Torstar Reports More Than $2 Million Loss

Posted on by Chief Marketer Staff

Torstar Corp. posted a net loss of $2.7 million Canadian ($2.2 million) for the third quarter, compared to net income of $8.4 million Canadian ($6.9 million) in the prior year.
The direct marketing and communications giant reported
revenue of $372.1 million Canadian ($305.7 million) for the quarter ended Sept. 30, a 0.8% increase over $369.2 million Canadian ($303.4 million) last year.

The company reported that North America direct-to-consumer operating profits decreased $300,000 Canadian ($246.4 million) in the quarter.

Management said revenue growth in Internet book and digital sales were not enough to offset continued revenue declines in revenue in traditional direct mail.

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