Paper Clips

Bloomsbury Publishing Plc announces that it has completed the purchase of the members’ interests of ABC-CLIO LLC. The consideration is $22.9 million (£17.3 million), of which $22.3 million (£16.8 million) has been satisfied in cash on completion and up to $0.6 million (£0.5 million) will be satisfied in cash post completion. ABC-CLIO is an established academic publisher of reference, nonfiction, online curriculum and professional development materials in both print and digital formats for schools, academic libraries and public libraries, primarily in the USA. Founded in 1955, ABC-CLIO is based in Santa Barbara, California. ABC-CLIO has four imprints and 32 databases that provide curriculum-aligned content and lesson plans, professional development support and student activities to US schools and academic institutions. It has more than 23,000 titles in its portfolio.

First quarter-to-date service performance scores covering the period Oct. 1 through Dec. 10 included: *First-Class Mail: 90.6 percent of First-Class Mail delivered on time against the USPS service standard, an improvement of 2.1 percentage points from the fourth quarter. *Marketing Mail: 92.1 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fourth quarter. *Periodicals: 82.0 percent of Periodicals delivered on time against the USPS service standard, a slight decrease of .74 percent compared to performance from the fourth quarter. Overall, average days to deliver a mailpiece across the network was 2.7 days.

Fourth Quarter Fiscal Year 2021 Financial Highlights *Adobe achieved record revenue of $4.11 billion in its fourth quarter of fiscal year 2021, which represents 20 percent year-over-year growth. Diluted earnings per share was $2.57 on a GAAP basis and $3.20 on a non-GAAP basis. *Digital Media segment revenue was $3.01 billion, which represents 21 percent year-over-year growth. Creative revenue grew to $2.48 billion, representing 19 percent year-over-year growth. Document Cloud revenue was $532 million, representing 29 percent year-over-year growth. *Digital Media Annualized Recurring Revenue (“ARR”) increased $571 million quarter over quarter to $12.24 billion exiting the quarter, including the addition of enterprise ARR of Frame.io, which closed on October 7, 2021. Creative ARR grew to $10.30 billion. Total enterprise ARR for Frame.io, including business closed by Adobe, exiting the quarter was approximately $29 million. Document Cloud ARR grew to $1.93 billion. *Digital Experience segment revenue was $1.01 billion, representing 23 percent year-over-year growth. Digital Experience subscription revenue was $886 million, representing 27 percent year-over-year growth. *GAAP operating income in the fourth quarter was $1.50 billion.

During 2020 and early 2021, the pandemic-driven shift to stay-at-home work, where people print less, brought a dip in demand for office paper. Now with workers heading back to the office, a new survey commissioned by Stora Enso indicates an expected recovery for office printing paper. “This is good news for the industry,” says Stora Enso’s Jonathan Bakewell, VP, Head of Segment Office and Book Papers, “but we also set out to ask some broader questions about printing behaviour and preferences and what going back to the office would really look like for people.” The survey, which was rolled out to 3,400 people across Sweden, UK, France, Netherlands, and Germany, showed that a return to the office is underway now, with 35% of respondents saying they have already returned and a further 51% expecting to return soon. But they will not be going back to the five-day week. The preferred mix (33%) was for three days at the office and two days at home, while 14% aren’t planning to return to the office at all.

Global research and education leader Wiley today announced the asset purchase of eJournalPress (EJP), a leading provider of software and support services for scholarly publishing. With this investment, Wiley plans to drive the evolution of the technology and platforms that underpin research publishing and advance the future of research communication. EJP’s online manuscript submission, peer review, and journal production tracking systems deliver a comprehensive service for authors, editors and publishers to create, review and manage scholarly content as it moves through peer-review and gets published online. “Getting trusted, peer-reviewed research into the world requires both smart people and sophisticated technology,” said Jay Flynn, Wiley Executive Vice President and General Manager, Research. “By investing in the future of EJP, we will drive innovation in journal workflow and peer review management to deliver best-in-class solutions for our clients and partners.”

French conglomerate Vivendi confirmed it is pushing ahead with its deal to purchase the 17.9% stake in Lagardère held by investor Amber Capital for about $720.6 million. Vivendi, which also owns book publisher Editis, already holds a 26.7% stake in Lagardère and the resulting transaction will give Vivendi 45.1% of its rival's shares. Under French regulations, once a company's stake in another company exceeds the 30% level, it must make a tender offer for all remaining shares and Vivendi confirmed it will be making an offer to buy remaining shares at a price of €24.10 per share.

Penguin Random House’s attorneys responded today to the Department of Justice’s efforts to block its acquisition of Simon & Schuster, attacking the government’s main complaint, that the purchase would “likely result in substantial harm to authors of anticipated top-selling books and ultimately, consumers.” In filing its suit to block the deal November 2, the DOJ said that a combined PRH-S&S, along with HarperCollins, “would collectively control more than two-thirds of this market, leaving hundreds of authors with fewer alternatives and less leverage.” PRH attacks this charge on several levels and begins by calling the theory of a “top-selling” category “fiction,” noting that the government doesn’t even identify what size of an advance it is referring to. “The publishing industry does not divide the market for book rights into distinct categories based on the author’s compensation for the book,” PRH’s lawyers said.” “The royalty advance for a proposed book is driven mainly by the reader demand a particular editor anticipates for that particular book.”

The network continues to operate smoothly with the busiest mailing and shipping week fast approaching. Between Nov. 25 and Dec. 8, the Postal Service accepted 4.9 billion mail and packages for delivery. Overall, heading into the busiest mailing and shipping week, average days to deliver a mailpiece was 2.7 days. First quarter-to-date service performance scores covering the period Oct. 1 through Dec. 3 included: *First-Class Mail: 90.1 percent of First-Class Mail delivered on time against the USPS service standard, an improvement of 2.4 percentage points from the fourth quarter. *Marketing Mail: 92.2 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fourth quarter. *Periodicals: 82.6 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fourth quarter.

Costco Wholesale Corporation announced its operating results for the first quarter (twelve weeks) of fiscal 2022, ended November 21, 2021. Net sales for the first quarter increased 16.7 percent, to $49.42 billion from $42.35 billion last year. Net income for the quarter was $1,324 million, $2.98 per diluted share, compared to $1,166 million, $2.62 per diluted share, last year. This year included a tax benefit of $91 million, $0.21 per diluted share, related to stock-based compensation, and a write-off of certain information technology assets of $118 million pre-tax, $0.20 per diluted share. Last year included tax benefits of $145 million, $0.33 per diluted share, and incremental expenses for COVID-19 premium wages of $212 million pre-tax, $0.35 per diluted share.

The Postal Regulatory Commission announced today that Michael M. Kubayanda has returned to the agency as chairman. After being re-nominated by President Joseph R. Biden and unanimously confirmed by the U.S. Senate, Chairman Kubayanda was sworn back into office today, December 9, 2021, to serve a term through November 22, 2026. “I am humbled and honored to have the opportunity to continue to work alongside my fellow commissioners and the talented staff of the Commission. The Commission’s work is fundamental at a time of great challenge and opportunity for the Nation’s mail system,” said Chairman Kubayanda. “I would especially like to thank Vice Chairwoman Poling for her exceptional leadership in handling the Commission’s administrative responsibilities during my temporary absence.”

Adobe announced the latest online inflation data for the month of November 2021. Online prices hit a record highat a 3.5%year-over-year (YoY) increase while prices are down 2% month-over-month (MoM) due to holiday discounts. This is the highest YoY increase since Adobe first began tracking the digital economy in 2014, and it marks the 18th consecutive month of YoY online inflation. Apparel was a standout category with prices up 17.3% YoY and down just 0.4% MoM, reaching a record high of inflation. One dollar out of every four dollars* is now spent online in the U.S., making the digital economy a significant component of the overall economy. The Adobe Digital Price Index (DPI) provides the most comprehensive view into how much consumers are paying for goods online. The DPI covers more than 100 million products in the U.S. and is modeled after the Consumer Price Index issued by the U.S. Bureau of Labor Statistics.

Total revenues across all categories for October 2021 were up 23.1% as compared to October 2020, coming in at $1.4 billion. Year to date revenues were up 13.7%, at $13.1 billion for the first ten months of the year. Trade (Consumer Books) sales were up 16.8% in October, coming in at $1.1 billion. Religious press revenues were up 29.4% in October, coming in at $71.3 million. During October of 2021 Education revenues were $284.4 million, up 62.4% compared with October of 2020. Professional Books, including business, medical, law, technical and scientific, were up 5.3% during the month, coming in at $29.5 million.

Learning technology company HMH announced that the South Carolina Department of Education (SCDE) has approved HMH Into Reading™ as a curriculum option for the K-5 Palmetto Literacy Project (PLP) Schools. The K–5 Palmetto Literacy Project schools are a group of 265 schools across the state with a special focus on ensuring all students are reading on grade level. PLP schools will have the ability to purchase the recommended literacy programs using Elementary and Secondary School Emergency Relief (ESSER) funds to implement in 2022. The PLP review committee found that Into Reading is grounded in science of reading research and shows strong alignment to the five essential science of reading concepts, including phonemic awareness, phonics, fluency, vocabulary and comprehension. The review also showed that Into Reading’s instructional design aligns with Scarborough’s Reading Rope and has explicit, research-based foundational skills instruction that integrate listening, speaking, reading and writing.

*Research Publishing & Platforms rose 9% as reported and at constant currency and 4% excluding acquisitions, driven by strong growth in open access, corporate solutions, and research platforms. *Academic & Professional Learning grew 4% as reported and 3% at constant currency, driven by strong recovery in Professional Learning from prior-year COVID lockdown impacts. This more than offset a decline in Education Publishing due to softer US enrollment and some easing of prior-year COVID-related tailwinds in content and courseware. *Education Services increased 17% as reported and 15% at constant currency, driven by 3% growth in University Services (formerly OPM) and strong double-digit growth in Talent Development (formerly mthree). *GAAP EPS was $0.99 as compared to $1.22 in the prior year period, which included a $0.25 discrete tax benefit related to the Coronavirus Aid, Relief, and Economic Security Act (CARES ACT).

First quarter-to-date service performance scores covering the period Oct. 1 through Nov. 26 included: *First-Class Mail: 91.1 percent of First-Class Mail delivered on time against the USPS service standard, an improvement of 2.6 percentage points from the fourth quarter. *Marketing Mail: 92.4 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fourth quarter. *Periodicals: 83.4 percent of Periodicals delivered on time against the USPS service standard, an improvement of .6 percentage points from the fourth quarter. The Postal Service anticipates that between 850 million and 950 million packages will be delivered for the holidays. The total number of letters, cards and packages processed and delivered between Thanksgiving and New Year’s Day is estimated to be more than 12 billion.

A new survey commissioned by Stora Enso on post-pandemic work and printing habits polled 3,400 workplace consumers across Sweden, UK, France, Netherlands, and Germany, on how they feel about printing and what they want from their office paper. The survey delivered some surprising insights, and some not so surprising. During 2020 and early 2021, the pandemic-driven shift to stay-at-home work naturally brought a dip in demand for office paper, with people on average printing 32 per cent more at the office than at home. Now with the economic recovery – 35 per cent of respondents having already returned to their office and a further 51 per cent expecting to return soon – the good news for the industry is that back to the office will also mean back to print. Stora Enso’s Jonathan Bakewell, VP, Head of Segment Office and Book Papers, says: “This increase in printer paper demand, marked by a return to the office, has been hoped for, but these results reaffirm it.”

For the Third Quarter of Fiscal 2021: *Net sales increased 28.6% to $2.0 billion compared to $1.6 billion in the third quarter of fiscal 2020 due to the favorable impact from stronger consumer confidence and fewer COVID-19 restrictions compared to the third quarter of fiscal 2020. *Comparable sales (sales for stores open at least 14 months, including stores temporarily closed due to COVID-19, and e-commerce sales) increased 25.8%. *Gross profit increased to $789.5 million compared to $545.5 million in the third quarter of fiscal 2020. *Operating income increased to $284.2 million, or 14.2% of net sales, compared to $101.3 million, or 6.5% of net sales, in the third quarter of fiscal 2020.

*Total net sales were $206.1 million, an increase of $65.8 million or 46.9%, compared to $140.3 million last year. -Net sales from physical stores were $165.3 million, an increase of $60.7 million or 58.1%, compared to $104.6 million last year. -Net sales from e-commerce were $40.8 million, an increase of $5.1 million or 14.3%, compared to $35.7 million last year. E-commerce net sales represented 19.8% of total net sales compared to 25.5% of total net sales last year. -Total comparable net sales for the third quarter of fiscal 2021 compared to the pre-pandemic third quarter of fiscal 2019 increased by 27.4%. *Gross profit was $76.7 million, or 37.2% of net sales, a record in the Company's history as a public company, compared to $40.7 million, or 29.0% of net sales, last year. *Operating income improved to $29.0 million, or 14.1% of net sales, compared to $3.5 million, or 2.5% of net sales, primarily due to the significant increase in net sales. *Net income improved to $20.8 million, or $0.66 per diluted share, which are third quarter records for the Company as a public company, compared to $2.1 million, or $0.07 per diluted share, last year.

Costco Wholesale Corporation reported net sales of $18.13 billion for the retail month of November, the four weeks ended November 28, 2021, an increase of 15.7 percent from $15.67 billion last year. For the twelve-week first quarter ended November 21, 2021, the Company reported net sales of $49.42 billion, an increase of 16.7 percent from $42.35 billion last year. For the thirteen weeks ended November 28, 2021, the Company reported net sales of $54.10 billion, an increase of 16.8 percent from $46.33 billion last year.

IAC company Dotdash announced the completion of its acquisition of Meredith Holdings Corp., owner of world-class brands such as PEOPLE, Better Homes & Gardens, FOOD & WINE, Allrecipes, Southern Living, InStyle and REAL SIMPLE, in an all cash transaction at a purchase price of $42.18 per share. The new Dotdash Meredith combines celebrated and iconic brands with digital DNA to create America’s largest digital and print publisher—a top 10 internet property[1] able to deliver intent-driven content and experiences at scale. The company, headquartered in New York City and led by CEO Neil Vogel, will be its own reporting segment within IAC. “Today marks the start of a big new opportunity at IAC—conceived by the ambitious minds of Neil Vogel and the Dotdash team and made possible in collaboration with our talented new colleagues from Meredith—to define a new future in publishing,” said Joey Levin, CEO of IAC. “Dotdash Meredith has a bright future ahead.”

Before the era of online shopping, the department store Sears published its first holiday catalog in 1934. It started a tradition of kids circling pictures of toys they wanted from Santa and had adults bookmarking jewelry, appliances and more gift ideas. The nostalgic trend is being kept alive after Amazon began sending out its own toy catalogue in 2018 and is bringing it back this year. NBC’s Harry Smith reports in this week’s Sunday Spotlight. more at: https://www.today.com/video/holiday-store-catalogs-are-returning-reviving-a-classic-tradition-127345733612

As the busiest mailing and shipping season begins, the United States Postal Service reported new service delivery performance metrics showing strong service performance for First-Class Mail (91.4 percent) and Marketing Mail (92.4 percent). Service performance for Periodicals continued to trend above 82 percent for the first seven weeks of the fiscal first quarter. First quarter-to-date service performance scores covering the period Oct. 1 through Nov. 19 included: *First-Class Mail: 91.4 percent of First-Class Mail delivered on time against the USPS service standard, an improvement of 2.6 percentage points from the fourth quarter. *Marketing Mail: 92.4 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fourth quarter. *Periodicals: 83.2 percent of Periodicals delivered on time against the USPS service standard, an improvement of .5 percentage points from the fourth quarter.

Nordstrom, Inc. reported third quarter net earnings of $64 million or $0.39 per diluted share, with earnings before interest and taxes ("EBIT") of $127 million. For the third quarter ended October 30, 2021, net sales increased 18 percent versus the same period in fiscal 2020 and decreased 1 percent versus the same period in fiscal 2019. The timing of this year's Anniversary Sale, with approximately one week falling into the third quarter of 2021, had a positive impact of approximately 200 basis points on net sales compared with fiscal 2019.

GAP INC. reported a third quarter fiscal year 2021 diluted loss per share of $0.40. Excluding fees associated with restructuring the company’s long-term debt and net charges related to strategic changes in its European operating model, adjusted diluted earnings per share were $0.27. Additional information regarding adjusted diluted earnings per share, which is a non-GAAP financial measure, is provided at the end of this press release along with a reconciliation of this measure from the most directly comparable GAAP financial measure. The company’s third quarter fiscal year 2021 net sales of $3.9 billion were down 1% compared to 2019 with supply chain disruption driving an estimated 8 percentage point negative impact due to constrained inventory.1 The company remains focused on digital dominance through investing in its ecommerce platform, strategically closing unprofitable stores and partnering to amplify in international markets. Online sales grew 48% compared to the third quarter of 2019 and represented 38% of the total business, even as store traffic continues to rebound. Investments in technology are driving an enhanced online experience as the company accelerates its digital strategy. Third quarter comparable sales were up 5% versus 2019. The comparable sales calculation reflects online sales and comparable sales days in stores that were open.

The Association of American Publishers released its StatShot report for September 2021 reflecting reported revenue for all tracked categories, including Trade (Consumer Books), K-12 Instructional Materials, Higher Education Course Materials, and Professional Publishing. Total revenues across all categories for September 2021 were up 2.0% as compared to September 2020, coming in at $1.7 billion. Year to date revenues were up 12.4%, at $11.6 billion for the first nine months of the year. Trade (Consumer Books) sales were up 0.3% in September, coming in at $938.5 million.

The Postal Regulatory Commission today announced that effective immediately, Vice Chairwoman Ashley E. Poling will assume the administrative responsibilities of the agency under 39 CFR 3000.110(b) which states, “…In case of a vacancy in the Office of the Chairman of the Commission, or in the absence or inability of the Chairman to serve, the Vice Chairman, unless otherwise directed by the Chairman, shall have the administrative responsibilities and duties of the Chairman during the period of vacancy, absence, or inability.” Michael M. Kubayanda’s term as Commissioner expired 1 year ago, on November 22, 2020. A Commissioner may continue to serve after the expiration of his or her term until a successor is confirmed, except that a Commissioner may not continue to serve for more than 1 year after the date of expiration, a period commonly known as the “holdover year.” President Joseph R. Biden, Jr. designated Commissioner Kubayanda Chairman of the Commission in January 2021, and he continued to serve in that position until his holdover year ended on November 22, 2021. He is awaiting confirmation by the U.S. Senate after being re-nominated by President Biden.

Urban Outfitters, Inc. announced net income of $89 million and record third quarter earnings per diluted share of $0.89 for the three months ended October 31, 2021. For the nine months ended October 31, 2021, net income was $270 million and record first nine-month period earnings per diluted share were $2.71. Total Company net sales for the three months ended October 31, 2021, were a record $1.13 billion. Net sales increased 14.6% compared to the three months ended October 31, 2019. Comparable Retail segment net sales increased 14%, driven by strong double-digit growth in digital channel sales, partially offset by mid-single-digit negative retail store sales primarily due to reduced store traffic. By brand, comparable Retail segment net sales increased 55% at the Free People Group, 9% at the Anthropologie Group and 7% at Urban Outfitters. Total Retail segment net sales increased 16%. Wholesale segment net sales decreased 15% primarily from reducing the Free People Group’s sales to promotional wholesale custom ers. For the nine months ended October 31, 2021, total Company net sales increased 14.3% compared to the nine months ended October 31, 2019. Comparable Retail segment net sales increased 16%, driven by strong double-digit growth in digital channel sales, partially offset by low double-digit negative retail store sales due to reduced store traffic resulting from temporary store closures and occupancy restrictions in Europe and Canada. Wholesale segment net sales decreased 23% primarily from reducing the Free People Group’s sales to promotional wholesale customers.

Domestic revenue of $10.99 billion increased 1.2% versus last year. The increase was primarily driven by comparable sales growth of 2.0%, which was partially offset by the loss of revenue from permanent store closures in the past year. Domestic GAAP SG&A was $1.96 billion, or 17.9% of revenue, versus $1.95 billion, or 18.0% of revenue, last year. International revenue of $925 million decreased 7.8% versus last year. This decrease was primarily driven by the loss of revenue from exiting Mexico and a comparable sales decline of 3.0% in Canada. These items were partially offset by the benefit of approximately 450 basis points of favorable foreign currency exchange rates. International GAAP gross profit rate was 25.0% versus 19.0% last year. On a non-GAAP basis, the gross profit rate was 25.0% versus 22.6% last year.

A summary of results for the third quarter ended October 30, 2021 as compared to the third quarter ended October 31, 2020: *Net sales of $905 million, up 10% as compared to last year and up 5% as compared to pre-COVID 2019 third quarter net sales. *Digital net sales of $413 million increased 8% as compared to last year and increased 55% as compared to pre-COVID 2019 third quarter digital net sales. *Gross profit rate of 63.7%, down approximately 30 basis points as compared to last year and up approximately 360 basis points as compared to 2019. The year-over-year decline is driven by approximately 300 basis points of higher average unit cost from freight inflation and efforts to offset supply chain issues, almost fully offset by higher average unit retail on lower promotions. *Operating income of $73 million and $79 million on a reported and adjusted non-GAAP basis, respectively, as compared to operating income of $59 million and $65 million last year, on a reported and adjusted non-GAAP basis, respectively.

As the Postal Service enters the busiest weeks of the year for mailing and shipping, the agency reported new service delivery performance scores that showed improvements for First-Class Mail and Periodicals, and steady performance for Marketing Mail for the first six weeks of the fiscal first quarter. First quarter-to-date service performance scores covering the period Oct. 1 through Nov. 12 included: *First-Class Mail: 91.1 percent of First-Class Mail delivered on time against the USPS service standard, an improvement of 2.6 percentage points from the fourth quarter. *Marketing Mail: 92.4 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fourth quarter. *Periodicals: 83.2 percent of Periodicals delivered on time against the USPS service standard, an improvement of .5 percentage points from the fourth quarter.

Staying connected in the digital world relies more and more on having the latest and greatest devices at your disposal. Consumers who do not, or cannot afford to keep up with the most current technology, are increasingly finding themselves left as roadkill on the digital superhighway. Phones, tablets, computers and other connected devices have shorter and shorter lifespans, and the factors conspiring to render them obsolete are numerous. The latest killer stalking millions of devices more than a few years old is the termination of 3G cellular networks, which is set to begin in January 2022. One of the growing pains to get to faster, better 5G networks deployed nationwide involves the major carriers – AT&T, T-Mobile and Verizon – decommissioning their older networks in order to repurpose critical spectrum. The sunsetting of 3G will start happening early in the new year, with each company operating on its own schedules, which will also impact smaller carriers that rely on their networks.

The Occupational Safety and Health Administration said it is suspending enforcement of the Biden administration’s COVID-19 vaccine mandate for large private businesses “pending future developments.” The move comes after the U.S. Court of Appeals for the Fifth Circuit temporarily halted the rule, saying that that it “grossly exceeds” the authority of the agency that issued it.” "The court ordered that OSHA 'take no steps to implement or enforce' the ETS [Emergency Temporary Standard] 'until further court order.' While OSHA remains confident in its authority to protect workers in emergencies, OSHA has suspended activities related to the implementation and enforcement of the ETS pending future developments in the litigation,” OSHA stated.

A federal appeals court on Friday upheld the major rate hikes imposed in August by the U.S. Postal Service, saying the Postal Regulatory Commission’s order underlying the increases was neither arbitrary and capricious, nor did it exceed the Commission’s statutory authority. The decision, by the U.S. Court of Appeals for the District of Columbia Circuit, preserves a 6.8% increase for first-class mail and an 8.8% increase for package services — hikes of unprecedented size in recent years. The increases came after the PRC late last year finished an overhaul of the existing rate-setting system, which it had deemed inadequate. The new rate system ties price caps to what the PRC identified as the USPS’ most significant cost drivers: fewer pieces of mail going to more addresses and benefits payments the agency is required to make for future retirees.

*Third quarter net sales and earnings exceed expectations and company raises full year 2021 financial outlook *Third quarter net sales increase 15.5%; third quarter comparable sales increase 14.7% *Record third quarter diluted earnings per share of $1.65 and company raises full year 2021 guidance to $7.10 to $7.30 *Repurchased $506 million of shares in the quarter and now plans to repurchase $1.3 billion of shares in 2021 *Ended the quarter in a strong financial position with $1.9 billion in cash

*Comparable sales up 37.2% on an owned basis and up 35.6% on an owned-plus-licensed basis versus 2020; up 8.9% and up 8.7%, respectively, versus 2019 *Diluted EPS of $0.76 and Adjusted diluted EPS of $1.23 *Repurchased $300 million of shares, repaid $1.6 billion in debt ahead of schedule and paid $46 million in dividends *Added 4.4 million new customers into Macy’s brand, a 28% increase over 2019

*Third quarter comparable sales grew 12.7 percent, on top of 20.7 percent growth last year. -Comparable sales growth was driven entirely by traffic. -Store comparable sales increased 9.7 percent, on top of 9.9 percent growth last year. -Digital comparable sales grew 29 percent, following growth of 155 percent last year. -Same-day services (Order Pickup, Drive Up and Shipt) grew nearly 60 percent this year, on top of 200 percent last year. -More than 95 percent of Target's third quarter sales were fulfilled by its stores. *All five core merchandise categories delivered double-digit comparable sales growth, on top of strong sales performance last year.

Bookstore sales posted another huge gain in September, with sales jumping 42.1%, to $881 million, over 2020, during which September sales were $620 million, according to estimates from the U.S. Census Bureau. While sales growth has slowed since spring, monthly increases remain substantially over those of the 2020 slump, when many bookstores were shut to in-store shopping for much of the year. For the entire retail segment, sales were up 14.7% in September. Sales are up 20.2% in the year to date.

The Home Depot® reported sales of $36.8 billion for the third quarter of fiscal 2021, an increase of $3.3 billion, or 9.8 percent from the third quarter of fiscal 2020. Comparable sales for the third quarter of fiscal 2021 increased 6.1 percent, and comparable sales in the U.S. increased 5.5 percent. Net earnings for the third quarter of fiscal 2021 were $4.1 billion, or $3.92 per diluted share, compared with net earnings of $3.4 billion, or $3.18 per diluted share, in the same period of fiscal 2020. For the third quarter of fiscal 2021, diluted earnings per share increased 23.3 percent from the same period in the prior year.

• Walmart U.S. Q3 comp sales1 grew 9.2%; 15.6% two-year stack; Comp transactions up 5.7% • Q3 FY22 GAAP EPS of $1.11; Adjusted EPS2,3 of $1.45 • Company expects Walmart U.S. Q4 comp sales of around 5%; Raises EPS guidance for third consecutive quarter • Walmart U.S. inventory up 11.5% ahead of holidays

Meredith Corporation announced that its pending acquisitions by Gray Television Inc. and IAC's Dotdash Media Inc. received key regulatory approvals. First, the Federal Communications Commission has approved Gray's acquisition of Meredith Corp., and Meredith will now seek the transaction's approval at a November 30, 2021, special shareholder meeting. Immediately prior to the Gray acquisition, Meredith will spin its digital, magazine, MNI, PEOPLE TV, and corporate operations out to shareholders as a new company, Meredith Holdings Corp., that Dotdash has agreed to acquire. Additionally, Meredith announced the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976 for Meredith Holdings' acquisition by Dotdash expired on November 12, 2021.

The U.S. Postal Service reported service delivery performance scores showing First-Class Mail and Periodicals continuing to climb through the first five weeks of the fiscal first quarter. With fiscal year 2021 fourth quarter and fiscal year 2022 first quarter-to-date service performance scores above 92 percent, the Postal Service enters the holiday shipping season in the best service performance condition ever measured for Marketing Mail. First quarter-to-date service performance scores covering the period Oct. 1 through Nov. 5 included: *First-Class Mail: 91.2 percent of First-Class Mail delivered on time against the USPS service standard, an improvement of 3.2 percentage points from the fourth quarter. *Marketing Mail: 92.3 percent of Marketing Mail delivered on time against the USPS service standard, a slight decrease of .3 percentage points from the fourth quarter. *Periodicals: 82.9 percent of Periodicals delivered on time against the USPS service standard, an improvement of .8 percentage points from the fourth quarter.

The U.S. Postal Service filed notice with the Postal Regulatory Commission (PRC) today of price changes for Shipping Services to take effect Jan. 9, 2022. The proposed prices, approved by the Postal Service Governors, would raise Shipping Services product prices approximately 3.1 percent for Priority Mail service, and 3.1 percent for Priority Mail Express service. Shipping Services price adjustments vary by product. Although Mailing Services price increases are based on the consumer price index, Shipping Services prices are primarily adjusted according to market conditions. The Governors believe these new rates will keep the Postal Service competitive while providing the agency with needed revenue. If favorably reviewed by the PRC, the new prices will include an increase in the price of a Small Flat-Rate Box to $9.45. The Medium Flat-Rate Box would increase to $16.10, the Large Flat-Rate Box would decrease to $21.50 and the price of the APO/FPO Large Flat-Rate Box would decrease to $20.00. Regular Flat-Rate Envelopes, Legal Flat-Rate Envelopes, and Padded Flat-Rate Envelopes would increase to $8.95, $9.25, and $9.65 respectively.

For the Three Months Ended October 2, 2021 -Net sales increased 23% to $362.6 million, compared to $294.6 million during the same period last year. -Gross profit increased 19% to $207.0 million, or 57.1% of net sales, compared to $174.0 million, or 59.1% of net sales, in the third quarter of 2020. The 200 basis point decrease in gross margin was primarily driven by higher inbound freight rates and the unfavorable impact of the non-renewal of the Global System of Preferences (“GSP”) program on import duties, partially offset by product cost improvements and all other impacts. -Operating income decreased 2% to $68.7 million, or 19.0% of net sales, compared to $70.1 million, or 23.8% of net sales, during the prior year quarter due to the aforementioned lower spending levels in 2020.

The Association of American Publishers (AAP) today released its StatShot report for August 2021 reflecting reported revenue for all tracked categories, including Trade (Consumer Books), K-12 Instructional Materials, Higher Education Course Materials, and Professional Publishing. Total revenues across all categories for August 2021 were up 9.8% as compared to August 2020, coming in at $1.95 billion. Year to date revenues were up 14.4%, at $9.9 billion for the first eight months of the year.

Consumer expectations regarding personalized content and experiences have significantly increased in recent years -- as have their expectations for immediacy and choice. Consumers expect personalized experiences, and marketers seek meaningful customer interactions. At the same time, according to the 2021 Edelman Trust Barometer, trust and data privacy are becoming a major consideration. Addressing this new aspect of competition, Bertelsmann is leveraging data and AI to deliver personalized, brand-safe content as well as tailored and efficient learning experiences, ultimately lowering costs to consumers and business partners alike. This follows a strategic mandate by Bertelsmann’s Executive Board to magnify efforts in technology and data-driven business models, setting a clear agenda as Tech & Data Alliance to drive partnerships, build platforms and connect people and skills throughout the group. Microsoft, with its deep expertise in cloud-based computing, artificial intelligence (AI), and platform development, will support Bertelsmann to power this new generation of data-driven models, bringing even better value, experiences, and products to Bertelsmann’s customers, both in business-to-business as well as consumer-facing offerings.

If your business prints catalogs, you are keenly aware of the paper shortages and subsequent price increases we’ve experienced so far this year. It’s not over, the mills continue to be on “allocation” through the end of this year and likely into next. What does allocation mean anyway? Simply put, it means the demand for paper is at the mills’ capacity, so they are allocating the amounts that buyers (like printers, paper brokers and catalogers) can purchase. But more importantly, what can you do about it? Get ahead of the pack by placing your orders much, much earlier than you have in the past. click read more below for details

First quarter-to-date service performance scores covering the period Oct. 1 through Oct. 29 included: *First-Class Mail: 91.1 percent of First-Class Mail delivered on time against the USPS service standard, an improvement of 3.1 percentage points from the fourth quarter. *Marketing Mail: 92.2 percent of Marketing Mail delivered on time against the USPS service standard, a slight decrease of .3 percentage points from the fourth quarter. *Periodicals: 83.3 percent of Periodicals delivered on time against the USPS service standard, an improvement of 1.2 percentage points from the fourth quarter.

Third Quarter 2021 Financial Highlights: • Total revenues of $800.2 million decreased 1.8% compared to the prior year quarter ◦ Same store revenues increased 0.9% compared to the third quarter of 2020 • Total digital revenues were $265.0 million or 33.1% of total revenues, up 17.8% over the prior year period on a same store basis • Net income attributable to Gannett of $14.7 million • Net cash flow provided by operating activities of $40.8 million • Free cash flow of $29.3 million

Sweeping new rules governing debt collection practices in the U.S. will go into effect on November 30. Unfortunately, many of the very serious concerns about the use of electronic communications for debt collection raised by citizens, cybersecurity experts and consumer advocacy groups including Keep Me Posted (KMP) were effectively ignored by the Consumer Financial Protection Bureau (CFPB), the federal agency charged with making sure banks, lenders and other financial companies treat consumers fairly. The widespread impacts of CFPB’s new rules cannot be underestimated: Nearly 70 million Americans now have a debt in collection. That staggering number translates to nearly one in three adults with a credit report being pursued during the pandemic, according to analysis from the Urban Institute. What’s more, even consumers with debts that are beyond the statute of limitations can still be pursued under the rules. Even those with no credit worries need to beware: Scammers are already using unsolicited electronic communications to perpetrate fraud, using debt collection as a pretext. click read more below for more information

Fiscal 2022 First Quarter Key Financial Highlights: *Revenues were $2.50 billion, an 18% increase compared to $2.12 billion in the prior year, driven by growth across key segments *Net income of $267 million compared to $47 million in the prior year *Total Segment EBITDA was $410 million compared to $268 million in the prior year *Reported EPS were $0.33 compared to $0.06 in the prior year – Adjusted EPS were $0.23 compared to $0.08 in the prior year *Digital Real Estate Services segment revenues grew 47%, driven primarily by strong yield and demand at both REA Group and Move, operator of realtor.com® *Dow Jones saw its highest first quarter revenue and profitability since its acquisition *Book Publishing segment revenues grew 19%, benefiting from the HMH acquisition and continued strong consumption patterns *Subscription Video Services Segment EBITDA grew 46% as Foxtel’s streaming products reached approximately 2.1 million paid subscribers, up 69% compared to the prior year *News Media segment revenues grew 18%, benefiting from the rebound in the advertising market, strong digital subscriber gains and new content licensing revenues from recent news payment agreements with major tech platforms *Announced a $1 billion stock repurchase program and the termination of the Stockholder Rights Agreement

The supply crunch that has dogged the global shipping industry could worsen before it gets better, with new challenges ranging from crew retention to wage inflation. That’s a warning from executives at Wah Kwong Maritime Transport, a privately owned shipping company based in Hong Kong. They caution that contrasting approaches to containing the virus continues to disrupt the turnover and repatriation of seafarers landing at ports around the world. “There’s a real squeeze that we’re starting to see in terms of the disappearing applications for seafarers,” William Fairclough, managing director at Wah Kwong, said in an interview. “For certain types of ships, it may become very difficult to actually find the crew and you may get delays because of that. That’s conceivable, it’s never been the case before.”

Costco Wholesale Corporation reported net sales of $16.47 billion for the retail month of October, the four weeks ended October 31, 2021, an increase of 19.2 percent from $13.82 billion last year. For the nine weeks ended October 31, 2021, the Company reported net sales of $35.97 billion, an increase of 17.3 percent from $30.66 billion last year.

Highlights from the divisions: RTL Group recorded 3.4 million paying subscribers for its streaming services (the paid offerings of RTL+ in Germany and Videoland in the Netherlands), an increase of 91 percent compared to the end of September 2020. Streaming revenues of RTL+ and Videoland increased by 31 percent compared to the same period last year. Penguin Random House placed numerous new titles on the New York Times bestseller lists in the first nine months of 2021, including “The Hill We Climb” and “Change Sings” by Amanda Gorman, “The President’s Daughter” by Bill Clinton and James Patterson, “Harlem Shuffle” by Colson Whitehead, and “How To Avoid A Climate Disaster” by Bill Gates. Gruner + Jahr and RTL Deutschland announced in August that they will be merging to form a new national cross-media champion. The new company launches at the beginning of next year. BMG continued with its successful repertoire strategy, signing global superstars including Bryan Adams, Santana, Soft Cell and Johnny Marr. In October, BMG announced the acquisition of an extensive portfolio of rights from Tina Turner, the Queen of Rock ‘n’ Roll. Arvato again saw a very dynamic development, particularly in the e-commerce, IT/tech and healthcare sectors. Beyond this, the private placement of shares in the global customer experience company Majorel on Euronext Amsterdam was a success.

Highlights from the quarter include: *Raising FY 2021 billings2 guidance to $1,075-$1,095 million, unlevered free cash flow guidance to 17-19% of billings and Annualized Recurring Revenue (ARR) 2 guidance to 12-15% of billings *Strong billings growth across the Company of 22% in Q3 and 21% YTD as demand for teaching and learning solutions continued as students returned to classrooms this fall and teachers further assessed instructional needs for the remainder of the school year *ARR2 growth accelerated to 123% bringing ARR to $120 million, or 11% of trailing twelve-month billings. Net Retention Rate (NRR)2 was 153% *Trailing twelve-month free cash flow3 of $137 million, an improvement of $36 million compared to the second quarter of 2021, reflecting strong operating leverage and the benefits of 2020 actions to align HMH’s cost structure with its digital first, connected strategy

The New York Times Company announced third quarter 2021 diluted earnings per share from continuing operations of $.32 compared with $.20 in the same period of 2020. Adjusted diluted earnings per share from continuing operations (defined below) was $.23 in the third quarter of 2021 compared with $.22 in the third quarter of 2020. Operating profit increased to $49.0 million in the third quarter of 2021 from $39.6 million in the same period of 2020 and adjusted operating profit (defined below) increased to $65.1 million from $56.5 million in the prior year, as higher subscription, advertising and other revenues more than offset higher costs.

Third Quarter 2021 Summary(1)(2)(4) *Total reported sales of $2.2 billion, down 7% versus last year, largely driven by 160 fewer retail locations in service compared to last year and lower demand year-over-year in certain product categories related to the COVID-19 pandemic *GAAP operating income of $104 million and net income from continuing operations of $73 million, or $1.33 per diluted share, versus $102 million and $34 million, or $0.63 per diluted share, respectively in the prior year *Operating cash flow from continuing operations of $121 million and adjusted free cash flow of $123 million, versus $256 million and $259 million, respectively in the prior year *$1.7 billion of total available liquidity including $753 million in cash and cash equivalents

America’s largest magazines retained 95% of their circulation through the Covid-19 crisis, Press Gazette research suggests. Strong print subscription bases and growing digital issue readership have helped the likes of Vanity Fair, Vogue and the New Yorker grow over the past year. Our analysis of Alliance for Audited Media (AAM) figures suggests that magazines have fared better than newspapers through the pandemic. Press Gazette’s ranking of the 50 biggest US magazines by circulation shows that print remains the sector’s dominant medium, despite subscription and single-copy sales falling in recent years.

Hearst announced it has agreed to acquire an 80% stake in leading connected vehicle solution provider Noregon Systems, Inc. The announcement was made jointly by Hearst President and Chief Executive Officer Steven R. Swartz and Noregon Systems founder and Chief Executive Officer Bill Hathaway. Hathaway will retain a 20% ownership stake in Noregon and continue to serve as its CEO. Terms were not disclosed and the transaction, subject to regulatory approval, is expected to close by end of Q4. “Bill Hathaway and his colleagues have built a great company that plays a vital and growing role in keeping the trucks on the road that power our economy,” said Swartz. “We look forward to partnering with Bill and his team and to welcoming them all to Hearst.” Noregon was founded by Hathaway in 1993 as a custom development solutions provider for leading OE manufacturers in the trucking industry. In 2007, the company launched its flagship commercial product, JPRO — an all-makes commercial vehicle diagnostic application. Since then, the company has continued to innovate beyond JPRO, offering a variety of connected vehicle products and services to the medium and heavy-duty truck industry. Currently, Noregon serves more than 15,000 customers in the U.S. and Canada.

In separate motions filed last month, Amazon and the Big Five publishers argued that a lawsuit accusing them of a conspiracy to fix e-book prices was “illogical” and should be dismissed. But in a lengthy opposition brief filed this week, lawyers for a potential consumer class portrayed their case as the second act of the Apple e-books case, and insisted there is more than enough evidence for the case to proceed. In the 56-page filing, lawyers for the plaintiffs insist that the existence of Most Favored Nation clauses in the Amazon contracts of the Big Five publishers—the crux of the plaintiffs' case—is sufficient to allow the case to proceed, especially given that the MFN is the same mechanism five major publishers and Apple used to eliminate price competition from the consumer e-book market in 2010.

The Association of American Publishers (AAP) today released its StatShot report for July 2021 reflecting reported revenue for all tracked categories, including Trade (Consumer Books), K-12 Instructional Materials, Higher Education Course Materials, and Professional Publishing. Total revenues across all categories for July 2021 were up 6.9% as compared to July 2020, coming in at $1.65 billion. Year to date revenues were up 15.6%, at $8.0 billion for the first seven months of the year. Trade (Consumer Books) sales were up 9.7% in July, coming in at $750.7 million, and up 15.8% year to date, with $4.9 billion in revenue. more at source: https://publishers.org/news/aap-july-2021-statshot-report-publishing-industry-up-6-9-for-month-and-15-6-year-to-date/

Daily sales for the quarter increased 11.7% compared to the third quarter of 2020 with the same number of selling days. On an organic, constant currency basis, which excludes revenues from the divested China business from the prior year results, daily sales increased 11.9% as compared to the third quarter of 2020. Foreign exchange contributed a 0.1% favorable impact during the third quarter of 2021 compared to the third quarter of 2020. Gross margin for the third quarter of 2021 was 37.1%, a 145 basis point increase over the prior year quarter driven by solid margin expansion in both segments. Reported and adjusted operating earnings for the third quarter of 2021 of $438 million were up 16% on a reported basis, and up 17% on an adjusted basis, versus the third quarter of 2020. Net cash provided by operating activities was $161 million and $311 million for the three months ended September 30, 2021 and 2020, respectively.

First quarter-to-date service performance scores covering the period Oct. 1 through Oct. 22 included: *First-Class Mail: 91.0 percent of First-Class Mail delivered on time against the USPS service standard, an improvement of 3.0 percentage points from the fourth quarter. *Marketing Mail: 92.8 percent of Marketing Mail delivered on time against the USPS service standard, an increase of .2 percentage points from the fourth quarter. *Periodicals: 83.3 percent of Periodicals delivered on time against the USPS service standard, an improvement of 1.2 percentage points from the fourth quarter.

*Operating cash flow decreased 1% to $54.7 billion for the trailing twelve months, compared with $55.3 billion for the trailing twelve months ended September 30, 2020. *Free cash flow decreased to $2.6 billion for the trailing twelve months, compared with $29.5 billion for the trailing twelve months ended September 30, 2020. *Net sales increased 15% to $110.8 billion in the third quarter, compared with $96.1 billion in third quarter 2020. Excluding the $0.5 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 15% compared with third quarter 2020. *Operating income decreased to $4.9 billion in the third quarter, compared with $6.2 billion in third quarter 2020. *Net income decreased to $3.2 billion in the third quarter, or $6.12 per diluted share, compared with $6.3 billion, or $12.37 per diluted share, in third quarter 2020.

Effective December 26, 2021, the published rates for our services will increase. This helps to support ongoing expansion and capability enhancements as we strive to maintain the high service levels you expect from UPS. Below is an overview of our 2022 Rates*. Package - The following changes will be effective December 26, 2021: The rates for UPS® Ground, UPS Air and International services will increase an average net 5.9% The following changes will be effective January 9, 2022: The Peak Surcharges will be renamed Peak/Demand Surcharges; The list of Zip Codes to which Area Surcharges apply will change. See updated Zip Code listings. details at: https://www.ups.com/us/en/shipping/rates-update.page?

Fiscal 2022 first quarter revenues grew 2 percent to $709 million. Looking more closely at the quarter: *Digital revenues grew 24 percent to $200 million. Performance was led by strong 29 percent growth in digital advertising revenues. Meredith continues to benefit from its proprietary technology platform that brings together strong content and trusted brands, unique taxonomy, and first party data. Digital consumer revenues grew 24 percent, with performance driven by Apple News+ and performance marketing via retail partners, including Walmart, Amazon, and Target. *Magazine revenues declined 2 percent to $305 million. Magazine consumer related revenue, which accounted for nearly two-thirds of the segment's revenue, grew 6 percent, driven by newsstand and subscription revenue performance. Magazine advertising revenues declined as expected, due primarily to the food, prescription drug, and beauty categories, which continue to be adversely impacted by current economic conditions including ongoing work-from-home protocols and supply chain disruptions. *Local Media Group revenues declined 7 percent to $209 million. As expected in a non-political year, political spot advertising revenues were lower at $5 million compared to $52 million. Non-political spot advertising revenues grew 24 percent, reflecting a lack of political advertising crowd out, and driven primarily by gaming, professional services, and home categories. Retransmission revenue growth was driven primarily by annual escalations.

Total consolidated revenues increased 9.0 percent to $309.4 million, compared with total consolidated revenues of $283.8 million in the prior year period, reflecting strong ecommerce growth of 10.3 percent including contributions from PersonalizationMall, which the Company acquired on August 3, 2020. Excluding the non-comparable five weeks of contribution from PersonalizationMall in the quarter, total net revenues increased 4.3 percent, compared with the prior year period. Gross profit margin for the quarter was 40.6 percent, a decline of 10 basis points compared with 40.7 percent in the prior year period. Operating expenses as a percent of total revenues, increased 170 basis points to 47.1 percent. Net loss for the quarter was $13.2 million, or ($0.20) per share.

Commenting on the results, Nigel Newton, Chief Executive, said: “Bloomsbury delivered excellent results in the first half with year-on-year revenue growth of 29% to £100.7 million and profit growth of 225% to £12.9 million. These are our highest ever first half sales and profits. These results demonstrate the strength and resilience of our strategy of publishing for both the consumer and academic markets, and our growth of digital revenues. Both divisions had outstanding performances. The Consumer division continued the momentum of last year with 29% revenue growth and a £5.6 million increase in profit before tax and highlighted items to £8.4 million. Bestsellers during the period included Tom Kerridge’s Outdoor Cooking, Piranesi by Susanna Clarke, A Court of Silver Flames by Sarah J. Maas, The Priory of the Orange Tree by Samantha Shannon and The Song of Achilles by Madeline Miller. Since the period end Bloomsbury authors have won two of the most important prizes in the literary world, The Nobel Prize for Literature and The Women’s Prize, which were won by Abdulrazak Gurnah and Susanna Clarke respectively. We congratulate them both. The Non-Consumer division saw 27% growth and a £3.2 million increase in profit before tax and highlighted items to £4.6 million. Bloomsbury Digital Resources grew by 44% in addition to a very strong recovery in print sales, which grew by 34%. The focus on our online academic digital resource strategy means we are well placed to continue to benefit from the accelerated shift by academic institutions to digital products to support hybrid learning.

S&P Global reported third quarter 2021 results with revenue of $2,087 million, an increase of 13% compared to the same period last year, with every segment delivering revenue growth. Net income increased 75% to $797 million and diluted earnings per share increased 75% to $3.30 primarily due to the debt tender premium and fees associated with the senior notes tender offer in the prior period. "The strong global economic growth, elevated M&A activity, strong stock markets, and increased volatility realized in the third quarter created a solid underpinning for our businesses. In this environment, S&P Global delivered an exceptional quarter of financial results as we continue to provide our customers with the essential intelligence they need to navigate rapidly changing markets," said Douglas L. Peterson, President and Chief Executive Officer of S&P Global. "After delivering very strong results in a difficult 2020, we expect to meaningfully surpass those results in 2021."

The U.S. Postal Service reported service delivery performance scores for the first two weeks of the fiscal first quarter started in October showing ongoing improvements across First-Class and Periodical mail categories. Quarter-to-date service performance scores covering the period Oct. 1 through Oct. 15 included: *First-Class Mail: 91.2 percent of First-Class Mail delivered on time against the USPS service standard, an improvement of 3.2 percentage points from the fourth quarter. *Marketing Mail: 92.2 percent of Marketing Mail delivered on time against the USPS service standard, a slight decrease of .3 percentage points from the fourth quarter. *Periodicals: 84.3 percent of Periodicals delivered on time against the USPS service standard, an improvement of 2.2 percentage points from the fourth quarter.

The U.S. Postal Service reported service delivery performance scores for the first week of the fiscal first quarter started in October that showed continued gains across all First-Class, Marketing and Periodical mail categories. For the period Oct. 1 through Oct. 8, first-quarter-to-date service performance included: *First-Class Mail: Delivered 91.0 percent of First-Class Mail on time against the USPS service standard, an improvement of 3 percentage points from the fourth quarter. *Marketing Mail: Delivered 92.8 percent of Marketing Mail on time against the USPS service standard, an improvement of .3 percentage points from the third quarter. *Periodicals: Delivered 84.4 percent of Periodicals on time against the USPS service standard, an improvement of 2.3 percentage points from the third quarter.

The print and paper advocacy group, Two Sides, are excited to announce its newest partner member, the enclosing and mailing experts, GB Mail. Set up in 2017 by Joe Ghadami, Gary Leonard-Pepin and Ben Taheri, the Aylesbury based mailing house specialises in fully automated high-speed paperwrap, polywrap and envelope enclosing. Also located on site is GB Mail’s storage and fulfilment department and digital print room housing eight production presses. “Sustainability is a big part of our company ethos at GB Mail and we are constantly at the forefront of testing eco-friendly innovative mailing options. We are proud to have been one of the first mailing houses in the UK to offer paper-wrapping services. This eco-friendly way to wrap your mailing item is fully recyclable and provides the wow factor. As an environmentally aware business, partnering with Two Sides is the natural next step on our sustainable journey.” says Joseph Ghadami, Managing Director at GB Mail.

The U.S. Postal Service (USPS) has decided to temporarily suspend a planned reduction in service level standards for First Class package delivery until after the peak holiday season, a week after the Postal Regulatory Commission which oversees it said the plan “lacked demonstrable evidence.” The proposed changes called for adding 1-2 days to the service level standard for about 31.2% of First Class package volume, while shorting it by about a day for approximately 4.8% percent of the volume, according to the PRC. “In light of the ongoing environment caused by COVID-19 and the rise of the Delta variant affecting our customers, the implementation date for the revised service standards for First-Class Package Service will be announced after the holiday shipping season” the USPS said in a statement.

Fiscal 2021 sales from continuing operations increased 8.6 percent from the year-ago period to $132.5 billion, up 7.5 percent on a constant currency basis1. Operating income from continuing operations in fiscal 2021 increased to $2.3 billion compared with $982 million in the year-ago period. Net earnings from continuing operations were $2.0 billion, compared with $180 million in the year-ago period, reflecting non-cash impairment charges in the year-ago period, strong growth across both segments, and earnings from the company's equity method investment related to Option Care Health.

HH Global would like to extend our warmest congratulations to the winners of the inaugural Profit with Purpose Award at the 2021 World Sustainability Awards today, Smithfield Foods. We are incredibly honoured to have been selected as a finalist for one of these twelve prestigious awards, which honour those who have shown outstanding corporate and social sustainability practices and ultimately encourage other businesses to follow suit. The Profit with Purpose Award commends companies for ensuring business growth is driven by a mission to achieve both social and environmental sustainability, by channeling innovations, focus and profits into these areas.

It looks to be another odd year for holiday celebrations. The biggest question likely on most minds is, do we make merry in person or virtually? No matter your plans, the Postal Service is ready to do its part to handle your special holiday greetings and gifts. But we also need you to do your part, and that is to make sure you get those packages and good wishes to your Post Office location on time. There are plenty of holiday- and winter- themed stamps available to adorn your greeting cards this year. You can find them in our online Postal Store or at any one of our more than 34,000 Post Office locations. As a reminder, on Aug. 29, the cost of a First-Class Forever stamp increased three cents, from 55 cents to 58 cents. There are also temporary price increases in place through Dec. 26, 12:01 a.m., Central time for both retail and business customers for some of our more popular shipping products, which also includes military shipping — Priority Mail Express (PME), Priority Mail (PM), First-Class Package Service (FCPS), Parcel Select, USPS Retail Ground, and Parcel Return Service. International products are unaffected. These temporary rates will keep the Postal Service competitive while providing the agency with the revenue to cover extra costs in anticipation of peak-season volume surges similar to levels experienced in 2020.

On October 1, a critical piece of code used on over 2 billion websites to safeguard security expired. Companies large and small were disrupted. And untold millions of consumers around the globe that do not have the latest and greatest digital devices suddenly could not access the sites they wanted or needed to. The quiet sunsetting of the Let’s Encrypt security certificate is still wreaking havoc because it is the most widely used piece of code authorizing access to secure websites. Consumers are finding that their desktop, mobile, Mac, Windows, Android and other systems and devices cannot connect to many websites using the HTTPS security protocol if their personal tech is more than a few years old and not running the latest operating systems. For the fortunate, they will only have the hassles of updating and upgrading – but many will now be forced to buy new technology. This same issue has occurred on a smaller scaler with lesser used security certificates, and has the potential to reemerge as other certificates expire. This is a critical matter for consumers who already have been demanding the option of paper correspondence mailed to them by their service providers. Why? Because it is these same service providers, including banks and financial services institutions, insurance companies, healthcare providers, telecoms and utilities that are the most likely to use the secure internet protocols, and valid security certificates are necessary for accessing private, personal account information.

IAC and Meredith Corporation announced their entry into an agreement pursuant to which IAC’s Dotdash digital publishing unit will acquire the entity that will hold Meredith Corporation's National Media Group, which is comprised of its Digital and Magazine businesses, and its corporate operations (“Meredith”), in an all cash transaction at a purchase price of $42.18 per share. The transaction combines the power of Dotdash’s digital publishing model with Meredith’s trusted, iconic brand portfolio, loyal audience and scale. The combined company, to be called Dotdash Meredith and led by Dotdash CEO Neil Vogel, is expected to be one of the largest publishers in America with leading brands across the highest value commercial categories online, including home, health, food, finance, parenting, and beauty. The transaction is expected to close by the end of the year. “The Meredith family is extremely proud of everything the company has achieved over the past 120 years, which is a direct reflection of our dedicated employees,” said Mell Meredith Frazier, Vice Chairman of the Meredith board of directors. “Our creative and devoted employees have guided our beloved brands through a fast-changing media landscape – enriching the lives of generations of Americans. The Meredith Foundation will continue to be an active member in the flourishing Des Moines community, as will Dotdash Meredith.”

Costco Wholesale Corporation reported net sales of $19.50 billion for the retail month of September, the five weeks ended October 3, 2021, an increase of 15.8 percent from $16.84 billion last year. Costco currently operates 817 warehouses, including 565 in the United States and Puerto Rico, 105 in Canada, 39 in Mexico, 30 in Japan, 29 in the United Kingdom, 16 in Korea, 14 in Taiwan, 13 in Australia, three in Spain, and one each in Iceland, France, and China. Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia.

Making sure those serving in the nation’s armed forces and diplomatic service receive their presents and care packages in time for the holidays is a priority of the U.S. Postal Service. Plan ahead and mail your holiday cheer early to friends and loved ones serving abroad. To send packages to military and diplomatic posts abroad, the Postal Service offers a discounted price of $20.40 on its largest Priority Mail Flat Rate Box. The price includes a $1.50 discount per box for mail sent to APO/FPO/DPO (Air/Army Post Office/Fleet Post Office/Diplomatic Post Office) destinations worldwide. To ensure timely delivery of holiday wishes by Dec. 25, the Postal Service recommends that cards and packages be sent to military APO/FPO/DPO addresses overseas no later than the mailing dates listed at: https://about.usps.com/newsroom/national-releases/2021/1005-usps-announces-shipping-dates-for-holiday-military-mail.htm

Two of the world’s leading retailers are working together to expand same-day and next-day delivery capabilities for home improvement customers in the U.S. With Walmart GoLocal, The Home Depot customers have another option for same-day or next-day delivery on a variety of home improvement products. “The Home Depot is continuously working to give customers the most convenient shopping experience in home improvement, and that includes providing a wide range of fast and reliable delivery options,” said Stephanie Smith, senior vice president of supply chain for The Home Depot. “This partnership brings us even closer to our goal of offering same-day or next-day delivery to 90 percent of the U.S. population.” The company will offer delivery with Walmart GoLocal in select markets in the coming weeks, with plans to expand to multiple markets across the country by the end of the year. Products that qualify for this scheduled delivery, including tools, fasteners, paint and other supplies that easily fit in a car, will have that option enabled at online checkout.

Kohl’s announced an expansion of the company’s ongoing commitment to health and wellness, including mental health, highlighted by a new national nonprofit partnership with NAMI, the National Alliance on Mental Illness. Kohl’s is donating $2 million over two years to NAMI, which the organization will use to refresh its support group model. With Kohl’s gift, NAMI’s support groups will be expanded to reach additional people and serve more diverse communities, rolling out virtually in communities across the United States. The programming will be enhanced to include new trauma-informed, cross-cultural training and materials to better support those whose mental health has been impacted by trauma, including the impacts of COVID-19 and economic uncertainty. “We’re confident that our new partnership with NAMI will make a positive impact in the lives of countless families across the country who are affected by mental illness,” said Greg Revelle, Kohl’s chief marketing officer. “We see this relationship as a natural extension of our long-standing commitment to healthy families and an important part of our continued focus on health and holistic well-being.”

Gap Inc. has acquired the New York and Tel Aviv based start-up Context-Based 4 Casting Ltd. (CB4) that uses cutting-edge AI and machine learning tools to transform retail operations, increase sales and improve the customer experience through predictive analytics and demand sensing. “We believe artificial intelligence and machine learning will shape the future of our industry. Gap Inc. has experience working with CB4’s world-class data scientists, so we understand the impact and the wide applications their science can have across sales, inventory and consumer insights, as well as its potential to unlock value and enhance the customer experience,” said Sally Gilligan, Chief Growth Transformation Officer Chief, and head of the Strategic Growth Office at Gap Inc. The deal was brokered by Gap Inc.’s Strategic Growth Office, a unit of the company that seeks out opportunities to fuel growth and accelerate new capabilities across its portfolio of brands.

Global research and education leader Wiley announced the acquisition of J&J Editorial Services, LLC, a publishing services company based in the United States. The acquisition of J&J Editorial reinforces the company’s commitment to helping learned societies, professional associations and publishers achieve their missions. Founded in 2008 by Jennifer Deyton and Julie Nash, J&J Editorial provides expert offerings in editorial operations, production, copyediting, system support and consulting, allowing more than 120 clients to publish world-class titles that power the global knowledge ecosystem. Together, Wiley and J&J Editorial are better suited to help societies, associations and publishers manage change, deliver high-quality content, and provide vital service flexibility in a changing publishing landscape.

HH Global is pleased to announce the completion of the acquisition of Noosh, following the signing of an agreement on September 30, 2021. HH Global identified Noosh as the best-in-class global technology solution provider with over $1.2b in marketing spend managed and sourced through its technology. This acquisition will allow HH Global to introduce self-serve and hybrid solutions to clients, while providing differentiated opportunities to extend existing client relationships into new categories and regions. Furthermore, the agreement will allow both businesses to leverage greater aggregated spend under management. Ultimately, the acquisition of Noosh will accelerate global service reach for both new and existing clients across both HH Global and Noosh, through unrestricted technology deployment.

Quarter-to-date service performance data for July 1 through Sept. 24 included: *First-Class Mail: Delivered 88.1 percent of First-Class Mail on time against the USPS service standard, an improvement of 0.6 percentage points from the third quarter. *Marketing Mail: Delivered 92.5 percent of Marketing Mail on time against the USPS service standard, an improvement of 1.5 percentage points from the third quarter. *Periodicals: Delivered 82.2 percent of Periodicals on time against the USPS service standard, an improvement of 3 percentage points from the third quarter. On October 1, the Postal Service will implement new service standards for First-Class Mail and Periodicals. These new service standards will increase delivery reliability, consistency, and efficiency for our customers and across our network. Most First-Class Mail (61 percent) and Periodicals (93 percent) will be unaffected by the new service standard changes. Standards for single-piece First-Class Mail traveling within a local area will continue to be two days.

The Commission finds: *The Postal Service’s stated goals for the proposal appear reasonable. *The Postal Service assumed factors necessary for successful implementation of the proposal that have not been demonstrated. *It is unclear when the Postal Service plans to realize the full impact of its proposed changes to the service standards. The proposed changes may have a positive impact on the Postal Service’s ability to meet its service performance targets. *The Postal Service’s cost-saving estimates of the proposed changes may be inflated and the proposed changes would not substantially affect the Postal Service’s overall financial condition. *Flaws in the Postal Service’s transportation model could diminish its reliability. The Postal Service’s surface network impact projections and estimated cost changes are potentially inaccurate and unachievable. *The Postal Service has not demonstrated that it is operationally capable of running the complex surface network modeled to support the service standard changes it plans to implement. *Implementing processing and transportation changes prior to peak season may be challenging due to the continuation of the COVID-19 emergency and stress on the logistics industry. In general, the Commission finds that the proposed changes appear to be consistent with applicable statutory requirements. Nevertheless, the Postal Service has not demonstrated that its implementation of the proposed changes will satisfy the requirements.

Today’s college students have grown up in a digital world, so one might expect that most of them would prefer e-textbooks to print on paper, but that’s not the case according to a new survey conducted by Direct Textbook, a free textbook price comparison service. The survey reports that 62% college students prefer print textbooks to e-textbooks. This represents a 10% decline in print textbook preference since 2015, when 72% of students reported favoring print textbooks, but it doesn’t mean students are embracing e-textbooks. Despite the growing e-textbook market, student preference for e-textbooks increased by just 2% from 2015 (27%) to 2021 (29%), while the number of students who have no preference increased by nearly 8% over that same period. Students who prefer print textbooks say they are easier to read and that they have trouble concentrating on e-textbooks. They also like that no internet is required. And 25% say they end up printing e-textbook pages anyway.

Penguin Random House is offering enhanced two-day shipping for independent booksellers starting October 1 and running through March 1, 2022. Of particular note, the company is waiving the minimum-retail-value requirement for orders. The program covers frontlist and backlist titles from all PRH's divisions as well as all the clients of Penguin Random House Publisher Services. The enhanced service also comes as concerns over possible supply chain disruptions grow, something alluded to in a statement from Jaci Updike, president. U.S. sales, for PRH: “While we can’t 100% predict what the supply chain will look like in the fourth quarter this year, we do know that rapid replenishment is a key element of profitability and success at the all-important holiday season, and as always, we want to step up our efforts to get books into stores as quickly as possible. Some things are out of our control – including the unprecedented challenges the shipping companies are facing – but the PRH team is committed to going above-and-beyond to pick and pack indie orders with full speed,” Updike said.

Gannett Co., Inc. announced that it is seeking to opportunistically refinance its existing term loan under its senior secured credit facilities. The Company intends to issue senior secured notes to refinance a portion of the term loan and refinance the remainder of the existing term loan with a new senior secured term loan. The proposed refinancing transactions are subject to market and other conditions, and the Company can give no assurances that it will complete any such transactions, in whole or in part, or as to the amount or timing of any such transactions. The new senior secured term loan would be in a principal amount up to $550 million (the “Credit Agreement”). Gannett Holdings LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company, would be the borrower under the Credit Agreement (the “Borrower”), and lenders are anticipated to include funds managed by affiliates of Apollo Capital Management L.P. Upon closing, the net proceeds of the loans will be used to refinance a portion of the Company’s existing term loan.

A funding boost for the Federal Trade Commission to create a new data protection bureau should be accompanied by a national privacy law, ad industry groups say. "The U.S. needs both a strong privacy regulator and a rational, comprehensive national consumer privacy law,” Leigh Freund, CEO and president of the self-regulatory organization Network Advertising Initiative stated Monday. She added that while the FTC needs more resources, increasing funding without establishing a national standard “will still leave U.S. consumers and businesses subject to a jumble of incompatible state and international laws.”

Skyrocketing demand for boxes and packing materials during the pandemic has slashed paper production across North America, and it couldn’t have come at a worse time for retail companies. “We’re starting to hear, ‘We’re out of paper,‘” said Polly Wong, president of San Francisco-based direct-marketing firm Belardi Wong, noting that some of her clients already missed their fall advertising campaigns due to issues at the printers. Ms. Wong estimates that 100 million catalogs will not be printed or reach U.S. homes in time for the year’s biggest spending season as a result. “It kind of put our industry up in a panic.” With some mills converting to cardboard to meet the spike in e-commerce deliveries and others shutting down altogether, more than 2.5 million metric tons of North American printing and writing paper capacity — or nearly one-fifth of 2019 levels — has come offline since the start of last year. more at source

If you're like me, sending a letter or package across the country through the US Postal Service feels like a game of chance. Will it get there in a week -- or two? During the first quarter of this year, around 20% of first-class mail across the US was delivered late. And now snail mail is about to get slower for some of the 160 million residences and businesses that rely on the Postal Service. Starting Oct. 1, the USPS will implement new service standards for its first-class mail and packages, lengthening delivery time for about 30% of its volume. That means some letters, parcels and magazine subscriptions traveling longer distances could take up to five days to arrive, instead of two or three days. The changes are part of a 10-year plan called Delivering for America to overhaul the agency and try to tackle its $160 billion debt. The plan would also reduce post office hours and raise prices for customers, and there'll be even more postage hikes during the peak holiday season. more at source

Quarter-to-date service performance data for July 1 through Sept. 17 included: *First-Class Mail: Delivered 88.3 percent of First-Class Mail on time against the USPS service standard, an improvement of 0.8 percentage point from the third quarter. *Marketing Mail: Delivered 92.5 percent of Marketing Mail on time against the USPS service standard, an improvement of 1.5 percentage points from the third quarter. *Periodicals: Delivered 82.2 percent of Periodicals on time against the USPS service standard, an improvement of 3 percentage points from the third quarter. Service performance in recent weeks has been affected in markets impacted by Hurricane Ida and ongoing employee availability challenges posed by COVID-19. Delivering for America, the Postal Service’s 10-year plan for financial sustainability and service excellence, seeks to meet or exceed its goal of 95 percent on-time service performance for all mail and shipping product delivery based on standards as all elements of the plan are implemented. The Postal Service continued preparations for the higher delivery demands of the 2021 holiday peak season this week. Ongoing efforts have included a national drive to hire delivery and plant personnel that is expected to result in an additional 40,000 seasonal hires by year-end, the leasing of 7.5 million square feet of additional space across more than 40 multiyear annexes where we are experiencing year-round space constraints due to parcel growth, and the installation of new processing equipment to accommodate higher volumes reflecting customers’ delivery needs. Since April, the Postal Service has installed 65 of 112 new package sorting machines, reflecting the Delivering for America plan’s $40 billion of planned investment over ten years. Additionally, more than 50 package systems capable of sorting large packages are expected to be deployed prior to December. 4.5 million additional packages can be sorted each day utilizing newly deployed package sortation equipment.

Costco Wholesale Corporation announced its operating results for the 16-week fourth quarter and the 52-week fiscal year, ended August 29, 2021. Net sales for the quarter increased 17.5 percent, to $61.44 billion from $52.28 billion last year. Net sales for the fiscal year increased 17.7 percent, to $192.05 billion from $163.22 billion last year. Net income for the fourth quarter was $1.670 billion, or $3.76 per diluted share, compared to $1.389 billion, or $3.13 last year. This year’s fourth quarter was negatively impacted by a write-off of certain information technology assets of $84 million pre-tax ($0.14 per diluted share). Last year’s fourth quarter was negatively impacted by incremental expense related to COVID-19 premium wages and sanitation costs of $281 million pretax ($0.47 per diluted share) and a $36 million pretax charge ($0.06 per diluted share) related to the prepayment of $1.5 billion of debt, partially offset by an $84 million pretax benefit ($0.15 per diluted share) for the partial reversal of a reserve related to a product tax assessment taken in fiscal year 2019. Net income for the fiscal year was $5.01 billion, or $11.27 per diluted share, compared to $4.00 billion, or $9.02 per diluted share in the prior year.

While UPS buys its way into last mile and on-demand delivery with Roadie, the U.S. Postal Service is piloting a same/next-day delivery service in Texas, geared toward local business-to-consumer orders that companies bring to a local USPS office to get a discounted rate. During the pilot of USPS Connect Local, small businesses can print prepaid labels using using ClickNShip, the USPS’s labeling system, and bring their packages to the dock of a post office near the final destination. The discounted rates are normally reserved for large-volume shippers. Packages must be dropped off by 7 a.m. for same-day delivery, otherwise it’s a next-day service. USPS Connect Local, launched in July, is part of the agency’s 10-year Delivering for America plan, which has a goal of adding $24 billion in net revenue growth over that period.

As supply chain issues continue to plague the retail sector, booksellers have become some of the most vocal voices online to warn of coming shortages this holiday season. This past weekend, some authors took to Twitter to urge readers that, if they want copies of their books in time for the holiday season, they needed to place their orders now. Independent bookstores, too have told customers to plan ahead. “If you think you might need a book in this last chunk of the year, please consider ordering soon,” Washington, D.C.-based East City Bookshop posted on Twitter, citing tightening in the supply chain. It isn’t just books: a complex combination of worker shortages, increased overseas shipping costs and raw material shortages have impacted companies ranging from Peloton to Ravensburger, a popular maker of jigsaw puzzles, said this week that it would halt all orders of its games for the foreseeable future. But book publishers are especially vulnerable because they order new book printings based on consumer demand, and to keep a popular title in stock, they depend on getting those new printings out to customers quickly. As the timelines for new printings are stretched further and further, publishers face the real possibility of running out of some books ahead of the holidays.

Pearson English announces the global launch of a new pre-primary course My Disney Stars and Friends, working alongside Disney. It features stunning Disney artwork, stories and themes suitable for the youngest learners. Pearson’s learning materials are at the forefront of educational trends and needs. My Disney Stars and Friends includes a focus on social and emotional learning, personal wellbeing, and puts learners on a clear and measurable learning path. They will be followed by a captivating series of MARVEL Cinematic Readers for teenagers and adults in the autumn. The new Disney-themed course can be used for teaching in school and home environments or a blended approach. This gives teachers flexibility and supports educators, parents and learners alike.

To help customers better prepare for a new Market Dominant price adjustment schedule, the Postal Service will not raise prices on Market Dominant products, including Forever stamps, in January 2022. Instead, the next Market Dominant price adjustment is scheduled to happen in July 2022. Beginning January 2023, Market Dominant price adjustments will occur twice a year, (e.g. January 2023, July 2023, January 2024, July 2024, etc.). Market Dominant products include First-Class Mail (FCM), USPS Marketing Mail, Periodicals, Package Services* and Special Services. July 2022 rate authority will include ten months of CPI plus retirement, density, and non-compensatory class authorities as determined by the Postal Regulatory Commission (PRC).The January rate authority will include six months of CPI, plus any unused rate authority.Subsequent July rate authority will include six months of CPI plus the retirement, density, and non-compensatory class authorities and any remaining unused rate authority.

The early months of the pandemic led to shortages of toilet paper, hand sanitizer, disinfectant wipes, meat and more. And a year and a half later, at least one supply chain in the U.S. is still experiencing disruptions. The nation's paper supply is running thin, impacting envelopes, books, paper bags and beyond, NBC News correspondent Kerry Sanders reported on TODAY Tuesday. One bride-to-be planning a wedding for November, Gabriella Santaniello, told TODAY that her invitations were delayed for weeks because her vendor didn't have enough paper to print the envelopes. "I panicked. I didn’t expect for them to come back with that answer," she recalled. Another impacted industry? Booksellers. Barnes & Noble saw a surge in sales at the height of the pandemic but could deal with supply chain issues during the holiday season. "The problem comes as we get closer into the holiday and really close to Christmas when some books start selling a bit more than we expect," Barnes & Noble CEO James Daunt told TODAY. "Then there’s a problem because then you can’t reprint and or rather the capacity for reprint is limited."

By any measure, the first half of 2021 was a good period for trade book publishing. Revenue at the companies that report trade sales to the Association of American Publishers’ StatShot program rose 17.6% over the first six months of 2020; NPD BookScan reported that unit sales increased 18.5% in the period; and bookstore sales jumped 30% over what was a miserable first six months of 2020. So it comes as no surprise that the four publicly traded major publishers also posted strong increases in the period. Of particular note is the fact that while sales were strong, profits were even better, with operating margins showing healthy gains. In general, the publishers cited higher sales of both backlist books and digital content, especially digital audiobooks, for the improved margins. Though supply chain issues and the uncertainty over the delta variant are causing some concerns about how the rest of the year will unfold, publishers are hoping that the increased interest in reading will carry over through the 2021 holiday season and beyond.

Women’s magazine Marie Claire is ending its US print edition after 27 years, The Post has learned. The magazine, which was sold by Hearst to British publisher Future Media in May, quietly informed its subscribers via a letter that its Summer 2021 issue would be its last. Marie Claire subscribers will instead receive a print copy of Harper’s Bazaar, the fashion publication owned by Hearst, for the rest of their subscription terms, according to the letter, which was signed by Bazaar editor in chief Samira Nasr. “I have some news to share: After the Summer 2021 issue, Marie Claire will no longer be available as an annual subscription but will instead focus on its vibrant digital platforms– Marieclaire.com, Instagram, Snapchat, etc.,” Nasr said.

Quarter-to-date service performance data for July 1 through Sept. 3 included: *First-Class Mail: Delivered 88.7 percent of First-Class Mail on time against the USPS service standard, an improvement of 1.2 percentage points from the third quarter. *Marketing Mail: Delivered 92.8 percent of Marketing Mail on time against the USPS service standard, an improvement of 1.8 percentage points from the third quarter. *Periodicals: Delivered 82.6 percent of Periodicals on time against the USPS service standard, an improvement of 3.3 percentage points from the third quarter. During the week of Aug. 28 - Sept. 3, the Postal Service quickly prepared for and responded to Hurricane Ida, a category 4 hurricane, which made landfall in Louisiana on Aug. 29. Due to the hurricane, network service delays occurred as the storm temporarily suspended USPS operations in parts of Louisiana and other Gulf Coast and Atlantic areas in the hurricane’s path.

Who doesn’t feel a rush of joy when they open a handwritten card or letter received in the mail? Many of us rediscovered the simple, yet powerful pleasures of keeping in touch with pen, paper and a postage stamp during the pandemic. Later this month, everyone across America – and around the globe – is invited to send a card, deliver a smile and together create a much-needed wave of happiness during Thinking of You Week. Celebrated September 20 to 26, Thinking of You Week is an international movement to celebrate the joy of sending and receiving hand-written notes and greeting cards. Launched in the United Kingdom in 2014, the celebration was brought to the U.S. by the Greeting Card Association in 2018.

Walmart Inc. announced a cross-platform partnership with Meredith Corporation to help millions of busy families plan and prepare meals faster and more easily through AI-powered meal planning, shoppable recipes, visual search, chatbots, and more. The partnership pairs Meredith’s expertise in food content, hyper-local consumer insights and proprietary technology platform with Walmart’s wide customer reach, omnichannel presence, deep product assortment, convenient shopping experience and delivery options. This is the latest strategic addition to Walmart’s thriving grocery eCommerce business.

Athleta announced the expansion of a wholesale partnership with REI Co-op, bringing a curated selection of its product to 135 REI stores nationwide and online. As part of its growth plan to reach $2 billion in net sales by 2023, Athleta has committed to investing in new touchpoints to increase awareness and drive new customer acquisition. The collection will include select styles of Athleta premium performance and lifestyle apparel and accessories, designed by women for women. Customers will be able to shop Athleta core lifestyle, hike and yoga bottoms, along with key tops and accessories. Additionally, REI will carry select extended sizing options from size 0-26 in hiking and fitness apparel designs in one-quarter of all stores and on REI.com, bringing women even more inclusive sizing options and ways to shop.

A BISG webinar held in early July sought to draw attention to the growing challenges in the book industry’s supply chain. Panelists pointed to shortages of truck drivers and trailers, congestion at the ports, and escalating transportation costs as factors that, in the words of David Hetherington, Book International’s v-p of global business development, were putting more pressure on the supply chain than at any time he could remember. In the ensuing two months, things have gotten worse, as printing capacity continues to shrink and labor shortages have made it difficult for printers, retailers, and wholesalers to fully staff their businesses. Concerns have risen to such a level that the two biggest trade wholesalers, Ingram and Bookazine, have reached out to their accounts to urge them to take a range of actions to try to mitigate problems, informing them of steps they should take to be better positioned to meet the needs of the fall and holiday. Top of the recommendation list from both Ingram and Bookazine is for accounts to order as early as possible.

Quarter-to-date service performance data for July 1 through August 27 included: *First-Class Mail: Delivered 88.8 percent of First-Class Mail on time against the USPS service standard, an improvement of 1.3 percentage points from the third quarter. *Marketing Mail: Delivered 92.8 percent of Marketing Mail on time against the USPS service standard, an improvement of 1.8 percentage points from the third quarter. *Periodicals: Delivered 82.8 percent of Periodicals on time against the USPS service standard, an improvement of 3.5 percentage points from the third quarter. For the week of Aug. 21-27, the Postal Service achieved its highest level of service performance ever recorded for the Marketing Mail category (94.1%).

“Wiley’s steady execution of growth strategies in open research, online education, and talent development drove another quarter of strong revenue and profit gains,” said Brian Napack, President and CEO. “Our strategies continue to be tightly aligned with accelerating long-term trends across academic and corporate markets, and we are well-positioned to drive social impact by enabling discovery, powering education and shaping workforces.” *Research Publishing & Platforms rose 14% as reported, 10% at constant currency and 5% excluding acquisitions, driven by strong growth in open research, platforms and corporate sales. *Academic & Professional Learning grew 10% as reported and 7% at constant currency, driven by strong growth in digital courseware and professional publishing, accompanied by further recovery in corporate training. *Education Services increased 16% as reported and 13% at constant currency, driven by growth in university services (formerly OPM) and talent development (formerly mthree). *GAAP EPS was $0.24 as compared to $0.29 in the prior year period, primarily reflecting non-cash deferred tax expense of $21 million arising from an increase in the UK corporate income tax rate from 19% to 25% effective April 2023.

Costco Wholesale Corporation reported net sales of $15.75 billion for the retail month of August, the four weeks ended August 29, 2021, an increase of 16.2 percent from $13.56 billion last year. For the 16-week fourth quarter ended August 29, 2021, the Company reported net sales of $61.4 billion, an increase of 17.4 percent compared to net sales of $52.3 billion during the similar period last year. For the 52-week fiscal year ended August 29, 2021, the Company reported net sales of $192.1 billion, an increase of 17.7 percent from the $163.2 billion during the similar period last year.

America’s top 25 largest newspapers have lost 20% of their weekday print circulation since the Covid-19 crisis began, a Press Gazette analysis of Alliance for Audited Media (AAM) data shows. Newspaper circulations have been in decline for years. But our research suggests that the pandemic significantly increased the rate of decline. In the first quarter of 2019, the 25 newspapers had a combined circulation of 4.7m. A year later, this total figure had fallen by 11% to 4.2m. The latest figures for these titles show a combined circulation of 3.4m, down 20% in a year.

Accelerate360’s Comag Marketing Group LLC (Comag) and Meredith Corporation (NYSE: MDP) today announced a partnership allowing Comag customers to strengthen their competitive position and manage their operations more efficiently via access to Meredith’s media expertise and economies of scale. Meredith now offers Comag customers access to a wide array of its own media marketing and production-related capabilities and services, including those focused on audience development, digital newsstand management, digital and magazine pre-media support, and paper and print procurement. “We are delighted to announce this partnership with Meredith which brings extraordinary benefits and additional services to our valued clients,” said Comag Marketing Group President Jay Felts. “This new platform with Meredith underscores our commitment to providing new and innovative opportunities for our clients, allowing them to focus on content creation and growing their overall audiences.”

Dear Industry Executive: By now, you've heard plenty from us about the dire need for Congress to pass legislation to reform the US Postal Service. Passage of such a bill can potentially improve all aspects of your dealings with the USPS - better rates, service, accountability, and the like. The manager of the Coalition for a 21st Century Postal Service (C21), the mailing industry group of which ACMA is an influential member, wrote an excellent opinion piece in today's edition of The Hill, an objective daily publication that connects the players, defines the issues and influences the way Washington's decision makers view the debates on Capitol Hill. Two Quick & Easy Asks: 1. Share this influential article on social media using the buttons at the top of the op-ed from both your personal and business accounts if possible. You can also visit the C21 Facebook page to like and share from there. 2. If your business or clients rely on a healthy Postal Service, help influence Congress to move the current postal reform bills along to eventual passage. If your company has ties with any Members of the Senate Appropriations Committee (especially Democrats), encourage them to work with Sen. Jerry Moran (R-KS) on his “second review” language for the Financial Services and General Government Subcommittee of Appropriations. Click here to view a list of senators on this vital committee to see if one represents your state. As always, please alert us (via our action@catalogmailers.org address) of any/all actions you take, as it's very helpful in our broader efforts and allows our DC personnel to follow up directly. And of course, please pass this alert onto anyone you know in the catalog/remote marketing/e-com industries who you think could take similar actions.

Bertelsmann closed the first half of 2021 with a record operating result of €1.4 billion. The international media, services, and education company generated revenues significantly above the previous year’s and pre-Corona levels, as well as its highest Group result in 19 years. Four of the eight business units each recorded double-digit organic growth rates. For the full year, the company expects its business to continue to develop positively and anticipates Group profit of close to two billion euros. Bertelsmann’s first-half consolidated revenues increased by 10.7 percent over the previous year to €8.7 billion (H1 2020: €7.8 billion). Organic growth was 16.6 percent year-on-year, and 7.1 percent compared to the pre-Corona year 2019. The RTL Group, Penguin Random House, Gruner + Jahr, and Arvato divisions each recorded double-digit organic-growth rates. Operating EBITDA improved significantly to €1.4 billion (H1 2020: €1.0 billion), marking a new record. RTL Group, Penguin Random House and Arvato once again proved to be the strongest earnings pillars in the Bertelsmann Group.

The company’s second quarter fiscal year 2021 net sales of $4.2 billion were up 5% compared to 2019. Gross profit: $1.82 billion, an increase of $267 million or 17%. Gross margin: 43.3%, an increase of 440 basis points. Comparable sales were up 3% year-over-year, and up 12% versus 2019. The comparable sales calculation reflects online sales and comparable sales days for stores that were open on the same days in both the current and prior comparable period. Old Navy Global: Net Sales were up 21% versus 2019, with Old Navy maintaining its position as the #2 apparel brand in the U.S.1 Comparable sales were flat to last year and up 18% versus 2019. Gap Global: Net Sales declined 10% versus 2019, with permanent store closures resulting in an estimated 14% sales decline, and international COVID-closures driving an estimated 1% decline on a 2-year basis. Global comparable sales declined 5% year-over-year and increased 3% versus 2019. Banana Republic Global: Net Sales declined 15% versus 2019, with permanent store closures resulting in an estimated 10% sales decline, and international COVID-closures driving an estimated 1% decline on a 2-year basis. Comparable sales were up 41% year-over-year and down 5% versus 2019. Athleta: Net Sales were up 35% versus 2019. Comparable sales grew 13% year-over-year and 27% versus 2019.

Gap Inc. has acquired Drapr, an ecommerce startup and online application based on technology that enables customers to quickly create 3D avatars and virtually try on clothing. Drapr is designed to help customers find the best clothing size and fit for their personal style and body type, while helping retailers reduce unnecessary returns. “Fit is the number one point of friction for customers and, through their advanced 3D technology, Drapr has shown it can help shoppers efficiently find the size and fit they need. We plan to leverage Drapr to help Gap Inc. improve the fit experience for our customers and accelerate our ongoing digital transformation,” said Sally Gilligan, Chief Growth Transformation Officer at Gap Inc.

For the Second Quarter of Fiscal 2021 *Net sales increased 60.2% to $2.0 billion compared to $1.2 billion in the second quarter of fiscal 2020 due to the favorable impact from stronger consumer confidence and fewer COVID-19 restrictions, compared to the second quarter of fiscal 2020. *Comparable sales (sales for stores open at least 14 months, including stores temporarily closed due to COVID-19, and e-commerce sales) increased 56.3% compared to a decrease of 26.7% in the second quarter of fiscal 2020, driven by a 52.5% increase in transactions and a 2.5% increase in average ticket. Compared to the second quarter of fiscal 2019, comparable sales increased 13.1%. *Gross profit increased to $798.0 million compared to $329.0 million in the second quarter of fiscal 2020. As a percentage of net sales, gross profit increased to 40.6% compared to 26.8% in the second quarter of fiscal 2020, primarily due to leverage of fixed costs, improvement in merchandise margins, favorable channel mix shifts, and leverage of salon expenses. *Net income was $250.9 million compared to $8.1 million in the second quarter of fiscal 2020. Adjusted net income for the second quarter of fiscal 2020 was $41.5 million.

Nordstrom, Inc. reported second quarter results, which reflected continued broad-based improvement in sales trends at Nordstrom and Nordstrom Rack across categories and geographies. The Company reported net earnings of $80 million or $0.49 per diluted share, with earnings before interest and taxes (“EBIT”) of $151 million. For the second quarter ended July 31, 2021, net sales increased 101 percent from the same period in fiscal 2020 and decreased 6 percent from the same period in fiscal 2019, representing a sequential improvement of approximately 700 basis points relative to the first quarter of fiscal 2021. The timing shift of the annual Anniversary Sale, with roughly one week falling into the third quarter of 2021, had a negative impact of approximately 200 basis points on net sales compared with fiscal 2019. Adjusting for this timing shift, sales trends improved by approximately 900 basis points relative to the first quarter.

Urban Outfitters, Inc. which operates a portfolio of global consumer brands comprised of the Anthropologie, BHLDN, Free People, FP Movement, Terrain, Urban Outfitters, Nuuly and Menus & Venues brands, announced net income of $127 million and earnings per diluted share of $1.28 for the three months ended July 31, 2021. For the six months ended July 31, 2021, net income was $181 million and earnings per diluted share were $1.82. Total Company net sales for the three months ended July 31, 2021, were a record $1.16 billion. Net sales increased 20.3% compared to the three months ended July 31, 2019. Comparable Retail segment net sales increased 22%, driven by strong double-digit growth in digital channel sales, partially offset by low single-digit negative retail store sales due to reduced store traffic. By brand, comparable Retail segment net sales increased 53% at the Free People Group, 20% at Urban Outfitters and 14% at the Anthropologie Group. Total Retail segment net sales increased 24%. Wholesale segment net sales decreased 30% primarily from reducing the Free People Group’s sales to promotional wholesale customers.

Quarter-to-date service performance data for July 1 through August 20 included: *First-Class Mail: Delivered 88.8 percent of First-Class Mail on time against the USPS service performance standard, an improvement of 1.3 percentage points from the third quarter. *Marketing Mail: Delivered 92.7 percent of Marketing Mail on time against the USPS service performance standard, an improvement of 1.7 percentage points from the third quarter. *Periodicals: Delivered 82.1 percent of Periodicals on time against the USPS service standard, an improvement of 2.9 percentage points from the third quarter. Additionally, for the week of August 14-20, the Postal Service achieved its highest level of service performance recorded for the Marketing Mail category in five years, matching a previous high (93.9%) recorded in August 2016.

Nearly 180 million American workers currently pay into the Social Security system. But upwards of 150 million of them have not recently viewed an accounting of what they’ve contributed, what Social Security income they can anticipate for retirement and other vital details. This because most stopped receiving an annual paper statement in the mail years ago. And the overwhelming majority cannot or do not access this information online. The data makes clear that most wage earners do not have essential knowledge about their personal Social Security benefits, which for many will be their primary or significant source of income in their later years. Fortunately, the solution is simple: direct the Social Security Administration (SSA) to mail all workers aged 25 and older an annual paper statement, just like they did up until 2010. This is precisely what bipartisan legislation recently reintroduced in the U.S. Congress would do. Appropriately named the “Know Your Social Security Act,” the measure has strong support from citizens, consumer groups, advocates for seniors, cybersecurity experts and financial planners.

Total revenues across all categories for June 2021 were essentially flat, with an increase of 0.2% as compared to June 2020, coming in at $1.2 billion. Year to date revenues were up 18.1%, at $6.3 billion for the first six months of the year. Trade (Consumer Books) sales were down 8.0% in June, coming in at $638.5 million, but up 17.0% year to date, with $4.1 billion in revenue. In terms of physical paper format revenues during the month of June, in the Trade (Consumer Books) category, Hardback revenues were down 10.2%, coming in at $203.1 million; Paperbacks were down 8.3%, with $225.2 million in revenue; Mass Market was down 26.0% to $18.2 million; and Board Books were up 13.3%, with $14.3 million in revenue. click read more below for additional information

Three Gannett newspapers in New Jersey — Asbury Park Press, Home News Tribune and Courier News — have unionized with the NewGuild of New York, the union announced last week. “Our newsrooms have served our communities for over a century, and by forming the APP-MCJ Guild, we are ensuring our journalists are given the necessary means to serve for the next 100 years,” states Ryan Ross, on-air host and visual journalist for the Asbury Park Press. “We respect the right of employees at Asbury Park Press, the Courier News and the Home News Tribune to make a fully informed choice for themselves whether to unionize or not to unionize,” says Thomas C. Zipfel, Gannett's labor relations counsel.

At the end of 2020, the Hachette Book Group was the fourth-largest trade publisher in the country, with estimated annual sales of roughly $700 million. When the acquisition of Simon & Schuster—the third-largest trade publisher—by #1 trade publisher Penguin Random House is finally completed, HBG will move into the third spot. Last week, HBG took a major step to ensure that it will assume S&S’s position as the largest trade publisher behind PRH and HarperCollins, with its agreement to acquire Workman Publishing for $240 million. One of few remaining independent publishers of its size, Workman had sales of $134 million last year, and its addition will get HBG revenue over the $800 million level.

The Board of Directors announced the selection of the Chief Executive Officers (CEO) and company names for each of the two companies, which would become effective upon the completion of the spin-off: *The ODP Corporation – a leading B2B solutions provider serving small, medium and enterprise level companies, will consist of several operating companies, including the contract sales channel of ODP’s current Business Solutions Division, which will be renamed ODP Business Solutions, and ODP’s newly formed B2B digital platform technology business, which will be named Varis. ODP Business Solutions and Varis will be owned by ODP, but operated as separate businesses. ODP will also continue to own the global sourcing operations and other sourcing, supply chain and logistics assets. Gerry Smith will continue to serve as CEO of The ODP Corporation following the separation. *Office Depot – a leading provider of retail consumer and small business products and services distributed via approximately 1,100 Office Depot and OfficeMax retail locations and an award-winning eCommerce presence, officedepot.com, will be spun-off and will be named Office Depot, Inc. Kevin Moffitt, currently EVP, Chief Retail Officer of The ODP Corporation, will be appointed CEO of Office Depot upon completion of the spin-off.

Fourth-quarter service performance for July 1 through August 12 included: *First-Class Mail: Delivered 88.8 percent of First-Class Mail on time against the USPS service standard, an improvement of 1.3 percentage points from the third quarter. *Marketing Mail: Delivered 92.6 percent of Marketing Mail on time against the USPS service standard, an improvement of 1.6 percentage points from the third quarter. *Periodicals: Delivered 82.4 percent of Periodicals on time against the USPS service standard, an improvement of 3.1 percentage points from the third quarter. The Postal Service’s recent service delivery improvements have been, in part, the result of a strategic shift to more ground deliveries, decreasing the agency’s reliance on the limited cargo capacities of third-party air carriers, and improved network efficiencies.

Highlights: *Second quarter net sales and earnings exceed expectations and company raises full year 2021 financial outlook *Second quarter net sales increase 31.4% *Record second quarter diluted earnings per share of $2.48 and company raises full year 2021 guidance to $5.80 to $6.10 *Strengthened financial position during the quarter, ending with $2.6 billion in cash *Repurchased $255 million of shares in the quarter and now plans to repurchase $500 million to $700 million of shares in 2021. “Our performance in the second quarter marked another important step in further establishing Kohl’s as the leading destination for the active and casual lifestyle. We delivered record second quarter earnings with sales and margins materially exceeding expectations. As pleased as we are with our ongoing strategic progress, much of our opportunity is still ahead of us. We are on the eve of launching several transformational partnerships that will drive sustainable growth for years to come,” said Michelle Gass, Kohl’s chief executive officer.

HH Global is pleased to announce the completion of the acquisition of Adare International (including Purple Agency), from the private equity firm Endless LLP, following the signing of an agreement on Monday 21 June 2021. The combined business will generate approximately $2.1bn in annual sales. This deal will create a joint global business with over 4,000 employees and a presence in more than 65 countries, cementing HH Global’s position as market leader. It will also allow stronger in-country operations, helping to propel seven of our local markets to achieve local annual run rates of over $50m revenue for the first time. Mike Perez, Group CEO of HH Global, expressed “Following on from the successful integration of InnerWorkings in October last year, we are thrilled to join forces with Adare International. Welcoming new clients and colleagues on board is always an exciting process, and the strength of Adare International in these areas was a key motivation for our interest in acquiring them. I’m also particularly excited to enhance our capabilities in creative services in the healthcare and B2B sectors with Purple Agency, and to take advantage of the enhanced geographical reach and local revenue within their regional operations.”

Fourth-quarter service performance for July 1 through August 6 included: *First-Class Mail: Delivered 88.9 percent of First-Class Mail on time against the USPS service standard, an improvement of 1.4 percentage points from the third quarter. *Marketing Mail: Delivered 92.6 percent of Marketing Mail on time against the USPS service standard, an improvement of 1.6 percentage points from the third quarter. *Periodicals: Delivered 82.9 percent of Periodicals on time against the USPS service standard, an improvement of 3.6 percentage points from the third quarter. For the week of July 31 – August 6, Periodicals, including newspapers and magazines, reached the highest service performance level (84.8 percent) reported for that category in nearly a year and a half, since the week of March 28 – April 3, 2020 (85.3 percent).

Amazon is on pace to spend over $120 billion on supplies and services from businesses in the U.S. in 2021. The purchases are from more than 200,000 companies that operate in communities across the country that help keep Amazon running—from electric vehicle manufacturers to cardboard box producers to construction and engineering firms. The 2021 spending represents an increase of 20% year over year and does not include any of the products Amazon buys and sells to customers in its stores. “Millions of families rely on us to deliver what they need every day,” said Dave Clark, CEO of Worldwide Consumer at Amazon. “Delivering for our customers takes teamwork—we can’t do it alone. We rely on strong partnerships with hundreds of thousands of American businesses—from our forklift manufacturer in Kentucky to the construction company in Texas that builds our delivery stations. Today is about renewing our commitment to these businesses and betting big on them.”

Many parents around the United States are sending their children back to school soon — in person and full time. Students and teachers, who may not have seen one another in months, will face several challenges related to the coronavirus pandemic, such as learning loss and economic disparities. The good news? Paper can help. Research is mixed on the effects of the pandemic on students, but in a poll of 1,000 public school educators conducted by the Horace Mann Educators Corporation, 97 percent of teachers reported seeing some learning loss in their students during the past year compared to previous years. Data from McKinsey in December 2020 noted that students of color were about three to five months behind in learning due to lower access to technology, the internet and in-person learning support. Reading and math are two paper-intensive subjects that typically require access to textbooks, library books and/or notebook paper. Paper can help bridge the divide in learning achievement caused by the pandemic and related economic challenges. click read more for the rest of the article

The recent passage of the “No Surprises Act” is being hailed as a major victory for patients and consumers. Effective January 1, 2022, the new federal law will prevent patients from receiving surprise medical bills resulting from gaps in coverage for emergency services and certain services provided by out-of-network doctors and other providers at in-network facilities. Unfortunately, critical documentation that medical consumers rely on to catch and dispute these surprises might not be where they’ve always found it: in their mailbox. Explanation of Benefits (EOBs) are essential notices that help patients understand how much each service costs, how much their insurance plan will cover, and how much they will have to pay their doctor or hospital. Until very recently, it had been a universal health insurance industry best practice to mail paper EOBs to plan members by default. read much more at: https://keepmepostedna.org/new-consumer-protections-against-surprise-medical-bills-are-compromised-when-healthcare-providers-stop-delivery-of-paper-explanation-of-benefits/

Revenues grew to $3.0 billion, up 5 percent. Earnings from continuing operations were $307 million, compared to a loss of $209 million. Adjusted EBITDA was $683 million, compared to $548 million. Key accomplishments included: *Digital advertising revenues surpassing magazine for the first time in Meredith's history. Digital advertising grew 31 percent. Additionally, Meredith's licensing and digital and other consumer driven revenues grew 27 percent and 25 percent, respectively. *$254 million debt reduction, enabled by record Cash Flow from Operations and Free Cash Flow. Debt reduction was enabled by total company revenue performance along with proactive actions to enhance Meredith's financial flexibility. *Agreeing to sell Meredith's Local Media Group for $2.825 billion, representing a 10x valuation. The transaction, which also includes spinning Meredith's National Media Group, comprising digital and magazine, out to shareholders, is expected to advance the company's financial priorities including reducing net debt, improving financial flexibility, optimizing capital allocation to high-potential opportunities, and providing returns to shareholders.

Dear Industry Member: Representatives from the Coalition for a 21st Century Postal Service (C-21), including ACMA’s Hamilton Davison, recently hosted staffers from a half dozen Congressional offices. The event was opened by mailing industry proponent Rep. Glenn Grothman (R-WI-6th, pictured at right). In addition to stressing the importance of the Postal Service, the goal was to educate a new crop of Capitol Hill postal staffers from offices that are not as familiar with what keeps the USPS delivering affordably and reliably and the need for legislation now. Representing Marketing Mail interests, Davison emphasized the potentially fatal impact the impending August 30th postage increase will have on catalog and other mailers’ future use of the mail. Other C-21 members discussed similar problems for the other mail classes from the rate hike as well as the USPS’s deliberate slowdown of mail delivery. see more detail at: https://catalogmailers.org/mailing-industry-coalition-briefs-congress-to-spur-action-on-postage-increases/

The United States Postal Service filed notice today with the Postal Regulatory Commission (PRC) regarding a temporary price adjustment for key package products for the 2021 peak holiday season. This temporary rate adjustment is similar to one in 2020 that anticipated heightened peak-season package and shipping demand, which typically results in extra handling costs. The planned peak-season pricing, which was approved by the Governors of the Postal Service on Aug. 5, would affect prices on commercial and retail domestic competitive parcels – Priority Mail Express (PME), Priority Mail (PM), First-Class Package Service (FCPS), Parcel Select, USPS Retail Ground, and Parcel Return Service. International products would be unaffected. Pending favorable review by the PRC, the temporary rates would go into effect at 12:00 a.m., Central Time, on Oct. 3, 2021, and remain in place until 12:00 a.m., Central Time, Dec. 26, 2021. This seasonal adjustment will bring prices for the Postal Service’s commercial and retail customers in line with competitive practices. No structural changes are planned as part of this limited pricing initiative.

The Atlantic has reached a paid circulation of 833,410 for the first half of 2021, the largest in its 164-year history, Editor In Chief Jeffrey Goldberg and CEO Nicholas Thompson announced in a message to the staff. The number, which had been filed with the Alliance for Audited Media (AAM), includes both print and digital subscribers, including those on the iOS app and Apple News+. Growth has gone from 474,274 two years ago to 252,242 in the first half of 2020.

The U.S. Postal Service today announced its financial results for the 2021 third quarter ended June 30, reporting a net loss of approximately $3.0 billion, compared to a net loss of approximately $2.2 billion for the same quarter last year. Excluding the combined effects of non-cash workers' compensation adjustments due to fluctuations in discount rates and other actuarial revaluations, the loss for the quarter would have been approximately $2.3 billion, compared to a loss of approximately $2.4 billion for the same period last year. The Postal Service reported operating revenue of approximately $18.5 billion for the third quarter of fiscal 2021, an increase of $845 million, or 4.8 percent, compared to the same quarter last year. Marketing Mail revenue increased by approximately $1.0 billion, or 42.2 percent, on volume growth of approximately 4.3 billion pieces, or 38.6 percent. Marketing Mail experienced steep volume declines at the onset of the pandemic last year, but has been rebounding as the economy continues to recover. First-Class Mail revenue increased by $54 million, or 1.0 percent, on volume growth of 130 million pieces, or 1.1 percent, as the economy continues to recover. Shipping and Packages revenue decreased by $646 million, or 7.8 percent, on a volume decline of 300 million pieces, or 14.1 percent, compared to the same quarter last year, as a pandemic surge in demand for package deliveries began to abate.

For the Three Months Ended July 3, 2021: Net sales increased 45% to $357.7 million, compared to $246.9 million during the same period last year. *Direct-to-consumer (“DTC”) channel net sales increased 48% to $196.9 million, compared to $133.0 million in the prior year quarter, driven by strong performance in both Drinkware and Coolers & Equipment. The DTC channel grew to 55% of net sales, compared to 54% in the prior year period. *Wholesale channel net sales increased 41% to $160.8 million, compared to $113.9 million in the same period last year, driven by both Drinkware and Coolers & Equipment. In the second quarter of 2020, wholesale channel net sales were adversely impacted by the temporary store closures due to COVID-19. *Drinkware net sales increased 69% to $192.9 million, compared to $114.3 million in the prior year quarter, primarily driven by the continued expansion of our Drinkware product offerings, including the introduction of new colorways and sizes, and strong demand for customization. *Coolers & Equipment net sales increased 23% to $157.8 million, compared to $128.6 million in the same period last year, driven by strong performance in soft coolers, bags, outdoor living products, cargo and hard coolers. Gross profit increased 52% to $209.1 million, or 58.5% of net sales, compared to $137.5 million, or 55.7% of net sales, in the second quarter of 2020.

Fourth-quarter service performance for July 1 through July 30 included: First-Class Mail: Delivered 89.0 percent of First-Class Mail on time against the USPS service standard, an improvement of 1.5 percentage points from the third quarter. Marketing Mail: Delivered 92.6 percent of Marketing Mail on time against the USPS service standard, an improvement of 1.6 percentage points from the third quarter. Periodicals: Delivered 82.7 percent of Periodicals on time against the USPS service standard, an improvement of 3.4 percentage points from the third quarter. For the week of July 24 - 30, Marketing Mail maintained the highest service performance level (93.7 percent) reported for that category in nearly five years, since the week of August 20-26, 2016 (93.9 percent).

Second Quarter 2021 Financial Highlights: • Total revenues of $804.3 million rose 4.9% compared to the prior year quarter ◦ Same store revenues (as defined and reconciled on Table No. 5 below) increased 6.8% compared to the second quarter of 2020 • Total digital revenues were $259.3 million or 32.2% of total revenues • Net income attributable to Gannett of $15.1 million • Adjusted EBITDA totaled $115.8 million, an increase of $37.8 million or 48.4% compared to the second quarter of 2020 and represented a 14.4% margin • Net cash flow provided by operating activities of $31.3 million • Free cash flow of $23.1 million

Fiscal 2021 Full Year Key Financial Highlights: *Revenues were $9.36 billion, a 4% increase compared to $9.01 billion in the prior year, reflecting a 30% increase in the fourth quarter *Net income of $389 million compared to a net loss of $(1.55) billion in the prior year, which included non-cash impairment charges of $1.69 billion *Total Segment EBITDA was $1.27 billion compared to $1.01 billion in the prior year *Diluted EPS were $0.56 compared to $(2.16) in the prior year – Adjusted EPS were $0.67 compared to $0.22 in the prior year *Revenues at Move, operator of realtor.com®, grew 36% year-over-year, with 68% growth in the fourth quarter, which was an acceleration from the prior quarter growth rate. Average monthly unique users grew 32% in the fourth quarter *Dow Jones saw record digital subscriptions, continued robust growth at Risk & Compliance and a strong increase in digital advertising revenues *Foxtel’s streaming products exceeded 2 million total paid subscribers as of year end, driving 40% total paid subscriber growth *Book Publishing continued to benefit from strong consumption patterns with 19% revenue growth *Announced agreement to acquire OPIS, a leading data and analytics provider for energy and commodities markets, to bolster Dow Jones’ Professional Information Business

The international media, services, and education company Bertelsmann has completed the acquisition of 25 percent of the capital shares and 46 percent of the voting rights in the Nasdaq-listed education company Afya in Brazil. The Brazilian antitrust authorities had previously given their approval. The transaction, which significantly expands Bertelsmann’s involvement in the Brazilian education market, has a volume of €500 million. Bertelsmann will provide three of the eleven members of the company’s Board of Directors from now on. Afya is the leading provider of medical education and training in Brazil. Bertelsmann acquired the shares in the company from Crescera Educacional II, a fund launched in 2014 by Crescera Capital with Bertelsmann as the main investor. Afya is now to be developed further in cooperation with the Esteves founding family, which holds 24 percent of the shares and 45 percent of the voting rights, and the company’s successful management.

The media companies RTL Deutschland and Gruner + Jahr are joining forces to form a new national cross-media champion. The decision follows a review process lasting several months, with the aim of deepening the successful collaboration between the country’s leading private TV, radio, and streaming group and the publishing house with its powerful brands. The new company will start operating as one at the beginning of next year. Bertelsmann CEO Thomas Rabe says: “The relevant bodies, RTL Group’s Board, and Bertelsmann’s Executive Board and Supervisory Board, have come to the conclusion that RTL Deutschland and G+J can better exploit their growth potential together. By forming this national media champion, Bertelsmann is implementing its strategic priorities as it has already done in France, the Netherlands and Belgium. This will strengthen our media businesses in the German market in the competition with the global tech platforms,” Rabe continued, “No other media company in this country can create such a cross-genre growth alliance. RTL Deutschland and G+J are a content powerhouse that combines the content expertise of 1,500 journalists, among other things. The companies bring together strong content and brands across the various media under one roof. This will generate annual synergies of around 100 million euros – largely due to growth.”

Costco Wholesale Corporation reported net sales of $15.21 billion for the retail month of July, the four weeks ended August 1, 2021, an increase of 16.6 percent from $13.04 billion last year. For the forty-eight weeks ended August 1, 2021, the Company reported net sales of $176.30 billion, an increase of 17.8 percent from $149.66 billion last year.

Highlights from the quarter include: *Raising 2021 billings guidance to $980-1,020 million and unlevered free cash flow guidance to 12-14% of billings *Strong billings growth across the Company of 25% in Q2 and 21% YTD as demand for teaching and learning solutions grows with students returning to classrooms this fall *Annualized Recurring Revenue (ARR)2 growth accelerated 106% bringing ARR to $77 million, or 8% of trailing twelve-month billings. Net Retention Rate (NRR)2 was 154% *Trailing twelve-month free cash flow of $101 million, an improvement of $29 million compared to the first quarter of 2021, reflecting strong operating leverage and the benefits of 2020 actions to align HMH’s cost structure with its Digital First, Connected strategy *Gross leverage ratio of 1.8x, below HMH’s target leverage ratio of 2.0x adjusted EBITDA

In a reversal of the usual flow of things, GrillGirl.com founder Robyn Lindars has started a print magazine. Grill Girl is available at retailers and grocery stores nationwide, including Barnes & Noble, CVS and Walmart. Lindars, who started offering outdoor grilling recipes in 2008, went into print to help “elevate everyone’s grilling game,” she states. Each issue will feature over 25 recipes and advice on how to pick the right grill, grill the perfect steak, cook an entire meal on the grill and plank grill pizzas.

Total revenues for the second quarter of 2021 increased 23.5 percent to $498.5 million from $403.8 million in the second quarter of 2020. Subscription revenues increased 15.7 percent to $339.2 million, advertising revenues increased 66.4 percent to $112.8 million and other revenues increased 8.7 percent to $46.5 million. Compared with the second quarter of 2019, total revenues increased 14.3 percent, as subscription revenues increased 25.4 percent, advertising revenues declined 6.6 percent and other revenues increased 3.3 percent. Total operating costs increased 12.4 percent in the second quarter of 2021 to $421.4 million compared with $374.9 million in the second quarter of 2020, while adjusted operating costs increased 15.4 percent to $405.6 million from $351.6 million in the second quarter of 2020. Compared with the second quarter of 2019, total operating costs increased 5.8 percent, while adjusted operating costs increased 6.5 percent.

Total reported sales for the second quarter of 2021 were $2.3 billion, an increase of 6% compared to the second quarter of 2020. The year-over-year increase in revenue was partially driven by stronger business activity as the public sector returned to work and schools began to return to in-class learning. Product sales in the second quarter were up 6% relative to the prior year period, driven by stronger demand for core supply product categories, workspaces and technology. Service revenue in the first quarter was up 8%, largely related to stronger demand for managed print and fulfillment, as well as copy and print services in both BSD and Retail Divisions. The Company reported operating loss of $78 million in the second quarter of 2021, compared to operating loss of $456 million in the prior year period. GAAP operating results in the second quarter included $122 million of charges including $115 million of non-cash asset impairment charges, and $7 million in net merger, restructuring and other operating costs. Asset impairment charges of $115 million in the second quarter of 2021 included $114 million related to impairment of goodwill and other intangible assets at CompuCom, largely related to the macroeconomic effects of COVID-19 on current business conditions. Net merger, restructuring and other operating costs of $7 million were primarily associated with the planned separation of B2B operations. Net loss was $88 million, or $(1.62) per diluted share in the second quarter of 2021, compared to net loss of $439 million, or $(8.19) per diluted share in the second quarter of 2020.

At HH Global it is important to us that we ensure our organisation grows both responsibly and sustainably, therefore our Innovation with Purpose strategy continues to evolve. A key objective of this is to enhance and develop our holistic approach to Environmental, Social and Governance (ESG) activities. The ambitions of many organisations are yet to be distilled into targets in this area. HH Global is demonstrating genuine leadership by showing our clients, colleagues and suppliers the commitments we are making, relevant not only to our own operations but to the whole of our supply chain.

Due to an anticipated large gathering of people during the ongoing COVID-19 pandemic, out of an abundance of caution for the safety and health of our employees and the public, the Aug. 6, 2021, open session meeting of the U.S. Postal Service Board of Governors will now be conducted by live audio webcast only, with no in-person attendance. With no in-person attendance, the Postal Service is cancelling the previously scheduled public comment period that was to have been conducted following the adjournment of the meeting. The Board is expected to discuss the following items at the Aug. 6 meeting beginning at 9:00 a.m. ET: *Call to Order and Opening Remarks of the Chairman *Remarks of the Postmaster General and CEO *Approval of Minutes *Committee Reports *Quarterly Financial Report *Quarterly Service Performance Report *Approval of Tentative Agenda for November Meetings *Adjournment

S&P Global and IHS Markit announced an agreement to sell IHS Markit's Oil Price Information Services (OPIS); Coal, Metals and Mining; and PetroChem Wire businesses to News Corp in a cash transaction valued at approximately $1.150 billion. The sale is expected to be completed at the close of the merger between S&P Global and IHS Markit. The agreement marks the culmination of S&P Global and IHS Markit's previously announced decision to explore a divestiture of these businesses and represents an important milestone on the path to regulatory approval for the merger between S&P Global and IHS Markit.

Grainger reported results for the second quarter 2021 with sales of $3.2 billion, up 13.1% and up 15.0% on an organic, daily, constant currency basis compared to the second quarter 2020. Both the High-Touch Solutions N.A. and Endless Assortment segments produced strong top-line growth. Gross margin for the second quarter of 2021 was 35.0%, a 75 basis point decline over the prior year quarter driven by pandemic-related inventory adjustments recorded in the High-Touch Solutions N.A. segment. Reported operating earnings for the second quarter of 2021 of $334 million were up 62% versus the second quarter of 2020, primarily due to losses taken in the second quarter of 2020 related to the divested Fabory business.

Underlying revenue up 17% to £1,597m · Global Online Learning up 25% driven by strong growth in US Virtual Schools; modest growth in OPM with good underlying growth offset by discontinued programs.· Global Assessment grew 34% with growth across all divisions, following the closure of test centres and schools and exam cancellations in 2020. · North American Courseware up 2%, driven by a recovery in Canada which more than offset a 2% decline in US Higher Education Courseware. · International grew 8% with growth in courseware, clinical assessment and PTE following school, bookstore and test centre closures last year. Statutory results · Sales increased 7% to £1,597m (2020: £1,492m) reflecting underlying performance, partially offset by portfolio changes and currency movements. · Statutory operating profit £9m in H1 2021 (H1 2020: £107m), with the decrease due to the profit on disposal of Penguin Random House in 2020 and restructuring costs in 2021 partially offset by improved trading and reduced intangible charges. · Statutory EPS 2.3p (H1 2020: 6.3p).

S&P Global eported second quarter 2021 results with revenue of $2,106 million, an increase of 8% compared to the same period last year with every segment delivering revenue growth. Net income increased 1% to $798 million. Diluted earnings per share increased 1% to $3.30 primarily due to revenue growth partially offset by increased compensation-related expenses. Merger Update: S&P Global and IHS Markit continue to progress with merger integration planning. In addition, work with global regulators remains underway and we anticipate closing the transaction in the fourth quarter of 2021. Profit Margin: The Company's operating profit margin decreased 210 basis points to 54.8% primarily due to a challenging expense comparison to the second quarter of 2020 and increased compensation-related expenses, and costs related to the pending merger with IHS Markit in 2021.

Fourth-quarter service performance for July 1 through July 23 included: *First-Class Mail: Delivered 89.3 percent of First-Class Mail on time against the USPS service standard, an improvement of nearly 2 percentage points from the third quarter. *Marketing Mail: Delivered 92.4 percent of Marketing Mail on time against the USPS service standard, an improvement of 1.4 percentage points from the third quarter. *Periodicals: Delivered 82.8 percent of Periodicals on time against the USPS service standard, an improvement of 3.6 percentage points from the third quarter.

*Operating cash flow increased 16% to $59.3 billion for the trailing twelve months, compared with $51.2 billion for the trailing twelve months ended June 30, 2020. *Free cash flow decreased to $12.1 billion for the trailing twelve months, compared with $31.9 billion for the trailing twelve months ended June 30, 2020. *Net sales increased 27% to $113.1 billion in the second quarter, compared with $88.9 billion in second quarter 2020. Excluding the $2.5 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 24% compared with second quarter 2020. *Operating income increased to $7.7 billion in the second quarter, compared with $5.8 billion in second quarter 2020. *Net income increased to $7.8 billion in the second quarter, or $15.12 per diluted share, compared with $5.2 billion, or $10.30 per diluted share, in second quarter 2020.

The theory among publishers that book sales rose last year because people were reading more has been borne out in part by a survey recently released by the U.S. Department of Labor. According to the American Time Use survey, reading among people 15 years old and up increased by 21% in the May-December period in 2020 over the same period in 2019. The data shows that reading of all kinds increased from just under 17 minutes per day in 2019 in the same timeframe to just over 20 minutes in the comparable period last year. The biggest increase in daily reading came among 20 to 34 year-olds and in readers over 65. People older than 75 spent by far the most time reading last year (and every year for that matter), reading an average of 55 minutes per day in the 2020 May-December period.

In the first half of 2021, Group revenue totalled €2,076 million, up 5% on a like-for-like basis. Group recurring EBIT in the first half of the year totalled €3 million, up sharply by €221 million compared to a negative €218 million in first-half 2020. Lagardère Publishing recorded decade-high recurring EBIT of €110 million (€27 million in first-half 2020), with Lagardère Travel Retail reporting recurring EBIT of -€96 million, versus -€209 million in first-half 2020. The Group reported a loss before finance costs and tax of €117 million in first-half 2021 (loss of €397 million in first-half 2020), including non-recurring/non-operating items for a net negative amount of €61 million. The loss – Group share was €171 million, versus a loss – Group share of €422 million in first-half 2020.

As expected in our most recent postal update in June, the Postal Regulatory Commission (PRC) has approved the postal rate increase that was proposed by the USPS. The PRC spent about a month reviewing the USPS’s proposal before formally announcing its approval on Monday, July 19th. Per the PRC, it confirmed that the planned price adjustments for all market dominant classes, including workshare discounts, are consistent with applicable regulations and applicable Commission directives and orders. The PRC also concluded that the planned classification changes, with some minor revisions described in the PRC Order, are consistent with applicable law. The new postal rates will become effective August 29th, and our analysis of numerous postage estimates shows that postage increases for Marketing Mail to be averaging about 8.6% for Flats and 6.6% for Letters. Mailings with in-home dates up to September 13th will pay current postage rates, with postage being paid on August 27th. This postal rate increase is unprecedented, with the PRC sanctioning and approving the USPS to increase rates higher than the 12-month rolling consumer price index (CPI). In effect, these rates will be about 4 times higher than the current CPI and are contrary to the rate increase guidelines laid out in the 2006 Postal Accountability and Enhancement Act.

MIDLAND has just launched a new and innovative Specialty Media catalog for offset, digital and inkjet sheet fed printers. The all-inclusive catalog merges major sheet fed print technologies into one unique publication. Offset, HP Indigo, Dry Toner and Inkjet substrates are all featured within one book. “The Specialty Media catalog is a one-stop shop product guide that gives our customers the opportunity to find the correct printable substrate without having to thumb through multiple catalogs,” comments David Field, General Manager of Midland’s Specialty Paper & Film Division. The new product guide features synthetic papers, rigid media, window and walls films, pressure sensitive papers, integrated substrates, magnetic media and specialty paper products. “These are all products that are of high value to our customers and their end users and are application driven” added Field. The catalog is segmented into the following categories: • Non-Adhesive Synthetic • Adhesive Synthetic • Adhesive Paper • Specialty Substrates. “Our customers are going to be blown away by this updated version of the Specialty Media Catalog”, said Mike Ratcliff, President of Midland’s Specialty Paper & Film Division. “This is more than just another catalog. It is a tool for our customers to use for their customers for all of their high value print projects – it gives them a window into what’s possible”.

Sustainability is playing an increasingly larger role in the lives of young consumers, particularly among Millennials (born 1981-1996) and Generation Z (born 1997 and after). This trend is expected to continue as Gen Z consumers enter the workforce and start setting up their own households. As a result, the Paper and Packaging Board’s “How Life Unfolds” Campaign® is launching a new sustainability-focused effort to more appealing to young consumers. “As our consumer audience begins to age up, we need to keep reaching out to younger generations with important sustainability messaging,” explains Mary Anne Hansan, president of the Paper and Packaging Board. “They are worried about the environment, have heard stories about recycling not being worthwhile and have misperceptions about the health of U.S. forests. That’s why we’ve created a campaign set to reach a younger audience with content that is both entertaining and educational.” The new effort is based in part on findings from The Hartman Group’s “Sustainability 2019: Beyond Business as Usual” study of American consumers aged 18-73. Researchers found that sustainability is “a cultural value and defining concern for today’s consumer,” and that “consumers increasingly hold companies and governments responsible for sustainability than individuals,” even as they adjust their own behaviors to lessen their personal environmental footprint.

Target Corporation and Ulta Beauty shared details about the highly anticipated Ulta Beauty at Target, slated to begin rolling out in more than 100 Target stores nationwide and online with more than 50 specially curated prestige brands this August. The differentiated retail concept pairs Ulta Beauty's industry authority with Target's beloved experience, bringing a one-of-a-kind beauty experience to millions of guests. The companies are planning for these experiential "shop-in-shops" to reach a total of 800 Target stores across the country in the coming years. "As the retail and beauty industries continue to evolve, we take pride in being leaders that continually redefine and elevate guest experiences. Ulta Beauty at Target reflects our commitment to drive the industry forward and keep our guests meaningfully engaged," said Kecia Steelman, chief operating officer, Ulta Beauty. "Our dynamic teams have worked together to create a disruptive, exciting way to discover prestige beauty with a thoughtfully curated assortment and knowledgeable, approachable experts to serve as beauty gurus."

Fourth-quarter service performance for July 1 through July 16 included: *First-Class Mail: Delivered 89.3 percent of First-Class Mail on time against the USPS service standard, an improvement of nearly 2 percentage points from the third quarter. *Marketing Mail: Delivered 92.0 percent of Marketing Mail on time against the USPS service standard, an improvement of 1 percentage point from the third quarter. *Periodicals: Delivered 83.0 percent of Periodicals on time against the USPS service standard, an improvement of nearly 4 percentage points from the third quarter. The Postal Service’s continued improvement despite seasonal effects from the Independence Day federal holiday anticipated during for the period of July 10 to July 16.

Few people in the industry have been willing to venture a prediction on how the book business will finish 2021, but in a July 21 presentation on industry print unit sales through the first half of the year, NPD BookScan analyst Kristen McLean laid out three possible scenarios. All outcomes assume that the rapid gains in print unit sales the industry has posted so far this year will slow in the last six months of 2021. Indeed, McLean noted that, since the end of what she called an historic first quarter, the year-to-date growth rate has lost about one point per week; in other words, growth was up 29% at the close of the first quarter and ahead 18% at the end of the second quarter. At present, she said, sales appear to be steadily gliding back to a more normal performance.

Total revenues across all categories for May 2021 were up 11.1% as compared to May 2020, coming in at $1.1 billion. Year to date revenues were up 23.4%, at $5.1 billion for the first five months of the year. Trade (Consumer Books) sales were up 7.9% in May, coming in at $685.2 million, and up 23.2% year to date, with $3.5 billion in revenue. In terms of physical paper format revenues during the month of May, in the Trade (Consumer Books) category, Hardback revenues were up 18.7%, coming in at $252.8 million; Paperbacks were up 14.5%, with $229.9 million in revenue; Mass Market was down 15.1% to $19.2 million; and Board Books were down 4.8%, with $9.0 million in revenue.

There is a worrying trend from organisations who increasingly want to move their customer communications online, particularly bills and statements. Typically, this decision is made for cost reasons, but misleading claims about the environment are being used all too often instead. This is commonly referred to as Greenwashing. A study, conducted by the not-for-profit organisation Two Sides and independent research company Toluna, aims to understand changing consumer perceptions towards print and paper. The study found that consumers overwhelmingly want the right to choose how they receive their communications (digitally or printed) from organisations. 76% of UK consumers (74% EU) want this choice. Defaulting people online without a choice to save cost, will impact those most vulnerable and at risk in our communities. In the UK, 6.3% of all adults have never used the internet (Office of National Statistics, 2020). Often, it is the most vulnerable members of society that depend on traditional, postal, transactional mail. The move to an online only society risks leaving older people, the disabled, rural dwellers and those on low incomes disconnected.

For the eighth consecutive year, Midland Paper is a co-sponsor for the Inkjet Summit 2021 to be held July 26 – 28, 2021 in Austin, Texas. The Inkjet Summit is an exclusive invitation-only, hosted event designed for senior managers and business executives who want to understand how inkjet technology trends, software, consumables and finishing solutions will impact their businesses and help them shape their strategies for the future. David Field, Midland Paper’s General Manager for Specialty Paper & Films, will present a ‘Case Study’ illustrating effective print media options across a multitude of different production inkjet platforms. “The production inkjet equipment market continues to expand with OEM press announcements unveiled at a rapid rate, including a whole new wave of sheet fed inkjet options. In addition, new OEM inkjet presses are being developed for web and sheet fed configurations which adds to the complexity for printers who are aiming to make an inkjet equipment investment decision.” “We offer consultative advice for printers who plan on entering the production inkjet market. Midland Paper is truly OEM and Paper agnostic when it comes to objective advice in todays’ evolving production inkjet market”, quotes Mike Ratcliff, President of Midland Paper’s Specialty Paper & Film Division.

Bloomsbury experienced strong trading for the first four months of its financial year, with year-on-year sales growth of 28%, maintaining momentum from the prior year's outstanding performance. Consumer division revenues were 26% ahead of last year, with strong print and e-book sales. Adult revenues grew by 17% and Children's revenues by 32%. Bestsellers included Tom Kerridge's Outdoor Cooking, the Harry Potter series by J.K. Rowling, Sarah J. Maas' A Court of Silver Flames and Lisa Taddeo's Animal. UK Consumer print sales growth was ahead of the market.* Non-Consumer division revenue was 31% higher than last year, with Academic and Professional growth of 35%, driven by continued strong demand for Bloomsbury Digital Resources, which was 41% ahead of last year. Special Interest revenue increased by 23%. In June, our revenue benefitted from the two most recent strategic acquisitions: Head of Zeus delivered £859k, within Consumer Adult, and Red Globe Press delivered £478k, within Non-Consumer Academic and Professional.

The Postal Service’s proposal appears to target mail that consistently fails to meet service performance goals and has the most opportunity for improvement. However, the Commission is concerned that the Postal Service did not conduct any operational or pilot testing of its proposed service standard changes. The Commission finds this lack of testing problematic as mail processing is complex and requires timely execution to provide reliable service performance. In addition, the Commission notes that the Postal Service’s estimated annual cost savings for the proposed service standard changes do not indicate much improvement, if any, to the Postal Service’s current financial condition. Rather, the estimated cost savings from extending the service standard would be eliminated by additional costs associated with the growth in packages. Therefore, it is not clear that the tradeoff between financial viability and maintaining high-quality service standards is reasonable. Likewise, the Postal Service concludes that any reduction in First-Class Mail and Periodical volume due to its proposal will be modest, but that conclusion is premised upon analysis of customer satisfaction and demand that relies on numerous unproven assumptions. The Commission encourages the Postal Service to consider the full recommendations outlined in its advisory opinion prior to implementing its plan. The Postal Service should: *Regularly update and publicly communicate realistic targets throughout its implementation *Ensure cost savings are realized but balanced with and not prioritized over maintaining high-quality service standards *Closely monitor the implementation of its plan to determine whether the new potential surface transportation network actually increases efficiency and capacity utilization *Monitor more closely customer satisfaction going forward, particularly for customer and mailer segments that the change may most impact *Be more transparent in the feedback it receives from stakeholders and keep its plan flexible to the needs of customers, stakeholders, and the general public *Not rely upon its filed econometric analysis to estimate the impact of the proposed service changes on volume

Bookstore sales continued their strong rebound from the lows of spring 2020. According to preliminary estimates released by the U.S. Census Bureau, bookstore sales soared 130% in May over May 2020, rising to $632 million. Last April and May saw the weakest bookstore sales performances of 2020, with sales in May 2020 totaling just $275 million. Compared to May 2019, May sales this year were down 9.2%.

The U.S. Postal Service reported initial fourth-quarter service delivery performance data that showed continued improvement from the third quarter across all First-Class, Marketing and Periodical mail categories. Fourth quarter service performance for July 1 through July 9 included: *First-Class Mail: Delivered 90.6 percent of First-Class Mail on time against the USPS service standard, an improvement of more than 3 percentage points from the third quarter. *Marketing Mail: Delivered 91.6 percent of Marketing Mail on time against the USPS service standard, consistent with third quarter performance. *Periodicals: Delivered 84.7 percent of Periodicals on time against the USPS service standard, an improvement of more than 5 percentage points from the third quarter.

The streak is over. The long run of unit sales of print books posting weekly sales gains over the comparable week in 2020 came to an end last week, with units falling 1.3% compared to the week ending July 11, 2020, at outlets the report to NPD BookScan. The decline is the result of continued pressure on nonfiction sales, particularly adult nonfiction, the industry’s largest category. Print sales fell 10.2% compared to a year ago in adult nonfiction. Last year at this time, books on race and social justice spurred by the #blackoutbestsellerlist campaign continued to sell in large numbers, taking up six of the top ten slots at the time. And John Bolton’s The Room Where It Happened, which was #1 on the category bestseller list, sold nearly 57,000 copies in the comparable week last year.

L Brands, Inc. reported net sales of $2.351 billion for the nine weeks ended July 3, 2021, compared to net sales of $1.369 billion for the nine weeks ended July 4, 2020. Second quarter 2020 sales were negatively impacted by the closure of stores for approximately half the quarter due to the COVID-19 pandemic. Sales for the first nine weeks of the second quarter of 2021 increased 12 percent compared to sales of $2.101 billion for the same period of 2019. Bath & Body Works net sales were $1.239 billion for the nine-week period ended July 3, 2021, compared to net sales of $743.5 million for the nine weeks ended July 4, 2020. Bath & Body Works sales for the first nine weeks of the second quarter of 2021 increased 48 percent compared to the same period of 2019. Victoria’s Secret net sales were $1.112 billion for the nine-week period ended July 3, 2021, compared to net sales of $625.7 million for the nine weeks ended July 4, 2020. Victoria’s Secret comparable sales for the first nine weeks of the second quarter of 2021 increased 3 percent compared to the same period in 2019.

Mail order and publishing executives once followed every hiccup within the U.S. Postal Service. Their businesses depended on it. Those days aren’t over for publishers, judging by an article that appeared last week in The Washington Post. Periodical rates could leap by 8% on Aug. 29, a potentially devastating hit to struggling community newspapers, forcing them to reduce staffs and distribution, critics say. Such a hike could be the tipping point for survival for those publishers, Paul Boyle, senior vice president at the News Media Alliance, told WaPo. However, the USPS contends the impact will not be that serious.

Nordstrom and ASOS announced that Nordstrom has acquired a minority interest in the Topshop, Topman, Miss Selfridge and HIIT brands. This investment will help drive the growth of these brands globally, setting the stage for Nordstrom and ASOS to sit alongside a new wider strategic partnership. This innovative partnership will involve unprecedented collaboration and alignment, redefining the traditional retail/wholesale model. Whilst ASOS will retain operational and creative control of the Topshop brands, a shared ownership model will ensure close collaboration between the U.S. retailer and ASOS, driving a stronger future for the iconic Topshop brands worldwide. Nordstrom is a leading multichannel retailer, with unmatched physical and digital reach in North America, operating two powerful brands with over 350 physical stores and sites that attract almost 2 billion annual visits. The retailer has been the exclusive distributer of Topshop and Topman in the U.S. since 2012 when they became the first to bring the brand to the U.S. market. Nordstrom will now have the exclusive multi-channel retail rights for Topshop and Topman in all of North America, including Canada and own a minority stake globally. The retailer will also become the only brick and mortar presence for these brands worldwide.

Hearst Magazines announced that Runner’s World is the recipient of two prestigious awards, a Pulitzer Prize and a National Magazine Award, both in the Feature Writing category, for “Twelve Minutes and a Life,” a story about the tragic killing of 25-year-old Ahmaud Arbery. The announcement was made by Hearst Magazines President Debi Chirichella. “Twelve Minutes and a Life,” published in Runner’s World’s September/October 2020 issue and written by contributor Mitchell S. Jackson, examines racism in running in America and recounts the last 12 minutes of the young Black man’s life as he was chased and fatally shot while jogging near his home. “Hearst has a long history of important reporting and storytelling in serving our communities,” said Hearst President and Chief Executive Officer Steve Swartz. “Runner’s World’s remarkable piece, covering a crucial topic and a devastating incident in the killing of Ahmaud Arbery, is a significant example of our duty as journalists to tell these stories. Congratulations to Mitchell S. Jackson and the Runner’s World team on these well-deserved honors from two of the most prestigious awards in our industry.”

In the first half of 2020, unit sales of print books surprised many in the industry by posting a 2.9% increase over the same period in 2019 at outlets that report to NPD BookScan, overcoming a slump in sales in early spring following the onset of the Covid-19 pandemic. Print sales finished 2020 up 8.2% over 2019, and that strong performance continued into 2021, with units jumping 18.5% in the first six months over the comparable period in 2020. With the exception of the juvenile nonfiction category, all the major publishing categories had double-digit sales increases in the first half of the year. Backlist had the strongest gains, up 21.4%, but frontlist sales were also solid, rising 12.4%. The increase in the first half of 2021 was led by the adult fiction category, where units rose 30.7%. The top seller in the category was Kristin Hannah’s The Four Winds, which sold more than 558,000 copies since its release in early February (see “2021 Bestselling Print Books [So Far],” p. 6). The other top sellers in adult fiction were a mix of new releases and backlist titles.

The U.S. Postal Service reported third quarter FY 2021 service performance improvements over the second quarter across First-Class Mail, Marketing Mail and Periodicals. The quarter was USPS’s strongest quarterly service performance for all mail categories since the third quarter of FY2020. Third quarter FY2021 (covering the weeks of April 1 through June 30) performance numbers include: *First-Class Mail: 87.5 percent of First-Class Mail delivered on time against the USPS service standard, a more than 9 percentage point increase over the second quarter. *Marketing Mail: 91.0 percent of Marketing Mail delivered on time against the USPS service standard, a nearly 6 percentage point increase over the second quarter. *Periodicals: 79.2 percent of Periodicals delivered on time against the USPS service standard, a nearly 8 percentage point increase over the second quarter.

Costco Wholesale Corporation reported net sales of $18.92 billion for the retail month of June, the five weeks ended July 4, 2021, an increase of 16.9 percent from $16.18 billion last year. For the forty-four weeks ended July 4, 2021, the Company reported net sales of $161.09 billion, an increase of 18.1 percent from $136.37 billion last year. This year’s June retail month had one fewer shopping day versus last year, due to the calendar shift of Memorial Day. This shift negatively impacted sales by approximately one and one-half to two percent.

Truck driver shortages, widespread port congestion, and skyrocketing container costs are among the biggest challenges facing the book industry supply chain for the rest of the year and into 2022, panelists on a July 6 BISG webinar looking at freight and shipping issues agreed. Book International’s v-p of global business development David Hetherington said that, in all his time in the book business, he has never seen such pressure building in the supply chain as is happening now. He predicted that things could get worse as more buying shifts online and more packages need to go directly to consumers’ homes. Hetherington, along with Ryan Forbes of Readerlink and Susie Scally of the international logistics firm Meadows Wye, also agreed that now is not the time for publishers to negotiate with trucking companies or the major delivery services. The lack of freight capacity is a real issue, Forbes said, and companies don’t need to yield on price.

Unit sales of print books rose 6.4% in the week ended June 26, 2021, over the comparable week in 2020, at outlets that report to NPD BookScan. Adult fiction sales increased 28.1%, and the gains were achieved without any new releases making a splash. The President’s Daughter by James Patterson and Bill Clinton remained #1 on the category list, selling more than 30,000 copies. Two books released early this spring had good weeks: People We Meet on Vacation by Emily Henry sold more than 21,000 copies, good enough for fourth place on the adult fiction list, and Malibu Rising by Taylor Jenkins Reid was fifth, selling more than 18,000 copies. YA fiction sales jumped 49.6% over the week ended June 27, 2020, as books propelled by exposure on #BookTok continued to do well. Two such books, They Both Die at the End by Adam Silvera and We Were Liars by E. Lockhart, finished first and second on this week’s category list, selling more than 17,000 copies and nearly 9,000 copies, respectively. The juvenile fiction category’s 11.2% sales increase was due in part to a new book: Alice Schertle’s Time for School, Little Blue Truck was #1 in the category, selling just over 24,000 copies.

The U.S. Postal Service provided updated third quarter service performance data through the week of June 25th which shows consistent and improved delivery performance across all First-Class, Marketing and Periodical mail categories since the second quarter. Performance numbers below include the weeks of April 1 through June 25: *First-Class Mail: 87.5 percent of First-Class Mail delivered on-time against the USPS service standard, a more than 9 percent increase over the second quarter. *Marketing Mail: 90.9 percent of Marketing Mail delivered on time against the USPS service standard, a nearly 6 percent increase over the second quarter. *Periodicals: 79.2 percent of Periodicals delivered on time against the USPS service standard, a nearly 8 percent increase over the second quarter.

Fiction rode to the rescue again to lift up unit sales of print books 6.4% last week over the week ended June 27, 2020, at outlets that report to NPD BookScan. Adult fiction sales increased 28.1%, young adult fiction sales jumped 49.6%, and juvenile fiction sales were up 11.2% over last year. The jumps offset continued weakness in adult nonfiction, the industry’s biggest category, where sales fell 8.7%. The big gain in adult fiction unit sales was notable since the increase was achieved without any new releases making a splash. The President’s Daughter by James Patterson and Bill Clinton remained #1 on the category list, selling more than 30,000 copies. Two books released early this spring had good weeks: People We Meet on Vacation by Emily Henry, released on May 11, sold over 21,000 copies, good enough for fourth place on the adult fiction list; and Malibu Rising by Taylor Jenkins Reid, which came out on June 1, was fifth on the list, selling over 18,000 copies.

The Book Manufacturers Institute (BMI) recently commissioned well-known pollster Frank Luntz to find out how parents view the effectiveness of various learning materials, including books, textbooks and workbooks. The most definitive conclusion was that virtually every parent wants physical materials as part of student learning. 85% of parents want physical books in some form, and 88% think they are important and essential learning tools. In summarizing the study results, Luntz said, “With parents keenly aware of the shortcomings of online learning thanks to the pandemic, this finding is only surprising in its intensity and uniformity. Every demographic and geographic subgroup agrees: printed materials are essential to student learning.”

Combined sales of comics periodicals and graphic novels in North America continued to climb in 2020, reaching approximately $1.28 billion, according to a joint estimate by pop culture trade news sites ICv2 and Comichron. The new estimate represents a 6% increase over 2019 combined sales. ICv2 CEO Milton Griepp said that in the face of a global pandemic, lockdowns, and widespread economic dislocation, consumer demand for comics and graphic novels continued to grow. “The challenges of retailing in the pandemic had profound impacts on the market, including the acceleration of trends that have been in place for years,” he reported.

WBA third quarter sales from continuing operations increased 12.1 percent from the year-ago quarter to $34.0 billion, an increase of 10.4 percent on a constant currency basis1, reflecting strong growth in the International segment, aided by the formation of the company's joint venture in Germany during the fiscal year, and solid growth in the United States segment. Operating income from continuing operations was $1.1 billion in the third quarter, compared with a loss of $1.7 billion in the year-ago quarter, primarily due to $2 billion non-cash impairment charges in the year-ago quarter related to goodwill and intangible assets in Boots UK. Total net earnings attributable to WBA were $1.2 billion compared with a loss of $1.7 billion in the year-ago quarter, reflecting non-cash impairment charges in the previous period, increased operating income in both segments and earnings from the company's equity method investment related to Option Care Health; this was partially offset by a higher effective tax rate driven by discrete items in the year-ago quarter. Total adjusted net earnings in constant currency increased 79.5 percent to $1.3 billion.

Fourth quarter operating results increased primarily due to volume growth and disciplined revenue and portfolio management. These factors were partially offset by costs to support strong demand, increased variable compensation expense, and higher labor rates. Net results include a loss on debt extinguishment of $393 million ($297 million net of tax). FedEx Express fourth quarter operating income more than doubled year over year, driven by exceptional growth in international export and U.S. domestic package services. Operating margin increased 260 basis points (an adjusted 340 basis points; adjusted measures exclude the items listed below for the applicable fiscal year), as improved network optimization and asset utilization enabled profit growth from record fourth quarter volume.

Dear Industry Executive: As you know, the ACMA is challenging the legality of the Postal Service’s recently-granted rate authority in the US Court of Appeals. While our case will be heard September 13th, a decision is not expected until later this year or early 2022, well after these new rates have taken effect. The ACMA is considering asking the Court to stay this order until the legality of it can be adjudicated. Part of evaluating the wisdom of such a stay will depend on identifying mailers who are facing irreparable harm from this price increase. We need companies willing to show such harm to the Court. If you are considering making significant circulation cuts, dropping titles, cutting employment, leaving the mail or any other major shifts in your business operations in response to these new postage rates, please let us know by close of business today. We will be happy to share an outline of what would need to be submitted to the Court for you to consider. Click read more below for additional information.

The Association of American Publishers (AAP) released its StatShot report for April 2021 reflecting reported revenue for all tracked categories, including Trade (Consumer Books), K-12 Instructional Materials, Higher Education Course Materials, and Professional Publishing. Total revenues across all categories for April 2021 were up 43.7% as compared to April 2020, coming in at $994.1 million. Year to date revenues were up 27.0%, at $4.1 billion for the first four months of the year. Click read more below for details

HH Global has been featured in The Sunday Times Sustainable Innovation report, which explores how greentech startups are improving supply chain transparency, how consumer technology is embracing the circular economy, and how innovators are working towards a greener future for work, cities, and travel. HH Global’s responsibility for governing sustainability and ESG within a managed supply chain was the focus of a featured article titled ‘Brands transform in the decade of action’. Kevin Dunckley, Chief Sustainability & Innovation Officer at HH Global, explains how our inclusion in this thought leadership piece is a clear endorsement of our credibility in this important field.

The U.S. Postal Service provided updated third quarter service performance data through the week of June 18th which shows performance improvement continues to hold steady since the second quarter. Performance numbers below include the weeks of April 1 through June 18: *First-Class Mail: 87.5 percent of First-Class Mail delivered on-time against the USPS service standard, an over 9 percent increase over the second quarter. *Marketing Mail: 90.8 percent of Marketing Mail delivered on time against the USPS service standard, a nearly 6 percent increase over the second quarter. *Periodicals: 79.1 percent of Periodicals delivered on time against the USPS service standard, a nearly 8 percent increase over the second quarter.

Despite nonfiction sales being down in all major categories, unit sales of print books managed to eke out a 1.1% increase last week over the week ended June 20, 2020 in outlets that report to NPD BookScan Solid sales of backlist titles drove up unit sales 25.7% in the young adult fiction segment while adult fiction sales increased 16% in the week and juvenile fiction sales rose 2.2%. Only one new release made an impact on adult fiction sales. The Maidens by Alex Michaelides sold close to 25,000 copies in its first week on sale, landing it in second place on the adult fiction bestseller list.

The Book Manufacturers’ Institute (BMI), has released this year’s State of the Book Industry Report, to inform business leadership across the supply chain on current market data and emerging trends. Last year’s report was done just as many COVID lockdowns had started. It was hard to make any predictions about what the rest of 2020 would look like. Now that we are fully into 2021, this year’s report looks back at a year like none other and points to what is coming down the road. The full report is offered for free as a benefit to members of BMI; interested parties in the print sector can request an executive summary by contacting BMI directly. Topics covered in the 2021 State of the Book Industry report include: *Overall economic trends and statistics *Factors impacting book manufacturers, such as employment *Key trends in book readership, consumption, and demand *Key Management Issues for Book Manufacturers in 2021

Amazon announced 14 new renewable energy projects in the U.S., Canada, Finland, and Spain to advance its ambitious goal to power 100% of company activities with renewable energy by 2025—five years ahead of the original target of 2030. The new projects bring Amazon’s total renewable energy investments to date to 10 gigawatts (GW) of electricity production capacity—enough to power 2.5 million U.S. homes. Amazon is now the largest corporate buyer of renewable energy in the U.S. and the world. The latest utility-scale solar and wind projects will supply renewable energy for Amazon’s corporate offices, fulfillment centers, and Amazon Web Services (AWS) data centers that support millions of customers globally. These projects will also help Amazon meet its commitment to produce enough renewable energy to cover the electricity used by all Echo devices in use. These new projects support hundreds of jobs while providing hundreds of millions of dollars of investment in local communities.

Publishing sales at IDW Media Holdings rose 27.6% in the quarter ended April 30, 2021 over the comparable period in 2020. Sales in the group, which includes the graphic novel imprints IDW and Top Shelf, increased to $6.0 million in the quarter from $4.7 million in the second quarter of fiscal 2020. The company said the jump in sales was led by the revival of the direct market channel, which had largely shut last spring with the outbreak of the pandemic. Direct-to-consumer sales were also up in the quarter, but digital sale fell. Among the titles and series that sold well in the period were Locke & Key/The Sandman Universe crossover, Sonic the Hedgehog, X-Men, and TMNT.

2020 saw dramatic changes to the way society lives. How people work and socialise might have changed forever. Consumption habits have also changed, which has had major impacts on the packaging industry. In a year when some industries struggled, the packaging industry reported increased volumes and revenue, in part, due to a surge in online shopping. But consumers are conscious of their impact on the environment and are demanding more sustainable packaging choices to be used. A recent survey shows that UK consumers believe paper-based packaging to be better for the environment and is the preferred packaging choice for many. The study, commissioned by not-for-profit organisation Two Sides and conducted by independent research company Toluna, aims to understand changing consumer perceptions towards print, paper and paper-based packaging. See more at: https://www.twosides.info/UK/packaging-preferences-unpacked/?utm_medium=email&utm_campaign=TSUK%20Packaging%20Preferences%20Unpacked&utm_content=TSUK%20Packaging%20Preferences%20Unpacked+CID_683d50ad23c868cdb1a689f14452563c&utm_source=Email%20marketing%20software&utm_term=Read%20More

HH Global is pleased to announce the signing of an agreement on Monday 21 June 2021 to fully acquire Adare International from the private equity firm Endless LLP. Adare is a British-headquartered provider of marketing services with strong procurement, creative and data offerings. The combined global business will consist of more than 4,000 employees across more than 50 countries, generating approximately $2.1bn in annual sales as HH Global consolidates our leading position in the sector. Consistent with the recent merger with InnerWorkings, the fundamental rationale for the deal is the strategic fit, in that the businesses are tremendously complementary. Geographically, the acquisition enhances our international footprint and scope, particularly in Europe and Latin America. From a solutions perspective, Adare has an excellent procurement offering, as well as bringing expanded content and interactive service lines which we’re excited about taking to our clients.

Unit sales of print books rose 4.8% in the week ended June 11, 2021, over the comparable week in 2020, at outlets that report to NPD BookScan. Adult fiction led the way, with sales up 23.2% over the week ended June 12, 2020. The top book was The President’s Daughter by James Patterson and Bill Clinton, which sold more than 60,000 copies in its first week. Other new novels that did well included The Texan Code by Diana Palmer, which sold more than 18,000 copies, and Don Bentley’s Tom Clancy: Target Acquired, which sold nearly 16,000 copies. YA fiction print sales increased 17.9% in the most recent week, largely driven by backlist titles. They Both Die at the End by Adam Silvera remained the category’s top title, selling more than 14,000 copies. Leigh Bardugo’s books continue to be steady sellers, led by Shadow and Bone, the basis for the Netflix show of the same name: the book sold nearly 7,000 copies, and six other Bardugo books sold a total of about 25,000 copies.

U.S. ad spending continued to rebound in May, according to a new, enriched database from Standard Media Index. The data, which is derived from SMI's expanded pool of actual media buys contributed by major agency holding companies, includes IPG Mediabrands, which announced in February that it was rejoining SMI's cooperative pool, and which beginning this month has been reincorporated. The addition of IPG Mediabrands means that SMI's U.S. database is more representative and less modeled for total media spending volume among the major agency holding companies. The new data, meanwhile, shows the U.S. ad market surged 56% in May, following a 53% gain in April and a 22% increase in March, which was the first to show a year-over-year rebound from the pandemic-influenced advertising recession, which began a year earlier.

The U.S. Postal Service provided updated third quarter service performance data through the week of June 11th which shows steady performance improvement since the second quarter. Performance numbers below include the weeks of April 1 through June 11: *First-Class Mail: 87.60 percent of First-Class Mail delivered on-time against the USPS service standard, an over 9 percent increase over the second quarter. *Marketing Mail: 90.40 percent of Marketing Mail delivered on time against the USPS service standard, an over 5 percent increase over the second quarter. *Periodicals: 78.80 percent of Periodicals delivered on time against the USPS service standard, an over 7 percent increase over the second quarter.

Eight years after it bought McGraw-Hill Education for $2.4 billion, Apollo Global Management has reached an agreement to sell the company to another private equity firm, Platinum Equity, for $4.5 billion. The proposed purchase comes about a year after MH and Cengage called off their merger following opposition from the Justice Department. When Apollo acquired the publisher, MHE had revenue of about $2 billion; in the fiscal year ended March 31, 2020, company revenue was $1.58 billion and it had an operating loss of $135.3 million, with EBITDA (earnings before interest, taxes, depreciation and amortization) of $372.9 million. Results for fiscal 2021 have not been released, but for the nine months ended December 31, 2020, revenue fell 5.4%, to $1.22 billion; still, the company posted net income of $118 million, up from a loss of $28.3 million. EBITDA in the nine months rose 6.4%, to $439.9 million.