-GAAP EPS from continuing operations of $1.22 and Adjusted EPS1 of $1.21 were above the Company’s guidance of $0.80 to $1.00 -First quarter GAAP EPS from continuing operations of $1.22 was 20.0 percent higher than first quarter 2016. First quarter 2016 performance included $0.26 of debt-retirement costs. -Adjusted EPS was $1.21, 6.1 percent below first quarter 2016. -First quarter comparable sales decreased 1.3 percent, driven by small declines in both traffic and basket size. -Comparable digital channel sales increased 22 percent, on top of 23 percent growth in first quarter 2016. -Target returned $637 million to shareholders in the first quarter through dividends and share repurchases. click Read More below for additional detail
Condé Nast has a new owner for another one of its titles. This time, Brides sold to Dotdash, a digital media company based in the U.S. Terms of the agreement were not made public.
Under the new ownership, Brides’ August/September issue will be its last printed in the U.S. and its September/October issue will be the last printed in the U.K. Instead, Dotdash will invest in growing its coverage online and across platforms.
Most recently, Brides, which was founded 85 years ago, had a circulation of about 302,000, according to an average reported in December by the Alliance for Audited Media. When it was first reported that Condé would unload three of its brands, including Golf Digest (which sold earlier this week to Discovery) and W (still on the market), experts told Adweek that Brides, in particular, struggled to remain a relevant and thriving brand serving the wedding space with a slew of digital media companies filling that void, like The Knot.