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Indigo Reports FY22 First Quarter Results - Indigo emerging from the pandemic with a + 27 % revenue rebound despite protracted COVID - 19 related store closures including in its largest market - Ontario . TORONTO , ON - August 12 , 2021 -- Indigo Books & Music Inc. ( TSX : IDG ) , Canada's largest book and lifestyle retailer reported financial results for the 13 - week period ended July 3 , 2021 compared to the 13 - week period ended June 27 , 2020 . Revenue for the quarter increased $ 37.0 million or 27 % to $ 172.1 million as many regions within the Company's retail channel rebounded , driving double - digit growth in both the Company's book and general merchandise businesses . Notably , the Company experienced a surge in demand for its book business from a younger demographic , fueled by the popularity of reading on TikTok ( #BookTok . ) Revenue was further buoyed by the success of an expanded assortment under the Company's proprietary lifestyle brand OUI , showcasing customers ' affinity for both core categories and new product assortment . These results were achieved despite Ontario closures , with over fifty percent of the Company's store locations impacted by mandatory closures in the first nine weeks . The Company is well - positioned with an omnichannel strategy that strongly resonated ; in addition to the noted retail recovery , the online business sustained growth around three times its pre - COVID fiscal 20 levels and revenues through store - pick up capabilities grew nearly five times from the same period last year . Commenting on the results , CEO Heather Reisman said : " our strong first quarter sales performance reflects the beginning of a welcomed recovery in retail , the continued strength of online and the Indigo brand in general . In addition , it is a testament to our teams ' successful management of store re - openings for over half our retail fleet and thoughtful inventory management . These results validate our ability to evolve with changes in our environment , as we focus on delivering a return to full - year adjusted EBITDA profitability . " Adjusted EBITDA for the quarter was a loss of $ 14.9 million compared to a loss of $ 23.7 million for the same period last year . This improvement was driven by strong sales performance and stronger merchandise margins across all channels as a result of lower promotional discounting . These year - over - year improvements are also notable given a decline in external COVID - 19 labour support provided in the current year and an increase in retail operating expenses associated with store re - openings . Indigo reported a net loss of $ 21.9 million ( $ 0.79 net loss per basic common share ) compared to a net loss of $ 31.6 million ( $ 1.15 net earnings per basic common share ) last year for the reasons discussed .