“Double-digit revenue growth in the first seven weeks of the quarter had set us on a trajectory for meaningful growth," Reisman said in pre-recorded comments shared during a call with analysts on Friday.
"Our retail stores were experiencing a steady recovery prior to the government-mandated closures and limitations, 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."
Still, while the
The book and lifestyle chain reported
Indigo said its profit for the quarter amounted to
Revenue growth in the first seven weeks of the quarter provided some cushion, the company said, but not enough to fully compensate for government-mandated COVID-19 closures in
"We believe that our revenue, when we look at the impact of those closures, would have been above last year in the quarter had those closures not happened in the holiday (period)," Indigo chief financial officer
Bright spots in the quarter included double-digit growth in the company’s baby and wellness categories, Indigo said.
Also, e-commerce revenue grew 92 per cent as Indigo enhanced so-called omnichannel capabilities, including click-and-collect, curbside pickup and Instacart, which blunted some of the effects of mandated reclosures, the company said.
"These results are a testament to the demonstrated resilience of our teams and a deep affinity for our brand, achieved against massive disruption from mandated shutdowns and store limitations during the most important six weeks of our year," Reisman said in a statement.
"These shutdowns created a particularly uneven playing field in
Meanwhile, the appointment of former Anthropologie URBN Group executive
As part of its efforts to establish itself as a lifestyle company, the company also launched a podcast last month called Well Said, hosted by Reisman and journalist
It will feature "meaningful conversations about the art and science of living well."
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