The Knot was out today with news on their 2nd quarter earnings. At first glance the news seems to be pretty positive (and that is the way the stock market sees it — up 10% today) with net revenues up 3% year-over-year. As you dig a little deeper it’s a mixed bag of results with local online advertising up 7% (really?) but registry services are off 9%.
Management went on to say that ” . . . macroeconomic conditions continue to negatively impact our local wedding vendor, retail clients and national advertisers.” The CEO was also reticent to acknowledge a recovery and was going to continue to focus on strategic investments and expense control.
The Knot is a good company for the professional wedding photographer to follow. You can look to them as a leading indicator of the future bride’s economic outlook. As one of the leading wedding media and services company, The Knot is often the starting point in planning a wedding and ends up providing many products and services to wedding couples.
Although the consumer is not out of the economic woods yet, the major economic indicators are beginning to point in a neutral to positive direction. Although The Knot news was mixed — it feels like the glass is half full versus half empty. This is good news for the wedding photographer! It will be very interesting to see The Knot’s earning news in November.
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