Gannett Announces First Quarter 2025 Results

For the Three Months Ended July 3, 2021: Net sales increased 45% to $357.7 million, compared to $246.9 million during the same period last year. *Direct-to-consumer (“DTC”) channel net sales increased 48% to $196.9 million, compared to $133.0 million in the prior year quarter, driven by strong performance in both Drinkware and Coolers & Equipment. The DTC channel grew to 55% of net sales, compared to 54% in the prior year period. *Wholesale channel net sales increased 41% to $160.8 million, compared to $113.9 million in the same period last year, driven by both Drinkware and Coolers & Equipment. In the second quarter of 2020, wholesale channel net sales were adversely impacted by the temporary store closures due to COVID-19. *Drinkware net sales increased 69% to $192.9 million, compared to $114.3 million in the prior year quarter, primarily driven by the continued expansion of our Drinkware product offerings, including the introduction of new colorways and sizes, and strong demand for customization. *Coolers & Equipment net sales increased 23% to $157.8 million, compared to $128.6 million in the same period last year, driven by strong performance in soft coolers, bags, outdoor living products, cargo and hard coolers. Gross profit increased 52% to $209.1 million, or 58.5% of net sales, compared to $137.5 million, or 55.7% of net sales, in the second quarter of 2020.

Hachette Book Group has acquired most of the assets of Meadowbrook Press, which is based in the Minneapolis suburb of Minnetonka. Approximately 25 of Meadowbrook’s pregnancy, childcare, and parenting backlist titles will be updated and reissued under the Da Capo Lifeline Books imprint. Another 25 of Meadowbrook’s children’s and gift/humor backlist titles will be reissued by HBG's Running Press unit. Meadowbrook Press was founded in 1975 by Bruce Lansky and his then-wife, Vicki, to publish her first book, Feed Me I’m Yours, a cookbook for parents of young children; it has sold to date more than three million copies. The company is also the publisher of several bestselling titles for parents and expectant parents, such as The Simple Guide to Having a Baby, which has sold 1.5 million copies, Pregnancy, Childbirth and the Newborn, which has sold almost 1.4 million copies, as well as six baby-naming books, including 100,000+ Baby Names. The baby-naming books, which were authored by Lansky, have sold a total of more than 11.5 million copies. Click Read More below for additional information.

"In 2024, we made continued strong progress executing on our strategy to advance our digital transformation, resulting in total digital revenues exceeding 45% of total revenues in the fourth quarter, and amounting to over $1.1 billion for the year. Equally important, we expanded our audience, improved engagement, and grew digital revenues through diversified channels. Total 2024 digital revenues increased by over 5% compared to 2023," said Michael Reed, Gannett Chairman and Chief Executive Officer. "The successful execution of our strategy has driven continued improvement across our key financial metrics. In 2024, we delivered full-year growth in both Adjusted EBITDA and free cash flow, while driving improvement to our bottom line. We also remained focused on enhancing our capital structure in 2024, which was evidenced by repaying $73.5 million of debt in addition to repayments made in connection with the completion of our comprehensive refinancing that extended our debt maturities and significantly reduced potential future dilution from our convertible notes."