The New York Times Company (NYSE:NYT) will make 3 new groups in an attempt to reorganize the corporation and promote its online operations. The New York Times is reshuffling its staff after arrival of CEO Mark Thompson previous year.
The New York based media company will presently have groups devoted to digital, print and advertising, as said by a memo to staff.
The reshuffling also will lower the barrier between the New York Times Media Group and the firm’s corporate operations.
Roland A. Caputo, who was CEO of the Media Group, will now concentrate on the print operations. Jim Follo will remain in that position.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Gannett Co., Inc. (NYSE:GCI) fell -0.68% to settle at $21.76, News Corp (NASDAQ:NWSA) moved down -0.95% to end at $30.36 while The McClatchy Company (NYSE:MNI) plunged -0.31% to finish at $3.18 on Friday.
The New York Times Company (NYSE:NYT) last session’s volume of 1.85 million shares was higher than its average volume of 1.41 million shares. The stock after opening at $10.03 hit high price of $10.05 and then closed at $9.96 by scoring -0.60%.
NYT generated revenue of $1.99 billion in the previous twelve months and earned $159.66 million. The Company showed a positive 8.03% in the net profit margin as well as in its operating margin which remained at 5.17%. Company’s annual sales growth for the past five years was -8.98%.
The NYT’s past twelve months’ price to sales ratio was 0.74.
The stock showed weekly upbeat performance of 2.79% which was maintained for the month at 12.16%. Likewise the positive performance for the quarter was recorded as 20.29% and for the year was 51.14% while the YTD performance remained at 16.76%.
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