Indigo reports lower sales, net loss in second quarter as customers cut back

TORONTO — Indigo Books & Music Inc. reported a net loss of $22.4 million in its second quarter, down from a net loss of $15.9 million a year earlier. 

Revenues for the Toronto-based retailer were $206,885, down from $236,247 a year earlier.

The company says it lost 80 cents per diluted share, down from a loss of 57 cents during the same quarter last year. 

Indigo says sales in person and online were negatively impacted by the challenging macro-economic environment, with reduced demand and heightened price sensitivity among shoppers.