ADVO Inc. has launched two second in-home advertising programs in its Philadelphia, Pennsylvania and Akron-Canton, Ohio markets.
Both programs are scheduled to begin this month and will be distributed in addition to the company's existing in-home programs in those markets. The new Philadelphia program will be delivered weekly on Tuesday and Wednesday, and will initially cover approximately one million households. The Akron-Canton Program will cover approximately 500,000 households weekly on Friday and Saturday.
ADVO reports annual revenues of over $1.1 billion. The company's core ShopWise branded shared mail program is distributed nationally to approximately 60 million households weekly.
In other news, ADVO has revised its revenue and earnings expectations for its first fiscal quarter ending Dec. 29, 2001.
The company expects revenues in the range of $285 to $287 million. This includes approximately $2.2 million of incremental expenses related to organizational realignments and additional security costs and safety initiatives. In addition to these investments, the revision relates to revenue shortfalls during the December holiday season, as retailers did not invest in advertising during this period as vigorously as expected, the company said.
ADVO also revised its outlook for the remainder of fiscal 2002 to accommodate its on-going increased investment in security and tempered revenue outlook. The company expects revenue for the full fiscal year to show a growth rate in the low single digits.
