Indigo Books and Music has reported that sales have increased by 5.4% for its second quarter ended October 1, 2016. The bookseller proclaimed that revenue growth was driven by their general merchandise business, and growth in the core book business enhanced by the release of Harry Potter and the Cursed Child. Revenue for the quarter was $216.9 million, up $11.2 million from last year, despite operating three fewer stores.
Commenting on the results, CEO Heather Reisman said, “We are pleased to continue our strong track record of revenue growth, with three years of quarterly revenue increases. The momentum and energy in the business is palpable and we feel confident as we approach our critical Holiday season.
Indigo has also announced that they are going to sell American Girl dolls and all of their accessories online.
Michael Kozlowski is the Editor in Chief of Good e-Reader. He has been writing about electronic readers and technology for the last four years. His articles have been picked up by major and local news sources and websites such as the Huffington Post, CNET and more. Michael frequently travels to international events such as IFA, Computex, CES, Book Expo and a myriad of others. If you have any questions about any of his articles, please send Michael Kozlowski an email to michael@goodereader.com
News Items of Interest
McDonald’s Canada is giving away free Books with Happy Meals
Amazon is going to open a bookstore in Washington DC
Charity Bookstore Says “No More Copies of the Da Vinci Code”
B&N Announces Summer Reading Campaign for Everyone
HarperCollins Reports 7% Increase in audiobook and e-book sales Q1 2017
Simon and Schuster Audiobook Sales Increase by 35% in Q1 2017