South Carolina State Board of Education Approves Savvas Learning Company’s enVision Mathematics and Experience Math Programs for Grades K-5

FY23 second quarter service performance scores covering Jan. 1 through Jan.13 included: *First-Class Mail: 90.8% of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal first quarter. *Marketing Mail: 93.9% of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal first quarter. *Periodicals: 84.7% of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal first quarter.

*Net sales increased 10.1% to $2.5 billion compared to $2.3 billion in the second quarter of fiscal 2022 primarily due to increased comparable sales, strong new store performance, and growth in other revenue. *Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 8.0% compared to an increase of 14.4% in the second quarter of fiscal 2022, driven by a 9.0% increase in transactions and a 1.0% decrease in average ticket. *Gross profit increased 7.1% to $993.6 million compared to $928.2 million in the second quarter of fiscal 2022. As a percentage of net sales, gross profit decreased to 39.3% compared to 40.4% in the second quarter of fiscal 2022, primarily due to lower merchandise margin, higher inventory shrink, and higher supply chain costs, partially offset by strong growth in other revenue and leverage of store fixed costs. *Operating income increased to $391.6 million, or 15.5% of net sales, compared to $391.4 million, or 17.0% of net sales. *Net income increased to $300.1 million compared to $295.7 million.

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.