(Toronto) Indigo says it lost $28.5 million in the first quarter, compared to a loss of $25.4 million in the same quarter last year.
The Toronto book retailer says revenue for the quarter ended July 1 was $179.2 million, down from $204.6 million a year ago.
Indigo points out that sales for the quarter were affected by the carried over effects of the ransomware attack suffered during the previous quarter.
The company says its ability to replenish inventory has been challenged, impacting the diversity offered at retail and online, and the attack also hurt its search engine optimization , which led to a drop in online sales.
Sales have also been impacted by the downward pressures of the current economy, which has resulted in lower demand and heightened consumer price sensitivity.
The loss per share was $1.02, compared to a loss of $0.91 a year ago.