This decline reflects the financial impact of government mandated store closures and customer capacity restrictions that impacted all 177 stores in fiscal 2021. On a normalized 52-week basis, total revenue decreased 7.1% compared to the same period last year.
#INDIGO BOOKS AND MUSIC INC TORONTO FULL#
Revenue for the full year decreased $53 million were 5.5% to $904.7 million from $957.7 million in the prior year. We've also provided certain metrics for fiscal 2021 but exclude the impacts of the 53rd week to assist you with your analysis. Comparative figures have been provided for the 52 weeks ended March 28 2020. The results we are discussing there for the 53 weeks ended April 3 2021. With the addition of Peter Ruis as President and a healthy balance sheet with no outstanding debt, we look forward to a return to profitability in fiscal 2022. This expansion will be buttress by further investment in digital and omni experience for our customers initiated this past year and already well underway.īack to speaking on fiscal 2021, margin pressure from the need to clear through retail inventory after waves of store closures paired with unusually elevated shipping costs, driven by the channel shift impacted sales to adjusted EBITDA. In addition to absorbing some COVID-19 downside, this launch demonstrates the success of assortment expansion as a growth lever for our business as we look forward to a post pandemic recovery. We also successfully launched our new home brand OUI, which was well received by our customers with many items selling out. This performance is a testament to the agility and dedication of the Indigo team who successfully pivoted to capitalize on the consumer shift to fully commerce shopping, and we delivered transformative growth.Īmidst the complexity of this global health crisis. Online penetration more than doubled, partially offsetting the sales losses from a severely restricted retail business. Boyd by the exceptional triple digit growth in online the entire delivery of enhanced omni channel capabilities and a renewed strength in our core book business net revenue decreased just 5.5% from the prior year against draconian governor mandated store closures in our largest province, Ontario, and capacity constraints across the country that meaningfully disrupted our business, including during the all-important holiday season we feel this is a remarkable result. I am proud of the ways in which Indigo has demonstrated resilience and resourcefulness throughout the course of this pandemic, and pleased to report that our customers adapted with us embracing indigo.ca and our Express pickup and curbside offerings. It is almost redundant to say that this year will be remembered as a water shed moment in history, a turbulent time that will prove to transform so much of who we are. I would now like to turn the call over to Heather Reisman. And to the extent that it does, we refer you to our cautionary statement regarding forward-looking statements in the press release and the MD&A related to this quarter. This conference call may contain forward-looking statements. A playback of the call will also be available by telephone until 11:59 PM Eastern Time on June 09, 2021. The conference call will be recorded and archived in the Investor Relations section of the Indigo website. Regarding the materials for this conference call, we issued the press release yesterday that can be found at indigo.ca and on SEDAR. Joining us from Indigo today is the Chief Executive Officer, Heather Reisman. My name is Craig Loudon, and I’m the Chief Financial Officer. And thank you for joining us to review Indigo’s fiscal 2021 results. I would now like to turn the conference over to Craig Loudon. This call is being recorded on Wednesday, June 02, 2021. Following the presentation, we will conduct a question-and-answer session. At this time, all lines are in a listen-only mode. Financial Year 2021 Year-End Analyst Call. Good morning, ladies and gentlemen and welcome to the Indigo Books & Music Inc. Heather Reisman - Chief Executive Officer ( OTCPK:IDGBF) Q4 2021 Results Earnings Conference Call J9:00 AM ET
0 kommentar(er)
