Indigo posted a Q1 loss on Kobo

Rueters are reporting:

TORONTO, Aug 9 (Reuters) - Indigo Books & Music Inc (IDG.TO), Canada's largest bookstore chain, posted a greater-than-expected quarterly loss on Monday, due to its continued investment in Kobo Inc, its eReading division.

First-quarter net loss was C$5.3 million ($5.14 million), or 21 Canadian cents a share, for the period ended July 3, compared with a loss of C$2.8 million, or 9 Canadian cents, a year earlier.

Revenues rose 5.5 percent to C$204.3 million from C$193.6 million.

Q1 per share loss $0.21 vs $0.09 yr ago

* Revenue $204.3 million vs $193.6 million

* Same-store sales up 1.5 pct at Indigo, Chapters

* Same-store sales down 0.7 pct at Coles, Indigo Spirit

So of the 3 partners behind Kobo, RedGroup are worried about being able to meet their loan payments, Borders US are losing money every quarter, and Indigo are also losing money. Well, this is certainly going to be a success.

About Nate Hoffelder (11594 Articles)
Nate Hoffelder is the founder and editor of The Digital Reader:"I've been into reading ebooks since forever, but I only got my first ereader in July 2007. Everything quickly spiraled out of control from there. Before I started this blog in January 2010 I covered ebooks, ebook readers, and digital publishing for about 2 years as a part of MobileRead Forums. It's a great community, and being a member is a joy. But I thought I could make something out of how I covered the news for MobileRead, so I started this blog."

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