From Yahoo Finance:
Indigo Books & Music Inc. (CNW Group/Indigo Books & Music Inc.)
Revenue for the first quarter ended June 29, 2019 was $192 .6 million compared to $205.4 million for the same period last year, a decrease of $12.8 million . This decline in sales was the result of a strategic shift to reduce promotional activity to improve profitability and eliminate unprofitable sales.
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Additionally, the general merchandise business continues to be affected by softer discretionary spending in certain categories core to the Company, while the book business has sustained historical trends.
Commenting on the results, CEO Heather Reisman said: “This quarter’s results were in line with our expectations. While we continue to face many of the same headwinds from last year, strategic steps to recharge growth, increase productivity and improve profitability are well underway. We remain confident in our investments over the long term and in the steps we are taking.”
Indigo reported a net loss of $19.1 million ( $0.69 net loss per common share) compared to a net loss of $15.4 million ( $0.57 net loss per common share) last year. This decline in profitability was attributed to the decline in sales and restructuring costs, partially offset by lower selling, administrative and other expenses as the Company continues its cost-cutting initiatives.
Link to the rest at Yahoo Finance