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Originally Posted by Drybrain
Yeah, but I think they're hopeful they'll find a buyer. I like it because it's got a good local section and is more lit-focused than a Coles or something, though the scale is similar. A better browsing store, for sure.
A big bookstore downtown would be great--I don't know if it's going to happen though. Even Calgary doesn't have one (they had a great store called McNally Robinson years ago, but it closed. Now all that's left is a little Indigo "spirit" store that mainly exists to unload discount calendars and discounted hardcovers.)
I fear that the cities that already have proper bookstores downtown are going to lose them, and the cities that don't just...won't.
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Agree -- Bookmark was *waaay* better than a regular Coles. I could actually spend time in there, browsing books that I'd consider buying. Not just a bunch of fancy calendars, sports magazines, and cook books.
As for big bookstores, I'm not sure if I'm ready to eulogize book stores just yet. E-books are widely available now, and often cheaper to purchase, but people still, by large majorities, prefer physical books. People like having libraries. I do too. I think if book stores like Chapters/Indigo are smart, they'll diversify income streams by signing smart e-book distribution deals, leverage online sales, offer a few more products that complement books (Chapters/Indigo does this), and ensuring wide selection, Indigo/Chapters will remain a relatively profitably business. And they need to focus on urban markets, not try to out-Amazon Amazon. They can't. Margins, of course, won't be huge. But it'll make money.
Check it (and note the print business growth was up as well!):
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Indigo Reports Q3 Revenue up 3.0%: Online Revenues at Record Level, Significant Growth in General Merchandise
Indigo Books & Music Inc. (TSX: IDG), Canada’s largest book, gift and specialty toy retailer reported 3.0% growth in revenue for its third quarter ended December 28, 2013. Revenue for the quarter was $332.4 million, up $9.8 million from the previous year driven by double-digit growth in its lifestyle, paper, and toy businesses and new revenue from its recently launched !ndigotech™ business. Additionally, the Company experienced growth in its print business due to a strong line-up of hit titles. The revenue growth was achieved despite the Company operating eight fewer small format stores and one less superstore compared to the same time last year.
On a comparable store basis, Indigo and Chapters superstores posted a 2.6% increase in revenue, while Coles and Indigospirit small format store revenues were up 0.5%. Online sales increased 19.3% to a record $41.5 million, up from $34.8 million for the same period last year.
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IMHO, Chapters should shed "small format" Coles/Spirit stores (leave that to indie sellers) and develop more urban based large format stores, as they sell better.
Link:
http://static.indigoimages.ca/2012/c...essRelease.pdf