"After launching and/or acquiring 12 magazines in the last seven years -- one of the most aggressive records of any publishing company -- we have re-examined the viability of some of our development titles," said Paul J. Luthringer, a Hearst spokesman, in a statement.
'Quick & Simple' investment continues
"Unfortunately, because the performance metrics we set for new magazines were not achieved, and because of the challenging economy, tough newsstand environment and rising paper and postal costs, two magazines will be discontinued: Shop Etc. (after its October issue) and Weekend (after its September issue)," he said.
Hearst said it is continuing to invest in Quick & Simple, which it introduced last year, and remains interested in buying or building magazines and digital properties. It declined to say what becomes of Weekend and Shop Etc. staffers, including Cynthia R. Lewis, publisher at Shop Etc., and Lauren Michaels, Weekend's publisher.
The 2-year-old Shop Etc. ran 312.6 ad pages from January through July, up 9.2% over the same period a year prior, according to the Publisher's Information Bureau. Weekend, which debuted in June 2005, was never tracked by PIB.