Comparative figures have been provided for the 13 weeks ended December 28, 2019. The results we are discussing are for the 13 weeks ended December 26, 2020.
With a clear focus, a healthy balance sheet and no outstanding debt, we are confident in the foundation we've established and we look forward to putting this pandemic behind us. We look forward to Peter's expertise as we pivot to a living with an intention company, with books still very much at our core, providing our customers with the ideas, leading experts and products to help them in their quest to live with purpose. Peter brings a wealth of omnichannel experience, most recently as the Managing Director of Anthropologie at the URBN Group. Just after the close of the quarter, Indigo launched its Well Said podcast, aimed at further engaging with our customers on key topics and issues of interest to them.įinally, we're thrilled to announce the appointment of Peter Ruis as our new President. This enhanced omnichannel network did resonate and again helped to blunt some of the impact. When we last spoke, we had just launched an industry-leading click and collect express service and a partnership with Instacart. Our omnichannel experience is also worthy of note. It is, however, worth noting that the agility of our response to the pandemic and the consumer response to our newly-launched rebrand and strong book sales did blunt some of this impact. All of which impacted us during the most important six weeks of this quarter and, in fact, of our year, including the two weeks before Christmas and the early part of the Boxing Week period.Īs you can imagine, this is massively disruptive to the financial performance of our business and, in fact, to everyone in the organization. In addition to extremely strong online performance, our retail stores were experiencing a steady recovery prior to the government-mandated closures and limitations. Fortunately, the strength of our brand and the tireless efforts of our teams absorbed some of the headwinds based from government-mandated closures in key provinces and extreme metering of guests in those provinces which were open this holiday quarter.ĭouble-digit revenue growth in the first seven weeks of the quarter had set up on a trajectory for meaningful growth for the quarter, suggesting the strongest holiday period for the company in many years. Indigo continues to adapt through the massively disruptive impact of COVID-19.
I would now like to turn the call over to Heather Reisman. And to the extent that it does, we refer you to our cautionary statement regarding forward-looking statements in the press release and the MD&A related to this quarter. This conference call may contain forward-looking statements. A playback of the call will also be available by telephone until 11:59 PM Eastern Time on February 12, 2021. The conference call will be recorded and archived in the Investor Relations section of the Indigo website. It can be found at indigo.ca and on SEDAR. Regarding the materials for this conference call, we issued the press release yesterday. Joining us from Indigo today is the Chief Executive Officer, Heather Reisman. My name is Craig Loudon and I'm the Chief Financial Officer. Good morning and thank you for joining us to review Indigo's third quarter fiscal 2021 results. We will now begin the formal presentation. But just to point out, I will be handling the questions today. So you will hear from Heather during those remarks and then I will open the call for questions. However, given the potential for connectivity issues in this remote work environment, we did prerecord our remarks yesterday. I just wanted to point out, Heather is unfortunately unable to make this morning's call. This is Craig Loudon, Chief Financial Officer of Indigo. I would now like to turn the conference over to Craig Loudon. This call is being recorded on Friday, February 5, 2021. Following the presentation, we will conduct a question-and-answer session. At this time, all lines are in a listen-only mode. Good morning, ladies and gentlemen and welcome to the Indigo Books & Music Incorporated Financial Year 2021 Q3 Analyst Conference Call. Heather Reisman - Chief Executive Officer ( OTCPK:IDGBF) Q3 2021 Earnings Conference Call Febru9:00 AM ET
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