On Feb. 2, Indigo Books & Music reported its ninth consecutive quarter of growth. The book and gift retailer saw revenue increase by 12.9 per cent during its Q3, ended Dec. 26, 2015.
Revenue across all Indigo stores – which include Chapters, Coles, and Indigospirit locations – totaled $383.2 million, up $43.8 million from the same quarter last year. Indigo’s third quarter saw a 15.5 per cent growth in sales at its Indigo and Chapters superstores, and a 13.4 per cent increase in its Coles and Indigospirit locations. The company’s online sales also increased by 17.9 per cent. Indigo credits the rise mainly to its general merchandise, which saw double-digit growth, as well as single-digit growth in its book business.
Net earnings for the quarter were $52.8 million, up from $33 million over the same period a year ago.
In a release, Indigo CEO Heather Reisman said she was “delighted to be reporting such a meaningful improvement in our financial results for Q3. As with every retailer, our third quarter is critical to the business and Indigo performed strongly across all categories.”