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Indigo Books and Music Inc T.IDG

Alternate Symbol(s):  IDGBF

Indigo Books & Music Inc. is a Canada-based book and lifestyle retailer. The Company is engaged in offering an assortment of books, gifts, home, wellness, fashion, paper, baby, and kid’s products. The Company operates retail stores in all ten provinces and one territory in Canada, and also has retail operations in the United States through a wholly owned subsidiary, operating one retail store in Short Hills, New Jersey. The retail network includes 87 superstores under the Indigo and Chapters names, as well as 84 small format stores under the banners Coles and Indigospirit. The Company also offers a marketplace assortment of giftable products, experiences, services, and subscriptions on www.thoughtfull.co. Its Retail operations are integrated with the Company’s digital channels, including the www.indigo.ca Website and the mobile applications, which are extensions of the physical stores and offer customers an expanded assortment of book titles.


TSX:IDG - Post by User

Post by mingzhuon Jun 23, 2020 11:04pm
184 Views
Post# 31184147

IDG is on its way back to normal

IDG is on its way back to normalfrom SEDAR file https://www.sedar.com/CheckCode.do
"On May 19, 2020, where permitted by local authorities, the Company began the phased re-opening of its retail stores.The Company’s top priority remains the health and safety of its customers, employees and communities,and extensive health and safety measures have been employed based on the guidance and direction from public health authorities.As of the date of this Management Discussion & Analysis, the Company has re-opened 172 of its previously closed retail stores and recalled from temporary layoff 2,878 of its retail leadership and hourly employees.The Company continues its negotiations with its landlords regarding rent abatements to address the financial impacts of COVID-19. Separately, the Company has accelerated its review of its real estate portfolio, and in May 2020, made the decision to not renew the leases for 15 small format stores beyond June 2020. Since the declaration of the COVID-19 pandemic, the Company’s online channel has experienced significant growth in comparison to the prior year.The enhanced health and safety precautions taken to support its distribution centre employees ensured uninterrupted operation of the facilities and allowed the Company to meet the surge in online order volumes.The Company also accelerated the development of its omni-channel fulfilment infrastructure and piloted contactless curbside pick-up in several superstore format stores in an ongoing effort to keep its employees and customers safe"

"it is expected that the Company’s current cash position and future cash flows generated from operations will be sufficient to meet its working capital requirements for fiscal 2021."

it has total 204 stores with 172 back in business, Toronto reopen tomorrow, it should be normal with 15 mall stores permantly closed. CEO cut her salary to 0. 

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