Indigo books toronto on1/27/2024 The company, which had 6,300 employees at the end of its 2004 fiscal year, also operates, an online retailer of books, gifts, music, videos, and DVDs. The Toronto-based company controlled by Toronto power couple Reisman and her husband Gerry Schwartz, chairman of Onex Corp., operates bookstores in all provinces under the names Indigo Books Music & more, Chapters, The World's Biggest Bookstore and Coles. "We're in a highly competitive industry." "We have to be aware of what opportunities are created by that," Reisman said, but declined to elaborate when pressed. For its part, Indigo has introduced a small range of digital products, including the faddy iPod MP3 player by Apple. She conceded, however, the industry remains in transition with traditional book retailers forced to contend with the impact of digitization, the Internet and new entertainment technology. "We see this as an area for great growth." "Bibliotherapy has become a very hot topic in the medical world," Reisman said. Among them is an expansion of its "bibliotherapy" book line which includes doctor-recommended picks on a wide array of health issues. Looking forward, Reisman said executives are thumbing through a catalogue of growth initiatives for both its store-based and online segments. Following its summer release, the company booked sales of 250,000 units per day. Rowling's wildly popular Harry Potter franchise, Harry Potter and the Half-Blood Prince, executives said. Those results did not include sales of the sixth instalment of J.K. Quarterly sales rose to $164.2 million from $155.9 million, a gain of 5.3 per cent. Its net loss for the period ended July 2 totalled $8.1 million or 34 cents a share compared with a loss of just under $11 million or 46 cents a share for the same period last year. Late last month, Indigo said it turned the page with a solid jump in sales and improved efficiency which helped trim its losses by 26 per cent in the first-quarter of fiscal 2006. "The good news is the platform is stablized." "Last year market a major transition for Indigo," said chief financial officer Jim McGill. Subsequently, the book store chain has re-engineered its supply system while expanding sales of gifts and lifestyle products with the aim of transforming its shops into "cultural department stores." At that time, the company was required to divest certain holdings in order to win regulatory approval from the federal Competition Bureau. The new store openings will mark the first chapter of expansion for Indigo since its mega-merger with rival Chapters in 2001. "(There's) lots in the pipeline in the growth side of the business."Ĭanada's largest bookstore operator will add three new Indigo superstores in Ottawa, Windsor and Montreal to its portfolio, along with new smaller-format Coles boutiques in Toronto and Uxbridge, Ont., and Whitehorse. "We're in growth mode," Reisman told shareholders during an address at the company's annual meeting in Toronto. is fired up for growth and is set to open a slate of new stores over the coming year, CEO Heather Reisman said Wednesday. TORONTO (CP) - After finally closing the book on its three-year restructuring, Indigo Books & Music Inc. Indigo Books & Music in 'growth mode' to open new stores: CEO Reisman Open a new one in Whitehorse, close one on Bloor Street. Your point about Chapters being a meeting place and library, is not only somewhat true but also further proof of how many people have fallen into the trap of believing that these places are something beyond just beyond a store.Īt the end of the day does it really matter where you buy your CD from? Is your CD somehow going to be better, or bring you something more profound because you bought it at Virgin? Are your Khakis going to elevate your image because there is a tiny little label that says they are from Banana Republic? Is your coffee going to taste better because it comes in a trendy cup with that green and white logo?Ĭorporate retail is not harmful in itself, but when people elevate it to something beyond the simple stores or products they are, then it can be dangerous. They are nothing more than transnational corporations who simpley come to make money. The point we were trying to make is that in the end, its just a store and to think that a Virgin Megastore or Chapters is something worth getting excited over is really kind of sad. Watching American and transnational chains slowly creep into Canadian cities is a very interesting topic to study (at least for me). The point wasnt that retail is not interesting.
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