TORONTO – Strong sales of American Girl dolls and gift products like candles and blankets helped pushed up profits at Indigo Books and Music Inc. (TSX:IDG) to $33 million in the third quarter.The net earnings amounted to $1.28 per diluted common share for the three-month period ended Dec. 27, versus profits of $8.5 million or 33 cents per share in the same period a year ago.The country’s largest book, gift and specialty toy retailer says the profits were also helped by improved margins, lower operating costs and lower tax expenses.Revenue for the period was up two per cent to $339.4 million versus $332.4 million a year ago. The gain came despite the company operating five fewer superstores and one less small format store that in the year-earlier quarter.Indigo says sales from its Indigo and Chapter locations grew 5.5 per cent year over year, while sales its smaller Coles and Indigospirit stores were flat. Online sales grew 10.6 per cent.“We are pleased with these results which show both top line growth and improvements in profitability,” chief executive Heather Reisman said in a statement.“We’re confident these results demonstrate customer affection for our brand. Our entire team is focused on continuing to position this vibrant Canadian business for long-term growth and success.”Indigo is nearing the end of its five-year transformation from mainly a bookseller to a retailer that offers a variety of gift and toy products.Indigo first began making changes to its business model in 2010 as the popularity of ebooks and e-readers, like Kodbo and Amazon’s Kindle, grew. Since then, the bookseller has been dealing with intense competition for book sales from the likes of Walmart and online giant Amazon.Indigo operates 91 large format super stores and 130 small format locations under various banners such as Chapters and Indigo, Coles, Indigospirit, SmithBooks and The Book Company. American Girl dolls, lifestyle products boost Indigo’s Q3 results AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by The Canadian Press Posted Feb 3, 2015 2:54 pm MDT
US President Donald Trump and North Korean leader Kim Jong-un concluded their meeting in Singapore by signing a statement covering issues that included a pledge from North Korea to complete the denuclearization of the Korean Peninsula, and end its nuclear weapons programme.In a statement issued by his Spokesman, UN chief António Guterres urged the parties “to seize this momentous opportunity”.For the Secretary-General, the summit was “an important milestone in the advancement of sustainable peace and the complete and verifiable denuclearization on the Korean Peninsula.”The head of the International Atomic Energy Agency (IAEA) has also welcomed the outcome of the talks that took place over the course of several hours in Singapore, which was the first time that a sitting US President had sat down face-to-face, with a leader of DPRK.IAEA Director General Yukiya Amano said the agency stands ready to undertake any nuclear verification activities in North Korea, if requested.Last September, the IAEA established a team in its Department of Safeguards to enhance its ability to monitor the country’s nuclear programme.At the time, Pyongyang had just launched its sixth and largest nuclear test since it began its programme, in 2006.The head of the commission for the Comprehensive Test Ban Treaty Organization, or CTBTO, also welcomed the statement from the two leaders on ridding the Peninsula of nuclear weapons.Executive Secretary, Lassina Zerbo, said that this “positive and direct dialogue should be heralded as a truly significant step forward for international peace and stability.””If invited, the CTBTO PrepCom, within its mandate, will support any verification activities for the permanent closure of the Punggye-ri nuclear test site,” he added.