July 30, 2009 / 8:24 PM / 9 years ago

UPDATE 1-Indigo loss grows on store investments

* Revenue rises to C$193.6 mln

TORONTO, July 30 (Reuters) - Indigo Books & Music (IDG.TO), Canada’s biggest book retailer, posted a bigger quarterly loss on Thursday as the company spent more money on its digital download service and its line of eco-friendly stores.

Indigo lost C$2.3 million ($2.1 million), or 9 Canadian cents a share, in the three months ended June 27. That was worse than the loss of C$1.2 million, or 5 Canadian cents a share, a year earlier.

Revenue rose to C$193.6 million from C$190.6 million.

The bigger loss for the quarter reflects higher investment in Indigo’s paper and gift retailer Pistachio, and in Shortcovers, its online digital download service that works with computers and smartphones, chief executive Heather Reisman said in a statement.

Indigo released its results after markets closed. During the day, the company’s shares rose 6 Canadian cents to close at C$12.21 on the Toronto Stock Exchange.

    $1=$1.08 Canadian Reporting by Wojtek Dabrowski; editing by Janet Guttsman

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