Walmart Releases Q3 FY21 Earnings

Adams Publishing Group is acquiring The Livingston Enterprise and its parent company Yellowstone Newspapers, consisting of 13 small-town Montana newspapers. Terms were not disclosed. The deal was reached last Friday by John Sullivan, president of the Montana Group, and Mark Adams, president and CEO of Minnesota-based Adams Publishing Group (APG). It is expected to close on Nov. 1. This marks the end of a 57-year reign in the local newspaper business for the Yellowstone Group.

In its half-year results to 24 September 2017, the group posted a slight sales increase of 2% to £4.83bn, while operating profit both before and after transformation costs were down sharply, from £206m to £89m and £148m to £26m respectively. Royal Mail put this down largely to an increase in its ongoing UK defined benefit pension service costs of £114m. Pre-tax profit fell 30%, from £110m to £77m, but post-tax profit almost doubled to £168m - largely due to a tax credit related to the closure of its pension scheme to future accruals. Net debt was down 15.5%, from £452m to £382m. The group expects its net cash investment to fall to £450m for the full-year, down from £590m per annum for the past three years. Chief executive Moya Greene described the first half as successful despite the “headwinds we are facing”. Click Read More below for additional information.

Pitney Bowes announced it is acquiring Newgistics Inc. for $475 million in a move to accelerate Pitney Bowes’ expansion into the U.S. domestic parcels market. “Newgistics fits uniquely at the intersection of our parcel growth strategies and will accelerate the overall transformation of Pitney Bowes,” said Marc B. Lautenbach, President and Chief Executive Officer of Pitney Bowes. “This acquisition combined with recent innovations in mailing and shipping for SMB clients, organic growth of our global ecommerce business, and expansion of our presort and parcel services network – definitively anchors Pitney Bowes in a growing space and vastly increases the value we can deliver for our clients.”