Company: GHC
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000104889-25-000032
Chunk: 74

Company: Graham Holdings Co
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 74
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 product sales, and lower overall gross profit on used vehicles; partially offset by higher overall gross profit on services and parts.

Other Businesses

A summary of revenue by category for other businesses:

Three Months EndedMarch 31%(in thousands)20252024ChangeOperating RevenuesSpecialty (1)$38,763 $34,166 13 Retail (2)26,122 26,036 0 Media (3)20,012 23,096 (13)$84,897 $83,298 2 ____________(1)Includes Clyde’s Restaurant Group, Decile and Supporting Cast(2)Includes Framebridge, Saatchi Art and Society6(3)Includes Slate, Foreign Policy, Code3, World of Good Brands and City Cast

Overall, revenue from other businesses increased 2% in the first quarter of 2025. Specialty revenue increased due to revenue growth at Clyde’s Restaurant Group (CRG), Decile and Supporting Cast. Retail revenue increased slightly due to revenue growth at Framebridge and Saatchi Art, offset by lower revenue at Society6. Media revenue declined due to lower revenue at Slate, World of Good Brands (WGB) and Code3, partially offset by revenue growth at Foreign Policy and City Cast. 

Overall, operating results at other businesses were down in the first quarter of 2025 due to declines at Framebridge, Slate, Society6, City Cast and Code3, partially offset by improved results at WGB, CRG, Decile, Foreign Policy, Saatchi Art and Supporting Cast.

Clyde’s Restaurant Group

CRG owns and operates 14 restaurants and entertainment venues in the Washington, DC metropolitan area, including Old Ebbitt Grill and The Hamilton. In July 2024, CRG opened Rye Street Tavern, a new restaurant in Baltimore, MD. In November 2024, CRG opened Cordelia Fishbar, a new restaurant in Washington, D.C. Revenue increased in the first quarter of 2025 due to the new restaurant openings and modest price increases. CRG reported an operating profit in each of the first quarters of 2025 and 2024, with improved results in the first quarter of 2025.

CRG plans to open a new restaurant in Reston, VA in 2026.

Framebridge

Framebridge is a custom framing service company, headquartered in Washington, DC, with 35 retail locations, and two manufacturing facilities in Kentucky and Virginia. In addition, Framebridge