TORONTO — As Canada’s biggest bookstore-turned-gift-giver’s-paradise edges toward privatization, it's evident from a stroll around one of its Toronto stores ...
TORONTO — As Canada’s biggest bookstore-turned-gift-giver’s-paradise edges toward privatization, it's evident from a stroll around one of its Toronto stores that the retailer knows some things haven’t been working.
Some of this work appears to be underway already, but how much further it will go depends on a May shareholder vote to decide whether to accept the offer of $2.50 per share in cash — up from $2.25 in February — from Trilogy Retail Holdings Inc. and Trilogy Investments L.P.The deal got a green light from the retailer's board in early April and needs to meet the threshold for shareholder approval before it can go ahead.
Between the low margins linked to books, the dominance of e-commerce giant Amazon and a cyberattack that downed some of the company’s services for weeks, he said, "They've been under such turmoil for the last few years." "There are a lot of people in Canada that are like that, but there are more people that aren't like that."
Some of Indigo's diversification began under Reisman but it gained new momentum under one-time John Lewis and Anthropologie executive Peter Ruis. In 2022, he took the helm of Indigo from Reisman, who was made executive chair before she was due to retire in August 2023. Asked about its strategy moving forward, Indigo said in a statement that it is engaging in "meaningful work" to transform the business and update its range of products.
At the Eaton Centre location, a Columbus Café & Co. has filled the store's coffee shop void and on a recent Wednesday morning, when the weather was too nice to need refuge indoors, had a hearty line. Employees have also worked to expand and freshen the look of the store's upscale baby section, where several customers browsed.
Joanne Mcneish Holding Company Toronto Stock Exchange Eaton Centre Grant Packard
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