The company now expects to reach an 8 percent profit margin by 2020, two years earlier than it had been targeting. (fortune.com)
He explains that corporate owners of major publishing houses expected impossible 15 to 20 percent profit margins in an industry with traditional margins of 3 to 4 percent. (salon.com)
He adds that New York also has among the highest property taxes and insurance costs in the nation, and the wage hike will wipe out his 3 percent profit margin entirely. (inc.com)