TORONTO – Indigo Books and Music Inc. trimmed its net loss to end its fiscal year that saw it swing to a small profit.

The Toronto-based retailer says it lost $23.4 million in the fourth quarter, compared with a loss of $39.5 million a year earlier.

Indigo did not provide per share earnings numbers for the quarter.

Revenues for the three months ended April 2 were $220.7 million, up 10.9 per cent from $199 million in the fourth quarter of 2021.

For the full-year, Indigo earned $3.27 million on $1.06 billion of revenues, compared with a loss of $57.9 million on $904.7 million of revenues in 2021.

Indigo said revenues surpassed its performance in the preceding three years, including before COVID-19 wreaked havoc on its operations from government-forced store closures.

“This COVID period though challenging, has spurred creative thinking and we are energized by the opportunities ahead of us,” stated CEO Heather Reisman in a news release.

This report by The Canadian Press was first published June 2, 2022.

Companies in this story: (TSX:IDG)