23:39:29 EDT Mon 13 May 2024
Enter Symbol
or Name
USA
CA



Indigo Books & Music Inc
Symbol IDG
Shares Issued 27,666,558
Close 2023-10-26 C$ 2.15
Market Cap C$ 59,483,100
Recent Sedar Documents

Globe says Indigo's returning CEO has a new vision

2023-10-27 07:32 ET - In the News

The Globe and Mail reports in its Friday, Oct. 27, edition that Indigo Books & Music chief executive officer Heather Reisman showed off a new store this week that represents her vision for the company. The Globe's Susan Krashinsky Robertson writes that Ms. Reisman was mum on recent high-profile departures and mistreatment allegations. Instead, the CEO spoke of her vision for the future. Ms. Reisman returned to the CEO role in September, after the departure of her would-be successor Peter Ruis, who was in the top job for just a year. Ms. Reisman said she wants to lead a transformation at the company, which has been losing money in recent years. Her plan includes increasing the proportion of Indigo's sales that come from books -- a reversal of a strategy she began implementing years ago to branch out into selling more general merchandise. Over time, the stores expanded to selling items such as skin care, fashion accessories and bedding. She said, "I think what happened is, we got a bit too far away from what the original intent was." She wants books to represent 65 per cent to 70 per cent of Indigo's sales. In the fiscal year ended April 1 print products accounted for 51.9 per cent of Indigo's sales.

© 2024 Canjex Publishing Ltd. All rights reserved.