo Finishes Fiscal 2009 with Sales Gain

-- Publishers Weekly, 5/26/2009 7:46:00 AM

Indigo Books & Music closed out its fiscal 2009 ended March 28 with sales of C$940.4 million ($1.3 billion at current exchange rates), an increase of 1.9% over fiscal 2008. Net income fell to C$30.7 million from C$52.8 million; in 2009 Indigo paid taxes of C$15.1 million compared to a tax recovery of C$8.8 million in the previous year. During the year, Indigo launched its Shortcovers digital program and opened Pistachio, an eco-lifestyle store.

The Canadian bookstore chain ended fiscal 2009 on a strong note, with sales up 4%, to C$214.5 million. Comps sales at superstore rose 3.8% and increased 6.2% at small format stores. Sales through chapters.indigo.ca fell 6.5%, to C$23.1 million.

The retailer also announced that it will issue its first dividend to shareholders in June.