Monday, September 24, 2007

Correction: Online sales growth much lower

Gannett's U.S. newspapers had 12% online sales gains in each of the first two quarters of this year, according to the company's Securities and Exchange Commission filings. In an earlier post -- which I've since taken down -- I wrote that the gain was much higher: 48% in August vs. August 2006.

(Blogger Alan Mutter and I made the same mistake, relying on a not terribly clear monthly statistical report that actually referred only to the performance of Gannett's broadcast division.)

The correct growth rate -- 12% -- is, in fact, terrible. Across the industry, growth has been averaging a much higher 20.8% during the first half of this year, and even that's a rate that's been slowing. So, Gannett's performance is lagging an already troubling trend.

Sorry for any confusion.

No comments:

Post a Comment

Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."

Note: Only a member of this blog may post a comment.