At Reader's Digest Association, A Slow In Losses
Reader’s Digest Association has experienced a slow in losses through the first quarter of this year (which ended March 31 and happens to mark the company’s first quarter since reemerging from Chapter 11 bankruptcy) compared to that time last year — specifically, a $27.1 million loss versus a considerably larger $499.3 million. The company believes restructuring has been the key to turning things around.
Then again, revenue for the company declined 10.2 percent to $413.9 million following a reduced base rate for Reader’s Digest magazine, as well as the shuttering of Backyard Living, Cooking for Two, Purpose Driven Connection and Selecciones.
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