![]() “I want the stock back up at 20 and beyond, that’s my ambition: make this thrive and then take it outside the country,” Reisman said in an interview at Bloomberg’s Toronto office. Indigo is set to unveil a new store model next year that will showcase the concept, and Reisman aims to take it beyond Canada. Article contentĬhief Executive Officer Heather Reisman, 66, has spent the last several years developing the company’s “cultural department store” model, expanding into home decorating, dining ware and personal technology. 10, 2023.This advertisement has not loaded yet, but your article continues below. This report by The Canadian Press was first published Feb. “Indigo's main priorities are to protect customer data, limit the operational and financial impacts of this incident and safely resume full operations as quickly as possible,” Loudon said. The company is working alongside third-party experts to resolve the situation, he said. While the retailer can process in-store orders paid in cash, it cannot process electronic payments, accept gift cards or handle returns.Ĭraig Loudon, Indigo's chief financial officer, said the cybersecurity incident has resulted in disruptions to both internal operations and the company's e-commerce and retail channels and that it is unclear whether customer data has been accessed. Meanwhile, Indigo's website has been down since Wednesday afternoon. “The ongoing success of this business underlines the value of the company's carefully selected assortment and the strategic expansion of core product offerings to meet the evolving needs of our consumers.” The company's general merchandise business “delivered another strong quarter led by double-digit growth in the baby, toys and wellness categories,” he said. Indigo's print business showed resilience in the latest quarter, growing in both sales and market share compared with pre-pandemic levels but down slightly compared with the same quarter last year, Ruis said. The bookstore has increasingly added gifts, baby items and other wellness and lifestyle products to its product assortment. Indigo reported a profit of $34.3 million for the quarter, down from $45.1 million a year earlier, while revenue was $422.7 million, down from $430.7 million in the same period a year ago. “Our teams have been working hard to manage various pressures including supply chain disruptions, significant increases in fuel prices and higher costs of inventory.” “The retail industry on a whole is operating in a challenging macroeconomic environment,” he said. Indigo posted record-breaking sales online on Black Friday and in-store during Boxing Week, he said.īut strong holiday sales were tempered by a pullback in customer spending during much of the rest of the quarter ended Dec. “Customers were increasingly focused on price and the tightening of discretionary spending was yielding a more value-oriented shopper.” “We felt the adverse impact of inflationary pressures on consumer behaviour,” Indigo CEO Peter Ruis said during a call with analysts. offered fresh details about an ongoing cyberattack on Friday as the company discussed its rocky third-quarter results, which saw the company's profit and sales slip amid softening consumer demand. Canadian bookstore chain Indigo Books & Music Inc. ![]()
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