Indigo Books and Music Inc. reports a loss of $49.6 million for the full year, compared to a profit of $3.3 million a year earlier
TORONTO – Indigo Books and Music Inc. reported a loss of $49.6 million in its last fiscal year in which a cyberattack crippled its website and payment systems and compromised the personal information of some current and former employees.
The retailer says the loss was $1.78 per diluted share for the 52-week period ended April 1, compared to a gain of $3.3 million, or 12 cents per diluted share, in the same period a year earlier.
Sales totaled $1.058 billion, down from $1.062 billion in the prior year.
Indigo also announced the appointment of Donald Lewtas, Joel Silver and Markus Dohle to its board of directors.
Earlier this month, four directors left the retailer’s board, including Chika Stacy Oriuw, who stepped down “due to her loss of confidence in the board’s leadership and mistreatment.”
The company also said in the same June 7 statement that founder and executive chairman Heather Reisman, who stepped down as CEO last year, will retire on August 22.
This report from The Canadian Press was first published on June 28, 2023.
Companies in this story: (TSX:IDG)
