VANCOUVER SUN | Indigo was on track to be profitable. The pandemic changed that
A clipping article for writing practice. In the article "Indigo was on track to be profitable. The pandemic changed that," Bloomberg News. Indigo PETER J. THOMPSON / NATIONAL POST FILES (Bloomberg) - Indigo Books & Music Inc., Canada's largest chain of bookstores, was on track to return to profitability right up until the pandemic hit. Instead, it reported a C$171 million ($125 million) loss in the fiscal fourth quarter ended in March and expects a "damaging" year ahead, according to Chief Executive Officer Heather Reisman. Indigo was on the road to end the fiscal year with "essentially flat" adjusted earnings before interest, taxes, depreciation and amortization, and then "return to profitability," reflecting the Toronto-based retailer's attempts to "position the company to be able to thrive in a vastly changed environment," Reisman said in a conference call with investors and analysts Wednesday morning. And then the enviro...