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Bookstores (Chapters/Indigo/R-B)

AlbertC said:
Heather Reisman on her return as CEO of Indigo:

www.bnnbloomberg.ca

BNN Bloomberg – Canada Business News, TSX Today and Interest Rates

Get the latest Canadian business news, TSX updates, interest rates and Bank of Canada coverage. Explore stock market investing and get expert financial insights on investment portfolio strategies.
www.bnnbloomberg.ca www.bnnbloomberg.ca
Click to expand...

Heather is full of something..............

1697250686112.png


Uhhh, some of those were on the website when you were still CEO..................and on the Board, Ms. Reisman.

But really........the woman who chose to give 1/2 of the cook book section to ceramic pots, and stock more candles and reading socks than science books............or history ...........
 
It's Indigo, but also restaurant news - so I'll put it here and see what everyone thinks:

Columbus Cafe is opening in 11 Indigo locations in Ontario & Quebec, with future expansion opportunities between the two brands on the table across the country.

retail-insider.com

Columbus Café Partners with Indigo to Open In-Store Locations Across Ontario and Quebec [Interview]

The head of the Canadian expansion says that there's no 'final number' of locations that will open within Indigo/Chapters, following the exit of Starbucks from many locations.
retail-insider.com retail-insider.com
 
Indigo's once and current CEO, Heather Reisman held a Q&A for the publishing industry on Monday, about the retailer's future; this Globe and Mail article has details:

www.theglobeandmail.com

Heather Reisman is back to run Indigo for a ‘very, very long time’

During a recent public appearance, the Indigo CEO declared her intention to stick around and lead ‘major transformation process’ at the bookseller
www.theglobeandmail.com www.theglobeandmail.com

From the above:

1698223644700.png

***

1698223688210.png


Comment: Indigo has not sold 65% or greater books since 2015, long before Mr. Ruis was CEO.

In 2020, Indigo was roughly ~ 52% books/print

Also, I think the goal here remains too low; I think 'reading accessories' should be hard capped at 20% of sales.

***

The article notes Ms. Reismans' critique of Indigo going off-brand under her successor and her specifically identifying sex toys as an issue; it then correctly notes these were actually
introduced while Heather was CEO.

***

I have to say, I really don't get this. Indigo became everything Heather wanted it to; and it failed. I'm not sure why she feels that having apparently now had an epiphany she's suddenly the right person to lead the business.

Weird!
 
Northern Light said:
Indigo's once and current CEO, Heather Reisman held a Q&A for the publishing industry on Monday, about the retailer's future; this Globe and Mail article has details:

www.theglobeandmail.com

Heather Reisman is back to run Indigo for a ‘very, very long time’

During a recent public appearance, the Indigo CEO declared her intention to stick around and lead ‘major transformation process’ at the bookseller
www.theglobeandmail.com www.theglobeandmail.com

From the above:

View attachment 515433
***

View attachment 515434

Comment: Indigo has not sold 65% or greater books since 2015, long before Mr. Ruis was CEO.

In 2020, Indigo was roughly ~ 52% books/print

Also, I think the goal here remains too low; I think 'reading accessories' should be hard capped at 20% of sales.

***

The article notes Ms. Reismans' critique of Indigo going off-brand under her successor and her specifically identifying sex toys as an issue; it then correctly notes these were actually
introduced while Heather was CEO.

***

I have to say, I really don't get this. Indigo became everything Heather wanted it to; and it failed. I'm not sure why she feels that having apparently now had an epiphany she's suddenly the right person to lead the business.

Weird!
Click to expand...
She specifically claims to remain "cogent" in the article - perhaps that is debatable.
 
Just a question to ponder - with all the posts that originally mentioned that the Indigo at the Well would be the first to serve beer & wine.....there is nothing in the location on opening day that says that they'll have anything outside of coffee and pastries. They also don't have American Girl, which has been quietly phased out, including the CF Toronto Eaton Centre space (which involved closing the upstairs mall entrance).
IMG_2411.JPG
 
globalnews.ca

Indigo warns of waning consumer demand heading into critical holiday season | Globalnews.ca

Indigo's returning CEO says she's putting 'books at the forefront' of the retailer's revitalized sales strategy as it heads into a tough holiday quarter.
globalnews.ca globalnews.ca

On Wednesday, Reisman pointed to the recent launch of the company’s new concept store at The Well in Toronto as a blueprint for the company’s “brand mission” going forward.

“The store puts books at the forefront while offering a curated and complementary assortment of general merchandise for book lovers,” she said.

Reisman originally retired from Indigo in August but returned to the helm just a few weeks later after the departures of CEO Peter Ruis and president Andrea Limbardi, as well as a number of directors from the board.

Reisman’s return comes as the company has struggled in sales — particularly online — as it attempts to recover from a ransomware attack in February that downed its e-commerce channels for weeks.

Revenue for Indigo totalled $206.9 million in the company’s second quarter, down from $236.2 million a year earlier. Online sales revenues were down 13 per cent year over year to $42 million for the three months ending Sept. 30, Indigo said.

But on Wednesday Reisman chalked up slowdowns in online sales to challenges that come with “all major technology changes” as the company transitions to a new e-commerce platform. She said that “most critical disruptions are fully resolved” and Indigo is seeing a “meaningful improvement” in online sales conversions.

Weaker holiday spending could hurt Indigo​


Chief financial officer Craig Loudon noted Wednesday that Indigo is heading into the critical holiday quarter, which the company is “highly dependent on” for a “disproportionate” amount of sales.

But he said the struggling retailer is coming up against expectations for weak consumer demand this year — a sentiment backed up by recent Ipsos polling conducted exclusively for Global News.

Nearly 80 per cent of Canadians said in the poll released Wednesday that inflation and rising interest rates have had a “significant” impact on their holiday budgets for gifts and travel.

While three in 10 Canadians (29 per cent) said they intend to spend less on gifts this coming holiday season than they did last year, roughly half (49 per cent) said they’ll spend about the same, the poll found.

“Like the wider retail industry, Indigo continued to be negatively impacted by the current macroeconomic environment, which has put downward pressure on consumer buying behaviour and led to reduced overall demand,” Loudon said Wednesday.

Indigo reported a net loss of $22.4 million in its second quarter, compared with a net loss of $15.9 million a year earlier. The company says it lost 80 cents per diluted share for the quarter, compared with a loss of 57 cents during the same quarter last year.
Click to expand...
 
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