NEGATIVE TREND: French media group Lagardère reported a 6.2 percent drop in first-quarter sales to 1.53 billion euros, or $2.1 billion. Net sales at the firm’s multimedia division, Lagardère Active, were 202 million euros, or $278.4 million, down 8.9 percent in the three months ended March 31 versus first-quarter 2013.
Dollar figures are converted from euros at average exchange rates for the period.
This story first appeared in the May 14, 2014 issue of WWD. Subscribe Today.
France’s largest magazine publisher posted a 6 percent decline in its domestic titles’ sales, citing “a difficult advertising market.”
The group, however, noted less magazine circulation erosion in France, which was down 1.6 percent due to a rise in price per issue.
As reported, on April 2 Lagardère entered into an agreement with a consortium of media and digital entrepreneurs to sell its 10 print titles, including women’s magazine Be, as part of a plan to focus on brands with a strong potential for digital development. Lagardère’s flagship titles are the French edition of Elle and Paris Match.