Indigo Books & Music Inc. will rethink its general merchandise strategy as sales slowed in the past year, said the company’s founder, but it remains convinced that’s where the company’s future growth lies and not with a return to books. “Last year, we just hit a wall,” said CEO Heather M. Reisman during a conference call with analysts Wednesday, a day after the company released its fourth-quarter and full-year financial results. Up until last year, the company had several years of roughly 20 to 30 per cent year-over-year growth in general merchandise, she said. Partly due to the lack of recent growth, Indigo decided to change its creative direction and take a fresh look at how it approaches the category, she said. She noted the future of the business does not lie in returning to books, which remain the base, but in making sure the general merchandise category is strong and growing.

Source: thestar May 29, 2019 18:11 UTC