The publicly-traded owner of seven New Mexico newspapers said today it expects to lose up to $70 million this year due to inflation, distribution labor shortages and “price sensitive consumers.”
Virginia-based Gannett Co. Inc. (NYSE: GCI) updated its full-year guidance today during its second-quarter earnings call, predicting a net loss of between $60 million and $70 million. Three months ago, the company was saying it expected to end the year $50 million to $70 million in the black.
CEO Mike…
Source: The Business Journal
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