ADVO Revenue Hits Record
ADVO Inc.'s revenue for its fiscal first quarter ended Dec. 27 was a record $302.4 million, up $11.2 million over the prior-year quarter, the direct marketing company reported last week.ADVO, Windsor, CT, said this was achieved despite a grocery-clerk strike in Southern California since Oct. 11.
ADVO estimated losing $4.9 million in revenue from Southern California grocers reducing their advertising budgets. Still, total advertising piece volumes for the grocery category nationally rose 2.1 for the quarter, reflecting continued strength in the core grocery category.
ADVO's overall ad piece volumes grew 10.1 percent versus the prior-year quarter to 7.0 billion, and pieces per package grew 6.1 percent.
