News Brief

Tough August For Knight Ridder

Knight Ridder's operating revenue for August was down 1.3%, pushing year to date revenue to a negative 4.4% over 2001. Total advertising revenue was down 1.2% for the month and 5.1% for the year to date. Retail, building on its July momentum, was up 4.1% for the month and 0.8% for the year to date. Many markets gained strength. Retail revenue for the month in San Jose was up 10.5%; Miami was up 6.7%, Charlotte was up 5.8%, Kansas City was up 3.0%, St. Paul was up 5.6%, Fort Worth was up 2.4% and Philadelphia was up 1.4%. General advertising revenue was down 4.3% for the month and down 4.8% for the year to date. A number of markets showed strength. San Jose was up 28.2%, Contra Costa was up 30.8%, Miami was up 2.2% and Kansas City was up 5.3%. Although telecommunications was strong in many major markets, it was soft in Philadelphia and Fort Worth. Travel, including airlines, hotels and cruise lines, showed growth in most markets.
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