As you are most likely aware, the packaging industry and much of North America has faced significant shipping and logistics challenges over the past several months. Several factors such as demand for freight services outstripping the number of trucks on the road, inclement weather conditions, and the implementation of the new Electronic Logging Device (ELD) regulations in December 2017, have collectively compounded the issue of imbalance in the truck and driver supply. The ELD mandate will have an impact on freight costs. Most carriers that have implemented ELDs have reported productivity decreases of approximately 15% with fewer miles driven per day. It is also expected that some capacity may be taken out of the market due to the rising costs. The net result of all of this is high load to carrier ratios driving up freight rates which often change with little notice. Click Read More below for additional information.

Fourth Quarter Fiscal 2023 - Financial Results: *Net sales of $4.3 billion were up 1% compared to last year, inclusive of an estimated 2 percentage points of negative impact from the sale of Gap China. The addition of the 53rd week contributed approximately 4 percentage points of growth to the fourth quarter. -Comparable sales were flat year-over-year. -Store sales increased 4% compared to last year. -Online sales decreased 2% compared to last year and represented 40% of total net sales. *Gross margin was 38.9%, an increase of 530 basis points versus last year. -Merchandise margin increased 500 basis points versus last year primarily driven by lower commodity costs and improved promotional activity during the quarter. -Rent, occupancy, and depreciation (ROD) as a percent of sales leveraged 30 basis points versus last year. *Net income of $185 million; diluted earnings per share of $0.49.

Bonnier LLC, a media company respected for its iconic publications in the marine category, has restructured its business across all operations to prioritize experiential events as its growth engine for the future. The Florida-based company is harnessing the power of media as a means to accelerate consumer interactions across a wide spectrum of outdoor activities. With its new mission to fuel the passion of outdoor enthusiasts, Bonnier is reshaping itself to become the nation’s leading outdoor adventure company. “We see ourselves almost back in startup mode,” said Dr. Jens Mueffelmann, Executive Chairman. “We’re taking on the mindset of a new company with a new mission and branding, a new leadership team and investors, a new structure and way of working, and a new future. We are now fully focused on growth. Game time!” In adopting its new “We Are Outdoor Adventure” branding, Bonnier is doubling down on its core mission: to fuel passion for fishing, boating, sailing, motorsports, hunting and travel. This mission is also reflected in the company’s new corporate website, bonniercorp.com, launched this month, which showcases Bonnier’s integrated brands and category dominance.