Gannett (GCI) Reports Decline in July Revenues
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Gannett Co., Inc. (NYSE: GCI) reported operating revenues for the seventh period ended August 3, 2008 declined 12.3% compared with the same period in 2007. For comparison purposes, the exchange rate of the British pound decreased slightly compared to last year. If the exchange rate had remained constant year-over-year, total pro forma operating revenues would have declined 12.0%.
Publishing advertising revenues in July were 16.7% lower compared with the same period a year ago. On a constant currency basis publishing advertising revenues would have declined 16.4%.
Retail advertising revenues declined 10.5% in the seventh period. In the U.S., across all products, the decline was led by softness in the telecommunications, department stores, home improvement and furniture categories.
Classified revenues declined 25.2% in July.
Gannett Co., Inc. is an international news and information company. In the United States, the Company publishes 85 daily newspapers, including USA TODAY, and nearly 900 non-daily publications. [SM]
Publishing advertising revenues in July were 16.7% lower compared with the same period a year ago. On a constant currency basis publishing advertising revenues would have declined 16.4%.
Retail advertising revenues declined 10.5% in the seventh period. In the U.S., across all products, the decline was led by softness in the telecommunications, department stores, home improvement and furniture categories.
Classified revenues declined 25.2% in July.
Gannett Co., Inc. is an international news and information company. In the United States, the Company publishes 85 daily newspapers, including USA TODAY, and nearly 900 non-daily publications. [SM]
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