Cond Nast, the owner of glossy magazines including Vogue, Vanity Fair and GQ, has slumped to a 14m annual loss as it battles to reshape its business for the digital future.
The high-end magazine publisher reported a pre-tax loss of 13.6m in 2017 a huge swing from the 6.6m profit recorded the previous year according to its most recent financial filings made public on Thursday.
The company revealed that revenue was down 6.6%, from 121m to 113m.
The reversal in fortune came in a tumultuous year that saw the British Vogue editor Alexandra Shulman leave after more than 25 years, while Nicholas Coleridge, who had run Cond Nast Britain for almost three decades, stepped back to become chairman. The group also halted publication of Glamour as …
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