Highlights for the third quarter: • On July 28, 2015 Torstar closed its purchase of a 56% interest in VerticalScope, a vertically focused digital media company which operates across North America for $200 million. Subsequent to the end of the third quarter, Torstar received a $22.2 million distribution from VerticalScope, as anticipated at the time of the closing, reducing its original investment to approximately $178 million. • On September 15, 2015 the Toronto Star launched Star Touch, its innovative new tablet app. • Net loss from continuing operations was $164.8 million ($2.04 per share) in the third quarter of 2015, an increase in the loss of $77.8 million ($0.96 per share) from $87.0 million ($1.08 per share) in the third quarter of 2014.
Bookstore sales rose 2.0% in August over August 2015, according to preliminary estimates released by the U.S. Census Bureau. Sales in August, one the biggest sales months of the year because of students returning to college, rose to $1.66 billion from $1.63 billion a year ago.
The increase in August followed a 1% decline in bookstore sales in July which was the first time monthly sales fell in 2016 compared to 2015. For the first eight months of 2016, bookstore sales were up 4.5% over the comparable period in 2015, hitting $7.85 billion.
For the entire retail segment, August sales increased 3.2%, while sales through August were up 2.9%.