Retailer Roots reports nearly 97M Q2 loss falls short of expectations

The Canadian Press Companies in this story: (TSX:ROOT) TORONTO — Retailer Roots Corp. reported a loss of nearly $9.7 million in its latest quarter as the company fell short of expectations.The company says the loss amounted to 23 cents per share for the 13-week period ended Aug. 3 compared with a loss of nearly $4.1 million or 10 cents per share a year earlier.On an adjusted basis, Roots says it lost 15 cents per share compared with an adjusted loss of six cents per share in the same quarter last year.Analysts on average had expected a loss of 11 cents per share, according to financial markets data firm Refinitiv.Overall sales totalled nearly $61.7 million for the quarter, up from nearly $60.2 million in the same quarter last year.However, comparable sales fell 2.9 per cent due to a drop in store traffic and a delay in the flow of product to stores due to a transition to a new distribution centre, partially offset by better than expected eCommerce sales and benefits from store relocations and renovations.“We are pleased with the improving trends we have seen moving into Q3,” chief executive Jim Gabel said in a statement.“We entered the quarter with a more seasonally appropriate offering and consumers are responding well to our back-to-school assortment.” read more

Crime pays thrillers and detective novels now outsell all other fiction

first_imgJacks Thomas, London Book Fair director, said: “Television adaptations bring in new audiences. If you turn on your TV, there are so many crime dramas and thrillers, and lots of them are based on books.“Netflix is a great enabler, and these days there are whole channels dedicated to crime – you can pretty much watch Poirot on a loop.”Others had different theories on why crime novels are having a moment. “We have seen a surge in the popularity of psychological suspense brought about by a melding of the women’s relationship and detective genres,” said Selina Walker, publisher of the Century and Arrow imprints at Penguin Random House.“We are getting strong female characters, often but not always written by women, and that seems to have hit a note.”David Baldacci, the best-selling crime author, said the genre fits the turbulent political times. “People inherently don’t like folks who do bad to get away with it. In real life they do. But in novels, evil is punished and the good guys mostly win,” he said. Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings. David Baldacci Crime novels and psychological thrillers are outselling other types of fiction for the first time, after a glut of television dramas boosted interest in the genre.In 2017, 18.7 million crime and thriller books were sold, up 19 per cent since 2015. General and literary fiction titles, which have led the market for the past 20 years, sold 18.1 million copies.Women are driving the boom, accounting for 53 per cent of crime and thriller sales. The market last year was worth £117 million, according to figures unveiled at the London Book Fair by Nielsen BookScan.Among the books topping the best-seller lists last year were Louise Doughty’s Apple Tree Yard, first published in 2013 but re-issued to tie in with a BBC adaptation starring Emily Watson.The BBC also adapted JK Rowling’s Cormoran Strike novels, written under the pen name of Robert Galbraith. David Baldacci, who was awarded the Specsavers Nielsen Bestseller Award at the London Book FairCredit:Andrew Crowleylast_img read more