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  • Dollar Tree, Inc. Reports Record First Quarter Results

    End User News, |

    5/24/2013 12:00:00 AM
    Dollar Tree, Inc., North America's leading operator of discount variety stores selling everything for $1 or less, reported its results for the quarter ended May 4, 2013 ("first quarter"). Consolidated net sales for the first quarter were a record $1.87 billion, an 8.3% increase compared to $1.72 billion reported for the quarter ended April 28, 2012 ("first quarter 2012"). Comparable store sales increased 2.1%, on top of a 5.6% increase for the first quarter 2012.

    Earnings per diluted share for the first quarter were $0.59, an 18.0% increase compared to earnings per diluted share of $0.50 reported for the first quarter 2012.

    Highlights
    • Earnings per diluted share increased 18.0%, to $0.59
    • Consolidated net sales increased 8.3%, to $1.87 billion
    • Comparable store sales increased 2.1%
    • Operating margin increased 70 bps to 11.6%
  • Gap, Inc. Reports First Quarter Results

    End User News, |

    5/24/2013 12:00:00 AM
    Gap Inc. today reported that net sales for the first quarter, which ended May 4, 2013, increased 7 percent to $3.73 billion compared with $3.49 billion for the first quarter last year. Due to the 53rd week in fiscal year 2012, comparable sales for the first quarter of fiscal year 2013 are compared with the 13-week period ended May 5, 2012. On this basis, the company’s first quarter comparable sales increased 2 percent compared with a 4 percent increase in the first quarter last year.

    First quarter diluted earnings per share increased to $0.71 compared with $0.47 last year. The fiscal year 2013 first quarter diluted earnings per share included a positive impact from the calendar shift created by the 53rd week in fiscal year 2012 and a benefit from the favorable resolution of tax positions in the quarter. The company reaffirmed its fiscal year 2013 diluted earnings per share guidance of $2.52 to $2.60.

    Highlights
    • Positive 2 percent comparable sales versus positive 4 percent last year, driven by strength in all three global brands: Gap, Old Navy, and Banana Republic.
    • Operating margin expanded 290 basis points to 14.2 percent.
    • Net earnings were up $100 million, or 43 percent, compared with the first quarter last year.
    • Gap Inc. opened five Athleta stores in the first quarter, for a total of 40 stores open to date.
    • The company opened nine Old Navy stores in Japan in the quarter, for a total of 10 stores open to date.
    • The company continued to expand its store base in China, opening two additional stores in the quarter, for a total of 49 stores.

  • Ralph Lauren Reports Better-Than-Expected Fourth Quarter and Full FY 2013 Profits

    End User News, |

    5/24/2013 12:00:00 AM
    Ralph Lauren Corporation today reported net income of $127 million, or $1.37 per diluted share, for the fourth quarter of Fiscal 2013, compared to net income of $94 million, or $0.99 per diluted share, for the fourth quarter of Fiscal 2012. In the fourth quarter of Fiscal 2013, the Company recorded approximately $6 million in pre-tax impairment and restructuring charges associated with winding down its Rugby operations. 

    Excluding the Rugby-related charges, net income rose 39% to $131 million and net income per diluted share increased 42% to $1.41 in the fourth quarter of Fiscal 2013. Net income for the full year Fiscal 2013 period was $750 million, or $8.00 per diluted share, compared to net income of $681 million, or $7.13 per diluted share, for Fiscal 2012. Excluding $19 million in Rugby-related charges, net income for Fiscal 2013 rose 12% to $762 million and net income per diluted share increased 14% to $8.13.

    Highlights
    • Fourth Quarter Net Revenues were $1.6 Billion, Reflecting Strong Retail Segment Growth
    • Consolidated Operating Income Rose 33% in the Fourth Quarter and Operating Margin Expanded 270 Basis Points to 11.1%
    • Earnings Per Diluted Share Increased 38% to $1.37 in the Fourth Quarter
    • Full Year Fiscal 2013 Net Revenues were $6.9 Billion and Diluted EPS Increased 12% to $8.00
  • Stein Mart, Inc. Reports First Quarter 2013 Financial Results

    End User News, |

    5/24/2013 12:00:00 AM
    Net income for the first quarter of 2013 was $14.7 million or $0.33 per diluted share compared to net income of $10.8 million or $0.25 per diluted share in 2012. EBITDA for the first quarter increased 29.3 percent to $31.2 million compared to $24.1 million in 2012 (see Note 1).

    Total sales for the first quarter of 2013 increased 3.8 percent to $321.4 million, while comparable store sales increased 1.2 percent.

    "We ended the quarter strongly with an 8.0 percent comp sales increase in April and a positive comp for the quarter, despite a slow start caused by colder than normal weather and the Easter calendar shift," said Jay Stein, Chief Executive Officer. "Our increased sales and a higher gross profit rate leveraged against relatively flat expenses drove our substantially higher earnings."

    Highlights
    • Diluted earnings per share of $0.33 compared to $0.25 last year.
    • Net income of $14.7 million increases 35.6 percent.
    • Comparable store sales up 1.2 percent.
  • Office Depot And OfficeMax Select The Boston Consulting Group to Provide Integration Support

    End User News, |

    5/24/2013 12:00:00 AM
    Office Depot, Inc. and OfficeMax Incorporated today announced that The Boston Consulting Group (BCG), a global management consulting firm, has been selected to provide integration support for the companies' proposed merger.

    The Boston Consulting Group will be responsible for working with the management teams from both companies to help define the priorities, vision, and guiding principles of the integration process. They will work closely with the two companies' integration leaders to establish a detailed integration plan that includes defining Day 1 priorities, preparing functional and synergy planning timelines, refining and establishing baseline and top-down synergies, conducting a culture assessment, and supporting the development of change management and communication plans.

    BCG will provide a dedicated, on-site support team comprised of senior leaders, strategic advisors, and functional experts with extensive integration experience and deep understanding of multi-channel distribution and the global office supply industry. BCG has helped global and multinational clients integrate hundreds of mergers and acquisitions in the last five years.
  • General Converting, Inc. Installs Speedmaster XL 106

    Printer News, |

    5/24/2013 12:00:00 AM
    When General Converting, Inc. (GCI), Bolingbrook, IL, found itself in the market for a new, 40" offset press, it aimed to purchase a state-of-the-art machine that would help the company to expand its presence in the markets it already served, and improve the cost structure to its customers. Because nothing less than the best available technology would do, the company turned to longtime supplier Heidelberg for a solution, ultimately choosing an 8-color Speedmaster XL 106 with Image Control and Inpress Control, full logistics, and workflow integration via Prinect Pressroom Manager. 
      
    Based in Bolingbrook, IL, privately held General Converting, Inc. designs and manufactures custom specialty folding cartons and display work primarily for customers in the candy and confectionery markets. Other markets include foods, cosmetics, clothing, housewares, pet products, pharmaceuticals, automotive, office and school, and DVD packaging. The company also provides die cutting, folding and gluing, as well as co-packing and fulfillment services. 
      
    "We needed a press that was capable of fast makeready and changeover to match the flexibility, creativity, and responsiveness our customers demand as their production requirements change," said Bob Ruebenson, company president. "Alongside our existing 6-color Speedmaster CD 102 LYL UV double coating press and our 7-color Speedmaster CD 102 UV perfecting press, the new Speedmaster XL 106 puts us in a position to anticipate customer needs and respond to scheduling and forecasting changes without delay, and without compromising on quality." 
  • Mail-Gard® Installs Océ JetStream® 2200 to Boost Capacity for High-Volume, Full-Color Variable Printing

    Printer News, |

    5/24/2013 12:00:00 AM
    Mail-Gard®, a division of IWCO Direct and one of the nation’s leading providers of critical communication recovery solutions, has increased its capacity for full-color (CMYK) variable data printing with the installation of an Océ JetStream® 2200 at its facility in Warminster, Pa. The printer is also equipped with dynamic magnetic ink character recognition (MICR) printing and perforation capabilities, giving Mail-Gard the flexibility to print a variety of job requirements on demand. The new press unit will be fully operational in June and complements the full-color capabilities currently present at IWCO Direct’s facilities in Chanhassen, Minn.

    The JetStream 2200 meets increasing demand for print-to-mail recovery plans that include full-color variable continuous print and multiple finishing requirements. Printing at 500 feet per minute with 600 DPI, Mail-Gard’s JetStream 2200 has dynamic perforation and MICR printing along with in-line tractor-feed hole punch capabilities. These features allow a variety of print applications such as checks, statements, invoices and more, to be printed within the same data stream, significantly reducing the time required to set up and produce print runs with multiple formats.
  • FiberMark's Product Chosen for Record-Breaking Ribbon Cutting Ceremony to Support Jersey Shore

    Producer News, |

    5/24/2013 12:00:00 AM
    FiberMark has announced that its Super Arcoflex® 1025 Cerulean Blue C2S, will be part of the ‘Jersey Shore Revitalization’ event, televised nationally on the Today Show this coming Friday. 
     
    On Friday, May 24th starting at 7AM, beaches along the Jersey Shore will be participating in the “Stronger than the Storm” ribbon cutting event. The kickoff event is a five mile ribbon cutting by Governor Chris Christie; in conjunction the Governor will be appearing on the Today Show as a guest host from 7-9AM announcing that the New Jersey beaches survived the storm and are open for business.  Other parts of the shore will hold similar ribbon cuttings spanning 100 miles worth of seafront.
     
    All ribbon, produced by FiberMark, will span across Seaside Heights, around the businesses, and down the shore. They believe it will break the Guinness World Record for ribbon cutting. For more information, the general kickoff of the website is www.strongerthanthestorm.com, initiated by the State of New Jersey and the New Jersey Economic Development Authority.
  • Production of Pulp and Paper in Sweden Down Slightly in First Quarter 2013

    Producer News, |

    5/24/2013 12:00:00 AM
    The Swedish Forest Agency said that in the first quarter of 2013 Swedish mills' production of paper and paperboard totaled 2.8 million tonnes, a decrease of 2.4 percent. The production of newsprint decreased the most by 12 percent, and printing paper fell by 3 percent.

    Other paper and paperboard grades increased slightly in the first quarter, the Agency said.

    Wood pulp production totaled 3 million tonnes — a decrease of 0.7 percent when compared to the first quarter of 2012. Production of sulphate pulp, which accounts for 64 percent of the total production of wood pulp, was 0.7 percent higher in the first quarter of 2013 compared with the same quarter 2012.

    Production of other grades of wood pulp decreased slightly, the Agency said.
  • Ilim Publishes its Q1 2013 results

    Producer News, |

    5/24/2013 12:00:00 AM
    Ilim Group reports that from January to March 2013, its Koryazhma Mill (Arkhangelsk Oblast) manufactured 276,000 tons of pulp and paper products — a 1% increase compared to the same period of 2012. This includes 93,000 tons of market pulp — a 2% increase against the first three months of 2012. Here are some additional highlights:
    • Market containerboard production gained 1%, reaching 126,000 tons.
    • Paper production lost 2% and amounted to 58,000 tons. The mill produced 20,000 tons of sack paper, 32,000 tons of offset paper, and 5,000 tons of wallpaper.
    • Pulp cooking increased by 1%, totaling 289,000 tons in the first quarter of 2013.
  • Stora Enso Inaugurates New Containerboard Machine

    Packaging News, |

    5/24/2013 12:00:00 AM
    Stora Enso’s transformation continues, and as a tangible proof of this strategic journey the new containerboard machine at Ostroleka in Poland was officially inaugurated on 23 May. The crown jewel of Ostroleka Mill, the new light-weight containerboard machine that went on stream in early 2013, runs exclusively on recovered fibre.

    “We have to continue to rethink, and the investment in Poland is another step in our transformation into a value-creating renewable materials company focusing on growth markets,” says Stora Enso CEO Jouko Karvinen.

    “The demand for modern light-weight corrugated packaging is increasing rapidly. The market in Central and Eastern Europe will grow by over 5% per year,” says Mats Nordlander, EVP, Renewable Packaging. “Our new BM 5 will strengthen our position in the growing markets of Central and Eastern Europe, and at the same time supporting our packaging growth strategy.”

    New containerboard machine – a sustainable investment
    Stora Enso’s integrated network for collecting paper for recycling in Poland, the new efficient power plant that uses more than 50% biofuels and this new state-of-the-art containerboard machine with low energy consumption will make Ostroleka the benchmark for cost and product offering in Europe.
  • Tetra Pak Wins Dupont's First Silver Anniversary Award

    Packaging News, |

    5/24/2013 12:00:00 AM
    Some industries have dazzling ceremonies to mark great achievement, such as the Academy Awards, Emmys and Grammys.  And others have a Hall of Fame, from every major sport to country music, rock and roll, astronauts and more.  But neither format comes to mind when you think about packaging. Yet many groundbreaking innovations in this field have - and continue to - usher in significant societal change that improves quality of life, health, safety, nutrition and more for billions of people around the world. 

    DuPont recognized this 25 years ago when they founded their prestigious Awards for Packaging Innovation - which is the industry's longest-running, global, independently judged celebration of innovation and collaboration and the closest thing it has to a Hall of Fame. DuPont Awards recognize seminal and inspirational achievements annually, and this year those earning top honors included Procter & Gamble for reducing waste in packaging by 30 percent in Gilette razors; BMC for partnering with a materials recovery firm to keep ink cartridges out of landfills; and AidPod for a kit that tucks between the bottles in soda crates to deliver life-saving medicine sub-Saharan villages.

    And to mark the program's 25th anniversary, Tetra Pak was honored with the first DuPont Silver Anniversary Award for Excellence in Continuing Innovation. 
  • Holmen to Build Wind Farm

    Environmental News, |

    5/24/2013 12:00:00 AM
    Together with investment fund Eurofideme 2, the Swedish pulp and paper company Holmen has decided to build a wind farm in the municipality of Norrtälje in a jointly-owned company. The annual production is an estimated 165 GWh and the wind farm is planned to commence operation in autumn 2014.

    Eurofideme 2, a renewable energy infrastructure fund of Mirova, has acquired half the shares in the company that Holmen founded to run wind power production on its own land in the municipality of Norrtälje near Hallsta Paper Mill. The decision now marks the start of installation of 17 wind turbines with an installed power capacity of a total 51 MW and an expected annual production of 165 GWh. An environmental permit has already been obtained. According to the plan, the turbines will be taken into operation in autumn 2014.

    “This project will exploit Holmen’s excellent opportunities to produce wind power on its own land,” says Holmen’s President and CEO Magnus Hall. “It is also an important element in our focus on renewable energy, set to increase our self-sufficiency in electricity.”
  • Paper and Electronic Communications – Two Sides of the Same Coin?

    Miscellaneous News, |

    5/24/2013 12:00:00 AM
    There are two sides to every story. This is precisely the point the aptly named non-profit organization Two Sides set out to make when it challenged the Paperless2013 campaign. The initiative, supported by big names like Google and Fujitsu, encouraged consumers to make the switch from paper to electronic communication this year.

    In response, Two Sides published an open letter challenging Google Chairman Eric Schmidt to reexamine the one-sided view that using paper to conduct business was better for the environment. Unlike the veiled “better for the environment” claims made by Paperless2013, Two Sides provided the following, along with other, fact-based arguments in defense of paper.
    • Data centers used to power electronic communications can waste up to 90 percent of the electricity they consume and are regularly found in violation of clean air regulations; Google’s data centers consume nearly 300 million watts.
    • The volume of trees grown on United States forestland has increased 49 percent over the last 50 years.
    • When referenced more than once, documents printed on paper are less likely to impact the environment than repeatedly accessing them electronically.
    By mid-March, Paperless2103 had removed images of trees from its webpage and social media sites and changed its slogan from “Save money. Save time. Save trees” to “Take the paper out of paperwork.” This successful outcome is just one example of the particular effectiveness Two Sides has had, in their own words, “challenging and correcting misleading environmental claims related to print and paper.” The organization has identified 47 “leading” companies have encouraged customers to use electronic services through the use of unfounded environmental claims.
  • Forget ‘Showrooming’: 77% of Mobile Retail Shoppers Buy In-Store

    Miscellaneous News, |

    5/24/2013 12:00:00 AM
    Don’t look now, but the smartphone might end up being more friend than foe to the retail industry. According to a new study from xAd and Telmetrics, mobile now accounts for one third of all retail activity online with 98 million shoppers using a smartphone as their retail experience. And the vast majority of those mobile shoppers end up making purchases in-store – not on Amazon.

    The findings of the study, which was conducted by Nielsen, contradict the anecdotal “showrooming” trend (in which consumers research on a mobile device then buy online or in another store) that has led some retailers to match prices found online and others to cut access to wi-fi in the store. The study found that 77% of smartphone users who make a purchase after looking up retail-related information on their device buy in-store — compared to only 20% who do so online.

    “People are using the smartphone in the store as a compliment to what they’re doing,” says Bill Dinan, president of Telmetrics, the call tracking company that co-sponsored the survey. “When you start to view the smartphone as a complement to the purchase cycle, and as retailers understand that, that number will only increase.”
  • USPS Offers Discount on Samples

    Miscellaneous News, |

    5/24/2013 12:00:00 AM
    From Aug. 1 to Sept. 30, product marketers will receive 5% off delivery of trial-sized samples. Earlier this year, the U.S. Postal Service (USPS) introduced a program called Simple Samples that offered flat-rate pricing, volume discounts, and eliminated the need for outer packaging.  Now, convinced that CPG marketers are making a bad bet by scaling down sampling programs, the USPS's new products marketers are cutting rates in an attempt to get them back into the game.

    “We're trying to re-invigorate product sampling through the mail and we figure there's no better way to do it than to offer a promotion,” says Lisa Bobb-Semple, manager of lightweight parcels at USPS. “We're focused on trial-sized samples, because research shows they convert sales better and we want to encourage brand managers who aren't doing it to try it.”
  • AAA Fuel Gauge & Exchange Rates

    Miscellaneous News, |

    5/24/2013 12:00:00 AM
    AAA Fuel Gauge 5/24/13
    National Unleaded Regular:
    Current Average - $3.659/gallon
    Month Ago Average - $3.515/gallon
    Year Ago Average - $3.678/gallon
    Highest Recorded Average - $4.114/gallon on 7/17/08

    Diesel:
    Current Average - $3.889/gallon
    Month Ago Average - $3.908/gallon
    Year Ago Average - $3.981/gallon
    Highest Recorded Average - $4.845/gallon on 7/17/08


    Current Exchange Rates as of 5/24/13
    American Dollar to Canadian Dollar = 0.968022
    American Dollar to Chinese Yuan = 0.162989
    American Dollar to Euro = 1.291428
    American Dollar to Japanese Yen = 0.009775
    American Dollar to Mexican Peso = 0.080538

  • WTI Heads for Biggest Weekly Decline in a Month on Supply

    Miscellaneous News, |

    5/24/2013 12:00:00 AM
    West Texas Intermediate headed for its biggest weekly drop in more than a month amid signs of rising U.S. oil inventories and a global economic slowdown.

    Futures slid as much as 0.8 percent in New York. Prices may decline next week amid speculation that U.S. fuel supplies will be sufficient to meet summer demand after factory output in China shrank for the first time in seven months, according to a Bloomberg News survey. Goldman Sachs Group Inc. recommended selling WTI and buying Brent contracts for December 2014 as supplies accumulate on the U.S. Gulf Coast.

    “U.S. crude stocks are very well-filled, and there’s some disappointing economic data from China,” said Hannes Loacker, an analyst at Raiffeisen Bank International AG (RBI) in Vienna, who estimates WTI will average $92 this quarter. “It’s not the best cocktail for crude.”

    WTI for July delivery fell as much as 78 cents to $93.47 a barrel in electronic trading on the New York Mercantile Exchange and was at $93.55 as of 12:02 p.m. London time. The volume of all contracts traded was 0.5 percent below the 100-day average. Prices are 2.6 percent lower this week, the most since the seven days ended April 19.
  • Thank You!

    Miscellaneous News, |

    5/24/2013 12:00:00 AM
    On behalf of everyone at Midland Paper, we would like to thank all our men and women in uniform for their unwavering commitment to the protection of this great nation. We wrap up this week's edition of Midland Paper Clips with the History of Memorial Day and wish all of you a safe and happy holiday.

    The History of Memorial Day
    Memorial Day, an American holiday observed on the last Monday of May, honors men and women who died while serving in the U.S. military. Originally known as Decoration Day, it originated in the years following the Civil War and became an official federal holiday in 1971. Many Americans observe Memorial Day by visiting cemeteries or memorials, holding family gatherings and participating in parades. Unofficially, at least, it marks the beginning of summer. To find out more about the History of Memorial Day please click on the link below.


  • HP Reports Second Quarter 2013 Results

    End User News, |

    5/23/2013 12:00:00 AM
    HP today announced financial results for its second fiscal quarter ended April 30, 2013. Second quarter GAAP diluted earnings per share (EPS) was $0.55, down from $0.80 in the prior-year period and above its previously provided outlook of $0.38 to $0.40 per share. Second quarter non-GAAP diluted EPS was $0.87, down from $0.98 in the prior-year period and above its previously provided outlook of $0.80 to $0.82 per share. Second quarter non-GAAP earnings information excludes after-tax costs of $621 million, or $0.32 per diluted share, related to restructuring charges, amortization of purchased intangible assets and acquisition-related charges.

    For the second quarter, net revenue of $27.6 billion was down 10% year over year and down 9% when adjusted for the effects of currency.

    Highlights
    • Second quarter non-GAAP diluted earnings per share of $0.87, down 11% from the prior year, above previously provided outlook of $0.80 to $0.82 per share
    • Second quarter GAAP diluted earnings per share of $0.55, down 31% from the prior year, above previously provided outlook of $0.38 to $0.40 per share
    • Second quarter net revenue of $27.6 billion, down 10% from the prior year and down 9% when adjusted for the effects of currency
    • Cash flow from operations of $3.6 billion, up 44% from the prior year
    • Returned $1.1 billion in cash to shareholders in the form of dividends and share repurchases
    • Improved operating company net debt position by $1.8 billion, the fifth consecutive quarterly reduction of over $1 billion
    • Declared a regular quarterly cash dividend of 14.52 cents per share on the company's common stock
  • Limited Brands Reports First Quarter 2013 Earnings

    End User News, |

    5/23/2013 12:00:00 AM
    Limited Brands, Inc. today reported 2013 first quarter results.

    First Quarter Results
    Earnings per share for the first quarter ended May 4, 2013, increased 17% to $0.48 compared to $0.41 for the quarter ended April 28, 2012.  First quarter operating income was $311.2 million compared to $293.2 million last year, and net income was $142.5 million compared to $124.6 million last year. 

    The company reported net sales of $2.268 billion for the 13 weeks ended May 4, 2013, an increase of 5 percent compared to sales of $2.154 billion for the 13 weeks ended April 28, 2012.  The company reported a comparable store sales increase of 3 percent for the 13 weeks ended May 4, 2013, compared to the 13 weeks ended May 5, 2012. 
  • Lowe’s Reports First Quarter Sales and Earnings Results

    End User News, |

    5/23/2013 12:00:00 AM
    Lowe’s Companies, Inc., the world’s second largest home improvement retailer, today reported net earnings of $540 million for the quarter ended May 3, 2013, a 2.5 percent increase over the same period a year ago. Diluted earnings per share increased 14.0 percent to $0.49 from $0.43 in the first quarter of 2012.

    Sales for the quarter decreased 0.5 percent to $13.1 billion from $13.2 billion in the first quarter of 2012, while comparable sales for the quarter decreased 0.7 percent.

    “Results for indoor categories were solid for the quarter, a testament to the team’s continued focus on improving our core business through cross-functional collaboration and consistent execution in stores and across other selling channels,” commented Robert A. Niblock, Lowe’s chairman, president and CEO.

    “Cooler than normal temperatures and greater precipitation resulted in a delayed spring selling season which impacted our results in exterior categories,” Niblock added. “While overall performance in the month of March was particularly soft, April improved significantly and we have maintained that positive momentum through the first few weeks of May.”

    Delivering on the commitment to return excess cash to shareholders, the company repurchased $1.0 billion of stock and paid $178 million in dividends in the first quarter of 2013.
  • SeaWorld Entertainment, Inc. Reports First Quarter 2013 Results

    End User News, |

    5/23/2013 12:00:00 AM
    SeaWorld Entertainment, Inc., a leading theme park and entertainment company, today reported financial results for the quarter ending March 31, 2013.

    Highlights                                                                          
    • First quarter total revenue growth of 12%  versus the first quarter 2012
    • Total revenue per capita growth of 10% versus the first quarter 2012
    • Adjusted EBITDA[1] growth of $17.3 million versus the first quarter 2012
    • Net loss  improvement of $4.8 million versus the first quarter 2012
    • Free Cash Flow[1] improvement of $57.0 million versus the first quarter 2012
    • Successful Initial Public Offering on April 19th
    First Quarter 2013
    During the first quarter, the Company generated total revenue of $238.6 million, an increase of $26.2 million, or 12%, over the same period in 2012.  Adjusted EBITDA, a non-GAAP financial measure defined below, was $11.1 million compared to an Adjusted EBITDA loss of $6.2 million in the same quarter in 2012.  The Company reported a net loss for the first quarter of 2013 of $40.4 million, or $0.49 per share, compared to a net loss of $45.1 million, or $0.55 per share, over the same period in 2012.

  • Staples, Inc. Announces First Quarter 2013 Performance

    End User News, |

    5/23/2013 12:00:00 AM
    Staples, Inc. announced today the results for its first quarter ended May 4, 2013. Total company sales for the first quarter of 2013 were $5.8 billion, a decrease of three percent compared to the first quarter of 2012. First quarter 2013 total company sales growth was negatively impacted by approximately one percent due to 97 store closures in North America and Europe during the 12 months preceding the first quarter of 2013. The foreign exchange impact from the stronger U.S. dollar negatively impacted total company sales growth by approximately 50 basis points during the first quarter of 2013.

    First quarter 2013 operating income rate declined 52 basis points versus the first quarter of 2012 to 4.90 percent. This decrease primarily reflects investments to accelerate growth and deleverage of fixed expenses, partially offset by a favorable comparison to the first quarter of 2012, which included significant expenses related to headcount reductions and the settlement of a contractual dispute. The company reported first quarter 2013 income from continuing operations of $170 million, or $0.26 per diluted share, compared to income of $193 million, or $0.28 per diluted share, during the first quarter of 2012.

    During the first quarter of 2013, the company generated operating cash flow of $348 million and invested $41 million in capital expenditures, resulting in free cash flow of $306 million. The company utilized free cash flow to repurchase 4.9 million shares for $65 million, and ended the quarter with $2.5 billion in liquidity, including $1.4 billion in cash and cash equivalents.
  • Brown Printing Company and Clear Lake Press Announce Strategic Alliance

    Printer News, |

    5/23/2013 12:00:00 AM
    A strategic alliance between two well-known Waseca, MN printing companies was announced today. Brown Printing Company, the third largest magazine and catalog printer in the nation, and Clear Lake Press, a supplier of magazine, catalog and direct mail components for twenty five years, have agreed to commence a strategic alliance, pooling their respective strengths and resources in order to better serve their customers and prospects with a more comprehensive suite of printing solutions.

    Dan Nitz, President of Clear Lake Press, stated, “This alliance is important for both companies. Brown and Clear Lake Press will become stronger in their respective niches by working together and will be able to serve existing and prospective customers more efficiently.”

    Mike Amundson, CEO of Brown Printing added, “The ability for Brown Printing to continually improve and expand its array of print and marketing solutions is critical to our continued success in the very competitive markets we serve. Entering into an alliance with Clear Lake Press will allow us to better serve our customers and make it easier and more cost efficient for them to do business with us.”
  • Hess Print Solutions Announces Plan for Sale to Bang Printing

    Printer News, |

    5/23/2013 12:00:00 AM
    Hess Print Solutions and its subsidiaries (HPS), a provider of accountable print performance solutions and other value-added services for catalogs, books, publications and educational printed products, announced today that HPS has entered into an agreement to sell substantially all of its assets to an affiliate of Bang Printing.

    The decision to sell to Bang Printing followed an extensive process of reviewing various strategic opportunities for HPS that was aimed at ensuring that it will remain a viable long-term business partner for customers, vendors and employees. This sale will allow HPS and Bang Printing to combine their existing capabilities and provide customers with a more diversified suite of products and services.

    "The strategic decision to pursue a financial restructuring through a sale will allow us to proactively and quickly improve our financial position and ensure we have the resources to meet the needs of our clients, suppliers, employees and other business partners going forward" said Jerry Haywood, interim CEO of HPS.

    Bang Printing has over 100 years of experience in the book and commercial printing industry, with its corporate offices in Brainerd, MN. Bang offers complete printing, binding and fulfillment services at a competitive price, with facilities in both Minnesota and California.
  • FutureMark Paper Group Celebrates Anniversary of Manistique Paper Acquisition

    Producer News, |

    5/23/2013 12:00:00 AM
    FutureMark Paper Group, North America's leading provider of responsibly made recycled paper, celebrated the one year anniversary of the acquisition of Manistique Papers. FutureMark's Manistique facility is a 72-acre manufacturing site that can produce up to 500 tons of recycled pulp per day and approximately 130,000 tons per year of uncoated, 100-percent recycled paper. FutureMark Manistique is the sole North American producer of exclusively 100% recycled uncoated printing and packaging papers.  
     
    Since the completion of the sale in May 2012, the FutureMark Manistique facility has completed 24 new hires, representing a 20 percent increase in its staff. In addition, the facility's management has implemented new maintenance programs and purchased new production equipment, with plans for additional capital investment to further improve product quality and production efficiency. As a result of these improvements, the FutureMark Manistique facility has added 60 new customers over the course of the year, and reached a 5 year high in total tonnage of recycled paper manufactured per day.
     
    "It has been a rewarding experience to join the FutureMark Paper Group team," stated Jon Johnson, Executive VP & General Manager, FutureMark Manistique. "Our facility has made significant strides in the first year to increase production, improve quality and expand the workforce with individuals who take pride in being part of an environmentally-focused company. We have many projects on the horizon to further enhance the unique position the Manistique mill has as a 100% recycled specialty paper producer."

  • Georgia-Pacific and Koch Industries Help Tornado Relief in Oklahoma

    Producer News, |

    5/23/2013 12:00:00 AM
    Undoubtedly, this has been a tragic time for Oklahomans after tornados ripped a destructive path through the cities of Moore and Shawnee. Our deepest and most sincere thoughts are with the many affected families who are mourning losses and faced with rebuilding their lives.

    We are thankful that nearly 1,000 Georgia-Pacific employees working nearby in our Muskogee, Okla. facility are safe and were not hit by the storms.

    Unfortunately from past experience, we know that in the aftermath of a disaster the most basic, everyday items are often needed right away. For the affected families in the state, Georgia-Pacific has donated six truckloads of products from our Muskogee, Okla., Fort Smith, Ark. and Naheola, Ala. facilities including Angel Soft® and Quilted Northern® bath tissue, Sparkle® paper towels, Dixie® cups and plates, and Mardi Gras® napkins.

    We also routinely work through aid organizations such as Convoy of Hope and Feed the Children who will be distributing these products to people who need them most.
  • Ilim Group's First Quarter 2013 Production of Pulp and Paper Flat, But Containerboard Up

    Producer News, |

    5/23/2013 12:00:00 AM
    Russian pulp and paper producer Ilim Group said that from January to March 2013, its Koryazhma Mill (Arkhangelsk Oblast) manufactured 276,000 tons of pulp and paper products — a 1% increase compared to the same period of 2012. This includes 93,000 tons of market pulp — a 2% increase against the first three months of 2012.
    • Market containerboard production gained 1%, reaching 126,000 tons.
    • Paper production lost 2% and amounted to 58,000 tons. The mill produced 20,000 tons of sack paper, 32,000 tons of offset paper, and 5,000 tons of wallpaper.
    • Pulp cooking increased by 1%, totaling 289,000 tons in the first quarter of 2013.
    • OAO Ilim Gofra, corrugated box business of Ilim Group in the Leningrad Oblast, produced 32 million sq. meters of corrugated products — a 9% increase against the similar period of the last year.
  • Toasting 110 Years Of Freedom And Livin' The High Life®

    Packaging News, |

    5/23/2013 12:00:00 AM
    Born across the street from each other in Milwaukee, Miller High Life and Harley-Davidson have been making timeless American products for 110 years. Now they're making something together. Today, Bill Davidson , vice-president of the Harley-Davidson Museum and great-grandson of Harley-Davidson co-founder William A. Davidson officially kicked-off a multi-year partnership with Miller High Life by helping brewmasters make a batch of the Champagne of Beers.

    The beer brewed with Davidson will not be specially marked and will instead be distributed like any other batch of High Life brewed in the Miller Brewery. So this summer whenever someone celebrates after a great ride by enjoying the Champagne of Beers, they might be sipping this special batch. Harley-Davidson and Miller High Life will also keep some of this batch aside to celebrate special occasions with consumers throughout the summer.


    Beyond the unique batch of brew, commemorative Harley-Davidson designs will be featured on Miller High Life cans and packaging. The partnership will bring customized Harley-Davidson motorcycles with Miller High Life graphics to participating retail stores. The brands will also rev up excitement by offering fans the chance to win exclusive prizes throughout the summer – including Harley-Davidson commemorative apparel and a Harley-Davidson motorcycle. Fans can follow Miller High Life 's Facebook page to get information on promotions and events in their area.

  • PEFC UK Publishes Annual Report 2013

    Environmental News, |

    5/23/2013 12:00:00 AM
    The latest annual report by our UK-based national member contains reviews of its national marketing, communications and public affairs activities over the past year as well as Hugh Miller's first report as Chairman of PEFC UK. The report also contains news from PEFC International and an update on how companies with PEFC Chain of Custody certification will also be able to meet the EU Timber Regulation's due diligence requirements.
  • WTI Oil Extends Losses as Stockpiles Rise, China Factories Slow

    Miscellaneous News, |

    5/23/2013 12:00:00 AM
    West Texas Intermediate oil fell for a third day, extending the biggest decline in three weeks as U.S. gasoline stockpiles unexpectedly gained and manufacturing in China shrank for the first time in seven months.

    Futures slid as much as 0.8 percent in New York after losing 2 percent yesterday, the most since May 1. Gasoline inventories rose 3 million barrels last week, the Energy Information Administration reported yesterday. Supplies were forecast to decrease 300,000 barrels, according to a Bloomberg News survey. A reading of China’s Purchasing Managers Index dropped to a preliminary 49.6 for May, the lowest since October and missing the median estimate of 50.4.

    “Stockpiles are very high and have been that way for a very long time,” said David Lennox, an analyst at Fat Prophets in Sydney. “We’re coming up to the driving season and one would expect to see significant drawdowns going forward,” he said of the Memorial Day holiday on May 27 that marks the start of the peak U.S. gasoline demand period.

    WTI for July delivery fell as much as 76 cents to $93.52 a barrel in electronic trading on the New York Mercantile Exchange and was at $93.63 at 11 a.m. Singapore time. The volume of all contracts traded was 10 percent below the 100-day average. Prices declined $1.90 to $94.28 yesterday, the lowest close since May 14.
  • Magazines are More Popular than Ever Among College Students, Says Shweiki Media

    Miscellaneous News, |

    5/23/2013 12:00:00 AM
    In a seemingly tech-oriented world, there's been constant speculation over the last few years that print is a dying medium—especially among the younger set, who had smartphones thrust into their hands years ago and haven't looked back since. Shweiki, in conjunction with Study Breaks College Media, wanted to test these suspicions, however, and see just how accurate the "print is dead" theory actually is. After surveying 387 college students, the answer is, it turns out, that it couldn't be further from the truth. Take a look at the results below, and you'll see that not only are students reading magazines, getting fashion ideas from magazines, visiting Websites they've discovered through magazines and buying things they've seen in magazines; they're also sharing publications among their friends. Check out the awesome results.

    Of 387 Students Surveyed:
    • 97 percent have read a free magazine
    • 90 percent have read a magazine in the last month
    • 84 percent keep magazines for at least a month
    • 70 percent share magazines with friends and/or borrow them from friends
    • 85 percent get fashion ideas from magazines
    • 89 percent visit Websites they see in magazines
    • 84 percent purchase an item after seeing it in a magazine
    • 63 percent use coupons from magazines to make purchases
    • 84 percent redeem specials and promotions they see in magazines
    These results prove that not only is print not dying; it's flourishing. And with new innovations like augmented reality integrating technology into print and literally bringing it to life, the age-old medium shows no signs of slowing down.

  • Best Buy Reports Better-than-Expected First Quarter Results

    End User News, |

    5/22/2013 12:00:00 AM
    Best Buy Co., Inc. today announced results for the 13-week first quarter (“Q1 FY14”) ended May 4, 2013, as compared to the 14-week first quarter (“Q1 FY13”) ended May 5, 2012.

    Revenue
    Domestic revenue of $7.98 billion declined 9.6% versus last year. Excluding the additional week last year (which contributed approximately $660 million in revenue to Q1 FY13), revenue declined 2.2%. This 2.2% decline was driven by (1) the loss of revenue from 49 large format stores that were closed last year; and (2) a comparable store sales decline of 1.1%. Comparable store sales were negatively impacted by (1) an estimated 80 basis points impact from the shift of the Super Bowl into last year’s fourth quarter; and (2) an estimated 30 basis point impact from our decision to reduce sales in certain non-core businesses.

    Domestic online revenue of $498 million increased 7.1% versus last year. Excluding the additional week last year, comparable online sales increased 16.3% due to increased traffic and higher conversion across our multiple online platforms. From a merchandising perspective, strong growth in mobile phone and appliances was more than offset by declines in home theater and gaming.

    Gross Profit Rate
    Domestic gross profit rate was 23.4% versus 25.3% last year. This 190 basis point decline was primarily driven by (1) a greater investment in price competitiveness, including higher promotional activity in mobile and computing; (2) higher inventory shrinkage; and (3) increased product warranty-related costs. These impacts were partially offset by proceeds from legal settlements.

  • DICK'S Sporting Goods Reports First Quarter Results

    End User News, |

    5/22/2013 12:00:00 AM
    DICK'S Sporting Goods, Inc., the largest U.S.-based full-line sporting goods retailer, today reported sales and earnings results for the first quarter ended May 4, 2013.

    First Quarter Results
    The Company reported consolidated non-GAAP net income for the first quarter ended May 4, 2013 of $60.5 million, or $0.48 per diluted share, compared to the Company's expectations provided on March 11, 2013 of $0.47 to 0.49 per diluted share. For the first quarter ended April 28, 2012, the Company reported consolidated net income of $57.2 million, or $0.45 per diluted share.

    On a GAAP basis, the Company reported consolidated net income for the first quarter ended May 4, 2013 of $64.8 million, or $0.52 per diluted share. GAAP results include an after-tax increase to net income of $4.3 million, or $0.04 per diluted share, resulting from an estimated partial recovery of its previously impaired JJB investment. The GAAP to non-GAAP reconciliation is included in a table later in the release under the heading "Non-GAAP Net Income and Earnings Per Share Reconciliation."

    Net sales for the first quarter of 2013 increased 4.1% to $1.3 billion. Adjusted for the shifted calendar due to the 53rd week in 2012, consolidated same store sales decreased 3.8%, compared to our guidance of an approximate 1 to 2% decrease. First quarter 2012 consolidated same store sales increased 8.4%. Shifted same store sales in the first quarter of 2013 for DICK'S Sporting Goods decreased 3.2% and Golf Galaxy sales decreased 11.8%. 

    Unshifted consolidated same store sales decreased 1.7%, compared to our guidance of approximately flat to a 1% increase, consisting of a 1.3% decrease at DICK'S Sporting Goods and a 7.4% decrease at Golf Galaxy. eCommerce penetration was 5.8% of total sales.

  • The Home Depot Announces First Quarter Results; Raises Fiscal Year 2013 Guidance

    End User News, |

    5/22/2013 12:00:00 AM
    The Home Depot®, the world's largest home improvement retailer, today reported sales of $19.1 billion for the first quarter of fiscal 2013, a 7.4 percent increase from the first quarter of fiscal 2012. Due to the 14th week in the fourth quarter of fiscal 2012, first quarter sales benefited from a seasonal timing change that added approximately $574 million to sales. On a like for like basis, comparable store sales for the first quarter of fiscal 2013 were positive 4.3 percent, and comp sales for U.S. stores were positive 4.8 percent.

    Net earnings for the first quarter were $1.2 billion, or $0.83 per diluted share, compared with net earnings of $1.0 billion, or $0.68 per diluted share, in the same period of fiscal 2012. For the first quarter of fiscal 2013, diluted earnings per share increased 22.1 percent from the same period in the prior year.

    "In the first quarter, we saw less favorable weather compared to last year, but we continue to see benefit from a recovering housing market that drove a stronger-than-expected start to the year for our business," said Frank Blake, chairman & CEO. 
  • Bonnier Corp. Builds on Dominance in Men’s Market — Acquires Multiple Motorcycle Brands

    End User News, |

    5/22/2013 12:00:00 AM
    Bonnier Corp. has expanded its presence as the pre-eminent publisher in the men's market, acquiring nine motorcycle brands from Source Interlink Media. The purchase builds on Bonnier's leadership in the men's market, joining flagship brands Popular Science and Field & Stream.

    Under the deal, Bonnier acquires Motorcyclist, Sport Rider, Dirt Rider, Motorcycle Cruiser, Hot Bike, Baggers, Super Streetbike, Street Chopper and ATV Rider.

    "The acquisition supports Bonnier's strategy to be focused in vertical enthusiast interest media," said CEO Dave Freygang. "We believe in going deep into selected verticals, and it's essential that our brands be in a leadership position within those verticals. Since the acquisition of Cycle World in 2011, we've realized that the opportunities within the motorcycle market are significant."
  • Walmart Responds to Oklahoma Tornado Tragedy

    End User News, |

    5/22/2013 12:00:00 AM
    Our hearts go out to all those impacted by the recent tornadoes in Oklahoma. We send our deepest condolences to those who lost loved ones, and we are working on several ways to support the community.

    In the aftermath of any disaster, we understand that helping people and communities meet their basic needs is the first step toward restoring normalcy. With several residents and businesses affected by these devastating storms, we want to ensure our community has access to the things they need to recover.

    What we're doing to help
    Walmart is committed to being a community partner in recovery efforts. We are pledging $1 million in cash and in-kind donations to help with relief efforts in Oklahoma to ensure the essential needs of residents are being met. We’re working to direct truckloads of water, food and other basic items to the area to help the community during this difficult time.

    We will continue to work closely with the Salvation Army, Red Cross and other agencies to monitor further ways to help. For those interested in making donations, please connect with those agencies.
  • Allied Printing Services: Success Is Always in Style

    Printer News, |

    5/22/2013 12:00:00 AM
    Like wood grain paneling, leg warmers and pagers, the family-owned commercial printing business appears to be a treasured trend from another generation. Or, perhaps that is just the perception. Another popular belief among industry followers is that printers aren't investing in new technology.

    For your consideration, we offer Allied Printing Services of Manchester, CT, a thriving, family-owned establishment that has experienced sufficient growth to sustain a remarkable capital expenditure initiative during the past few years. With more than 60 years under its belt, the firm appears poised to tackle the next 60 head on, according to John Sommers, company CEO. "I feel fortunate that I can pass my business on to my son, as my father did with my brother, sister and I," he says. "It's highly rewarding."

    This second- and third-generation commercial and financial printing specialist has a different approach to the modern printing business "wait and see" capital equipment investment strategy, because it has embarked on a rather impressive campaign to bolster its printing and finishing divisions. Suffice to say, growth will never go out of style.

    The additions are staggering, led by an eight-color, 41" KBA Rapida 106 sheetfed offset press equipped with a revolver coater and SIS (no side guide). A five-color HP Indigo 5600 with white ink kit joined the fold this past January. Four new Canon ImagePRESS C7010VP color digital presses grace an overhauled digital division, along with an HP Scitex grand-format inkjet printer and an HP latex wide-format machine.
  • Sappi Announces 2013 Printer of the Year Winners

    Producer News, |

    5/22/2013 12:00:00 AM
    This year, Sappi received close to 1,800 entries in North America. Our team of four judges selected 54 Silver Award winners, two Judges Award winners, and 49 Bronze Award winners from ten categories.

    The Silver Award winners in each category are now in the running to win the Gold award which offers up to $20,000 and 5,000 lbs. of paper to support the winner’s marketing and brand initiatives. Gold Award winners are eligible for a Sappi International Printers of the Year Award in 2014. 

    Gold, Silver and Judges Award winners receive their own web page on Sappi’s Printers of the Year Online Resource. Gold winners will be mentioned in formal press releases to the media. All winners will receive a framed award personalized with their company name and entry title, and have use of the official Printers of the Year logo in any communication materials they produce.

    The Sappi Printers of the Year competition continues to be highly regarded by the industry and is the only global contest of its type celebrating print excellence.
  • Atlas Holdings and Blue Wolf Capital to Acquire Twin Rivers Paper

    Producer News, |

    5/22/2013 12:00:00 AM
    Blue Wolf Capital Partners and Atlas Holdings today announced that they have reached an agreement to acquire a controlling interest in Twin Rivers Paper from Brookfield Asset Management. Terms of the agreement were not disclosed.

    The transaction is expected to close in approximately three weeks, allowing time for certain procedural requirements. Blue Wolf and Atlas, both NY-based private investment firms, have long track records of building forest products companies in North America.

    Twin Rivers, with facilities in Edmundston and Plaster Rock, New Brunswick, and Madawaska, ME, has been a vital economic engine for the region for over 80 years, producing specialty papers and lumber for a variety of markets. Through the acquisition of a controlling stake in Twin Rivers, Atlas and Blue Wolf are showing their commitment to the future of the business, and will work with the company in the development of its long-term capital and growth plans.
  • Ahlstrom Announces Price Increases for Beverage Materials

    Producer News, |

    5/22/2013 12:00:00 AM
    Ahlstrom, a global high performance fiber-based materials company, announces price increases on its beverage materials produced by the Food and Medical business area. The price increases will be made to compensate for the continued high level of raw materials as well as utilities-related inflation.

    The price increases will affect all beverage related products worldwide and will be effective for all orders placed as of July 1, 2013. The increase will be up to 5% depending on markets as well as the product and the agreements in place.

    Beverage products, manufactured by Food and Medical business area, include materials for teabags and coffee pods. Food and Medical business area's main end-use applications are teabags, coffee filters, food packaging, baking papers, masking tape and surgical gowns and drapes.

  • Holmen to Further Reduce Its Papermaking Capacity by 10 Percent

    Producer News, |

    5/22/2013 12:00:00 AM
    Holmen Paper said that it will further permanently reduce its annual paper production capacity in Sweden by 10 percent or about 115,000 tonnes in the third quarter of this year. The company did not disclose specific details of the additional capacity cuts.

    Today's announcement follows Holmen's two previously announced paper machine closures.

    In October of 2012, Holmen said it would shut down PM 3 at Hallsta Paper Mill. PM 3 manufactures 140,000 tpy of SC (Super Calendered) paper. Then, in March of this year, the company announced that it would cease production on PM 51 at its Braviken Paper Mill. PM 51 produces 200,000 tpy of newsprint.

    Holmen said in a statement that the ongoing restructuring program is taking place against the backdrop of considerable losses in the business. “The extensive capacity cuts announced will gradually lead to a better market balance in 2013,” said Henrik Sjölund, head of Holmen Paper.
  • Amcor Wins Three DuPont Packaging Innovation Awards

    Packaging News, |

    5/22/2013 12:00:00 AM
    Amcor was honored with an overall DuPont “Continuing Innovation” Award, recognizing its continued, company-wide, innovation. Amcor has won 11 DuPont Innovation Awards over the past 25 years, covering a range of innovations that help its customers deliver products to consumers safely and sustainably.

    Amcor’s Managing Director and CEO, Mr Ken MacKenzie, said: “We are delighted to be recognized by DuPont for our long-standing commitment to innovation. We continue to work closely with customers and suppliers to deliver innovative and responsible packaging that provides real benefit to end-consumers and the broader community. This award is great recognition of Amcor’s talented co-workers who passionately and relentlessly apply art and science to develop innovative packaging solutions and bring them to commercial reality.”

    Shanna Moore, Program Leader, DuPont Awards for Packaging Innovation, DuPont Packaging & Industrial Polymers said: "DuPont Continuing Innovation Award winners have shaped our industry in many ways by challenging traditions and responding quickly to consumer needs. Amcor embodies the spirit of continuing innovation having won 11 DuPont Packaging Awards.”
  • Smurfit Kappa Sets Out Vision on Sustainability

    Packaging News, |

    5/22/2013 12:00:00 AM
    Smurfit Kappa Group plc (‘SKG’ or the ‘Group’), one of the world’s largest integrated manufacturers of paper-based packaging products with operations in Europe and the Americas, announces the publication of its vision on sustainability which establishes additional objectives for the business up to 2020 and which extends and builds on the range of sustainability initiatives which the Group already has in place.

    The statement details the Group’s commitment to sustainable business practices and belief that profitable growth can be achieved by providing its customers with innovative packaging solutions while continuing to minimize product waste; optimizing resource use and re-use through recycling; and, stimulating afforestation through sustainable forestry practices.

    SKG has set out targets to strengthen its sustainable business practices under seven key building blocks including: Chain of Custody, CO2emissions, Waste, Water, Health & Safety, Sustainable Sourcing, and Community Involvement. Detailed objectives have been set for each focus area to be delivered between 2013 and 2020.
  • Paper Recycling: A Great American Success Story!

    Environmental News, |

    5/22/2013 12:00:00 AM
    When it comes to the environment, one great American success story that’s often overlooked is the dramatic increase in paper recycling over the last two decades. As awareness of paper recycling has grown and a sound, market-driven recovery and recycling infrastructure has evolved, the amount of paper recovered annually for recycling has increased 75% since 1990!   There’s no better example of how consumer education and public-private collaboration can lead to true environmental improvement.  Not only are we continuing to extend the use of a valuable natural resource – wood fiber from sustainably managed forests – but we’re also sending 50% less paper to landfills.

    Think about this: In 2012, more than 51 million tons of paper products were voluntarily recovered for recycling in the U.S. – that’s 65.1% of all paper produced.  Break that down into a number we can relate to individually and you get roughly 323 pounds recycled for every man, woman and child in the country.   When you consider that one ream of 8.5” x 11” office paper weighs about 5 pounds … well, you get the picture.

    In fact, paper is leading the way when it comes to recycling.  According to the latest statistics from the U.S. Environmental Protection Agency, paper-based products are recycled more than any other commodity in the United States, including steel at 33.8%, glass at 27.1%, aluminum at 19.9% and plastics at 8.2%.

    But that doesn’t mean we can’t do better.  The paper industry has set a new goal to recover more than 70% of all U.S. paper produced by 2020. 
  • Plant a Tree Today—We Do That 50 Million Times a Year

    Environmental News, |

    5/22/2013 12:00:00 AM
    May 22 is the United Nations International Day for Biological Diversity. The day has traditionally been UPM’s Plant-a-Tree Day when tree planting events with different stakeholders have been organized. This year in Finland in four locations different groups have the opportunity to get acquainted with the forest and the importance of trees:
    • In Laukaa UPM Silvesta, UPM’s subsidiary specialising in forestry work, together with city of Jyväskylä and several other local partners are organising an event for newcomers to the country
    • In Pieksamäki in an open event UPM Silvesta’s new local franchising partner will give the audience advice on tree planting and forestry in general. Naturally all participants also have the opportunity to test tree planting in practice.
    • In Eurajoki schoolchildren will plant trees together with UPM experts.
    • UPM head office personnel have the opportunity to make a forest visit and plant trees in Loppi.
    The International Day for Biological Diversity is also visible in Helsinki in the Esplanadi park: in the morning at 7:30 – 10:00 and in the afternoon from 15:00 onwards forestry students will distribute spruce seedlings grown in UPM’s Joroinen nursery to passers-by.

    “The tree seedlings remind people of the International Day of Biological Diversity as well as of the long time span of sustainable forestry and the importance of forest regeneration as a central part of responsible forest management,” says Timo Lehesvirta, Director, UPM Environment.

  • Resolute Remains Committed to Sustainable Forestry Despite Breakdown of Discussions Under Canadian Boreal Forest Agreement

    Environmental News, |

    5/22/2013 12:00:00 AM
    Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today expressed the Company's disappointment that negotiations under the auspices of the Canadian Boreal Forest Agreement (CBFA) have broken down after three years of collaborative efforts. Parties were unable to reach mutual agreement on a workable plan to jointly further conservation efforts while balancing environmental, social and economic considerations in the Canadian boreal forest.

    The CBFA was signed by members of the Forest Products Association of Canada (FPAC), including Resolute, and a group of environmental organizations to establish a common framework to further support boreal conservation efforts while safeguarding the livelihood of thousands of citizens in communities that depend on healthy working forests.

    Over the past several weeks, intense negotiations took place leading up to the third anniversary of the CBFA. Resolute put forward proposals for Northwestern Ontario that endorsed the setting aside of an additional 504,000 acres (204,000 hectares) of forest for conservation, providing additional protection of caribou and other species. This commitment is on top of the approximately 4,942,000 acres (2,000,000 hectares) of Ontario forests that have already been established as protected spaces, parks and other initiatives over the past 15 years.
  • WTI Crude Drops a Second Day as U.S. Supplies Gain a Fourth Week

    Miscellaneous News, |

    5/22/2013 12:00:00 AM
    West Texas Intermediate crude fell for a second day after industry data showed U.S. inventories rose for a fourth week, the longest run of gains since February. China’s oil stockpiles climbed for a second month.

    Futures slid as much as 0.7 percent in New York after a report from the American Petroleum Institute showed crude stockpiles increased 532,000 barrels last week. Government figures today are projected to show a 1 million-barrel decline, according to a Bloomberg News survey of analysts. The API also indicated gains in gasoline and distillate-fuel supplies, including heating oil and diesel.

    “The market wants to see inventory draws and the evidence that oil is being consumed,” said Jonathan Barratt, the chief executive officer of Barratt’s Bulletin, a commodity newsletter in Sydney. “If we do see a stockpile build tonight, I think we’ll see prices head to the downside,” he said, predicting that investors may buy contracts at about $92.50 a barrel.

    WTI for July delivery fell as much as 67 cents to $95.51 a barrel in electronic trading on the New York Mercantile Exchange and was at $95.70 at 12:59 p.m. Singapore time. The volume of all contracts traded was 50 percent below the 100-day average. June futures expired yesterday after declining 55 cents, or 0.6 percent, to $96.16, the first drop in five days.
  • Data-Driven Marketing Is Ready to Rev Into High Gear

    Miscellaneous News, |

    5/22/2013 12:00:00 AM
    Is data-driven marketing about to add a Hemi engine and a supercharger? It appears that way, as companies that avoided driving off the fiscal cliff in 2012 begin to fuel data-charged efforts in accelerated fashion in 2013. Nearly two-fifths (38.7%) of marketers and suppliers responding to the Direct Marketing Association's (DMA) Quarterly Business Review survey say they spent more on data-driven marketing (DDM) in Q1 2013 than they did in Q4 2012, while 42% held spending at the same level. More than 70% agreed that data-driven marketing is poised for growth.

    “When you compare the sentiments of this group coming out of the back half of 2012--facing the fiscal cliff and sequestration-- with their optimism for 2013, people are absolutely bullish about the opportunities,” says Jonathon Margulies, managing director of Winterberry Group, which conducts the quarter reviews for the DMA.

    Especially surprising was a jump in the DDM Index from 3.1 at the end of 2012 to 3.31 during this year's first quarter. The index is derived by asking respondents to rate their interest in pursuing technology solutions on a scale of 1 to 5.
  • Google Checkout to Retire In November

    Miscellaneous News, |

    5/22/2013 12:00:00 AM
    Google announced this week it would be retiring its Google Checkout in November of this year as the company transitions to Google Wallet, a platform enabling merchants to meet the demands of a multi-screen world where consumers shop in-store, at their desks and on their mobile devices, according to blog post by Google.

    Last week, according to the blog post, Google announced two enhancements to the Google Wallet platform – the Instant Buy API, which enables merchants to offer a fast buying experience to Google Wallet shoppers buying physical goods and services on their Android applications and websites, while processing their own payments. 

    The Wallet Objects API enables merchants to engage their customers with loyalty, offers and more. It was also announced that Google Wallet would be integrated into Gmail.
  • Hastings Entertainment, Inc. Reports Results for the First Quarter of Fiscal 2013

    End User News, |

    5/21/2013 12:00:00 AM
    Hastings Entertainment, Inc., a leading multimedia entertainment retailer, today reported results for the first quarter ended April 30, 2013. Net loss was approximately $2.2 million, or $0.27 per diluted share, for the first quarter of fiscal 2013, compared to net earnings of $0.8 million, or $0.10 per diluted share, for the first quarter of fiscal 2012. 

    Reconciliations of non-GAAP financial measures to comparable GAAP financial measures are included in the tables following the financial statements in this release.

    "Our revenues continue to be negatively impacted by the popularity of digital delivery, rental kiosks and subscription based services, as well as the longevity of the current video game console life-cycle," said John H. Marmaduke, Chief Executive Officer and Chairman.  "As we have previously disclosed, one of our strategic initiatives is the introduction of new product categories which includes consumer electronics, music electronics and accessories, hobby, recreation and lifestyle, vinyl and tablets.  The majority of these products are included in our Electronics category which had a comparable sales increase of 18.4% for the first quarter of fiscal 2013 which is on top of a 13.1% comparable sales increase for the first quarter of fiscal 2012.  


                                         Three Months Ended April 30,
                                                    -----------2013----------- -----------2013----------- --------Decrease--------
    Merchandise Revenue $  94,800    86.9% $  99,519       86.2%       $ (4,719) -4.7%
    Rental Revenue $  14,213    13.0% $  15,826       13.7%       $ (1,613) -10.2%
    Gift Card Breakage Revenue $       114      0.1% $      142        0.1%        $      (28) -19.7%
    Total Revenues $109,127     100% $115,487       100%        $ (6,360) -5.5%

  • Urban Outfitters Reports Record Sales and a 39% Increase in Earnings

    End User News, |

    5/21/2013 12:00:00 AM
    Urban Outfitters, Inc. (NASDAQ:URBN), a leading lifestyle specialty retail company operating under the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands, today announced net income of $47 million for the three months ended April 30, 2013.  Earnings per diluted share were $0.32 for the quarter.

    Total Company net sales for the first quarter of fiscal 2014 increased to a record $648 million or 14% over the same quarter last year. Comparable retail segment net sales, which include our comparable direct-to-consumer channel, increased 9%.  Comparable retail segment net sales increased 44% at Free People, 8% at Anthropologie and 6% at Urban Outfitters. Wholesale segment net sales rose 16%.

    "Our brands delivered solid growth across all channels in the first quarter, especially in our direct-to-consumer channel," said Chief Executive Officer, Richard A. Hayne. "Our focus on the direct-to-consumer channel has paid off nicely and we plan to continue to make the investments necessary to support its robust growth," finished Mr. Hayne.

    Net sales by brand and segment for the three month periods were as follows:


                                         Three Months Ended April 30,    

    Net sales by brand         2013 2012    
    Urban Outfitters $ 292,790 $ 266,390    
    Anthropologie $ 265,068 $ 235,118    
    Free People             $   83,324 $   61,672    
    Other                 $    6,995 $     5,750    
    Total Company            $ 648,177 $ 568,930    

    Net sales by segment                
    Retail Segment             $  611,971 $ 537,746    
    Wholesale Segment         $    36,206 $   31,184    
    Total Company             $  648,177 $ 568,930    

  • Calling All Charities! Macy’s Hosts Eighth Annual “Shop For A Cause”

    End User News, |

    5/21/2013 12:00:00 AM
    Macy’s is calling all charities, inviting them to participate in Macy’s eighth annual national “Shop For A Cause” charity shopping event. Macy’s 2013 Shop For A Cause will take place on Aug. 24, but charity sign-up begins now. Macy’s Shop For A Cause is a unique one-day-only shopping event created to support local charities’ fundraising efforts that, since 2006, has helped raise more than $46 million for thousands of charities across the country. In 2012, more than 7,000 charities signed up to participate.

    To qualify to participate in Shop For A Cause, charitable organizations must have a 501(c)3 or other recognized tax-exempt status. To apply, qualified charitable organizations should log onto macys.com/shopforacause and apply online. Macy’s will provide participating organizations with shopping passes to sell for $5 each and the organization will keep 100 percent of the proceeds for every shopping pass that it sells. The more shopping passes a group sells, the more money it will raise!

    By purchasing a shopping pass from a participating charity, customers can support their favorite causes while enjoying a day of spectacular discounts, entertainment and special events at Macy’s. Pass holders will receive special discounts on most regular, sale and clearance purchases all day, but some exclusions apply.
  • Pennsauken Printing Firm, in Hiring Boom, Looks to Expand

    Printer News, |

    5/21/2013 12:00:00 AM
    In this digital world, old-industry companies can be busier than ever. "We're running around the clock," said Nicholas Maiale, second-generation owner of Inserts East Inc. on industrial-heavy Central Highway in Pennsauken. The company is printing circulars and newspaper insert ads for ShopRite, Dick's Sporting Goods, Duane Reade drugstores, Mealey's Furniture, Five Below Inc., and other retailers.

    Maiale has hired 30 workers in the last several months, boosting total employment above 200. They staff a rebuilt eight-unit Heidelberg Harris 36-inch heatset press line and two folding machines, financed with a $5 million loan from TD Bank. The press was delivered to Inserts East's 150,000-square-foot plant in April.

    Business has been so good, Maiale said, he's thinking of adding another line.

    More U.S. companies have been raising money to grow. Though residential and other construction loans were mostly flat or declining over the last year, industrial and commercial lending rose at all 10 of the largest U.S. banks, according to bank tracker SNL Financial. Small-bank business lending is also up modestly, especially in the Northeast, raising hopes that more companies will hire.
  • Wausau Paper Signs Deal to Sell Its Specialty Paper Business

    Producer News, |

    5/21/2013 12:00:00 AM
    Wausau Paper today announced that it has signed a definitive agreement to sell its specialty paper business to a new company sponsored by KPS Capital Partners L.P. (“KPS”), a New York-based private equity firm with significant experience in the paper industry. The new company will be known as Expera Specialty Solutions, LLC (“Expera”).

    KPS, as previously announced, has also entered into a definitive agreement to acquire the specialty paper business of Packaging Dynamics Corporation (“Thilmany”), which operates paper mills in De Pere and Kaukauna, Wisconsin. Expera will combine the Thilmany business with Wausau Paper’s specialty paper business to create a leading North American manufacturer of specialty paper products for the food packaging, industrial, and pressure-sensitive release liner segments.

    Key highlights of the transaction are as follows:
    • The transaction will result in net cash proceeds to Wausau Paper of approximately $110 million after settlement of transaction-related liabilities, transaction costs and taxes.
    • Expera will acquire the assets of Wausau Paper’s Rhinelander and Mosinee mills; the assets of the company’s Brainerd mill are not included in the transaction.
    • Wausau Paper will retain defined benefit pension and other post-retirement benefit obligations; however, effective with the closing of the transaction, approximately $41 million of future liability will be eliminated.
    • Wausau Paper will not hold any equity ownership in Expera.
    • Wausau Paper will have the opportunity to receive a contingent payment that would be equal to what the holder of a 5% equity interest in Expera would receive if certain performance thresholds and KPS liquidity events occur.
  • Mohawk Introduces First iPhone Compatible Paper Notebook

    Producer News, |

    5/21/2013 12:00:00 AM
    Mohawk and DODOcase have joined forces to create a new product merging paper and pixels. It's called DODOnotes and it's the first iPhone compatible paper notebook.

    DODOnotes offers the classic DODOcase book-like exterior style and features a custom die-cut ‘nest’ on the cover with a colorful elastic strap to hold an iPhone in place. Inside, the DODOnotes interior notebook features 30 tear-out pages of Mohawk Superfine paper. Superfine has inspired writers, artists and designers for decades with its superb formation, lush tactility and archival, timeless appeal. You can now have it close at hand, everyday.

    “By partnering with Mohawk we are re-envisioning the relationship between tradition and technology,” said Patrick Buckley, CEO, Creator, and Co Founder of DODOcase. “With DODOnotes we combine the best of both the digital and analog worlds into the first paper notebook designed to work specifically with your iPhone.”

    “DODOnotes is proof that technology and fine paper can not only co-exist, but work together to make life easier,” said Bart Robinson, VP Marketing, Mohawk.
  • Wal-Mart Goes Solar

    Environmental News, |

    5/21/2013 12:00:00 AM
    Wal-Mart Stores, Inc. has installed eight solar photovoltaic (PV) arrays in Massachusetts.

    The arrays contain almost 10,000 solar panels that Wal-Mart estimates will generate 2.8 million kilowatt hours (kWh) of energy every year, eliminating almost 1.5 billion tons of carbon dioxide emissions.

    The discount giant recently committed to increase the production of renewable energy to 7 billion kWh globally every year by Dec. 2020, up 600% from 2010 levels. By 2020, Wal-Mart also plans to reduce the amount of energy required to run its buildings worldwide by 20% compared to 2010 levels.
  • North American POS market reaches $2B

    Miscellaneous News, |

    5/21/2013 12:00:00 AM
    Almost three in 10 (28%) of North American retailers plan to adopt mobile POS technology by the end of the year, according to a new study from IHL Group.

    Results of “Mobile POS: Hype to Reality” also indicate that 45% of all tablet POS shipments go to specialty retailers, mobile POS solutions will cannibalize about 12% of traditional retail POS shipments by 2016 and more than 85% of larger retailers say that in the next three years mobile POS systems will complement, rather than replace, traditional POS systems.

    The study also indicates that 33% of retailers are not planning to deploy mobile POS technology in the next three years.

    “The vast majority of retailers are taking a slow and methodical approach to the use of mobile for POS,” said Greg Buzek, president, IHL Group. “There are key operational issues in device and merchandise security, cash handling, payments, bags, customer service levels and traffic flow that must be worked through or the use of the devices will be disruptive in a negative way for retailers."
  • WTI Crude Trades Near Seven-Week High as Stockpiles Seen Falling

    Miscellaneous News, |

    5/21/2013 12:00:00 AM
    West Texas Intermediate crude traded near the highest price in almost two months before U.S. government data that is forecast to show the first back-to-back decrease in stockpiles this year.
    Futures were little changed in New York after advancing for a fourth day yesterday. U.S. crude stockpiles fell by 800,000 barrels last week, according to a Bloomberg News survey before a report tomorrow from the Energy Information Administration. Refineries probably increased operating rates for a fourth week. The industry-funded American Petroleum Institute is scheduled to release separate inventory data today.

    “As we start to move into the driving season, traders are going to want to see a pick-up in gasoline use and refinery throughput,” said Ric Spooner, a chief market analyst at CMC Markets in Sydney who predicts investors may sell WTI at about $97.20 a barrel. “There’s not a lot of news about that would influence people’s views on the fundamentals for either demand or supply.”

    WTI for June delivery was at $96.89 a barrel, up 18 cents, in electronic trading on the New York Mercantile Exchange at 12:46 p.m. Singapore time. The contract expires today. The volume of all contracts traded was 18 percent below the 100-day average. The more active July future rose 20 cents to $97.13. Front-month prices increased 69 cents yesterday, or 0.7 percent, to $96.71, the highest close since April 2.
  • Accenture Acquires Acquity

    Miscellaneous News, |

    5/21/2013 12:00:00 AM
    In its quest to become the panacea for the data-driven woes of CMOs, Accenture agreed on Friday to acquire Acquity Group for  $316 million. Acquity's 600 employees will join Accenture Interactive, a global enterprise with more than 4,000 employees in 120 countries offering marketing, analytics, and technology solutions.

    Accenture executives say that Acquity's distinction in working with leading digital platforms made it an attractive complement to the services provided by Accenture Interactive.  Acquity was named 2012 partner of the year by both Adobe and Hybris.

    “So many factors are coming into play for CMOs. They have to drive performance from multiple channels and most of them have multiple agencies to help them do it, says Glen Hartman, global managing director of digital marketing for Accnture Interactive. “Converging of all these players with a clear focus on driving performance is what we're about. We think CMOs are looking for a new type of marketing provider.”

  • Implementing the Right Shipping Strategy

    Miscellaneous News, |

    5/21/2013 12:00:00 AM
    Are you charging your customers too much for shipping or not enough or is free shipping right for you?  These are the questions being asked by merchants, according to an article on Forbes.com.  

    A recent survey done of consumers by Jupiter Media Matrix Inc., reports that 63% of customers cite excessive shipping costs as the reason they cancelled a purchase. According to the article, it can be burdensome for the customer when of there is a high shipment charge and then the shipment arrive with a shipping label attached makes it obvious the actual cost to the supplier is much less.

    The retailers hoping to make a big profit on shipping stand to lose business. The flip-side is if you don’t charge enough for shipping, you may actually lose money.  According to the article, the same report said that 45% of companies it surveyed make money on shipping fees, 45% lose money and 10% break even. 

    Here are some tips about will help retailers know which direction to take when it comes to shipping charges. Calculating shipping isn’t as challenging as it may seem, there are two main options retailers have for how to price shipped products: calculated shipping and flat-rate shipping. 

  • The Paper is the Circuit: Scientists Create Graphite-Based Paper Circuitry

    Miscellaneous News, |

    5/21/2013 12:00:00 AM
    Given the low costs and extensive applications that could be possible with flexible paper circuit boards, we've seen many ideas for their production, from printing with silver ink to embedding chips within paper. Now, however, scientists have developed an elegant method for selectively changing the very nature of the paper itself into conductive graphite. Unlike polymer-based flexible circuits, these paper circuits are, ironically, able to withstand the high temperatures generally used in the production of electronics.

    Using an ordinary inkjet printer loaded with a cartridge of an iron nitrate catalyst, the team at Germany's Max Planck Institute prints their target designs onto ordinary paper. When the paper is heated to 800°C (1,472°F) in an oxygen-free environment (which is presumably why the paper doesn't burn), the catalyst changes the composition of the paper's cellulose fibers into pure conductive graphite, while the unprinted paper remains unchanged.
  • HIG Capital Acquires Caraustar

    Packaging News, |

    5/21/2013 12:00:00 AM
    Miami-based HIG Capital, LLC, announced today that an affiliate completed the acquisition of Caraustar Industries, Inc. a leading provider of recycled paperboard and related products. Caraustar was majority owned by private investment funds managed by Wayzata Investment Partners LLC.

    Headquartered in Austell, GA, Caraustar is one of North America's largest integrated manufacturers and converters of 100% recycled paperboard and converted paperboard products. Caraustar serves end-use markets in tube and core, folding carton, gypsum facing paper and specialty paperboard products. Caraustar is also one of the largest collectors and processors of recovered fiber in the United States. The Company services its diversified customer base through a large network of facilities across North America.

    In 2009, Wayzata led a group of bondholders in a pre-packaged chapter 11 process in which Wayzata-managed funds acquired a majority ownership stake in Caraustar. The Wayzata led restructuring significantly reduced Caraustar’s debt burden and dramatically improved Caraustar’s balance sheet. Since exiting bankruptcy, Caraustar has used its stronger balance sheet to drive operational improvement and to increase profitability.
  • Esquire Unveils "Esquire Weekly", The First-Ever Digital Edition of a Monthly Print Magazine

    End User News, |

    5/20/2013 12:00:00 AM
    Esquire announced today the launch of a first-of-its-kind weekly tablet edition. Available for download now in the App store, Esquire Weekly features original content from Esquire’s award-winning columnists covering culture, politics, food, advice and more, as well as select pieces adapted from Esquire.com. The weekly edition is free to subscribers of the monthly tablet edition and is also sold separately for $0.99 per issue.

    Esquire Weekly will contain seven regular columns, including This Way In, featuring short news and culture/humor items; Instruction, featuring My Huddled Masses, a crowdsourced advice column by A.J. Jacobs; Culture by Stephen Marche; Eat Like A Man by Josh Ozersky; Politics by Charlie Pierce; an Original Feature, which will be either an essay, Q&A or book excerpt; and This Way Out, a behind-the-scenes look at the on-goings at Esquire. The inaugural issue, available now, contains original pieces by Marche on Star Trek director J.J. Abrams, Ozersky on how to ruin a perfectly good steak, and a gripping excerpt from the new Kindle single “Kissed by the Taliban” by war reporter Carmen Gentile, who was hit in the face with a Taliban rocket and lived to tell the tale.

    A new issue of Esquire Weekly will be available in the App Store every Thursday, except during the week when the print magazine hits newsstands. 
  • Florida Say No to Amazon’s Sales Tax Deal

    End User News, |

    5/20/2013 12:00:00 AM
    Amazon.com Inc. has made deals with several states in recent years in which the e-retailer promised to build distribution centers in those states in return for the state agreeing that Amazon did not have to collect sales tax before a specified data. It appears Florida has turned down a similar offer.

    Florida Gov. Rick Scott’s office says the state has rejected an Amazon sales tax proposal that included a promise to build a distribution center in the state by 2015. The governor’s office did not say what Amazon was requesting in return, and said Scott expects Amazon eventually will come to Florida even without a deal. 

    “Governor Scott does not want to raise taxes in Florida, and we are confident Amazon will invest in our state because of our low-tax, pro-business jobs climate,” says a spokeswoman for the governor.

    Earlier this year Amazon agreed to begin collecting sales tax in Connecticut on Nov. 1, in advance of the 2013 holiday season. At the same time, the retailer said it would invest $50 million in building at least one new warehouse in the state, which would create hundreds of jobs. Amazon has reached similar deals regarding state sales tax collection in return for building warehouses in other states, including New Jersey, Texas and California.
  • J.C. Penney’s Chief Promises to Realign Store and Web Inventory

    End User News, |

    5/20/2013 12:00:00 AM
    Five weeks after retaking the helm at J.C. Penney Co. Inc., Mike Ullman is reversing a number of the decisions made by his predecessor, Ron Johnson. And one of them was allowing the merchandise in stores to diverge from what was available on JCP.com.

    “It was an organizational mistake frankly,” Ullman told analysts yesterday in a call to discuss the retail chain’s fiscal first quarter results. The problem, he said, was that store employees no longer could rely on JCP.com to fill an order if a customer could not find the item she wanted in a J.C. Penney store.

    That’s because the retailer had separate buying teams, one for stores and the other for the e-commerce site. As a result, Ullman said, it was “hard to have confidence at the store level they can use dot-com to extend the sale or to help the customer solve size issues.” The company is now working to realign the merchandise available online and in stores, and Ullman said that should be accomplished by the holiday shopping season this fall. J.C. Penney is No. 34 in Internet Retailer’s recently released 2013 Top 500 Guide.

    Ullman blamed the divergence of store and web inventory in part for the 32% decline in e-commerce sales last year. In 2012, total sales declined 24.8% as then-CEO Ron Johnson radically changed Penney’s marketing strategy, including doing away with the regular sales that had been a Penney hallmark. Johnson resigned in April and was replaced by Ullman, who had been Penney’s chairman and CEO for seven years until turning over the reins to Johnson in November 2011.
  • Nordstrom’s Direct Sales Jump 25% in Q1

    End User News, |

    5/20/2013 12:00:00 AM
    For the first quarter of 2013 ending May 4, Nordstrom Inc.’s direct sales—which are almost entirely from the web—increased 25% over Q1 2012, the retailer reports. Nordstrom did not break out direct sales for Q1 2013 or Q1 2012.

    “In e-commerce, our focus has been on strengthening the customer experience through a focus on selection, convenience and experience,” said Blake W. Nordstrom, principal executive officer and president, during a conference call with investment analysts. “We’ve expanded the breadth of our online merchandise offering, so that today it virtually is at parity with our store offering. We’re still in the early stages in the area of personalization, in essence: customizing the experience on our site, providing product recommendations, and building tools that help with fit and style.”

    Nordstrom added that the retailer, No. 28 in the Internet Retailer Top 500 Guide, has been making substantial investments in e-commerce infrastructure to support growth.

    Total sales for Nordstrom reached $2.66 billion in the first quarter, up 4.7% from $2.54 billion in Q1 2012, the retailer says. Same-store sales were flat in Q1 2013. Net income dropped in the first quarter to $145 million, down 2.8% from $149 million in Q1 2012, Nordstrom reports.

    The merchant predicts its total sales will grow between 4% and 6% in 2013.
  • Abercrombie CEO Tries to Stem Backlash

    End User News, |

    5/20/2013 12:00:00 AM
    After days of silence during which long-held resentment toward Abercrombie & Fitch Co. began to boil over, Chief Executive Michael S. Jeffries tried to stem a backlash against the teen-focused retailer.

    Jeffries, in a statement Thursday, discussed criticism that the company lacks women's XL and XXL sizes in favor of catering toward young, good-looking customers. "A&F is an aspirational brand that, like most specialty apparel brands, targets its marketing at a particular segment of customers," he said in the statement. "However, we care about the broader communities in which we operate and are strongly committed to diversity and inclusion."

    Shoppers have been protesting the business since last week, when an interview that Jeffries conducted with Salon magazine in 2006 resurfaced and went viral. In the piece, he said that "absolutely," the brand is "exclusionary."

    "Candidly, we go after the cool kids. We go after the attractive all-American kid with a great attitude and a lot of friends," he said in the article. "A lot of people don't belong [in our clothes], and they can't belong."

    On Thursday, the 68-year-old Jeffries said his "resurrected quote has been taken out of context." But he stopped short of formally apologizing.
  • Tembec Reports Financial Results for its Second Quarter Ended March 30, 2013

    Producer News, |

    5/20/2013 12:00:00 AM
    Consolidated sales for the three-month period ended March 30, 2013, were $407 million, unchanged from the same quarter a year ago. The Company generated a net loss of $26 million or $0.26 per share in the March 2013 quarter compared to a net loss of $14 million or $0.14 per share in the March 2012 quarter. The financial results for the most recent quarter include a non-cash impairment charge of $22 million related to an asset held for sale. Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was $24 million for the three-month period ended March 30, 2013, as compared to adjusted EBITDA of $2 million a year ago and adjusted EBITDA of $19 million in the prior quarter.

    Business Segment Results
    The Specialty Cellulose Pulp segment generated adjusted EBITDA of $14 million on sales of $120 million for the quarter ended March 30, 2013, compared to adjusted EBITDA of $18 million on sales of $103 million in the prior quarter. The $14 million increase in pulp sales was due to higher shipments of viscose grades. Demand for specialty grades was flat and US and euro prices were relatively unchanged quarter-over-quarter. 

    The Forest Products segment generated adjusted EBITDA of $7 million on sales of $104 million for the quarter ended March 30, 2013, compared to adjusted EBITDA of $2 million on sales of $101 million in the prior quarter. Sales increased by $3 million due to higher selling prices for lumber, partially offset by lower shipments. Lumber shipments were equal to 76% of capacity versus 84% in the prior quarter. The decrease was due primarily to seasonal and logistic issues. Market conditions continued to improve as the quarter progressed.

    The Paper Pulp segment generated adjusted EBITDA of $4 million on sales of $122 million for the quarter ended March 30, 2013, compared to nil adjusted EBITDA on sales of $117 million in the prior quarter. The $5 million increase in sales was due to higher prices and shipments of Northern Bleached Softwood Kraft (NBSK) pulp, partially offset by lower shipments of high-yield pulp. 

    The Paper segment generated adjusted EBITDA of $5 million on sales of $87 million for the quarter ended March 30, 2013, compared to adjusted EBITDA of $6 million on sales of $78 million in the prior quarter. Higher coated bleached board and newsprint shipments caused the $9 million increase in sales. In terms of markets, coated bleached board was relatively stable. The newsprint market weakened due to continued lower North American demand combined with the restart of previously idled capacity.
  • Vancouver Printing Company Intercepts LSD-Laced Mail

    Printer News, |

    5/20/2013 12:00:00 AM
    A Vancouver printing company believes they have uncovered an international LSD trafficking ring that is shipping drugs using their name. Over the past six months, JukeboxPrint.com says they received three pieces of mail, which at first glance, appeared to be returned to them because of a wrong address. But upon closer inspection, operations manager Scott Mills said something was clearly amiss.

    The envelopes were printed with low resolution Jukebox logos, and inside, entire paragraphs from the company’s website were lifted and printed on a flyer. But tucked in between the pages were small, square stickers. "The stickers were a little eerie looking," Mills said. "They had psychedelic pictures on it. They were thicker."

    Mills said the company called Vancouver Police, but the last officer they spoke to said the mystery envelopes were just junk mail and advised them to put the letters in the garbage. But Mills sent the stickers to a lab instead and discovered they were laced with LSD. 

    The illegal hallucinogen – which is odourless, colourless and tasteless – is often painted onto small pieces of paper that people lick or swallow. Vancouver police now admit it was a mistake to dismiss the company’s concerns. "We’re taking this very seriously. This may be the tip of the iceberg," said VPD spokesman Sgt. Randy Fincham.
  • Harrisburg Printer Expanding Through Campus-Style Collaborations

    Printer News, |

    5/20/2013 12:00:00 AM
    Forget that printing contract for a moment. You want your company's logo on can koozies, coffee mugs and golf balls, maybe some T-shirts for that upcoming corporate event? Oh, and you want a custom glass sign to display in your new office?

    Harrisburg-based David A. Smith Printing Inc. has taken the steps to make all of that happen, and then some. During the last three years, the company's traditional ink- and digital-to-print model has gradually morphed to include more promotional and complementary products and services.

    "Print is not dead, nor is it dying," President Matthew Smith said. "But it's not growing."

    Since the company's founding in 1967, it has hit a few forks in the road. The last major one was the transition to digital. The latest has been deciding to diversify product lines — most not made in-house but purchased for on-demand customization through a co-op for advertising specialties — and partnering with local specialists to offset traditional print revenue losses and meet clients' other needs.

    During the last year, DAS has brought three independently owned businesses into surrounding spaces the company owns on South 22nd Street in Harrisburg. One is a custom design firm that specializes in wedding products, another a custom laser engraver and dye-sublimation printer. The third is a screen-printing operation that moved in last week and will be run by DAS for a private investor.
  • Tembec Announces Closing of the Sale of its NBSK Pulp Mill in Skookumchuck, British Columbia

    Producer News, |

    5/20/2013 12:00:00 AM
    Tembec Inc. announced today the closing of the sale of its NBSK pulp mill and related assets located in Skookumchuck, British Columbia to Paper Excellence Canada Holdings Corporation. Total consideration for the transaction is $94.6 million, including $25.5 million in working capital. The purchase price remains subject to closing working capital adjustments.

    Tembec will use the cash proceeds to pay down revolving operating debt and for general corporate purposes.

    Approximately 280 employees are included in the transaction. Tembec acquired the pulp mill in 1999 as part of the acquisition of Crestbrook Forest Industries Ltd.
  • Crowdsourced Packaging at Wrigley and Heineken

    Packaging News, |

    5/20/2013 12:00:00 AM
    Few consumer packaged goods companies are better at promoting their brands than Wrigley or Heineken. Both highly visible and widely recognized, you would think that such companies might keep a tight grip on things like package design, as in “We’re the geniuses who built these brands, ain’t nobody gonna tell us what our packaging should look like.”

    But it would appear that a tight grip on package design is not their approach at all. In fact, both firms are knee deep in crowdsourcing, that trend du jour where just about anybody anywhere can become your package designer if they’re properly incentivized.

    For Wrigley it involved Orbit gum. First came a Spotlight Series Design Contest, in which college students participated by entering an original design for Orbit’s Melon Remix gum. Eight package designs submitted by students were rolled out nationwide in 2012.

    Next came a Spotlight Series Facebook application. Wrigley invited people to interact with the product’s package design through a Facebook app. It extracts data automatically from a user’s profile and then uses algorithmic technology to build a custom gum pack design that is an artistic representation of the data in that person’s profile. The result: a unique gum package for every participant. Talk about mass customization.

    Heineken, meanwhile, through its crowdsourcing platform called IdeasBrewery.com, is inviting people to participate in a campaign aimed specifically at people between 60 and 70 years old. The goal: to reinvent the beer-drinking experience—including packaging—for this often overlooked demographic. 
  • Ilim Group Partners the All-Russian Forest Planting Day

    Environmental News, |

    5/20/2013 12:00:00 AM
    Ilim Group acts as a title sponsor of the All-Russian Forest Planting Day. On May 18, 2013, volunteers will plant over 10 million of young trees in 65 regions of Russia within the framework of this unprecedentedly large environmental event expected to draw over 1 million of people.

    "Forest is the basis of Ilim Group's business operations and responsible forest management is one of our key priorities", emphasized Igor Sapunkov, Director Forest Strategy of Ilim Group. - "We are happy to support such an important and large-scale event and we are sure that it will both enable implementation of reforestation activities in the forests that sustained most serious damage caused by wildfires, and promote a responsible forest management approach".

    The All-Russian Forest Planting Day was initiated by the Federal Forestry Agency (RosLesKhoz) in 2011 and enjoyed support of the Russian Government. This year the event's official site 18may.ru has a special map with information about the tree planting sites which is updated every hour.
  • Technology Is Changing the Way We Market—and Spend

    Miscellaneous News, |

    5/20/2013 12:00:00 AM
    Do the math, says Laura McLellan, Research VP in Gartner's Marketing Leaders research group. Marketing budgets are greater than IT budgets, and growing—whereas IT budgets are fairly flat.

    “Marketing is driven by growth...which means marketers need to take risks,” McLellan says, adding that in today's increasingly digital world marketing needs to experiment or be left behind. “This means failing early and often, a much different approach than IT.” So it's no surprise that by 2017 marketing departments will spend more technology tools and services than their IT brethren, according to Gartner. It's also no surprise that more than 25% of companies will have a chief digital officer by 2015, Gartner predicts.

    Another driver of marketing budget increases? Today's focus on customer engagement requires additional spending, McLellan notes. Existing e-comms can no longer support current customer demands; companies need to revamp their sites or use digital as a gateway until they can, she says. For some businesses meeting customers' expectations means create a new website from scratch, build 100% around the customer viewpoint—not around the technology.
  • CMOs and CIOs Fight for Customer Centricity

    Miscellaneous News, |

    5/20/2013 12:00:00 AM
    Marketing and IT departments in many companies are waving their white flags and calling a truce. These once heavily drawn battle lines are beginning to blur now that the two organizations realize that they're fighting for the same thing: customer centricity. In fact, according to the study “Big Data's Biggest Role: Aligning the CMO and CIO” by SAS and the CMO Council, 80% of marketers and 88% of IT executives cite joining forces to achieve customer centricity as a main priority. And what's their secret weapon to achieving this customer-centric union? Big Data. According to the study, 40% of marketers and 51% of IT heads say Big Data is “critical” to delivering customer-centric programs.

    However, establishing a customer-centric mind-set can be an uphill battle. According to the study, 33% of marketers and 31% of technologists believe that customer-centric cultural attributes have only been partially implemented within their corporations. What's more, 52% of marketers and 45% of IT executives list functional silos as a top hindrance to customer-centric endeavors because silos stall customer data development and profile development.

    To thrive as a team, both departments must assess their strengths and weaknesses. When it comes to marketers admitting their own faults, 55% cite insufficient data analytics and intelligence modeling as their biggest obstacle in achieving customer centricity, while 32% blame a shortage of IT integration management resources for their lack of customer-centric programs. In fact, 34% of marketers wish they had a middleman who understands and can counsel them on marketing, IT, and financial resources and strategies.
  • WTI Crude Halts Three-Day Advance; Syria Starts Offensive

    Miscellaneous News, |

    5/20/2013 12:00:00 AM
    West Texas Intermediate crude snapped a three-day gain. Syrian government forces started an offensive against rebels, renewing concern that conflict may destabilize the Middle East.

    Futures declined in New York after rising for a third day on May 17. Government forces retook most of the strategic city of Al-Qusair in central Syria, state-run SANA news agency said. Iraq resumed crude exports via Turkey after a bomb attack targeted an oil pipeline on May 17.

    “Syria is a microcosm of the unrest across the Middle East and could spread to other countries,” said Christopher Bellew, a senior broker at Jefferies Bache Ltd. in London.
  • Retail Sales Rebound In April; Increase 0.6 Percent

    End User News, |

    5/17/2013 12:00:00 AM
    Strengthening employment data, increasing housing prices and a record-breaking stock market provided consumers the confidence they needed to shop in April. According to the National Retail Federation, the world’s largest retail trade association, April retail sales (excluding automobiles, gas stations and restaurants) increased 0.6 percent seasonally adjusted from last month and increased 3.9 percent unadjusted year-over-year. 

    “In the face of higher taxes and sequester, consumers provided the economy a bit of a reprieve this month,” NRF President and CEO Matthew Shay said. “Despite colder spring weather and an early Easter, consumers shopped in April, demonstrating an inherent resiliency even as the economy faces serious headwinds, including stagnant job and wage growth.”

    April retail sales, released today by the U.S. Department of Commerce, showed total retail and food services sales (which include non-general merchandise categories such as automobiles, gasoline stations, and restaurants) increased 0.1 percent seasonally adjusted month-to-month and increased 3.7 percent adjusted year-over-year.

    “Today’s retail sales data is encouraging news,” NRF Chief Economist Jack Kleinhenz said. “However positive, retail sales and consumer spending in April may not necessarily translate into a stronger or healthier second quarter. NRF continues to forecast moderate sales growth for the year.”
  • J.C. Penney Reports 2013 Fiscal First Quarter Results

    End User News, |

    5/17/2013 12:00:00 AM
    J. C. Penney Company, Inc. today announced financial results for its fiscal first quarter ended May 4, 2013.  For the quarter, jcpenney reported a net loss of $348 million or $1.58 per share.  Excluding restructuring and management transition charges and non-cash primary pension plan expense, adjusted net loss for the quarter was $289 million, or $1.31 per share. 
     
    Total sales in the first quarter were $2.635 billion, a decrease of 16.4 percent from $3.152 billion in the same period last year.  Comparable store sales decreased 16.6 percent for the quarter and were negatively impacted by the ongoing transformation of the home department. 
     
    For the quarter, gross margin was 30.8 percent of sales, compared to 37.6 percent in the same period last year.  Gross margin was negatively impacted by lower than expected sales, a higher level of clearance merchandise sales and a return to some promotional activity towards the end of the quarter.  SG&A expenses decreased $82 million compared to last year's first quarter.  As a percent of sales, SG&A expenses increased 410 basis points to 40.9 percent of sales.  Total non-cash primary pension plan expense was $25 million.  As a percent of sales, total operating expenses were 49.3 percent in the first quarter.
  • Walmart reports a 4.6 percent increase for Q1 EPS of $1.14

    End User News, |

    5/17/2013 12:00:00 AM
    Wal-Mart Stores, Inc. (Walmart) reported first quarter diluted earnings per share (EPS) of $1.14, a 4.6 percent increase compared to last year's first quarter EPS of $1.09.

    Walmart U.S. and Sam's Club, excluding fuel, expect to increase comps for the Q2 13-week period to between flat and 2 percent and 1 and 3 percent, respectively.

    The company expects to deliver EPS for Q2 between $1.22 and $1.27, compared to $1.18 last year.
    Walmart U.S. comp sales declined 1.4 percent in the 13-week period from Jan. 26 to Apr. 26, 2013. Comp sales performance was impacted by a delay in income tax refund checks, challenging weather conditions, less grocery inflation than expected and the payroll tax increase. Walmart U.S. gained market share1 in the measured category of "food, consumables and health & wellness/OTC."

    Walmart International grew net sales 2.9 percent to $33.0 billion. On a constant currency basis2, Walmart International's net sales would have increased 5.4 percent to $33.8 billion. Walmart International gained market share3 in a majority of the countries in which we operate.

    Comp sales, without fuel, at Sam's Club were up 0.2 percent during the period, pressured by softer business member traffic, weather and lower than expected inflation.

    Consolidated net sales reached $113.4 billion, an increase of $1.2 billion, or 1.0 percent. Currency exchange rate fluctuations had a negative impact on net sales of $1.0 billion.

    Consolidated operating income was $6.5 billion, an increase of 1.1 percent over last year.

    Walmart U.S. and Sam's Club grew operating income 5.9 percent and 7.4 percent, respectively.

    Walmart reported free cash flow2 of $1.9 billion for the quarter ended Apr. 30, 2013.

    The company returned $3.8 billion to shareholders through dividends and share repurchases in the first quarter.
  • Wal-Mart’s online sales grow more than 30% in Q1

    End User News, |

    5/17/2013 12:00:00 AM
    Wal-Mart Stores Inc. reported today that its online sales grew more than 30% in the first quarter of the year, and said it planned to expand its e-commerce operations in key markets around the world. The figures cover Wal-Mart’s fiscal first quarter, which extended from Jan. 26 to April 26.

    “E-commerce will continue to grow in importance for our company,” chief financial officer Charles Holley said today in a presentation to analysts. “During the quarter, e-commerce sales increased by over 30%, and we continue to make strategic investments in the markets that offer us the greatest growth opportunity. We’re focusing this investment in key areas, including our global technology platform and next-generation fulfillment networks, as well as scaling additional markets around the world.”

    Wal-Mart did not say how much e-commerce made up of the retailer’s $114.2 billion in global sales in the first quarter. But the comments suggested that online growth is accelerating, perhaps faster than anticipated.
  • Hearst Magazine International Announces Launch of Totally Global Media

    End User News, |

    5/17/2013 12:00:00 AM
    Hearst Magazines International, a unit of Hearst Magazines, today announced the launch of Totally Global Media. TGM is a worldwide advertising platform comprised of Hearst Magazines’ websites and Hearst’s international publishing partner websites that offers quality content from brands including Harper’s BAZAAR, Esquire, ELLE and Cosmopolitan as well as highly-trafficked, pure-play digital sites such as Digital Spy in the U.K. and Yoka.com in China.

    With offices in New York and London, TGM is a centralized marketing solution for brands looking to leverage digital and cross-platform programs in multiple regions of the world, with a portfolio that offers 200 million unique visitors per month in more than 20 countries. Hearst Magazines International’s publishing partners include industry leaders Burda Media, Televisa Publishing + Digital, Groupe Marie Claire, Rogers Communications and more. 

    “TGM is a one-stop-shop for global marketers,” said Gina Garrubbo, senior vice president of Totally Global Media. “We’re developing and managing custom, multi-country digital and cross-platform advertising and marketing programs with global appeal, translated for local markets, all with a single buy and one point of communication—it is streamlined and highly efficient.”

  • PRIMIR Publishes New Study: "Impact of Integrated Marketing on the Printing Industry"

    Printer News, |

    5/17/2013 12:00:00 AM
    PRIMIR, the Print Industries Market Information and Research Organization, at NPES today announced that its latest study, "Impact of Integrated Marketing on the Printing Industry," has been released. The research, conducted by InfoTrends, provided exclusively to PRIMIR members, identifies marketing trends in integrating various media into marketing campaigns and discusses print's role in integrated marketing. The research report also identifies the key vertical markets where integrated marketing plays an essential role for promotion.

    The research report provides real-world insights into the ability of printers to transform themselves into providers and drivers of integrated marketing. It also outlines how manufacturers of equipment, software, consumables and supplies can provide support to their printer customer base. 

    According to the PRIMIR study, integrated marketing spend in 2011 was $15 billion in the top five vertical markets: automotive, retail, food and beverage, financial services, and healthcare. Based on projected growth at an average of 11 percent CAGR (compound annual growth rate), integrated marketing spend will reach $25 billion in 2016. The fastest growing market—financial services—is projected to increase at approximately 18 percent CAGR over the five-year timespan.
  • J.Vilaseca Earns ISO 50001:2011, Energy Management System

    Producer News, |

    5/17/2013 12:00:00 AM
    Spanish specialty papermaker J.Vilaseca has recently obtained the certification ISO 50001—an international standard for energy management and efficiency. J.Vilaseca's main objective with the procurement and implementation of this standard is to establish systems and processes to improve energy efficiency, reducing energy consumption and costs, as well as offsetting the current energy problems:
    • Shortage of current sources
    • Infrastructure vulnerability to future energy supply problems
    • Political instability in countries of supply
    • Energy price volatility
    • External energy dependence
    • To honor the company's commitment to the reduction of greenhouse gas emissions
    "Obtaining this certification highlights the concern and commitment from J.Vilaseca for combating climate change while also confirms the company's strategy investment to social responsibility and respect and preserve the environment," the company said in a statement.

  • "Mr. Corrugated" Stars in Promotional Campaign for Corrugated Packaging in Europe

    Packaging News, |

    5/17/2013 12:00:00 AM
    The UK's Confederation of Paper Industries (CPI) Corrugated Sector said that it is backing an innovative and high-profile Europe-wide campaign promoting the major economic and environmental advantages to the supply chain of Corrugated Packaging.

    The European Federation of Corrugated Board Manufacturers (FEFCO) has created a video featuring brand ambassador "Mr. Corrugated". The video focuses on the ‘five easies’ of shelf ready packaging (SRP) for retailers — it’s easy to identify, easy to open, easy to get on shelf, easy to access and easy to flatten and recycle — as well as its core message.

    The video can be viewed at: www.mrcorrugated-film.eu.

    The animated character’s portrayal of corrugated’s economic, protective, recyclable and renewable qualities in a fun way will reinforce the fundamental benefits that this versatile packaging can provide for logistical operations in a wide range of industry sectors.

    CPI’s Director of Packaging Affairs, Andy Barnetson, said, “FEFCO’s campaign featuring 'Mr. Corrugated' is very clever and appealing, and is sure to make an impact. The video is great at effectively communicating the message that environmental concerns and economical packaging are not incompatible.”
  • Consumers Will Pay More to “Go Green” Researchers Say

    Environmental News, |

    5/17/2013 12:00:00 AM
    As the 76 million former flower children of the Baby Boom generation start to pass the baton of supermarket domination to their 79 - 92 million tattooed Millennial successors, both massive consumer groups have a message for CPG companies: 'We want green packaging.'

    Of course, above all else, shoppers want to buy high-value products in packages that are attractive and functional - that keep food safe and fresh yet make them accessible and easy to use. But recent studies have shown that green packaging is high on the priority list for today's food and beverage consumers.

    What makes packaging 'green'? Definitions and standards vary. According to the Sustainable Packaging Alliance, green packaging meets the following four criteria: it is effective, makes efficient use of raw materials, generates minimal waste that can’t be recycled and is safe.

    When a shopper thinks two products have equal value and appeal, they frequently select the one they think is packaged in a more environmentally sensitive way, according to a recent report by New-Jersey based marketing company Perception Research Services. According to the study, 36 percent of consumers were likely to choose environmentally friendly packaging, which is a 29 percent increase over 2010 figures. And more than 50 percent of consumers said they were willing to pay more for green packaging, while more than 30 percent said they bought more of a product if its package was labeled "recyclable" or "made from recycled material."
  • Crude Rises on Stimulus Speculation

    Miscellaneous News, |

    5/17/2013 12:00:00 AM
    West Texas Intermediate crude rose on speculation that central banks will bolster stimulus after more Americans than projected filed for unemployment benefits and U.S. consumer prices decreased.

    Futures climbed 0.9 percent as Labor Department figures showed that jobless claims exceeded all forecasts in a Bloomberg survey of economists. The U.S. cost of living fell in April for a second month. St. Louis Federal Reserve President James Bullard said last month that persistent disinflation may require the central bank to provide additional stimulus. The dollar slid after the U.S. economic headlines, bolstering oil.

    “The market came roaring back after what were bearish headlines,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut. “Negative news is being taken as a sign that the easy-money policies of the central banks will continue.”

    WTI oil for June delivery advanced 86 cents to settle at $95.16 a barrel on the New York Mercantile Exchange. The volume of all contracts traded was 28 percent above the 100-day average at 3:34 p.m.
  • Stable Economic Fundamentals Keep Consumer Spending Outlook on Track

    Miscellaneous News, |

    5/17/2013 12:00:00 AM
    The Deloitte Consumer Spending Index (Index) dipped slightly in April, primarily due to an increase in the tax rate, while other economic fundamentals remain steady. The Index tracks consumer cash flow as an indicator of future consumer spending.

    "Despite a minor backslide in April, the Index has remained stable over the past six months, staying at a level that typically indicates sustained consumer spending in the near term," said Daniel Bachman , senior U.S. economist, Deloitte Services LP. "The employment picture continues to improve gradually, with revisions in the last two months reflecting stronger growth than initially reported. The retail sector – the largest private sector employer – added 29,000 jobs in April, bolstering confidence in the industry and the broader economy, even as the effects of the sequester and tax increases continue to impact consumers."
  • Bow Wow Wow! Hundreds of Paper Dogs Hit New York City

    Miscellaneous News, |

    5/17/2013 12:00:00 AM
    NYCxDesign, New York's city-wide celebration of cutting edge design is underway and has attracted the most unlikely of guests - hundreds of paper dogs.

    An exhibition of customised paper dogs has arrived in the city following an ambitious international design exchange, with the pooches flying in from artists' studios around the world including New Zealand, Argentina, Sweden and South Korea.

    Over 100 artists from around the world, including US artists Jimi Crayon, Oliver Hibert , Tatiana Arocha and Banksy's right-hand man, Inkie have given 120 dogs a new coat and set them loose in the Big Apple. Created by British design house, Lazerian, and supported by British paper mill, James Cropper , the designs include an homage to New York hot dog sellers by Spanish design company, Munye&Co complete with ketchup logos.


  • AAA Fuel Gage & Exchange Rates

    Miscellaneous News, |

    5/17/2013 12:00:00 AM

    AAA Fuel Gage 5/17/13
    National Unleaded Regular:
    Current Average - $3.618/gallon
    Month Ago Average - $3.519/gallon
    Year Ago Average - $3.722/gallon
    Highest Recorded Average - $4.114/gallon on 7/17/08
    Diesel:
    Current Average - $3.884/gallon
    Month Ago Average - $3.949/gallon
    Year Ago Average - $4.025/gallon
    Highest Recorded Average - $4.845/gallon on 7/17/08

     

    Current Exchange Rates as of 5/17/13

    American Dollar to Canadian Dollar = 0.975250
    American Dollar to Chinese Yuan = 0.162737
    American Dollar to Euro = 1.286015
    American Dollar to Japanese Yen = 0.009764
    American Dollar to Mexican Peso = 0.081206

  • WTI Fluctuates; Poised for First Weekly Drop in a Month

    Miscellaneous News, |

    5/17/2013 12:00:00 AM

    West Texas Intermediate crude headed for the first weekly decline in a month after U.S. consumption of gasoline and distillate fuels dropped.

    Futures fluctuated in New York after rising yesterday by the most in six days. U.S. gasoline consumption shrank 1.2 percent last week and demand for distillate fuels, including heating oil and diesel, decreased 2.4 percent, Energy Department data show. WTI may drop next week amid concern that weaker economic growth will reduce fuel use, according to a Bloomberg News survey.

    “We still expect renewed downside pressure,” Andrey Kryuchenkov, an analyst at VTB Capital in London, said in an e-mail. “Demand is yet to improve ahead of summer” in the U.S. and Europe, he said.

    WTI for June delivery was at $95.35 a barrel, up 19 cents, in electronic trading on the New York Mercantile Exchange at 10:27 a.m. London time.

  • American Forest & Paper Association Releases April 2013 Paperboard Statistics Report

    Packaging News, |

    5/17/2013 12:00:00 AM

    The American Forest & Paper Association released its April 2013 U.S. Paperboard Report today.

    Total boxboard production increased by 1.7 percent compared to April 2012 and increased 2 percent from last month. Unbleached Kraft Boxboard production decreased over the same month last year but increased compared to last month. Total Solid Bleached Boxboard & Liner production increased compared to April 2012 and increased compared to last month. The production of Recycled Boxboard increased compared to April 2012 but decreased when compared to last month.

  • American Forest & Paper Association Releases April 2013 Kraft Paper Sector Report

    Packaging News, |

    5/17/2013 12:00:00 AM

    The American Forest & Paper Association released its April 2013 Kraft Paper Report today.

    Total Kraft paper shipments were 133 thousand tons, an increase of less than 1 percent compared to the prior month. Bleached Kraft paper shipments increased year-over-year 10.3 percent, but the 3.1 percent year-over-year decline in the larger category of Unbleached Kraft paper shipments was enough to bring overall Kraft paper shipments down 1.2 percent year-over-year. Total month-end inventory decreased 7.1 percent to 66.5 thousand tons this month compared to March 2013 month-end inventories.

  • American Forest & Paper Association Releases April 2013 Containerboard Statistics Report

    Packaging News, |

    5/17/2013 12:00:00 AM

    The American Forest & Paper Association released its April 2013 U.S. Containerboard Statistics Report today. 
     
    Containerboard production dropped 1.5 percent over March 2013 but rose 4.2 percent over the same month last year.  The month-over-month average daily production increased 1.8 percent.  The containerboard operating rate for April 2013 gained 1.5 points from March 2013, from 92.8 percent to 94.3 percent.

  • Nordstrom Reports First Quarter 2013 Earnings

    End User News, |

    5/17/2013 12:00:00 AM

    Nordstrom, Inc. today reported earnings per diluted share of $0.73 for the first quarter ended May 4, 2013, representing a 4.3 percent increase from $0.70 for the same quarter last year. Net earnings were $145 million compared with $149 million for the same quarter last year.

    Total Company net sales of $2.7 billion for the first quarter increased 4.8 percent compared with net sales of $2.5 billion during the same period in fiscal 2012. Total Company same-store sales increased 2.7 percent compared with the same period in fiscal 2012, on top of last year’s same-store sales increase of 8.5 percent.

    First quarter performance was consistent with the lower end of the Company’s expectations as lower than planned sales volume was mitigated by the Company’s management of inventory and expenses. While in the first two months of the quarter the Company experienced particularly soft sales trends in seasonal merchandise and geographically in the Northeast, Mid-Atlantic and Midwest regions, overall sales trends showed improvement in April.

  • Bookstats 2013 Now Available

    End User News, |

    5/16/2013 12:00:00 AM

    BookStats Volume 3, the most comprehensive survey capturing the size and scope of the US book publishing industry in calendar year 2012, is now available for purchase.

    Some highlights of this year’s report:
    Trade publishing (general-interest fiction and non-fiction for adults, children and young adults and religion) experienced significant growth since 2011
    eBooks are now fully embedded in the format infrastructure of Trade book publishing
    Consumers love to read and want books in all the formats available to them

    Since its debut edition covering 2008-2010, BookStats has been a co-production of the Association of American Publishers and the Book Industry Study Group. Volume 3 captures net revenue and units for all key publishing categories, sectors, formats and main genres, providing a five-year historical track that encompasses the digital transition. It also examines trends in publishers’ sales channels including retail, institutional and other categories.

  • Orient Paper, Inc. Reports First Quarter 2013 Results

    Producer News, |

    5/16/2013 12:00:00 AM

    Orient Paper, Inc., a leading manufacturer and distributor of diversified paper products in North China, today announced unaudited financial results for the first quarter ended March 31, 2013.

    Key Highlights for First Quarter 2013:
     •Financial impact from Chinese New Year and a 20-day suspension of production due to government environmental inspection were in line with Company's expectations  
    •Progress on schedule for tissue paper business expansion
    •First quarter dividend payment of $0.0125 per share
    •2013 guidance on net income and EPS unchanged

    Mr. Zhenyong Liu, Chairman and Chief Executive Officer of Orient Paper, commented, "We are pleased that our facilities passed the rigorous governmental inspection as we are committed to a business model that complies with the governmental initiative of building an environment-friendly operation."

    Mr. Liu added, "Despite the challenges and the financial impact of the Chinese New Year and a 20-day suspension of production due to government environmental inspection in this quarter, we are pleased that our cash position has continued to improve, supported by the Company's ability to generate cash consistently and maintain a competitive cost structure."

    "With demand slowly picking up, as reflected in a slight sequential increase of the average selling price of corrugating medium paper, raw material prices trending towards a normalized level, and the ramp up of our new production line PM6, we reiterate our commitment to our net income guidance for 2013," continued Mr Liu.

  • Consolidated Graphics Reports Financial Results For The Quarter And Year Ended March 31, 2013

    Printer News, |

    5/16/2013 12:00:00 AM

    Consolidated Graphics, Inc. today announced financial results for its fourth quarter and year ended March 31, 2013.

    Revenue for the March 2013 quarter increased to $251.0 million, compared to $250.6 million for the same quarter last year due to a .5% same-store sales increase, excluding election related business. Adjusted Operating Income increased 115% for the quarter to $12.8 million or 5.1% of revenue, compared to $6.0 million or 2.4% of revenue last year. Adjusted Net Income increased 167% to $7.6 million for the quarter, compared to $2.9 million for the prior year. Adjusted Diluted Earnings Per Share for the March quarter increased 182% to $.79, compared to $.28 last year. Adjusted EBITDA increased 22.9% to $30.7 million for the quarter and Free Cash Flow was $32.4 million.

    Largely due to $12.6 million in charges related to the withdrawal from certain multi-employer pension plans and impairment of goodwill, operating loss for the March 2013 quarter was $.2 million. The March 2012 quarter operating loss was $8.3 million and included charges for withdrawing from certain multi-employer pension plans and asset impairments. Net loss for the March 2013 quarter was $.3 million or $.03 diluted loss per share, compared to a net loss of $5.9 million or $.57 diluted loss per share in the prior year.

    Revenue for the fiscal year ended March 31, 2013 increased to $1,048 million, compared to $1,045 million in the prior year and Adjusted Operating Income increased 7.4% to $54.6 million.

  • Cascades Makes Moving Easy

    Packaging News, |

    5/16/2013 12:00:00 AM

    Cascades is launching its new line of moving boxes made in Québec from corrugated board containing 80% recycled materials—just in time for July 1st! Whether you are packing up a large house or a small apartment, you can now purchase boxes in small quantities, which until now have been available only to companies for industrial packaging.

    Renowned for their strength and assorted sizes designed specifically for moving, Cascades offers peace of mind to thousands of tenants and new home-owners, by delivering just the right number and sizes of boxes needed straight to their door! The boxes are available in standard sizes commonly used by moving companies: 1.5 ft3, 2 ft3, 3 ft3, 4 ft3, and 5 ft3.

    “We are pleased to make these boxes available to the general public. Thanks to these boxes, we have built a strong reputation with many customers in the industrial sector. In addition to our offer of customized home delivery, we are proud to be offering a quality product at very competitive costs: $0.93 to $1.89 per package depending on the format,” explained Marc-André Dépin, President and Chief Executive Officer of Norampac, a division of Cascades.

  • WTI Crude Declines as Fuel Demand Drops Amid Economic Weakness

    Miscellaneous News, |

    5/16/2013 12:00:00 AM

    West Texas Intermediate fell for the fifth time in six days amid signs of economic weakness in the U.S. and Europe that threaten fuel demand.

    Futures slid as much as 1.1 percent in New York. U.S. industrial production dropped the most in eight months in April, manufacturing in the New York region unexpectedly shrank in May and the euro-area economy contracted more than forecast in the first quarter. A report today will probably show U.S. housing starts slipped from an almost five-year high in April, according to a Bloomberg survey. A measure of U.S. fuel consumption fell by 584,000 barrels a day last week to 18.5 million barrels a day, Energy Information Administration data showed yesterday.

    “It doesn’t look tight in the oil market for the coming five years,” Torbjoern Kjus, a senior oil analyst at DNB ASA in Oslo, said by telephone. “Spare capacity will rise, and I expect prices to continue to trend lower.”

    WTI for June delivery lost as much as $1.07 to $93.23 a barrel in electronic trading on the New York Mercantile Exchange and was at $93.56 at 11:03 a.m. in London.

  • Bertelsmann records significant profit hike in Q1/2013

    |

    5/16/2013 12:00:00 AM

    Bertelsmann recorded a positive business performance in the first three months of the year, increasing both its operating result and net profit to record levels. With consolidated revenues from continuing operations stable at €3.63 billion (previous year: €3.66 billion), first-quarter operating EBIT increased from €279 million in the previous year to €303 million in Q1/2013. The international media company thus achieved a return on sales of 8.3 percent (previous year: 7.6 percent). Net income improved by 43 percent to €207 million (previous year: €145 million). The increase in earnings was driven by increased profitability in almost all the core businesses, and gains from the acquisition of full ownership in the music rights company BMG, which was completed at the end of March.

    Thomas Rabe, Chairman and CEO of Bertelsmann, said: “Bertelsmann made a successful start to the year. In a challenging market environment, our businesses again expanded their high profitability over the past few months. The results are at record levels. We also began the year with significant strides in implementing our growth strategy. In recent weeks, we have strengthened two growth platforms with the acquisition of full ownership in BMG and the takeover of the financial services provider Gothia. We are also confident that we will complete the combination of our book publishing group Random House with Penguin early in the second half of the year – since February, we have received important regulatory approvals in the U.S., Europe and other markets. These three transactions will result in considerable overall growth for Bertelsmann in 2013.”

    Judith Hartmann, Chief Financial Officer of Bertelsmann, said: “We are pleased with the positive development in the first three months, but the economic conditions remain challenging. The successful placement of RTL shares in May gives us additional financial flexibility for reshaping the Group. Bertelsmann continues to generate high cash flow from operations.”

  • Kohl's Corporation Reports First Quarter Financial Results

    End User News, |

    5/16/2013 12:00:00 AM

    Kohl’s Corporation today reported results for the quarter ended May 4, 2013.
      
    ($ in millions)                           2013              2012         Change 
    Sales                                        $  4,199         $  4,243         (1.0)% 
    Comparable store sales             (1.9)%            0.2  %          -
    Net income                                  $  147            $  154          (4)% 
    Diluted earnings per share      $  0.66         $  0.63            5  % 

    Kevin Mansell, Kohl's chairman, president and chief executive officer, said, “After a slow start, sales improved considerably in April as the weather finally improved in our most weather-sensitive regions. Despite the lower than expected sales, we outperformed our earnings guidance as gross margin results and expense management were better than expected. Our inventory levels are consistent with our expectations."

    Kohl’s ended the quarter with 1,155 stores in 49 states, compared with 1,134 stores at the same time last year. The Company opened nine new stores during the first quarter of 2013 and expects to open three new stores and remodel 30 stores in the Fall.

  • Macy's, Inc. Reports First Quarter Earnings

    End User News, |

    5/16/2013 12:00:00 AM

    Macy's, Inc. today reported higher sales and earnings for the first quarter of 2013, the 13-week period ended May 4, 2013. Based on the ongoing momentum in our business, as well as confidence in our future performance, the company also announced a 25 percent increase in its dividend on common stock and a $1.5 billion increase in its share repurchase authorization.

    Earnings for the quarter were 55 cents per diluted share, an increase of 28 percent compared with 43 cents per diluted share in the same period last year. Comparable sales grew by 3.8 percent from the first quarter last year.

    Sales in the first quarter of 2013 totaled $6.387 billion, an increase of 4.0 percent, compared with sales of $6.143 billion in the same period last year. On a comparable sales basis, Macy's, Inc.'s first quarter sales were up 3.8 percent in 2013 over 2012.

    Macy's, Inc.'s operating income totaled $435 million or 6.8 percent of sales for the first quarter of 2013, compared with $391 million or 6.4 percent of sales for the same period in 2012.

  • Latest Commercial Printing Demographics Show 1,200 Fewer Establishments

    Printer News, |

    5/16/2013 12:00:00 AM

    The Commerce Department recently released the latest edition of County Business Patterns data about the number of US business establishments in 2011. Those data indicated that commercial printing establishments declined -4.1% compared to 2010. The biggest percentage declines were in establishments with 500 to 999 employees (between about $90 million to $200 million in sales), which fell by -11.5%, and establishments with 10 to 19 employees (about $1.5 million to $3.5 million) which fell -6.7%.

    CBP printing data 051513

    The reason for the declines are numerous, from outright closure, and also acquisition or merger. Establishments can shift sizes, of course. Usually, troubled printing establishments don’t die without a protracted downward spiral. They decrease in size over time, and then, even after production stops, they still may have a few employees on the books to handle final administrative tasks like final tax returns and official dissolution.
     
    Companies can also increase their size, as there was an increase in establishments with 1000+ employees, probably a consolidation process for that particular company. Sometimes the increase is statistically meaningless, such as a company right on the edge of an employee size interval going from 998 employees to 1001. The increase is meaningful to those four employees, but not meaningful from a total market perspective.

  • 100 million pounds of e-waste recycled in Wisconsin since landfill ban

    Environmental News, |

    5/15/2013 12:00:00 AM

    More than 100 million pounds of e-waste has been collected in Wisconsin since it began a statewide ban on disposing consumer electronics in landfills three years ago, state officials told The Associated Press.

    "It definitely adds up when you think about how many electronics we use now and how often we replace them," said Sarah Murray, coordinator of the E-Cycle Wisconsin program, to the AP.

    Televisions are at the top of the list of electronic waste, according to the report.

    A recent survey by the Wisconsin Department of Natural Resources found that Wisconsin residents own about 7 million TVs, or about three per household, the report said. More than 24 million pounds of old TVs were collected in Wisconsin in the year ending June 30, 2012.

  • Sappi Fine Paper North America Receives 2013 Gold SABRE Award for the successful campaign, The Standard 5

    Producer News, |

    5/15/2013 12:00:00 AM

    Sappi Fine Paper North America is pleased to announce that the company along with leading global public relations and communications firm, Burson-Marsteller received a 2013 Holmes Report Gold SABRE award. The successful campaign, The Standard 5 was recognized for its outstanding accomplishment in the Industry Sector category of Business-to-Business: Chemicals & Industrials.

    As the world's largest and most sought after awards competition for the public relations industry, the SABRE Awards celebrate superior achievement in branding and reputation communications. Winning campaigns across North America, EMEA and the Asia-Pacific region demonstrate the highest level of creativity, integrity and effectiveness in their respective categories.

    "It is an honor to be selected as the winner of a Gold SABRE award among a roster of outstanding campaigns," said Patti Groh, director of marketing and communications, Sappi Fine Paper North America. "Over the course of five months, The Standard 5 creatively incorporated events, social media, print, print-activated media such as augmented reality and QR codes as well as cause-related marketing — all into one campaign. The impact of this campaign has far outlasted our expectations and Sappi still receives regular requests for The Standard 5 from designers around the world over a year after its launch."

  • HBG Sales Up 14.9% in First Quarter

    End User News, |

    5/15/2013 12:00:00 AM

    Revenue at Lagardère Publishing rose 6.6% in the first quarter ended March 31 compared to the first period of 2012, with sales up to 419 million euros. Sales were driven by a strong performance at its U.S. subsidiary, Hachette Book Group, where revenue in the quarter increased 14.9%. HBG had a string of bestsellers in the quarter, including books by James Patterson, David Baldacci and Brad Meltzer. E-book sales did well in the quarter and accounted for 34% of trade book sales at the end of the period, up from 30 a year ago.

    E-book sales also were strong in the U.K. and accounted for 31% of adult net sales in the quarter compared to 24% in the first quarter of 2012. For all of Lagardere, e-book sales accounted for 12.4% of sales, up from 9.5% a year ago.

  • KP Tissue and Kruger Products Report First Quarter 2013 Results

    Producer News, |

    5/15/2013 12:00:00 AM

    May 14, 2013 - KP Tissue Inc., which holds a limited partnership interest in Kruger Products L.P. ("KPLP"), releases the financial results for KPT and KPLP for the first quarter of 2013. KPLP is Canada's leading manufacturer of quality tissue products for household and commercial use.

    KPT was created to acquire, and its business is limited to holding, a limited partnership interest in KPLP. As of March 31, 2013, KPT held a 16.9% interest in KPLP, accounted for as an investment on the equity basis. The financial results presented for KPT represent its holding in KPLP during the first quarter of 2013. The following discussion and analysis, unless identified specifically as representing the financial results of only KPT, relates entirely to the financial results of KPLP. Accordingly, the results of KPLP apply to KPT only to the extent of its holding in KPLP.

    On April 15, 2013, KPLP paid a distribution to its partners. Following the reinvestment by the partners of KPLP of a portion of such distribution pursuant to KPLP's distribution reinvestment plan, KPT held a 16.9% interest in KPLP.

    Q1 2013 Highlights
    Revenue of $221.8 million in Q1 2013, compared to $216.2 million in Q1 2012, an increase of 2.6 percent year over year
    EBITDA of $25.1 million in Q1 2013 (including $1.8 million of TAD Project start-up costs) compared to $27.2 million in Q1 2012 (including $0.8 million of TAD Project start-up costs), a decrease of 7.8 percent year over year
    Net income of $11.7 million in Q1 2013 compared to $0.4 million in Q1 2012, an increase of $11.3 million year over year

  • Mayr-Melnhof Announces Results for the 1st Quarter 2013

    Packaging News, |

    5/15/2013 12:00:00 AM

    During the first quarter of 2013 the Mayr-Melnhof Group stood up firmly in an environment marked by stagnating volumes and significantly intensified competition in the main market Europe. Our cartonboard mills as well as folding carton plants recorded overall high capacity utilization, whereby sales and volumes in both divisions could be maintained at the same or above the level of the comparative period. However, at EUR 38.4 million, operating profit of the Group was EUR 4.8 million or 11.1 % below the previous year. This decline was exclusively due to cartonboard production, since the folding carton business achieved an increase in profit compared to the previous year. Loss in volume owing to the planned rebuild of a key aggregate in the cartonboard mill Neuss and lower average sales prices were the major reasons for the reduction in margins at MM Karton.
     
    Looking to the future, there are actually no indications for a recovery in the development of demand, which has slowed progressively since the beginning of the year. Our customers' planning and the visibility remain short-term, the costs of raw materials largely unchanged. Against this background, we intend to safeguard the prices of our products as best as possible and to continue to increase our share in consolidated as well as growing markets in order to secure the long-term profitability of our Group.

    At EUR 496.7 million, the Group's consolidated sales again reached the previous year’s level (1Q 2012: EUR 494.9 million). Lower average prices for cartonboard could be countered by an increase in volume.
     
    Operating profit amounted to EUR 38.4 million and was thus EUR 4.8 million or 11.1 % below the comparative value of the previous year (1Q 2012: EUR 43.2 million). The decrease chiefly results from rebuild-related non-recurring expenses and lower cartonboard prices.

  • WTI Crude Near Two-Week Low; Europe Probes Oil Pricing

    Miscellaneous News, |

    5/15/2013 12:00:00 AM

    West Texas Intermediate crude fell for a fifth day in its longest run of declines since October. Antitrust regulators are questioning European oil companies about possible manipulation of prices.

    Futures traded near their lowest closing level in almost two weeks in New York. Crude inventories gained 1.1 million barrels last week, the industry-funded American Petroleum Institute said yesterday. A government report today may show stockpiles climbed 450,000 barrels, according to a Bloomberg survey. Royal Dutch Shell Plc, BP Plc, Statoil ASA and Platts said they’re being investigated after the European Commission conducted raids on their offices in three countries.

    “The world will remain well-supplied,” said Andrey Kryuchenkov, an analyst at VTB Capital in London. “Higher prices lately have triggered a boost to capacity that will continue to outpace slack post-crisis demand growth.”

    WTI for June delivery fell as much as 77 cents, or 0.8 percent, to $93.44 a barrel and was at $93.63 in electronic trading on the New York Mercantile Exchange at 11:15 a.m. London time.

  • Meredith Acquires Parenting and Babytalk Brands From Bonnier

    End User News, |

    5/15/2013 12:00:00 AM

    Meredith Corporation announced today it has acquired Parenting and Babytalk magazines and their related digital assets from The Bonnier Corporation.

    Under the agreement, the readers of Parenting will receive Parents magazine effective with the September issue. Similarly, readers of Babytalk will receive American Baby magazine effective with the September issue. The companion digital site, www.Parenting.com, will operate as a part of the Parents network of digital media.

    Both Parents and American Baby magazines will include popular editorial features and columns from Parenting and Babytalk to ensure that readers are being super-served with great editorial content that reflects the best of the combined products.

    Financial terms were not disclosed, and the acquisitions will not have a material effect on Meredith's financial performance.

  • Resolute Officially Inaugurates Power Island Producing Green Energy at Thunder Bay Pulp and Paper Operation

    Producer News, |

    5/15/2013 12:00:00 AM

    Resolute Forest Products Inc. today officially inaugurated a major power island producing green energy at its pulp and paper operation located in Thunder Bay, Ontario. The power island includes a refurbished and upgraded woodwaste boiler and a new 65-megawatt condensing turbine. Approved by Resolute in early 2011, the C$65 million project took just over 21 months to complete.

    "The power island is a strategic addition to Resolute's Thunder Bay facility," stated Richard Garneau, President and Chief Executive Officer. "It will reduce the mill's energy costs as well as maximize our local woodlands, sawmill, pulp and paper, and energy operations by fully utilizing forest-based biomass to produce green electricity."

    The green power produced will be sold to the Ontario grid under a power purchase agreement between Resolute and the Ontario Power Authority.

  • Non-Profit Initiates Next Stage of its Mission to Stop Greenwashing

    Environmental News, |

    5/14/2013 12:00:00 AM
    Two Sides today announced the next stage of its nationwide initiative to urge major U.S. banks, utilities and telecommunication companies to end the use of misleading marketing claims about the sustainability of print and paper. Phase Two will include a second round of communication intended to initiate productive discussion with senior management in the target industries, reminding them of their responsibility to adhere to best practices for environmental marketing as outlined in the U.S. Federal Trade Commission’s recently revised Green Guides.
     
    Last year, Two Sides contacted senior bank, utility and telecom executives, encouraging them to follow the yet-to-be-released FTC Green Guides, which say that environmental marketing claims should not exaggerate environmental impacts and must be substantiated.   While some responded positively, many of the nation’s top banks, utilities and telecoms continue to tell their customers that switching to online billing and communication is better for the environment than print and paper with no verifiable or credible supporting evidence.  With the release of the updated Green Guides in October 2012, the FTC made it official that that unqualified environmental language would be viewed as deceptive marketing, strengthening the Two Sides call for change.
     
    “Two Sides has no desire to cause unnecessary negative publicity for these companies or to undermine their cost-saving and efficiency reasons for driving customers towards e-billing, but claims that print and paper are environmentally unfriendly need to stop,” says Two Sides President Phil Riebel. “Rather than call these respected companies out publicly with greenwashing complaints, we’d much prefer to amicably work with them behind the scenes to help develop messaging that meets the Green Guides standards for environmental marketing,” he says. “However, we’re prepared to use the strongest means necessary to put an end to the use of unsupported environmental claims that are potentially damaging to the paper, printing and mailing sectors which support millions of U.S. jobs.”   
  • Quad Soon to Be Colombia's Top Commercial Printer

    Printer News, |

    5/14/2013 12:00:00 AM

    Quad/Graphics-Bogota will become Colombia's largest commercial printer in terms of production capacity after it installs a new, highly productive 64-page web offset press this year.

    Designed for high-quality, high-page-count print work, the single-web Goss Sunday 4000 will be the largest, fastest offset press in Colombia, capable of printing up to 64 pages with each rotation of its printing cylinders. The press, scheduled to start up in the second half of July, will allow the printer to greatly expand its production of magazines, catalogs and retail inserts for customers in Colombia and other Latin American nations, according to Tony Scaringi, Quad/Graphics' President & General Manager of Latin America.

    "Colombia's economy continues to grow and this new press will enable Quad/Graphics to quickly meet the print needs of marketers, retailers and publishers who are also growing in Colombia," Scaringi said, noting the nation's Gross Domestic Product increased by a better-than-expected 4 percent in 2012. "No other press in Colombia can match its speed and quality."

    In addition to magazines, catalogs and retail inserts, the versatile press is well-suited for printing books and telephone directories. It will also allow the Bogota plant to increase exports to Central American nations and the Caribbean. Installation will begin in May and be completed in the July.

  • China Shengda Packaging Group Reports First Quarter 2013 Results

    Packaging News, |

    5/14/2013 12:00:00 AM

    China Shengda Packaging Group Inc., a leading Chinese paper packaging manufacturer, today announced its financial results for the three months ended March 31, 2013.

    Mr. Daliang Teng, Chief Executive Officer of China Shengda Packaging Group commented, "Our revenues for the three months ended March 31, 2013 declined slightly to $27.1 million from $28.5 million for the same period of last year mainly due to the decline in overall sales volume, reflecting continued challenges in macro environment faced by our customers. However, we are pleased to see our gross margin continue to improve, increasing approximately 34 basis points from the same period of last year and 18 basis points sequentially. We are also excited to announce that the construction of our paper mill is finally near its completion and we expect production to commence by the end of the second quarter of 2013."

    First Quarter 2013 Financial Highlights:
    •Revenues decreased by 4.8% to $27.1 million for the first quarter of 2013, mainly due decrease in sales volume.
    •Gross profit decreased by 3.1% to $5.3 million for the first quarter of 2013 from $5.5 million for the same period of 2012. Gross margin increased by 34 basis points to 19.5% for the first quarter of 2013.
    •Net income attributable to the Company's common stockholders decreased by $0.6 million, or 43.3%, to $0.9 million for the first quarter of 2013 from $1.5 million for the same period of 2012.

  • Appleton Papers Announces Company Name Change to Appvion, Inc.

    Producer News, |

    5/14/2013 12:00:00 AM

    Appleton Papers announced today that the company changed its name to Appvion, Inc. The new name reflects the company's heritage of innovation in applying chemistry to paper and microencapsulation as a means to create value for its customers.

    Commenting on the name change, Appvion's chairman, president and chief executive officer, Mark Richards , said, " Charles Boyd founded our company 106 years ago today with the belief that he could add value to paper by applying coatings to it. Since then, company employees have used their ingenuity and ability to adapt their expertise to new opportunities to prove that Mr. Boyd's idea was sound, profitable and enduring.

    "Our company's success has been based on using applied chemistry to increase the performance of paper. More recently our expertise in microencapsulation has enabled us to partner with companies like Procter & Gamble to enhance the performance and value of a growing range of consumer and industrial products."

    Richards added that while producing thermal, carbonless, security and other specialty coated papers will continue to be an important part of the company's product offering, adopting the name Appvion reflects the company's entry into diverse new markets and makes it clear that paper won't be the only component of the company's future success.

  • Domtar to Make $20 Million in Upgrades to Hawesville Mill in Kentucky

    Producer News, |

    5/14/2013 12:00:00 AM

    Governor Steve Beshear [May 9] announced Domtar Paper Company LLC plans to upgrade and add equipment at its Hawesville facility (Kentucky), retaining 452 jobs and investing up to $20 million in capital improvements.

    “Domtar Paper is making a solid commitment to growing its success here in the Commonwealth,” said Gov. Beshear. “This partnership will lead to the retention of 452 jobs and an investment of $20 million near Hawesville, two extremely good reasons to mark this as a time for celebration.”

    Domtar Paper operates 13 mills across the world, including the Hawesville Mill, a large pulp and paper facility. The Hancock County plant makes approximately 80,000 tons of market hardwood pulp, which is used for paper production, and about 600,000 tons of printing grade paper each year.

    The company plans to upgrade existing equipment and invest up to $10 million to construct a new conveyor system, which will allow Domtar to transport its product directly between the plant and the nearby Ohio River. The system is expected to lower operating expenses, reduce greenhouse gases and help retain the existing 452 jobs at the facility.

  • Fortress Paper Announces First Quarter 2013 Results

    Producer News, |

    5/14/2013 12:00:00 AM

    Fortress Paper Ltd. reported 2013 first quarter EBITDA loss of $2.6 million. Excluding corporate costs, combined EBITDA loss of the three business segments Fortress operated in during the first quarter of 2013 was $0.3 million in the three months ended March 31, 2013. The recently discontinued Specialty Papers Segment contributed $10.5 million EBITDA, while the Dissolving Pulp Segment and the Security Paper Products Segment generated EBITDA losses of $8.7 million and $2.1 million, respectively. Corporate costs contributed to EBITDA loss in the amount of $2.3 million.

    Fortress reported a net loss (including discontinued operations) of $12.4 million, or diluted loss per share of $0.85 for the first quarter of 2013 on sales of $99.7 million. In the fourth quarter of 2012, the Company reported a net loss of $4.2 million or diluted loss per share of $0.29 on sales of $96.1 million, and for the first quarter of 2012 net loss of $10.7 million or diluted loss per share of $0.75 on sales of $61.4 million.

    The Fortress Specialty Cellulose mill is still considered to be in ramp up mode working towards full capacity and operating efficiencies. Although market prices for dissolving pulp improved in the first quarter of 2013, our sales in one quarter are typically secured by the end of the previous quarter. The combination of the lower realized dissolving pulp prices and challenges experienced at the mill contributed to disappointing results in the first quarter of 2013.

  • WTI Crude Trades Near One-Week Low on U.S. Stockpiles

    Miscellaneous News, |

    5/14/2013 12:00:00 AM

    West Texas Intermediate crude traded near the lowest level in more than a week on forecasts that U.S. supplies climbed to the highest since at least 1931 amid production the IEA said is “transformative” for world markets.

    Futures fluctuated in New York, after declining a third day yesterday, on speculation that rising supplies will counter signs of an economic recovery. Crude inventories probably increased 450,000 barrels to 396 million in the week ended May 10, according to a Bloomberg News survey before Energy Department data tomorrow. Growth in North American production will be as significant for markets as China’s economic boom, the International Energy Agency said.

    “Supply-demand is skewed to the oversupply side,” said Michael Poulsen, an analyst at Global Risk Management in Middelfart, Denmark. “There is currently a lot of spare capacity, and global crude overproduction. The multi-decade high in U.S. supply will keep weighing on WTI.”

    WTI for June delivery was at $94.99 a barrel, down 18 cents, in electronic trading on the New York Mercantile Exchange at 11:05 a.m. London time.

  • Ahlstrom's Board of Directors sign new demerger plan relating to Coated Specialties business in Brazil

    Producer News, |

    5/14/2013 12:00:00 AM

    Ahlstrom Corporation's Board of Directors have today signed a new demerger plan related to Coated Specialties, Ahlstrom's Label and Processing business in Brazil, and cancelled the previous Coated Specialties demerger plan. Under the signed demerger plan, all the assets and liabilities contained in the Ahlstrom Group, that belong to the Coated Specialties business in Brazil, will be transferred to Munksjö Oyj through a partial demerger. The demerger is part of the process through which Ahlstrom's Label and Processing business and Munksjö AB will be combined.

    The signing of the new demerger plan and cancellation of the previous one were needed since Ahlstrom and Munksjö will not be able to receive all relevant regulatory approvals before May 27, 2013, when the demerger decision made by Ahlstrom's Extraordinary General Meeting of the Shareholders expires. As announced before, Ahlstrom expects to complete the demerger of the Label and Processing business in Brazil during the second half of 2013. Ahlstrom will later this month publish a separate invitation to a new Extraordinary Shareholders' Meeting, which is required to obtain approval for the new Coated Specialties demerger plan.

  • Glatfelter Announces 5% Price Increase for Its Filtration Papers

    Producer News, |

    5/14/2013 12:00:00 AM

    Glatfelter, a global supplier of specialty papers and fiber-based engineered materials, today announced price surcharges of five percent for all beverage filtration papers, effective immediately. The announcement comes as a result of high energy and raw material costs.

    Martin Rapp, Vice President and General Manager for Glatfelter's Composite Fibers Business Unit said, "With the exception of electricity which cost remains relatively flat in Europe, the cost for all raw materials and energy has continued to rise gradually in the last 18 months. This has put immense pressure on margins at a time when additional capacity is needed to support long term growing demand."

    "We understand that this price increase is difficult for our customers, but the current economics are not sustainable. We have made extensive efforts in the last years to reduce our overall costs and increase efficiency in an attempt to mitigate the impact of these escalating costs on our customers. However, we have been unable to counterbalance the full impact of rising input costs in the last years."

    Mr. Rapp continued, "Realistically, I do not see any relief from input cost inflation in the near-term, but we are talking and working with our customers to find ways of reducing the impact of these changes within the global supply chain."

  • Ahlstrom committed to further investments in the new Munksjö

    Producer News, |

    5/14/2013 12:00:00 AM

    Ahlstrom Corporation has today signed an amendment agreement with EQT, the principal owner of Munksjö, related to the proposed combination of Ahlstrom's Label and Processing business area and Munksjö AB, to create Munksjö Oyj, a leading manufacturer of specialty papers. The amendment agreement covers an additional equity investment in Munksjö Oyj and the net debt position of Ahlstrom's Label and Processing business in Europe (LP Europe) and Munksjö AB as per March 31, 2013. The agreement also details the consequences of the commitments that Ahlstrom and Munksjö AB have provided to address the competitive concerns of the European Commission with respect to the abrasive backings and pre-impregnated decor paper businesses that are part of the planned combination.

    To strengthen the balance sheet and to address the consequences of the remedy proposal made to the EU Commission, the parties have agreed to make an equity investment in the new Munksjö Oyj totalling approximately EUR 28.5 million, in addition to the previously agreed EUR 100 million. The equity investment will be made by Ahlstrom, EQT and the shareholders of Munksjö AB through Munksjö AB. Ahlstrom has increased its original commitment by EUR 16.0 million to EUR 78.5 million and EQT has increased its original commitment by EUR 1.0 million to EUR 13.5 million by subscribing and paying for additional new shares in Munksjö Oyj. Munksjö AB's commitment amounts to EUR 11.5 million.

  • IP Announces Price Increase

    Producer News, |

    5/14/2013 12:00:00 AM

    Effective with orders shipped on or after June 17, 2013, we will increase prices on our IP C2S publishing grades as follows:  IP Courtland C2S (All Finishes & Weights) $1.50/cwt

    All other standard differentials, upcharges, and shipping policies for all products will apply. If you have any questions regarding these changes, please call your International Paper sales representative.

  • Ahlstrom introduces its expanded interleaved Sterile Barrier Systems offering

    Producer News, |

    5/14/2013 12:00:00 AM
    Ahlstrom, a global high performance fiber-based materials company, introduces its expanded interleaved Sterile Barrier Systems (SBS) offering, Ahlstrom Reliance® Tandem. This expansion introduces SMS (Spunbond-Meltblown-Spunbond) technology into our offering. The company aims to better meet customers' needs and provide unique SBS solutions.
     
    Ahlstrom's sterile barrier systems are a trusted and an integral part of the central sterilization department in hospitals. Previously, our interleaved offering consisted of crepe and wetlaid technologies. To help our customers stay ahead, Ahlstrom now offers a complete interleaved portfolio with the introduction of SMS into our Ahlstrom Reliance® Tandem portfolio. Ahlstrom Reliance® Tandem utilizes our newest technology, SMS, in combination with our existing technologies to provide the optimal combination of sterile barrier system sheets for sequential wrapping.
     
    Ahlstrom Reliance® Tandem or interleaving is the concept of combining two layers of SBS sheets, each offering specialized performance for sequential wrapping. The two layers are used together to offer a high degree of flexibility in terms of performance, technology and cost for different applications.
  • Grainger Reports April 2013 Sales Results

    End User News, |

    5/13/2013 12:00:00 AM
    Grainger today reported sales results for the month of April 2013.  Daily sales increased 8 percent versus April 2012, and included 3 percentage points from volume, 2 percentage points from price, 2 percentage points from acquisitions and 2 percentage points from the timing of the Easter holiday, partially offset by a 1 percentage point decline from foreign exchange.  The month of April 2013 had 22 selling days versus 21 selling days in April 2012.  The 2013 second quarter will have 64 selling days, the same as the 2012 second quarter. 
  • comScore: Online sales up 13% in Q1

    End User News, |

    5/13/2013 12:00:00 AM
    E-commerce sales grew 13% year-over-year to $50.2 billion, marking the fourteenth consecutive quarter of positive year-over-year growth and tenth consecutive quarter of double-digit growth, according to comScore. It was also just the second quarter on record to surpass $50 billion in spending.
     
    The survey also revealed that nearly half (48%) of time spent in the retail category occurred on mobile devices, with smartphones (34%) outpacing tablets (14%).
     
    "The first quarter of 2013 was fairly strong for online retailers, with total e-commerce sales surpassing $50 billion for only the second time on record," said comScore chairman Gian Fulgoni. "While the year-over-year growth rate of 13% remained healthy, it was a point or two below that of the preceding quarters. One potential explanation for this mild deceleration is the payroll tax increase, which went into effect in 2013 and which removed some disposal income from Americans' wallets.”
     
    Fulgoni added that, as long as job growth continues and consumer sentiment remains positive, the outlook for e-commerce in 2013 remains bright.
  • Forest Industry Demonstrates Ongoing Commitment to Boreal Agreement

    Environmental News, |

    5/13/2013 12:00:00 AM

    Forest companies belonging to the Forest Products Association of Canada (FPAC) today announced their ongoing commitment to the landmark Canadian Boreal Forest Agreement (CBFA) by agreeing to dedicate more than $4 million to implementation over the next two years.  Companies will also work with their environmental partners to raise additional resources to redouble efforts aimed at moving the historic accord forward.

     The commitment comes as the CBFA is about to celebrate its third anniversary and work is accelerating right across the country on the twin pillars of  protecting the environment including threatened woodland caribou while ensuring a viable forest products industry.   The agreement first signed on May 18, 2010 by Canadian companies and conservation groups is the largest and most complex deal of its kind ever reached anywhere in the world.
     
    “Our member companies are truly committed to this deal and have agreed to this additional  contribution of funds to ensure the CBFA can be implemented effectively.” says the President and CEO of FPAC, David Lindsay.  “We fully intend to continue the dedicated and hard work now underway to achieve the ambitious goals of the agreement to protect both the ecological values of the boreal while allowing for continued economic development in the communities which depend on the forest.
     
    Lindsay says the additional $4 million will further help the scientific rigour, planning, mapping and consultations across the boreal.  This commitment is in addition to the hundreds of people in the forest industry already dedicated to CBFA implementation.

  • Crude Shipments Seen at Six-Month High as OPEC Output Expands

    Miscellaneous News, |

    5/13/2013 12:00:00 AM

    Crude-oil shipments jumped to a six-month high as Asian demand will probably lead the Organization of Petroleum Exporting Countries to expand output, according to Morgan Stanley.

    Bookings of oil tankers from the Middle East, the largest loading region, rose 27 percent from last week to 79 million barrels, 55 percent above the prior four-week average, Fotis Giannakoulis, a New York-based analyst at the investment bank, said in an e-mailed report today. Asia-bound cargoes accounted for two-thirds of the charters, he said.

    The hires helped rates for very large crude carriers on eastbound voyages rise 22 percent last week, reaching $10,000 a day for the first time in three months, according to Giannakoulis. Seasonal demand accounted for most of the increase, with spot bookings in the last four weeks down 14 percent compared with a year ago, he said.

    “Crude chartering activity increased sharply last week to the highest level in over six months,” Giannakoulis said in the report. “OPEC production is likely on the rise, with Far East flows driving the incremental demand.”

  • BPA: Digital circulation up 2.8%

    End User News, |

    5/13/2013 12:00:00 AM
    About a third (33.8%) of the b-to-b and consumer publications audited by BPA Worldwide reported digital circulation for the second half of last year, the organization said. A total of 520 print titles reported digital circulation for the six-month period ended Dec. 31, a 2.8% increase over the year-earlier period. BPA Worldwide said digital circulation now accounts for about 22% of its audited qualified circulation.
  • Patagonia Commits ‘$20 Million & Change’ in Venture Funding

    Environmental News, |

    5/13/2013 12:00:00 AM
    Patagonia yesterday launched an internal fund to invest in environmentally responsible startups focused on clothing, food, water, energy and waste.
     
    In a May 6 letter announcing the in-house venture fund, called $20 Million & Change, Patagonia founder Yvon Chouinard — a long-time advocate of corporate environmental stewardship — said the company intends to help “like-minded, responsible start-up companies bring about positive benefit to the environment.”
     
    The fund’s name, Chouinard says, is a nod to the starting amount, $20 million, with the ability to grow and “change the way business is done.”
     
    The company has not yet identified startups to invest in; a Patagonia spokesperson tells Environmental Leader that most funding will be in the $500,000 to $5 million range and will include equity investments and minority and majority partnerships, as well as joint ventures.
     
    With the launch of this fund, the company has also reorganized Patagonia and its other businesses within a new holding company called Patagonia Works. Chouinard says Patagonia Works is dedicated to using business to help solve the environmental crisis.
  • USPS: Q2 $1.9 billion loss highlights continued urgent need for comprehensive legislation

    End User News, |

    5/13/2013 12:00:00 AM

    The U.S. Postal Service ended the second quarter of its 2013 fiscal year (Jan. 1 – March 31) with a net loss of $1.9 billion. The Postal Service continues to grow revenue and reduce expenses by using the tools available to it under existing law. However, without passage of comprehensive legislation to provide the Postal Service with a workable business model for today’s marketplace, large quarterly financial losses will continue.

    "To return the Postal Service to solvency requires a comprehensive approach, which is reflected in our updated Five-Year Business Plan," said Postmaster General and CEO Patrick Donahoe. "The plan provides an achievable roadmap to restore financial stability and preserve affordable mail service for the American public. The major elements of the plan must be pursued and executed within a short window of opportunity to avoid unsustainable losses and potentially becoming a long-term burden to the American taxpayer."

    The Postal Service needs to save $20 billion annually by 2016. Many of the savings cannot be achieved without the following legislative action: Require a USPS Health Care Plan (resolves the Retiree Health Plan prepayment issue); Refund the FERS overpayment and adjust the FERS payment schedule; Adjust delivery frequency (six-day package/five-day mail delivery); Streamline the governance model; Allow USPS the authority to expand products and services; Require a defined contribution retirement plan for future postal employees; Provide instructions to arbitrators to consider USPS’s financial condition in interest arbitration awards; Reform workers’ compensation

    The Postal Service has already reached its debt limit of $15 billion. It also has defaulted on $11.1 billion due for retiree health benefits in 2012 and also expects to default on an additional $5.6 billion on September 30, 2013. In addition, the Postal Service owes an estimated $17 billion on future workers’ compensation claims. "These obligations of nearly $50 billion and continuing losses highlight the need for immediate legislative reform to give us the latitude to execute on our Five-Year Plan and improve our ability to repay these obligations and return to profitability," said Chief Financial Officer Joe Corbett.

  • JoS. A. Bank Clothiers Provides Fiscal Year 2013 First Quarter Earnings Update

    End User News, |

    5/13/2013 12:00:00 AM
    JoS. A. Bank Clothiers, Inc. announces that earnings for the first quarter of fiscal year 2013 are expected to be approximately $0.27 to $0.30 per diluted share, compared with $0.53 per diluted share in the first quarter of 2012. Actual results will depend on, among other things, adjustments that may arise from the normal quarter-end processing. The first quarter of fiscal year 2013 ended May 4, 2013; the first quarter of fiscal year 2012 ended April 28, 2012.
     
    Commenting on the earnings update, R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc. stated: "While we were able to control our expenses and improve our advertising efficiency in the quarter, our gross margin was down primarily due to higher inventory sourcing costs and lower average selling prices due mostly to increased percentage of sales of winter clearance products. In addition, our sales declined approximately 3%, primarily in April. Like many other retailers, we were also affected by the unseasonably cool weather. On the positive side, our Direct Marketing business, primarily on the Internet, continued to perform well, with double-digit sales growth. The Company continues to maintain a strong balance sheet and, despite the slow start to the new year, the first quarter of fiscal year 2013 will still be profitable."
     
    "For the remainder of 2013, we will continue to focus on our goal of returning to previous levels of gross margin rates and advertising productivity. As such, we will continue to test, evaluate and refine our merchandising and advertising offerings to optimize the appeal to our customers. Additionally, starting this spring, we have introduced new and more focused casual assortments and additional slim-fit suit inventories responding to customer demand," continued Mr. Black.
  • PPA PUBLISHING+: Print still brings in 78% of consumer mag revenue

    End User News, |

    5/10/2013 12:00:00 AM

    Consumer magazine publishers still generate a massive 78% of their total revenues from their print products, according the fourth annual Publishing Futures report.

    The survey of senior magazine executives predicts the figure will fall to 71% over the next two years, while income from the publishers’ digital brands will rise from 8% to represent 15% of total revenue during the same period.
     
    By comparison, the survey found B2B publishers make only 40% of their revenue from print products, partly due to their increased focus on brand extensions through events.
     
    The Publishing Futures report launched at today’s Professional Publishers Association’s Publishing+ conference at the Hilton London Metropole. It predicts that advertising and sponsorship will retain a stable share of publisher’s total revenues over the next two years, declining slightly from the current 36% of total revenues to 35% by 2014.
     
    Digital will play a greater role in magazine ad revenues, growing its share from 17% to 27% in the next two years. The report also found that multi-channel advertising packages were increasingly leading to sponsorship deals rather than traditional advertising positioning.
     
    The economic climate is causing continued challenges to publishers, the survey found, hitting advertising budgets and circulation and putting pressure on rates. Publishers also felt threatened by advertisers speaking more directly with their customers using information from their own databases.

  • George Martin Named 2013 PIMA Executive of the Year

    Producer News, |

    5/10/2013 12:00:00 AM

    George F. Martin, president and chief executive officer, NewPage Corporation, has been named winner of the 2013 PIMA Executive of the Year Award. The award is PIMA’s highest honor and is bestowed on senior-level executives in the pulp, paper or converting industries for excellence in management and outstanding contributions to the industry as a whole.

    “During an exemplary career in senior management and operations spanning 29 years in the industry George Martin has exemplified the strong leadership skills and vision that are absolutely critical for success in today’s global pulp and paper business,” said Larry N. Montague, TAPPI president and CEO. “His leadership and hard work provided important contributions to NewPage’s growth and emergence as one of North America’s leading printing and specialty paper producers. His accomplishments as a leader and his many contributions to the industry make him an outstanding choice as PIMA Executive of the Year.”

  • Donahoe Lays Out the Future of the USPS

    End User News, |

    5/10/2013 12:00:00 AM
    Post Master General and CEO Patrick Donahoe of the U.S. Postal Service painted a grim picture during his State of the USPS presentation to attendees at the American Catalog Mailers Association’s  2013 National Catalog Forum on May 8.
     
    According to Donahoe, in 2003 the USPS delivered 51 billion pieces of mail, this year they deliver 21 billion pieces.
     
    “It’s almost a $14 billion loss,” said Donahoe.  “We have lost that much volume, when you are in the catch up mode like we are you never get ahead unless you put a business plan through.”
     
    According to Donahoe, with the loss of money, infrastructure goes and employees are forced to take lower wages and mailers are paying higher prices
     
    “We don’t want to do that,” Donahoe said.  The USPS, he said, is $15 billion in debt with another $16 billion in deferred payments for health benefits, so they are looking at over $30 billion dollars in debt.
     
    Expenses exceed revenue and the gap is growing. The bottom-line is with pre-funding and once pre-funding ends there is a substantial gap the postal service needs to fill, according to Donahoe.
     
    “The labor costs represent 78% of postal service costs, we’ll probably never get under 70%,” said Donahoe.
     
    Plans are in place however to address the issues in front of the postal service. Plans begin with addressing health care, network consolidations and the postal service has eliminated 21 thousand delivery routes.
  • Gap Inc. Reports Strong Sales for April

    End User News, |

    5/10/2013 12:00:00 AM

    Gap Inc. today reported net sales for the first quarter of fiscal year 2013 increased 7 percent compared with the first quarter of fiscal year 2012 and that April 2013 net sales increased 5 percent compared with last year.
     
    “We are pleased with our sales performance this month, led by our largest brands, Gap and Old Navy,” said Glenn Murphy, chairman and chief executive officer of Gap Inc.  

    Net sales for the first quarter, which ended May 4, 2013, were $3.73 billion compared with $3.49 billion for the first quarter last year.  In addition, net sales for the four-week period ended May 4, 2013 were $1.21 billion compared with net sales of $1.15 billion for the four-week period ended April 28, 2012.

  • AAA Fuel Gage & Exchange Rates

    Miscellaneous News, |

    5/10/2013 12:00:00 AM

    AAA Fuel Gage 5/10/13
    National Unleaded Regular:
    Current Average - $3.560/gallon
    Month Ago Average - $3.572/gallon
    Year Ago Average - $3.739/gallon
    Highest Recorded Average - $4.114/gallon on 7/17/08
    Diesel:
    Current Average - $3.881/gallon
    Month Ago Average - $3.983/gallon
    Year Ago Average - $4.060/gallon
    Highest Recorded Average - $4.845/gallon on 7/17/08

    Current Exchange Rates as of 5/10/13
    American Dollar to Canadian Dollar = 0.997260
    American Dollar to Chinese Yuan = 0.162783
    American Dollar to Euro = 1.300603
    American Dollar to Japanese Yen = 0.009843
    American Dollar to Mexican Peso = 0.082984

  • WTI Crude Drops a Second Day; Goldman Sees Brent Gap Narrowing

    Miscellaneous News, |

    5/10/2013 12:00:00 AM

    West Texas Intermediate crude fell a second day, trimming a third weekly gain, as rising supplies countered signs of economic growth.

    Futures slid as much as 0.8 percent, extending yesterday’s 0.2 percent drop, as the dollar gained versus the euro, damping the appeal of commodities priced in the U.S. currency. Brent crude retreated 0.5 percent, leaving its premium versus WTI at $8.18 a barrel. Goldman Sachs Group Inc. said in a report today that spread may narrow to $5 in the third quarter.

    “Oil prices continue to move in the opposite direction to equities with a slightly weaker tone on the back of a stronger U.S. dollar,” said Michael Hewson, a market analyst at CMC Markets Plc in London who expects WTI to peak at $98 this year. “Perceptions of weak demand need to change for oil prices to move higher. WTI needs to take out this years highs at $98 and Brent needs to take out $107 to suggest a move higher.”

    WTI for June delivery dropped as much as 83 cents to $95.59 a barrel in electronic trading on the New York Mercantile Exchange and was at $95.73 as of 11:07 a.m. London time.

  • SkyMall names Kevin Weiss as new CEO

    End User News, |

    5/10/2013 12:00:00 AM
    Phoenix-based SkyMall Inc. has named Kevin Weiss as its new CEO.
     
    Weiss will work closely with SkyMall employees as well as Christine Aguilera and Marie Foster, presidents of in-flight and loyalty businesses, respectively, to further the firm’s expansion. Weiss has more than 30 years of sales, marketing and technology experience to SkyMall.
     
    He comes to SkyMall, a subsidiary of Phoenix-based Najafi Cos., from Author Solutions, a self-publishing company, where he most recently served as president and CEO. Before his time at Author Solutions, Weiss was president of McAfee Inc.
     
    “SkyMall is an iconic brand with access to innovative products and a unique operating platform,” Weiss said in a statement. “I look forward to engaging with our company’s customers, partners, team members and shareholders to continue expanding and growing the enterprise.”
     
    SkyMall is fortunate to have someone with Weiss’ expertise and experience at the helm, said Najafi CEO Jahm Najafi.
  • All Citizens Should have the Option for Paper

    End User News, |

    5/10/2013 12:00:00 AM

    Erik Heilman - Director, Government Affairs
    If you’re reading this, you’re either online right now or you’ve printed    it out.  You chose which method – electronic or paper – you    preferred.  That’s the principle behind AF&PA’s view that people    should be able to choose whether to pay bills, communicate with    friends and colleagues, read a book, etc. electronically or on paper.    Unfortunately, many government agencies don’t see it that way.  

    Recently, federal agencies have been eliminating services and communications such as social security documents, tax documents, and savings bonds in a paper format forcing them to electronic-only formats.  What’s more, citizens relying on these services aren’t given a choice in the matter.  To spotlight this problem, Congressman Sean Duffy (R-WI) teamed with Congressman Mike Michaud (D-ME) to introduce a non-binding resolution in the US House of Representatives that says the federal government should take all appropriate measures to ensure that citizens continue to be provided with paper-based information, products and services, and public notices while providing the ability for all citizens to opt-in to electronic delivery if they so choose. 

    The fact is, millions of Americans cannot access information in electronic formats or simply prefer paper documentation.   Perhaps you know someone who doesn’t have reliable internet access or doesn’t want to be told they have to receive things in an email only.  According to a recent survey done by Consumers for Paper Options, 72% of respondents said the government should continue to provide important documents and records in paper form.  The move to digitize all forms of communication disadvantages nearly 30% of American households without Internet access, 45% of seniors who do not own a computer, and 8% of the population who choose to not maintain a bank account. 

    Paper and digital formats can be complementary; those who wish to receive paper-based communications and documentation should have that choice and not be forced to digital delivery or forgo the information or service altogether.

  • NewPage Reports First Quarter 2013 Results

    Producer News, |

    5/10/2013 12:00:00 AM
    First Quarter 2013 NewPage Holdings Quarterly Report & Exhibits
    2013 FIRST QUARTER FINANCIAL HIGHLIGHTS
    • Net sales were $756 million in the first quarter of 2013 compared to $760 million in the first quarter of 2012.
    • Higher sales volume and improved product mix were more than offset by lower average paper prices in the first quarter of 2013 compared to the first quarter of 2012.
    • Average paper prices were $887 per ton in the first quarter of 2013 compared to $906 per ton in the first quarter of 2012.
    • Paper sales volume increased to 826,000 tons in the first quarter of 2013 compared to 821,000 tons in the first quarter of 2012.
    • Net loss was $11 million in the first quarter of 2013 compared to a net loss of $123 million in the first quarter of 2012. The improvement was the result of cost reduction initiatives, as well as lower reorganization items and lower interest expense due to the elimination of our pre-petition debt upon our emergence from bankruptcy proceedings.
  • Neenah Paper Reports 2013 First Quarter Results

    Producer News, |

    5/9/2013 12:00:00 AM

    Neenah Paper, Inc. today reported adjusted earnings from continuing operations of $0.74 per diluted common share in the first quarter of 2013 compared to adjusted earnings of $0.77 per share in the first quarter of 2012. Without adjustments, reported earnings in the first quarter of 2013 were $0.73 per diluted share and compared to $0.54 per share in the prior year period. Adjusted earnings excluded costs of $0.01 per share in 2013 to integrate brands purchased from Southworth in January 2013 and excluded costs of $0.23 per share in 2012 for acquisition costs and a pension settlement charge. Adjusted earnings are reconciled to comparable GAAP figures later in this release.

    Adjusted earnings per share of $0.74 in the first quarter of 2013 included the impact of $0.07 per share from a higher effective tax rate in 2013. Adjusted operating income of $22.3 million was slightly above prior year with increases in Fine Paper offsetting lower income in Technical Products. The impact of the higher effective tax rate more than offset benefits of higher operating income and lower interest expense in 2013.

    Net sales of $213.2 million in the first quarter of 2013 increased eight percent compared with the first quarter of 2012. Revenues increased in both segments, with growth in Fine Paper aided by additional volumes from acquired brands.

  • The Yankee Candle Company, Inc. Reports Fiscal 2013 First Quarter Results

    End User News, |

    5/9/2013 12:00:00 AM

    Yankee Holding Corp. and The Yankee Candle Company, Inc. today announced financial results for the first quarter ended March 30, 2013.  Yankee Holding Corp., a direct subsidiary of YCC Holdings LLC, is a holding company that was formed in connection with the Company's Merger with an affiliate of Madison Dearborn Partners, LLC ("MDP") on February 6, 2007 (the "Merger"), and is the parent company of The Yankee Candle Company, Inc.

    Net sales for the first quarter of 2013 were $163.4 million as compared to net sales of $155.1 million during the first quarter of 2012, an increase of $8.3 million or 5.4%.  Retail sales were $89.2 million for the first quarter of 2013 as compared to $81.0 million during the first quarter of 2012.  Sales from the Company's Wholesale segment were $43.6 million during the first quarter of 2013, as compared to $50.2 million during the first quarter of 2012.  Sales in the Company's International segment were $30.6 million during the first quarter of 2013, compared to $23.9 million during the first quarter of 2012. 

    The Company recorded a net loss of $1.7 million during the first quarter of 2013 compared to a net loss of $3.5 million during the first quarter of 2012. 

  • Verso Paper Corp. Reports First Quarter 2013 Results

    Producer News, |

    5/9/2013 12:00:00 AM

    Verso Paper Corp. today reported financial results for the first quarter of 2013. Results for the quarters ended March 31, 2013 and 2012 include:
    • Operating loss of $1.1 million in the first quarter of 2013, compared to operating loss of $12.3 million in the first quarter of 2012.
    • Net loss of $38.4 million in the first quarter of 2013, or $0.72 per diluted share, compared to net loss of $73.9 million, or $1.40 per diluted share, in the first quarter of 2012.
    • EBITDA of $22.3 million in the first quarter of 2013, compared to ($10.5) million in the first quarter of 2012, and Adjusted EBITDA before pro forma effects of profitability program of $20.1 million in the first quarter of 2013, compared to $25.3 million in the first quarter of 2012 (Note: Adjusted EBITDA is a non-GAAP financial measure and is defined and reconciled to net income later in this release).

    Overview
    Verso's net sales for the first quarter of 2013 decreased $42.1 million, or 11.2%, compared to the first quarter of 2012, reflecting an 11.2% decline in total sales volume, which was driven by the closure of the Sartell mill in the third quarter of 2012. The average sales price per ton was consistent with the same period in the prior year. Verso's gross margin was 12.4% for the first quarter of 2013 compared to 10.1% for the first quarter of 2012.

    Verso reported net loss of $38.4 million in the first quarter of 2013, or $0.72 per diluted share, which included $2.9 million of net gains from special items, or $0.05 per diluted share, primarily due to unrealized gains on energy-related derivative contracts and gains on the sale of our Sartell mill and Fiber Farm LLC. Verso had a net loss of $73.9 million, or $1.40 per diluted share, in the first quarter of 2012, which included $34.9 million of charges from special items, or $0.66 per diluted share.

  • Tronox Reports First Quarter 2013 Financial Results

    Miscellaneous News, |

    5/9/2013 12:00:00 AM

    First Quarter 2013:
    • Revenue of $470 million; adjusted EBITDA of $73 million; adjusted EBITDA margin of 15.5 percent
    • Mineral Sands segment revenue of $298 million; adjusted EBITDA of $157 million
    • Vertical integration on plan, as 69 percent of feedstock revenue derived from intercompany sales, up from 59 percent in fourth quarter 2012
    • Although average market prices declined, Tronox CP titanium slag pricing up versus fourth quarter last year as portion of legacy sales contracts priced below market expired
    • Zircon recovery continues with revenue up 6 percent sequentially driven by 47 percent volume growth
    • Pigment segment revenue of $288 million; adjusted EBITDA of ($37) million
    • Pigment revenue up 13 percent versus fourth quarter last year, driven by 23 percent volume increase to reach highest level since third quarter 2011; selling prices declined 8 percent

    Tom Casey, chairman and CEO of Tronox, said: "Our first quarter financial results came in as we expected, strong in Mineral Sands and soft in Pigment.  However, pigment volumes increased by 23 percent compared to the fourth quarter 2012 to the highest level since the third quarter 2011.  We have now seen volume increases for two consecutive quarters and believe this may signal the end of artificially low demand levels caused primarily by customer destocking that occurred in 2012.  In addition, zircon volumes increased 47 percent from the fourth quarter 2012.  Our vertical integration continues on plan with more than two-thirds of our titanium feedstock sales going to our Pigment business.  Our finished pigment inventory reduced from 81 days to 71 days and the average utilization rate across our pigment plants remained in the mid-70s percent range."

    Casey continued: "We continue to anticipate the global market for pigment to strengthen in the second half of this year.  Our financial position is strong.  We have built strategic flexibility.  Our markets are beginning to reflect increasing demand.  Our integration plan is on track to more fully demonstrate the material cost advantages it gives us as we capture margin at both feedstock and pigment levels.  As a result, we have the ability to pay a regular dividend yielding an attractive return, while at the same time evaluate strategic opportunities to expand our scale relative to the market without expanding supply in a currently over-supplied market.  We remain confident in the long term value creation potential of our business and intend to deliver that value to our shareholders."

  • RR Donnelley Introduces Roundtable(TM) Secure Collaboration Solution

    Printer News, |

    5/9/2013 12:00:00 AM

    R. R. Donnelley & Sons Company today introduced Roundtable, a cloud-based document management platform designed to enhance the speed and security of global business collaboration. The Roundtable solution provides clients with a platform to securely manage and share content internally as well as externally with professional advisors, counsel and consultants.

    "We provide a continuum of services that enable secure collaboration and document review ranging from Roundtable to our Venue® virtual data room solution," said Tom Juhase, President of RR Donnelley's Financial Services offering. "Roundtable offers an affordable, quickly implemented means of boosting security and flexibility for everyday document management. Its versatility allows users to interact from their desktops or mobile devices."

    Built with RR Donnelley's industry-leading content management resources and incorporating capabilities from technology providers including Google and Microsoft, the Roundtable platform offers an intuitive, user-friendly interface. It allows professionals to quickly and securely upload, store and share files of virtually any type from anywhere in the world.

  • Sappi results for 2nd quarter ended March 2013 reflect mixed markets

    Producer News, |

    5/9/2013 12:00:00 AM

    Summary for the quarter
    •European business impacted by lower prices and higher pulp costs
    •Specialised Cellulose projects on track, major shuts completed
    •Profit for the period US$7 million (Q2 2012 US$58 million)
    •EPS 1 US cent (Q2 2012 11 US cents)
    •Operating profit excluding special items US$40 million (Q2 2012 US$125 million)

    Commenting on the result, Sappi Chief Executive Officer Ralph Boettger said:

    "The Specialised Cellulose and North American businesses continue to perform well and the investments in the conversions at the Ngodwana and Cloquet Mills have progressed according to plan.  Dissolving wood pulp production is scheduled to start at these two mills during the 3rd quarter.  As indicated in the previous quarter, we expected operating profit for the second quarter to be lower than that of the first quarter. The actual performance was weaker than expected however, due to weaker European market conditions and an inability to implement any meaningful coated graphic paper price increases in Europe during the past quarter.  This led to a weak overall group performance.

    "Looking forward, market conditions for our paper businesses, particularly in Europe are expected to continue to be weaker than previously envisaged. The price increases in Europe, to date, have not been sufficient to restore margins given rising input costs. Despite the interventions and major cost reductions that have taken place, we expect the European business to only achieve a breakeven operating profit excluding special items for the full year. This performance necessitates further action and we are evaluating a number of options that could result in capacity and cost reductions in our European business. Further measures are also being implemented in the Southern African business. The Specialised Cellulose and North American businesses are expected to continue to perform according to plan.

    "Notwithstanding the weak European performance, and the impact of the commissioning and start-up of the two major dissolving wood pulp projects, we believe that the group will at worst breakeven at the net profit excluding special items level for the full year. We expect net debt to peak at approximately US$2.4 billion in the third quarter and thereafter to decrease to approximately US$2.2 billion by the end of the financial year.

    "Despite the generally tough market conditions and the once-off impact of our major transitionary projects on the current year's performance, our actions and investments will position the group well for improved performance from 2014 onwards."

  • News Corporation Reports Third Quarter FY2013 Results

    End User News, |

    5/9/2013 12:00:00 AM

    News Corporation today reported $9.54 billion of total revenue for the three months ending March 31, 2013, a $1.14 billion or 14% increase over the $8.40 billion of revenue reported in the prior year quarter. Approximately 55% of the revenue increase reflects growth at the Cable Network Programming, Filmed Entertainment and Television segments, partially offset by lower revenues at the Publishing segment. The balance of the growth primarily relates to the inclusion of Sky Deutschland AG (“Sky Deutschland”) and Fox Sports Australia revenues.

    The Company reported third quarter total segment operating income(1) of $1.36 billion, as compared to $1.31 billion reported a year ago. The improvement was led by operating income growth at the Company’s Cable Network Programming, Filmed Entertainment and Television segments. The third quarter results included $42 million of costs related to the ongoing investigations initiated upon the closure of The News of the World as compared to $63 million in the corresponding period of the prior year. This year’s third quarter results also included $25 million of costs related to the proposed separation of the Company’s entertainment and publishing businesses. Excluding these costs from both years, third quarter adjusted total segment operating income of $1.43 billion increased $54 million or 4% from $1.38 billion reported in the third quarter of the prior year.

    The Company reported quarterly net income attributable to stockholders of $2.85 billion ($1.22 per share), as compared to $937 million ($0.38 per share) reported in the corresponding period of the prior year. This quarter’s pre-tax results included $2.43 billion of income in Other, net, principally related to gains on the acquisition of an additional ownership stake in Sky Deutschland and the sale of the ownership stake in SKY Network Television in New Zealand, as well as a $11 million gain from the Company’s participation in British Sky Broadcasting’s (“BSkyB”) share repurchase program, which is reflected in Equity earnings of affiliates. These gains were partially offset by $56 million of restructuring charges, primarily related to the Company’s international newspaper businesses. Excluding the net income effects of these items, the costs related to the investigations in the U.K. and the proposed separation of the Company’s entertainment and publishing businesses, along with comparable items in both years, third quarter adjusted earnings per share(2) was $0.36 versus the adjusted prior year quarter result of $0.37.

  • Costco Wholesale Corporation Reports April Sales Results

    End User News, |

    5/9/2013 12:00:00 AM

    Costco Wholesale Corporation today reported net sales of $7.98 billion for the month of April, the four weeks ended May 5, 2013, an increase of seven percent from $7.48 billion during the similar period last year.

    For the thirty-five weeks ended May 5, 2013, the Company reported net sales of $69.00 billion, an increase of nine percent from $63.59 billion during the similar period last year.

  • Cascades releases financial results for the first quarter of 2013

    Producer News, |

    5/9/2013 12:00:00 AM

    Cascades Inc., a leader in the recovery and manufacturing of green packaging and tissue paper products, announces its unaudited financial results for the three-month period ended March 31, 2013.
    Q1-2013 Highlights
    · Sales of $914 million (compared to $904 million in Q4-2012 (+1%) and $891 million in Q1-2012 (+3%))
    · Excluding specific items
    o EBITDA of $68 million (compared to $70 million in Q4-2012 (-3%) and $72 million in Q1-2012 (-6%))
    o Net loss per share of $0.04 (compared to a net loss of $0.06 in Q4-2012 and net earnings of $0.01 in Q1-2012)*

    On a segmented basis, maintenance expenses and lower average prices due to increased promotional activities in Canada and increased competition in the US affected our Tissue Papers sector. On the Containerboard front, the operating rate of our containerboard mills has improved during the first quarter. However the current weakness of the Canadian economy impacted our corrugated product business as order levels in Eastern Canada were lower than expected. This Group was also impacted by the production of lower margin products by our boxboard manufacturing mills in North America. In Europe, lower energy prices and higher volumes more than offset the impact of lower selling prices. As for fiber, costs for brown grades and virgin pulp were higher than during the previous quarter which also impacted our results.”

  • Brent Declines for Third Day as U.S. Crude Supplies Climb

    Miscellaneous News, |

    5/9/2013 12:00:00 AM

    Brent futures fell for a third session as crude inventories in the U.S. increased. Iraq resumed oil exports via Turkey today after a halt caused by sabotage to a pipeline.

    Brent dropped as much as 0.8 percent. Total U.S. crude stockpiles rose by 230,000 barrels, according to the Energy Department. Iraq’s state-run North Oil Co. repaired the pipeline to Turkey following a bombing attack yesterday in the city of Mosul. The weekly U.S. jobless claims will be announced at 8:30 a.m. Washington time and are expected to show an increase to 335,000, according to a Bloomberg survey.

    “The market looks to be taking stock, awaiting the next economic data,” said Michael Hewson, a market analyst at CMC Markets Plc in London who expects WTI to peak at $98 this year. “It’s a demand story at the moment as inventories keep rising. We need positive economic news to stop the fall and that could come with the weekly jobless claims.”

    Brent for June settlement fell as much as 78 cents to $103.56 a barrel, and was at $103.87 as of 11:25 a.m. London time on the ICE Futures Europe exchange. The volume of all contracts traded was 5 percent above the 100-day average.

    West Texas Intermediate for June delivery was down 48 cents at $96.14 a barrel in electronic trading on the New York Mercantile Exchange.

  • Avery Dennison Launches Matrix Recycling Tool for Label Sustainability

    Packaging News, |

    5/9/2013 12:00:00 AM

    Avery Dennison has launched a matrix recycling tool on its website to help its converter customers divert and process scrap. The tool is located at: label.averydennison.com/en/home/solutions/sustainability.html.

    “Many of our customers are actively improving their sustainability footprint,” said Rosalyn Bandy, sustainability manager, Avery Dennison Materials Group. “We have created this matrix recycling tool as a response to those looking to reduce their impact by sending less waste to landfills.”

    The interactive map features a directory that indicates locations of non-landfill operations or energy-from-waste facilities. Most of these operations process discarded pressure-sensitive scrap materials generated by label presses into clean, renewable energy sources. One such method is fuel pellets, which can be a direct substitute for coal but with a lower carbon and overall emissions footprint.

  • Limited Brands Reports April 2013 Sales

    End User News, |

    5/9/2013 12:00:00 AM

    Limited Brands, Inc. reported a comparable store sales increase of 2 percent for the four weeks ended May 4, 2013, compared to the four weeks ended May 5, 2012.  The company reported net sales of $660.5 million for the four weeks ended May 4, 2013, compared to net sales of $659.0 million for the four weeks ended April 28, 2012.

    The company reported a comparable store sales increase of 3 percent for the 13 weeks ended May 4, 2013, compared to the 13 weeks ended May 5, 2012.  The company reported net sales of $2.268 billion for the 13 weeks ended May 4, 2013, an increase of 5 percent compared to sales of $2.154 billion for the 13 weeks ended April 28, 2012.

  • Cenveo Announces First Quarter 2013 Results

    Printer News, |

    5/9/2013 12:00:00 AM

    Cenveo, Inc. today announced results for the three months ended March 30, 2013.

    The Company generated net sales of $432.3 million for the three months ended March 30, 2013, compared to $455.6 million for the same period last year. The decrease in net sales was primarily due to lower sales in our print and envelope segment as a result of decreased volumes from our primary print customers due to timing of current year production schedules versus the prior year, a journal plant closure that occurred in the first quarter of the prior year and lower office product envelope sales due to the transition of low margin accounts out of our operating platform. These decreases were partially offset by higher sales from our direct envelope customers due to our initiatives to increase market share. Net sales from our label and packaging segment were relatively flat for the first quarter of 2013 due to our decision to exit low margin business within our packaging platform along with a disruption due to a temporary loss of a press as a result of a fire in one of our packaging facilities, which has been offset largely by our e-commerce initiatives and new account wins in our label business.

    Operating income was $13.9 million for the three months ended March 30, 2013, compared to $14.2 million for the same period last year. The decrease in operating income was primarily due to lower sales, higher input costs in smaller raw material categories and inefficiencies related to a press fire in one of our packaging facilities, offset in part by lower restructuring, impairment and other charges. Non-GAAP operating income was $20.4 million for the three months ended March 30, 2013, compared to $31.6 million for the same period last year. A reconciliation of operating income to non-GAAP operating income is presented in the attached tables.

    For the three months ended March 30, 2013, the Company had a loss from continuing operations of $19.2 million, or $0.30 per share, compared to a loss of $22.6 million, or $0.36 per share for the same period last year. Non-GAAP loss from continuing operations was $9.2 million, or $0.14 per share, for the three months ended March 30, 2013, as compared to non-GAAP income from continuing operations of $3.3 million, or $0.04 per share, for the same period last year. A reconciliation of loss from continuing operations to non-GAAP (loss) income from continuing operations is presented in the attached tables.

  • Torstar Corporation Reports First Quarter Results

    End User News, |

    5/8/2013 12:00:00 AM

    Torstar Corporation today reported financial results for the first quarter ended March 31, 2013.

    Highlights for the quarter:
    • Total Segmented Revenue was $332.4 million in the first quarter of 2013, down $18.4 million from $350.8 million in the first quarter of 2012.

    • Total Segmented EBITDA (see “non-IFRS measures”) was $29.4 million in the first quarter of 2013, down $9.4 million from $38.8 million in the first quarter of 2012.

  • Stein Mart, Inc. Reports April 2013 Comparable Store Sales Increase of 8%

    End User News, |

    5/8/2013 12:00:00 AM
    Stein Mart, Inc. today reported that total sales for the four-week period ended May 4, 2013 increased 1.6 percent and comparable store sales increased 8.0 percent.
  • RR Donnelley Expands Fast Growing Logistics Offering With New International Services Location

    Printer News, |

    5/8/2013 12:00:00 AM

    R. R. Donnelley & Sons Company announced today that it has further expanded its fast growing logistics services offering with the opening of a new international services facility in Lyndhurst, New Jersey. This new operation extends the company's physical presence, complementing its facilities in the Midwest and on the West Coast. 

    RR Donnelley's International Logistics Services offering provides international mailing and parcel delivery services to e-commerce, pharmaceutical, financial services, information technology, catalog, direct mail and other businesses. 

    The company's national logistics network offers mail processing services regionally to reduce overall transit times and provide even faster delivery outcomes. The new facility offers a full menu of mail and parcel delivery services.

  • Quad/Graphics Reports First Quarter 2013 Results

    Printer News, |

    5/8/2013 12:00:00 AM

    Quad/Graphics, Inc. today reported results for its first quarter ending March 31, 2013. The reported results include Vertis from the day of acquisition on January 16, 2013. With the exception of certain debt ratios, prior year financial results do not include the acquisition of Vertis.

    “Our first quarter results were in line with our expectations and we reaffirm our previously released 2013 annual guidance,” said Joel Quadracci, Quad/Graphics Chairman, President & CEO. “In addition, we are pleased with our progress to date on the integration of Vertis. Our integration team has been focused on cost-savings initiatives and improving the overall efficiency and productivity of our platform, while also ensuring we continue to serve our clients well. Going forward, we remain focused on improving productivity; maintaining a strong and flexible balance sheet; investing in our existing business as well as pursuing profitable investment opportunities; and creating long-term value for our shareholders.”

    Net sales for the first quarter 2013 were $1.1 billion versus $990 million for the same period in 2012. First quarter 2013 Adjusted EBITDA was $114 million compared to $126 million for the same period in 2012, and Adjusted EBITDA margin was 10.1% compared to 12.7% for the same period in 2012. Recurring Free Cash Flow was $120 million versus $107 million for the same period in 2012.

  • Marketplace Fairness Act Sails Through Senate

    End User News, |

    5/8/2013 12:00:00 AM

    In a vote of 69 to 27 yesterday evening, the U.S. Senate overwhelmingly approved a bill to allow states to collect taxes from online sellers that do $1 million or more in gross sales annually. The Marketplace Fairness Act of 2013 (S.743) now moves to the U.S. House of Representatives where passage is less certain.

    “We are grateful that the U.S. Senate has done the right thing and is standing up for Main Street retailers by passing the Marketplace Fairness Act,” said ABA CEO Oren Teicher, who thanked the bill’s sponsors, Senators Lamar Alexander (R-TN), Richard Durbin (D-IL), Michael Enzi (R-WY), and Heidi Heitkamp (D-ND), for introducing the legislation. “This victory is the direct result of the tireless work of thousands of booksellers nationwide, who, year after year, have advocated for sales tax fairness. Recognizing that this fight is far from over, importantly, today we are one very important step closer to leveling the playing field for Main Street retailers.”

    The retail industry—the largest private sector employer—is rapidly changing and evolving,” noted National Retail Federation board chairman Stephen I. Sadove. “Retailers compete for customers on many different levels, distribution channels, and fronts, including service and selection, but they cannot compete on sales tax. Congress needs to address this sales tax disparity and allow retailers to compete freely and fairly. Retailers of all shapes, sizes and channels deserve a level playing field.”

    The Retail Industry Leaders Association, with more than 200 members that together account for more than $1.5 trillion in annual sales, also welcomed the vote, which was more than two to one in favor of Marketplace Fairness. “The Senate’s overwhelmingly bipartisan passage of this legislation foreshadows the end of the special treatment of big online businesses at the expense of retailers on Main Street,” said Bill Hughes, senior v-p for government affairs. “After such a resounding vote in the Senate, we look forward to a constructive debate in the House to level the playing field for all retailers this year.”

  • Smurfit Kappa Advances Closure of Conainerboard Machines at Townsend Hook, UK

    Packaging News, |

    5/8/2013 12:00:00 AM

    Smurfit Kappa has brought forward plans to close the two existing containerboard machines at its papermaking facility at Townsend Hook in Kent and replace them with a single, more modern machine.

    The corrugated packaging company was originally planning to close the machines, which turn used cardboard and mixed paper into brown paper for use in cardboard, in 2014, with the new machine becoming operational in early 2015

    However, the firm announced [May 3] that the machines would be closing this July in a bid to ‘advance the start-up’ of the new machine.

    The company explained: “We have decided to bring forward the closure of our two existing paper machines at our Townsend Hook mill in the UK. They have a combined capacity of 250,000 tonnes and are expected to close on 1 July 2013, after the completion of a consultation process with all employees, instead of 2014 as originally planned.

    It continued: “We are bringing forward the closure in order to extend the training period for our workforce, advance the start-up of the new paper machine and increase the pace of the expected ramp up. The facility will be rebuilt (using a machine acquired from the Cadidavid liquidator in 2011) into one 250,000 tonne modern lightweight machine which will now be operational by quarter four of 2014 rather than quarter one 2015.”

  • KapStone Reports Record First Quarter Results

    Packaging News, |

    5/8/2013 12:00:00 AM

    KapStone Paper and Packaging Corporation today reported record results for the first quarter ended March 31, 2013.

    Roger W. Stone, Chairman and Chief Executive Officer, stated, "Our operations performed well during the quarter, propelling the Company to record first quarter results. Average mill selling prices of $653 per ton increased by $45 per ton compared to the first quarter of 2012.  In the first quarter of 2013, we realized 2012's domestic containerboard and corrugated price increases, and we benefitted from increasing prices of over $100 per ton on export containerboard sales compared to 2012's first quarter."

    Consolidated net sales of $319.8 million in the first quarter of 2013 increased by $20.0 million, or 6.7 percent, compared to $299.8 million for the 2012 first quarter, primarily due to full realization of the October 2012 $50 per ton containerboard price increase, higher box and sheet prices and continued recovery of export containerboard prices. Average mill selling prices per ton climbed to $653 from $608 a year ago. A better product mix in the 2013 quarter was partially offset by lower volume. 

    Operating income of $30.8 million for the 2013 first quarter increased by $3.3 million, or 12.1%, compared to the 2012 first quarter. The improved financial performance primarily reflects benefits from higher prices, partially offset by inflation on input, labor and benefit costs, higher outage costs, increased depreciation charges resulting mainly from the 2012 investment in new information systems and start-up expenses for the Company's new manufacturing plant in Aurora, Illinois. The first quarter's operating income included $2.3 million of stock compensation expense.  We expect total stock compensation expense to approximate $1 million for each of the remaining three quarters of 2013.

  • J. C. Penney Company, Inc. Reports Selected Preliminary Fiscal First Quarter Financial Information

    End User News, |

    5/8/2013 12:00:00 AM

    J. C. Penney Company, Inc. today released preliminary unaudited selected financial information for its fiscal first quarter ended May 4, 2013. The Company is providing this information in connection with its previously announced proposed senior secured term loan financing transaction. Given the Company's fiscal first quarter ended three days ago, the information that follows is preliminary and based upon information available as of today.  The Company expects to release its full fiscal first quarter results on May 16, 2013.

    As of the date of this release, the Company has not completed its financial close process for the quarter.

    For the first quarter of fiscal year 2013, jcpenney anticipates total sales of approximately $2.635 billion, a decrease of approximately 16.4 percent from $3.152 billion in the same period last year, and a comparable store sales decrease of approximately 16.6 percent for the quarter compared to the same period last year.  The sales decline in the first quarter is partially attributable to construction activities in connection with the transformation of the home departments in 505 stores. The Company noted that results for the quarter also reflect its prior pricing and marketing strategies, which are being changed under new leadership.

  • Catalogers cut back on paid search spending in 2012

    End User News, |

    5/8/2013 12:00:00 AM
    Paid search spending by catalog and call center retailers in the 2013 Internet Retailer Top 500 guide dipped in 2012 to a monthly average of $126,156 per retailer. That is 4.7% less than the 2011 average of $132,409.
     
    In comparison, the three other merchant groups in the Top 500 Guide—retail chains, consumer brand manufacturers and web-only retailers—outspent catalog and call center retailers in 2012, and on average increased their spending from 2011, according to Top 500 data.
     
    Retail chains in the Top 500 spent an average of $2.48 million monthly per merchant on paid search in 2012, a 64.2% increase from $1.51 million in 2011. Web-only retailers spent an average of $1.87 million, up 10.7% from 1.69 million in 2011. At $1.08 million in 2012, consumer brand manufacturers’ spending on paid search increased 4.9% from $1.03 million in 2011. There are 81 catalog/call center retailers in the Top 500; 66 consumer brand manufacturers; 158 retail chains; and 195 web-only retailers.
     
    There could be many reasons catalog and call center retailers reported lower monthly paid search spending, says Josh Dreller, director of marketing research for digital marketing firm Kenshoo Ltd.
  • HGTV Magazine and Food Network Magazine to Raise Rate Bases in 2014

    End User News, |

    5/8/2013 12:00:00 AM
    Hearst Magazines today announced rate base increases for its two newest titles, HGTV Magazine and Food Network Magazine. HGTV Magazine, which raises rate base to 800,000 with the July/August 2013 issue, will increase again, to one million, with the January/February 2014 issue. Food Network Magazine, which will increase to 1.55 million with the July/August 2013 issue, will raise its rate base twice in 2014: to 1.6 million in January/February, and then to 1.65 million with the July/August edition. Both titles are published by Hearst Magazines in partnership with their respective Scripps cable television networks, HGTV and Food Network.
     
    HGTV Magazine and Food Network Magazine each combine original content with coverage of well-known personalities from their sister cable networks, creating distinctive brands that have broken industry records.
     
    “Delivering a circulation of one million after only 18 months is a testament to our unique home/lifestyle content mix,” said Dan Fuchs, publisher and chief revenue officer of HGTV Magazine. “We have truly created a new category in the marketplace, and HGTV Magazine's energy and accessibility have immediately resonated with both readers and advertisers.”
     
    With newsstand sales averaging more than 300,000 copies, HGTV Magazine’s total circulation soared in the second half of 2012, according to the Alliance for Audited Media. Following a launch year filled with industry accolades in 2012, HGTV Magazine was named a finalist for a 2013 National Magazine Award—its first year of eligibility—for its “Help Wanted” section, which offers readers practical advice on household topics.
     
    Food Network Magazine will implement its ninth rate base increase with the upcoming July/August 2013 issue, to be followed by two increases in 2014 which will bring the rate base to 1.65 million. The magazine, which launched in 2008, is the number-one epicurean title and the fourth-best-selling monthly magazine on newsstands. Single-copy sales increased 10.4 percent in the second half of 2012 versus the same period in 2011, delivering a total circulation of 1,687,000.
  • Time Inc. Forms Strategic Alliance With Sprint Nextel Corp.

    End User News, |

    5/8/2013 12:00:00 AM

    Time Inc. is becoming evermore bullish in the mobile space—and a new strategic alliance with the Sprint Nextel Corp. will put its content front-and-center for millions of mobile users.
     
    “This is a deal with multiple prongs,” Cyrus Beagley, SVP and general manager of Time Inc.’s Advertising Sales & Marketing Group, tells FOLIO:. “There are three main pieces, and the first is content. We’re going to be working with Sprint over the next several months to create a customizable mobile app within the SprintZone, which comes pre-loaded on Sprint phones and will leverage our brands to provide the latest in entertainment, lifestyle, sports and business news.”
     
    The content within SprintZone will be updated in real time, pulling stories, photography and video from Time Inc. brands, with users able to customize their experience by brand.

  • Brent Drops for Second Day Amid Rising U.S. Crude Supply

    Miscellaneous News, |

    5/8/2013 12:00:00 AM

    Brent futures dropped for a second day after industry data showed U.S. crude inventories climbed for a second week.

    Futures dropped as much as 0.8 percent after declining 1 percent yesterday. U.S. crude supplies increased 680,000 barrels last week, the American Petroleum Institute said. An Energy Information Administration report today may show stockpiles gained 2 million barrels, rising from the most in more than 82 years, according to a Bloomberg News survey. The EIA cut its forecasts for West Texas Intermediate and Brent on increasing output and lower global consumption. Bank of America said WTI drop to average $90 a barrel this year.

    Brent for June settlement fell as much as 87 cents to $103.53 a barrel and was at $103.78 as of 11:11 a.m. local time on the London-based ICE Futures Europe exchange. The European benchmark grade was at a premium of $8.34 to WTI compared with $8.78 yesterday. The spread was $8.58 on May 3, the narrowest based on closing prices since December 2011.

    WTI for June delivery was at $95.37 a barrel, down 25 cents, in electronic trading on the New York Mercantile Exchange.

  • NewPage Coated Web Price Announcement

    Producer News, |

    5/8/2013 12:00:00 AM

    Effective with all new and existing orders with confirmed delivery dates of July 1, 2013 or later, NewPage is implementing the following price increase:

    Arborweb Plus® web;  Sterling® Ultra web;  Sterling® Ultra Caliper web; Arborweb® web;  Orion® web;  Vision® web;  Escanaba® web;  Dependoweb® web  -- $1.50/cwt US$/CAD$

    This increase applies to all basis weights, finishes and related private label grades.

  • UPM Finalises the Sale of its Closed Stracel Paper Mill to Blue Paper SAS

    Producer News, |

    5/7/2013 12:00:00 AM

    UPM has completed the sale of assets and part of the land of the UPM Stracel paper mill site to Blue Paper SAS, the joint venture company of VPK Packaging Group NV and Klingele Papierwerke.

    “We are very pleased that we have been able to find a good solution to the Stracel mill. Blue Paper offers a new industrial future for the site and a new opportunity for a number of Stracel employees. We want to express our thanks to all the parties involved in this process," says Jyrki Ovaska, President of the UPM Paper Business Group.

    Blue Paper SAS will convert the mill to produce recycled fibre-based fluting and test-liner. The production is expected to start after completing investments in autumn 2013. Blue Paper SAS is creating 130 new jobs at the mill that have been offered to former Stracel employees.

    The sale of Stracel was part of UPM’s plan to adjust its magazine paper and newsprint paper capacity to match the needs of its global customer base originally announced in August 2011. UPM stopped the production of coated magazine paper on the mill on 4th January 2013.

  • OfficeMax Reports First Quarter 2013 Financial Results

    End User News, |

    5/7/2013 12:00:00 AM

    OfficeMax® Incorporated, a leading provider of office and facility supplies, technology and services, today announced the results for its fiscal first quarter ended March 30, 2013. 

    Consolidated Results: Reported Results
    Total sales were $1,766.7 million in the first quarter of 2013, as compared to $1,872.9 in the first quarter of 2012.  For the first quarter of 2013, OfficeMax reported operating income of $101.9 million compared to $17.8 million in the first quarter of 2012, and net income available to OfficeMax common shareholders of $56.3 million, or $0.64 per diluted share, compared to net income of $4.9 million, or $0.06 per diluted share in the first quarter of 2012. 

    Adjusted Results
    Excluding the impact of changes in foreign exchange rates, the impact of stores closed and opened, and the difference in the number of business days in the quarter compared to the same quarter last year, adjusted sales for the first quarter of 2013 decreased 4.3% from the first quarter of 2012. 

    For the first quarter of 2013, adjusted operating income was $22.4 million, or 1.3% of sales, compared to $41.0 million, or 2.2% of sales, in the first quarter of 2012; and adjusted net income available to OfficeMax common shareholders was $10.1 million, or $0.11 per diluted share, compared to $19.0 million, or $0.22 per diluted share, in the first quarter of 2012. 

  • Metsä Group’s operating result for January–March was EUR 89 million excluding non-recurring items

    Producer News, |

    5/7/2013 12:00:00 AM

    Result for the first quarter of 2013
    – Sales amounted to EUR 1,261 million (1–3/2012: EUR 1,284 million).
    – Operating result excluding non-recurring items was EUR 89 million (53). Operating result including non-recurring items was EUR 94 million (45).
    – Result before taxes excluding non-recurring items was EUR 57 million (18). Result before taxes including non-recurring items was EUR 62 million (10).
    – Return on capital employed excluding non-recurring items was 9.7 per cent (5.7).
    – Due to increase in working capital, cash flow from operations amounted to EUR -20 million (43).

    “All of our business areas improved their operating profit for the first quarter compared to the previous year. The wood supply business has been active, the profitability of tissue and cooking papers continued to develop favourably and increased folding boxboard order inflow provides a good foundation for the future development of our paperboard business.

    Metsä Group has been investing in increasing the production and utilisation of bioenergy at its mills for years. Of the fuels used by the Group, 80 per cent is wood-based, and therefore our fossil carbon dioxide emissions have decreased by 27 per cent in 2009–2012. The Joutseno pulp mill is carbon dioxide-neutral in normal operation due to the new bark gasification plant, and we are also aiming for similar developments at our other pulp mills. The use of renewable energy is also increasing in Sweden, with the bioenergy plant planned in conjunction with the Mariestad tissue paper mill due for completion at the end of next year.

  • Catalyst Paper cuts loss despite weak markets

    Producer News, |

    5/7/2013 12:00:00 AM

    Catalyst Paper posted a net loss of $9.8 million ($0.89 per common share) in the first quarter of 2013. The loss was $11.6 million before specific items. Improvement over the final quarter of 2012 – when the company recorded a loss of $35.2 million ($1.55 per common share) and $15.7 million before specific items – was driven by increased prices for pulp, and lower maintenance costs.

    Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) in the first quarter were $11.2 million, up from $7.2 million in the final quarter of 2012. Adjusted EBITDA was not impacted by restructuring costs in either quarter.

    “The Chinese economic rebound has driven pulp shipments and prices up,” said Catalyst President and CEO Kevin J. Clarke. “But we had much tougher conditions on the paper side of the business, with a 10% drop in North American demand for newsprint and a 15% decrease in directory paper. Labour costs also tipped up due to unforeseen maintenance requirements. The fact that we improved EBITDA indicates how much better positioned we are after last year’s restructuring.”

    Benchmark prices and North American demand were down for all paper grades. Demand for lightweight coated declined by 5.3 % while remaining flat for uncoated mechanical. Directory demand was down 15.3 % and newsprint demand fell by 10.2 %.  Our newsprint sales volumes were up over a year ago in part due to customer interest in Marathon Lite, while sales volumes for our specialty grades declined in the quarter. Lower sales volumes for paper were partly due to a production shortfall resulting from certain unforeseen maintenance events in the quarter.
     
    The Northern Bleached Softwood Kraft (NBSK) pulp markets continued to recover in the first quarter as improved demand from Western Europe and North America helped offset a slowdown in China.  Global demand slipped by 1.6 % from a strong first quarter in 2012, but increased from fourth quarter shipments.  Benchmark pulp prices continued to improve moderately during the quarter, although excess inventory build-up in China was observed.

  • WTI Drops First Day in Four as U.S. Stockpiles Seen Rising

    Miscellaneous News, |

    5/7/2013 12:00:00 AM

    West Texas Intermediate crude fell for the first time in four days before government data that may show U.S. stockpiles rose from an 82-year high. Saudi Arabia increased production to the most in five months.

    Futures slid as much as 0.9 percent in New York after the biggest three-day gain since the first week of August. U.S. crude supplies probably climbed by 2 million barrels last week, according to a Bloomberg News survey before the Energy Information Administration report tomorrow. Saudi Arabia raised output to 9.32 million barrels a day in April, a person with knowledge of the country’s production said. China’s external trade probably slowed last month, a separate survey showed.

    “We are probably going to be presented with another weekly inventory rise from the U.S. tomorrow, and that obviously does bring the focus that the market is still well supplied,” Ole Hansen, head of commodity strategy at Saxo Bank A/S in Copenhagen, said in a telephone interview. “Whether we are ready to see a return toward the $110 level, which is the average for the last few years, it’s probably too early to say.”

    WTI for June delivery declined as much as 90 cents to $95.26 a barrel in electronic trading on the New York Mercantile Exchange and was at $95.66 at 10:38 a.m. London time.

  • Appleton Reports First Quarter 2013 Results

    Producer News, |

    5/7/2013 12:00:00 AM

    Appleton’s first quarter 2013 net sales of $210.8 million decreased 4.0% compared to first quarter 2012 net sales of $219.6 million. Adjusting for the Company’s decision to discontinue the sale of carbonless papers into certain non-strategic international markets, first quarter net sales were up 1.5%. The thermal papers segment experienced its fifth consecutive quarter of sales growth. First quarter 2013 sales of thermal papers were 13.9% higher than the previous year quarter and 5.4% higher than fourth quarter 2012.

    Appleton reported first quarter 2013 operating income of $17.9 million compared to an operating loss of $50.0 million during first quarter 2012. First quarter 2013 results include savings from the strategic supply agreement with Domtar while prior year results included restructuring expense and other related costs of $61.3 million related to ceasing papermaking operations at its West Carrollton, Ohio facility. In addition, current quarter selling, general and administrative expenses (“SG&A”) were $3.7 million lower than first quarter 2012 due to lower distribution costs, compensation and employee benefits expense, bad debts expense and commissions expense. First quarter 2012 spending also included $0.4 million of costs associated with the discontinued business combination transaction.

  • Appleton Coated Price Announcement

    Producer News, |

    5/7/2013 12:00:00 AM
    Effective with shipments on or after July 1, 2013, Appleton Coated will be increasing the transaction prices by $1.50/cwt on the following web grades:
    U2:XG web; Utopia Two web; Utopia Three web; Utopia Book web; Utopia Thin Book web; Utopia Film Coat web; Utopia GW Book web; All private label web
  • Walgreens April Sales Increase 3.8 Percent

    End User News, |

    5/6/2013 12:00:00 AM

    Walgreens had April sales of $5.98 billion, an increase of 3.8 percent from $5.76 billion for the same month in fiscal 2012.

    Total front-end sales decreased 2.9 percent compared with the same month in fiscal 2012, while comparable store front-end sales decreased 4.3 percent. Customer traffic in comparable stores decreased 5.9 percent while basket size increased 1.6 percent.

    For the combined March/April period that includes the Easter holiday season, comparable store front-end sales decreased by 0.2 percent, while customer traffic in comparable stores decreased 4.0 percent and basket size increased 3.8 percent.

  • The Washington Post Company Reports First Quarter Earnings

    End User News, |

    5/6/2013 12:00:00 AM

    The Washington Post Company today reported net income attributable to common shares of $4.7 million ($0.64 per share) for the first quarter ended March 31, 2013, compared to $31.0 million ($4.07 per share) for the first quarter of last year. Net income includes $1.4 million in losses ($0.18 per share) and $17.6 million in income ($2.35 per share) from discontinued operations for the first quarter of 2013 and 2012, respectively. Income from continuing operations attributable to common shares was $6.1 million ($0.82 per share) for the first quarter of 2013, compared to $13.5 million ($1.72 per share) for the first quarter of 2012. As a result of the Company’s share repurchases, there were 5% fewer diluted average shares outstanding in the first quarter of 2013.

    The results for the first quarter of 2013 and 2012 were affected by a number of significant items as described in the following paragraphs. Excluding these items, income from continuing operations attributable to common shares was $25.2 million ($3.46 per share) for the first quarter of 2013, compared to $9.3 million ($1.18 per share) for the first quarter of 2012.

  • Stein Mart, Inc. Reports 2012 Results, Completion of Restatement and Plans for 2013

    End User News, |

    5/6/2013 12:00:00 AM

    Stein Mart, Inc. today announced financial results for the 2012 fiscal year and its second through fourth quarters, as well as the restated results for all 2011 periods and the first quarter of 2012 (see "Restated Results" for further information). All 2011 amounts in this release have been restated.

    Overview of Results
    Net income for the year ended February 2, 2013 was $25.0 million or $0.57 per diluted share compared to net income of $19.9 million or $0.44 per diluted share in 2011. EBITDA for the year ended February 2, 2013 was $60.1 million compared to $51.0 million in 2011 (see Note 1 in the attached materials). Fiscal 2012 results include the following:
    • $4.0 million of legal and accounting fees incurred in the fourth quarter related to the financial restatement ($2.5 million after tax or $0.05 per diluted share).
    • $2.1 million higher breakage income on unused gift and merchandise return cards as a result of changes in breakage assumptions during the second quarter of 2012 ($1.3 million after tax or $0.03 per diluted share).
    • $2.5 million tax benefit recorded in the fourth quarter resulting from the tax impact of the deductibility in 2012 of previously non-deductible financial statement accruals relating to the elimination of the post-retirement life insurance benefits ($0.05 per diluted share).

     Excluding these items, the Company would have net income of $23.8 million, or $0.54 per diluted share, and EBITDA of $62.0 million for the year ended February 2, 2013.

     For the fourth quarter, net income was $13.5 million or $0.30 per diluted share compared to net income of $5.9 million or $0.13 per diluted share in 2011.

  • Caraustar Industries sold to investment firm

    Packaging News, |

    5/6/2013 12:00:00 AM

    Caraustar Industries, an Austell-based provider of recycled paperboard products, is now majority owned by another investment firm.

    Wayzata Investment Partners completed its sale of Caraustar to an affiliate of H.I.G. Capital, the companies announced this week.

    Wayzata acquired its stake in Caraustar in 2009 while the Austell company was in Chapter 11 bankruptcy court protection. The company produces tubes and cores, folding cartons, gypsum facing paper and specialty paperboard products.

    “Caraustar is a market leader with a blue chip customer base, broad geographic footprint and an efficient, high quality manufacturing base,” H.I.G. principal Tenno Tsai said in a statement. “We believe there are numerous market opportunities going forward and we look forward to supporting Mike and his team in achieving continued growth.”

  • Will Catalogers Wage a Fight For Fairness?

    End User News, |

    5/6/2013 12:00:00 AM

    Big brick-and-mortar retailers like Walmart and Target have locations in every state and already pay taxes there, so they will cheer on the anticipated passage of the Marketplace Fairness Act by the United States Senate next week. Specialty catalog sellers and e-commerce sites, many of them small operations, feel that the administrative burden of paying state taxes could threaten their survival. While the National Retail Federation and the Retail Industry Leaders Association have been lobbying the issue for years on behalf of the big chains, catalogers have been unduly quiet on the issue. That changes next week with an emergency “fly-in” to get their message before key members of the House of Representatives who can derail the bill.

    “The other side has been putting tens of millions of dollars behind the effort to pass this bill for years. But, to be perfectly frank, most catalog companies have just ignored this,” says Hamilton Davison, president and executive director of the American Catalog Mailers Association. “The tax provisions in this bill are not doable for SMBs. We in the catalog industry are going to ignore this at our own peril.”
     
    Davison and his board took the occasion of the group's National Catalog Forum kicking off in Washington next Wednesday to recruit members to fly in a day early and express their displeasure over the bill to members of the House Judiciary and Oversight & Government Reform committees. While the bill contains provisions that state governments must simplify their tax codes for out-of-state collection, the ACMA's position is that the bill as written would tip the scales in the favor of the big retailers.
     
    “If you are a retailer doing business in a state, you have an address there, you are a citizen. If you have a problem, you can ask for redress in a local court,” Davison explains. “But if you are cataloger that is out of state and you have an unfair tax judgment, you have to ask the state tax commissioner to overturn it. How likely is that? This is taxation without representation.”

  • WTI Crude Advances After Syria Blames Israel for Attacks

    Miscellaneous News, |

    5/6/2013 12:00:00 AM

    West Texas Intermediate crude headed for the biggest three-day gain in nine months as air strikes in Syria renewed concern that unrest will spread in the Middle East and disrupt supply. London’s Brent oil rose.

    WTI futures climbed as much as 1.6 percent in New York after Syria’s state news agency said Israeli aircraft attacked a military research center on the outskirts of Damascus yesterday. The offensive was a “declaration of war,” Syria’s deputy foreign minister told CNN. Israel didn’t confirm involvement. The Middle East accounted for 33 percent of global crude output in 2011, according to BP Plc (BP/)’s Statistical Review of World Energy. WTI capped a second weekly gain May 3 after U.S. employment rose more than forecast.

    “If the geopolitical events between Israel and Syria start to escalate, the market will automatically write in a premium and you should see a spike in the price of oil,” said Jonathan Barratt, the chief executive officer of Barratt’s Bulletin, a commodity newsletter in Sydney. “The key on the topside is $98.50 and a break of that area may send the price to $100. Another couple of bombings and you will see it.”

    WTI for June delivery gained as much as $1.56 to $97.17 a barrel in electronic trading on the New York Mercantile Exchange and was at $96.23 at 3:12 p.m. Singapore time.

  • BillerudKorsnas announces sale of paper machine in Gävle

    Packaging News, |

    5/6/2013 12:00:00 AM
    In order to satisfy one of the conditions set by the EU Commission for approval of the combination between Billerud and Korsnäs, an agreement has been signed with SwedPaper AB ("SwedPaper") concerning divestment of a paper machine (PM2) at the Gävle production unit. Production at PM2 in 2012 accounted for approximately 2% of BillerudKorsnäs’ total combined sales volume.
     
    Under the agreement, PM2 at the Gävle production unit will be sold to SwedPaper. The machine produces kraft and sack paper. The PM2 operation employs approximately 60 people, who will be offered employment with SwedPaper. Other operations at the Gävle production unit will not be affected by the sale and will remain in BillerudKorsnäs’ ownership.
     
    The parties have signed long-term commercial agreements, under which BillerudKorsnäs will inter alia supply input items such as pulp, steam and water to SwedPaper. Pricing for pulp will be in line with the market. Under the conditions of the agreement, BillerudKorsnäs will sell SwedPaper an annual volume of pulp amounting to a maximum of 66 000 tons. Sales of pulp to PM2 will be accounted for in the Packaging Paper Business Area. At BillerudKorsnäs, the operations of PM2 have been accounted for under Other units.
  • New owner to merge 4 Wis. paper mills

    Producer News, |

    5/6/2013 12:00:00 AM

    Four Wisconsin paper mills are expected to merge under new ownership into the state's biggest papermaking company by employment.

    The New York private equity firm, KPS Capital Partners LP, has agreed to acquire Rhinelander and Mosinee paper mills from Wausau Paper Corp. and the Kaukauna and De Pere mills from Thilmany Papers, according to the Milwaukee Journal Sentinel.

    KPS previously has said it cannot finalize its acquisitions until a new union contract is approved, but the United Steelworkers has ratified a four-year collective bargaining agreement for three of the mills. The De Pere is a nonunion mill.

    According to a statement from the United Steelworkers' Pittsburgh headquarters, the union lauded KPS for its willingness to increase wages, improve health care benefits and "lock in retirement security."

    The creation of a new paper company takes places as the paper industry in Wisconsin, the nation's No. 1 papermaking state, is in a period of restructuring and consolidation.

    All four mills produce specialty papers for packaging, like candy wrappers and microwave popcorn bags to masking tape.

  • Ahlstrom announces price increases for specialty papers worldwide

    Packaging News, |

    5/6/2013 12:00:00 AM

    Ahlstrom, a global high performance fiber-based materials company, announces price increases on its specialty paper materials produced by the Label and Processing business. The price increases will be made to compensate for the continued high cost of raw materials and energy.

    The price increases will affect all Label and Processing products worldwide and will be effective for all shipments made as of July 1, 2013. The increase will up to 7% and the amount and timing will depend on the markets served, the product and the agreements in place. Specific details will be discussed with each customer individually in the near future.

    Products manufactured by Ahlstrom's Label and Processing business include graphic, packaging, processing, release and label papers.

  • Announcement from Evergreen Packaging

    Producer News, |

    5/6/2013 12:00:00 AM

    Effective with all new and confirmed orders shipping on or after July 1, 2013, Evergreen Packaging is increasing the transaction price of all coated groundwood products by $2.00/cwt. ($40/short ton).

    This increase applies to all products including, but not limited to the brands listed below.
    TruSpec4; TruSpec4.5; TruSpec5 All Basis Weights and Finishes

    All standard upcharges will continue to apply.

  • Verso Price Announcement

    Producer News, |

    5/6/2013 12:00:00 AM

    Effective with all orders shipping on or after July 1, 2013, Verso Paper Corp. is increasing the transaction price of the following Coated Freesheet and Coated Groundwood grades:

    Influence® Gloss; Influence® Matte; Influence® Soft Gloss; Velocity® Gloss; Velocity® Satin; Liberty® Gloss -  $1.50/cwt ($30/short ton)

    For all of the above grades this increase applies to all basis weights, bulks and finishes.

  • Smurfit Kappa Group plc has today announced results for the 3 months ending 31 March 2013

    Packaging News, |

    5/3/2013 12:00:00 AM

    First Quarter Highlights
    Improving corrugated demand and paper price increases should support corrugated price increases in the second half of 2013
    SK Orange County (‘SKOC’) integration and performance ahead of expectations. Synergy estimates doubled to US$28 million
    EBITDA margins in the Americas return to their historical range
    Proposed final 2012 dividend of 20.5 cent to be paid on 10 May

    Performance Review & Outlook
    Gary McGann, Smurfit Kappa Group CEO, commented: “The Group is pleased to report year-on-year revenue growth of 4% in the first quarter. Despite a number of one-off costs, EBITDA for the first quarter remained strong at €241 million. SKG’s performance reflects the previously guided margin compression in Europe following OCC and recycled paper price increases which are not yet reflected in corrugated pricing.

    A €40 per tonne recycled paper price increase in Europe during the quarter supports corrugated pricing. Input costs including OCC continue to move upwards. Paper price increases and a good inventory position across Europe are creating an environment for corrugated price recovery in the second half of 2013.

    The performance of SKOC and the progress of its integration into the Group has exceeded our original expectations. We have doubled our synergy expectations from US$14 million to US$28 million. Over US$9 million of this synergy target will be delivered in 2013 compared to US$6 million in the original pro-forma calculation. Additionally, the trading performance of the business has been significantly helped by the implementation of two paper price increases in the United States within an eight month period, with consequent increases in corrugated prices in the US and Mexican markets.

  • USW Paper Workers Ratify New Agreement with KPS to Ensure Their Mills' Future

    Producer News, |

    5/3/2013 12:00:00 AM

    United Steelworkers (USW) members at Wausau Paper's Rhinelander, Wis., and Mosinee, Wis., mills and the Thilmany mill in Kaukauna, Wis., today ratified a new collective bargaining agreement with KPS Capital Partners in anticipation of the private equity firm successfully creating the largest specialty paper company in North America.

    "We are proud of the leadership that our local unions have shown in bringing their respective memberships together to ratify this important deal in the specialty paper sector," said USW President Leo W. Gerard . "This particular piece of the industry still has enormous growth potential and has long been in need of a new strategic vision to capitalize on that opportunity."

    USW local 2-00015 and local 01778 represent the workers at the Rhinelander mill. USW local 2-00221 and local 2-00316 represent workers at the Mosinee mill. USW local 2-00020 represents workers at the Kaukauna, Wis., mill. This agreement represents a new beginning for about 1,400 paper workers at these three mills.

    "The overwhelming vote makes a powerful statement about how our members are committed to ensuring the long-term viability of these plants," said USW International Vice President Jon Geenen , who heads the union's paper sector.

  • Rite Aid Reports Same Store Sales for April

    End User News, |

    5/3/2013 12:00:00 AM

    Rite Aid Corporation today announced sales results for April.
     
    For the four weeks ended April 27, 2013, same store sales decreased 4.0 percent over the prior-year period. April front-end same store sales decreased 3.5 percent, negatively impacted by an earlier Easter this year compared to last year (March 31, 2013 versus April 8, 2012). Pharmacy same store sales, which included an approximate 454 basis points negative impact from new generic introductions, decreased 4.2 percent. Prescription count at comparable stores decreased 0.2 percent over the prior-year period.

    Same store sales for the eight-week period ended April 27, 2013 decreased 3.0 percent over the prior-year period. Front-end same store sales increased 0.1 percent while pharmacy same store sales decreased 4.4 percent. Prescription count at comparable stores increased 0.1 percent over the prior-year period.

  • Mercer International Inc. Reports 2013 First Quarter Results

    Producer News, |

    5/3/2013 12:00:00 AM

    Mercer International Inc. today reported results for the first quarter ended March 31, 2013. Operating EBITDA* in the first quarter of 2013 was €24.3 million ($32.1 million), compared to €30.6 million ($40.1 million) in the first quarter of 2012 and €21.3 million ($27.6 million) in the fourth quarter of 2012.

    For the first quarter of 2013, we had a net loss of €0.4 million ($0.5 million), or €0.01 ($0.01) per share, compared to net income of €1.2 million ($1.6 million), or €0.02 ($0.03) per share, in the first quarter of 2012 and a net loss of €5.2 million ($6.7 million), or €0.09 ($0.12) per share, for the fourth quarter of 2012.

  • Mag Bag: ASME Cover Winners Announced

    End User News, |

    5/3/2013 12:00:00 AM
    New York magazine’s dramatic aerial photograph of Manhattan half blacked-out after Hurricane Sandy won the Cover of the Year award from the American Society of Magazine Editors. The cover photo for the Nov. 12 issue, which shows all of Lower Manhattan darkened except for the very tip around Battery City, was even turned into a poster by The Museum of Modern Art.
     
    In other categories, Bloomberg Businessweek took the award for best cover in the Business and Technology category, for its mildly risqué February 6-12 issue showing sandwiched airliners in flight with the caption “Let’s Get It On,” referring to the merger between United and Continental.
     
    In the News and Politics category, the award again went to New York’s post-Sandy Manhattan cover. In the Entertainment and Celebrity category, the award went to The New York Times Magazine’s Dec. 23 issue, showing a bemused Jerry Seinfeld.
     
    In the Service category, the award went to Rotarian for its March 2012 cover on “The Future of Water.” In Fashion and Beauty, the award went to Harper’s Bazaar for its March 2012 issue, “Gwyneth Revealed,” depicting the actress in an ultra-high-slit dress. In Sports and Adventure, the award went to The New York Times Magazine for its August 26, 2012 cover “Deuce,” showing Venus and Serena Williams.
     
    The Lifestyle category award went to New York magazine, for its cover story on “Sex,” showing a couple about to lock lips. In the Brainiest category, the award went to Bloomberg Businessweek for its May 28-June 3 issue on the Euro crisis, with a large black circle on the cover with the words “Bang Head Here.” In the Most Delicious category, the award went toGarden & Gun’s October/November issue on Southern food, depicting a stack of delectable biscuit sandwiches. And in the Best Obama category, the award went to Bloomberg Businessweek for its November 12-18 issue, showing an aged Obama with the caption “The Next Four Years.”
  • AAA Fuel Gage & Exchange Rates

    Miscellaneous News, |

    5/3/2013 12:00:00 AM

    AAA Fuel Gage 5/03/13
    National Unleaded Regular:
    Current Average - $3.522/gallon
    Month Ago Average - $3.640/gallon
    Year Ago Average - $3.803/gallon
    Highest Recorded Average - $4.114/gallon on 7/17/08
    Diesel:
    Current Average - $3.878/gallon
    Month Ago Average - $4.007/gallon
    Year Ago Average - $4.095/gallon
    Highest Recorded Average - $4.845/gallon on 7/17/08

    Current Exchange Rates as of 5/03/13
    American Dollar to Canadian Dollar = 0.989105
    American Dollar to Chinese Yuan = 0.162333
    American Dollar to Euro = 1.311364
    American Dollar to Japanese Yen = 0.010192
    American Dollar to Mexican Peso = 0.082153

  • Brent Advances a Second Day Before U.S. Employment Data

    Miscellaneous News, |

    5/3/2013 12:00:00 AM

    Brent crude rose for a second day, extending its biggest rally in six months, before a report that may show U.S. employers hired more staff in April.

    Brent futures climbed as much as 0.8 percent, reversing an earlier decline of the same magnitude. U.S. payrolls increased by 140,000 workers following a gain of 88,000 in March, according to the median estimate in a Bloomberg survey of 90 economists. The jobless rate stayed at 7.6 percent, matching the lowest since December 2008, the survey showed.

    “The market for crude is not over-supplied,” said Guy Wolf, global head of market analytics at Marex Spectron Group in London. “There would have to be a larger deterioration in the economic outlook” to trigger “significant” losses, he said.

    Brent for June settlement advanced as much as 83 cents to $103.68 a barrel on the London-based ICE Futures Europe exchange, and traded for $103.48 as of 12:02 p.m. local time. It added $2.90 to $102.85 yesterday. The European benchmark was at a premium of $8.92 to West Texas Intermediate.

  • Berry Plastics Group, Inc. Reports Second Quarter 2013 Results

    Packaging News, |

    5/3/2013 12:00:00 AM
    Berry Plastics Group, Inc. today reported results for its fiscal second quarter 2013 referred to in the following as the March 2013 quarter:
     ?Achieved a record for any second fiscal quarter with a March 2013 quarter Adjusted EBITDA of $202 million and LTM Adjusted EBITDA of $810 million with the leverage ratio (net debt/Adjusted EBITDA) at 4.9x, a reduction of 1.0x from the March 2012 quarter
     ?Recorded Adjusted net income per share of $0.28 for the March 2013 quarter compared to $0.16 in the March 2012 quarter
     ?Increased LTM Adjusted free cash flow to $283 million
  • Timeless Communications acquires Symphony Publishing titles

    End User News, |

    5/3/2013 12:00:00 AM

    Timeless Communications Corp., which publishes b-to-b brands Projection Lights & Staging News, Stage Directions and Front of House, has purchased the assets of Needham, Mass.-based Symphony Publishing, a subsidiary of Cleveland-based Zapis Capital Group. The newly acquired titles are Musical Merchandise Review, serving the musical instrument industry, and three brands for music educators, School Band & Orchestra, JAZZed and Choral Director.

    TCC will redesign the new titles within the next 12 months, the company said in a statement. The new magazines will be referred to as the Musical Instrument and Education Division of Timeless Communications Corp., and the production and business office of the magazine will be transferred to Las Vegas.

    Administrative and production positions will be eliminated with the closure of Symphony's Needham, Mass., office, but the editorial and sales staff for the acquired titles will continue with the new company. A new salesperson and editorial director will be added to the team.

  • Catalyst Paper Specialty Price Increase - SC - July 1, 2013 USA

    Producer News, |

    5/3/2013 12:00:00 AM

    Please be advised that, effective July 1, 2013, US pricing on shipments from Catalyst Paper (USA) Inc. will increase as noted for the following grades:

    Grade(s)                                           $US Price
    Electracal; Electraprime               $2.50/cwt ($50.00/short ton)

    Increase applies to all brightness, finishes, and basis weights.

  • West Linn Paper - Price Announcement

    Producer News, |

    5/3/2013 12:00:00 AM

    West Linn Paper Company is increasing prices $1.50 per cwt. effective on all orders placed on or after June 1, 2013, regardless of the ship date as well as any orders shipping on or after July 1, 2013, regardless of the order date.

    This pricing change includes all of the following grades:  Sonoma®;  Capistrano®;  Nature Web®;  Nature Plus®

    This price increase applies to all basis weights and finishes plus all related private label grades, C1S grades and associated brand extensions.

  • Catalyst Paper 2012 Annual & Sustainability Reports

    Producer News, |

    5/3/2013 12:00:00 AM

    We are pleased to provide you with the link for the Catalyst Paper’s tenth sustainability report for the 2012 calendar year. It tells the story of a truly remarkable year in which we rapidly completed a large financial restructuring and significantly strengthened our competitive position.

    As the report describes, these results are the accomplishments of a dedicated workforce and talented senior management team. The loyalty of you, the customer, was equally important, as was the constructive engagement of creditors, unions, retirees, operating communities, vendors and governments. Each of these stakeholders contributed in a vital way to the solution we ultimately reached.

    Our operating philosophy and values continued to serve us well under these challenging circumstances. They are reflected in the range of financial and non-financial achievements and in our transparency regarding where we fell short of expectations.

    Below is the link for the 2012 Catalyst Paper Annual Report.  This year both reports have been printed on our coated three product – called Ascent – and the newest addition to our broad product suite. As the highest-value paper we now produce, Ascent is an example of our unrelenting innovation and product development efforts. Our new ultra-light weight newsprint product – Marathon Lite – is another. Both reflect our commitment to sustainability, our capabilities as a manufacturer, and our belief that the products we make continue to have an important place in today’s digital world.

  • Boise Inc. Reports Financial Results for First Quarter 2013 and announces an investment at DeRidder and changes at International Falls

    Producer News, |

    5/3/2013 12:00:00 AM

    Boise Inc. today reported a net loss of $(1.2) million, or $(0.01) per diluted share, for first quarter 2013, compared with net income of $21.3 million, or $0.21 per diluted share, for the same period in 2012. EBITDA(1) was $56.2 million for first quarter 2013, compared with $87.4 million for first quarter 2012. The pre-tax maintenance cold outage costs at our mill in DeRidder, Louisiana, which occur once every five years, reduced our first quarter results by $22.4 million. In addition, incremental depreciation expense related to shortening the useful lives of some of our assets, primarily at our mill in International Falls, Minnesota, reduced our results by $5.3 million.

    "We completed the DeRidder outage safely and on budget. Nevertheless, our first quarter results fell short of our expectations," said Alexander Toeldte, president and chief executive officer. “We experienced unfavorable mix changes in our Packaging segment that partially offset the benefits of the fall 2012 linerboard price increase. In addition, decreasing prices for uncoated freesheet negatively affected our results in Paper.”

    “In pursuit of our long-term strategic objectives, we are pleased to announce our decision to invest between $110 and $120 million in the conversion of our idled newsprint machine at DeRidder to produce lightweight linerboard and corrugating medium. We will also install an OCC pulping facility at the mill as part of the project. The investment adds approximately 270,000 tons of lightweight containerboard capacity to our system and allows us to optimize the product mix on our current linerboard machine, increasing the mill's overall containerboard output by approximately 300,000 tons. We are targeting a mid-2014 start-up for the completed project, which we expect will create about 50 jobs.”

    “To improve the cost competitiveness of our Paper business, where we operate against the background of secularly declining demand for our products, we have made the difficult decision to close two paper machines and an off-machine coater at our International Falls mill. These closures, which we expect to occur no later than fourth quarter 2013, will reduce our annual uncoated freesheet capacity by approximately 115,000 tons, or 9%, and allow us to focus our efforts on key products and machines that drive our profitability, improve our cash flow, and enhance the overall competitiveness of our International Falls mill and our Paper business. This decision will result in the loss of approximately 300 jobs. We understand the impact this decision has on our dedicated employees, as well as the community of International Falls. We appreciate their efforts and support over the years.”

  • Sappi Announces Web Price Increase

    Producer News, |

    5/3/2013 12:00:00 AM

    Sappi Fine Paper North America announces a price increase on new and unconfirmed orders that book with confirmed delivery dates on or after Monday, July 1, 2013 on the following products:

    A $1.50 per CWT US$/CAD$ increase on:
    • Opus Web – all finishes, all basis weights
    • Somerset Web – all finishes, all basis weights
    • Flo Web – all finishes, all basis weights
    • Galerie Fine Web – all finishes, all basis weights
     
    A $2.00 per CWT US$/CAD$ increase on:
    • Galerie Lite Web – all basis weights
    • Galerie Brite Web – all basis weights
     
    Standard differentials and upcharges apply. This price increase includes all private label programs.

  • Sappi Announces Sheet Price Increase

    Producer News, |

    5/3/2013 12:00:00 AM

    Sappi Fine Paper North America announces a price increase on new and unconfirmed orders that book with confirmed delivery dates on or after Monday, July 1, 2013 on the following products:

    A $1.00 per CWT US$/CAD$ increase on:
    • Flo Sheet Mill Direct Orders – all finishes, all basis weights
    • HannoArt – all finishes, all basis weights
    • Euro Art Plus – all finishes, all basis weights
     
    A $1.50 per CWT US$/CAD$ increase on:
    • Flo Sheet RDC Orders – all finishes, all basis weights
     
    Standard differentials and upcharges apply. This price increase includes all private label programs.

  • Verso Announces Price Increase

    Producer News, |

    5/3/2013 12:00:00 AM

    Effective with all orders shipping on or after July 1, 2013, Verso Paper Corp. is increasing the transaction price of the following Coated Groundwood grades:

    Advocate® Plus; Advocate®; Advocate® EHB; Advocate® Roto - $2.00/cwt ($40/short ton).  All grades, basis weights, bulks and finishes.

  • Kruger Price Announcement - Coated Papers

    Producer News, |

    5/3/2013 12:00:00 AM

    Please be advised that Kruger will increase the transaction price on all coated paper grades by $2.00 per cwt.

    This will be effective with shipments on, or after July 1, 2013, and will apply to all weights and brightness levels.

  • RR Donnelley Awarded Multi-Year Multi-Million Dollar Agreement to Provide Direct Marketing Services to AmeriMark Direct and Dr Leonard's Healthcare Corp.

    Printer News, |

    5/2/2013 12:00:00 AM

    R. R. Donnelley & Sons Company today announced that it has been awarded a multi-year multi-million dollar agreement to provide catalog services to AmeriMark Direct and its Dr Leonard's Healthcare Corp. business. The agreement extends and significantly expands the companies' relationship.

    Under the terms of the agreement, RR Donnelley will provide a comprehensive array of catalog production, co-binding, co-mailing and logistics services. Multiple RR Donnelley facilities will coordinate to deliver gravure and offset production resources as well as complex logistics capabilities that help to minimize postage costs.

    AmeriMark Direct is a leading direct marketer of women's apparel, shoes, name-brand cosmetics, fragrances, jewelry, watches, accessories, and health-related merchandise. AmeriMark sells its merchandise through eight distinctive catalogs: Anthony Richards, Beauty Boutique, Complements by Anthony Richards, Essentials by Anthony Richards, Healthy Living, Time for Me, FeelGood Store, and Windsor Collection. Dr Leonard's Healthcare Corp. is a leading direct mail marketer of affordable health and personal care products to a vast customer base. It features the Dr. Leonard's Healthcare and Carol Wright catalogs.

  • Quad Invests in Pixability to Tackle Online Video Market

    Printer News, |

    5/2/2013 12:00:00 AM
    Quad/Graphics, Inc., a leading global printer and media channel integrator, has purchased a minority interest in Pixability, a YouTube-certified marketing and advertising company that works with brands, e-commerce firms and agencies to improve video marketing results. Leading brand marketers and publishers will have access to a powerful solution that allows them to easily and effectively incorporate online video with any of their marketing channels to engage prospects and customers -- from awareness to action through to customer support.
     
    "Online video is the fastest growing marketing channel in the world today, and Pixability's proven approach to YouTube marketing and advertising fits well with our media solutions video offering, which includes strategy, concepting, creating, producing and delivering online video for leading brands," said Joel Quadracci, Quad/Graphics Chairman, President & CEO. "Like Quad/Graphics, Pixability understands the importance of getting the right message in front of the right audience to trigger the right action. Together, we offer a robust, single-source solution that creates, optimizes and connects content across multiple channels in a way that provides the greatest return on marketing spend."
     
    The investment further strengthens Quad/Graphics' integrated solutions for multichannel marketers and publishers by adding strategic expertise for a rapidly growing and effective media channel. With the funding, Pixability will continue to expand its proven, cloud-based video analytics and YouTube marketing software platform.
  • Arandell Corporation Launches Best-In-Class Digital Solutions for Catalogers

    Printer News, |

    5/2/2013 12:00:00 AM
    Arandell Corporation, the premier catalog printer, mailer, and distributor in the United States, announced today a partnership with San Francisco Bay Area digital agency Synapse Group to empower catalogers to deliver personalized digital catalogs and shopping solutions across tablet, mobile, social and web channels.
     
    Arandell is already known as the country’s premier marketing partner for catalog and retail direct mailers. Arandell provides high-quality printing, mailing, distribution, list management, database marketing, mobile solutions, logistics and consulting services to its clients in the retail and direct mail catalog markets. Arandell also offer an extensive range of services to assist their customers through the dynamic world of multi-channel marketing.
     
    “We are extremely excited about our new partnership with Synapse Group and the benefits their dynamic, multi-channel SyndecaTM Platform solution can offer our clients,” stated Don Treis, Arandell CEO. “The print catalog is the primary driver to other buying channels and has become the foundation for an interactive consumer experience. Our customers are seeing huge increases in their mobile and tablet traffic and statistics show that within a few years this traffic will surpass traffic from more traditional desktop computers and PCs. The Syndeca platform enables our customers to deliver responsive, HTML5 catalogs and circulars that are accessible across all devices. Not only are we able to deliver the best solutions on the market, but we are also bringing this technology to market in an easy and affordable way.”
  • International Paper Reports First-Quarter 2013 Earnings

    Producer News, |

    5/2/2013 12:00:00 AM

    International Paper today reported first quarter 2013 net earnings attributable to common shareholders totaling $318 million ($0.71 per share), compared with net earnings of $235 million ($0.53 per share) in the fourth quarter of 2012 and $188 million ($0.43 per share) in the first quarter of 2012. Amounts in all periods include the impact of special items, non-operating pension expense and discontinued operations.

    Operating Earnings were $292 million ($0.65 per share) in the first quarter of 2013, compared with $305 million ($0.69 per share) in the fourth quarter of 2012 and $272 million ($0.63 per share) in the first quarter of 2012.

    Quarterly net sales were $7.1 billion compared with $7.1 billion in the fourth quarter of 2012 and $6.7 billion in the first quarter of 2012.

  • Canfor Reports Results for First Quarter of 2012

    Producer News, |

    5/2/2013 12:00:00 AM

    Canfor Corporation today reported net income attributable to shareholders of $61.9 million, or $0.43 per share, for the first quarter of 2013, compared to $21.31 million, or $0.151 per share, for the fourth quarter of 2012 and a shareholder net loss of $18.01 million, or $0.131 per share, for the first quarter of 2012.

    The shareholder net income for the first quarter of 2013 included various items affecting comparability with prior periods as well as certain required IFRS accounting adjustments related to the Company’s 50% interest in Canfor-LP OSB Limited Partnership, which had an overall positive impact on the Company’s results of $8.4 million, or $0.06 per share. After adjusting for such items, the Company’s adjusted shareholder net income for the first quarter of 2013 was $70.3 million, up $50.0 million, or $0.35 per share, from an adjusted shareholder net income of $20.31 million, or $0.141 per share, for the fourth quarter of 2012, and an adjusted shareholder net loss of $24.11 million, or $0.181 per share, for the first quarter of 2012.

    The Company reported operating income of $100.0 million (adjusted $111.02 million) for the first quarter of 2013, more than double the $49.01 million recorded for the fourth quarter of 2012. Improved results reflected a strengthening U.S. housing market and improved operating performances at the Company’s lumber and pulp mills. Lumber sales realizations experienced strong gains during the quarter, with both Western Spruce/Pine/Fir (“SPF”) and Southern Yellow Pine (“SYP”) products appreciating to levels not seen in almost eight years. The previous quarter results included a one-time accounting gain related to the Company’s salaried post retirement benefit plans.

  • UPM Announces Price Increase

    Producer News, |

    5/2/2013 12:00:00 AM

    We are writing to inform you that UPM is increasing transaction prices of all No. 5 Coated Groundwood and Supercalendered (SC) grades beginning with all orders delivering on or after July 1, 2013, as follows:

    No. 5 Coated Groundwood products: $40 per short ton ($2.00 per cwt) for the following grade names in all basis weights and finishes: UPM Cote; UPM Cote Plus
    SCA products: $50 per short ton ($2.50 per cwt) for the following grade names in all basis weights: UPM Max; UPM Cat; UPM Smart
    SCB products: $60 per short ton ($3.00 per cwt) for the following grade names in all basis weights:  UPM Eco; Excluding UPM Eco Lite and Eco X products

  • NewPage Announces Price Increase

    Producer News, |

    5/2/2013 12:00:00 AM
    Effective with all new and existing orders with confirmed delivery dates of July 1, 2013 or later, NewPage is implementing the following price increase:
    Grade - Increase Amount
    Capri® web;  Consoweb® web - $2.00/cwt US$/CAD$
    Voyager® web; Superior Gloss® web - $2.50/cwt US$/CAD$
    This increase applies to all basis weights, finishes and related private label grades.
  • Courier Reports Second-Quarter Results

    Printer News, |

    5/2/2013 12:00:00 AM

    Courier Corporation, one of America’s leading innovators in book manufacturing, publishing and content management, today announced results for the quarter ended March 30, 2013, the second quarter of its 2013 fiscal year. Revenues were $61.8 million, slightly below last year’s second-quarter revenues of $62.4 million. Net income for the quarter was $336,000 or $.03 per diluted share, versus $440,000 or $.04 per diluted share in last year’s second quarter.

    For the first six months of fiscal 2013, Courier revenues were $126.5 million, up from $125.3 million in fiscal 2012. Net income for the year to date was $2.8 million or $.24 per diluted share, versus $1.9 million or $.16 per diluted share for the first half of last year, which included first-quarter charges related to severance and post-retirement benefits and a gain from asset sales; excluding those items, net income for the first half of fiscal 2012 was $2.5 million or $.21 per diluted share. Details can be found in the tables at the end of this release.

    The second quarter of Courier’s fiscal year is usually its slowest, coming in between the traditional busy seasons in the education market. In the company’s book manufacturing segment, second-quarter sales were up from a year ago overall, led by increased sales in the specialty trade market. Sales were flat in the religious market and down in the education market, where the number of textbook orders was up, but print quantities were lower. For the year to date, education and religious sales were up, but trade sales marginally lower. In Courier’s publishing segment, sales were down slightly for both the quarter and the year to date.

  • Crude Falls as U.S. Supplies Climb to 82-Year High

    Miscellaneous News, |

    5/2/2013 12:00:00 AM

    West Texas Intermediate crude tumbled as U.S. oil inventories reached an 82-year high amid signs of economic slowdown in the U.S. and China.

    Futures fell the most in two weeks after the Energy Information Administration said stockpiles jumped to 395.3 million barrels in the week ended April 26, the most in weekly data started in 1982. According to monthly data, they were last at this level in 1931. U.S. companies added fewer workers than forecast in April and China’s manufacturing grew at a weaker pace, separate reports showed.

    “WTI, in our view, is prone to some downward pressure,” said Michael Wittner, the head of oil-market research at Societe Generale SA in New York. “The U.S. is very comfortably supplied. The macroeconomic data flow continues to be weak.”

    WTI for June delivery retreated $2.43, or 2.6 percent, to settle at $91.03 a barrel on the New York Mercantile Exchange, falling the most since April 15. The volume of all futures traded was 45 percent above the 100-day average for the time of day at 2:33 p.m.

    Brent for June settlement slid $2.42, or 2.4 percent, to $99.95 a barrel on the London-based ICE Futures Europe exchange.

  • New Science Magazine Shakes Up Publishing Model

    End User News, |

    5/2/2013 12:00:00 AM

    Nautilus, a new science, philosophy and culture fusion publication that launched this week, is breaking all of the traditional publishing rules around content, distribution and sales.
     
    “Every month we’ll take a single science topic and explore it from multiple disciplines, both within and outside of the sciences,” says John Steele, publisher of Nautilus. “Our first one is human uniqueness, so we’re exploring it from different scientific disciplines, as well as from the point of view of philosophy, psychology, sociology and theology.”

    In addition to exploring a single monthly topic through multiple disciplines, the new brand is exploring multiple content formats, including long-form essays, shorter articles, interviews, interactive data pieces and fiction stories—all with the idea of providing a variety of access points into that topic.
     
    Steele says the magazine will be rolled out in print on a quarterly basis beginning in September with an initial run of 5,000. In the meantime, every month a new topic area will be introduced online, with a new topic “chapter” uploaded every Thursday—a chapter takes a deeper dive into the month’s topic, exploring it through the multidisciplinary eye of humanities.

    With the launch, the full issue is available on the magazine’s website, Nautil.us, instead of being rolled out slowly every Thursday. The publisher is also working to expand the brand’s presence, making it available on as many channels as possible.
     
    “The idea is to make it available everywhere—we’re in the process of getting approved at the iTunes store, and we’ll try to sell articles with Amazon Kindle Singles to try and spread the content as far and wide as we can,” he says.

  • CVS Caremark Reports Strong First Quarter Results

    End User News, |

    5/1/2013 12:00:00 AM

    CVS Caremark Corporation today announced operating results for the three months ended March 31, 2013.

    First Quarter Year-over-year Highlights:
    •Operating profit increased 21.0% to $1.7 billion
    •Adjusted EPS increased 28.1% to $0.83; GAAP diluted EPS from continuing operations increased 29.9% to $0.77
    •Retail pharmacy same store prescription volumes increased 2.0%; 4.7% on a 30-day equivalent basis
    •Retail pharmacy same store sales declined 2.3% due to new generic introductions; front store same store sales increased 1.4%
    •Generated free cash flow of $1.3 billion; cash flow from operations of $1.6 billion

  • Glatfelter Reports First Quarter 2013 Earnings

    Producer News, |

    5/1/2013 12:00:00 AM

    Glatfelter today reported first quarter 2013 net income of $15.6 million, or $0.36 per diluted share, and adjusted earnings of $17.4 million, or $0.40 per diluted share.  These results compare with first quarter 2012 net income and adjusted earnings of $18.9 million, or $0.43 per diluted share.
      
    Consolidated net sales for the first quarter of 2013 totaled $405.2 million, a 2.0 percent increase compared with $397.4 million in the first quarter of 2012. 
     
    “We had a solid start to 2013 with our Composite Fibers business improving dramatically from the weakness experienced during the fourth quarter, and our Advanced Airlaid Materials business generating a 7 percent increase in revenue compared to the year ago quarter,” said Dante C. Parrini, chairman and chief executive officer.  “This led to improved operating profit for these businesses totaling 9 percent in the year over year comparison and allowed us to generate results that were generally in-line with our expectations.   As expected, operating profit from Specialty Papers declined due to lower selling prices and operating cost inflation.  In addition, our results benefited from a favorable tax rate.”

    Mr. Parrini continued, “I believe the growth we have generated in our Composite Fibers and Advanced Airlaid Materials businesses is sustainable and that we can continue to build on our market success.  I also believe our Specialty Papers business can continue to outperform the broader uncoated free sheet market.  This should allow us to generate improved earnings and solid cash flows in 2013.  I am also excited about the opportunity we have to accelerate our growth with the addition of Dresden Papier to our portfolio of growing fiber-based materials businesses.”

  • Time Warner Inc. Reports First-Quarter 2013 Results

    End User News, |

    5/1/2013 12:00:00 AM

    Time Warner Inc. today reported financial results for its first quarter ended March 31, 2013.

    Chairman and Chief Executive Officer Jeff Bewkes said: “We’re off to a strong start in 2013, making us even more confident in our full-year outlook. Our Adjusted Operating Income in the first quarter increased 7% to $1.4 billion, up 10% excluding Publishing, and Adjusted EPS climbed 22%. These results reflect the ongoing strength of our content, particularly in television. At Turner, the NCAA Division I Men’s Basketball tournament was the most watched March Madness in almost two decades. And we’re seeing good momentum across most of Turner’s networks, including TBS, which was the #1 ad-supported cable network in primetime across adults 18-34 and 18-49 during the quarter. At Warner Bros., we have had another very strong TV season, including having four of the top six comedies on TV and both of the breakout new dramas of this season, Revolution and The Following. And HBO continues to go from strength to strength, powered by hits like Game of Thrones, which is on track this season to become the most-watched series on HBO since The Sopranos.”

    Revenues of $6.9 billion were essentially flat compared to the year-ago quarter, as growth at the Networks segment was offset by declines at the Film and TV Entertainment and Publishing segments. Adjusted Operating Income grew 7% to $1.4 billion due to increases at the Networks and Film and TV Entertainment segments, offset in part by declines at the Publishing segment. Adjusted Operating Income margins were 21% and 19% in the first quarter of 2013 and 2012, respectively. Operating Income increased 13% to $1.4 billion, while Operating Income margin was 20% compared to 18% in the prior year quarter.

  • Sealed Air Reports First Quarter 2013 Results

    Packaging News, |

    5/1/2013 12:00:00 AM

    Sealed Air Corporation today announced financial results for first quarter 2013. Net sales for the first quarter 2013 totaled $1.9 billion. Adjusted EPS was $0.17 for the first quarter and Adjusted EBITDA was $227 million, or 12.2% of net sales. Excluding $15 million (net of taxes) of expense resulting from cash-settled Stock Appreciation Rights granted as part of the Diversey acquisition (“SARs”) Adjusted EPS was $0.24 and Adjusted EBITDA was $245 million, or 13.2% of net sales. Additional detail on SARs is provided in our supplemental information. On a reported basis, net income was $2.7 million, or $0.01 per share.

    First quarter net sales increased 0.4% with 1.0% higher volumes and 0.2% price/mix partially offset by 0.8% of unfavorable currency translation. Reported regional net sales increased 7.1% for AMAT (Asia, Middle East, Africa and Turkey), 5.4% for Latin America, and 0.2% for North America, partially offset by 2.1% lower net sales in Europe and 2.3% in JANZ (Japan/Australia/New Zealand). Additionally, first quarter net sales to Developing Regions1 increased 9.0% on a constant dollar basis over 2012 and accounted for 23.6% of global net sales.

    Adjusted EBITDA for the first quarter of $227 million was essentially flat compared with 2012, primarily driven by volume growth, offset by inflationary costs, unfavorable price and customer mix, as well as higher SARs expense. Excluding SARs expense, first quarter Adjusted EBITDA was $245 million, or 13.2% of net sales, compared to $240 million, or 13.0% of net sales, in 2012. Incremental cost synergies under the 2011-2014 Integration and Optimization Program were $29 million for the first quarter of 2013 and resulted from headcount reductions, elimination of redundant costs, plant consolidations and procurement and logistics savings. Reported operating profit was $130 million for first quarter 2013 compared with $83 million in 2012.

  • Domtar's Lignin Separation Plant Onstream at Plymouth, NC Mill

    Producer News, |

    5/1/2013 12:00:00 AM

    Metso announced that Domtar has successfully started up a commercial-scale LignoBoost™ lignin separation plant at its Plymouth, North Carolina mill, in the USA. This is the first commercial installation of a LignoBoost plant in the world and the technology is supplied by Metso.

    The LignoBoost plant is integrated with the pulp mill and separates and collects lignin from the pulping liquor. Besides using lignin as a bio-based alternative to fossil fuel, separation of a portion of the mill’s total lignin production also off-loads the recovery boiler and allows an increase in pulp production capacity, Metso noted.

    Domtar’s production of BioChoiceTM lignin began in February with a targeted rate of 75 tons a day. A wide range of applications and markets for BioChoice lignin are being developed including fuels, resins, and thermoplastics, Metso said.

  • Monadnock Offers No-Compromise Beer Label

    Packaging News, |

    5/1/2013 12:00:00 AM
    Monadnock Paper Mills, Inc., manufacturer of technical/specialty and premium printing and packaging papers, recently announced the availability of an uncoated product designed specifically for craft beers. Monadnock Envi® Label is made from 100 percent FSC-certified, post-consumer waste fibers and withstands the rigors of challenging print images, bottling lines and cold, wet coolers.
     
    "For an uncoated, textured feel, there was always a trade-off,” said Tim Boyd, market segment manager of Monadnock Paper Mills. “If you wanted a label to stand up to submersion and not peel, disintegrate or fall off, you had to sacrifice by using mostly virgin pulp. Conversely, if you wanted to be eco-conscious, there was always a compromise in how that material would stand up in the print process or in the cooler. Now, you can have the best of both worlds."
     
    Made in New England, home to many iconic craft brews, Envi Label offers American brewers a home-grown source for label stock that upholds brewers’ commitments to quality and sustainability with no compromises in performance or aesthetics.
     
    "Monadnock’s Envi Label is unique because it’s the only product that meets our brewery's commitments to innovative packaging as well as environmental sustainability,” said Jordan Bamforth, creative director at Beau’s All Natural Brewing Company. “It works well on our packaging line and gives us a green alternative to a standard C1S beer label."
  • Fortress Paper Completes Sale of the Dresden Mill

    Producer News, |

    5/1/2013 12:00:00 AM

    Fortress Paper Ltd. is pleased to announce that it has successfully completed the sale of the Dresden Mill to Glatfelter Gernsbach GmbH & Co. KG, a subsidiary of P.H. Glatfelter Co., previously announced on March 13, 2013. The purchase price for the sale was €160 million (approximately CDN$212 million), subject to a post-closing working capital adjustment.

    With the sale of the Dresden Mill, Fortress Paper no longer operates in the specialty papers (wallpaper base) industry.

  • AIM Acquires Snowsports Properties from Bonnier

    End User News, |

    5/1/2013 12:00:00 AM

    Active Interest Media is reacquiring a group of snowsports titles it held more than a decade ago.

    The enthusiast publisher has reached an agreement to purchase the properties of the Bonnier Mountain Group, a division of Bonnier Corp., for an undisclosed sum, the companies have announced.
     
    Included in the deal are the titles Ski, Skiing and Skiing Business, along with action sports filmmaking group Warren Miller Entertainment and public ski governing body NASTAR. AIM says the additions will "effectively double the size" of its Outdoor Group.
     
    Ski, the largest title coming to AIM, had a circulation of 456,945 in 2012, per the Alliance for Audited Media. Circ had dipped about 2 percent from when Bonnier purchased it in 2007. Meanwhile, ad pages have dropped precipitously from 674.98 to 275.26 over that time period, according to the Publishers Information Bureau, including a 34.8-percent loss in the first quarter of 2013.

  • Brent Crude Declines a Second Day as Global Supplies Increase

    Miscellaneous News, |

    5/1/2013 12:00:00 AM

    Brent crude fell for a second day after OPEC’s production increased to a five-month high and an industry group said U.S. stockpiles climbed for the first time in three weeks.

    Futures slid as much as 1.7 percent in London after dropping 1.4 percent yesterday. U.S. crude inventories rose by 5.2 million barrels last week, the American Petroleum Institute said. Government figures today are projected to show a gain of 1.1 million barrels, according to a Bloomberg News survey. Daily output by the Organization of Petroleum Exporting Countries increased in April by 194,000 barrels a day, a separate survey indicated. An index of manufacturing in China signaled weaker expansion in April.

    With inventories at the levels they are at, it is a question of how much demand there is, and there is growing evidence of a slowdown in economic activity with even China weaker than expected,” Michael Hewson, a market analyst at CMC Markets Plc in London, said today by telephone. “The direction of travel on oil is down and I see no reason to change that view unless OPEC cuts production.”

    Brent for June settlement slid as much as $1.70 to $100.67 a barrel on the London-based ICE Futures Europe exchange, the lowest intra-day level in a week, and was at $100.83 at 11:36 a.m. local time.

  • Courier Acquires FastPencil

    Printer News, |

    5/1/2013 12:00:00 AM

    Courier Corporation, one of America’s leading innovators in book manufacturing and content management, today announced that it has acquired FastPencil, Inc., a developer of end-to-end, cloud-based content management technology. A startup headquartered in Campbell, California, FastPencil serves authors and publishers with full-featured, open-platform solutions spanning content, workflow, marketing and distribution. It also provides simple automated systems to help self-publishers get to market quickly and effectively in both print and e-book form, including the technology behind Barnes & Noble’s new NOOK Press™, introduced earlier this month.

    With its FastPencil acquisition, Courier builds on its leadership in content management and customization for educational publishers while bringing a comparable offering to a broader market. Since 2010, the combination of proprietary software and state-of-the-art digital printing technology has made Courier Digital Solutions a nationwide leader in the production of textbooks customized to the specific needs of individual professors, courses and institutions. The FastPencil platform brings a similar degree of flexibility and control to general trade publishers, established authors, and the rapidly expanding universe of self-publishers. At the time of its acquisition by Courier, FastPencil had relationships with more than 60,000 self-publishing content creators involving over 50,000 active projects.

  • Buckeye's Third Quarter FY 2013 Results

    Producer News, |

    5/1/2013 12:00:00 AM

    Buckeye Technologies Inc. today announced third quarter net sales of $195.5 million and adjusted net income* of $21.0 million. Adjusted EPS* of $0.53 for the third fiscal quarter of 2013 compares with $0.67 in the third fiscal quarter of 2012 and $0.60 in the second quarter of the 2013 fiscal year. EPS in the second fiscal quarter of 2013 benefited by $0.11 from the final net insurance settlement from the June 2012 steam drum failure at Foley.

    Net sales for the quarter were down $21.5 million, or 10%, compared to the year ago quarter. Shipment volume was down 3% with nonwovens volume up 11% and specialty fibers volume off 4%. The Company continued to experience weak demand in some of our high-end specialty fiber markets, particularly from the European tire cord market. Selling prices were down year over year in the fluff pulp market. Cotton specialty fibers selling prices were also lower as we passed through reductions in raw cotton linter costs to our customers. Product mix was unfavorable, as we shipped about 5,500 tons this quarter into the commodity viscose staple fiber market.

    Adjusted operating income* of $31.4 million for the third fiscal quarter of 2013 was down $10.5 million compared to the year ago quarter, due to lower volume, selling prices and unfavorable product mix in our specialty fibers segment. Nonwovens operating income improved by $2.8 million, an increase of 92%, compared to the year-ago quarter due to increased sales and increased capacity utilization.

  • RR Donnelley Awarded Multi-Year Multi-Million Dollar Agreement by Northern Tool + Equipment Co. and The Sportsman's Guide

    Printer News, |

    5/1/2013 12:00:00 AM

    R. R. Donnelley & Sons Company today announced that it has been awarded a multi-year multi-million dollar agreement that extends and expands its relationship with Northern Tool + Equipment, The Sportsman's Guide and The Golf Warehouse. Northern Tool + Equipment acquired both The Sportsman's Guide and The Golf Warehouse in December 2012. Under the terms of this agreement, RR Donnelley will provide a comprehensive range of catalog and direct response production services, retail inserts, co-binding, co-mailing, logistics services and more.

    "Our family run operation was founded on the objective of providing in-depth knowledge and exceptional service to our customers," said Chuck Albrecht, President of Northern Tool + Equipment. "RR Donnelley's range of capabilities allows us to bring these values to our customers and prospects through integrated messaging across a broad array of channels."

    Northern Tool + Equipment is a leading multi-channel retailer and supplier of high-quality tools and equipment. They provide a wide selection of products from consumer goods to industrial and construction equipment to do-it-yourselfers, contractors and professional shops worldwide. Northern Tool + Equipment sells its products through internet, mobile, and retail channels with more than 80 store locations in 17 states. The Sportsman's Guide specializes in outerwear, footwear and goods such as hunting equipment, military surplus, optics and tools. The Golf Warehouse is a retailer of golf equipment.

  • MOD-PAC CORP. Reports Revenue of $14.4 Million in the 2013 First Quarter

    Packaging News, |

    5/1/2013 12:00:00 AM
    MOD-PAC CORP., a high value-added, on-demand print services firm that designs and manufactures custom and stock folding cartons, today announced financial results for its first quarter of 2013 ended March 30, 2013.
     
    Revenue increased $0.6 million, or 4.5%, to $14.4 million in the first quarter from $13.8 million in the prior-year period on solid custom folding carton sales. The Company realized net income of $0.3 million, or $0.09 per diluted share, for the first quarter of 2013, an improvement from a net loss of $0.1 million, or $0.04 per diluted share, in the 2012 first quarter, reflecting leverage on higher sales and continued cost control.
     
    Daniel G. Keane, President and CEO, commented, "We realized measurable growth in our core business, custom folding cartons, by capturing additional market share from existing customers. We also achieved margin expansion and an improved bottom-line as a result of our efforts to improve the leverage within the business."
  • Bonnier Sells Ski and Skiing, Magazines Bought as Part of 'Time 18'

    End User News, |

    5/1/2013 12:00:00 AM

    Bonnier Corp., the publisher of magazines such as Field & Stream and Bonnier, has struck a deal to sell Ski and Skiing magazines to Active Interest Media, the companies confirmed today.

    The magazines' print business has diminished since Bonnier bought them from Time Inc. in 2007 as part of a $225 million deal for 18 enthusiast magazines.
     
    Ad pages fell 33.7% at Ski magazine last year, a steeper drop than the 8.2% decline across magazines as a whole, according to the Publishers Information Bureau. Circulation has held roughly steady, averaging 456,945 in the second half of last year, but benefited along the way by absorbing subscribers to Skiing as that title cut back in print.
     
    Skiing averaged paid circulation north of 400,000 when Time Inc. sold it but now distributes 50,000 copies per issue, according to the press kit on Bonnier's website.
     
    The deal, terms of which were not disclosed, also includes the rest of the company's Mountain Group in Boulder, Colo.; Warren Miller Entertainment; Skiing Business and Nastar, a recreational ski and snowboard racing program.

  • Avery Dennison Introduces Multiple RFID Solutions for Retailers and Brands

    Packaging News, |

    5/1/2013 12:00:00 AM

    Avery Dennison Retail Branding and Information Solutions (RBIS), the world’s largest and leading provider for UHF radio frequency identification (RFID ) solutions, announced today a newly expanded RFID portfolio which creates high performance, cost efficient solutions for targeted product categories (fragrances, jewelry, cosmetics, accessories, housewares) and improved durability, flexibility, speed, and graphic capabilities for all categories including apparel and footwear.

    Avery Dennison has worked with industry-leading partners including NXP, Impinj, and EM Marin to deliver the most versatile and high-performance RFID solutions available on the market today, addressing applications that have traditionally been hard to serve, and dramatically enhancing the creative options for RFID graphic tag designers to meet the demands of the global marketplace.

    Avery Dennison makes RFID Tagging on Metals and Liquids Easy: Many retailers struggle with the challenge of RFID tagging products containing metal or liquid, such as housewares, cosmetics, lotions, fragrances, and other items using metal foil in the packaging. Retailers have wanted to achieve the inventory accuracy and loss prevention benefits of RFID for these items, but these materials/surfaces interfere with the radio frequencies the RFID reader and tag use to communicate. However, Avery Dennison has made RFID tagging these notoriously difficult products easy with the patent-pending AD-451m5 label that uses the Impinj Monza® 5 IC RFID.

  • The New York Times Announces Solid Circulation Gains

    End User News, |

    5/1/2013 12:00:00 AM

    For the six-month period ending March 31, 2013, The New York Times saw strong circulation growth according to the just released Alliance for Audited Media (AAM) report. Total average circulation, which includes total print and total digital, was 1,865,318 for Monday–Friday and 2,322,429 for Sunday.

    The gains in total average circulation over the same period one year ago were 18% for Monday-Friday and 16% for Sunday. As with the last reporting period, these gains can largely be attributed to the continuing popularity of The Times’s digital subscription packages.

    For this most recent AAM reporting period, total average digital circulation for Monday-Friday was 1,097,467 (up 41% over one year ago) and for Sunday, it was 1,065,940 (up 45%). This category of circulation includes all paid and verified digital subscription copies as well as paid subscriptions to replica editions and e-readers including Amazon’s Kindle and the Barnes & Noble NOOK.

    For the six-month period ending March 31, 2013, total average print circulation for The New York Times for Monday-Friday was 731,395 and total average print circulation for Sunday was 1,254,506. These figures represent declines; -6.2% for Monday-Friday and -0.9% on Sunday, when compared to the same period last year.

  • Martha Stewart Living Omnimedia Reports First Quarter 2013 Results

    End User News, |

    4/30/2013 12:00:00 AM

    Martha Stewart Living Omnimedia, Inc. today announced its results for the first quarter ended March 31, 2013. The Company reported revenue for the first quarter of $37.2 million.

    Total revenues were $37.2 million in the first quarter of 2013, compared to $49.8 million in the first quarter of 2012.  Approximately $9 million of the revenue decline reflects the restructuring initiatives undertaken in our media business last year.

    Total operating loss for the first quarter of 2013 was $(3.0) million, compared with a loss of $(4.2) million in the prior-year period. The first quarter of 2013 included a net gain on the sale of a subscriber list of $2.7 million.

    Adjusted EBITDA was a loss of $(1.0) million for the first quarter of 2013, compared to a loss of $(1.8) million in the prior year period.

  • McGraw Hill Financial Reports 1st Quarter Results

    End User News, |

    4/30/2013 12:00:00 AM

    The McGraw-Hill Companies today reported first quarter 2013 results. Because of the sale of McGraw-Hill Education, this business was classified as a discontinued operation beginning in 4Q 2012 and its results are excluded from continuing operations.

    The Company reported first quarter 2013 revenue of $1,181 million, an increase of 14% compared to the same period last year.  Net income and diluted earnings per share from continuing operations were $153 million and $0.54, respectively. 

    Excluding the impact of one-time costs related to the separation of McGraw-Hill Education and legal settlements, adjusted net income from continuing operations increased 29% to $228 million, and adjusted diluted earnings per share from continuing operations increased 29% to $0.80. 

    "The Company is off to a strong start with the revenue and earnings growth we delivered in the first quarter," said Harold McGraw III, chairman, president, and chief executive officer of McGraw Hill Financial.  He continued, "McGraw Hill Financial is focused on providing clients with the essential intelligence they need to make better informed decisions.  Our mission is to be the foremost provider of ratings, benchmarks, and analytics in the global capital and commodity markets.  Our long-term growth prospects are excellent because of the outstanding people, culture and capabilities of this Company—and the powerful enduring trends in our markets."

  • MWV Reports First Quarter Results

    Producer News, |

    4/30/2013 12:00:00 AM

    MeadWestvaco Corporation, a global leader in packaging and packaging solutions, reported a 2 percent sales increase for the first quarter of 2013 (3.6 percent on a constant currency basis), primarily reflecting higher volumes in targeted markets for food, tobacco, industrial, personal care and healthcare packaging, as well as increased volumes of higher value specialty chemical solutions. The company’s sales also benefited from the additions of the recently acquired corrugated business in India (Ruby Macons) and the pine chemicals business in Brazil (Resitec).

    Income from continuing operations attributable to the company of $11 million, or $0.06 per share ($29 million, or $0.16 per share ex-items), declined compared to the previous year. Colder weather in key regions as compared to last year negatively impacted first quarter sales volumes of beverage packaging, home and garden packaging, and asphalt paving chemicals. In addition, lower consumer confidence and spending in Europe continued to impact sales volumes of beauty and personal care folding carton packaging. Industrial packaging results in Brazil were above the company’s expectations, but declined versus the previous year primarily due to inflation and unfavorable foreign currency impacts. The Food & Beverage and Specialty Chemicals segments also experienced operational challenges related to planned outages in the quarter, which impacted the results in those segments. Sales and earnings in the Community Development and Land Management business increased modestly.

  • Tembec reports financial results for its second quarter ended March 30, 2013

    Producer News, |

    4/30/2013 12:00:00 AM

    Consolidated sales for the three-month period ended March 30, 2013, were $407 million, unchanged from the same quarter a year ago. The Company generated a net loss of $26 million or $0.26 per share in the March 2013 quarter compared to a net loss of $14 million or $0.14 per share in the March 2012 quarter. The financial results for the most recent quarter include a non-cash impairment charge of $22 million related to an asset held for sale. Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was $24 million for the three-month period ended March 30, 2013, as compared to adjusted EBITDA of $2 million a year ago and adjusted EBITDA of $19 million in the prior quarter.

    The Specialty Cellulose Pulp segment generated adjusted EBITDA of $14 million on sales of $120 million for the quarter ended March 30, 2013, compared to adjusted EBITDA of $18 million on sales of $103 million in the prior quarter. The $14 million increase in pulp sales was due to higher shipments of viscose grades. Demand for specialty grades was flat and US and euro prices were relatively unchanged quarter-over-quarter. However, with the Canadian dollar weakening by 1.8% versus the US dollar and 3.6% versus the euro, Canadian dollar equivalent pricing increased by $52 per tonne. The viscose grade market remains oversupplied and prices continued to decline in the March quarter.

    The Forest Products segment generated adjusted EBITDA of $7 million on sales of $104 million for the quarter ended March 30, 2013, compared to adjusted EBITDA of $2 million on sales of $101 million in the prior quarter. Sales increased by $3 million due to higher selling prices for lumber, partially offset by lower shipments. Lumber shipments were equal to 76% of capacity versus 84% in the prior quarter. The decrease was due primarily to seasonal and logistic issues. Market conditions continued to improve as the quarter progressed. US $ reference prices for random lumber increased by US $58 per mbf while stud lumber increased by US $50 per mbf.

    The Paper Pulp segment generated adjusted EBITDA of $4 million on sales of $122 million for the quarter ended March 30, 2013, compared to nil adjusted EBITDA on sales of $117 million in the prior quarter. The $5 million increase in sales was due to higher prices and shipments of Northern Bleached Softwood Kraft (NBSK) pulp, partially offset by lower shipments of high-yield pulp. The benchmark price (delivered China) for NBSK increased by US $16 per tonne while reference prices for bleached eucalyptus kraft (BEK) increased by US $50 per tonne. Currency was also a slight positive as the Canadian dollar weakened versus the US dollar.

  • Macmillan Finalizes E-book Settlement, Will Pay $26 Million

    End User News, |

    4/30/2013 12:00:00 AM

    In a joint filing last week, attorneys told Judge Denise Cote that they have finalized the agreement between Macmillan and the state and consumer classes to settle e-book price-fixing claims. The executed agreement now awaits Cote’s approval, which is expected.

    Among the details: the price tag for Macmillan will actually top $26 million, rather than the $20 million settlement initially announced. The final settlement includes $20 million for consumer compensation; $3 million to cover the costs of the “investigation” and litigation; $2.475 million for plaintiff's attorneys’ fees; and $1,000 for each of the named plaintiffs in the consumer class as a “service award.” The final payout for Macmillan is capped at $26,250,000. Payouts to consumers who bought e-books could begin sometime this summer.

    Macmillan denies any wrongdoing, and the filing also includes a stipulation that Macmillan will not participate in the upcoming e-book trial, currently slated to begin on June 3, with Apple and Penguin as defendants. The executed agreement comes as Judge Cote ruled that Penguin will participate in the upcoming bench trial, denying the publishers’ bid for a separate jury trial to settle the state and consumer class action.

  • Norske Skog: New long-term energy contract for Saugbrugs

    Producer News, |

    4/30/2013 12:00:00 AM

    Norske Skog Saugbrugs AS has signed a long-term agreement with Statkraft for the supply of electricity for the paper mill in Halden.

    We are very pleased with the agreement. Norske Skog Saugbrugs is important, both for the group and for the forestry industry in Southern Norway. This helps to secure jobs in Saugbrugs, says Sven Ombudstvedt, President and CEO in Norske Skog and chairman of the board in Norske Skog Saugbrugs AS. 

    The new agreement with Statkraft secures an annual supply of 1.0 TWh up to 31 December 2020. The agreement shall enter into force on 1 May 2013. The new agreement ensures almost full energy coverage for Saugbrugs over the next few years.

    Norske Skogindustrier ASA has terminated its long-term group agreement from 1998 that applied to supply of energy in Southern Norway.

  • Catalogers book the highest conversion rate in the Top 500

    End User News, |

    4/30/2013 12:00:00 AM
    Catalog and call center retailers in the 2013 Internet Retailer Top 500 guide outperform retail chains, manufacturers and web-only retailers in one important e-commerce metric: conversion rate. As a group, they have the highest average conversion rate of 5.1% in 2012, an improvement from 4.7% in 2011.
     
    Indeed, catalog and call center retailers have consistently had the highest average conversion rate among the merchant types in the 10 years since the publication of the first Internet Retailer guide to e-commerce, called the Top 300 in 2003.
     
    One big reason is that these retailers typically send catalogs focused on specific products, such as gifts or pet supplies, to consumers who buy those products. “Because we have specifically targeted push campaign, we are reaching a highly targeted group,” says Paul Lazorisak, vice president of customer marketing at Harry and David Holdings Inc., a gift retailer that is No. 132 in the Internet Retailer Top 500 guide. That means consumers who view a Harry & David catalog often have every intention of making a purchase when they visit the retailer’s e-commerce site, he says.
     
    “The catalog is the largest single driver of traffic to the web,” says Stephen Lett, president and founder of Lett Direct Inc., a direct marketing consultancy.  “While the Internet has become the preferred way to place an order, consumers still prefer to shop from a print catalog.”
     
    In 2012, the average conversion rate for web-only retailers was 3.4%; retail chain, 2.7%; and consumer brand manufacturers, 2.2%.
  • WTI Crude Heads for Monthly Drop as Supplies Seen Rising

    Miscellaneous News, |

    4/30/2013 12:00:00 AM

    West Texas Intermediate traded little changed, heading for a monthly decline before a report that may show U.S. crude inventories at a two-decade peak.

    Futures fell as much as 0.3 percent in New York after advancing 1.6 percent yesterday. Crude stockpiles increased by 1.1 million barrels last week to 389.7 million, the most since July 1990, according to a Bloomberg survey before a report from the Energy Information Administration tomorrow. WTI’s discount to Brent narrowed to a 15-month low.

    “Abundant supplies” have pressured prices, said Carsten Fritsch, an analyst at Commerzbank AG in Frankfurt, who forecasts WTI will average $95 a barrel this quarter. “The first half of April was very weak, as poor economic data fueled demand concerns and financial investors took to the exit.”

    WTI for June delivery fell as much as 31 cents to $94.19 a barrel in electronic trading on the New York Mercantile Exchange and was at $94.55 as of 11:01 a.m. London time. The volume of all contracts traded was 35 percent below the 100-day average. Futures climbed 1.5 percent to $94.50 yesterday, the highest since April 10. Prices are down 2.8 percent this month.

    Brent for June settlement was 3 cents higher at $103.84 a barrel on the London-based ICE Futures Europe exchange.

  • Best Buy to Sell its Stake in European Business to Carphone Warehouse

    End User News, |

    4/30/2013 12:00:00 AM
    Best Buy Co., Inc., the leading authority and destination for technology products and services, today announced that it has entered into a definitive agreement for the sale of its 50 percent interest in Best Buy Europe, the joint venture it created in 2008 with Carphone Warehouse Group plc (CPW). The sale price of £500 million (approximately $775 million as of April 29, 2013) is comprised of £420 million in cash and £80 million in CPW stock subject to a 12-month lock-up restriction. During the lock-up period, however, both parties have agreed that CPW will be able to place the CPW shares on behalf of Best Buy at or above the issue price, with any additional proceeds above the issue price being retained by CPW. If, at the end of the lock-up period, the sum of the total proceeds received by Best Buy from sales of the CPW shares by CPW plus the market value of any remaining shares is less than £64 million (approximately $99 million), CPW will pay such deficiency to Best Buy.
     
    In conjunction with the transaction, Best Buy has agreed to pay CPW £29 million (approximately $45 million as of April 29, 2013) in satisfaction of obligations under existing agreements, including the parties’ Global Connect partnership, which will be terminated at closing.
     
    The boards of directors of both companies have approved this transaction. All directors of CPW have also signed letters of commitment to vote their shares in support of the transaction. The transaction is subject to approval by the shareholders of CPW, but is not subject to any closing conditions in respect of financing. The transaction is expected to close by the end of June 2013.
  • 1-800-FLOWERS.COM, Inc. Reports Continued Positive Top and Bottom-Line Trends for its Fiscal 2013 Third Quarter

    End User News, |

    4/30/2013 12:00:00 AM

    1-800-FLOWERS.COM, Inc., the world's leading florist and gift shop, today reported revenues from continuing operations of $192.6 million for its fiscal 2013 third quarter ended March 31, 2013, compared with revenues from continuing operations of $179.7 million in the prior year period. The Company said the 7.2 percent growth, or $13.0 million, was primarily driven by strong Valentine holiday performance in the 1-800-FLOWERS.COM brand, which grew 11.4 percent during the month of February, as well as the shift of the Easter holiday into the period, compared with the prior year when Easter fell in the Company's fiscal fourth quarter.

    Gross profit margin for the third quarter increased 100 basis points to 41.7 percent, compared with 40.7 percent in the prior year period, driven by a 100 basis point improvement in the Company's Consumer Floral segment, reflecting disciplined promotional marketing programs and a continued focus on "truly original" product designs as well as a 530 basis point increase in the Company's BloomNet segment, primarily reflecting product mix. Operating expenses as a percent of revenue improved 100 basis points to 39.6 percent, compared with 40.6 percent in the prior year period. The improved operating expense ratio primarily reflects the increased revenues for the quarter as well as the Company's continued focus on improving leverage across its business platform.

    Adjusted EBITDA from continuing operations for the quarter increased 57.2 percent to $10.0 million compared with EBITDA of $6.4 million in the prior year period. Net income from continuing operations was $2.6 million, or $0.04 per diluted share, compared with net income from continuing operations of $51,000, or $0.00 per diluted share, in the prior year period.

    Jim McCann, CEO of 1-800-FLOWERS.COM, said, "During the fiscal third quarter we achieved solid top-line growth and strong bottom-line results despite continued uncertainty in the consumer environment. These results represent a continuation of the positive trends in our business that we have seen for more than two years now and reflect the success of our efforts to manage those aspects of our business that we can control. This includes our enhanced marketing and merchandising programs that are helping to drive solid revenue growth along with increased gross margins and our focus on leveraging our business platform to reduce operating costs and help drive outsized benefits in terms of EBITDA and EPS growth."

  • Office Depot Announces First Quarter 2013 Results

    End User News, |

    4/30/2013 12:00:00 AM

    Office Depot, Inc., a leading global provider of office supplies and services, today announced results for the fiscal quarter ended March 30, 2013.

    Total Company sales for the first quarter of 2013 were approximately $2.7 billion, down 5% compared to the first quarter of 2012 in both U.S. dollars and in constant currency. Sales in the quarter were negatively impacted by approximately $58 million or 200 basis points compared to the prior year due to a shift in the timing of the New Year and Easter holidays.

    The Company reported a net loss, after preferred stock dividends, of $17 million or $0.06 per share in the first quarter of 2013, compared to net earnings, after preferred stock dividends, of $41 million or $0.14 per diluted share in the first quarter of 2012.

  • Meredith Announces Expansion Of Innovative Meredith Sales Guarantee After Strong First-Year Performance

    End User News, |

    4/30/2013 12:00:00 AM

    Meredith Corporation — the nation's leading female-focused media and marketing company with an audience of 100 million American women - today announced that it was expanding the Meredith Sales Guarantee program following a very successful inaugural year.

    Brands participating in the first year of the Meredith Sales Guarantee experienced an average return on investment (ROI) of $7.81 for every $1 invested in advertising in Meredith magazines, proving that advertising in Meredith magazines increases product sales at retail. 

    Meredith's $7.81 ROI, incorporating the impact of both annualized consumer response and total households, was far better than the average $2.79 ROI for campaigns run on digital portals/ad networks as measured by Nielsen Catalina Solutions over the last five years.

    "The results from our first-year partners have been incredibly strong," says Dick Porter, President, Media Sales, Meredith National Media Group. "Over the past year, we have been able to demonstrate to a broad range of inaugural clients that Meredith magazines are delivering sizable sales increases and improved return on their investment.  Based on this success, we are now expanding the program armed with this new data demonstrating how Meredith magazines are much more effective than ad portals in driving retail sales."

    The innovative program guarantees clients an increase in sales performance for brands that advertise in Meredith's industry-leading portfolio of women-focused magazines. On average, Meredith magazine readers generated an increased sales lift of nine percent on advertised brands in categories such as food, beauty, household goods and over-the-counter drugs. In addition to increasing product sales, the research also revealed that more than half of buyers were new purchasers of specific brands.

  • Verso Paper Corp. Reports 2012 Sustainability Progress in "Deep Roots, New Routes"

    Producer News, |

    4/30/2013 12:00:00 AM

    Verso Paper Corp. today announced the publication of its 2012 Sustainability Report titled "Deep Roots, New Routes." The report details Verso's progress against its commitment to respect a sustainable balance among environmental, social and economic needs.

    "When I joined Verso in 2012, one of the first things that impressed me was how engaged our people are in making the company a truly sustainable enterprise," said Verso President and CEO Dave Paterson. "It's their genuine commitment to Verso's founding principles, their drive to adapt and innovate in a changing marketplace and their dedication to doing what's right for our business, our customers and our planet that bring to life this year's Sustainability Report theme, Deep Roots, New Routes."

    2012 Sustainability Report Highlights
    • Verso's 2012 energy initiatives kept us on track to achieve our U.S. Department of Energy Better Buildings, Better Plants goal of reducing energy intensity by 25% by 2019.
    • We completed and commercialized a $42 million renewable energy project at our Bucksport Mill in Maine that includes an upgraded biomass delivery system, upgraded combination boiler and new 25 megawatt turbine generator. The boiler, previously fed by a combination of fuels, now runs solely on renewable biomass save for a small amount of natural gas used to ignite the boiler at startup.
    • 65 percent of total on-site energy generated by Verso in 2012 came from renewable, greenhouse gas-neutral biomass.
    • 69 percent of the wood fiber Verso used was third-party certified to a credible forest management certification standard and all three Verso mills maintained compliance with the Programme for the Endorsement of Forest Certification (BV-PEFCCOC-US005202-1) and Forest Stewardship Council™ (FSC® License Code FSC®-C019085) chain-of-custody standards.
    • 32% of our total sales were chain-of-custody certified in 2012.
    • We launched the Verso Forest Certification Grant Program, an initiative aimed at increasing certified fiber and certified acreage on lands near our three paper mills. The program provides start-up funding to encourage and assist landowners, consulting foresters and other stakeholders in developing innovative new projects that will help expand and maintain certification in Verso's wood procurement zones.
    • Each of Verso's three mills maintained certification to the ISO 14001:2004 environmental management system standard.
    • Verso had a perfect environmental compliance record in 2012 with no environmental compliance notices from regulatory agencies.

  • Resolute Reports Preliminary First Quarter 2013 Results

    Producer News, |

    4/30/2013 12:00:00 AM

    Resolute Forest Products Inc. today reported a net loss of $5 million for the quarter ended March 31, 2013, or $0.05 per share, on sales of $1.074 billion. This compares to net income of $23 million, or $0.23 per diluted share, on sales of $1.054 billion in the first quarter ended March 31, 2012.

    Excluding $33 million of special items, net income for the quarter was $28 million, or $0.30 per share. Excluding special items of $16 million, net income in the first quarter of 2012 was $7 million, or $0.07 per diluted share. Non-GAAP financial measures, such as adjustments for special items and adjusted EBITDA, are reconciled below.

    "Our efforts to restructure mills and machines during the last two years will lower our manufacturing costs, which will help to mitigate the challenges facing the North American forest products industry," said Richard Garneau, president and chief executive officer.

    In the first quarter of 2013, the Company recorded an operating loss of $50 million, compared to $46 million in the fourth quarter of 2012. The $4 million unfavorable change reflects a $54 million reduction in sales, due to lower shipments of newsprint and specialty papers due to seasonality and market conditions, and capacity reduction initiatives. Overall pricing contributed $4 million, as higher transaction prices in wood products more than offset declines in newsprint. Cost of sales was down $19 million, due mainly to the lower volume, offset in part by costs associated with the annual outage at the Catawba, South Carolina, mill, higher mill start-up costs and increases in certain other manufacturing costs. The change in operating results was also favorably affected by a $42 million reduction in closure costs.

  • Wausau Paper Reports First-Quarter 2013 Results

    Producer News, |

    4/30/2013 12:00:00 AM

    Wausau Paper today reported results for the first quarter of 2013.

    QUARTER SUMMARY
    • Excluding special items, the Company reported a net loss for the first-quarter of $1.7 million, or $0.04 per share compared with first-quarter 2012 net earnings, excluding discontinued operations and special items, of $4.8 million, or $0.10 per share.
    • On a reported basis, the first-quarter was a net loss of $0.60 per share, which includes a $0.57 per share charge related to the closure of the Brainerd, Minnesota, mill on March 29, compared to net earnings of $0.03 per share a year ago.
    • Results reflect the impact of the startup of the $220 million Tissue expansion project in Harrodsburg, Kentucky, and the February scheduled outage to install and commission ATMOS technology on the new machine.
     
    During the quarter, the Company:
    • Announced strategic intent to focus on its Tissue business and explore alternatives for its technical specialty paper business.
    • Announced closure of Brainerd, Minnesota facility, and on March 28 the site ceased manufacturing operations at the facility.
    • Signed a non-binding letter of intent to sell the technical paper business based at the Mosinee and Rhinelander, Wisconsin, facilities to an affiliate of KPS Capital Partners.
    • Qualified a family of new products based on ATMOS substrates to support the second-quarter launch of the DublNature® brand.
     
    Henry C. Newell, president and CEO, commented, “We have made significant progress on repositioning the Company to focus on tissue. The recent investment in the Tissue business positions us for growth, with a long term return on capital goal of 18 percent and achievement of 15 percent return on capital by the end of 2014. The conversion of our new tissue machine from conventional to ATMOS production has been completed and we’re qualifying and producing products to support the launch of our new DublNature® brand in the second quarter. We remain committed to delivering six percent case shipment growth in our tissue business by the fourth quarter of 2013.

  • SCA Group Interim Report Q1 2013

    Producer News, |

    4/29/2013 12:00:00 AM

    •Net sales rose 15% (20% excluding exchange rate effects and divestments) to SEK 22,386m (19,490)
     •Operating profit excluding items affecting comparability rose 20% (25% excluding exchange rate effects) to SEK 2,205m (1,834)
     •Profit before tax, excluding items affecting comparability, rose 29% (34% excluding exchange rate effects) to SEK 1,941m (1,503)

    The hygiene operations are showing favorable sales growth and improved earnings. The lower earnings for Forest Products are mainly attributable to negative exchange rate effects and lower prices for publication papers.
     
    The efficiency programs in the hygiene and forest products operations are continuing according to plan.
     
    Consolidated net sales for the first quarter of 2013, excluding exchange rate effects and divestments, rose 20% compared with the same period a year ago. The increase is mainly attributable to acquisitions and higher volumes.
     
    Operating profit excluding exchange rate effects and items affecting comparability rose 25%. The corresponding profit for Personal Care and Tissue rose 27% and 40%, respectively, while profit for Forest Products decreased by 22%. Forest Products includes positive earning effects of SEK 121m attributable to land swaps and negative exchange rate effects of approximately SEK 110m. Profit before tax, excluding exchange rate effects and items affecting comparability, rose 34%.

  • Magazine Subscribers Ask Court To Revive 'Shine The Light' Lawsuits

    End User News, |

    4/29/2013 12:00:00 AM
    Three magazine subscribers are asking a federal appeals court to reinstate their lawsuits accusing the publishers of violating a California law dealing with the sale of customer lists.
     
    Men's Journal subscriber David Boorstein and Time subscriber Nicholas Murray say in new court papers that their cases were wrongly dismissed last year, when trial judges ruled that the two consumers hadn't suffered any economic injury and therefore lacked “standing” to sue. Charlotte Baxter, who brought suit against Runner's World, argues that her case was wrongly dismissed, although for slightly different reasons.
     
    Men's Journal, Time and Runner's World were three of almost a dozen magazines sued last year for allegedly failing to comply with California's "Shine the Light" law. The 2003 California measure says companies selling customer lists must allow state residents to either opt out, or learn who is purchasing their names.
     
    The Shine the Light law also specifies that businesses must provide contact information -- such as a toll-free number or street address -- for consumers who wish to learn who has purchased data about them. The California law provides for damages of up to $3,000 per violation.
     
    Boorstein and Murphy now argue to the 9th Circuit Court of Appeals that they should have been able to seek an order requiring the magazine companies to comply with the law, regardless of whether they suffered any monetary loss. They also say in their appellate papers, filed last week, that they sustained “informational injury,” in that the magazines “failed to provide information that [they were] required to provide.”
  • Cascades Antibacterial Towel Wins Prestigious Edison Award Gold Medal

    Producer News, |

    4/29/2013 12:00:00 AM

    Cascades today announced that its Cascades® Antibacterial paper towel has received Gold honors – the highest available – in the Edison Awards Consumer Packaged Goods: Cleaning Solutions category. The award, named after Thomas Edison, was bestowed to Cascades in a special gala held last night in Chicago and came by way of an international judging panel of more than 3,000 business executives, academics and leaders in the fields of product development, design, engineering, science and medicine.

    The company's novel paper towel was launched October 2012 in the North American market as a simple, safe and effective way to reduce bacterial contamination and transmission. Dry to the touch, the green-colored Cascades Antibacterial paper towel has been confirmed in third-party testing to kill over 99.99 percent of harmful bacteria upon coming into contact with wet hands. Among other uses, the product was designed to help decrease contamination possibilities within the food processing and food service industries, and reduce absenteeism rates at work and school. Studies also show that paper towels are the best choice for good hand hygiene; the antibacterial version is therefore an even safer option.

  • WTI Crude Rises to Near Two-Week High; OPEC Basket Above $100

    Miscellaneous News, |

    4/29/2013 12:00:00 AM

    West Texas Intermediate crude advanced to near its highest closing level in more than two weeks. OPEC’s reference price rebounded above $100 a barrel.

    WTI reversed losses of 0.6 percent as European stocks and the euro rose amid speculation central banks will maintain monetary stimulus. Brent crude traded near its highest closing price in two weeks as Italian Prime Minister Enrico Letta prepared to finish installing a new government.

    “We do expect oil demand to pick up in the months ahead,” said Michael Poulsen, an analyst at Global Risk Management in Middlefart, Denmark. Brent “prices should be fundamentally supported around the three-digit mark,” he said.

    WTI for June delivery climbed as much as 44 cents, or 0.5 percent, to $93.44 a barrel in electronic trading on the New York Mercantile Exchange, and traded for $93.39 as of 11:04 a.m. London time. It settled at $93.64 on April 25, the highest closing level since April 10. The volume of all contracts traded was 10 percent below the 100-day average.

    Brent for June settlement declined as much as 59 cents to $102.57 a barrel on the London-based ICE Futures Europe exchange, and was at $103.09.

  • E-Commerce Lifts UPS 1Q Earnings

    End User News, |

    4/26/2013 12:00:00 AM

    UPS today announced first quarter 2013 adjusted diluted earnings per share of $1.04. The quarter benefited from a stronger than expected post-holiday season in January as UPS e-commerce solutions resonated with customers. In the U.S. Domestic segment, daily package volume grew 4.4% and operating profit improved 9%. Additionally, UPS reaffirmed its full-year 2013 guidance for adjusted diluted earnings per share; an increase of 6-to-12% over 2012 adjusted results.

    On a reported basis, diluted earnings per share were $1.08, compared to $1.00 for the same period last year. During the quarter, UPS reported a $36 million after-tax gain related to its attempted acquisition of TNT. This amount includes a $213 million after-tax currency gain from liquidating a foreign subsidiary, mostly offset by a $177 million after-tax charge for the termination fee and other transaction-related costs.

  • UPM and VTT to initiate fleet tests of wood-based diesel using Volkswagen cars

    Producer News, |

    4/26/2013 12:00:00 AM

    UPM, VTT and VV-Auto Group will start fleet tests of renewable domestic diesel.  Biofuel will be produced by UPM, fleet tests will be coordinated by VTT and cars will be supplied by VV-Auto Group. Fleet tests with UPM BioVerno will start in May, lasting several months.

    UPM BioVerno diesel has previously been studied in engine and vehicle tests conducted by VTT amongst others. The fleet tests will focus on investigating UPM renewable diesel in terms of fuel functionality in engine, emissions and fuel consumption.

    "We are very happy to collaborate with renowned partners in the fleet tests, with sustainable development being the common denominator for us all," says UPM Biofuels Vice President Petri Kukkonen.

    The fleet tests are a part of a larger project coordinated by VTT. The goal of this project is to encourage companies to commercialise renewable energy solutions in traffic.

  • UN moves to save sustainable forests

    Environmental News, |

    4/26/2013 12:00:00 AM

    The United Nations Forum on Forests concluded its tenth session in Istanbul in the early hours of Saturday after agreeing on a series of measures to improve the sustainable management of forests, and deciding to consider setting up a voluntary global fund to support this endeavour. The Forum, which met for the first time away from UN Headquarters in New York, adopted two resolutions as it wrapped up its two-week session, one on forests and economic development ­– the main theme of the session – and the other on financing.

    Recognizing the vital role of forests to lives and livelihoods, the 197 member countries of the Forum called on national governments to take a range of actions to improve sustainable forest management, from substantive data collection to addressing the causes of deforestation and forests degradation. Also, while recognizing that there is no single solution to meet all forest financing needs, the Forum agreed that multiple sources of financing, at the national, regional and international levels, was needed from various sources, public and private, including consideration of a voluntary global forest fund.

    Forests cover one-third of the Earth's landmass and about 1.6 billion people depend on forests for their livelihood. Three-fourths of freshwater comes from forested catchment areas and forests stabilize slopes, prevent landslides and protect coastal communities against tsunamis and storms. More than three billion people depend on forests for wood for cooking and heating. “There is now greater recognition than ever before that forests are essential to economic development and sustainable development,” said Jan McAlpine, Director of Forum's Secretariat. “In this historic meeting, countries broke new ground and agreed to take actions that demonstrate the need to sustainably manage our forests so that they can continue to be a source of livelihoods, broader economic development, including clean air, clean water and biodiversity – all leading to poverty eradication.”

  • Weyerhaeuser Reports First Quarter Results

    Producer News, |

    4/26/2013 12:00:00 AM

    Weyerhaeuser Company today reported net earnings of $144 million, or 26 cents per diluted share, for the first quarter. This compares with net earnings before special items of $9 million, or 2 cents per diluted share, for the same period last year. Net sales for the first quarter of 2013 totaled $2.0 billion, compared with net sales of $1.5 billion for the first quarter of 2012.

    Highlights for Cellulose Fibers:
    1Q 2013 Performance – Scheduled maintenance costs increased and pulp mill productivity declined due to a greater number of annual maintenance outage days and major maintenance projects. Fiber and energy costs increased, and average price realizations for pulp declined slightly.

    2Q 2013 Outlook - Weyerhaeuser expects significantly higher earnings from the Cellulose Fibers segment in the second quarter. The company anticipates reduced fiber and energy costs, lower maintenance expense, and slightly higher pulp price realizations.

  • Metso to supply containerboard line for Lee & Man in China

    Packaging News, |

    4/26/2013 12:00:00 AM

    Metso will supply Lee & Man Paper Manufacturing Ltd. with an OptiConcept M containerboard production line for their Chongqing site in Sichuan Province in China. The new production line is targeted to produce a high-quality end product with excellent strength properties. The start-up of the production line is scheduled for 2014. The value of the order will not be disclosed.

    Metso’s novel OptiConcept M production line stands for economy of total investment, personnel safety and machine usability as well as reduction of environmental load.
    “This production line optimizes the machine investment in line with the mill’s capacity needs and ensures optimized productivity at minimal operational cost,” summarizes Sami Anttilainen, R&D Director, Paper business line, Metso.

    Metso’s delivery will comprise a complete OptiConcept M boardmaking line from headbox to reel with related air systems. A comprehensive automation package comprises a mill-wide Metso DNA automation solution with machine and process controls, a Metso IQ quality control system and a Metso IQ Dilution Profiler.

    The 7.25-m-wide (wire) PM 20 will produce testliner grades out of recycled raw material in the basis weight range of 70-160 g/m2. The production capacity of PM 20 will be approximately 1,160 tonnes per day and the design speed 1,100 m/min.

  • Mag Bag: 'National Journal' Bows NJ+ Digital Ad Targeting

    End User News, |

    4/26/2013 12:00:00 AM

    The National Journal, which covers politics and policy from a professional perspective, has joined forces with Audience Partners to create a new tool, NJ+, for targeting digital advertising to constituency groups, owner Atlantic Media announced this week.

    NJ+ allows advertisers to target segments of the NJ audience with an efficiency and precision comparable to direct mail, according to the magazine, with a particular emphasis on “influentials” who help shape the legislative environment at the state and national level. Advertisers can target audience segments by demographic traits including age, gender, income, political activity, geography, media market, industry sector, and voting frequency.
     
    In addition to its weekly magazine, National Journal’s media products also include online coverage at its Web site, a daily print chronicle of Congressional proceedings, and live events.

  • Harte-Hanks Reports First Quarter Results

    Printer News, |

    4/26/2013 12:00:00 AM

    Harte-Hanks, Inc. today reported first quarter 2013 diluted earnings per share from continuing operations of $0.11 on revenues of $178.3 million. These results compare to diluted earnings per share from continuing operations of $0.12 on $186.0 million in revenues for the first quarter of 2012.

    Selected Highlights:
    •Harte-Hanks was selected by the animal health division of a long-standing healthcare client to execute an integrated rebate program. Harte-Hanks will provide database build and hosting, deploy a new marketing campaign and provide all rebate support services, including an innovative web services data entry portal, contact center, mail service, check production and rebate processing.
    •National Vision, Inc., an eyeglass retailer, has engaged Harte-Hanks to provide its Customer Relationship Management (CRM) agency and database marketing needs. The Agency Inside® Harte-Hanks will lead the initiative to provide integrated strategy, analytics, direct mail, digital print, data services and database development to help National Vision develop a more effective customer engagement strategy focused on customer retention and repeat business.
    •Harte-Hanks has released TrilliumLynx™, a new offering that takes advantage of an outside data source allowing Harte-Hanks to link the individuals/members of a household together and use such information to provide in-depth analytic and reporting capabilities.

  • SpinMedia Buys Vibe

    End User News, |

    4/26/2013 12:00:00 AM

    SpinMedia, a network of music and pop culture sites, has purchased Vibe magazine and reports are indicating that the brand will get the digital-only treatment Spin magazine received shortly after SpinMedia, then called BuzzMedia, bought it in mid-2012.

    According to The New York Times, SpinMedia has acquired the rights to the print magazine,Vibe.com and Vibevixen.com.

    Peter Kafka at All Things D adds that the deal was done with equity, not cash.

    When SpinMedia bought Spin, then-CEO Tyler Goldman was initially circumspect about the print magazine's future, but this time around Steve Hansen, who replaced Goldman as CEO in late 2012, says Vibe the print magazine will likely be shut down by the end of the year.

  • Deluxe Reports First Quarter 2013 Financial Results

    Printer News, |

    4/26/2013 12:00:00 AM

    Deluxe Corporation announced its financial results for the first quarter ended March 31, 2013.

    First Quarter 2013 Highlights:
    • Revenue for the quarter was $387.6 million compared to $378.0 million during the first quarter of 2012. Revenue increased 2.5% compared to 2012, despite two fewer business days in 2013, driven by 8.1% growth in Small Business Services. Marketing solutions and other services revenue increased 22.2% compared to 2012 and represented 19.2% of consolidated revenue, up from 16.1% in the first quarter of 2012.
    • Gross margin was 65.6% of revenue, compared to 66.3% in the first quarter of 2012. Unfavorable product mix and increased delivery rates and material costs in 2013, were partly offset by favorable impacts from price increases and the Company’s continued cost reduction initiatives.
    • Selling, general and administrative (SG&A) expense increased $3.3 million in the quarter compared to 2012. Increased SG&A expense associated with commissions on increased revenue, as well as higher brand awareness spending and the OrangeSoda acquisition in the second quarter of 2012, was partially offset by benefits from continued execution against expense reduction initiatives.
    • Operating income in 2013 was $77.7 million compared to $78.0 million in the first quarter of 2012. Restructuring-related costs were $1.4 million in 2013 versus $1.9 million in 2012. These costs were primarily attributable to the Company’s on-going cost reduction initiatives. Operating income was 20.0% of revenue compared to 20.6% in the prior year driven primarily by product mix, increased delivery rates and material costs, and the OrangeSoda acquisition in the second quarter of 2012, partly offset by higher revenue per order and continued cost reductions.

  • AAA Fuel Gage & Exchange Rates

    Miscellaneous News, |

    4/26/2013 12:00:00 AM

    AAA Fuel Gage 4/26/13
    National Unleaded Regular:
    Current Average - $3.505/gallon
    Month Ago Average - $3.650/gallon
    Year Ago Average - $3.830/gallon
    Highest Recorded Average - $4.114/gallon on 7/17/08
    Diesel:
    Current Average - $3.890/gallon
    Month Ago Average - $4.018/gallon
    Year Ago Average - $4.104/gallon
    Highest Recorded Average - $4.845/gallon on 7/17/08

    Current Exchange Rates as of 4/26/13
    American Dollar to Canadian Dollar = 0.980537
    American Dollar to Chinese Yuan = 0.162139
    American Dollar to Euro = 1.300341
    American Dollar to Japanese Yen = 0.010129
    American Dollar to Mexican Peso = 0.082148

  • WTI Crude Retreats to Pare Biggest Weekly Gain Since June

    Miscellaneous News, |

    4/26/2013 12:00:00 AM

    West Texas Intermediate fell for the first time in seven days amid speculation the biggest weekly advance since June was excessive.

    Futures slid as much as 0.9 percent after failing to settle above a technical-resistance level, paring this week’s advance to 5.8 percent. Prices may rise next week on speculation that the European Central Bank will cut its key interest rate to a record low, a Bloomberg News survey showed. Brent crude’s premium to WTI shrank to its narrowest since January.

    “Market sentiment is still bearish,” said Andrey Kryuchenkov, an analyst at VTB Capital in London. “Crude markets tend to overshoot and we do not expect deep and sustained losses here.”

    WTI for June delivery declined as much as 81 cents to $92.983a barrel in electronic trading on the New York Mercantile Exchange and was at $93.04 as of 10:46 a.m. London time.

  • Bemis Company Reports 2013 First Quarter Results

    Packaging News, |

    4/26/2013 12:00:00 AM
    Bemis Company, Inc.  today reported first quarter 2013 diluted earnings of $0.47 per share on net sales of $1.3 billion.  Excluding the effect of facility consolidation and acquisition-related integration charges detailed in the attached schedule, “Reconciliation of Non-GAAP Earnings Per Share”, adjusted diluted earnings per share would have increased to $0.53 for the first quarter of 2013 compared to $0.49 for the first quarter of 2012.  Excluding the impact of currency, net sales for the quarter decreased by 1.8 percent compared to the first quarter of 2012.
     
    “I am pleased to report that we achieved record first quarter adjusted earnings per share this year,” said Henry Theisen, Bemis Company's President and Chief Executive Officer.  “Our improved margin performance reflects our increased sales of barrier packaging for refrigerated products and the benefits of our 2012 facility consolidation program.  We are building positive momentum as we enter our seasonally stronger summer months and look forward to continued improvement throughout the year.”
     
    HIGHLIGHTS OF THE FIRST QUARTER OF 2013:
     •Adjusted diluted earnings per share increased 8.2 percent to $0.53, in line with management's guidance for the quarter.
     •Gross profit as a percent of net sales improved to 19.3 percent compared to 17.7 percent in the first quarter of 2012.
     •Facility consolidation charges totaled $9.3 million.
     •Bemis repurchased one million shares of its common stock at a cost of $36 million.
  • Aptar Group Reports Record Quarterly Revenue

    Packaging News, |

    4/26/2013 12:00:00 AM

    AptarGroup, Inc. today reported first quarter results. Reported revenue reached an all-time quarterly record. Earnings per share before restructuring charges were equal with the prior year first quarter results.

    First Quarter 2013 Summary
     •Reported sales increased 4% to a quarterly record of $618 million (core sales excluding currency effects and the Aptar Stelmi acquisition decreased 1%)
    •Latin America and Asia sales growth remained strong
    •Reported earnings per share of $0.59 included the negative impact of $0.05 per share from charges related to the European Operations Optimization plan

    FIRST QUARTER RESULTS
    For the quarter ended March 31, 2013, reported sales increased 4% to $618 million from $592 million a year ago. Aptar Stelmi, which was acquired in July of 2012, contributed approximately $35 million or 6% to the quarterly sales growth. Changes in currency exchange rates negatively impacted sales by approximately 1%.

  • Amazon.com Announces First Quarter Sales up 22% to $16.07 Billion

    End User News, |

    4/26/2013 12:00:00 AM

    Amazon.com, Inc. today announced financial results for its first quarter ended March 31, 2013.

    Operating cash flow increased 39% to $4.25 billion for the trailing twelve months, compared with $3.05 billion for the trailing twelve months ended March 31, 2012. Free cash flow decreased 85% to $177 million for the trailing twelve months, compared with $1.15 billion for the trailing twelve months ended March 31, 2012. Free cash flow for the trailing twelve months ended March 31, 2013 includes fourth quarter 2012 cash outflows for purchases of corporate office space and property in Seattle, Washington, of $1.4 billion.

    Common shares outstanding plus shares underlying stock-based awards totaled 471 million on March 31, 2013, compared with 464 million one year ago.

    Net sales increased 22% to $16.07 billion in the first quarter, compared with $13.18 billion in first quarter 2012. Excluding the $302 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales grew 24% compared with first quarter 2012.

    Operating income decreased 6% to $181 million in the first quarter, compared with $192 million in first quarter 2012. The unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter on operating income was $12 million.

    Net income decreased 37% to $82 million in the first quarter, or $0.18 per diluted share, compared with $130 million, or $0.28 per diluted share, in first quarter 2012.

  • American Forest & Paper Association Releases March 2013 Containerboard Statistics Report

    Packaging News, |

    4/26/2013 12:00:00 AM
    The American Forest & Paper Association released its March 2013 U.S. Containerboard Statistics Report. 
     
    Containerboard production rose 6.8 percent over February 2013 but fell 2.6 percent over the same month last year.  The month-over-month average daily production decreased 3.5 percent.  The containerboard operating rate for March 2013 lost 3.4 points from February 2013, from 96.2 percent to 92.8 percent.
  • American Forest & Paper Association Releases March 2013 Kraft Paper Sector Report

    Packaging News, |

    4/26/2013 12:00:00 AM

    The American Forest & Paper Association released its March 2013 Kraft Paper Report.

    Total Kraft paper shipments were 132.6 thousand tons, an increase of 11.6 percent compared to the prior month.  Bleached Kraft paper shipments decreased year-over-year 1.3 percent, and the 7.2 percent year-over-year decline in unbleached Kraft paper shipments were enough to bring overall Kraft paper shipments down 6.5 percent year-over-year.  Total month-end inventory increased 0.4 percent to 71.6 thousand tons this month compared to February 2013 month-end inventories.

  • American Forest & Paper Association Releases March 2013 Paperboard Statistics Report

    Packaging News, |

    4/26/2013 12:00:00 AM
    The American Forest & Paper Association released its March 2013 U.S. Paperboard Report. 
     
    Total boxboard production decreased by 1.2 percent compared to March 2012 but increased 6 percent from last month.  Unbleached Kraft Boxboard production decreased over the same month last year and decreased compared to last month.  Total Solid Bleached Boxboard & Liner production decreased compared to March 2012 but increased compared to last month.  The production of Recycled Boxboard increased compared to March 2012 and increased when compared to last month.
  • American Forest & Paper Association Releases March 2013 Printing-Writing Paper Report

    Producer News, |

    4/26/2013 12:00:00 AM

    The American Forest & Paper Association has released its March 2013 Printing-Writing Paper Report.
     
    According to the report, total printing-writing paper shipments were down 6 percent compared to March 2012.

    Additional key findings:
    •    March shipments of coated free sheet (CFS) papers decreased less than 1 percent compared to March 2012, with year-to-date CFS shipments essentially flat through the first quarter.
    •    Uncoated free sheet (UFS) papers shipments of 753,000 tons in March were 6 percent below the same period last year, with imports increasing 12 percent year-over-year in February and exports declining 12 percent.
    •    March uncoated mechanical (UM) paper shipments decreased 13 percent when compared to March 2012, with year-over-year exports through February up 28 percent.
    •    Coated mechanical (CM) shipments in March decreased 9 percent compared to March 2012 to 247,800 tons. Imports of coated mechanical increased year-over-year through February, up 12 percent.

  • Vistaprint Reports Third Quarter Fiscal Year 2013 Financial Results

    Printer News, |

    4/26/2013 12:00:00 AM

    Vistaprint N.V., a leading online provider of professional marketing products and services to micro businesses and the home, today announced financial results for the three month period ended March 31, 2013, the third quarter of its 2013 fiscal year.

    Financial Metrics (including Albumprinter and Webs results unless otherwise stated):
    • Revenue for the third quarter of fiscal year 2013 grew to $287.7 million, a 12 percent increase over revenue of $257.6 million
    • Gross margin (revenue minus the cost of revenue as a percent of total revenue) in the third quarter was 65.5 percent, flat with the third quarter a year ago.
    • Operating income in the third quarter was $9.7 million, or 3.4 percent of revenue, and reflected an increase compared to operating income of $7.8 million, or 3.0 percent of revenue, in the same quarter a year ago.

  • McClatchy Reports First Quarter 2013 Earnings

    End User News, |

    4/26/2013 12:00:00 AM

    The McClatchy Company today reported a net loss in the first quarter of 2013 of $12.7 million or 15 cents per share, including an $8.1 million after-tax loss related to debt refinancing and open-market debt repurchases. In the first quarter of 2012 the company reported a net loss of $2.1 million or 2 cents per share.

    Total revenues in the first quarter of 2013 were $276.7 million, down 4.0% from the first quarter of 2012. Advertising revenues were $197.1 million, down 6.0% from 2012, and circulation revenues were $67.5 million, up 1.6%.  Total digital advertising revenues grew 1.5% in the first quarter of 2013, with digital-only advertising revenues up 8.9% from the 2012 quarter. Total digital advertising represented 24.0% of total advertising revenues in the first quarter of 2013 compared to 22.2% of total advertising revenues in the first quarter of 2012.

    The net loss in the first quarter of 2013, excluding the net impact of these items, was $0.7 million compared to a net loss in the first quarter of 2012 adjusted for similar items of $2.5 million. (Non-GAAP measurements are discussed below.)

    Operating cash expenses, excluding severance and other restructuring-related charges, declined approximately $4.1 million, or 1.8%, from the 2012 quarter. Operating cash flow was $53.4 million in the first quarter of 2013, down 12.2%.

  • Port Hawkesbury Paper - Price Announcement

    Producer News, |

    4/26/2013 12:00:00 AM

    Port Hawkesbury Paper is increasing prices effective on all new and existing orders with confirmed ship dates of July 1, 2013 or later. This increase is effective on orders shipped within Canada and the United States and includes all of the following grades:  Artisan® $2.50/cwt;  Prominence Plus® $2.50/cwt;  Prominence® $2.50/cwt;  Maritime® $3.00/cwt

    This price increase applies to all basis weights and finishes plus all related private label grades and associated brand extensions. A separate price announcement will be released for orders shipped outside of Canada and the United States.

  • Irving Price Incresase July 2013

    Producer News, |

    4/26/2013 12:00:00 AM

    Please be advised that Irving Paper will increase its prices of Irving SCA, Irving SCB, Irving Radiance (SCA+) and Irving Opulence (SCA++) $50/ST effective with all new and existing orders shipping on and after July 1, 2013.  This increase affects all basis weights.

  • The New York Times Announces New Strategy for Growth

    End User News, |

    4/26/2013 12:00:00 AM

    The New York Times today announced a series of strategic initiatives, which aim to grow the company’s revenues by leveraging its brand and the power and popularity of its award-winning journalism. Among the planned initiatives are the next phase in The Times’s digital subscription/paid products strategy; an international expansion under the new unified brand; and a renewed emphasis on both video production and brand extensions. These initiatives will begin to roll out in the fourth quarter of 2013 into 2014.

    Mark Thompson, the president and chief executive officer of The New York Times Company, said, “We mean to grow our business by launching new products and services based on the unique strengths of Times journalism and by investing in the rapid expansion of existing operations – video and live events are examples – where we’re already seeing strong growth. We want to deepen our relationship with our existing loyal customers, but we also want to use a wider family of New York Times products to reach new customers both here and around the world.”

    New products under development as part of the strategy include:
    • A lower-priced paid product designed to allow access to The Times’s most important and interesting stories in a convenient, media-rich package for consumers looking for an efficient way to stay informed. Consumer research has suggested very strong demand for such a product.
    • Other new products, also at lower price points, that would offer deep access and additional content and other new features in specific content areas such as politics, technology, opinion, the arts and food.
    • An enhanced tier that would offer extras at a higher price point to “all digital access” and print subscribers. Subscribers will likely be offered access to Times events and the ability to gift subscriptions and provide full family access, among other incentives.

    Growing international subscribers is another key component of the company’s strategy. As announced earlier this year, The Times will rebrand the International Herald Tribune as the International New York Times in the fourth quarter of 2013.

  • The New York Times Company Reports 2013 First-Quarter Results

    End User News, |

    4/26/2013 12:00:00 AM

    The New York Times Company announced today first-quarter 2013 diluted earnings per share from continuing operations of $.02 compared with $.06 in the same period of 2012. Excluding severance and the 2012 special items discussed below, diluted earnings per share from continuing operations were $.04 in the first quarter of 2013 compared with $.05 in the first quarter of 2012.

    The Company had operating profit of $22.9 million in the first quarter of 2013 compared with $12.6 million in the same period of 2012. Excluding depreciation, amortization and severance, operating profit rose 3.4 percent to $49.6 million from $48.0 million in the first quarter of 2012.

    “Our first-quarter results reflect our continued strides in reshaping The New York Times Company,” said Mark Thompson, president and chief executive officer. “The increase in operating profit, excluding depreciation, amortization and severance, was driven by solid growth in circulation revenues coupled with tightly managed costs, which were lower despite ongoing investment in our high-quality journalism and digital operations.

    “Circulation revenues rose nearly 7 percent, led by continued strength in our digital subscription initiatives. Paid digital subscriptions across the Company totaled approximately 708,000 at quarter end, an increase of more than 45 percent year-over-year from the end of the first quarter of 2012. At the same time, the difficult advertising environment has continued, though there are currently some signs of improvement in the second quarter.

  • Valassis Announces Results for the First Quarter Ended March 31, 2013

    Printer News, |

    4/26/2013 12:00:00 AM

    Valassis today announced financial results for the first quarter ended March 31, 2013.  First-quarter 2013 revenues were $482.5 million, a decrease of 7.0% from $518.6 million in the prior year quarter. This decrease was due primarily to an anticipated decline in revenues in the Neighborhood Targeted segment resulting from the change in certain client contracts to a fee-based media placement model. Increased revenues in our Free-standing Inserts (FSI) segment partially offset the decline.

    First-quarter 2013 net earnings were $21.7 million, a decrease of 17.8% from $26.4 million in the prior year quarter. First-quarter 2013 diluted earnings per share (EPS) was $0.54, a decrease of 10.0% from $0.60 in the prior year quarter. First-quarter 2013 adjusted EBITDA* was $58.0 million, a decrease of 13.4% from $67.0 million in the prior year quarter. 

  • UPM: Good Performance in Pulp, Energy and Label, Savings Programme Proceeds in Paper

    Producer News, |

    4/25/2013 12:00:00 AM

    Q1/2013 compared with Q1/2012
    Earnings per share excluding special items were EUR 0.18 (0.22), and reported EUR 0.09 (0.23)

    Operating profit excluding special items was EUR 144 million, 5.8 % of sales (156 million, 6.0%)

    CEO Jussi Pesonen comments on the first quarter of 2013:
    ”The first quarter was well in line with our expectations: steady and positive in our growth businesses, hard work and continuing challenges in Paper. Our operating profit excluding special items, at EUR 144 million, materialised close to the comparison periods (156 million in Q1 2012, 146 million in Q4 2012). The operating cash flow was EUR 103 million, which was impacted by a seasonal increase in working capital.

    The financial result was clearly underpinned by the continued good performance of Pulp, Energy, and Label. Our Pulp was back to normal performance and Energy hedging continued to be successful.

    The performance of Plywood and Timber also improved thanks to improved cost efficiency and revised commercial strategies.

    In Paper, however, the market developments were as challenging as we anticipated. The profitability of European paper business was negatively impacted by three factors: publication paper prices, adverse currency development and delivery volumes compared to the latter half of 2012.

    Measures taken in 2012 resulted in EUR 30 million lower fixed costs in the first quarter of 2013 compared to last year.

  • Sappi Fine Paper North America Continues Strong Record of Capital Investments in the Coated Paper Business

    Producer News, |

    4/25/2013 12:00:00 AM

    Sappi Fine Paper North America today announced the most recent completion of a series of coated paper capital investment projects during its 2013 fiscal year, a significant move by the company to maintain and strengthen its leadership position and take advantage of growth opportunities in the coated paper market. While ongoing investment to keep paper production globally competitive has generally reduced in the marketplace, Sappi's commitment to excellence in high quality coated paper manufacturing continues to remain a top priority. These strategic investments allow Sappi to more efficiently manufacture its full grade and basis weight range of product with unmatched quality and flexibility into the future.

    Cloquet Mill Investments
    The Cloquet Mill in Cloquet, Minnesota, has completed a $19M investment in its coated papermaking operations which includes a dry fiber handling system as well as new refiners and former upgrade on PM4. The former rebuild implemented on PM4 allows for all grades and weights to be manufactured with the technical capability of using dry fiber to produce the same base sheet formation and quality as slush fiber. Extensive trials have been conducted by Sappi for both sheet and web products to guarantee the quality and repeatability of product made with dry fiber meets the high standards that customers have come to expect from Sappi paper.

    Somerset Mill Investments
    At Sappi's Somerset Mill, in Skowhegan, Maine the rebuild of PM3 was completed successfully in October 2012. The $13M investment to upgrade coated paper manufacturing surpassed speed, production, and variable cost goals while achieving all of the formation and quality improvements outlined in the project plan. The implemented improvements on PM3 now allow for the production of a broader range of products on this machine. Sappi expects to see long- term benefits as a result of this project in the form of chemical and fiber savings as well as increased paper production.

    Enhancements to Product Labels
    As illustrated by Sappi's recent North American infrastructure investments, the company takes great pride in producing products in the United States and is pleased to announce the re-design of product labels to more clearly emphasize Sappi's support for local production by using the "Made in the USA" logo. Based on expressed interest from a wide variety of customers, this element was included during a label redesign improvement project that also aims to provide customers with a more organized way of displaying product information on labels. The new look features a cleaner design with bold, easy- to-read typefaces, and is now available on most products with the balance by the end of the year.

  • Ball Reports First Quarter 2013 Results

    Packaging News, |

    4/25/2013 12:00:00 AM

    Ball Corporation today reported first quarter net earnings attributable to the corporation of $72.0 million, or 47 cents per diluted share (including after tax charges of $15.9 million, or 11 cents per diluted share for business consolidation costs, discontinued operations and other activities) on sales of $2.0 billion, compared to $88.3 million, or 55 cents per diluted share, on sales of $2.0 billion in the first quarter of 2012. Comparable earnings per diluted share were 58 cents, an 8 percent decrease over 2012 first quarter results of 63 cents.

    Metal beverage packaging, Americas and Asia, comparable segment operating earnings were $104.0 million in the first quarter on sales of $995.2 million, compared to $105.5 million on sales of $1 billion in 2012.

    Metal beverage packaging, Europe, comparable segment results in the quarter were operating earnings of $30.9 million on sales of $402.9 million, compared to $42.4 million on sales of $414.5 million in 2012.

    Metal food and household products packaging comparable segment results in the quarter were operating earnings of $34.7 million on sales of $367.2 million, compared to $39.3 million on sales of $378.9 million in 2012.

  • Domtar Corporation Reports Preliminary First Quarter 2013 Financial Results

    Producer News, |

    4/25/2013 12:00:00 AM
    Domtar Corporation today reported net earnings of $45 million ($1.29 per share) for the first quarter of 2013 compared to net earnings of $19 million ($0.54 per share) for the fourth quarter of 2012 and net earnings of $28 million ($0.76 per share) for the first quarter of 2012. Sales for the first quarter of 2013 amounted to $1,345 million.
     
    Excluding items listed below, the Company had earnings before items1 of $33 million ($0.95 per share) for the first quarter of 2013 compared to earnings before items1 of $46 million ($1.31 per share) for the fourth quarter of 2012 and earnings before items1 of $61 million ($1.65 per share) for the first quarter of 2012.
     
    Operating income before items1 was $75 million in the first quarter of 2013 compared to an operating income before items1 of $84 million in the fourth quarter of 2012. Depreciation and amortization totaled $95 million in the first quarter of 2013.
     
    The decrease in operating income before items1 in the first quarter of 2013 was the result of higher usage for energy and chemicals, higher unit costs for fiber, lower average selling prices for paper, higher general production costs and higher selling, general and administrative and other expenses. These factors were partially offset by higher volumes for paper, lower costs for planned maintenance, higher average selling prices for pulp and a favorable exchange rate.
  • Graphic Packaging Holding Company Reports First Quarter 2013 Results

    Packaging News, |

    4/25/2013 12:00:00 AM

    Graphic Packaging Holding Company, a leading provider of packaging solutions to food, beverage and other consumer products companies, today reported Net Income for first quarter 2013 of $34.9 million, or $0.10 per share, based upon 350.4 million weighted average diluted shares.  This compares to first quarter 2012 Net Income of $17.2 million, or $0.04 per share, based on 396.5 million weighted average diluted shares.   

    Adjusted Net Income for the first quarter of 2013 was $35.8 million, or $0.10 per diluted share, when adjusted for $0.9 million in Restructuring and Other Special Charges (Net of Tax).  This compares to first quarter 2012 Adjusted Net Income of $24.7 million or $0.06 per diluted share.   

    Net Sales increased 3.1% to $1,100.5 million during first quarter 2013, compared to first quarter 2012 Net Sales of $1,067.2 million. The $33.3 million increase resulted from $42.2 million of favorable volume/mix, partially offset by $4.9 million of lower pricing and $4.0 million of unfavorable exchange rates.  The favorable volume/mix was primarily driven by the fourth quarter 2012 acquisitions of Contego Packaging Holdings Limited and A&R Carton Holding B.V.

  • Nekoosa Coated Products Acquires IGI Corp.

    Producer News, |

    4/25/2013 12:00:00 AM

    With the support of Wingate Partners, LLP, Nekoosa Coated Products acquired IGI Corp., parent of RTape Corp. and CET Films Corp. on Monday, April 22, 2013.

    The combination of Nekoosa Coated Products and IGI Corp. enhances the ability of both organizations to deliver innovative products and programs to their valued global channel partners.

    Paul Charapata, CEO of Nekoosa Coated Products, will lead the new organization, whereby RTape and CET Films will operate as divisions of Nekoosa Coated Products.

    “We are privileged to partner with an outstanding team at IGI Corp. RTape Corp. has a long-standing reputation as the leader in application tape and a very unique, highly valuable network of distribution partners. We look forward to expanding our relationships with these vital partners,” says Brad Brenneman, Wingate principal. “In addition, CET Films' value-added extruded films provide further growth opportunities.”

  • Norske Skog: Challenging markets (Q1-2013)

    Producer News, |

    4/25/2013 12:00:00 AM

    Lower margins in the quarter were due to lower selling prices and seasonal fluctuations in demand. Norske Skog is meeting this challenge through the closure and conversion of paper machines. Price increases are expected during the second half as a result of the considerable capacity closures that have been announced. Norske Skog continues to cut costs and improve productivity. Investments are also being made to improve profitability on certain machines. There is also focus on improving the regulatory environment in Norway.

    Norske Skog had gross operating earnings (EBITDA) in the first quarter of 2013 of NOK 174 million, down from NOK 385 million in the first quarter of 2012.

    The decline was mainly due to lower prices. Negative cash flow from operating activities of NOK 106 million in the first quarter, which was significantly weaker compared to the first quarter of 2012. The decrease was due to weaker margins, restructuring activities in Australia and seasonally increased working capital.

    Net interest-bearing debt increased by NOK 461 million in the quarter, due to negative currency effects and cash flow. The level of fixed costs was NOK 800 million in the first quarter, down from NOK 1 026 million in the first quarter of 2012.

  • «Big Bratsk» (Ilim Group) produced its first market pulp

    Producer News, |

    4/25/2013 12:00:00 AM

    On April 24, the first market pulp was produced at the new softwood pulp line that was built at the Bratsk Mill of Ilim Group located in Bratsk, Russia. This is a key milestone of the Big Bratsk project. Rump up to full production will continue over the next 6 months.

    «It is a great day for our company and all Russian pulp-and-paper industry. One of the largest projects in the industry for the last 30 years is reaching completion. We had successfully built the most modern softwood pulp line in the world. This will strengthen our position at our key markets», — said Paul Herbert, Ilim Group's CEO.

    Total investments in Big Bratsk project exceeded 800 mln dollars. The capacity of the new mill would be 720 thousand tons of bleached softwood pulp per year. The total annual production volume in Bratsk will exceed 1 million tons. The majority of the production from the new fiber line will be exported to China.

  • EURO-GRAPH Publishes Monthly Statistics of the European Graphic Papers Industry

    Producer News, |

    4/25/2013 12:00:00 AM
    Total European shipments of Graphic Papers declined 10.7% vs. March 2012 and is down 5.9% year-to-date.
    Total European shipments of Newsprint declined 12.2% vs. March 2012 and is down 7.9% year-to-date.
    Total European shipments of SC-Magazine declined 12.6% vs. March 2012 and is down 5.1% year-to-date.
    Total European shipments of Coated Mechanical Reels declined 11.8% vs. March 2012 and is down 8.4% year-to-date.
    Total European shipments of Uncoated Mechanical declined 1.2% vs. March 2012 and is up 1.7% year-to-date.
    Total European shipments of Coated Woodfree declined 9.9% vs. March 2012 and is down 4.9% year-to-date.
    Total European shipments of Uncoated Woodfree declined 10.6% vs. March 2012 and is down 4.7% year-to-date.
  • Ahlstrom interim report January-March 2013

    Packaging News, |

    4/25/2013 12:00:00 AM

    Continuing operations January-March 2013 compared with January-March 2012
    •Net sales EUR 255.3 million (EUR 260.3 million).
    •Operating profit EUR 8.3 million (EUR 10.7 million).
    •Operating profit excluding non-recurring items EUR 6.5 million (EUR 10.6 million).
    •Operating margin excluding non-recurring items 2.5% (4.1%).
    •Profit before taxes EUR 4.0 million (EUR 6.0 million).
    •Earnings per share EUR 0.05 (EUR 0.06).

    January-March 2013 in brief
    •Net sales and profitability improved from the weak fourth quarter of 2012, but remained below the comparison period.
    •Ahlstrom entered into a collaboration agreement with Dow Water & Process Solutions (DW&PS), a business unit of the Dow Chemical Company, on using Ahlstrom's Disruptor® technology in drinking water applications.
    •The company made changes to its financial segment reporting as of January 1, 2013 as the former Filtration business area was divided into two separate segments: Advanced Filtration and Transportation Filtration. In addition, a new reporting segment called Trading and New Business, has been added.

  • RR Donnelley Reports First-Quarter 2013 Results

    Printer News, |

    4/25/2013 12:00:00 AM

    R.R. Donnelley & Sons Company today reported financial results for the first quarter of 2013.
    Highlights:
    • First-quarter 2013 net sales of $2.5 billion grew 0.5% from the first quarter of 2012
    • U.S. Print and Related Services segment net sales declined 0.5%
    • International segment net sales grew 3.5%
    • Organic net sales decline of 1.2% reflects improvement in trend from the previous five quarters
    "Our first-quarter results allow us to reaffirm our full-year guidance for revenue, margin and free cash flow," said Thomas J. Quinlan III, R.R. Donnelley's President and Chief Executive Officer. "We continue to focus our efforts to drive free cash flow, and remain committed to our targeted gross leverage range of 2.25x to 2.75x on a long-term sustainable basis."

    Net sales in the quarter were $2.5 billion, up $13.6 million, or 0.5%, from the first quarter of 2012 due to the impact of 2012 acquisitions and volume growth in the International segment. The first quarter of 2012 included an adjustment to accounts receivable for prior periods' overaccruals of rebates owed to certain customers that favorably impacted both sales and operating income by $19.8 million. After adjusting for the impact of this rebate adjustment, as well as the impact of acquisitions, changes in foreign exchange rates and pass-through paper sales, organic sales declined 1.2% from the first quarter of 2012 due to price erosion and volume declines in the U.S. Print and Related Services segment. Operating income in the first quarter of 2013 was $139.8 million, which was impacted by restructuring and impairment charges and acquisition-related expenses totaling $23.7 million, compared to operating income in the first quarter of 2012 of $121.4 million, which included restructuring and impairment charges and acquisition-related expenses totaling $50.3 million.

    First-quarter 2013 net income attributable to common shareholders was $27.1 million, or $0.15 per diluted share, compared to net income of $37.4 million, or $0.21 per diluted share, in the first quarter of 2012. First-quarter 2013 net income attributable to common shareholders included $62.5 million in pre-tax charges for restructuring, impairment (non-cash), acquisition-related expenses, a loss on currency devaluation in Venezuela and a loss on debt extinguishment, while in the first quarter of 2012, net income attributable to common shareholders included $62.4 million in pre-tax charges for restructuring, impairment (non-cash), acquisition-related expenses and a loss on debt extinguishment. Additional details regarding the nature of these and other items are included in the attached schedules.

  • Clearwater Paper Reports First Quarter 2013 Results

    Packaging News, |

    4/25/2013 12:00:00 AM

    Clearwater Paper Corporation today reported financial results for the first quarter of 2013.

    The company reported net sales of $460.8 million for the first quarter of 2013, up 0.7% compared to $457.8 million for the first quarter of 2012. The GAAP net loss for the first quarter of 2013 was $(0.9) million, or $(0.04) per diluted share, compared to net earnings of $3.7 million, or $0.16 per diluted share, for the first quarter of 2012. The net loss included $17.1 million in debt retirement costs, $3.5 million in mark-to-market impact of directors' equity-based compensation expense, $0.2 million associated with the closing of the company's Thomaston, Georgia facility and a tax benefit of $9.8 million associated with converting gallons from Alternative Fuel Mixture Tax Credits (AFMTC) to Cellulosic Biofuel Producer Credits (CBPC). Excluding those items, first quarter 2013 net earnings were $2.4 million, or $0.11 per diluted share, on an after-tax basis. For first quarter 2012, excluding $1.0 million of expenses associated with the Metso litigation, $0.4 million benefit in mark-to-market impact of directors' equity-based compensation and a $5.7 million tax charge associated with converting gallons from CBPC to AFMTC, net earnings were $9.8 million, or $0.42 per diluted share, on an after-tax basis.

    Earnings before interest, taxes, depreciation and amortization, or EBITDA, was $34.6 million for the first quarter of 2013. Adjusted EBITDA of $38.3 million was down 16% as compared to first quarter 2012 Adjusted EBITDA of $45.8 million mainly due to lower consumer products margins, as discussed further below.

  • RR Donnelley to Withdraw Chicago Stock Exchange Listing, Retains NASDAQ Listing

    Printer News, |

    4/25/2013 12:00:00 AM

    R.R. Donnelley & Sons Company today announced plans to voluntarily withdraw the listing of its common stock from the Chicago Stock Exchange. RR Donnelley's common stock will continue to be listed on the NASDAQ Global Select Market.

    RR Donnelley has decided to withdraw its listing from the Chicago Stock Exchange to streamline operations and eliminate duplicative administrative requirements and costs inherent with dual listings. The withdrawal is expected to be effective within the next month.

    RR Donnelley does not believe that withdrawing its listing from the Chicago Stock Exchange will have any impact on the liquidity of its common stock. The Chicago Stock Exchange will continue to trade RR Donnelley common stock on an unlisted trading privilege basis.

  • Environmental group not satisfied with progress on Boreal forest

    Environmental News, |

    4/25/2013 12:00:00 AM
    A second environmental group has quit the Canadian Boreal Forest Agreement (CBFA), an agreement endorsed by forest industry and environmental groups to protect Canada’s Boreal forest. Saying “not one hectare of Canada’s Boreal forest has been protected,” forest conservation group Canopy announced its withdrawal mid-April. Another signatory of the agreement, Greenpeace, withdrew its support last December.
     
    Canopy’s press release says more meaningful and timely results for the Boreal forest can be achieved through its work helping to shape paper purchasing decisions.
     
    “This collaboration with the logging industry was supposed to be a game-­changer for the protection of species and conservation in Canada’s threatened Boreal forest,” said Nicole Rycroft, founder and executive director of Canopy. “The disappointing reality is that not one hectare of forest has been protected and species and ecosystems are still at risk.”
     
    She continued: “Canopy works with over 700 large corporate consumers of forest products and we will be informing them about the logging reality in Canada.”
     
    When Greenpeace withdrew from the CBFA last December, the president and CEO of the Forest Products Association of Canada, David Lindsay, said: “The CBFA is a very complex deal with a wider scope than any other agreement ever reached anywhere in the world. Progress has not been as fast as originally hoped but we fully intend to keep working with conservation groups and foundations as well as Aboriginals, communities and the federal and provincial governments until we get it done.”
  • Newfoundland prepared to loan Kruger $90 million

    Producer News, |

    4/25/2013 12:00:00 AM
    Newfoundland officials have confirmed that all or almost all of a $90 million business fund set aside in the provincial budget is destined to be a loan to Kruger’s Corner Brook mill. The terms of the potential loan have not been revealed.
     
    According to CBC.ca, the loan will kick in when the company finishes negotiations with labour unions at the mill.
     
    CBC.ca reports that Natural Resources Minister Tom Marshall said the loan to Montreal-based Kruger Inc. is a wise investment. “Corner Brook Pulp and Paper is a key employer and a strong contributor to the economy of this province," he said. “The mill is important not only to the west coast of Newfoundland but to the entire province."
  • Avery Dennison Announces First Quarter 2013 Results

    Producer News, |

    4/25/2013 12:00:00 AM

    Avery Dennison Corporation today announced preliminary, unaudited first quarter 2013 results. All non-GAAP financial measures referenced in this document are reconciled to GAAP in the attached tables. Unless otherwise indicated, the discussion of the company’s results is focused on its continuing operations, and comparisons are to the same period in the prior year. Results reflect classification of Office and Consumer Products (OCP) and Designed and Engineered Solutions (DES) as discontinued operations.

    First Quarter 2013 Results by Segment
    All references to sales reflect comparisons on an organic basis, which exclude the estimated impact of currency translation, product line exits, acquisitions and divestitures. Adjusted operating margin refers to earnings before interest expense and taxes, excluding restructuring costs and other items, as a percentage of sales.

    Pressure-sensitive Materials (PSM)
    PSM segment sales increased approximately 3 percent. Within the segment, Label and Packaging Materials sales increased low-single digits. Combined sales for Graphics, Reflective, and Performance Tapes increased slightly.

    Operating margin improved 20 basis points to 9.6 percent as the benefit of productivity initiatives and higher volume more than offset the impact of changes in product mix and higher employee-related expenses. Adjusted operating margin improved 30 basis points.

    Retail Branding and Information Solutions (RBIS)
    Sales increased approximately 6 percent driven by increased demand from U.S. and European retailers and brands, including another quarter of strong growth in RFID.

    Operating margin improved 210 basis points to 3.8 percent as the benefit of productivity initiatives and higher volume more than offset higher employee-related expenses. Adjusted operating margin improved 150 basis points.

  • Buckeye Technologies Inc. To Be Acquired By Georgia-Pacific LLC

    Packaging News, |

    4/25/2013 12:00:00 AM

    Buckeye Technologies Inc. and Georgia-Pacific LLC today announced that they have reached a definitive agreement for Georgia-Pacific to acquire all of the outstanding shares of Buckeye Technologies' common stock for $37.50 per share in cash.  The transaction, subject to completion, is valued at approximately $1.5 billion, including debt.

    Under the terms of the agreement, which has been unanimously approved by both companies' boards of directors, stockholders of Buckeye Technologies will receive $37.50 in cash per share, representing a premium of approximately 29 percent based on the average closing price of Buckeye Technologies' common stock over the last week.

    Georgia-Pacific expects to launch a cash tender offer for all outstanding shares of Buckeye Technologies' common stock.  The tender offer is subject to the expiration or termination of any waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, other regulatory approvals and other customary closing conditions, and requires at least 75 percent of the outstanding shares of Buckeye Technologies' common stock to be tendered, consistent with the threshold for approval of a merger specified in Buckeye Technologies' certificate of incorporation. The transaction is not conditioned on financing.  In certain circumstances, the parties have agreed to complete the transaction through a merger, subject to receipt of stockholder approval.

    Buckeye Technologies, based in Memphis, Tenn., is a leading manufacturer and marketer of specialty fibers and nonwoven materials made from wood and cotton.  The company's manufacturing assets include a specialty pulp mill at Perry, Fla.; cotton cellulose mills at Memphis, Tenn., and Lumberton, N.C.; and mills producing nonwovens at Mt. Holly, N.C., and Steinfurt, Germany.   Buckeye Technologies also has global sales offices in Beijing, the United Kingdom, France, Italy and Switzerland.  The company has approximately 1,200 employees worldwide.

  • Cabela's Inc. Reports Record First Quarter 2013 Results

    End User News, |

    4/25/2013 12:00:00 AM

    Cabela's Incorporated today reported strong financial results for first quarter fiscal 2013.

    For the quarter, total revenue increased 28.7% to $802.5 million; Retail store revenue increased 41.0% to $486.7 million; Direct revenue increased 18.4% to $225.2 million; and Financial Services revenue increased 2.8% to $85.8 million. For the quarter, comparable store sales increased 24.0%. For the quarter, net income increased 72.9% to $49.8 million compared to $28.8 million in the year ago quarter, and earnings per diluted share were $0.70 compared to $0.40 in the year ago quarter.

    "First quarter results exceeded our expectations on every line of the income statement," said Tommy Millner, Cabela's Chief Executive Officer. "In addition to expected increases in firearms and ammunition sales, we saw particularly strong performance in softgoods and footwear. Revenue increases in the latter part of March were stronger than anticipated, which allowed us to outperform our March 12th earnings pre-announcement."

    "We are particularly pleased with the broad strength we saw in comparable store sales," Millner said. "Comp store sales increased in all stores and in 10 of 13 merchandise subcategories. In addition to firearms and ammunition, we realized particularly strong growth in softgoods, footwear, optics and archery. Excluding firearms and ammunition, comp store sales increased 9%."

    "In addition to the strong performance in our Retail segment, we are very pleased with the strong growth in our Direct channel," Millner said. "We are still in the early stages of our Direct business turnaround and are encouraged with the early results of our omni-channel marketing initiatives and print-to-digital transformation. Our new advertising campaign has been extremely well received and provides a very deep emotional connection with our customers. As we look forward, we expect further refinements in site content, navigation and overall experience to further benefit our now growing Direct business."

  • WTI Trades Near Two-Week High; Discount to Brent Shrinks

    Miscellaneous News, |

    4/25/2013 12:00:00 AM

    West Texas Intermediate crude was little changed near its highest closing level in two weeks amid signs of stronger gasoline demand. The benchmark’s discount to Brent shrank to less than $10 a barrel, the lowest in 15 months.

    Futures pared an earlier increase of as much as 0.6 percent in New York after Spanish unemployment rose more than economists forecast in the first quarter. The U.S. Energy Department said yesterday that gasoline inventories shrank by 3.93 million barrels last week, the most in a year and a bigger contraction than the 600,000-barrel drop estimated in a Bloomberg survey.

    “It looks like the market is seeking to consolidate,” said Andrey Kryuchenkov, an analyst at VTB Capital in London. “Things will get more interesting ahead of the summer driving season as refinery rates gain.”

    WTI for June delivery rose as much as 55 cents to $91.98 a barrel in electronic trading on the New York Mercantile Exchange and was at $91.73 at 11:44 a.m. London time.

  • Meredith Delivers Strong Fiscal 2013 Third Quarter And Nine Month Results

    End User News, |

    4/25/2013 12:00:00 AM

    Meredith Corporation, the leading media and marketing company serving American women, today reported fiscal 2013 third quarter earnings per share of $0.65, compared to $0.47 in the prior-year period.  Excluding special items in both periods, fiscal 2013 third quarter earnings per share grew 9 percent to $0.72, compared to $0.66 in the prior-year period.  Total Company revenues rose 7 percent to $370 million.

    For the first nine months of fiscal 2013, Meredith's earnings per share were $2.00, compared to $1.65 in the prior-year period.  Excluding special items in both periods, earnings per share rose 18 percent to $2.17, compared to $1.84 in the prior-year period.  Total Company revenues increased 8 percent to $1.1 billion, including an 11 percent increase in advertising revenues.  Cash flow from operations increased 7 percent to $113 million.

    "Our diversified business model delivered solid growth in revenues, operating profit and cash flow for the third quarter and first nine months of fiscal 2013," said Meredith Chairman and CEO Stephen M. Lacy.  "And we continued to demonstrate our ongoing commitment to Total Shareholder Return by raising our dividend 7 percent, our 20th straight annual dividend increase."

    Lacy noted the following fiscal 2013 third quarter business highlights:
    • National Media Group advertising revenues increased 5 percent, driven by the recent acquisitions of the Allrecipes, EveryDay with Rachael Ray and FamilyFun brands.  Circulation revenues also increased, benefitting from growth at comparable titles; contributions from EveryDay with Rachael Ray and FamilyFun magazines; and a test issue of a magazine based on the Allrecipes brand. 
    • Local Media Group non-political advertising revenues were slightly lower than the prior year.  However, automotive advertising, the largest category, increased 6 percent.  Total revenues also benefitted from an increase in retransmission fees.  
    • Total Company digital advertising revenues grew 45 percent and reached a record high for a fiscal third quarter, driven by strong performance in the National Media Group. 
    • Consumer engagement strengthened across all of Meredith's media platforms.  Meredith magazine readership is at an all-time high of 116 million, while Meredith's local television station group delivered strong performance during the February ratings period.  Traffic to Meredith's websites rose approximately 40 percent to 40 million average monthly unique visitors.

  • Silgan Announces First Quarter Earnings and Confirms Full Year 2013 Estimate

    Packaging News, |

    4/24/2013 12:00:00 AM

    Silgan Holdings Inc., a leading supplier of rigid packaging for shelf-stable food and other consumer goods products, today reported first quarter 2013 net income of $25.4 million, or $0.38 per diluted share, as compared to first quarter 2012 net income of $32.8 million, or $0.47 per diluted share. Adjusted net income per diluted share was $0.46 for the first quarter of 2013 as compared to $0.51 for the first quarter of 2012, after adjustments increasing net income per diluted share by $0.08 for the first quarter of 2013 and $0.04 for the first quarter of 2012. A reconciliation of net income per diluted share to “adjusted net income per diluted share,” a Non-GAAP financial measure used by the Company, which adjusts net income per diluted share for certain items, can be found in Tables A and B at the back of this press release.

    Net sales for the first quarter of 2013 were $795.7 million, an increase of $27.3 million, or 3.6 percent, as compared to $768.4 million in 2012. This increase was the result of an increase in net sales in the metal container and plastic container businesses, slightly offset by a decrease in net sales in the closures business.

    Income from operations for the first quarter of 2013 was $58.1 million, a decrease of $7.7 million, or 11.7 percent, as compared to $65.8 million for the first quarter of 2012, and operating margin decreased to 7.3 percent from 8.6 percent for the same periods. The decrease in income from operations was attributable to lower income from operations in the metal container and closures businesses, partially offset by an increase in income from operations in the plastic container operations. Income from operations for the first quarter of 2013 included the recognition of a charge of $3.0 million in selling, general and administrative expenses for the remeasurement of net assets in the Venezuela operations due to a currency devaluation, rationalization charges of $1.4 million and plant start-up costs of $0.8 million. Income from operations for the first quarter of 2012 included rationalization charges of $3.6 million and plant start-up costs of $1.0 million.

    Interest and other debt expense before loss on early extinguishment of debt for the first quarter of 2013 was $15.3 million, a decrease of $0.3 million as compared to 2012. Loss on early extinguishment of debt of $2.1 million was a result of the prepayment of $300.9 million of term debt under the senior secured credit facility.

    The effective tax rate was 37.5 percent and 34.7 percent for the first quarter of 2013 and 2012, respectively.

  • Packaging Dynamics Agrees to Sell Thilmany Papers to KPS Capital Partners

    Packaging News, |

    4/24/2013 12:00:00 AM

    Packaging Dynamics Corp. yesterday announced the signing of a definitive agreement to sell its Thilmany Papers business unit to a new company to be formed and controlled by investment funds sponsored by KPS Capital Partners L.P. ("KPS").

    Terms of the deal were not disclosed.

    Wausau Paper has previously announced that it had signed a non-binding Letter of Intent to sell its Specialty Paper business to this new company being formed by KPS.

    Following the closing of these transactions, the new company will include Thilmany Papers' Nicolet and Kaukauna mills and Wausau Paper's Mosinee and Rhinelander mills, all of which are located in Wisconsin, as well as the output of Verso Paper's number five paper machine in Jay, Maine.

    Roger Prevot, CEO of Packaging Dynamics, commented, "This is truly an extraordinary opportunity to contribute our Thilmany Papers business to form a larger specialty papers company that will deliver lasting value to customers, employees and to the communities in which it operates, and for us to focus exclusively on our attractive downstream packaging and converting businesses."

  • Mohawk Expands Digital Portfolio

    Producer News, |

    4/24/2013 12:00:00 AM
    Mohawk introduces 68 new digital synthetic products engineered specifically for dry toner presses to the Digital Substrate line.
     
    Print work will shine on Mohawk synthetic products, which are engineered and quality checked to provide unmatched printability, opacity, toner adhesion and image vibrancy.
     
    Mohawk’s synthetic products are tough and durable, yet flexible like paper. Now available in a wide range of sheet sizes, weights, finishes, colors and pre-perforated shapes, the new products are tear resistant and weatherproof.
     
    All new Mohawk synthetic products are engineered and compatible to run on a variety of Xerox, Ricoh, Konica Minolta, Canon, Kodak and other digital presses. Mohawk Synthetics save printers time and money by reducing the need for costly and time-intensive lamination processes.
     
    Mohawk synthetic products are ideal for applications which require a high level of durability, such as menus, manuals, maps, ID cards/badges parking passes, road race bibs, outdoor tags/signage, all weather manuals, luggage tags, POP displays, table tents, and more.
  • Bonnier Releases Consecutive Consolidated Media Reports

    End User News, |

    4/24/2013 12:00:00 AM

    Bonnier Corp. has become the first major multi-title consumer publishing company to release consecutive Consolidated Media Reports (CMRs) in successive six-month periods. This report format allows magazines to present buyers with transparent metrics for all of their brand channels. Bonnier, in conjunction with the Alliance for Audited Media (formerly the Audit Bureau of Circulations), has released new numbers for its five major Men’s Group titles — Field & Stream, Outdoor Life, Popular Photography, Popular Science and Cycle World.

    In all, 10 Bonnier brands released CMRs in 2012. The other participating Bonnier titles include: Saveur, TransWorld SKATEboarding, TransWorld SNOWboarding, TransWorld SURF and TransWorld Motocross. Popular Science was the first consumer magazine in the industry to produce a Consolidated Media Report, in October 2011.
     
    All of the Bonnier reports are structured similarly, with data that covers: •Total average print and digital circulation
    •Website page views and unique visitors
    •Twitter and Facebook users
    •E-newsletter deliveries
    •iPhone app downloads and page views

    The newly released CMRs showcase data from the second half of 2012. Reports released in fall 2012 covered data from the first half of 2012 and marked the first time audits were released for all five Men’s Group titles. Bonnier has provided — and independently audited — the full range of media exposure for these brands for the year 2012.

  • DMA Urges Senate To Reject Online Tax Bill

    End User News, |

    4/24/2013 12:00:00 AM

    A proposed Internet tax bill will “hinder economic growth and job creation,” the Direct Marketing Association said Tuesday in a new letter to the Senate.

    “The bill makes complex changes to the economy while leaving many important questions unanswered -- putting both businesses and consumers in harm’s way,” the DMA argues. “The Senate should hold states accountable before granting them expansive new tax powers and we respectfully request that you vote against any Internet sales tax proposal that does not include reasonable simplification requirements.”

    If passed, the Marketplace Fairness Act (S. 743) will empower state governments to require out-of-state retailers with at least $1 million in sales revenue to collect tax from consumers. Supporters say the law will help brick-and-mortar stores to compete with online retailers.
     
    Currently, brick-and-mortar stores must collect state sales tax, but out-of-state retailers need not do so unless they have an in-state presence, like a storefront. Consumers are supposed to self-report their online purchases and pay sales taxes, but observers are skeptical that it's done.

    On Monday, the Senate voted 74-20 to close debate on the bill, paving the way for it to move to a vote. The law is supported by Amazon and a host of big retailers with brick-and-mortar presences, but opposed by eBay and other groups.

    The DMA argues that the Senate shouldn't move forward without more extensive hearings. “They're moving with unnecessary haste,” says Ron Barnes, DMA vice president of state affairs. He says the DMA is concerned that the law lacks the kinds of provision that would make it easier for businesses to calculate state and local sales tax. “The bill doesn't require the necessary level of simplification in state sales tax collection and administration.”

  • Portucel Reports Q1-2013 Results

    Producer News, |

    4/24/2013 12:00:00 AM

    The first quarter of 2013 saw a widespread slowdown in industrial output and consumption in Europe. The pulp and paper sector was not immune to this trend, with significant reductions in orders and deliveries of paper.

    In this particularly harsh environment, the Portucel Group recorded turnover of € 356.9 million, up by 1.1%, thanks in part to improved performance in pulp business, in terms of both quantities sold and prices, and also to an increase in the value of energy sales, as a result of including the business of Soporgen – Sociedade Portuguesa de Produção de Electricidade e Calor, SA, the company operating the natural gas cogeneration plant at the Figueira da Foz industrial site, in which the Group increased its holding to 100% as from January this year.

    Over the course of the quarter, despite expectations to the contrary, the trend in the bleached eucalyptus pulp (BEKP) market was positive, with two price rises and a third increase announced in April, due to take effect in May. As a result, the FOEX – BHKP index in USD for the first quarter stood at a level close to 13% higher than the price recorded in the first quarter of 2012. After exchange rate adjustment, the growth in Euros is approximately 12%. In terms of the sales volume, the trend was also positive, with the Group recording an increase of over 4%. Rising prices, combined with growth in volume sold, led to significant growth in the value of pulp sales in comparison to the first quarter of 2012.

    In the uncoated woodfree paper (UWF), as already indicated, the business environment was harsher, with the main market indicators all showing substantial reductions in both consumption and the level of orders. Consequently, although paper output held steady in relation to the same period in the previous year, the sales volume was down by around 5%. As happens at the end of every year, the Group ended 2012 with very low levels of stocks at its mills and in the supply chain, meaning that stocks had to be replaced, which also had an effect on the sales volume. In terms of prices, the Foex B-copy index edged downwards over the period, standing on average at a level of 0.5% lower than the average for the first quarter of 2012, and down over the period by 1.6%. The Group's average price performed better, practically unchanged over the quarter.

  • FedEx Signs New Express Air Transportation Agreement With United States Postal Service

    End User News, |

    4/24/2013 12:00:00 AM

    FedEx Corp. today announced that its FedEx Express subsidiary has entered into a new express air transportation contract with the United States Postal Service. The current contract ends in September 2013, and the new contract will begin in October 2013.

    Under this seven-year agreement, valued at approximately $10.5 billion, FedEx Express will provide airport-to-airport transportation of USPS Express Mail and Priority Mail within the United States.

    “FedEx Express will continue the outstanding service that we have provided to the USPS for the past 12 years under this new agreement,” said David J. Bronczek, president and chief executive officer of FedEx Express. “This contract provides enhanced value and additional flexibility allowing the USPS to respond to possible changes.  We look forward to continuing our successful business relationship with the USPS.”

  • Email Pioneer Says the United States Postal Service Must Survive

    End User News, |

    4/24/2013 12:00:00 AM
    One of the people responsible for the proliferation of electronic mail, a man truly hailed as one of the “Fathers of the Internet,” told attendees at Postal Vision 2020 today that he considers the United State's Postal Service's brand of physical delivery as fundamental to a democratic society.
     
    “It's  a national infrastructure like schools, public roads, water supply, electricity, and telecommunications,” said Google VP and Chief Internet Evangelist Vint Cerf, who helped introduce commercial email as a tech strategist at MCI in 1983. “I think it's utterly incumbent on all of us to figure out how to retain this very important infrastructure.”
     
    Cerf's remarks were delivered during the opening session of Postal Vision 2020, a Washington, DC, convocation of postal regulators, policy makers, businesspeople, and academics exploring ways to keep the beleaguered USPS in business for the next decade and beyond. The first panel discussion, which included Cerf and was moderated by Weber Shandwick founder Larry Weber, elicited questions from the floor from current USPS Inspector General David C. Williams and Yale Law School Professor Judith Resnik.
     
    But it was Cerf who drew murmurs of approval from those assembled when he said that the Postal Service's current predicament was the fault of a Congress that had “set them up as a quasi-private sector business and then tied their arms behind their backs.”
  • Catalyst Paper issues 10th sustainability report

    Producer News, |

    4/24/2013 12:00:00 AM
    Catalyst Paper has released its tenth sustainability report as an early adopter of this voluntary disclosure practice  more than a decade ago. Titled “Our Tomorrow Starts Today”, the report covers calendar 2012 and was produced using Global Reporting Initiative Guidelines (B-level application). It also serves as Catalyst’s Communication on Progress as a signatory to the United Nations Global Compact.
     
    “We aim to present a balanced picture of issues that affect our performance and that interest our stakeholders,” said Lyn Brown, vice-president marketing and corporate responsibility. “Paper was the first widely used interactive medium and transparency has been at the core of our operating philosophy since well before the first tweet was sent.”
     
    The report covers a pivotal year for Catalyst, during which a major financial restructuring was completed under creditor protection.
     
    “The fact that we kept up our reporting commitment under these conditions indicates how deeply rooted sustainability is in our way of doing business,” said Brown. “Our report acknowledges the challenges we faced. And it tells the story of the strategy and stakeholder contributions that ‘brought the pieces together’ and got us to a successful outcome,” she said.
  • WTI Crude Climbs to One-Week High After U.S. Supply Drop

    Miscellaneous News, |

    4/24/2013 12:00:00 AM

    West Texas Intermediate crude advanced to the highest in more than a week amid speculation that the European Central Bank will cut its key interest rate to a record low next week.

    Futures increased as much as 0.9 percent in New York to the highest intraday price since April 15. Banks including UBS AG and Royal Bank of Scotland Group Plc (RBS) expect a rate reduction for May. U.S. crude stockpiles fell 845,000 barrels last week, the American Petroleum Institute said yesterday. Analysts in a Bloomberg survey before the API report had forecast government data today to show supplies climbed 2 million barrels to the most in 22 years, according to a Bloomberg News survey.

    “Markets seem to think an ECB rate cut will solve Europe’s problems,” Michael Hewson, an analyst at CMC Markets Plc in London, said by e-mail. “Expectations of lower inventories could also be underpinning prices.”

    WTI for June delivery rose as much as 76 cents to $89.94 a barrel in electronic trading on the New York Mercantile Exchange and was at $89.86 at 10:56 a.m. London time.

  • BASF to strengthen competitiveness of its Performance Products segment

    Miscellaneous News, |

    4/24/2013 12:00:00 AM

    BASF is taking a number of steps to strengthen the competitiveness of its Performance Products segment. The segment bundles BASF’s businesses with chemicals that improve the properties of many different end-user products. The portfolio includes ingredients for personal care, cosmetics, pharmaceuticals, plastic additives, pigments and paper chemicals as well as chemicals used in oil and gas production and mining. In some market segments, increasing standardization and the entry of new competitors have changed the business environment significantly. This especially applies to the markets for plastic additives and pigments as well as for water, leather and textile chemicals.

    BASF aims to adapt its businesses to the changed market environment and significantly increase competitiveness in the coming years by streamlining processes, investing in new technologies and adjusting its portfolio and its organizational setup. The currently planned measures will lead to a reduction of about 500 positions worldwide by the end of 2015.

    “The expansion of our specialty business in the Performance Products segment made us more robust to economic fluctuations. However, the growth and profitability of the standard products do not yet meet our requirements. We have therefore identified numerous measures which we are implementing step by step. Further measures are being analyzed,” said Michael Heinz, member of the Board of Executive Directors of BASF SE and responsible for the Performance Products segment.

  • After Launching in Digital, Haute Time Rolls Out Print Mag

    End User News, |

    4/24/2013 12:00:00 AM

    Courting a digital audience before introducing a print product is becoming a much more common practice by content publishers, and a strategy that new enthusiast magazine Haute Time is betting on. The new 50,000-circ, biannual pub launched on Monday and is hoping to tap the power of social, celebrity and digital as a blueprint for success.
     
    In April 2012 Haute Media Group introduced a group of niche sites focused on the luxury consumer demographic as a spin off to its Haute Living magazine; the media network includes sites HauteTime, HauteAuto, HauteResidence, HauteYatchs and HauteFashionDaily.

    With this new print product the company has tapped NBA basketball player and New York Knick Carmelo Anthony as a co-founder—giving the brand unique access to the star’s millions of social followers.
     
    “Unlike most magazines that launch in print first, we launched in a digital format first,” says co-publisher Seth Semilof. “The brand’s first cover mogul and business strategist Tony Robbins linked the magazine to his 3 million followers and Carmelo linked to his 5 million followers. The first day alone we had more readers read the book digitally than we’ll have in print—we’re printing 50,000 copies and we had over 50,000 people read the magazine online on the first day alone.”
     
    Anthony has helped the brand leverage social media—he posts a “Watch of the Day” on Instagram to his more than 1 million followers to build buzz, he tweeted a link to the digital magazine to his more than 3.1 million followers, and shared it with his more than 2.3 million Facebook fans.

  • RockTenn Reports Second Quarter Fiscal 2013 Results

    Producer News, |

    4/24/2013 12:00:00 AM

    RockTenn today reported earnings for the quarter ended March 31, 2013 of $4.45 per diluted share and adjusted earnings of $1.12 per diluted share. Adjusted earnings per share increased 15% over the prior year quarter.

    Net sales of $2,325 million for the second quarter of fiscal 2013 increased $42 million compared to the second quarter of fiscal 2012. Segment income of $174 million increased $10 million or 6% over the prior year quarter adjusted to eliminate $7 million of pre-tax losses in the prior year quarter due to our Matane, Quebec containerboard mill.

    RockTenn’s income tax benefit during the quarter was primarily due to the reversal of previously established tax reserves of $254 million relating to alternative fuel mixture credits acquired in the Smurfit-Stone Acquisition following the Internal Revenue Service's completion of its examination of the Smurfit-Stone 2009 tax return.

    RockTenn’s restructuring and other costs and operating losses and transition costs due to plant closures were $0.14 per diluted share after-tax, for the second quarter of fiscal 2013. These costs consisted primarily of $8 million of pre-tax facility closure charges and $4 million of pre-tax integration costs.

  • O-I Reports First Quarter 2013 Results

    Packaging News, |

    4/24/2013 12:00:00 AM

    Owens-Illinois, Inc. today reported financial results for the first quarter ending March 31, 2013.

    Highlights
    • First quarter 2013 earnings from continuing operations attributable to the Company were $0.48 per share (diluted), compared with $0.73 per share in the same period of 2012.  Excluding certain items management considers not representative of ongoing operations, adjusted earnings[1] were $0.60 per share, compared with $0.73 per share in the prior year.
    • Higher operating profits in South America and Asia Pacific were more than offset by lower results in Europe. South America benefited from volume growth and logistics savings from a new furnace brought online in Brazil in late 2012. As expected, European operating profit was adversely impacted by lower demand and efforts to normalize production levels over the course of 2013.
    • Price and product mix increased 2 percent year on year, with gains reported in all regions. Price increases covered cost inflation.

    Net sales in the first quarter of 2013 were $1.64 billion, down from $1.74 billion in the prior year first quarter. Currency translation adversely impacted sales by 2 percent. Volume, in terms of tonnes shipped, decreased by 5 percent year-over-year. The decline in volume was most pronounced in Europe, due to difficult macroeconomic conditions, the absence of major sporting events that occurred in the prior year and the share shift to smaller competitors in response to the Company's pricing strategy in 2012. South America reported modest volume growth, driven by food packaging. Sales prices globally were up 2 percent, with successful price initiatives reported in all regions.

    In the first quarter of 2013, segment operating profit was $226 million, down from $260 million in the prior year. The Company curtailed production, particularly in Europe, as part of an initiative to reduce production volatility over the course of the year. This led to lower absorption of fixed costs, and therefore lower profitability, relative to the comparable period in the prior year. The Company expects improved profitability from this initiative in the latter half of the year. Structural cost reductions partially compensated for the adverse impact of lower production and sales volume.

  • NewPage Celebrates Twenty-Five Years Of UniTherm® Thermal Transfer Label Paper Technology

    Packaging News, |

    4/24/2013 12:00:00 AM

    NewPage Corporation (NewPage) announced today the twenty-fifth anniversary of  UniTherm®, a family of pressure sensitive thermal transfer label papers designed and manufactured by its specialty papers product area. UniTherm is used in logistics and inventory control systems worldwide, supporting rapid capture and transmittal of thermal transfer-printed variable information and barcode data that is an essential component of modern track-and-trace shipment and just-in-time inventory systems.

    UniTherm was developed in 1988 as a solution for item-level barcode labeling offered by new computerized shipping and inventory management systems. "Barcode labels revolutionized the movement and tracking of products in virtually all industries," said Ed Buehler, vice president, specialty papers for NewPage. "UniTherm has been instrumental in enhancing the velocity and accuracy of supply chain logistics."

    Over the last 25 years, UniTherm has evolved, keeping pace with advancements in printer and printer ribbon technologies and the rapid growth of integrated global logistics systems.  "UniTherm created a new generation of label papers designed for reliable performance over time in harsh environments," said Buehler. "This innovation tradition continues today as UniTherm remains the industry standard for thermal transfer papers."

    The UniTherm family includes basis weight offerings from 40 lb. (65gsm) to 50 lb. (81gsm) – each optimized for pressure sensitive thermal transfer printing.

  • Gannett Co., Inc. Reports 57% Increase in First Quarter Earnings per Diluted Share

    End User News, |

    4/24/2013 12:00:00 AM


    Highlights for the quarter include the following year-over-year comparisons:

    Local domestic circulation revenue up 14 percent; fourth consecutive quarter of growth
    Broadcasting revenue accelerates 9 percent
    Company-wide digital revenue growth of 29 percent
    35 percent increase in Digital segment operating cash flow; 14 percent increase in Broadcasting operating cash flow 

    Total revenues for the company were 1.6 percent higher in the first quarter compared to the first quarter in 2012 and totaled $1.24 billion reflecting revenue increases of 8.7 percent and 3.9 percent in the Broadcasting and Digital segments, respectively. Publishing segment revenues were relatively unchanged as the positive results of the all access content subscription model and digital marketing services were offset by softer advertising demand.

    Net income attributable to Gannett in the first quarter of 2013 totaled $104.6 million. Net income attributable to Gannett on a non-GAAP basis (which excludes the special items) was $86.0 million, an increase of 6.5 percent.

  • Discover Financial Services Reports First Quarter Net Income of $673 Million

    End User News, |

    4/24/2013 12:00:00 AM

    Discover Financial Services today reported net income of $673 million or $1.33 per diluted share for the first quarter of 2013, as compared to $650 million or $1.21 per diluted share for the first quarter of 2012. The company’s return on equity was 27%.

    The results for the quarter ending March 31, 2013 are compared with the results for the quarter ending March 31, 2012, which are presented on a calendar basis due to a change in the company's fiscal year end from November 30 to December 31.
     
    First Quarter Highlights
    Revenue net of interest expense was up $189 million, or 10%, from the prior year to $2.0 billion.
    Total loans grew $3.7 billion, or 7%, from the prior year to $60.4 billion.
    Credit card loans grew $2.4 billion, or 5%, to $48.7 billion and Discover card sales volume increased 4% from the prior year.
    Credit card loan delinquencies over 30 days past due reached a record low of 1.77%. Credit card net charge-off rate increased 5 basis points sequentially to 2.36%.
    Payment Services pretax income was down $1 million, or 2%, from the prior year to $47 million. Transaction dollar volume for the segment was $48.8 billion in the quarter, an increase of 2% from the prior year.

  • Xerox Reports First-Quarter 2013 Earnings

    End User News, |

    4/23/2013 12:00:00 AM

    Xerox announced today first-quarter 2013 adjusted earnings per share of 27 cents, which includes a 2-cent benefit from a reserve reduction related to recent litigation developments. Adjusted EPS excludes 4 cents related to amortization of intangibles, resulting in GAAP EPS of 23 cents.

    In the first quarter, total revenue of $5.4 billion was down 3 percent. Revenue from the company’s services business was up 4 percent and represents 55 percent of total revenue.

    “We delivered solid revenue growth in our services business along with a stable segment margin and a 64 percent increase in the total contract value of signings to $3.7 billion,” said Ursula Burns, Xerox chairman and chief executive officer.

    “While results in our services business align with our growth strategy and our expectations, challenges in our document technology business continued during the first quarter,” she added. Revenue from the company’s document technology business, representing 40 percent of total revenue, was down 9 percent, which had an adverse impact on segment margin as market conditions and the timing of a recent product platform launch put pressure on the sale of document systems, supplies and related services. In February, Xerox announced ConnectKeyTM, a software system embedded in 16 new Xerox multifunction printers, many of which began shipping in the second quarter.

    “We’re continuing to shift our business model to adapt to market trends by expanding indirect distribution and streamlining our supply chain and product portfolio,” said Burns. “These changes, along with implementing broader operational improvements across the company, will result in increased margins that will help us scale profitable revenue in services while maintaining strong market share in document technology.”

  • Walmart Highlights Sustainability Progress in its 2013 Global Responsibility Report

    End User News, |

    4/23/2013 12:00:00 AM
    Walmart today released its sixth annual Global Responsibility Report (GRR), titled “The Responsibility to Lead.” In addition to accomplishments and progress in the areas of social, company and environmental responsibility, the report highlights Walmart’s top achievements in 2012 to reduce its impact on the environment and improve efficiency in its stores, clubs, distribution centers and throughout the supply chain.
     
    “We believe our customers should not have to choose between affordability and sustainability,” said Andrea Thomas, Walmart’s senior vice president of sustainability. “The accomplishments we are sharing today represent Walmart’s focus on our customers, our business and our communities. We will continue to deliver on our commitment to operate responsibly while continuing to provide our customers around the world with everyday low costs.”
  • Stora Enso Interim Review January–March 2013

    Producer News, |

    4/23/2013 12:00:00 AM

    Q1 2013 (compared with Q1 2012)
    •Operational EBITDA EUR 240 (EUR 265) million.
    •Operational EBIT EUR 118 (EUR 150) million due to lower performance in Printing and Reading. Improvement in Biomaterials, Renewable Packaging and wood supply.
    •EPS excluding NRI EUR 0.07 (0.10) and EPS EUR -0.02 (0.09).
    •Cash flow from operations EUR 101 (EUR 223) million affected by working capital increase. Strong liquidity at EUR 1.7 (EUR 1.25) billion.

    Q1 2013 (compared with Q4 2012)
    •Operational EBITDA EUR 240 (EUR 276) million.
    •Operational EBIT EUR 118 (EUR 158) million due to lower performance in Printing and Reading. Improvement in Renewable Packaging and wood supply.
    •Ratio of net debt to the last twelve months’ operational EBITDA 2.7 (2.5).

    Actions and outlook
    •Final approvals to build plantation-based integrated board and pulp mills at Beihai city in Guangxi, China still pending.
    •Ostroleka containerboard machine PM 5 started up in January.
    •Montes del Plata Pulp Mill has initiated the commissioning of the main equipment and expects to begin the mill start-up process during Q3/2013.
    •Earlier announced restructuring plans progressing as planned in Printing and Reading. New plans announced to simplify and streamline Group and business structures aiming at reducing annual costs by EUR 200 million, including the earlier announced EUR 30 million in Building and Living.
    •Q2 2013 sales expected to be slightly higher and operational EBIT in line with or slightly higher than Q1 2013.

  • Stora Enso rethinks business structure and organisation

    Producer News, |

    4/23/2013 12:00:00 AM

    Stora Enso plans to launch a Group streamlining and structure simplification project intended to achieve annual fixed cost savings of EUR 200 million, including the earlier announced EUR 30 million in the Building and Living Business Area, with the full impact starting from the second quarter of 2014. The project is planned to include all Business Areas and corporate functions. In addition to reducing costs, the planned project would reduce interdependencies between businesses and enable a stronger focus on growth in value creating businesses.

    “We plan to clearly and decisively further reduce our fixed costs to revenue ratio not only to adjust to the decline in market demand, but also to clearly add resilience against the cyclical and structural changes in our revenue. The reality is that our European driven printed media markets have shrunk more than 20% since 2008, and there is no reason to believe that the structural change of the past five years in Europe will slow down or change direction in the foreseeable future,” says Stora Enso CEO Jouko Karvinen.

    It is planned to change from four Business Areas to three Divisions by integrating the current Building and Living Business Area with the Printing and Reading Business Area in a new Division mainly focusing on mature businesses and geographies. The other two Divisions would be the existing Renewable Packaging and Biomaterials Business Areas, which would remain as they are and concentrate on growth markets and businesses, as well as innovation.

  • Summit Natural Gas of Maine Reaches Service Agreement in Principle with Sappi Fine Paper North America

    Producer News, |

    4/23/2013 12:00:00 AM

    Summit Natural Gas of Maine and Sappi Fine Paper North America announced today an agreement in principle to establish natural gas service to the Somerset Mill in Skowhegan, Maine, in one of the largest natural gas distribution projects of its kind in the recent history of Maine. Summit's investment of $350 million in pipeline infrastructure will provide the mill access to efficient natural gas, supporting Sappi's low-cost position and commitment to sustainability well into the future.

    "The opportunity to utilize natural gas is essential to maintain the competitive cost position of our Somerset Mill and is another example of our investment in the State of Maine," said Mark Gardner, President and Chief Executive Officer, Sappi Fine Paper North America. "We look forward to working with Summit to establish access to clean, economical natural gas, which we foresee will ultimately reduce fuel costs, be better for the environment, and ensure the long-term profitability of our operations."

    The project, which is subject to regulatory and other approvals, consists of Summit constructing 88 miles of steel pipeline originating in Richmond, Maine and traveling up through the Kennebec Valley to Madison and Skowhegan. In addition to this proposed project with Sappi, Summit plans to serve 17 communities in the region upon total system build-out with the installation of approximately 1600 miles of polyethylene distribution pipeline. Sappi's firm participation in the project is subject to certain corporate capital approvals.

  • J.D. Irving, Limited Celebrates Earth Day with Eco-Friendly Initiatives

    Producer News, |

    4/23/2013 12:00:00 AM

    J.D. Irving, Limited (JDI) marks Earth Day every year by celebrating its employees’ day-to-day commitment to reducing the company’s environmental footprint.

    Across several of its divisions, JDI has made significant reductions in greenhouse gas emissions through a combination of investments in energy efficiency and fuel oil substitution programs.

    In the last five years, the company has reduced its oil consumption by 156 million litres and greenhouse gas emissions by 346,000 tonnes annually - the equivalent of taking 66,500 cars off the road.

    Some examples of JDI’s efforts in 2012 to reduce its footprint on air, land, and water:
    http://www.jdirving.com/article.aspx?id=4292

  • Sales tax bill advances after Obama offers support

    End User News, |

    4/23/2013 12:00:00 AM

    The U.S. Senate voted late today to move ahead with a debate on online sales tax legislation, and a vote on the bill could come this week. The vote followed President Barack Obama’s endorsement of the bill.

    The U.S. Senate voted 74 – 20 late today to move forward with a debate on a bill that would broadly increase the collection of online sales tax by Internet and catalog retailers. The bill could come to a final vote in the Senate later this week.

    Today's vote was almost identical to the Senate's vote last month on a nonbinding resolution that supported the sales tax bill.
     
    The vote followed the Obama Administration’s endorsement earlier in the day of the legislation before the Senate, known as the Marketplace Fairness Act, or Senate bill S. 743.
     
    “The Administration strongly supports S. 743, which will level the playing field for local small business retailers that are in competition every day with large out-of-state online companies,” the White House said in a statement.

  • Earth Day: Consumers Less Likely to Shell out Green on Organics

    Environmental News, |

    4/23/2013 12:00:00 AM

    More cash out of pocket doesn't necessarily equate to greener dispositions in consumers' minds, at least when it comes to organic foods.  That's the conclusion of a Harris Interactive poll of 2,276 adults conducted in anticipation of today's 44th celebration of Earth Day. Perhaps Americans emerged from the recession with a more cynical view: 59% of them agreed that marketers sometimes label products as organic to have an excuse to charge more for them.
     
    “Many are wary of the ‘greenwashing' concept that gives companies a chance to cash in on consumers who want to help the planet, but are confused by all the eco-friendly jargon,” said Harris Poll president Mike deVere in a press release.

    To break it down, more men (63%) than women (54%) questioned the motives of organic marketers, and folks in the Midwest and the South (61%) were more skeptical than Westerners (54%). Political partisanship, apparently, also plays a role in how much people trust organic brands. Nearly two thirds (65%) of Republicans said organic labeling was a scam, versus a little more than half of Democrats (54%).

  • BillerudKorsnas Interim Report January-March 2013

    Packaging News, |

    4/23/2013 12:00:00 AM

    Net sales amounted to SEK 5 132 million, compared to SEK 3 068 million in the previous quarter. The increase was due to the Korsnäs acquisition.

    Adjusted operating profit (excluding non-recurring items) reached SEK 432 million. The increase of SEK 305 million from the previous quarter is mainly attributable to the Korsnäs acquisition.

    Integration and realisation of synergies are progressing better than planned and synergies of SEK 77 million have been realised.

    Non-recurring costs of SEK 75 million have burdened the results for the quarter.

    “The first full quarter as the new BillerudKorsnäs has come to an end and the integration of the two companies is progressing very well. We have therefore increased the target with SEK 200 million for our integration program to approximately SEK 530 million in synergies, savings and increased efficiency. Non-recurring costs for realising the synergies and savings will increase to approximately SEK 200 million, but are clearly justified given the expected savings. The sales process of PM2 in Gävle is also progressing according to plan and we expect to be able to fulfill the requirements from EU concerning our acquisition of Korsnäs.
     
    Our adjusted operating profit for the quarter of SEK 432 million is in line with expectations given current environment. The currency situation with a very strong Swedish krona is putting high pressure on our operating profit and the negative impact quarter on quarter is SEK 68 million. Given the strong krona, it is pleasing to see that the integration generates positive savings effects beyond our initial expectations.

  • Houghton Mifflin Harcourt Acquires 25 Percent Stake in SchoolChapters, Inc.

    End User News, |

    4/23/2013 12:00:00 AM
    Global education leader Houghton Mifflin Harcourt (HMH) today announced the acquisition of a 25 percent stake in SchoolChapters, Inc., an educational solutions provider dedicated to standards-based education quality management, accreditation services and community-based resources for educators and learners. Chris Goodson, HMH’s Senior Vice President of Education Services Innovation, will join the Board of Directors, effective immediately.
     
    SchoolChapters provides both educators and learners with an innovative user-centered platform to record, share, and collect portfolios, showcase knowledge and achievements and to manage these against prominent educational standards across US colleges and the pre-K-12 spectrum.
     
    “The combination of SchoolChapters’ best-in-class quality management and accreditation services and HMH’s proven expertise and experience in educator development and assessment will provide both our companies with increased opportunities to develop nimble, effective cloud-based solutions for educators and learners from pre-K to adult education,” said Chris Goodson.
  • Packaging Corporation of America Reports Record First Quarter 2013 Results

    Packaging News, |

    4/23/2013 12:00:00 AM

    Packaging Corporation of America today reported record first quarter net income of $61 million, or $0.62 per share, compared to first quarter 2012 net income, excluding special items, of $41 million, or $0.42 per share. Net sales were a record $755 million, up 12% compared to first quarter 2012 net sales of $671 million.

    The $0.20 per share increase in earnings, excluding 2012 special items, was driven by higher containerboard and corrugated products prices and mix ($0.23), higher sales volume ($0.05) and lower recycled fiber costs ($0.01). These items were partially offset by higher costs including labor and benefits ($0.06), workers’ compensation ($0.01), energy ($0.01) and transportation ($0.01).

    Corrugated products shipments per workday were up 7.1% compared to last year’s first quarter, and total shipments were up 3.8% with two less workdays in this year’s first quarter. Outside sales of containerboard were equal to last year’s first quarter. Containerboard production was 646,000 tons, up 6,000 tons over the first quarter of 2012. PCA ended the quarter with its containerboard inventories about 3,000 tons above year-end levels.

  • Brent Drops for First Time in Four Days on European Woes

    Miscellaneous News, |

    4/23/2013 12:00:00 AM

    Brent crude fell for the first time in four days as euro-area services and manufacturing output contracted for a 15th month in April adding to concern that demand for oil will continue to fall in the region.

    Futures dropped as much as 1.6 percent in London as a Purchasing Managers’ index held at 46.5, Markit Economics said. That was in line with economists’ forecasts in a Bloomberg News survey. A reading below 50 indicates contraction. Earlier, the PMI index on China came in at 50.5, below analysts estimates, raising speculation that consumption will falter in the world’s second-biggest crude user.

    “We started the day with weak figures from China and then after that there were disappointing figures from the euro-zone, particularly from Germany,” Thina Saltvedt, an analyst at Nordea Bank AG, said by phone from Oslo today. “It seems like the Chinese economy is slowing down at the moment and it doesn’t seem the euro-zone is stabilizing as had been hoped.”

    Brent for June settlement fell as much as $1.61 to $98.78 a barrel on the ICE Futures Europe exchange. It was at $99.39 as of 11:15 a.m. local time.

  • Kohl’s Department Stores Releases 2012 Corporate Social Responsibility Report

    End User News, |

    4/23/2013 12:00:00 AM

    Kohl’s Department Stores has released its 2012 corporate social responsibility (CSR) report, providing updates on the company’s programs and accomplishments in sustainability, community relations and social compliance. The report is available for download on Kohl’s Investor Relations page under Corporate Governance and on KohlsGreen.com.

    “In 2012, we continued to evolve and grow many of our programs, furthering the company’s commitment to our communities, business partners and environmental responsibility,” said Kevin Mansell, Kohl’s chairman, president and chief executive officer. “From associate volunteer efforts to educating our supply chain partners about sustainable practices, Kohl’s and our associates are dedicated to making a positive difference. I am proud to share what we have accomplished and our plans for continued progress in the years ahead.”

    Sustainability: Kohl’s Cares®: Advancing Environmental Solutions: Kohl’s is committed to protecting and conserving the environment through solutions that promote long-term sustainability. Key strategies include supply chain collaboration, sustainable operations and stakeholder engagement.

  • Ahlstrom introduces Ahlstrom Captimax(TM), a new product for fuel filtration

    Producer News, |

    4/23/2013 12:00:00 AM

    Ahlstrom, a global high performance fiber-based materials company, launches today Ahlstrom Captimax(TM), a new best-in-class fuel media at the IDEA13 exhibition in the U.S. The product is suited for fuel filters in passenger and commercial heavy-duty vehicles and off-road machinery. Ahlstrom Captimax(TM) is also being evaluated for use in other applications such as hydraulic and fuel water separation.

    By using Eastman's Cyphrex(TM) microfibers, Ahlstrom has created media for a filter that allows manufacturers to obtain optimum micron efficiency ratings and dust holding capacity without making compromises.

    Ahlstrom Captimax(TM) provides a balance of excellent small-particle retention and the potential for longer product life. The media also lets fuel filtration system suppliers maintain existing capacity levels but decrease the product size. In addition, the media can allow for increased efficiency with better options to filter fine particles to protect fuel injectors in vehicles and machines. Ahlstrom Captimax(TM) provides high efficiency allowing engines to perform at their maximum.

  • UPM's Accident Frequency Dropped an Exceptional 40% Within One Year

    Producer News, |

    4/22/2013 12:00:00 AM

    UPM has achieved exceptional success with its workplace safety initiative which was launched at the beginning of 2012. Within a year since the beginning of the Step Change in Safety 2012–2014 initiative UPM’s global Lost Time Accident Frequency (LTAF) decreased by an amazing 40 percent.

    The safety initiative had two goals: to achieve world class safety results within three years and to prevent any fatal accidents at UPM premises.

    “40 percent less accidents at work is a great improvement. The development was positive in all business areas and at the end of the year 2012 nine production units out of UPM’s total of 68 achieved more than one year without any lost time accidents. We are proud of the excellent results of the campaign but the work still continues. Our final target level has not been achieved yet,” says Jussi Pesonen, CEO of UPM.

    The change started with engaging the leaders and led to safer ways of working in all levels of the organization. Key factors in the success of the initiative have been securing the needed resources and the visibility of the initiative. The change is steered with common corporate standards and company-wide safety key performance indicators, which include leading indicators like reporting near-misses, safety observations and safety walks. Safety awards and incentives have been introduced to reward success and improvement in safety performance.

  • Penguin Close to Ending DoJ, EU Price-fixing Suits

    End User News, |

    4/22/2013 12:00:00 AM

    Penguin is several steps closer to resolving e-book price fixing charges in the U.S. and in the European Union. Thursday, the Department of Justice filed a motion with Judge Denise Cote asking her to approve the final judgment against Penguin, which has until May 3 to file any counter papers. In the EU, the European Commission said Penguin had agreed to changes in e-book pricing that pave the way for a settlement with the company.

    The motion made by the DoJ was no surprise since the government and Penguin had reached an agreement in the case that largely followed settlements reached with Hachette, Simon & Schuster and HarperCollins. The government has since complied with the procedures to get a final judgment, including a public comment period that yielded three responses. Once Judge Cote approves the agreement, the terms will apply to the merged Penguin Random House company once that deal is finalized.

    In the EU, Penguin has been the lone holdout in settling with the commission. While Hachette, S&S, Macmillan, HC and Apple agreed to settle, Penguin had held out, but, the commission said in a statement released Friday, “following constructive discussions with the Commission, Penguin recently offered commitments with a view to seeking an early closure of the proceedings.” In a statement, Penguin reiterated it had done nothing wrong, but said to clear the way for the Random House merger it had agreed to settle. "Penguin confirms that, subject to the market test currently underway, it has reached an agreement with the European Commission to settle its investigation into the establishment of agency pricing agreements for eBooks. Penguin’s position that it has done nothing wrong remains unchanged and the company continues to believe that the agency pricing model operates in the best interests of consumers and authors. While we disagree with some elements of the Commission’s analysis, we are settling as a procedural matter to clear the decks in anticipation of our proposed merger with Random House."

  • Restoration Hardware swings to loss in Q4, but edges forecasts

    End User News, |

    4/22/2013 12:00:00 AM
    Restoration Hardware Holdings Inc. reported Friday a loss of $28.4 million for the quarter ended Feb. 2, compared with a profit of $24 million in the year-ago period. Results, impacted by costs associated with the company’s November 2012 IPO, edged analysts’ expectations.
     
    Revenue surged 30% to $398.1 million from $305.2 million last year, beating Wall Street’s forecast of $390.5 million. Same-store sales advanced a hefty 26%.
     
    The company has rebranded itself as RH and has moved its focus from Americana goods to high-end furnishings – a move the retailer says will pay off.
     
    "We are well positioned to continue to gain market share and further disrupt the highly fragmented home furnishings marketplace," said Carlos Alberini, CEO. 
     
    For the year, net loss totaled $12.8 million, compared with a profit of $20.6 million in the prior year. Revenue rose 25% to $1.19 billion.
  • Kimberly-Clark Announces First Quarter 2013 Results

    Packaging News, |

    4/22/2013 12:00:00 AM

    Kimberly-Clark Corporation today reported first quarter 2013 results and increased its guidance for full-year 2013 adjusted earnings per share.

    Sales of $5.3 billion in the first quarter of 2013 were up 1 percent compared to the year-ago period.  Organic sales rose 3 percent, with increased sales volumes of 2 percent and higher net selling prices of 1 percent.  Foreign currency exchange rates were unfavorable by 1 percent and lost sales in conjunction with European strategic changes and pulp and tissue restructuring actions reduced sales by 1 percent.  

    Operating profit was $783 million in the first quarter of 2013, up 12 percent from $700 million in 2012.  Adjusted operating profit was $850 million in the first quarter of 2013, up 16 percent compared to $735 million in the year-ago period.  Adjusted results in 2013 exclude a $36 million charge for the remeasurement of the local currency-denominated balance sheet due to the February 2013 devaluation of the Venezuelan bolivar and $31 million of restructuring costs for European strategic changes.  Adjusted results in 2012 exclude $35 million of costs for pulp and tissue restructuring actions. 

    The increase in year-over-year adjusted operating profit included benefits from organic sales growth and $85 million in cost savings from the company's FORCE (Focused On Reducing Costs Everywhere) program.  Input costs were $35 million higher overall versus 2012, with $15 million of higher fiber costs, a $10 million increase for other raw materials and $10 million of higher distribution costs.  Overall marketing, research and general expenses increased versus the year-ago period, driven by higher administrative costs, while strategic marketing was down slightly compared to a high level of spending in the year-ago period.

  • WTI Crude Trades Near One-Week High; Funds Reduce Bullish Bets

    Miscellaneous News, |

    4/22/2013 12:00:00 AM

    West Texas Intermediate crude traded near the highest price in a week as investors speculated that declines over the past three weeks were excessive. Hedge funds cut bullish bets on WTI by the most in almost two months.

    Futures fluctuated in New York after gaining the past two days. WTI fell in the seven days ended April 19 for a third weekly decline, the longest run since November. Money managers reduced net-long positions, or wagers that U.S. prices will rise, by 6.8 percent in the week ended April 16, according to the U.S. Commodity Futures Trading Commission’s Commitments of Traders report on April 19. It was the biggest drop since the period ended Feb. 26.

    “While we’re holding around this zone, the outlook is starting to look more positive for oil,” said Michael McCarthy, a chief market strategist at CMC Markets in Sydney. “We should see a floor under oil at current levels. A lot of the falls that we’ve seen, not only in oil but other industrial commodities, were related to the weaker growth numbers that we’ve seen out of China and the U.S.”

    WTI for May delivery, which expires today, was at $88.14 a barrel, up 13 cents, in electronic trading on the New York Mercantile Exchange at 3:06 p.m. Singapore time.

  • Canadian Authorities Cleared Penguin Random House

    End User News, |

    4/22/2013 12:00:00 AM

    The Canadian Competition Bureau and the Department of Canadian Heritage have cleared the planned merger of Penguin Group and Random House without conditions. The two international media companies Bertelsmann and Pearson welcome the Canadian authorities’ decision as another important step on the way to completing the combination of their respective publishing companies Random House and Penguin Group to Penguin Random House.

    On February 14, 2013, the U.S. Department of Justice was the first authority to approve the planned merger – also without conditions. This was followed by approvals in Australia and New Zealand. On April 5, the EU Commission in Brussels also approved the planned combination without conditions. Other regulatory authorities are still reviewing the transaction. After all necessary approvals have been received, Bertelsmann and Pearson can close the transaction. The two companies are confident that the approvals will be forthcoming during the course of the year.

    The new publishing group, whose planned establishment the two partners had announced last October, will be 53 percent owned by Bertelsmann and 47 percent owned by Pearson. Penguin Random House will encompass all Random House and Penguin Group publishing units in the U.S. and U.K., Canada, Australia, New Zealand, India and South Africa, as well as Penguin's activities in China and Random House’s publishers in Spain and Latin America.

  • Final March NA Printing/Writing Data (UBS)

    Producer News, |

    4/22/2013 12:00:00 AM

    PPPC released final March North American printing and writing statistics on Friday afternoon, though data for some grades was available on Thursday.

    March showed seasonal recovery, but tepid underlying trends. Despite a more moderate shipment decline, in some ways trends were weaker than February given materially easier comparables. Inventories rose more than normal. Utilization softened modestly month over month and declined more on a yearover-year basis. Trade flows were favorable, with net imports falling to a 16-month low.

    In terms of grades, all four posted better shipment trends compared to February but each saw much easier comparables. All grades posted declines in utilization. All four grades posted unfavorable inventory trends compared to normal. Coated groundwood saw an unfavorable trade development (both year over year and month over month) other grades saw favorable trade developments.

    Once again, uncoated groundwood had the strongest shipment trend in the month, benefiting from a dramatically easier comp. Coated groundwood had the weakest shipment trend. Uncoated free posted the strongest utilization, 300 basis points stronger than the next closest grade.

    Total North American printing and writing paper shipments fell 5.3% year over year in March, improved from an 8.5% decline in February. The March comp was 1050 basis points easier than in February. Shipments are off 4.9% year to date.

  • Mag Bag: MAZ Gives Publishers Usage Data

    End User News, |

    4/19/2013 12:00:00 AM


    Magazine publishers that use the MAZ digital publishing platform are gaining access to more detailed usage data for their apps, including time spent per page, tap-through rates of links and multimedia and aggregate metrics, like total number of app and content sessions.
     
    The new usage data are being offered as part of MAZ 3.0, a new version of the platform, which incorporates the analytics and reporting tool, Maz Stats, into its digital dashboard. Maz Stats is specifically designed for publishers creating content for tablets and mobile devices.
     
    It includes the five main tablet metrics recommended by the MPA – The Association of Magazine Media. It also allows publishers to break out sharing data by social media channel and see which actual pieces of content are being shared socially using MAZ’s Clippings feature.
     
    MAZ Founder and CEO Paul Canetti stated: “The insights MAZ now provides will inspire more experimentation and eventually will generate new revenue streams as advertisers demand more granular metrics for digital content. Instead of shooting in the dark, publishers can actually know what is working and what is not.”
     
    MAZ also announced that it is expanding to other platforms with MAZ 3.0, including products for iPhone, Android smartphones and tablets, as well as the Amazon Kindle Fire and Kindle Fire HD.

  • EFI Reports Record First Quarter With Revenue of $171M, Up 7%

    Printer News, |

    4/19/2013 12:00:00 AM

    Electronics For Imaging, Inc., a world leader in customer-focused digital printing innovation, today announced its results for the first quarter of 2013.

    For the quarter ended March 31, 2013, the Company reported first quarter record revenue of $171.4 million, up 7% compared to first quarter 2012 revenue of $160.1 million. First quarter 2013non-GAAP net income was $15.8 million or $0.33 per diluted share, which included an unfavorable non-operational currency impact of $0.04 per diluted share, compared to non-GAAP net income of $14.2 million or $0.30 per diluted share for the same period in 2012. GAAP net income was $8.4 million or $0.17 per diluted share, compared to $6.2 million or $0.13 per diluted share for the same period in 2012.

  • Catalyst paper announces CEO's departure

    Producer News, |

    4/19/2013 12:00:00 AM
    Catalyst Paper announced today that President and Chief Executive Officer Kevin J. Clarke will step down from his position later this spring. Mr. Clarke has advised Catalyst’s Board of Directors that, with the company’s recent financial restructuring successfully completed, the time is right for a leadership transition.
     
    “Kevin steered Catalyst through a pivotal three years and the Board of Directors extends its appreciation to him,” said Chairman Les Lederer. “Under his leadership, the company intensified its focus on stakeholder relationships which culminated in the rapid completion of a reorganization plan that significantly improved Catalyst’s balance sheet and cost structure.
     
    “His printing and publishing industry experience was also helpful in advancing product and market development objectives,” Mr. Lederer said, “and served to put Catalyst on better footing to address the ongoing challenges of the fiercely competitive paper and pulp industry.”
     
    Mr. Clarke will continue in his role for an interim period through June 2013 to assist in a smooth transition. He plans to return to his home in New York State, where his family resides. A search for his successor is underway.
  • AAA Fuel Gage & Exchange Rates

    Miscellaneous News, |

    4/19/2013 12:00:00 AM

    AAA Fuel Gage 4/19/13
    National Unleaded Regular:
    Current Average - $3.506/gallon
    Month Ago Average - $3.697/gallon
    Year Ago Average - $3.891/gallon
    Highest Recorded Average - $4.114/gallon on 7/17/08
    Diesel:
    Current Average - $3.932/gallon
    Month Ago Average - $4.053/gallon
    Year Ago Average - $4.136/gallon
    Highest Recorded Average - $4.845/gallon on 7/17/08

    Current Exchange Rates as of 4/19/13
    American Dollar to Canadian Dollar = 0.975932
    American Dollar to Chinese Yuan = 0.161826
    American Dollar to Euro = 1.308765
    American Dollar to Japanese Yen = 0.010070
    American Dollar to Mexican Peso = 0.081701

  • WTI Crude Advances for a Second Day as Brent Climbs Above $100

    Miscellaneous News, |

    4/19/2013 12:00:00 AM

    West Texas Intermediate crude rose for a second day to trim its third weekly drop, the longest losing streak since November. Brent climbed above $100 a barrel.

    WTI advanced as much as 1.2 percent in New York. Prices increased the most in three weeks yesterday after the 14-day relative-strength index sank below 30 on April 17, a signal that the market is oversold, data compiled by Bloomberg show. Futures may decline next week on signs that economic growth is slowing, according to a weekly Bloomberg News survey.

    “We would expect a rebound,” said Miswin Mahesh, an analyst at Barclays Plc in London. “This year we’ll see very good demand growth,” and the seasonal weakness in demand is “something that we think is very transient, very temporary,” he said.

    WTI for May delivery increased as much as $1.06 to $88.79 a barrel in electronic trading on the New York Mercantile Exchange and was at $88.53 at 12:22 p.m. London time.

  • Sonoco Reports First Quarter 2013 Results

    Packaging News, |

    4/18/2013 12:00:00 AM

    Sonoco, one of the largest diversified global packaging companies, today reported financial results for its first quarter that ended March 31, 2013.

    First Quarter Highlights
    •First quarter 2013 GAAP earnings per diluted share were $.47, compared with $.42 in 2012.
    •First quarter 2013 GAAP results include $.03 per diluted share in after-tax charges related to previously announced restructuring activities and the impact of currency devaluation on operations in Venezuela. First quarter 2012 GAAP results included a $.10 per diluted share charge related to restructuring activities and acquisition-related expenses.
    •Base net income attributable to Sonoco (base earnings) for first quarter 2013 was $.50 per diluted share, compared with $.52 in 2012. (See base earnings definition and reconciliation later in this release.) Sonoco previously provided first quarter base earnings guidance of $.50 to $.54 per diluted share.
    •First quarter 2013 net sales were $1.18 billion, down 3 percent, compared with $1.21 billion in 2012.

  • Skateboarder Magazine Goes Digital-First

    End User News, |

    4/18/2013 12:00:00 AM

    Skateboarder Magazine isn't abandoning print altogether, but--not surprisingly for a young, male enthusiast title--it's going to concentrate a lot more on digital from now on.

    The 49-year-old GrindMedia brand is replacing its subscription-based print magazine with a free digital edition and a bimonthly print replica of the digital issue beginning with its current April/May issue.
     
    "We've learned that we need to change our focus with this particular audience and start with the notion of quick-hit videos," says Norb Garrett, senior vice president and group publisher for GrindMedia, an action and adventure sports division of Source Interlink. "From there we build other ancillary products. The magazine becomes almost a promotional device rather than the central focus. We've had to shift where the starting point is and where the delivery point is."
     
    The changes began early this year as Skateboarder Magazine saw several of its print-focused editorial staff replaced with web and video experts. Those moves came in response to growing web traffic--up 186 percent since they increased investment in video last year, Garrett says--and traditionally poor penetration into the audience. He estimates skateboard print media reaches less than 250,000 out of a potential audience of 22 million.

  • Crown Holdings Reports First Quarter 2013 Results

    Packaging News, |

    4/18/2013 12:00:00 AM

    Crown Holdings, Inc. today announced its financial results for the first quarter ended March 31, 2013.
     
    First Quarter Highlights
    Income per diluted share $0.28; Before Certain Items $0.50
    Global beverage can volumes grew 6% driven by strong growth in Brazil and Asia Pacific
    Second production lines in Putian, China and Bangi, Malaysia were commercialized

    Net sales in the first quarter grew to $1,973 million over the $1,947 million in the first quarter of 2012, primarily driven by increased global beverage can sales unit volumes more than offsetting lower raw material costs.
     
    First quarter gross profit improved to $299 million over the $287 million in the 2012 first quarter, primarily due to increased beverage can sales and reduced depreciation expense, partially offset by lower profits in the European Food segment.
     
    Selling and administrative expenses were $104 million in the first quarter compared to $106 million in the same period last year.
     
    Segment income (a non-GAAP measure defined by the Company as gross profit less selling and administrative expense) increased to $195 million in the first quarter compared to $181 million in the first quarter of 2012 primarily due to improved gross profit.

  • Introducing EVOK from Cascades—the first polystyrene foam food tray made with recycled material

    Packaging News, |

    4/18/2013 12:00:00 AM

    Cascades's new EVOK™, the first polystyrene foam food tray in North America made with recycled material, can now be found on the grocery shelves of an important Canadian distributor. EVOK™ was created to package meat, poultry, fish, vegetables, and fresh fruit. Cascades is proud to offer this innovative new product and reaffirm its position as a leader in packaging that respects the environment.

    By reducing the use of virgin material and introducing recycled material—at a level of 25%—Cascades has lowered the carbon footprint of food packaging.

    METRO has adopted the initiative with lots of enthusiasm. “Rethinking packaging is one of our priorities in our Corporate Responsibility approach,” says Mr. Serge Boulanger, METRO's Senior Vice-President, National Procurement and Corporate Brands. “We're very pleased to contribute to the best practices by becoming the first national brand to use EVOK™ in all our stores in Quebec.”

    Replacing regular packaging with EVOK™—which contains recycled material—enables METRO to reduce Quebec's greenhouse gas emissions (GHG) by some 600 tons. That's roughly the equivalent produced by 200 compact cars.

  • Brent Rises From Nine-Month Low; No Emergency OPEC Talks Seen

    Miscellaneous News, |

    4/18/2013 12:00:00 AM

    Brent crude rose from its lowest closing level in nine months and West Texas Intermediate advanced for the second time in six days,as European equities gained. OPEC was said to have no plans for an emergency meeting.

    Brent climbed as much as 1.4 percent, reversing an earlier loss of 1 percent. WTI added as much as 1.2 percent. European shares rose after the biggest four-day selloff since July as Italian and Spanish bonds rallied. The Organization of Petroleum Exporting Countries has no plans to hold emergency talks in response to oil’s drop, according to two delegates with knowledge of the group’s policy.

    “We do not believe that the timing is there just yet for Brent prices to drop sustainably below $100,” said Torbjoern Kjus, a senior oil analyst at DNB ASA in Oslo.

    Brent for June settlement on the London-based ICE Futures Europe exchange increased as much as $1.41 to $99.10 a barrel, and traded for $99.06 at 10:29 a.m. local time. Brent settled at $97.69 yesterday, the lowest close since July 2, after dropping below $100 a barrel this week for the first time in more than eight months. The volume of all futures traded today was 40 percent higher than the 100-day average.

    WTI for May delivery was at $87.70 a barrel, up $1.02, in electronic trading on the New York Mercantile Exchange at 10:24 a.m. London time after falling earlier as much as $1.07 to $85.61.

  • Postmaster General Urges Congress to Provide Delivery Schedule Flexibility to Address Broken Business Model

    End User News, |

    4/18/2013 12:00:00 AM

    Postmaster General Patrick R. Donahoe told a House committee today that the Postal Service is currently operating with a broken business model and the gap between revenues and costs will only get worse in the coming years unless the laws that govern the Postal Service are changed.

    “Our financial problems are due to the restrictive laws that prevent us from fully responding to changes in consumer behavior,” Donahoe testified before the House Oversight and Government Reform Committee. “Any private sector company could quickly adapt to the market changes we have experienced, and remain profitable. However, we do not have all of the flexibility we need to adapt to a changing marketplace.”

    Donahoe said the Postal Service continues to be very aggressive in cost-cutting actions it can take within the law, reducing its cost base by $15 billion since 2006. “No other organization, public or private, that I am aware of, can claim a similar cost reduction while continuing to function at a high level. And yet, we have to go much further and much faster and we are prepared to do so.”

    The Postal Service would have reduced costs an additional $2 billion annually by implementing the new delivery schedule announced in February. However, according to Postal Service legal opinions, House Resolution 933 to fund government operations for the remainder of the fiscal year included language specifically designed to prevent the Postal Service from changing to the new delivery schedule.

    “The Postal Service is a responsible, law-abiding arm of the executive branch. Congress passed a law, we reviewed it carefully, we complied with it and we informed our customers – which is what we did last week,” Donahoe told the Committee. “Our customers require certainty, especially about something as fundamental as our delivery schedule. And so, we announced that we would delay implementation of our new schedule until we gained legislation giving us the ability to move forward.”

  • Huge blaze at paper mill

    Packaging News, |

    4/18/2013 12:00:00 AM

    The fire, in the stockyard at Smurfit Kappa's SSK site in Nechells, to the north-east of Birmingham, broke out at around 10pm last night.

    It was a severe blaze, with 15 fire engines and some 100 firefighters from West Midlands Fire Service required to tackle it.

    There were also concerns about smoke drifting across the nearby M6 motorway. Nobody was hurt in the incident.
     
    The site is one of Smurfit Kappa's two recycled packaging mills in the UK, and produces testliner and recycled fluting. It processes more than 200,000 tonnes of recovered fibre a year, according to the company.
     
    The fire is understood to have involved 10,000 tonnes of cardboard for recycling stored in the yard. Local reports said the main building was unaffected, but this is yet to be confirmed by Smurfit Kappa.
     
    There has been a paper mill on the site for 150 years, and the mill has been manufacturing recycled grades since 1911. The name of the mill, which currently employs 110 staff, is based on the surnames of the founders: Smith, Stone and Knight.
     
    Smurfit Kappa issued a brief statement this morning. The company said: "At approximately 10pm last night a fire started in the paper yard and rapidly spread to the remaining raw material stock. Emergency services were called and are co-ordinating a combined operation to bring the situation under control. No one has been injured and we are co-operating fully with the emergency services on site."

  • WWF and other NGOs question APP forest promises

    Environmental News, |

    4/17/2013 12:00:00 AM

    The much-touted new deforestation policy of controversial paper giant Asia Pulp & Paper (APP) will save almost no forests in its main base of operations, Sumatra, Indonesia, a new report by NGO coalition Eyes on the Forest has concluded.

    APP and Sinar Mas announced the policy in February as “an end to the clearing of natural forest across its entire supply chain in Indonesia, with immediate effect.” However, a new Eyes on the Forest (EoF) analysis that looks at all APP concessions – including those not covered by the moratorium - in Riau Province, Sumatra, found that the policy protects at most 5,000 hectares of natural forest. This compares to the deforestation of more than 2 million hectares caused by the operation of APP’s Sumatra pulp mills over the past three decades.

    “We’re extremely disappointed. When APP published the policy, we thought it could be great news for Indonesia’s forests, biodiversity and citizens,” said Nazir Foead, Conservation Director of WWF-Indonesia. “However, after this new analysis for Sumatra, it appears that the company has announced a halt to deforestation only after completing nearly all the deforestation it could possible do.”

    Among APP’s many natural forest wood sources are the concessions of its suppliers in Riau Province. They alone lost more than 680,000 hectares of natural forest between the start of the company’s Riau pulp mill in 1984 and 2012. Of that, 77% was lost in legally questionable ways, while an even larger proportion - 83% - consumed the habitat of critically endangered Sumatran tigers and elephants.

    WWF called on APP and Sinar Mas to announce a forest restoration commitment.

    “The company is asking for a grand amnesty, for the ‘past to be forgotten’, leaving our country to deal with devastated ecosystems, social conflicts, on-going greenhouse gas emissions and critically endangered species who lost their habitat,” says Aditya Bayunanda, GFTN and pulp & paper manager of WWF Indonesia. “That is not acceptable, Indonesian NGOs are calling on APP to restore selected peatlands and forests lost in protected, High Conservation Value areas and to mitigate the damage its operations caused to surrounding natural forests, peat soils, and wildlife.”

  • Life Cycle Assessment Can Quantify Impact of Forest Certification, Study Shows

    Environmental News, |

    4/17/2013 12:00:00 AM
    Companies can measure and minimize the environmental footprint of the wood-based products they are sourcing, according to a recent study by Quantis. The study confirmed that it is possible to quantify to a certain extent the impact differential between certified and non-certified forest products within Life Cycle Assessments (LCA).
     
    "This development is extremely beneficial to everybody wishing to quantify the impact of their responsible timber sourcing practices and integrate it within product life cycle assessments," commented Sarah Price, Head of Projects & Development of PEFC International, the partner to Quantis in this project.
     
    Corporations and consumers alike share a desire to better understand and address the sustainability of the products they manufacturer and consume. However, product sustainability is a massively complex, multifaceted arena, requiring a corresponding diversity of approaches to manage and evaluate. One of these approaches is life cycle assessment, a technique to assess environmental impacts associated with all the stages of a product's life from cradle-to-grave. For timber and wood-based products, however, there has until now not been any data or methodology to integrate the comparative environmental impacts of certified products as compared to uncertified products into life cycle assessment.
     
    “Responsible companies’ source certified forest products because they know it’s the right thing to do, but until now they’ve been unable to quantify the real impact of that decision on climate change, human health or ecosystem quality,” Ms Price continued. “PEFC saw this as a lost opportunity and partnered with Quantis to develop new LCA datasets and fill this gap.”
  • MWV Healthcare Receives Walmart Responsibility Award for Total Health and Wellness

    Packaging News, |

    4/17/2013 12:00:00 AM

    MeadWestvaco Corporation, a global leader in packaging and packaging solutions, received Walmart’s "Responsibility Award for Total Health and Wellness,” which recognizes MWV’s development of the Shellpak® Renew medication adherence solution.

    Shellpak Renew was launched in June 2012 to provide an improved and more sustainable medication adherence package for prescription medicines. This type of packaging is proven to help improve patient medication adherence. Better adherence can lead to better patient health.

    Shellpak Renew was developed based on feedback from pharmacists and patients. The outer carton is made of MWV’s Natralock®, an environmentally-friendly, paperboard-based solution that maximizes the use of recyclable materials and is tear-resistant for a high level of child resistance. The new sustainable and easy-to-use Shellpak Renew is 40 percent smaller and 30 percent lighter than the original Shellpak®, and eliminates the use of plastic. This enhances the sustainability profile, minimizes pharmacy shelf space and improves convenience for patients. To improve adherence, Shellpak Renew includes an integrated calendar for patients to track their doses of medication.

    Shellpak Renew is an evolution of MWV’s Shellpak adherence solution, which originally launched in 2008. In a first-of-its-kind study published in Clinical Therapeutics, “A Pharmacoepidemiologic Analysis of the Impact of Calendar Packaging on Adherence to Self-Administered Medications for Long-Term Use,” conducted by Venebio and funded by MWV, when used alone Shellpak was found to demonstrate a statistically significant impact over vials, improving adherence and persistence for long-term daily medications.

  • Catalogers turn to online marketing when print’s too pricey

    End User News, |

    4/17/2013 12:00:00 AM
    While a print catalog may be justified for a major sales holidays like Mother’s Day or Valentine’s Day, e-mail and online advertising can be more profitable marketing vehicles for catalog retailers when it comes to lesser events, such as teacher or employee recognition days.
     
    Typically, major events warrant printing and mailing catalogs to drive sales because so many consumers are shopping for several weeks ahead of the event. But for other events, catalogers may not be able to justify producing a catalog that draws the attention of fewer consumers who may not shop much in advance for these lesser observances. That’s where online tools can help drive traffic to their e-commerce sites.
     
    By placing display ads on web sites or sending e-mail marketing messages, gift retailer Harry & David Holdings Inc. can quickly get marketing messages in front of consumers, says Paul Lazorisak, Harry & David vice president of customer marketing. “The promotional cadence is geared to those moments,” he says. “Catalogs can’t target down to several hundred people,” Lazorisak says.
     
    As a result, Harry & David, sends fewer printed catalogs than it once did, though Lazorisak would not be specific on how many fewer, and relies more on online marketing and its e-commerce site to carry sales. According to preliminary data from the 2013 Internet Retailer Top 500 Guide, in 2012, Harry and David’s e-commerce sales of $171.9 million accounted for 46.5% of its fiscal 2012 sales of $369.3 million; in 2005, web sales accounted for 17% of total sales of $561.8 million.
  • HP Empowers Customers to Print Responsibly with New Products, Expanded Recycling Options

    End User News, |

    4/17/2013 12:00:00 AM

    HP today announced new products and expanded solutions that enable printing customers to reduce their environmental impact while benefitting from the quality and reliability of Original HP printing supplies.

    The new offerings include a complete line of sustainably sourced papers and the addition of Office Depot as HP’s newest retail recycling ally.

    An industry leader in the shift to more environmentally sustainable printing, HP is leveraging key relationships with manufacturing, retail and nongovernmental organization (NGO) partners to provide customers with products and solutions designed with the environment in mind—from design and manufacturing to use and recycling.

    “Our customers want printing solutions that offer quality and reliability, with proven environmental performance,” said Annukka Dickens, director, Americas Environmental Leadership Team, HP. “HP’s approach includes innovative and environmentally sustainable product design, and free and easy return and recycling to help customers reach their sustainability goals.”

  • Cenveo Completes Refinancing of Credit Facilities

    Printer News, |

    4/17/2013 12:00:00 AM

    Cenveo, Inc. today announced that its subsidiary, Cenveo Corporation, has completed the refinancing of its existing senior secured Term B Loan and Revolving Credit Facility with an amended and restated $360 million Term B Loan facility, through Bank of America, N.A. as administrative agent, and joint lead arrangers Bank of America, N.A., Macquarie Capital (USA) Inc. and Barclays Bank PLC, along with a new $200 million asset based loan (“ABL”) Credit Agreement with Bank of America, N.A., as administrative agent, and Bank of America, N.A., Wells Fargo Bank, National Association, Barclays Bank PLC and General Electric Capital Corporation as joint lead arrangers.

    The new credit facilities will provide significant benefits for the company including:
    • Reducing the Term B Loan all-in interest rate from 7.00% to 6.25%;
    • Lowering the cost of borrowing on our revolver from 7.00% to approximately 2.20% based on current one month LIBOR rates and the initial interest rate spread;
    • Providing increased financial flexibility with updated covenants;
    • Subject to the satisfaction of certain requirements relating to the refinancing of Cenveo’s existing senior unsecured notes and senior second lien notes, extending the Term B Loan maturity from December 21, 2016 to April 16, 2020 and extending Cenveo’s revolving credit facility maturity from December 21, 2014 to April 16, 2018.

  • WTI Crude Trades Near Four-Month Low Before Supply Data

    Miscellaneous News, |

    4/17/2013 12:00:00 AM

    West Texas Intermediate fell for the fourth time in five days, trading near the lowest level in almost four months before government data forecast to show U.S. crude inventories rose last week.

    WTI dropped as much as 1 percent. An Energy Department report today may show crude supplies rose 1.2 million barrels to the highest level in 22 years, according to a Bloomberg survey. That’s contrary to a report yesterday from the American Petroleum Institute, which showed stockpiles slid 6.7 million barrels last week, the most since the seven days ended Dec. 28.

    “The oil market is looking quite weak and there’s a comfortable supply-demand situation in the short term,” said Gerrit Zambo, an oil trader at Bayerische Landesbank in Munich, who predicts the European benchmark, Brent, may tumble to $80 a barrel in the first half. “The fundamental reason for the bearish situation is the cautious outlook worldwide.”

    WTI for May delivery declined as much as 87 cents to $87.85 a barrel, and was at $88.03 in electronic trading on the New York Mercantile Exchange at 11:29 a.m. London time.

  • IAB: Internet ad revenue hits $36.6 billion

    End User News, |

    4/17/2013 12:00:00 AM

    Digital advertising revenue climbed to a record high of $36.6 billion last year, a 15% rise over 2011, according to a new report by the Interactive Advertising Bureau.

    According to the “IAB Internet Advertising Revenue Report,” conducted by PricewaterhouseCoopers, search continued to be the digital champ, with 2012 revenue of $16.9 billion, or 46% of total digital expenditures, up 14.5% from 2011.

    Display-related advertising revenue last year totaled $12.0 billion, or 33% of total digital expenditures, up almost 9% over 2011. Digital video, a component of display-related advertising, brought in $2.3 billion last year, an increase of 29% over 2011.

    For the second year in a row, mobile achieved triple-digit percentage growth. Last year, advertisers spent $3.4 billion on mobile ads, an increase of 111% over 2011. Mobile accounted for 9% of total internet ad revenue in 2012.

  • New Albany printing plant to close

    Printer News, |

    4/17/2013 12:00:00 AM
    A printing plant in New Albany, owned by Shoreview, Minn.-based Deluxe Corp., will close by the end of the year, and about 30 workers are being laid off in the process.
     
    Printing done at the New Albany plant is being moved to a new facility that the company recently opened in Chicago, according to Terri Shapiro, executive director of brand and media relations at Deluxe. She said many of the workers being laid off will be offered severance.
     
    The closure is part of a realignment for Deluxe.
     
    “Deluxe is a company … really going through a change,” she said.
     
    Years ago, the business was primarily a check printer. Now, it offers a range of printing and marketing products, including brand development, search engine optimization and e-mail marketing.
  • Newfoundland waives Kruger's tax bill

    Producer News, |

    4/17/2013 12:00:00 AM
    The Kruger Corner Brook paper mill received a boost from the Newfoundland government recently, when the provincial cabinet quietly extended a tax exemption until at least 2017, reports The Telegram. The St. John’s newspaper estimates the tax break is worth about $6 million.
     
    According to the paper, in an order in council issued by the provincial cabinet in early March, the government waived the “managed land tax” for a period of five years, from the 2012/13 budget year through to 2016/17.
     
    Natural Resources Minister Tom Marshall told the paper the tax break has been in place since a previous restructuring effort at the mill in 2009, and the government chose to extend it for five years as the mill struggles to remain financially viable.
     
    “If the paper mill goes down, I’m advised that the sawmills will go down as well,” Marshall said. “It’s not just one plant; it’s the whole industry.”
  • Colorfx Adds Powerful Xeikon 8800 Press to Boost Variable Data Printing Business

    Printer News, |

    4/17/2013 12:00:00 AM

    Xeikon NV, an innovator in digital color printing technology, announced today that Colorfx, a Des Moines, Iowa-based print and marketing services company, has purchased and installed a Xeikon 8800 digital color press to more cost-effectively print high-volume variable data pieces for its customers.

    Colorfx, which specializes in creating and executing multichannel marketing communications and direct marketing programs for its clients, plans to expand its digital print-on-demand services to include more full-color personalized pieces, such as direct mail, brochures and inserts.

    "We are continually looking for ways to create more value for our clients and help them grow their business cost-effectively," said Jon Troen, president of Colorfx. "We needed a press that offered the ideal combination of productivity, flexibility and quality, and the Xeikon 8800 was head and shoulders above the competition."

  • Variable Data, Transactional Print on the Rise: Xerox’s New Production Printer Helps Customers Bring in More Jobs

    Printer News, |

    4/16/2013 12:00:00 AM

    Transactional color variable-print volumes are expected to achieve unprecedented growth at an annual rate of 25 percent between 2011 and 2016, according to InfoTrends.1 Print service providers can capture more variable-data print jobs with the new Xerox Color 8250 Production Printer – an economical choice that is versatile enough to meet the demanding needs of this marketplace.

    The 8250 follows a long line of transactional devices that have established Xerox as the leader in the variable-print segment.

    “The printer fills a sweet spot in our production mix while complementing our Xerox Nuvera® and iGen® presses,” said Alan Olivero, president, Matrix Imaging Systems.

    The system is targeted for 800,000 to four million impressions per month and will deliver variable, vibrant color. It eliminates the need for preprinted offset shells – allowing print service providers to offer the additional value of one-pass color on  statements and direct mail pieces.

  • Two Sides Greenwashing Claims Campaign (Progress Report - April 2013)

    Environmental News, |

    4/16/2013 12:00:00 AM

    First, we would like to thank to the companies who have taken the time to listen to us, those that are currently working with us, and those that have corrected their claims.

    Shortly after its beginnings in 2008, Two Sides launched a campaign in the UK to challenge negative environmental claims about print and paper being made by many companies in order to promote electronic statements (ex: e-billing).  You’ve all seen them: Go green - Go paperless.  Save trees.

    Two Sides made this a focused initiative with a strategic approach to get the claims removed or changed.  The reasoning behind this is:
    •The “go green – go paperless” message is damaging to the print, paper and mail value chain and millions of jobs rely on this value chain.
    •Print on paper has unique environmental features that many other products and materials do not.
    •The “saving trees” and “go- green” messages create a false impression that forests and trees are a finite resource that is being lost instead of a renewable resource being replenished based on sustainable forest management practices.
    •Corporations must follow best practices for environmental marketing.  Claims should be based on sound and peer-reviewed scientific evidence (ex: CSR Europe guidelines, UK CAP, US FTC Green Guides and ISO14021)
    •The full impact of switching to e-media are often not properly considered and sometimes ignored.
    •The life cycle of e-statements is not paperless because many people print e-statements at home or at the office for record-keeping and other uses.

    Although the process was time-demanding and required many discussions and exchanges, our success was more than what we had expected.  In total, 80% of the companies (27 out of 34) we engaged changed or removed their anti-paper claims, including several large corporations.

    In July 2010, we launched the same campaign in the US with a strategic approach and focus to engage the top banks, utilities and telecoms that are currently using similar environmental claims.  We looked at over 100 companies and discovered that half of them are using misleading claims.  We are now systematically addressing these.  The “list” is growing weekly and our database now includes about 250 companies in many different sectors.

    Thanks to all of you who have been sending us claims of concern.  If you see one, just email it to us at inquiries@twosides.us

    Our goal is an 80% success rate in getting claims changed or removed.

  • Open Road Ramps up Translation Program with Five Deals

    End User News, |

    4/16/2013 12:00:00 AM

    RCS Libri, Grupo Planeta, Robert Laffont, Univers Poche and De Arebiderspers / A. W. Bruna Publishers have signed with Open Road Integrated Media to have Open Road distribute and market English-language digital editions of their books in English speaking territories. The deals will add a mix of mostly popular and literary fiction titles to Open Road’s international publishing partners program. Open Road CEO Jane Friedman said she expects to start publishing the titles this fall with the program continuing to build into 2014. She said she was “very pleased” with the list Open Road has created with its partners after what were some lengthy negotiations, noting that Open Road wanted to “make sure we are bringing in books that will sell.”

    In most cases, Open Road has world English rights and the translations are being done by the company’s partners. While Open Road has published some e-books in translation from Barcelona eBooks—and has deals in place with Mondadori and Place Des Editeurs—the new agreements give Open Road a critical mass of titles. The titles will “become part of what we do here” and initially will be marketed like other Open Road titles, Friedman said, but noted that “we’ll learn what we have to add. . .we’ll be experiment in the truest sense of the word.” All titles will be sold throughout North America and most throughout the English-speaking world.

    In its agreement with Italy’s RCS Libri, the program will begin with 20 titles from the romance, erotica, historical fiction, and literary fiction categories from bestselling authors such as Franco Di Mare, Dacia Maraini and Oriana Fallaci. The partnership will continue with backlist from these authors, and will also include a select list of titles from Rizzoli First, a digital first imprint established in late 2012. Under its deal with the Dutch publisher De Arebiderspers / A. W. Bruna Publishers, Open Road will publish 25 titles from its backlist.

    In Spain, Open Road will publish about 25 Planeta books of historical fiction, women’s fiction, and literary fiction, including Angeles Caso’s Against the Wind, and Luz Gabas’ Palm Trees in the Snow.

  • Deloitte Consumer Spending Index holds steady

    End User News, |

    4/16/2013 12:00:00 AM
    The Deloitte Consumer Spending Index ticked down slightly in March, but has remained relatively steady with a reading over 4.0 the past five months. The Index tracks consumer cash flow as an indicator of future consumer spending.
     
    "The drastic ups and downs among factors including wages, home prices and unemployment claims have subsided, delivering more stability to the Index, which remains at a level consistent with real personal consumption growth of around 2 percent at an annual rate," said Patricia Buckley , director, economic policy and analysis, Deloitte Services LP, and author of the monthly Index. "Rising real home prices and small but steady consumer spending increases are among factors suggesting the country may be poised for growth this year, should the economy avoid negative impacts from Europe's financial troubles or the debt ceiling debate this summer."
     
    The Index, which comprises four components — tax burden, initial unemployment claims, real wages and real home prices — fell slightly this month to 4.12 from a reading of 4.37 the previous month. 
  • People Courts New Audiences With Online Chat

    End User News, |

    4/16/2013 12:00:00 AM

    People magazine is best known for its coverage of celebrities, gossip and entertainment, but the brand has begun edging deeper into the general lifestyle category with the introduction of a new editorial project that rolled out last week.
     
    Khaled Hosseini, author of the best-selling novel The Kite Runner, conducted a live Q&A with the People.com audience on Thursday—the chat lasted more than an hour and more than 670 users submitted questions online. More than half the users stayed to participate for over 30 minutes, with another two thirds of users staying for over 20 minutes.

    The online event is a far fall from its coverage of Hollywood drama, and shows that People is making an effort to incorporate more literary and lifestyle content. 

    “We just started a new franchise about a month ago called ‘What We’re Reading,’” says Janice Morris, managing editor for People Digital. “Every Thursday we’ve started posting what the staff book picks are—it’s more of a companion piece to the book picks that are in the issue every week. We have formal reviews in the print issue of what’s new and what’s out, and People.com’s ‘What We’re Reading’ is about what [editors] are looking at on their own nightstands. We’ve started going into books online slowly in that way.”
     
    Morris says that the posts about staff literature choices have been generating engagement from readers in the form of comments, likes and tweets.

  • Aging Well Magazine Rebrands As Today’s Geriatric Medicine

    End User News, |

    4/16/2013 12:00:00 AM
    There are about 300 million people who live in the United States, almost a third, or 78 million, of whom are baby boomers. Now that America’s largest population segment is aging, the Pennsylvania-based Great Valley Publishing Company is rebranding its aging-focused magazine to better reflect the nation’s new demographics.
     
    The publisher’s bimonthly title Aging Well will become Today’s Geriatric Medicine. The first issue will hit with the May/June edition, and the brand’s digital presence has been remade as well with the introduction of TodaysGeriatricMedicine.com
     
    “Now, with older adults representing the largest segment of America’s population, [we] are expanding the scope of coverage to include other health care professionals whose participation figures prominently in the care of older adults, including dietitians, nurses, social workers, physical therapists, and occupational therapists,” a statement from Great Valley Publishing Company says.
     
    Today’s Geriatric Medicine is part of a Great Valley Publishing roster of publications, which includes Today’s Dietitian and Social Work Today. Great Valley also publishes the health information management trade magazine, For The Record, as well as the monthly, Radiology Today.
  • Brent Crude Falls Below $100; WTI Lowest in Four Months

    Miscellaneous News, |

    4/16/2013 12:00:00 AM

    Brent crude fell below $100 a barrel for the first time since July amid signs global economic growth may slow, curbing fuel demand. West Texas Intermediate declined to a four-month low on speculation U.S. supplies rose.

    Brent futures slid as much as 2.6 percent to $98 a barrel, while WTI dropped to the lowest intraday price since Dec. 14. Prices fell after German investor confidence declined more than economists forecast in April. U.S. crude stockpiles probably climbed 1.5 million barrels last week to 390.4 million, the highest since July 1990, according to a Bloomberg survey before a government report tomorrow.

    “As with many times in the past, oil has been used as the tool to express concerns about the macro economy and we are in the same situation now,” said Amrita Sen, chief oil market analyst at Energy Aspects Ltd., a research company in London, who predicted on April 8 that Brent may soon drop to $100. “Brent has been under pressure due to an improvement in supplies and a lack of demand.”

    Brent for June settlement fell as much as $2.63 on the London-based ICE Futures Europe exchange, and later recovered to $100.05 at 10:50 a.m. local time.

  • MPA Is Getting Closer to Digital Magazine Ad Standards

    End User News, |

    4/16/2013 12:00:00 AM
    Magazine publishers have found new fans for their content on tablets and e-readers, but will they ever be able to get advertisers to give them the same commitment?
     
    In the three years since consumers got their hands on Apple's first iPads, magazines have been preparing their content for the new tablets and their competitors. Publishers saw in them an opportunity to reverse the practice of devalued subscription prices and upsell advertisers to interactive ads.
     
    While there's been progress on the first front, it’s been hard to sell advertisers on the platform because digital circulation is still relatively small (accounting for less than 3 percent of total circ), and there’s no standard for measuring readership.
     
    The ball got rolling a year ago when MPA—The Association of Magazine Media asked publishers to adopt voluntary guidelines for reporting tablet audience data. They would include data like total number of digital issues sold, readers per issue and time spent reading an issue.
     
    Still, the goal of independently certified metrics was daunting. With all the different devices and measurement firms, the resulting numbers are a hodgepodge that defy easy comparisons. Publishers don't all sell their digital editions to consumers and advertisers the same way, and some of them are still reluctant to give ad buyers all the data they want (particularly if publishers are going to charge them for digital copies) because the numbers are often small. "It’s the lack of consistent measurements that makes it really, really challenging," said Gregg Hano, CEO of digital publishing platform Mag+.
     
    There isn't even complete agreement on the terminology itself, which can lead to some Clintonian discussions of their own. Take downloads: Do you count them when they’ve begun or when they’re completed? And do automatically downloads carry the same weight? Counting reading sessions of an individual issue is another. "If you open our app two weeks after the issue date…What’s the cutoff point?" asked Paul Rossi, evp and managing director of The Economist, Americas.
     
    Another aspect to the struggle, said Robin Steinberg, evp of Mediavest, is that publishers are still invested in viewing tablet editions through their print model, which, unlike the Web, carries a premium CPM. Digital magazines could still be valued as premium because of the functionality and interactivity they let consumers enjoy, but that requires a different business model and metrics, she said.
     
    Luckily, progress is being made. MPA has gotten five analytics companies including Google and Adobe to take previously incomparable tablet reader data and present it in apples-to-apples fashion. The industry's major publishers are slated to participate in the pilot, which is set to start in October. If the pilot goes well, the next step would be to find a third party to audit the data, a challenge unto itself as a research firm would be betting big that the time and resources required to develop a new tool would pay off. The Alliance for Audited Media (formerly Audit Bureau of Circulations) would like the job, but it's unclear MPA wants to go in that direction.
  • Grainger Reports Record EPS Of $2.94 For The 2013 First Quarter

    End User News, |

    4/16/2013 12:00:00 AM

    Grainger today reported results for the 2013 first quarter ended March 31, 2013.  Sales of $2.3 billion increased 4 percent versus $2.2 billion in the first quarter of 2012.  There were 63 selling days in the quarter, one less than in 2012.  On a daily basis, sales for the first quarter 2013 increased 6 percent.  Net earnings for the quarter increased 13 percent to $212 million versus $188 million in 2012.  Earnings per share of $2.94 increased 14 percent versus $2.57 in 2012.

    Sales increased 4 percent in the 2013 first quarter reflecting 1 less selling day versus the 2012 first quarter.  Sales increased 6 percent on a daily basis and consisted of 3 percentage points from volume, 2 percentage points from price, 1 percentage point from acquisitions and 1 percentage point from higher sales of seasonal products, partially offset by a 1 percentage point reduction from foreign exchange.  Daily sales increased 8 percent in January, 6 percent in February and 3 percent in March.  Sales in March 2013 were affected by the timing of the Easter Holiday, which reduced daily sales growth by 2 percentage points and also reduced sales growth for the company's reportable business segments.  In addition, uncertainty in the United States surrounding sequestration contributed to a decline in sales to the government end market, which represented 15 percent of sales for the U.S. segment. 

    The company's gross profit margin increased 0.8 percentage points to 45.2 percent versus 44.4 percent in the 2012 first quarter, primarily driven by the United States segment.  Company operating expenses in the quarter increased 3 percent including an incremental $22 million in spending to fund the company's growth programs.

  • Trade Publishers' Net Revenue Grows 6.2% for Calendar Year 2012

    End User News, |

    4/15/2013 12:00:00 AM

    For calendar year 2012, US Trade publishers’ net revenue grew by 6.2% as compared to calendar year 2011, according to the Association of American Publishers “StatShot” monthly report for December 2012, released today.

    The report also showed increases year over year for net revenue in the Trade categories of Adult Fiction/Non-Fiction and Children’s/Young Adults.

    In formats, Adult Fiction/Non-Fiction saw growth in eBooks, downloaded audiobooks and paperbacks while Children’s/YA eBooks, hardcover and board books saw increases. The eBook format in the Religious Presses category also grew as compared to 2011.

    The StatShot December data was provided by 1193 publishers. The Trade sector of publishing includes Fiction and Non-Fiction for Adults, Children’s and Young Adult books and Religious Presses.

    This report also marks the 10th anniversary of AAP’s compilation of Trade publishers’ annual net revenue from eBook sales. Since the extent and categories of publishers reporting data, the definitions of formats and the methodology of the surveys themselves have evolved and sharpened so dramatically over the past decade, the annual results can’t be directly compared. But it’s possible to view them on an anecdotal level.

  • Booksellers Urge Court Not to Toss Amazon E-book Lawsuit

    End User News, |

    4/15/2013 12:00:00 AM

    Plaintiff booksellers this week filed an opposition motion urging the court not to dismiss their lawsuit against Amazon and the big six publishers, arguing that there is indeed enough evidence of restraint of trade to keep the case moving forward. The filing comes in response to independent motions filed two weeks ago by Amazon and the big six publishers, in which both defendants asked the court to toss the suit as without merit. But the booksellers say a basic reading of the facts is more than enough to sustain their action.

    “Having developed and successfully exploited its Kindle e-book reader, which dominates the e-reader market, Amazon entered into written contracts with the Big Six that facially blessed the use of an Amazon controlled digital rights management technology (“DRM”) on the Big Six’s e-books,” the bookseller motion notes. “The restrictive DRM, in conjunction with the contracts with the Big Six, operates to protect Amazon’s e-reader monopoly. In addition, independent brick-and-mortar bookstores have been foreclosed from effective entry into the e-book market. As a result, consumers of e-books have been deprived of the benefits of choice and of the innovations that would surely have evolved had Amazon’s monopolies been challenged.”

    In their motions to dismiss, both Amazon and publishers argued that the booksellers could not show “any actual adverse effect on competition” and that the suit was based on “naked conclusions that Amazon’s use of ‘device specific’ DRM technology harms competition.”

    The booksellers, however, reply that Amazon and the publishers are either misreading the complaint, or attempting to “rewrite” it for the court, in order to facilitate a dismissal. In fact, what the publishers deem “implausible,” they state, will be confirmed by contracts and documents once produced. “The big six do not, and cannot, deny that they each entered into agreements with Amazon, and then, with full knowledge of the market and the technology being used and available, renewed those agreements regarding the DRM technology that was to be used on all of the e-books published by the big six and distributed by Amazon,” the booksellers state. “Discovery will reveal that there was indeed a meeting of the minds between the Big Six and Amazon.”

  • U.S. Corrugated Sales Picking Up Slowly, But Demand Eratic

    Packaging News, |

    4/15/2013 12:00:00 AM

    U.S. sales of corrugated cardboard packaging picked up in the first quarter of 2013 but are growing slowly, reflecting moderate and inconsistent demand for the consumer products that they contain, industry executives said.

    Corrugated manufacturers in Texas, Wisconsin and Philadelphia said orders are growing steadily, particularly from the food & beverage and pharmaceuticals industries, and that demand appears to be stronger than it was in the fourth quarter of 2012.

    A trade association reported growing sales in the first two months of the year, followed by a decline in March.

    But one production measure of containerboard — the kind of paper used for making corrugated — suggested volatile demand and uncertainty about the strength of the economic recovery.

  • Metsä Group initiates a cost savings programme in its wood products business

    Producer News, |

    4/15/2013 12:00:00 AM

    Metsä Wood, part of Metsä Group, will initiate a cost savings programme. The reasons for this are the unsatisfactory development of profitability over the last few years and the declining sales on the main market areas. With the programme, Metsä Wood aims to improve its competitiveness in the future.

    Metsä Wood operations will be reorganised by merging the Plywood and Building Products business lines into a Building and Industry business line. The Timber and Upgrades business line will continue to do business in its existing form. Significant synergies will be sought from the combination of operations in the entire organisation.

    During the past few years, the market in the UK has developed unfavourably. Operations have been previously adjusted in line with market conditions. The company is proposing to initiate new adaptation measures in all UK Timber and Upgrades business units. These measures could affect in a reduction of up to 150 jobs. At the same time, Metsä Wood will continue its activities to increase sales and to ensure more efficient customer service.

    As part of the programme, Metsä Wood plans to divest the Casteljaloux sawmill, upgrading and distribution unit in France. The company has initiated a divestment process with the aim of finding a credible buyer for the unit and to divest the operations within the next two months. If a credible buyer is not found, Metsä Wood will initiate statutory labour negotiations for closing down the unit. These operations currently employ a total of 34 persons.

  • Brent Crude Declines to Lowest in Nine Months on China Slowdown

    Miscellaneous News, |

    4/15/2013 12:00:00 AM

    Brent crude fell to its lowest level in nine months and West Texas Intermediate dropped below $90 a barrel, as economic growth eased unexpectedly in China, the world’s second-largest crude consumer.

    Brent declined as much as 2.5 percent to its weakest since July 13. China’s gross domestic product in the first quarter rose 7.7 percent from a year earlier, according to the National Bureau of Statistics. That compares with the 8 percent median forecast in a Bloomberg survey and 7.9 percent in the prior quarter. Nicolas Maduro was elected president of Venezuela, OPEC’s third-biggest oil producer.

    This simply confirms the picture of a slowing economy” in China, said Guy Wolf, Global Head of Market Analytics at Marex Spectron Group in London, who predicts Brent may fall as low as $85 this quarter. “Globally, the picture is not healthy.”

    Brent for May settlement, which expires today, fell as much as $2.56, or 2.5 percent, to $100.55 a barrel on the London- based ICE Futures Europe exchange, and traded at $100.67 at 11:13 a.m. local time. The more-active June future dropped $2.18 to $100.86 a barrel. The front-month European benchmark grade was at a premium of $12.46 to WTI futures.

  • Saturday mail might come with costs to publishers

    End User News, |

    4/15/2013 12:00:00 AM
    Initially, the return of Saturday mail might be regarded as good news for some publishers, but the resumption of Saturday service has prompted USPS to explore rate hikes for all periodicals.
     
    On the day the Postal Service announced it had cancelled plans to end Saturday mail, ABM Washington Representative Tom Carpenter and ABM Postal Counsel Jack Widener, as well as other postal stakeholders, met with Postmaster General Patrick R. Donahoe to discuss the future of the agency.
     
    According to the Postmaster General, given that a postal reform bill still hasn't been passed, USPS felt five-day delivery was one of the agency's only paths to significant savings. Now that new legislative language makes it impossible for the agency to continue its plan, he said, USPS has to seek revenue elsewhere -- possibly in the form of exigent rate increases for all classes of mail and/or an increase for periodicals. While the end of Saturday service only affected a small segment of b-to-b print publishers, a rate hike will likely impact all print magazines.
     
    "His message to us was that he has no other choice but to seek savings from labor costs and increase postal rates," said Carpenter. "Even after all the savings efforts of the last two years, and defaulting for the third year in a row on retiree health benefits, USPS will still be billions in the red at the end of the year."
     
    In the meeting, the Postmaster General discussed increases for "underwater products," that is Postal Service products that have consistently failed to cover their costs, as well increases for all classes of mail. In the Postal Regulatory Commission's latest Annual Compliance Report, seven of the Postal Service's products were deemed "underwater," including periodicals. During fiscal year 2012, periodicals only covered 72 percent of its costs, meaning the “underwater” rate hike could be as much as 28 percent.
  • Ahlstrom completed the investments for low grammage papers production at its Stenay plant, France

    Packaging News, |

    4/15/2013 12:00:00 AM

    Ahlstrom, a global high performance fiber-based materials company, has completed the earlier announced EUR 7 million investments at its Stenay plant, France. With the investment, the plant successfully expanded its product portfolio of one-side coated papers for metalized labels and flexible packaging.

    The grades produced at Stenay's paper machine 3 span now from 50 to 160 g/m². These coated papers can be used for metalized beer labels and flexible packaging applications such as biscuits, sweets, coffee bags, pharmacy, pet food bag outer liners, tea envelopes, tobacco pouches, as well as bundle wraps for yoghurt pots.

    "By lowering the weight of a paper used for metalized labels, flexible packaging and other graphics and industrial applications, Ahlstrom responds to the need for lighter papers to reduce the weight of packaging and labels and consequently lower their environmental footprint," says Daniele Borlatto, EVP, Label and Processing.

  • Pearson to sell its stake in BDFM to Times Media Group

    End User News, |

    4/15/2013 12:00:00 AM
    Pearson has agreed to sell its 50% holding in BDFM in South Africa to Times Media Group (TMG) for an undisclosed sum.
     
    BDFM is the publisher of some of South Africa’s leading business media including Business Day, BDLive, Financial Mail and Summit TV. TMG is Pearson’s existing partner in BDFM, and the sale takes TMG’s ownership of BDFM to 100%.
     
    The transaction supports Pearson’s continued focus on global business news and analysis through the FT Group, and includes a long-term agreement to secure the editorial independence of the titles. The disposal is consistent with Pearson’s strategy of recent years and the sale of Recoletos in Spain, Les Echos in France and FT Deutschland.
  • Gap Inc. Reports March Sales

    End User News, |

    4/15/2013 12:00:00 AM

    Gap Inc. today reported that March 2013 net sales increased 7 percent compared with last year.

    Net sales for the five-week period ended April 6, 2013 were $1.56 billion compared with net sales of $1.46 billion for the five-week period ended March 31, 2012. Due to the 53rd week in fiscal year 2012, March 2013 comparable sales are compared to the five-week period ended April 7, 2012. On this basis, the company’s comparable sales for March 2013 were down 1 percent compared with an 8 percent increase for March 2012.

    Comparable sales by global brand for March 2013 were as follows:
    •Gap Global: flat versus positive 7 percent last year
    •Banana Republic Global: positive 1 percent versus positive 5 percent last year
    •Old Navy Global: negative 2 percent versus positive 11 percent last year

  • Limited Brands Reports March 2013 Sales

    End User News, |

    4/12/2013 12:00:00 AM

    Limited Brands, Inc. reported a comparable store sales increase of 3 percent for the five weeks ended April 6, 2013, compared to the five weeks ended April 7, 2012.  The company reported net sales of $894.8 million for the five weeks ended April 6, 2013, an increase of 6% compared to net sales of $840.9 million for the five weeks ended March 31, 2012.

    The company reported a comparable store sales increase of 3 percent for the nine weeks ended April 6, 2013, compared to the nine weeks ended April 7, 2012.  The company reported net sales of $1.607 billion for the nine weeks ended April 6, 2013, compared to sales of $1.495 billion for the nine weeks ended March 31, 2012.  

  • Rite Aid Reports Net Income and Record Adjusted EBITDA for Fourth Quarter and Full 2013 Fiscal Year

    End User News, |

    4/12/2013 12:00:00 AM

    Rite Aid Corporation today reported net income for the fourth quarter and fiscal year ended March 2, 2013.
     
    For the fourth quarter, the company reported revenues of $6.5 billion, net income of $123.1 million or $0.13 per diluted share and Adjusted EBITDA of $340.3 million or 5.3 percent of revenues.
     
    For the full year, Rite Aid reported revenues of $25.4 billion, net income of $118.1 million or $0.12 per diluted share and Adjusted EBITDA of $1,128.4 million or 4.4 percent of revenues.

    Same store sales for the quarter decreased 2.0 percent over the prior-year period, consisting of a 0.3 percent increase in the front end offset by a 3.1 percent decrease in the pharmacy. Pharmacy sales benefited from a 3.0 percent increase in the number of prescriptions filled in same stores, which was more than offset by an approximate 659 basis point negative impact from new generic introductions. Although new generic introductions have a negative impact on sales, they have a positive impact on gross profit. Prescription sales accounted for 66.5 percent of total drugstore sales and third party prescription sales were 96.6 percent of pharmacy sales.

  • Bed Bath & Beyond Inc. Reports Results For Fiscal Year Ended March 2, 2013

    End User News, |

    4/12/2013 12:00:00 AM

    Bed Bath & Beyond Inc. today reported net earnings of $1.68 per diluted share ($373.9 million) in the fiscal fourth quarter (fourteen weeks) ended March 2, 2013, an increase of approximately 14% versus net earnings of $1.48 per diluted share ($351.0 million) in the same quarter a year ago (thirteen weeks).  Net sales for the fiscal fourth quarter (fourteen weeks) of 2012 were approximately $3.401 billion, an increase of approximately 24.5% from net sales of approximately $2.732 billion reported in the fiscal fourth quarter (thirteen weeks) of 2011.  Comparable store sales in the fiscal fourth quarter of 2012 increased by approximately 2.5%, compared with an increase of approximately 6.8% in last year's fiscal fourth quarter. 

    During the fiscal fourth quarter of 2012, the Company repurchased approximately $305 million of its common stock, representing approximately 5.3 million shares.  As of March 2, 2013, the remaining balance of the existing share repurchase program authorized in December 2012 was approximately $2.4 billion. 

    For the fiscal year (fifty-three weeks) ended March 2, 2013, the Company reported net earnings of $4.56 per diluted share ($1.038 billion), an increase of approximately 12% over net earnings of $4.06 per diluted share ($989.5 million) in the corresponding period a year ago (fifty-two weeks).  Net sales for fiscal 2012 (fifty-three weeks) were approximately $10.915 billion, an increase of approximately 14.9% from net sales of approximately $9.500 billion in the corresponding period a year ago (fifty-two weeks).  Comparable store sales for fiscal 2012 increased by approximately 2.7% compared with an increase of approximately 5.9% last year.  Comparable store sales for the fiscal fourth quarter and fiscal year are based on 14 weeks and 53 weeks, respectively, and exclude Cost Plus, Inc. ("World Market") and Linen Holdings.

  • Ad Spend Forecast Down Even More

    End User News, |

    4/12/2013 12:00:00 AM
    This year is unlikely to go down as a banner one for the advertising industry. According to marketing intelligence company Warc, global ad spending (based on 12 major markets) will only increase 3% in 2013, down a full percentage point from the company’s forecast from November 2012.
     
    Already expected to be less robust than last year (which had the Olympics and a U.S. presidential election going for it to boost spending), further concerns about the global economy (particularly the debt crises in Europe, and economic slowdowns in China and India) as well as domestic spending cuts just coming into effect led to the downgrade, according to Suzy Young, data and journals director, at Warc.
     
    "With few major political or sporting events this year, global advertising spend growth was always expected to be slower than in 2012,” Young says. “The Eurozone debt crisis also continues to depress growth both among member countries and abroad. To offset this, global ad spend will be reliant on a solid performance from the U.S. and strong growth from emerging markets."
     
    Of the 12 major markets Warc forecasts, only Brazil and Japan were not subject to forecast downgrades, compared to the company’s 2013 reports. Though still slower than previously expected, Brazil, Russia, India and China (BRIC) will continue to be the fastest-growing markets, with increases of 9.5%, 12.4%, 7.9% and 9% growth, respectively.
  • Print-to-Mobile Sees Emergence of Image Recognition and Augmented Reality in 2012 | Print | E-mail

    End User News, |

    4/12/2013 12:00:00 AM

    Mobile activation in the Top 100 U.S. magazines has dramatically changed from 2011 to 2012. Several compelling patterns have emerged, notably the increasing popularity of issue-wide mobile programs and magazine branded scanning apps, particularly those leveraging augmented reality, image recognition, and invisible watermarking technology. Over the last two years that Nellymoser has tracked the use of print to digital content in magazines, there has been overwhelming growth in mobile activations used in both editorial and advertising content.

    This initiative was designed to amass the most comprehensive picture of how mobile is being deployed in the U.S. magazine market. Every page was examined, every mobile enhancement was launched, and the data was collected on both advertising and editorial pages. Nellymoser uses this data for both industry-wide benchmarking and to inform the design and implementation of print to digital experiences.

  • American Forest & Paper Association Responds to USPS Decision to Delay Elimination of Saturday Delivery

    End User News, |

    4/12/2013 12:00:00 AM
    American Forest & Paper Association President and CEO Donna Harman issued the following statement regarding the United States Postal Service’s (USPS) decision to postpone elimination of Saturday delivery.
     
    “We are pleased with today’s announcement that the USPS will delay its plans to eliminate Saturday mail delivery pending further congressional action, as this reduction in service would have been short-sighted and harmful to their ability to serve customers.
     
    “AF&PA and its members will continue to engage with both the Postal Service and Congress as they seek to improve the agency’s financial viability with a more comprehensive legislative solution.”
  • With No Action From Congress on Costs, USPS Board Announces Abandonment Of 5-Day Delivery For Now

    End User News, |

    4/11/2013 12:00:00 AM

    The USPS’s Board of Governors announced this morning their decision to not proceed with a move to five-day delivery of non-parcel mail in August 2013, as previously announced.

    This decision was made given the Continuing Resolution recently passed through Congress directing the USPS to maintain six-day delivery for all mail. As a consequence, given the persistent low liquidity of the agency, the Board has directed management to review and consider all available options to reduce costs or increase revenue. This specifically also includes an exigent rate case, as I learned from a USPS officer today.

    The Board’s prepared statement noted the following:

    The Board continues to support the transition to a new national delivery schedule…It is not possible for the Postal Service to meet significant cost reduction goals without changing its delivery schedule – any rational analysis of our current financial condition and business options leads to this conclusion. Delaying responsible changes to the Postal Service business model only increases the potential that the Postal Service may become a burden to the American taxpayer, which is avoidable.

  • Costco Wholesale Corporation Reports March Sales Results

    End User News, |

    4/11/2013 12:00:00 AM

    Costco Wholesale Corporation today reported net sales of $9.67 billion for the month of March, the five weeks ended April 7, 2013, an increase of seven percent from $9.07 billion during the similar period last year.

    For the thirty-one weeks ended April 7, 2013, the Company reported net sales of $61.02 billion, an increase of eight percent from $56.34 billion during the similar period last year.

  • Corrugated packaging carbon footprint reduced by 4.8% over three years

    Packaging News, |

    4/10/2013 12:00:00 AM

    FEFCO (European Federation of Corrugated Board Manufacturers) is proud to announce that a further decrease of the Carbon Footprint by 4,8% has been achieved over the past three years (from 2009 to 2011), on top of a reduction by 11,7% from 2006 to 2008. During the last three years, the average carbon footprint of Corrugated was reduced from 784kg/t to 746 kg/t. The main reason is a considerable drop in electricity usage, mainly due to the reduction of electricity bought by kraftliner producers.

    Pulp and paper mills with kraft cooking, as used by all kraftliner producers, have invested heavily the last 4 to 5 years on the energy conservation side of their processes. New big boilers for bark and other biofuels combined with steam turbines are used for electricity production. The Corrugated industry intensifies the use of recycled fibers for the production of Corrugated Packaging: the input of recycled paper into new corrugated increased from 82% in 2009 to 85% in 2012. The Corrugated Industry and its suppliers continue exploring ways to reduce the environmental impact of their products. Corrugated Packaging proves again to be a sustainable material, which is highly appreciated both by the supply chain and consumers. According to recent studies, consumers prefer paper-based packaging over other material. Corrugated is economical, can be 100% recycled and perfectly protects goods on their entire journey to the consumer.

  • H.I.G to Buy Packaging Products Maker Caraustar by Month's End

    Packaging News, |

    4/10/2013 12:00:00 AM

    H.I.G. Capital is nearly ready to box up its latest deal.

    The Miami firm is in the final stages of wrapping up a deal for Caraustar Industries Inc., which will see the once-bankrupt packaging products maker change hands from Wayzata Investment Partners, said a person close to the transaction.
     
    The deal is expected to close by the end of the month and will include a debt package provided by Credit Suisse Group, Goldman Sachs Group Inc. and Jefferies Co., the person said.

    Jefferies is advising Austell, Ga.-based Caraustar on the transaction.

  • Optimism in foodservice packaging sector

    Packaging News, |

    4/10/2013 12:00:00 AM

    Results of the FPI “State of the Industry Survey” found that nearly 85 percent of foodservice packaging manufacturers in North America expect their sales volume to improve, and almost three quarters expect higher profits in 2013. Respondents were a little less optimistic in Europe, with just over half expecting volumes to increase and about a third anticipating better profits than last year. All the North American raw materials suppliers indicated sales volume growth, but less than half expect higher profits in 2013. It was a similar story for machinery suppliers; two thirds of those respondents predict elevated volume in 2013, with about a third expecting more profit.

    In another positive sign for the industry, more than 70 percent of the North American and European manufacturers reported plans to purchase new rather than used machinery in 2013. The two most common reasons for the planned purchases were market share increase and product capability expansion.

    When considering growth potential over the next five years, respondents expect strong sales in single-use packaging from grocery stores and quick service restaurant chains; among North American manufacturers, convenience stores topped the list. Grocery stores, fast casual/quick service restaurants, and nursing homes took the lead for largest growth expectancy in foodservice market segments. Many respondents also reported plans to increase manufacturing of paper and plastic foodservice packaging made with recycled material. This is consistent with results from FPI’s “Trends Survey” released late last year.

  • Valassis Unveils Geo-Commerce Retail Zones

    End User News, |

    4/10/2013 12:00:00 AM
    Valassis is unveiling new targeting capabilities through Brand.net, with a service called Geo-Commerce Retail Zone, which uses over 100,000 local targeting zones created by Valassis to reach prospective consumers on their way to retail.
     
    The Geo-Commerce Retail Zones overlay the trading areas of local stores with transactional data, behavioral data, and data from larger retail trade areas to pinpoint areas where relevant advertising can be delivered to high-potential consumers via mobile devices and other advertising channels.
     
    Using the Brand.net zones, grocery, drug and mass retailers can reach consumers who have the highest propensity to be in the market for a specific product as well as living or commuting through local store trading areas. According to Valassis, third-party measurement has shown that over 90% of the ad impressions delivered in the zones hit target audience households.
     
    So far, 2013 has seen a spate of new ad targeting services combining a local focus with national scale. Last week, mobile advertising technology company 4Info announced the launch of a new mobile ad targeting product, AdHaven Bullseye, that has linked 110 million mobile devices to 97 million U.S. households to enable advertisers to deliver ads with precision comparable to both online and direct mail campaigns.
  • Mail-Gard® Partners with DMI to Expand Service Offering

    End User News, |

    4/10/2013 12:00:00 AM
    Mail-Gard®, a division of IWCO Direct and one of the nation’s leading providers of critical communication recovery solutions, announced it has partnered with Data Management Internationale (DMI) to offer cloud-based document management recovery services including document capture recovery and document management system archiving.
     
    Most companies utilize some type of document management and scanning systems to capture externally generated records such as invoices, applications, claims and other customer information. Recovery of these services is an essential part of a company’s continuity program. Mail-Gard is now positioned as the only provider of print-to-mail recovery services to offer document recovery solutions. The partnership with DMI enhances Mail-Gard’s core offering of ensuring critical business documents are available anytime, anywhere, whether printed and mailed to customers, or used internally for essential business operations.
     
    “The addition of document management system recovery and scanning services is a natural extension to our Critical Communications Recovery platform,” said Jerry Montella, vice president of sales and general manager of Mail-Gard. “This partnership further strengthens our ability to ensure customers stay in compliance and in business by having access to important documents whenever they need them, from any location.”
  • Cascades Tissue Group unveils another “First” with Launch of Unbleached, 100 percent Recycled Beige Facial Tissue

    Producer News, |

    4/10/2013 12:00:00 AM

    North America's fourth largest producer of towel and tissue paper, Cascades Tissue Group, today announced an extension of its Cascades Moka line with the launch of the first-ever, unbleached, 100 percent recycled, environmentally preferable facial tissue. This new beige-colored facial tissue unique to Cascades—one of the softest of its kind on the market—follows the award-winning, January 2012 launch of the Cascades Moka bathroom tissue, which created a new category of bathroom tissue that quickly sold through its initial inventory and is now a growing category for the company.

    Just like its bathroom tissue predecessor, the new Cascades Moka facial tissue is made of a pulp mix composed of 100 percent recycled fiber, 80 percent of which is post-consumer material and—significantly—20 percent recovered corrugated boxes. Its production is also offset with 100 percent Green-e® certified renewable wind electricity and releases a minimum of 30 percent less greenhouse gas (CO2) than what is used in traditional white recycled tissues. Cascades Moka also holds certification with EcoLogo, Green Seal and the Chlorine Free Products Association.

    Ultimately, it offers commercial purchasers the highest hygienic qualities and softness while significantly reducing the environmental impact that's commonly associated with manufacturing a single-use product. A detailed life cycle analysis of the pulp mix of the Cascades Moka undertaken by the company revealed a 25 percent reduction in overall environmental impact when compared to the pulp mix used in its traditional Cascades' 100 percent recycled fiber facial tissue.

  • WTI Halts Two-Day Gain as Supplies Rise to 32-Year High

    Miscellaneous News, |

    4/10/2013 12:00:00 AM

    West Texas Intermediate halted a two-day advance as a report showed stockpiles of U.S. crude increased to the highest level since 1981.

    Futures slipped as much as 0.5 percent in New York after the industry-funded American Petroleum Institute said inventories gained 5.1 million barrels last week. An Energy Department report today may show supplies advanced 1.5 million barrels to about 391 million, the highest in 22 years, according to a Bloomberg survey of analysts. China’s net crude imports slid to the lowest in six months in March, customs data showed.

    “The second quarter is the weakest from the perspective of oil global demand,” said Hannes Loacker, an analyst at Raiffeisen Bank International AG in Vienna. Brent crude may drop further, he said. The blend slumped 5.4 percent last week.

    WTI for May delivery slid as much as 44 cents to $93.76 a barrel in electronic trading on the New York Mercantile Exchange and was at $93.81 at 12:02 p.m. London time.

  • UPM sells real estate and machinery at Aureskoski mill to Tammiwood Ltd.

    Producer News, |

    4/10/2013 12:00:00 AM

    UPM sells the real estate and machinery at Aureskoski further processing mill in Parkano, Finland, to Tammiwood Ltd. The parties have  agreed not to disclose the sales price. UPM operations at Aureskoski mill ceased in December 2012. UPM produced interior wood panels at the mill.

    Tammiwood’s major shareholder is Tammiston Puu Ltd., a Finnish company specialised in manufacturing garden products. Four employees working at Aureskoski mill will transfer to Tammiwood as permanent employees.

    “The sale of Aureskoski site has a positive effect on the economic life in the area. We think that the new owner has a good opportunity to further develop the site,” says Aki Temmes, Director, Business Control, UPM Timber.

  • Genelec chooses UPM ForMi as material for their new high-end speaker

    Producer News, |

    4/10/2013 12:00:00 AM

    One of the most well-known speaker manufacturers in the world, the Finnish company Genelec, has chosen UPM's biocomposite as the material for their new high-end speaker model. The speaker enclosure is manufactured from renewable cellulose fibre based UPM ForMi.

    "UPM ForMi fulfils our strict quality requirements and environmental criteria. The material is easy to mould and has excellent acoustic features. It does not require grinding or surface treatment, enabling a smarter and more efficient production process. This fits perfectly with our aim of leading the way in both production technology and environmental matters," says Siamäk Naghian, Managing Director at Genelec.

    Finding new alternatives for established production materials was a lengthy process for Genelec. One of the key goals was to find a sustainable and environmentally responsible material that would also guarantee pure audio quality.

  • NewPage Corporation Joins Two Sides

    Producer News, |

    4/9/2013 12:00:00 AM

    Two Sides, the fast-growing non-profit organization established to promote the responsible production, use and sustainability of print and paper, today announced that NewPage Corporation has joined the organization.

    “For a company like NewPage, a business whose products come from the forest, sustainability represents a unique opportunity to make a positive difference for our planet,” says NewPage Vice President of Marketing Steven Devoe.  “Joining Two Sides gives us the opportunity to share more broadly how NewPage is contributing to progress in areas from sustainable forestry and reduced greenhouse gas emissions to cleaner manufacturing and recycling.  Our Two Sides membership also helps expand our own efforts to correct the many common myths about the sustainability of print and paper.”

    “Print and paper have a great environmental story to tell, and Two Sides is pleased to have NewPage join our growing U.S. effort to get the word out to as many people as possible,” says Two Sides President Phil Riebel.  “Made from one of the earth’s few truly renewable resources – trees from responsibly managed forests – print and paper is the most recycled commodity in the world.  Nearly 68 percent of paper produced in the United States is recovered for recycling.   In addition, the demand for responsibly grown wood fiber to make print and paper products provides a long-term financial incentive for private landowners to manage their land sustainably instead of selling it for development – the primary cause of deforestation in the United States,” he says. “And the print, paper and mailing supply chain supports millions of U.S. jobs.”

  • Tetra Pak® net sales reach €11.16 billion in 2012

    Packaging News, |

    4/9/2013 12:00:00 AM
    Despite tough year, sales increase 4.3% and Tetra Pak continues to invest to provide customers with the right products at the right price
     
    Tetra Pak®, today announced net sales of €11.16 billion in 2012 - up 4.3 percent from 2011 in comparable terms.
     
    The company’s Packaging Solutions businesses achieved net sales of €9.87 for the year, 4.2 percent higher (comparable terms) than in 2011, with solid growth in South & Southeast Asia, Central & South America, North America, East Europe and Central Asia, and double digit growth in the Middle East and Sub-Sahara Africa.
     
    Sales from Processing Solutions reached €1.29 billion, growing 5.2% year on year (comparable terms), with double-digit growth in North Europe, South & Southeast Asia, Central & South America and Sub-Sahara Africa.
     
    “The economic situation is still tough, with growth slower than before, particularly in China and Brazil, our fastest growing economies. We’ve had to make some tough decisions over the past year to enable us to continue to invest in the development of new products, services and facilities that will enable our customers, retailers and suppliers to thrive in the years to come,” said Tetra Pak President and CEO Dennis Jönsson.
  • Paper labels and Packaging Which Interacts with Customers

    Packaging News, |

    4/9/2013 12:00:00 AM

    AR Metallizing at the brink of creating "smart", disposable metallized paper touch pads. For many consumer goods and beverage companies, labels allowing customers to effectively interact with their brand, are considered the Holy Grail. Similarly, they are seeking solutions to allow their boxed products to communicate with the consumer. With a newly developed application for metallized paper, this ambitious goal might be closer than the industry could have hoped for.

    Based on research carried out at Harvard University (researchers Mazzeo, Kalb, Chan, Killian, Bloch and Whitesides) and collaborations with institutes in Portugal and France, a specially developed paper has been demonstrated to yield sufficient capacitive properties to be used as a "touch pad", entirely made of paper. After a straightforward laser etching, followed by connection with cheap electronic interfaces, the paper can be used to detect consumer's "touch" like a smart phone's touch pad. This product, however, is at a fraction of the production cost. Also, by using metallized paper, which is re-pulpable like ordinary paper, it is environmentally friendly. Other advantages in this option include that metallized paper can be easily glued onto surfaces (like a label) or folded or laminated in three-dimensional shapes (like boxes), unlike glass surfaces or thick films.

    The researchers and AR Metallizing envisaged and tested prototypes for applications such as: touch sensitive labels, interactive book covers, food labels and boxes, interactive games on cereal boxes, multi-digit disposable code pads on shipping boxes, and even entire paper-based keyboards.

  • A. Schulman Reports Fiscal 2013 Second-Quarter Results

    Packaging News, |

    4/9/2013 12:00:00 AM

    A. Schulman, Inc. announced today financial results for the fiscal 2013 second quarter ended February 28, 2013.

    "This was the first quarter in quite some time where our Americas and Asia Pacific (APAC) segments could not offset softness in our Europe, Middle East and Africa (EMEA) segment. After several months of relative stability in our European markets, we believe our markets are experiencing another round of weakness as a result of growing economic uncertainties. This is clearly evidenced in the now volatile currency environment. While many of our anticipatory restructuring steps were initiated well in advance of these events, we are considering further SG&A reductions and additional consolidations to better align our capacity with current market demand. We are disappointed in the late-quarter decline in demand in EMEA; however, we are confident in our demonstrated ability to weather such downturns as evidenced by our track record in driving cost savings in excess of $6 million over the last three years," said Joseph M. Gingo, Chairman, President and Chief Executive Officer. "Although not entirely unexpected, we are also seeing increased global intensity with price competition and are arming our sales teams with effective tools and training to be agile and proactive in the marketplace."

    For the fiscal 2013 second quarter, net sales increased 5.3% as a result of contributions from the Company's two recent acquisitions. Combined, these acquisitions added $15 million of incremental net sales to the quarter, a 1.8% improvement in volume, and a favorable impact from foreign currency translation. Volume decreased in the EMEA and APAC segments, which experienced a 1.8% and 1.3% decline, respectively, for the quarter compared with the prior period second quarter.

    The Company reported net income for the second quarter of $11.8 million, or $0.40 per diluted share. The translation effect of foreign currency positively impacted net income for the quarter by $0.4 million, or approximately $0.01 per diluted share. The Company recognized a net favorable impact to net income of $7.0 million or $0.24 per diluted share as a result of certain tax related matters, principally associated with the net valuation allowance releases. Adjusted net income was $0.27 per diluted share. The primary driver of the variance between net income and adjusted net income was that the tax related matters only impacted earnings per share.

    Net sales for the Americas segment increased by $14.6 million, or 11.2%, to $144.2 million, primarily related to the acquisition of ECM Plastics, Inc. which contributed $9.2 million in the quarter. Volume increased 9.5%; however, gross profit in the Americas decreased 5.9% compared with the prior year. The decline in gross profit was primarily due to an unfavorable mix in the Company's specialty powders product family combined with increased manufacturing costs in anticipation of stronger future demand in Mexico.

  • Cham Paper and Delfort Group Mull Cooperative Deal in Specialty Papers Market

    Producer News, |

    4/9/2013 12:00:00 AM

    Cham Paper Group on April 3 said that it is in talks with Delfort Group on a possible collaborative deal in the specialty papers market.

    According to Cham Paper, executives from the two specialty paper producers are looking into all strategic options that could further strengthen the market position of both parties.

    Specific details of the talks were not disclosed, but Cham said it will issue a statement on the outcome of the project by the end of June 2013 at the latest.

    Based in Traun, Austria, Delfort Group produces and distributes specialty papers and has around 1,750 employees at five factories in Austria, Hungary, the Czech Republic and Finland. Similarly to the Cham Paper Group, the family-run company has a widely recognized market position in a range of areas within the specialty papers market.

    Founded in 1657, Cham Paper Group is a leading manufacturer of coated specialty papers. At its three locations in Switzerland and Italy, Cham Paper develops and manufactures specialty papers for use in the consumer goods, industrial release and digital imaging sectors.

  • Magazine Ad Pages Slip, Celeb Titles Hit Hard

    End User News, |

    4/9/2013 12:00:00 AM
    Print advertising is dwindling at consumer magazines. The Publishers Information Bureau released figures showing total magazine ad pages fell 4.9% from 33,673 in the first quarter of 2012 to 32,023 in the first quarter of 2013.
     
    Of 213 titles tracked by the PIB, 107 (50%) experienced ad page declines in the first quarter of 2013 compared to the same period in 2012, with 67 titles (31.5%) experiencing declines of 10% or more, and 26 titles (12.2%) experiencing declines of 20% or more.
     
    Although many categories suffered in the first quarter, women’s interest titles took especially heavy hits, with the lifestyle, domestic, and celebrity categories posting big losses.
     
    In the domestic category, the list of titles experiencing year-over-year declines in the first quarter included Ladies’ Home Journal, down 28.5% to 122 ad pages; Family Circle, down 14.4% to 222; and Better Homes and Gardens, down 11.9% to 249. In women’s lifestyle titles, Woman’s Day was down 11.9% to 240, while Redbook fell 10.7% to 216.
     
    In celebrity and fashion weeklies, OK Weekly was down 22.4% to 263 ad pages; In Touch Weekly was down 21.5% to 127; Life & Style Weekly was down 19.7% to 106; and Star was down 17.7% to 274.
     
    In other categories, significant ad page losses were seen at Forbes, down 19.6% to 266; Food & Wine, down 11.8% to 159; Maxim, down 36% to 53; and New York, down 17.7% to 422.
  • Spending on Custom Content at $44 Billion

    End User News, |

    4/9/2013 12:00:00 AM

    According to a study being released by the Custom Content Council and ContentWise, annual spending on custom content marketing has jumped 9 percent to $44 billion.

    According to the report, "Characteristics Study: A Look at the Volume and Type of Content Marketing in America for 2013," marketers are spending 39 percent of their budgets on content marketing campaigns, including print, email, web, video, virtual events, white papers, podcasts and e-zines.

    As to be expected, social is a major part of content marketing campaigns, with 81 percent of respondents creating content especially for that platform.

    Also according to the study, which is now in its 13th edition, funds are being directed from print vehicles to social and video, with the latter being the fastest growing segment of content marketing. "In this survey, 62 percent of respondents now report using video in their content marketing," says Lori Rosen, executive director of the Custom Content Council. "Branded video is closing in on web and print as one of content  marketing's most common forms."

    The use of print, however, remains an important segment. According to the study, the average frequency of print vehicles rose to 6 times per year, with the average page count at 30 pages—the most since the survey began. Circulation is also up slightly, to 51,000 per issue, continuing a 4-year trend.

  • Finch Paper Leads the Digital Print Conversation at Notable Inkjet Conferences

    Producer News, |

    4/9/2013 12:00:00 AM
    Finch Paper will leverage its knowledge of high-speed inkjet technology and color management at two of this Spring’s highly anticipated industry conferences.On April 9-11, Finch Paper will play a prominent role at the Inkjet Summit 2013. The Inkjet Summit is an annual, invitation-only summit designed for industry leaders who want to understand how current and future inkjet production printing technology, software and solutions will impact their business. The Finch Team will present case studies for the book, transactional and direct mail segments during the three-day summit as well as delivering a keynote address with Canon and Ricoh.
     
    On April 16, Finch Digital Application Manager Mary Schilling will give an educational presentation on color management at the annual Xplor International User Conference and Vendor Forum. Schilling leads FIT Color Management and Workflow Services which helps printers optimize their workflow — from design to finishing — to deliver consistent, repeatable color while lowering the total cost of print. Her presentation, “Paper is the First Color,” will examine how paper is a critical color in any print workflow.
  • WTI Crude Advances a Second Day; Goldman Shifts Spread Forecast

    Miscellaneous News, |

    4/9/2013 12:00:00 AM

    West Texas Intermediate rose a second day after China reported inflation eased more than forecast last month. U.S. crude stockpiles probably increased to the highest level in 22 years, a Bloomberg survey showed.

    Futures gained as much as 0.5 percent in New York after advancing the most in almost two weeks yesterday. Goldman Sachs Group Inc. (GS) said it expects supplies at the U.S. delivery hub in Cushing, Oklahoma, to shrink at the end of next month, and pushed back its recommendation for trading the discount on WTI versus Brent. U.S. crude inventories climbed by 1.5 million barrels in the week to April 5 to 390 million, according to a Bloomberg News survey before data from the Energy Department Administration tomorrow.

    “Any healthy demand for oil will have to come from Asia or the Middle East,” said Michael Poulsen, an analyst at Global Risk Management in Middelfart, Denmark. “Hopes for a Chinese money bazooka have increased.”

    WTI for May delivery advanced as much as 46 cents to $93.82 a barrel in electronic trading on the New York Mercantile Exchange, and was at $93.70 at 9:15 a.m. London time.

  • Newspaper circulation growth fueled by digital subscriptions

    End User News, |

    4/9/2013 12:00:00 AM

    Newspapers last year showed their first circulation revenue increase in nine years, with growth attributed to the recent success of paid digital circulation, according to new data compiled by the Newspaper Association of America (NAA).

    A 5% overall growth in circulation revenue was the first gain in this category for the newspaper industry since 2003. Within that total, for the companies supplying detailed breakdowns, digital-only circulation revenue grew 275%; print and digital bundled circulation revenue grew 499%.

    NAA's projections show that total U.S. newspaper media revenue declined by 2% to $38.6 billion last year from $39.5 billion in 2011. Although advertising revenue slipped 6% last year, circulation revenue grew 5% and new revenue sources not tied to conventional advertising increased by 8%. Those sources included digital agency and marketing activities, e-commerce, event marketing and commercial delivery of products other than newspapers.

  • UPM and Element Power establish a wind power development joint venture

    Producer News, |

    4/9/2013 12:00:00 AM

    UPM and Element Power have established a wind power development joint venture company in order to develop wind power production possibilities on a number of sites throughout Finland on land leased from UPM.

    “UPM is looking to develop a number of areas that could be suitable for wind power production on our land, and we have now found the right development partner. Element Power will bring world class wind development expertise to the joint venture,” says Matti Oksanen, Director, UPM Energy, New Energy Ventures.

    The aim of the joint venture is to develop the best suitable land areas owned by UPM to be ready for wind power production. UPM owns approximately 850,000 hectares of land in Finland.

  • Pearson buys-out Educomp's shareholding in IndiaCan

    End User News, |

    4/9/2013 12:00:00 AM
    Pearson today announced the buyout of Educomp’s shares in IndiaCan, the vocational training joint venture set up by the two companies in 2009. IndiaCan is one of India’s leading vocational training companies with an impressive portfolio of services delivered through an extensive network of pan-India delivery centres.
     
    The buyout of Educomp’s 50 percent shareholding in IndiaCan comes close on the heels of Pearson acquiring 100 percent stake in TutorVista, the Bangalore based education services company after earlier acquiring a majority stake.
     
    Pearson’s acquisition of IndiaCan is another milestone for its ambitions in India, where Pearson has built up a significant education portfolio in a very short span of time.
  • UPM Closes Down The Paper Machine 3 at Rauma Mill and The Paper Machine 4 at Ettringen Mill

    Producer News, |

    4/8/2013 12:00:00 AM

    UPM will permanently close down the paper machine 3 at UPM Rauma mill in Finland and  the paper machine 4 at Ettringen mill in Germany by the end of the April 2013. The number of employees is reduced by 87 in UPM Rauma mill and by 150 in UPM Ettringen mill.

    The employee negotiations concerning the closing plans were concluded in March. UPM has also concluded the employee negotitations with the employee representatives concerning streamlining the Paper Business Group and global functions in Finland.  Employee negotiations in global functions continue in several countries following local schedules and processes. The selling processes of UPM Docelles paper mill and UPM Aigrefeuille further prosessing mill in France continue.

    In the Finnish employee negotiations the argumentation of personnel reductions, schedule and change support for the redundants were discussed.

    “The employee reductions are inevitable under the circumstances. UPM will support former employees through re-employment and retraining in many ways,“ says Jyrki Ovaska, President of the UPM Paper Business Group.

    Employee reductions are a result of UPM’s need to permanently reduce paper capacity in Europe  by a further 580,000 tonnes. Current business environment also makes evident the need for streamlining of the Paper Business Group and UPM’s global functions to remain cost competitive in the new business scale. UPM announced its plans on January 17, 2013.

    The continuing challenges in European economy have significantly impacted the consumption of  paper, exacerbating the effect of structural changes in paper end-uses and resulting in further decline in the demand of graphic papers in Europe. High costs and significant overcapacity continue to challenge the industry operators in Europe.

  • Arthur Frommer buys travel guides back from Google to keep print editions alive

    End User News, |

    4/8/2013 12:00:00 AM
    Google acquired Frommer’s Travel Guides from Wiley in 2012 — and then, last month, reportedly decided to stop publishing them as print editions. Now Arthur Frommer, the 83-year-old founder of the brand, has bought Frommer’s back from Google and will continue publishing the travel guides in print and digital editions.
     
    The AP reported the news Wednesday night and quoted Frommer saying, “It’s a very happy time for me. We will be publishing the Frommer travel guides in ebook and print formats and will also be operating the travel site Frommers.com.” Google confirmed the news to Engadget, saying, “We can confirm that we have returned the Frommer’s brand to its founder and are licensing certain travel content to him.”
     
    The purchase price was undisclosed. Google reportedly paid Wiley $22 million for Frommer’s last year. The travel site Skift first reported that Google would stop publishing the Frommer’s guides in print.
     
    Frommer’s had published over 300 guidebooks since its founding in 1957.
  • WTI Rebounds Following Biggest Weekly Drop in Six Months

    Miscellaneous News, |

    4/8/2013 12:00:00 AM

    West Texas Intermediate oil rebounded after its biggest weekly drop in six months, snapping three days of losses. Brent’s premium to New York crude was near the smallest it has been since June.

    Futures gained as much as 0.9 percent in New York after falling 4.7 percent last week, the biggest drop since the period ended Sept. 21. The main rebel group in Nigeria, Africa’s largest crude producer, said it killed 15 security personnel in an attack in the southern oil-producing Bayelsa state. Net-long positions in WTI held by money managers climbed 3.2 percent in the seven days ended April 2, a report showed.

    “We really have seen the bottom in the oil price after the recent selloff,” said Christopher Bellew, a senior broker at Jefferies Bache Ltd. in London.

    WTI for May delivery advanced as much as 84 cents to $93.54 a barrel in electronic trading on the New York Mercantile Exchange and was at $93.39 at 11:13 a.m. in London. The contract slid 56 cents to $92.70 on April 5, the lowest close since March 21.

  • NewPage Economy Sheet Price Announcement

    Producer News, |

    4/8/2013 12:00:00 AM

    Effective with all new and existing orders with confirmed delivery dates of May 13, 2013 or later, NewPage is increasing the transaction price for the following coated sheet and sheeter roll products: Anthem®; Fortune®; Gusto® - all prices will increase $1.25/cwt US$/CAD$

    This increase applies to all basis weights, finishes and private label programs.

  • European Commission clears Penguin Random House combination

    End User News, |

    4/8/2013 12:00:00 AM
    Pearson and Bertelsmann today announce that they have been notified by the European Commission that it has approved the proposed merger of Penguin and Random House, without conditions.
     
    The two companies announced their agreement to combine Penguin and Random House in October 2012. The proposed merger is currently under review by a number of other regulatory authorities around the world.  To date, approval has been granted by the US Department of Justice in the US, the Australian Competition and Consumer Commission and The New Zealand Commerce Commission. Pearson and Bertelsmann continue to expect the transaction to close in the second half of 2013, after all necessary approvals have been received.
  • NPTA partners with PRINT 13

    End User News, |

    4/8/2013 12:00:00 AM

    NPTA, the association for the paper distribution industry, is pleased to announce a partnership with PRINT 13, the largest and most innovative global exhibition of digital, offset and hybrid technologies. PRINT 13 will be hosted Sept. 8-12, 2013 at McCormick Place in Chicago.

    Its partnership with PRINT 13 will allow NPTA members to receive complimentary registration to the exhibition hall to view demonstrations of the latest technologies for the graphics communications industry and network with printers, publishers, media/print buyers and creative services professionals.

    NPTA will exhibit at PRINT 13 and host a networking reception on the show floor on Tuesday, Sept. 10. Members, prospective members and invited guests are invited to attend the complimentary reception to meet NPTA volunteer leaders and staff as well as the leading paper distributors and mills from across the U.S.

  • AAA Fuel Gage & Exchange Rates

    Miscellaneous News, |

    4/5/2013 12:00:00 AM

    AAA Fuel Gage 4/05/13
    National Unleaded Regular:
    Current Average - $3.625/gallon
    Month Ago Average - $3.727/gallon
    Year Ago Average - $3.936/gallon
    Highest Recorded Average - $4.114/gallon on 7/17/08
    Diesel:
    Current Average - $4.004/gallon
    Month Ago Average - $4.111/gallon
    Year Ago Average - $4.166/gallon
    Highest Recorded Average - $4.845/gallon on 7/17/08

    Current Exchange Rates as of 4/05/13
    American Dollar to Canadian Dollar = 0.986508
    American Dollar to Chinese Yuan = 0.161207
    American Dollar to Euro = 1.292836
    American Dollar to Japanese Yen = 0.010392
    American Dollar to Mexican Peso = 0.081004

  • WTI Set for Biggest Weekly Drop Since September on Supply

    Miscellaneous News, |

    4/5/2013 12:00:00 AM

    Crude in New York traded near a two- week low, headed for its biggest weekly drop since September as more talks on Iran’s nuclear program get underway.

    West Texas Intermediate futures were little changed, poised for a 4.2 percent loss from the March 28 close, the most since the week ended Sept. 21. World powers and Iran started two-day talks in Kazakhstan and U.S. March payroll data will be released later today. Crude stockpiles in the U.S., the world’s largest crude consumer, gained more than forecast last week, to a 22- year high. Declines in London’s Brent crude may be “overdone,” according to Goldman Sachs Group Inc.

    “The market has been a bit negative about payroll figures coming later today, and the surprise could be more on the upside,” said Thina Saltvedt, an analyst at Nordea Bank AG in Oslo.

    WTI for May delivery was at $93.12 a barrel in electronic trading on the New York Mercantile Exchange, down 14 cents, at 10:25 a.m. London time. It fell 1.3 percent to $93.26 yesterday, the lowest settlement since March 21.

    Brent for May settlement on the London-based ICE Futures Europe exchange was at $106.22 a barrel, down 12 cents. It declined 0.7 percent to $106.34 yesterday, the lowest close since Nov. 2. The futures have fallen 11 percent from this year’s intraday peak of $119.17 on Feb. 8.

  • HarperCollins Canada to Acquire Select Titles From Wiley Canada

    End User News, |

    4/5/2013 12:00:00 AM
    HarperCollins Canada today announced that it has acquired a select number of Wiley Canada’s non-fiction backlist titles. The acquisition is effective immediately. The terms of the acquisition were not disclosed.
     
    Among the titles purchased are such Canadian classics as the bestselling Mother of All series by Ann Douglas, Ken Dryden’s The Game, recognized as the best book ever written on hockey and one of Sports Illustrated’s best sports books of all time, Hockey Dad, by Bob McKenzie and several cookbooks by Anne Lindsay including Smart Cooking, Lighthearted Everyday Cooking, and her most recent Lighthearted at Home: The Very Best of Anne Lindsay.
     
    "The acquisition of these titles will further strengthen our list of bestsellers in the health, sports, and how-to categories," said Iris Tupholme, Vice President, Publisher and Editor-in-Chief. "We are excited to build on the success of these outstanding works and further develop the digital market for them. We are especially happy to welcome these respected authors to our Canadian publishing program."
  • UPM's President and CEO Jussi Pesonen at the Annual General Meeting: UPM's growth businesses continue on steady course, economic environment tests structures in the European paper industry

    Producer News, |

    4/5/2013 12:00:00 AM

    UPM's President and CEO Jussi Pesonen stated his confidence in continued steady development of UPM’s growth businesses at the company's Annual General Meeting held today at the Helsinki Exhibition & Convention Centre, Finland. He also underlined the importance of improved margins and stringent cost control on Group level and in the mature European businesses to maximise the cash flow of the company.

    “A solid balance sheet and healthy dividend continue to be the cornerstones of UPM. We are reshaping UPM’s business portfolio to increase UPM’s earnings and valuation for the benefit of all stakeholders,” said Pesonen.

    Pesonen highlighted that since 2007, UPM’s Pulp, Energy, Label and Asian Paper Business have grown by 43 % in the topline. Despite the economic slowdowns during the period, these businesses have shown positive and profitable growth figures.

    “UPM’s growth businesses’ sales today exceed EUR 4.4 billion and we have confidence in further profitable growth with measured steps. Our target is that more than half of our sales will derive from the well performing growth businesses on the latter half of this decade.”

    “Meanwhile sales of our mature businesses Paper, Timber and Plywood have come down by 11 % since 2007. During year 2012 we were able to achieve a small improvement in the EBITDA of our mature businesses but we will continue to focus on securing cash flow and competitiveness in these businesses.”

  • Recycled and wood fiber in printing papers: both can be equally sustainable

    Environmental News, |

    4/5/2013 12:00:00 AM
    The topic of using recycled fiber in printing papers is being discussed more actively within the Two Sides network these days due to the notion that “more recycled content in printing papers is better for the environment”.
     
    I would add: “it depends on the situation”.  I say this because generalizing the benefits of recycled fiber use can be misleading due to the many environmental and economic factors at play in the life cycle of paper products.  In other words, wood-based paper grades can be equally or more sustainable if they are being produced responsibly.
     
    We do need to talk about sustainability in this case because buying paper to make printed products involves both economic and environmental considerations. (1)
     
    Recovering and recycling paper products is a good thing.  It reduces waste to landfill and extends the use of a valuable raw material.  In turn, recovered paper should be re-used as a raw material in products in the most sustainable way possible.  That may or may not include high-end printing papers (ex: catalogs and magazines).
     
    There are industry arguments on both sides of the coin.  There are many who say that one of the most sustainable ways to use recovered paper is in lower quality grades of paper (ex: carton board, paperboard) where less processing and no de-inking is needed.  This typically also means less cost and less environmental concerns.  Others point out that high quality recovered paper (if available) should be re-used to make printing papers due to its high content of long (Kraft) fibers.  In either situation, the right conditions must be in place to make it environmentally and economically sustainable.
  • Rite Aid Reports Same Store Sales for March

    End User News, |

    4/5/2013 12:00:00 AM

    Rite Aid Corporation today announced sales results for March.
     
    For the four weeks ended March 30, 2013, same store sales decreased 2.0 percent over the prior-year period. March front-end same store sales increased 3.8 percent, with 3.0 percent of the increase attributable to a shift in the timing of Easter, which fell on March 31 this year compared to April 8 last year. Pharmacy same store sales, which included an approximate 566 basis points negative impact from new generic introductions, decreased 4.5 percent. Prescription count at comparable stores increased 0.3 percent over the prior-year period.

    Total drugstore sales for the four-week period decreased 2.5 percent to $1.939 billion compared to $1.989 billion for the same period last year. Prescription sales accounted for 67.6 percent of drugstore sales, and third party prescription sales represented 97.0 percent of pharmacy sales.

  • The New Yorker Launches Science and Technology Pages

    End User News, |

    4/5/2013 12:00:00 AM
    Like a number of general interest magazine brands, The New Yorker magazine is trying to cultivate more vertical audiences and advertisers special new sections online. This week the site launched what it calls a science and technology hub that features some of the magazine staffs relevant writing on the topic. At the same time it introduces a new blog entitled Elements to include ongoing commentary on science and technology topics.
     
    Some of the magazine’s writers such as Michael Specter, Ken Auletta, John Seabrook, Elizabeth Kolbert and Gareth Cook will have writing highlighted here. The magazine will also begin to its own archives to bring back prominent and prescient science and technology coverage from the magazines long history. At the science and technology hub, Joshua Rothman offers a retrospective on nine decades of science coverage in the magazine.
     
    The launch sponsor for both the science and technology hub and the Elements blog is Siemens.
  • Ahlstrom reinforces its focus on wallcoverings

    Packaging News, |

    4/5/2013 12:00:00 AM

    Ahlstrom, a global high performance fiber-based materials company, strengthens its focus on wallcoverings by continuing to invest in product development and production. Ahlstrom is a world leader in the production of materials for wallcoverings.

    As part of Ahlstrom EasyLife(TM) product offering, Ahlstrom has developed a nonwoven wallcovering substrate at its Osnabrück plant in Germany. The products have been very well received by customers, and the product range will be expanded during this year with a number of new product launches.

    In line with these product developments, an investment program has been carried out to ensure the high quality standards and efficiency needed. "We are fully committed to serving our customers from Osnabrück as well as developing the nonwoven product offering further and completing ongoing investments on the production line at the plant," says Laura Raitio, Executive Vice President, Building and Energy.

    Ahlstrom is a global leader in wallcover substrates, offering the most comprehensive product range on the market. Its materials are manufactured in Europe and North America and are part of Ahlstrom's Building and Energy business area. In order to further support the development of the Chinese wallcovering market, Ahlstrom will start manufacturing nonwoven wallcover substrates in Binzhou, Shandong province in China. Production of the high quality and innovative wallcover substrates will start during the second half of 2013.

  • MWV Reinforces Commitment to Certified Wood Including Preference for Wood Certified by the American Tree Farm System

    Packaging News, |

    4/5/2013 12:00:00 AM

    MeadWestvaco Corporation, a global leader in packaging and packaging solutions announced its preference for purchasing certified wood – specifically wood that is certified under the American Tree Farm System® (ATFS).

    MWV has a long standing commitment to sustainable forest management. The company certifies its forestlands under the Sustainable Forestry Initiative® (SFI) and also purchases wood fiber from responsible third-party suppliers. Forest certification and promoting markets for certified fiber is one way MWV demonstrates its commitment to sustainable forest management.

    MWV’s commitment is also visible in its corporate sustainability goals, which include a specific goal of increasing the amount of certified fiber used across MWV’s global manufacturing operations. Within the United States, the source of fiber for these facilities is primarily non-industrial, privately-owned forestland and fiber from well-managed family forests; a vitally important component of this program. The American Tree Farm System provides the mechanism to increase certified fiber from family forests.

    The American Tree Farm System represents more than 89,000 family forest owners who sustainably manage 27 million acres of forestland in the United States. It is the largest and oldest forest management system in the United States and is a program of the American Forest Foundation. Along with the Sustainable Forestry Initiative® program, the ATFS standard has been endorsed under the Programme for the Endorsement of Forest Certification, a global program that recognizes excellence in sustainable forest management.

  • Xerox’s New iGen4 Delivers More Automation, Production Efficiencies; Printers Gain Competitive Edge

    Printer News, |

    4/4/2013 12:00:00 AM

    Technology that keeps print operations profitable is in high demand. Xerox is answering that call with the next generation of its award-winning iGen4® platform – the Xerox iGen4 Diamond Edition.

    With the iGen4 Diamond Edition, job setup is easier and production times are faster, giving print solution providers a competitive edge when producing brochures, catalogs, magazines and direct mail pieces. The newest iGen4 also has precise, repeatable color image quality so the first printed piece looks the same as the last one – a must when matching corporate colors and logos.

    Many of the enhancements of the iGen4 Diamond Edition are time saving, automated features found on the Xerox iGen® 150 Press, including the 26" stacker and color maintenance that takes the complexity and manual labor out of analyzing colors.

    All the enhancements of the iGen4 Diamond Edition will be available to current iGen4 customers, including:
    ¦ Automatic Image-to-Paper Setup – manual setups are replaced with a predictable, automated routine, eliminating time consuming paper registration adjustments.

    ¦ IntegratedPLUS Finishing Solution for Booklets – using JDF technology, booklet production is simplified with one touch job submission and prepress through automated finishing setup.

    ¦ Automate Order Acquisition – with StoreFlow, web-to-print software from XMPie®, A Xerox Company, users can create profitable B2C storefronts and B2B portals for ordering static, customized and personalized print pieces. StoreFlow can be integrated with FreeFlow® Process Manager to automate prepress file preparation.

    ¦ Increased Efficiency – with either the EFI Fiery Controller or Xerox FreeFlow Controller, the iGen4 Diamond Edition can handle various workflow solutions to increase production efficiency.

  • Turner Publishing Acquires Pets, Crafts, and Other Titles from Wiley’s General Interest Consumer Publishing Program

    End User News, |

    4/4/2013 12:00:00 AM

    Turner Publishing today announced that it has acquired assets from John Wiley & Sons, Inc.'s (NYSE: JWa, JWb) pets, crafts, and general interest consumer publishing program. The terms of the acquisition, which closed April 2, 2013, were not disclosed.

    Turner acquired the digital and print assets for approximately 1,500 Wiley titles from its consumer pets, crafts, and general interest publishing programs.  Notable brands, authors, and titles include Howell Book House and Baseball Prospectus.

    "This strategic acquisition broadens Turner's list, which spans a wide variety of fiction and nonfiction consumer publishing categories and represents an exciting growth opportunity within the crafts, pets, and general interest areas," said Todd Bottorff, President and Publisher of Turner Publishing. "The combination of Wiley's titles with our existing programs will significantly strengthen Turner's market position as a consumer publisher." Turner is a fully integrated publishing company that has produced over 1,000 titles since 1984 in a wide range of fiction and nonfiction categories including home & gardens, health & wellness, history, politics, & current affairs, and self-improvement, among many others.

    "We believe that Turner Publishing is well-positioned to provide the strategic focus required for these assets to achieve their full potential and continue to flourish,” said Mark Allin, Wiley's Senior Vice President, Professional Development. "While these assets have contributed to Wiley's success to date, Wiley is reshaping its portfolio to support growth opportunities in global research, education and professional practice, and create products and services that help customers become more effective throughout their education and careers."

  • Walgreens March Sales Increase 2.3 Percent

    End User News, |

    4/4/2013 12:00:00 AM

    Walgreens had March sales of $6.16 billion, an increase of 2.3 percent from $6.02 billion for the same month in fiscal 2012.

    Total front-end sales increased 5.4 percent compared with the same month in fiscal 2012, while comparable store front-end sales increased 4.2 percent. Customer traffic in comparable stores decreased 1.3 percent while basket size increased 5.5 percent.

  • Monadnock Recertified ISO 14001:2004 Environmental Management System

    Producer News, |

    4/4/2013 12:00:00 AM

    Monadnock Paper Mills, Inc., manufacturer of technical specialty and premium printing and packaging papers, recently achieved recertification for compliance with ISO14001:2004, the leading international standard for environmental management systems (EMS). Systems and Services Certification, a member of the SGS Group and leader in third-party registration, conducted a comprehensive independent audit of Monadnock’s Bennington, New Hampshire, facility and granted recertification. Monadnock successfully met the ISO14001 EMS requirements and demonstrated the processes to maintain that system.

    Monadnock began building its environmental management system in 2003, with the assistance of the EPA, and was first certified in 2006. Monadnock has continued to make improvements in the areas of recycling, energy conservation, materials management, water conservation, solid waste reduction, emission reduction, and pollution prevention. Over the past three years, Monadnock has realized a 14 percent reduction in water consumption and a 7 percent reduction in electricity use.

    It is rewarding to once again have this third-party validation of our hard work,” said Monadnock Chairman and CEO Richard Verney. As Monadnock continues to win accolades for its innovations in sustainability, Verney said, “There is always more work to be done. We are committed to sustainable innovation and remaining ahead of this curve.”

  • Reselling digital goods violates copyrights, a federal judge rules

    End User News, |

    4/4/2013 12:00:00 AM

    While you can sell your used hardcover copy of “The Life of Pi” or your vinyl edition of “The Yes Album” on Amazon.com, eBay.com or a host of other online sites and physical stores, you can’t sell your e-book or MP3 version of either, according to a recent federal judge’s ruling.
     
    The case, Capitol Records LLC v. ReDigi Inc., dealt with whether consumers can resell digital goods.
     
    Founded in October 2011, ReDigi bills itself as an online marketplace for digital used music where consumers can upload and resell songs they buy from Apple Inc.’s iTunes. ReDigi’s defense said that when a consumer makes a digital album available for sale, the file is transferred onto its servers and the company’s technology confirms the consumer’s original file was deleted from the seller’s computer.

    But Judge Richard J. Sullivan of the U.S. District Court for the Southern District of New York ruled that ReDigi’s secondary market for digital music infringes on record companies’ copyrights. In his opinion, handed down Saturday, Sullivan reasons that while ReDigi claims to migrate a file from a user’s computer to its own servers, that technology does not mean a consumer is selling a “material object” that he purchased. “It is simply impossible that the same ‘material object’ can be transferred over the Internet,” he wrote.
     
    Instead, Sullivan wrote, the digital file a consumer bought is reproduced onto ReDigi’s server, which violates U.S. copyright law that gives copyright owners the exclusive right to reproduce, distribute or sell copyrighted material.
     
    While ReDigi claimed that “first sale doctrine”—the common law principle that someone who buys an item can do what he wants with it—Sullivan countered that the doctrine does not cover unlawful reproductions. “The first sale defense does not cover this any more than it covered the sale of cassette recordings of vinyl records in a bygone era,” he wrote.

  • TFT Verification Report Shows Asia Pulp & Paper Moratorium Intact

    Producer News, |

    4/4/2013 12:00:00 AM

    Asia Pulp & Paper Group (APP) has issued a report showing that allegations of its Forest Moratorium being violated are unfounded.

    The report has been issued following a complaint received from a consortium of local NGOs (Relawan Pemantau Hutan Kalimantan / RPHK) that two of its suppliers were clearing natural forest in West Kalimantan Province, in direct contradiction to the APP’s Forest Conservation Policy announced on February 5th. The cornerstones of this policy are a commitment to zero deforestation throughout APP’s supply chain, and a clear grievance procedure.

    On the day of the complaints, APP stated, “We, and our partner TFT, are investigating these allegations, and in the interests of complete transparency, will publish our findings as soon as they are available.” The company added that it could not draw a conclusion until it had all the facts to hand.

    APP has now received The Forest Trust’s (TFT) full technical report available here: It includes accurate GPS mapping of the areas under investigation, records of discussions with the contractors on-site, and analysis of ground level activity as well as examination of inter-company relationships.

    The two allegations made are related to activities carried out by DTK (PT Daya Tani Kalbar) and ATP (PT Asia Tani Persada), both of which are suppliers to APP. In both cases there was clearance of natural forest being undertaken, but in neither instance was the clearance related to APP. Therefore neither APP, nor its suppliers are in breach of its moratorium.

    In both cases, however, the over-riding issue is concession overlap. So far as DTK is concerned, clearance was for the development of a palm oil plantation owned by a company, Gerbang Benua Raya (GBR). There is evidence of old land clearance, and there are oil palms that are about 18-months old.

  • Nature Conservancy Magazine Takes Ads for First Time

    End User News, |

    4/4/2013 12:00:00 AM

    Nature Conservancy magazine, the member benefit of the environmental conservation organization of the same name, has begun accepting advertising for the first time in its history. The switch coincides with a frequency upgrade from quarterly to bimonthly. Ads will appear both in the magazine and on its website.

    Sales have been outsourced to James G. Elliott Co., Inc., and publisher Teresa Duran says the decision enables the organization to diversify revenues in a way that allows more funds to be channeled to issues of interest to donors.

    "We saw an opportunity to welcome advertisers to our mix of partners and direct our members' donations to the issues they care about by offsetting costs through the ads," she says.

    The magazine's circ is a substantial 650,000 and reader research has revealed a median household income of $85,000 and interests in travel and sustainable living, in addition to the obvious commitment to conservation issues. The April issue which is the first to have the advertisements, has four ad pages, with most from the travel category.

    The magazine's app, which launched a year ago as a free, iPad-only product, will also be getting some added marketing push. Current downloads are at about 12,000, but Duran says they're going to begin marketing more heavily to the print magazine's circulation, as well as the more than 400,000 digital readers who get email newsletters from the organization.

  • Brent Rises After Closing at Four-Month Low

    Miscellaneous News, |

    4/4/2013 12:00:00 AM

    Brent crude rose amid speculation yesterday’s 3.2 percent slide was exaggerated given efforts by central banks around the world to revive their economies.

    Brent climbed as much as 0.5 percent in London, after a decline that drove it to its lowest closing level in four months. West Texas Intermediate swung between gains and losses after posting its sharpest loss this year following data showing U.S. stockpiles rose to the most in almost 23 years.

    “Today is the day after the day before, where the most likely move is a retracement from the losses yesterday,” Ole Hansen, head of commodity strategy at Saxo Bank A/S in Copenhagen, said today by phone. “Yesterday there was weaker U.S. data, high oil inventories and negative performance on the stock market, all three of which pulled the rock from underneath the crude price.”

    Brent for May settlement on the London-based ICE Futures Europe exchange was at $107.39 a barrel, up 28 cents, at 10:45 a.m. London time.

  • Arjowiggins graphic launches the innovative 100% recycled High speed inkjet paper portfolio

    Producer News, |

    4/4/2013 12:00:00 AM

    Arjowiggins Graphic has announced the launch of its Innovative 100% recycled High speed Inkjet paper portfolio, a range of OEM qualified and sustainable products designed to run on all Inkjet digital presses including the latest generation of machines. Once again Arjowiggins Graphic meets market demand and continues to lead industry innovation with an exciting new range of 100% recycled papers, engineered specifically for inkjet colour printing.

    “This Inkjet Portfolio complements the rest of our digital product offering. We see this product range as an innovative and alternative solution for printers and their Corporate clients. These specially engineered, premium quality web inkjet papers are already creating profitable new markets in transpromo and direct mail, with increasing commercial print applications,” said Jean Charles Monange, sales and marketing director, Arjowiggins Graphic.

    The Cocoon and Cyclus Jet families provide a unique combination of high quality performance at full press speed and Improve color depth in combination with ink consumption reduction.

    Our portfolio includes a choice of coated and uncoated papers with a range of high whiteness and grammages.

  • Adobe Study: Is Paper Now on the Endangered Species List?

    End User News, |

    4/4/2013 12:00:00 AM

    New research unveiled today by Adobe Systems Incorporated reveals important new insights from U.S. managers around digital business processes and paper.  According to the study, “Paper: An Endangered Species?” the majority of the managers surveyed had overwhelmingly negative attitudes toward traditional paper-based processes and cite productivity, security, attracting talent and going green as the benefits of a completely digital workflow. The research is based on interviews with 1,051 U.S. managers in small, medium and large businesses.

    “Printers, scanners, and fax machines are killing business productivity,” said Jon Perera, vice president, EchoSign, Adobe. “Successful organizations are quickly moving towards paperless-based approaches for their critical business processes. This is about driving revenue, cutting costs, improving security, and reducing environmental impact.”

    Paper processes hinder productivity and increase costs
    The study revealed that paper can be a hindrance to productivity as more than one-half of managers believe that digital approaches simplify work, are easy to use and allow them to be more efficient. Further, companies slow to adopt fully digital practices are at a disadvantage when it comes to growing their businesses and ultimately attracting new customers: 
    •51% of respondents said that a digital workflow makes filing and managing documents easier;
    •61% of managers said working digitally saves on costs;
    •32% said a digital workflow is more efficient, giving them an edge with client work and ultimately helps win new business.

  • Sappi Fine Paper donates $100,000 to University of Maine Pulp and Paper Foundation for scholarships

    Producer News, |

    4/3/2013 12:00:00 AM

    Sappi Fine Paper North America has donated $100,000 over the course of four years to the University of Maine Pulp and Paper Foundation to establish an endowed scholarship fund for engineers. The Sappi Scholarship Fund is a Leadership Gift to the University of Maine Pulp and Paper Foundation's $2 million fundraising campaign, which begins this year.

    Sappi's gift is made in recognition of the long-standing relationship between the company and the University of Maine. "Our relationship to the Pulp and Paper Foundation, the College of Engineering and University of Maine overall has just been excellent," says Mark Gardner, President and Chief Executive Officer, Sappi Fine Paper North America. "The campaign offers a wonderful opportunity for our company and other businesses to partner with the University of Maine in supporting students as they pursue careers in an industry that continues to be a powerful economic engine for Maine."

    Sappi Fine Paper North America has supported the University of Maine Pulp and Paper Foundation since its inception in 1950. The company is a member in the Foundation, supports the foundation's Consider Engineering Program, provides internship and co-op positions for undergraduate engineering students, and ultimately hires qualified University of Maine graduates.

  • Quad/Graphics Makes Multimillion-Dollar Investment in Direct Marketing Platform

    Printer News, |

    4/3/2013 12:00:00 AM

    Quad/Graphics, Inc., is strengthening its direct marketing platform and solutions this year with multimillion-dollar investments in mail processing, including creating two regional commingling centers to drive greater postal savings and efficiencies for direct mail marketers; investing in a new custom web press and other equipment upgrades in its Effingham, Ill., plant; and adding print capabilities to its Westampton, N.J., plant.

    “Direct mail continues to be one of the most powerful ways to drive consumer response, and we have the solutions today’s marketers need to acquire and retain customers, and grow their business,” said Steve Jaeger, President of Quad/Graphics Direct Marketing. “With these new investments, we advance our commitment to helping direct marketers maximize the revenue from their print spend while minimizing their total cost of production and distribution.”

    New Regional Commingling Centers
    Quad/Graphics will enhance its well-established commingling capabilities with the creation of two new regional commingling centers: A Midwest center in New Berlin, Wis., and an East Coast center at its existing direct mail production plant in Westampton, N.J.

    The commingling process merges individual mail pieces together to improve presort discounts and dropship savings, reducing postal handling and delivery time. “Postage is typically our clients’ single largest production-related expense and can be as much as 60 percent of their budget,” Jaeger said. “By consolidating direct mail volume into these two new mailing centers, Quad/Graphics will help our clients qualify for greater postal discounts.”

  • It's Confusing Being Green

    Environmental News, |

    4/3/2013 12:00:00 AM
    It’s not easy being green, particularly when the information about getting the most benefit of environmentally friendly products is hard to find and confusing.
     
    According to new data from Cone Communications, nearly three-quarters of consumers (71%) said they consider the environment when shopping, up from two-thirds (66%) five years ago. Indeed, nearly half of all consumers (45%) actively seek out environmental impact information of the products they’re buying.
     
    At the same time, however, many of these consumers are still unclear about their role in achieving the full environmental benefit of certain products. Although 90% of consumers say they feel it’s their responsibility to properly use and dispose of these products, only 30% say they often use products in a way that achieves the intended environmental benefit, and only 42% say they dispose of products in a manner for full environmental benefit.
  • 27 Magazines Launched In Q1

    End User News, |

    4/3/2013 12:00:00 AM

    A total of 27 new magazines launched in the first quarter of 2013, while nine titles closed.
     
    New titles launched in the first quarter of 2013 include Glam Belleza Latina, a Spanish-language publication targeting Hispanic women produced by Glamour, as well as The Veil, a new bridal mag, and Politico Pro Magazine, a print magazine produced by the well-known political blog of the same name.
     
    Four business-to-business titles launched in the first quarter as well, including IR Quarterly, a trade publication for the medical field of interventional radiology.
     
    All the findings are per MediaFinder.com, an online database of U.S. and Canadian publications owned by Oxbridge Communications.
     
    Both figures are down from the first quarter of 2012, when 52 new magazines launched and 12 closed. For the full year 2012, MediaFinder.com tallied 227 new magazine launches, while 82 magazines closed in the same period.

    The list of magazines that closed includes Garden Design, folded by Bonnier Corp. in February, and The Boston Phoenix, an alternative weekly serving Boston that printed its last edition in mid-March after 47 years in publication.

  • WTI Crude Drops as U.S. Oil Stockpiles Gain

    Miscellaneous News, |

    4/3/2013 12:00:00 AM

    West Texas Intermediate fell for the second time in three days after data showed U.S. crude stockpiles rose the most in four weeks and a government order prevented the restart of a pipeline to the Texas Gulf Coast.

    Futures slid as much as 0.7 percent in New York after gaining 0.1 percent yesterday. Crude inventories climbed 4.7 million barrels last week, the most since the seven days ended March 1, according to data from the American Petroleum Institute. A government report today may show supplies increased 2.1 million barrels. Exxon Mobil Corp.’s Pegasus pipeline, which runs from the U.S. Midwest to Texas refineries, will remain shut until regulators are satisfied with repairs.

    “Crude builds are normal at a time of high seasonal refinery maintenance,” said Amrita Sen, chief oil market strategist at Energy Aspects Ltd., a research company in London whose forecast for oil in the first quarter was within 0.6 percent of actual price levels. “The longer the Pegasus outage lasts, the more it is likely to weigh on WTI.”

    WTI for May delivery declined as much as 68 cents to $96.51 a barrel in electronic trading on the New York Mercantile Exchange and was at $96.79 at 10:59 a.m. London time.

  • JoS. A. Bank Clothiers Reports Fiscal Year 2012 Results; Sales Up, Profits Still Good, But Not Up to Normal Levels

    End User News, |

    4/3/2013 12:00:00 AM
    JoS. A. Bank Clothiers, Inc. announces today the results for its fiscal year ended February 2, 2013 ("fiscal year 2012").
     
    Net sales reached a record of $1,049.3 million in fiscal year 2012, representing a 7.1% gain as compared with net sales of $979.9 million in fiscal year 2011. Comparable store sales decreased 0.5% during fiscal year 2012, while Direct Marketing sales increased 22.7%. Combined comparable store and Internet sales in fiscal year 2012 increased 2.0% when compared to fiscal year 2011.
     
    Net income for fiscal year 2012 was $79.7 million, as compared with net income of $97.5 million for the fiscal year ended January 28, 2012 ("fiscal year 2011"), a decrease of 18.3%. The Company previously announced that net income for fiscal year 2012 was expected to be approximately 20% lower than net income for fiscal year 2011. Earnings per share for fiscal year 2012 were $2.84 as compared with earnings per share of $3.49 for fiscal year 2011.
  • Canadian publisher sets paper procurement standards

    End User News, |

    4/3/2013 12:00:00 AM
    Torstar Corporation, publisher of the Toronto Star newspaper and Harlequin books, has launched corporate environmental purchasing principles to encourage suppliers to eliminate the use of fiber from ancient and endangered forests, and empower its business units with the option of expressing a preference for post-consumer recycled fiber. The company’s principles also encourage improvement of all forest certification systems with Forest Stewardship Council certification (FSC) as the target standard.
     
    These principles apply to Harlequin, known globally for the publication of romance novels, as well as the Star Media Group and Metroland Media Group, which together publish over 125 newspapers across Canada. Harlequin publishes more than 110 titles a month in more than 114 international markets on six continents.
     
    Canopy, an environmental not-for-profit organization, collaborated with Torstar for several years and was engaged to support and advise on the development of these principles over the last 8 months.
     
    “Torstar's readers can now start their day with a hot cup of coffee and the newspaper and end it with an equally steamy romance novel, knowing that our planet's forests are better off," said Nicole Rycroft, Canopy founder and executive director. “As a global publishing leader, Torstar deserve congratulations for their corporate-wide approach to protecting forests through strong principles that guide their paper procurement," she said.
  • Smurfit Kappa invests in new machine for Italian plant

    Packaging News, |

    4/2/2013 12:00:00 AM

    Smurfit Kappa has invested in a new seven colour high board line printer die cutter for its Lunata plant in Italy.

    This investment is part of the Company’s continued innovative and sustainable approach.

    Supplying major national brands, pan–European customers and a wide range of customers worldwide, the Smurfit Kappa plant in Lunata aims to leverage its skills in print into the wider corrugated market, providing higher quality prints at a greater volume. 

    With this new investment Smurfit Kappa will increasingly support its customers in achieving their business objectives.  Businesses will be given the opportunity to differentiate their products from competitors in an increasingly competitive marketplace. Products will be given a level of visibility never achieved in this sector, and customers will sell more with attractive and eye-catching packaging. 

  • Sappi Fine Paper North America Publishes eQ Journal 005: Rethinking Recycling

    Producer News, |

    4/2/2013 12:00:00 AM

    Sappi Fine Paper North America today announced the release of eQ Journal 005: Rethinking Recycling, distinguishing between the facts and general misconceptions surrounding recycling and the paper life cycle. In this fifth edition of the company's eQ series, the Journal sheds light on the benefits of recycling while challenging the common assumption that paper produced with a high percentage of recycled fiber is always better for the environment.

    "The use of recycled fiber is not a one size fits all solution. We should examine not just what's in our paper, but take into consideration the sourcing of materials, the environmental impact of manufacturing, and understand what happens to paper as it moves through the life cycle," said Laura Thompson, Ph.D., director of sustainable development and technical marketing, Sappi Fine Paper North America. "With this latest eQ Journal, we invite our community to look at the bigger picture of recycling – the way we do at Sappi – to ensure our industry is putting recycled fiber to its best use, finding the most appropriate options that produce lower emissions and higher yield."

    In fact, a study of our Somerset Mill included in the Journal revealed that adding 10 percent recycled content increases the product's carbon footprint by 16 percent, compared to the same product made with 100 percent virgin fiber. More details on the study findings, as well as other industry statistics comparing the carbon footprints of different pulp sources using a comprehensive Life Cycle Analysis (LCA) can be found in the Journal.

    In addition to revealing the trade-offs associated with recycled fiber, this fact-based publication also promotes best practices of recycling, raising awareness of practical ways consumers can reduce their environmental impact of using printed materials. As part of this edition, Sappi provides a series of custom-designed recycling logos available for download on our eQ microsite, inviting everyone–especially corporate marketers and graphic designers–to get creative about promoting the initiative to reduce, reuse, and recycle.

  • Marketers Continue To Embrace Frugality

    End User News, |

    4/2/2013 12:00:00 AM
    Marketers are continuing to employ cost savings and reductions, according to the 2013 Association of National Advertisers Recession Survey.
     
    The outlook indicates a “new normal” for marketing budgets, which have been constrained by the faltering economy of the last several years.
     
    A vast majority of marketers (82%) continue to push for reductions, according to the seventh edition of the survey. Two-thirds of the 82% plan to reduce their marketing budgets by up to 10% this year, which is comparable to 2012.
     
    This is somewhat more favorable than the low point of the recession in 2009, where nearly two-thirds (62%) said they planned to reduce budgets by 11% or more.
     
    The industry can expect to see continued pressure on budgets in coming years, despite improvements to the economy. While 44% of marketers saw their budgets decrease over the past six months, more than half (56%) believe their budgets will stay the same over the next six months.
     
    “The ‘new normal’ for marketers is an environment that challenges brands to grow earnings through improved marketing effectiveness and increased spending efficiencies to cut costs,” said Bob Liodice, ANA’s president and CEO, in a release. “Companies expect technology, expanding media platforms and better decision making to better enable marketers to pursue earnings growth objectives.”
  • Hearst Magazines Receives 9 Nominations for National Magazine Awards

    End User News, |

    4/2/2013 12:00:00 AM
    The American Society of Magazine Editors (ASME) today announced the finalists for the 2013 National Magazine Awards. Known as the Ellies—for the Alexander Calder stabile "Elephant" given to each award winner-—the National Magazine Awards will be presented on Thursday, May 2, at the New York Marriott Marquis.
     
    The May 2 gala will also include the presentation of the Creative Excellence Award to Milton Glaser and Walter Bernard, whose work as graphic designers has shaped the modern magazine. The Creative Excellence Award was established in 2008 by ASME to recognize writers and artists who have made unique and enduring contributions to magazines.
     
    Sixty-two publications were nominated this year in 23 categories. Twenty-six magazines received multiple nominations, led by National Geographic with seven, followed by Bon Appétit and New York, both with six. GQ and The New Yorker both received five nominations; Esquire, Harper's Magazine, Mother Jones and Texas Monthly all received four.
     
    Magazines with multiple nominations also include The Atlantic (3), Saveur (3), TIME (3), Wired (3), Bloomberg Businessweek (2), Byliner (2), Golf Digest (2) Los Angeles (2), Martha Stewart Living (2), The New York Times Magazine (2), Outside (2), The Paris Review (2), Real Simple (2), Scientific American (2),Slate (2), Sports Illustrated (2) and W (2).
     
    Six publications are first-time finalists: Afar for Website; Bullett for Design; Byliner for Feature Writing and Fiction; HGTV Magazine for Magazine Section; mental_floss for General Excellence, Print; and Pitchfork for General Excellence, Digital Media.
     
    Finalists in the Magazine of the Year category, honoring excellence both in print and on digital platforms, will be announced on Monday, April 8.
  • TeamRock Acquires Classic Rock And Metal Hammer From Future plc

    End User News, |

    4/2/2013 12:00:00 AM
    Future plc today agreed the sale of its rock brands Classic Rock and Metal Hammer to TeamRock Limited, (TeamRock) the new international multi-media content creation and distribution business.
     
    The £10.2m sale includes all the brand extensions of the magazines alongside internationally famous branded events, The Golden Gods and The Classic Rock Roll of Honour.
     
    TeamRock is a new company formed to provide and create premium content to rock music fans across the world via digital platforms and through the Classic Rock and Metal Hammer titles. It brings together a team of leading executives to create a worldwide platform for this large but underserved community.
     
    Billy Anderson, TeamRock Chief Executive, says: “We are delighted to acquire these wonderful brands that will play a significant part in the development of our larger business. They come with a great team led by Chris Ingham and we look forward to investing further in their development.”
     
    John Myers, TeamRock Executive Chairman, adds: “This is a great business and is the first building block of our wider ambitions. We expect to announce further developments within the next day or so.”
     
    Mark Wood, Future Chief Executive, comments: “Classic Rock and Metal Hammer are highly successful and well-managed parts of Future, but they have not been centre stage in our current growth strategy. They are great brands with a great team and I am confident they will continue to flourish under new investment from Team Rock.”
  • Record numbers sign up for World Book Night

    End User News, |

    4/2/2013 12:00:00 AM
    World Book Night has had a record number of givers sign up, with more than 23,000 people volunteering to hand out books in their communities.
     
    More than half of the applicants have never taken part in the event before, with people applying from across the country, including the Scilly Isles and Outer Hebrides.
     
    Taking place on April 23rd, World Book Night will see delivery service Yodel distribute 400,000 books to giver collection points, while a further 100,000 books will be sent directly to hospitals, prisons and care homes in an attempt to reach communities with low literacy levels.
     
    World Book Night c.e.o. Julia Kingsford said: “World Book Night is all about making connections—between authors and readers, between readers and emerging readers, between bookshops, libraries and the communities they share and between everyone with great books and stories."
  • Bonnier’s Saveur and Field & Stream Named National Magazine Awards Finalists

    End User News, |

    4/2/2013 12:00:00 AM

    Bonnier Corp. has been nominated for four coveted National Magazine Awards. Saveur garnered three nominations, while Field & Stream picked up one. The American Society of Magazine Editors (ASME) today announced the 2013 finalists for what is considered the magazine industry's highest honor.

    Saveur was named in the General Excellence category for Lifestyle Magazines. This marks the second time in three years (and ninth time overall) that the magazine has been nominated in the highly competitive General Excellence category, widely regarded as the industry's top prize.

    Saveur is also nominated in the Single-Topic Issue category for its August/September The Mexico Issue, and in the Video category for its Master Class Video Series, including "How to Make Salsa Verde with Avocado," "Martin Yan Makes Scallion Pancakes" and "How to Make the Perfect Tempura."

    "It's such a great honor to have received these three nominations — a testament to the excellence and passion that the Saveur editorial staff brings to the table every day," said Saveur Editor-in-Chief James Oseland. "It's especially moving that our Mexico issue received a nod. At a time when a lot of other companies would have been uncomfortable dedicating so much real estate to a single place, Bonnier courageously stood behind us."

    These three nominations come after Saveur's win last year in the Leisure Interests category for the feature "Italian America" from its December issue. With five National Magazine Awards to its name, the magazine has now received 23 ASME nominations.

    Field & Stream is nominated in the Multimedia category for "The Best Days of the Rut 2012" from its November print issue and "The F&S Rut Reporters" at fieldandstream.com and for the iPhone.

  • WTI Oil Little Changed; U.S. Crude Stockpiles Seen Rising

    Miscellaneous News, |

    4/2/2013 12:00:00 AM

    West Texas Intermediate was little changed after falling yesterday, amid speculation that U.S. inventories climbed to the highest level in more than 22 years.

    Futures declined as much as 0.5 percent in New York. U.S. crude supplies probably increased 2.3 million barrels last week, according to a Bloomberg News survey of analysts before a government report tomorrow. Prices slipped yesterday after data showed U.S. manufacturing grew less than forecast in March. Exxon Mobil Corp. (XOM) is developing a plan to repair a damaged section of the Pegasus pipeline that moves crude to Gulf Coast refineries. The line was shut because of a leak.

    “It is possible to have another sharp build in crude stocks that could set a bearish tone,” Myrto Sokou, an analyst at Sucden Financial Ltd. in London, said in an e-mail. “The weak U.S. PMI data adds some pressure to the oil market, raising renewed concerns about a possible slowdown in oil demand. Prices are in consolidation mode, struggling to find some direction ahead of the U.S. economic releases,” including one today on factory orders.

    WTI for May delivery declined as much as 45 cents to $96.62 a barrel in electronic trading on the New York Mercantile Exchange and was at $97 at 12 p.m. London time.

  • Bertelsmann Completes Full Acquisition of BMG

    End User News, |

    4/2/2013 12:00:00 AM

    The music rights company BMG is now under the sole ownership of Bertelsmann again. The international media company completed the acquisition of the shares previously held by Kohlberg Kravis Roberts & Co. (KKR) in the Berlin-based international company after receiving all required regulatory approvals.

    After pulling out of the former publishing and traditional recorded music business, Bertelsmann founded BMG in 2008 with a new, resolutely digital and service-oriented business approach and from 2009, in association with KKR, built it into what is now the world's fourth-largest music rights business. Bertelsmann will develop BMG as a wholly owned subsidiary from now on. The company currently administers more than one million song rights, including works by artists such as Bruno Mars, Duran Duran, Gossip, Johnny Cash and Will.i.am. BMG represents artists like Brian Ferry, Nena and Anastacia with more comprehensive master rights (composing and recording).

  • Three Berry Plastics Products Receive Flexible Packaging Association Achievement Awards

    Packaging News, |

    4/2/2013 12:00:00 AM

    Berry Plastics Group, Inc. is proud to announce that three of its products recently received Flexible Packaging Association Achievement Awards at the Association's annual ceremony.

    "We are extremely honored to receive the Achievement Awards from the Flexible Packaging Association," said Larry Goldstein, President of Berry Plastics' Flexible Packaging Division. "Berry's team of product design and packaging engineers work diligently to create innovative packaging solutions. With recent capital investment in state-of the art extrusion, high speed quick change flexographic presses, and triplex lamination assets, we are able to provide technologically unique films with superior graphics. These capabilities enable our customers' products to stand out on store shelves, helping them win in the marketplace."

    Berry Plastics' awards include:

    Award: Silver - Packaging Excellence   Package: gDiapers Biodegradable Wipes
    Package Description: The gDiapers Biodegradable Wipes includes the Rigid Lens II (RLII) closure, encompassing the benefits of both traditional peel 'n reseal labels and molded fitments. Packaging high stack count wet wipes in a flexible package with a RLII closure alleviates the need for using molded fitments, canisters, and tubs. High-quality graphics can be printed directly on the RLII to compliment the respective graphics on the flexible film. This technology and package format can be run on existing equipment for wet wipes and, with the ability to be opened and closed with one hand, provides a user friendly experience.
     
    Award: Silver - Technical Innovation    Package: Easy Peel Lidding for High-Pressure Pasteurization
    Package Description: High pressure pasteurization is a growing trend in the food industry. The aggressive conditioning from this technique requires higher performance films to meet industry standards. Berry Plastics' multilayer co-extrusion technology and polymer knowledge provided a solution, bringing a significant improvement to a challenging process. Product benefits include reduced leaker rates, increased production, and assurance of package integrity through distribution and retail. The end consumer enjoys a convenient easy to open package with attractive clarity.
     
    Award: Silver - Printing Achievement   Package: CBI Coelho Smart Wheat
    Package Description: The CBI Coelho Smart Wheat package uses HD Flexo imaging for more detail and much sharper imagery. This new printing technology, combining era metallic and pearlescent inks, provides a high impact package and eye catching design that will differentiate this product from the competition.

  • Avery Dennison’s Bottle-to-Bottle Label Wins Society of Plastic Engineers 2013 Environmental Award

    Packaging News, |

    4/2/2013 12:00:00 AM

    Avery Dennison Corporation, a global leader in the label and packaging industry, won the Society of Plastic Engineers (SPE) 2013 Environmental Award in the Design for Sustainability category for its Bottle-to-Bottle Portfolio of labeling materials, which dramatically improves the recycling of polyethylene terephthalate (PET).

    The Environmental Stewardship Awards, hosted by SPE, recognize corporations and other institutions that have demonstrated environmental leadership and excellence.

    “We are excited that our Bottle-to-Bottle label has been honored by the SPE Environmental Stewardship Awards," said Donald A. Nolan, president of Avery Dennison Materials Group. “As a manufacturer of pressure-sensitive label materials, we are always looking for ways to make our products more sustainable. With the ever-increasing popularity of pressure-sensitive labels, it’s critical that we make it easier to remove these materials from PET containers during the recycling process, and we are proud to be leading that charge."

    The Bottle-to-Bottle portfolio leverages unique technology to meet an industry need to increase the recyclability of PET containers. Direct printing, paper labels and standard pressure-sensitive labels applied to PET bottles tend to lower the recycling efficiency and the quality of recycled PET. In 2010, 1.5 billion pounds of PET were collected for recycling in the United States, yet reclaimers reported yield losses ranging from 24.4 percent to 32.2 percent due to contamination by labels, adhesives and other components – amounting to a loss of over 40 million pounds of bottles.

  • UPM signs contract with Aliplast for release liner recovery in France

    Producer News, |

    4/2/2013 12:00:00 AM

    UPM has announced cooperation for release liner recovery with the French subsidiary of Aliplast, an Italian company specializing in the collection and treatment of recovered plastic films. This partnership expands Aliplast’s recycling services to polypropylene (PP) and paper-based release liners through UPM Raflatac’s RafCycle® waste management concept. Aliplast now collects, sorts and distributes all types of release liner to different recycling processes, avoiding landfill or incineration.

    Large collection bags are installed by Aliplast for use by self-adhesive label end-users like drinks bottlers and companies from the food, cosmetics and pharmaceutical industries. Aliplast collects the bags regularly and directs them to its two sorting centres near Strasbourg and Lyon. After sorting, the waste is transported to its final place of re-use.

    Polypropylene liners, including UPM Raflatac’s ProLiner PP30, are re-used as raw material in the manufacture of wood-plastic composite products at the UPM ProFi® factory in Bruchsal, Germany. Other wrapping films are recycled into various packaging products by Aliplast Italy.

    Aliplast also collects paper-based release liners for fibre re-use. The recovered paper liners are re-pulped and de-siliconized, and the pulp is used for papermaking at UPM’s paper mills.

  • RR Donnelley Introduces Innovative Line of Printed Electronics

    Printer News, |

    4/2/2013 12:00:00 AM

    R. R. Donnelley & Sons Company today announced the introduction of innovative RFID and NFC production capabilities as part of its printed electronics initiative.

    These new capabilities enable the company to provide customers with unique printed NFC and RFID tags that can be embedded in an extensive range of products that RR Donnelley produces, including retail displays, product packaging, shipping labels, direct mail pieces, catalogs, magazines and more. Printed electronics from RR Donnelley provide customers with a single source for integrated radio frequency enabled business and consumer communications.

    "Now we offer customers single-source convenience and control as we produce their RFID and NFC tags and integrate them with other materials that we create," said Thomas J. Quinlan III, RR Donnelley's President and Chief Executive Officer. "Even more, we can develop and host the mobile consumer experience initiated by interactive NFC tags and even provide response analytics about the programs' effectiveness."

    RR Donnelley's manufacturing process allows customers to take advantage of flexible antenna design and production capabilities that tune the performance of their tags to specific applications for enhanced performance. The company's offering includes a complete suite of antenna design, testing, and proof-of-concept services to help customers identify optimal designs.

  • Port Hawkesbury Paper in full compliance with WTO rules

    Producer News, |

    4/1/2013 12:00:00 AM
    Pacific West Commercial Corporation is responding to an inquiry by the U.S. Trade Representative, to determine whether the investments into the Port Hawkesbury Paper Mill in Nova Scotia may be in contravention of the World Trade Organization's rules.
     
    "The claims we are hearing, specifically from members of congress from Maine, regarding our investment into Port Hawkesbury Paper are completely false.   Pacific West received sound legal advice from specialized trade counsel on this transaction, and our investment is fully consistent with international trade rules" said Shawn Lewis, VP and General Counsel of Pacific West Commercial Corporation.  "Unfortunately, some of the media reports regarding the reopening of the mill have contained exaggerated and erroneous information, which may have led to a significant misunderstanding of the investment."
     
    The reopening of the mill was part of a normal statutory bankruptcy proceeding in the Canadian courts, in which all stakeholders, including those from the United States, were provided an equal opportunity to participate.
     
    "It is also important to note that United States governments provide large amounts of assistance to the U.S. paper industry, including mills in Maine" added Mr. Lewis.
  • Sanders Takes Over as Sonoco's Chief Executive Officer

    Packaging News, |

    4/1/2013 12:00:00 AM

    Sonoco announced today that M. Jack Sanders has taken over as president and chief executive officer following his election by the Company's board of directors. Sanders, 59, succeeds Harris E. DeLoach Jr., who retired as CEO after a 27-year career with the Company. As announced in December, DeLoach, 68, remains Sonoco's executive chairman of the board.

    "I'm extremely proud and honored to be elected to lead such a great company," said Sanders, who is only the Company's eighth CEO in its 114-year history. "Sonoco was founded on creativity, hard work, a spirit of innovation and a focus on satisfying our customers while creating value for our shareholders. We want to continue building on past successes and defining a new future for this exceptional company."

    A graduate of Louisiana State University with a Bachelor of Science degree in finance, Sanders joined Sonoco in 1988 as national sales and marketing manager for the Company's Reels business. In 1992, he was asked to build and lead the development of Sonoco's new Protective Packaging business as its general manager and in 1998 was promoted to division vice president and general manager. 

  • E-book Sales Bolster Publishers' Bottom Lines

    End User News, |

    4/1/2013 12:00:00 AM

    Although costs associated with reaching e-book settlements with the Department of Justice and state attorneys general cut into some houses’ profits, none of the big-five trade publishers posted a margin of less than 9% in 2012. And more than one publisher (or parent company) said higher sales of e-books is boosting its bottom-line—even if e-books are curtailing revenue growth—and should lead to higher margins in the future.

    In its 10-K filing with the Securities & Exchange Commission, Simon & Schuster parent company CBS observed that “underlying publishing results reflect margin growth associated with an increase in the mix of revenues from digital book sales, which have lower production and distribution costs than print books. As the publishing business continues to transition to an increasing mix of digital book sales compared to print book sales, profit margins are expected to continue to grow.” S&S was one of the companies whose profits were hurt by legal and settlement costs. In both 2011 and 2012, S&S’s earnings also reflected restructuring charges—$3 million last year, primarily reflecting costs associated with combining several of S&S’s adult imprints, and charges of $2 million the year before due to severance costs.

    Random House, of course, was the biggest winner in 2012. Driven by more than 70 million copies sold (in all formats) of the Fifty Shades trilogy, the company reported a 75.7% increase in operating EBIT year over year on a 22.5% increase in revenue, giving Random House what is surely its highest-ever operating margin of 15.2%. In the year, e-book revenue accounted for over 20% of the company’s worldwide sales and represented over 25% of sales for the U.S. group. In the U.S., Fifty Shades sold over 15 million digital copies, while the Fifty Shades Trilogy Bundle sold over 850,000 e-books. RH had another 1 million–copy e-book seller in Gone Girl. The strong showing by Shades in the U.S. helped to push America’s contribution to Random House’s total sales to 54.8% ($1.5 billion at current exchange rates), up from 53.8% in 2011.

    Although several of the other trade houses said that the success of Fifty Shades drained sales from their own titles, all four posted sales gains on a worldwide basis for 2012. Year-over-year growth at Penguin and S&S was below 1% and sales at Lagardère rose 1.9%, although revenue at its U.S. subsidiary, Hachette Book Group, fell 3.4%. HBG attributed the drop to the continued shift to digital—the company’s volume was up 1.2%, but the lower prices of e-books generated less revenue. Sales from digital products at HBG—e-books plus downloadable audio—totaled 26% of overall revenue in 2012, compared with 23% in 2011. On a worldwide basis, e-book revenue accounted for 8% of Lagardère Publishing’s total sales last year, up from 6% in 2011.

    Penguin Group had the largest decline in earnings in the year, which it said had to do with the slowing sales of backlist titles. Parent company Pearson ate the charges for the e-book legal costs in the year totaling £32 million—a figure that also included expenses tied to the formation of Penguin Random House. E-book sales accounted for 17% of worldwide Penguin revenue in 2012, up from 12% in 2011, while e-books generated almost 30% of sales at Penguin Group USA last year, up from about 20% in the prior year.

    Results from HarperCollins are limited to the last six months of both 2011 and 2012, the periods for which parent company News Corp. has made data public as it prepares to split the company in two. The results showed a big jump in both sales and earnings, largely due to the acquisition of Thomas Nelson. But News Corp., too, sees e-books as a positive for the book business. In its proxy filing relating to the spin off, the company said, “as our digital products continue to account for more of our business, we expect to benefit from increased profit contribution and improved working capital dynamics due to diminishing physical plant requirements, inventory and returns related to our print business as well as faster payments for e-books.”

  • China Shengda Packaging Group Inc. Reports Full Year 2012 Results

    Packaging News, |

    4/1/2013 12:00:00 AM

    China Shengda Packaging Group Inc., a leading Chinese paper packaging manufacturer, today announced its financial results for the twelve months ended December 31, 2012.

    "As our customers continued to face economic headwinds throughout the year in 2012, our overall sales volume declined slightly from 321.7 million square meters in 2011 to 317.4 million square meters in 2012. Our gross margin also declined from 20.7% in 2011 to 18.0% in 2012 due to increase in cost of raw materials. However, our revenues increased by 1.1% to $125.3 million from $124.0 million as we continued to improve our sales mix in favor of color cartons that carry higher margin and higher average sales price versus flexo cartons," said Mr. Daliang Teng, Chief Executive Officer of China Shengda Packaging Group.

    FY 2012 Financial Highlights:
    •Revenues increased by $1.3 million, or 1.1%, to $125.3 million for 2012 from $124.0 million for 2011.
    •Gross profit decreased by $3.1 million, or 12.0%, to $22.6 million for 2012 from $25.7 million for 2011. Gross profit as a percentage of revenues was 18.0% for 2012, as compared to 20.7% for 2011.
    •Net income applicable to common stockholders decreased by $4.0 million, or 42.2%, to $5.6 million for 2012 from $9.6 million for 2011.

  • Brookstone Reports Net Sales increased 4.6% to $519.6 million for Fiscal Year 2012

    End User News, |

    4/1/2013 12:00:00 AM

    Innovative product development company and multi-channel lifestyle retailer Brookstone, Inc. announced today that, for the fiscal year ended December 29, 2012, net sales increased 4.6% to $519.6 million and comp sales increased 4.5% while Adjusted EBITDA decreased 25.7% to $18.4 million as compared to the fiscal year ended December 31, 2011.  For the fourth quarter ended December 29, 2012, net sales decreased 8.0% to $232.8 million, comp sales decreased 3.5% and Adjusted EBITDA decreased 25.9% to $35.4 million as compared to the fourth quarter of 2011. 

    For the fiscal year ended December 29, 2012, net sales in the Alternative Distribution channel, which includes our wholesale business, increased $14.1 million, or 51.4%, to $41.6 million as compared to the fiscal year ended December 31, 2011. For the fourth quarter ended December 29, 2012, net sales in the Alternative Distribution channel decreased $3.4 million, or 24.3%, to $10.7 million as compared to the fourth quarter of 2011. The increase for the full fiscal year was primarily the result of an increase in sales to our wholesale partners (i.e. other retailers) that purchased our products for sale in their retail stores and channels, while the fourth quarter decrease was due to the timing of shipments to our wholesale partners as compared to the fourth quarter of 2011. We continue to focus on expanding our revenue streams through alternative channels.  

    Net sales in our e-Commerce channel increased $9.0 million, or 9.3%, to $105.4 million for the fiscal year ended December 29, 2012, as compared to the fiscal year ended December 31, 2011. For the fourth quarter ended December 29, 2012, net sales in the e-Commerce channel decreased $1.3 million, or 2.1%, to $60.1 million as compared to the fourth quarter of 2011.  The increases for the full fiscal year were driven by new and expanded online marketing initiatives and partnerships through our website, www.brookstone.com. Our results were offset in the fourth quarter by reduced year over year catalog circulation and a reduction in shipping and handling revenues as we responded to consumer demand with discounted shipping programs.

  • New York’s top court upholds 'Amazon Tax' law

    End User News, |

    4/1/2013 12:00:00 AM

    Over the objections of Amazon.com Inc. and Overstock.com Inc., New York State’s highest court Thursday upheld lower court rulings that supported the state’s so-called Amazon Tax law, which requires online retailers to collect sales tax if they do business with in-state affiliate web sites.
     
    Overstock says it will consider bringing the case to the U.S. Supreme Court, but Amazon says it believes the best way to move forward is to support pending federal legislation, the Marketplace Fairness Act, which Amazon contends will provide uniformity in sales tax collection across the United States.
     
    New York introduced its affiliate sales tax law in 2008, and Amazon and Overstock each contested the law in New York courts. In separate lawsuits the retailers argued that the state law violated federal law, which says states can only mandate sales tax collection by retailers with an in-state physical presence, or nexus in legal terms, such as stores or distribution centers.

    But the retailers lost their lawsuits in 2009, and the state prevailed in an initial appeals court ruling in 2010. This week the state’s highest court, the Court of Appeals, also sided with the state in ruling that affiliates constituted nexus. “If a vendor is paying New York residents to actively solicit business in this state, there is no reason why that vendor should not shoulder the appropriate tax burden,” the court said.

  • WTI Slides From Six-Week High; Exxon Shuts Crude Pipeline

    Miscellaneous News, |

    4/1/2013 12:00:00 AM

    West Texas Intermediate crude slid from the highest close in six weeks, snapping its longest rally this year. Exxon Mobil Corp. (XOM) shut a pipeline that carries oil to the U.S. Gulf Coast.

    Futures dropped as much as 0.6 percent after five days of gains through March 28 took last quarter’s advance to 5.9 percent. The Pegasus pipeline, shut March 29 after a leak in Arkansas, will need to be excavated as Exxon determines what caused the breach, a spokeswoman said. WTI prices surged last week as U.S. economic growth beat forecasts, sending U.S. equities to a record March 28.

    “U.S. crude inventories are at a fairly high level right now, and the Pegasus pipeline shutdown will further increase pressure,” Shi Yan, an analyst at UOB-Kay Hian Ltd. in Shanghai, said in a phone interview. “Prices will stabilize or weaken in the longer term as demand declines gradually.”

    WTI for May delivery slipped as much as 55 cents to $96.68 a barrel on the New York Mercantile Exchange and was at $96.88 at 4:24 p.m. in Singapore.

  • Avery Dennison Announces Settlement of Litigation with 3M

    Packaging News, |

    3/29/2013 12:00:00 AM

    Avery Dennison Corporation announced today that patent and antitrust litigation against 3M Company has been settled by agreement of the parties.

    The litigation began when 3M alleged that Avery Dennison infringed 3M patents and sought a preliminary injunction to prevent Avery Dennison from selling Avery Dennison™ OmniCube™, a Type XI sheeting product used to increase nighttime visibility of road signs and other highway and transportation products. The court denied 3M's request, and after Avery Dennison brought claims of its own for patent infringement and antitrust violations, the parties agreed to dismiss all three pending cases.

    Avery Dennison will continue to sell its OmniCube products worldwide.

  • Quad/Graphics Named Company of the Year – Publications in Inaugural Gravure Management Excellence Awards

    Printer News, |

    3/29/2013 12:00:00 AM

    Quad/Graphics, Inc. has been named Company of the Year/Gravure Publications in the inaugural Gravure Management Excellence Awards sponsored by the Gravure Association of the Americas (GAAmericas). Quad/Graphics also won the Overall Company Growth Award. The awards were a feature of the GAAmerica’s Gravure Global Summit held in Miami earlier this month.

    Quad/Graphics uses the gravure printing process to print leading consumer magazines, catalogs and retail advertising inserts. In naming Quad/Graphics Company of the Year in the Publication category, the GAAmericas awards committee cited Quad’s continuing commitment to investing in growth and technology. “Quad/Graphics proved that continued investment pays off in taking care of customers and its people,” stated Sherré DeMao, head judge for the awards committee and Director of Marketing & Communications for GAAmericas. “Areas that impressed the judging committee included Quad/Graphics’ fully automated Gravure pressroom from engraving to loading through delivery of signatures; continual investment in process improvements; adopting new technologies and practices to protect the environment; a consistent company-wide safety education and awareness program; investment in employees including its QuadMed primary care clinics; and its extensive industry involvement and advocacy.”

    In its Overall Company Growth Award presentation, the GAA awards committee noted Quad’s growth through acquisitions, but also praised Quad’s strategies for growth that include offering an enhanced range of revenue-generating solutions; expanding vertical expertise; increasing manufacturing flexibility and efficiencies; extending geographic footprint; and helping customers realize mailing/distribution savings.

  • Amazon Buys Goodreads

    End User News, |

    3/29/2013 12:00:00 AM

    Amazon has acquired Goodreads.com, a Web site featuring user-generated reviews of books. The purchase comes amid mounting rumors that Goodreads, which CEO Otis Chandler launched in 2007, might start selling books directly from its site.

    Goodreads, which is one of the most popular among a raft of sites created as a book recommendation engine--members are directed to titles by seeing what their friends are reading, or have recommended--does not currently sell any books, but many in the industry saw it as an ideal sales outlet.

    The details of the purchase, which is set to close in the second quarter of 2013, were not disclosed by Amazon, but the retail giant confirmed that Goodreads will remain headquartered in San Francisco. The site currently has over 16 million members, averages 37 million unique visitors a month, and has over 30,000 book clubs.

    When asked how Goodreads would be integrated into Amazon, and the all-important question of how, and when, a retail component might be rolled into the site--currently users can buy books through a host of third party retailers, including Amazon--both Chandler and Russ Grandinetti, Amazon v-p, Kindle content, skirted the subject. When pressed, Chandler said: "We don't have any plans to change anything about the buy links in the short term, but in the long term we're going to do what's best for our users."

  • PRC Issues Annual Compliance Determination Assessing USPS Performance

    End User News, |

    3/29/2013 12:00:00 AM

    The Postal Regulatory Commission today issued its Annual Compliance Determination (ACD) evaluating the pricing, service performance, and financial situation of the Postal Service in fiscal year (FY) 2012. The ACD is the primary tool established by the Postal Accountability and Enhancement Act (PAEA) to ensure that the Postal Service is accountable for and transparent in its operations and service to the public.

    In FY 2012, the Postal Service incurred losses of $15.9 billion: $11.1 billion was due to its Retiree Health Benefits Fund expense, $2.4 billion resulted from a workers’ compensation liability adjustment, and $2.4 billion was attributed to operating loss under management control.

    Ruth Y. Goldway, Chairman of the Commission, said: “The continuing financial losses of the Postal Service and the exponential shifts in communications technology raise the value of the Commission’s annual review. Based on our review of information provided by the Postal Service, the Commission has determined it to be largely in compliance with postal policies and pricing requirements of the PAEA. Nevertheless, nine Market Dominant products’ prices failed to raise enough revenue to cover even their attributable costs, causing losses of $1.5 billion, more than 50 percent of the total operating losses under management control. This ACD highlights the untapped potential of the pricing flexibility available to the Postal Service under the law to address at least some of these losses.”

    The Commission’s report did identify some positive results by the Postal Service. The Postal Service met its on-time service performance targets for its flagship First-Class letters and cards products and although it did not meet its targets for most other products, it made significant improvements over the course of the fiscal year.

  • Mag Bag: 'Elle' Partners With Net-a-Porter

    End User News, |

    3/29/2013 12:00:00 AM

    Fashion powerhouse magazine Elle is making it easier for readers to buy products through a new partnership with Net-a-Porter, an online e-commerce platform that has just launched a selection of makeup, hair, fragrance, nail polish and skin care products.
     
    The deal will give Elle Web site visitors access to over 1,200 luxury products from Net-a-Porter, according to Mashable.
     
    The Net-a-Porter portal on Elleallows users to browse and search for products by a variety of characteristics, including category, color, price, and designer, Mashable reports. Elle is helping promote the new online offering with six slide show lookbooks featuring products from Net-a-Porter. The integration is part of a display advertising deal with prominent Net-a-Porter messages on the site.

    New York Unveils New Tablet App
    New York magazine has unveiled a new version of its app for tablet computers. The new iPad app includes a daily news stream with content drawn from New York’s various blogs, as well as an interactive version of the magazine, according to Women’s Wear Daily. One of the main features is a “window shade” function that allows readers to swipe between blog posts and features from the print magazine -- provided, of course, they have a subscription. The new app was designed in collaboration with The Wonderfactory.

  • Infographic: The Surprising Impact of Data on Marketing ROI

    End User News, |

    3/29/2013 12:00:00 AM
    For most marketers, the decision to measure ROI is a no-brainer. According to a study by Black Ink, a business unit of business and marketing firm Winsper, 73% of respondents deem measuring ROI as “very important.” Despite this high figure, 29% of the senior marketing leaders surveyed admit that they do not currently measure marketing ROI.
     
    Data seems to be the culprit behind this ROI rift, as 60% of respondents cite the lack of marketing data integration as the top hindrance, followed by 53% of respondents citing data accuracy or marketing data not translating into financial data as challenges. Data also appears to haunt those marketers who do measure ROI: 51% of those respondents cite the process of collecting marketing data as an obstacle, and 38% cite customer integration and connecting marketing metrics to financial as top hurdles marketers have to overcome. Even so, those marketers with measurement on their mind seem pleased with their results, as 44% of respondents who measure ROI are “satisfied” with their company's capabilities.
     
    Despite these barriers, marketers continue to see the value in tracking ROI. Eighty-two percent of respondents say that the ability to make more informed decisions is the value of measuring marketing ROI, and 79% say measuring ROI demonstrates effectiveness of marketing investments.
  • AAA Fuel Gage & Exchange Rates

    Miscellaneous News, |

    3/29/2013 12:00:00 AM

    AAA Fuel Gage 3/29/13
    National Unleaded Regular:
    Current Average - $3.642/gallon
    Month Ago Average - $3.786/gallon
    Year Ago Average - $3.921/gallon
    Highest Recorded Average - $4.114/gallon on 7/17/08
    Diesel:
    Current Average - $4.010/gallon
    Month Ago Average - $4.093/gallon
    Year Ago Average - $4.162/gallon
    Highest Recorded Average - $4.845/gallon on 7/17/08

    Current Exchange Rates as of 3/29/13
    American Dollar to Canadian Dollar = 0.983245
    American Dollar to Chinese Yuan = 0.160932
    American Dollar to Euro = 1.282273
    American Dollar to Japanese Yen = 0.010632
    American Dollar to Mexican Peso = 0.081044

  • Oil Rises on U.S. Growth, Capping Longest Rally of 2013

    Miscellaneous News, |

    3/29/2013 12:00:00 AM

    West Texas Intermediate oil climbed for a fifth day, capping the longest rally this year, as the U.S. economy grew at a faster pace than previously estimated in the fourth quarter.

    Prices reached a six-week high as gross domestic product rose at a 0.4 percent annual rate, up from prior estimate of 0.1 percent, the Commerce Department reported today in Washington. Oil demand in the U.S., the biggest crude-consuming country, increased by the most since December in the seven days ended March 22, the Energy Information Administration said yesterday. WTI’s discount to Brent shrank to the smallest since July.

    “GDP is better than earlier estimates and a strong economy is bullish for oil,” said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. “It looks like the spread will keep contracting.”

    WTI for May delivery gained 65 cents, or 0.7 percent, to $97.23 a barrel on the New York Mercantile Exchange, the highest settlement since Feb. 14. The rally since March 21 was the longest since Dec. 20 and brought crude’s advance for the quarter to 5.9 percent.

  • AF&PA Releases 53rd Annual Survey of Paper, Paperboard, and Pulp Capacity

    Producer News, |

    3/29/2013 12:00:00 AM

    The American Forest & Paper Association (AF&PA) today released the 53rd Annual Survey of Paper, Paperboard and Pulp Capacity, reporting that U.S. paper and paperboard capacity declined 1.6 percent in 2012 but will hold essentially stable over the next three years (2013 through 2015). 

    Paper and paperboard capacity is slated to decline 0.4 percent in 2013 but then rise 0.6 percent in 2014 and 0.2 percent in 2015.  For the entire three-year projection period, paper and paperboard capacity is expected to rise 0.4 percent at an average annual rate of 0.1 percent.
     
    Tissue paper and containerboard grades are slated to add capacity during the next three years, while capacities for newsprint and printing-writing paper grades are expected to decline.  The survey findings indicate that boxboard capacity will hold essentially stable. 

    The survey reports U.S. industry capacity data for 2012 through 2015 for all major grades of paper, paperboard, and pulp, based on a comprehensive survey of all U.S. pulp and paper mills.  Survey respondents represent about 90 percent of the U.S industry capacity.

  • Metso to supply paper-to-packaging grade conversion rebuild for Blue Paper in France

    Packaging News, |

    3/28/2013 12:00:00 AM

    Metso will supply Blue Paper with a grade conversion rebuild of their paper machine at their mill site in Strasbourg, France. The target is to produce packaging materials on a paper machine that previously produced LWC, light weight coated paper, a grade that is suffering from a drastic decline in demand. The start-up of the rebuilt machine is scheduled for the last quarter of 2013. The value of the order will not be disclosed.

    “This delivery is an example of much called-for innovative approach to the structural change the paper industry is facing. By retrofitting the existing printing paper machine with a few new key components Metso is able to provide the customer and the Strasbourg papermaking community with a solution that enables continuation of industrial operations on-site,” says Markus Laitila, Vice President of Paper Mills business unit, Metso.

    The main part of the order is included in Metso’s Pulp, Paper and Power fourth quarter 2012 orders received. The automation system modification is included in Automation’s fourth quarter 2012 orders received.

    Metso’s delivery will comprise headbox and forming area modernizations and modernization of the press, dryer and sizing sections and reel. Metso will also modify air systems and automation systems.

    The original paper machine has a trimmed width of 8.5 m and it produced LWC paper at a speed of 1,500 m/min. After the grade conversion rebuild, the paper machine will have a high annual capacity of fluting and testliner grades in the basis weight range of 70-130 g/m².

  • Web-only retailers command more of the U.S. book market

    End User News, |

    3/28/2013 12:00:00 AM

    Web-only retailers in the United States accounted for 43.8% of book purchases by volume throughout most of 2012, up from 35.1% in 2011, according to Bowker Market Research. The projections for both years cover the period from January through November.
     
    The report says large bookstore chains accounted for 18.7% of U.S. book sales from January through November last year, down from 28.7% during the same period in 2011, and 31.5% in 2010. The rest of the sales came via such venues as independent bookstores—3.7% during the 2012 and 2011 periods, up from 2.4% in 2010—warehouse stores, mass merchandisers, supermarkets and book clubs.
     
    Part of the decline stems from Borders, the second-largest bookstore chain after Barnes & Noble Inc., going bankrupt and subsequently closing its 399 stores in the summer of 2011. Based on its 2010 sales, Borders had been No. 194 in the the Internet Retailer Top 500 Guide. BarnesandNoble.com is currently No. 32 in the Top 500.

    In November 2012—the latest data available from the market research firm—about 28% of all book purchases in the United States were of e-books. That compares with approximately 19% in November 2011. "It is clear that the e-book format has really come of age in the U.S.," says Jo Henry, director of Bowker Market Research. “E-books' market share has seen steady growth since January 2009, with steep rises after each Christmas.”
     
    According to the most recent edition of the Internet Retailer Top 500 Guide—soon to be supplanted by the 10th anniversary edition—the books, music and video product category, as measured by sales, increased 20.4% year over year in 2011. Consumers that year spent more than $6.2 billion from Top 500 merchants included in that category.

  • WTI Advances a Fifth Day as U.S. Refiners Bolster Output

    Miscellaneous News, |

    3/28/2013 12:00:00 AM

    West Texas Intermediate traded near its highest in five weeks and was set for a quarterly gain after U.S. government data showed refineries raised operating rates.

    Futures rose as much as 0.4 percent in New York and have gained 5.2 percent in the past three months. Refineries ran at 85.7 percent of capacity last week, up 2.2 percentage points from the prior week and the most since January, figures from the Energy Department showed yesterday. U.S. crude stockpiles increased 3.3 million barrels, according to the report. They were forecast to gain 1.33 million barrels, an earlier Bloomberg News survey showed.

    “Fundamentals remain well-balanced,” said Michael Poulsen, an analyst at Global Risk Management in Middelfart, Denmark. “Global oil demand remains near all-time highs.”

    WTI for May delivery traded 20 cents higher at $96.78 a barrel in electronic trading on the New York Mercantile Exchange at 10:50 a.m. London time, having earlier climbed as much as 36 cents to $96.94 a barrel.

  • American Forest & Paper Association Announces 2012 Paper Recovery Rate

    Environmental News, |

    3/28/2013 12:00:00 AM

    The American Forest & Paper Association (AF&PA) today announced that 65.1 percent of paper consumed in the U.S. for 2012.
     
    “Paper recovery is a success in our country because of the commitment millions of Americans make each day to recycling, whether it’s at home, work, or school,” said AF&PA President and CEO Donna Harman. 

    “Our industry’s success in paper recovery is due in large part to the voluntary, market-driven product recovery system that we and so many others have fostered,” said AF&PA Board Chairman and Graphic Packaging International President and CEO David Scheible.  “We will continue supporting education programs and initiatives that help drive awareness to increase recovery.”

    The annual paper recovery rate has nearly doubled since 1990 and remains above the trend line for the industry to achieve its goal of recovering more than 70 percent per year by 2020.  Recovering paper for recycling is an integral part of the industry’s Better Practices, Better Planet 2020 sustainability initiative as it helps extend the life of paper and paper-based packaging products.

  • Norske Skog Temporarily Idling Newsprint Machine

    Producer News, |

    3/28/2013 12:00:00 AM

    The Norweigan paper company Norsk Skog has announced plans to idle one of its newsprint machines at its Skogn newsprint mill in Norway. In a statement, Norsk Skog says the move to cut production is a step to prevent an unnecessary build up of newsprint inventory.
     
    The machine to be idled has an annual production capacity of 130,000 metric tons. Norsk Skog’s Skogn mill has an overall annual capacity of 550,000 metric tons.
     
    The downtime is slated to take place in June, 2013.

    Sven Ombudstvedt, president and CEO of Norsk Skog, says that the temporary cut in capacity at the Skog mill is required to create a better balance between demand and supply for newsprint in Europe and avoid unprofitable production at the mill.
     
    The company also says that production at a machine still in operation at its Tasman mill in New Zealand will be reduced by removing 15,000 metric tons from the market due to a direct consequence of the energy price development in New Zealand.

  • International Paper Joins World Wildlife Fund's Global Forest & Trade Network

    Producer News, |

    3/28/2013 12:00:00 AM

    International Paper has joined the Global Forest & Trade Network in North America, one of World Wildlife Fund (WWF)'s initiatives focused on eliminating illegal logging and promoting environmentally and socially responsible forest management.  International Paper joins a network of more than 200 companies and communities around the globe committed to the responsible forest management and sourcing of forest products.

    "We have long been committed to responsible forestry everywhere we operate, and collaborating with WWF is an excellent way to demonstrate and grow that commitment," said Teri Shanahan, International Paper's vice president, Sustainability.  The initial scope of International Paper's participation in GFTN will encompass fiber sourced for the company's North American and Brazilian mills, representing more than two thirds of its global fiber volume.

    "By joining GFTN and increasing its sourcing of credibly certified fiber, International Paper – as the world's largest paper and packaging company  – can use its purchasing power to drive improvements in responsible forestry around the globe," said Suzanne Apple, vice president of Business and Industry for WWF. "This kind of leadership is critical to conserving the places and species we are working so hard to protect."

  • dELiA*s, Inc. Announces Fourth Quarter and Year End Fiscal 2012 Results

    End User News, |

    3/28/2013 12:00:00 AM

    dELiA*s, Inc., a multi-channel retail company comprised of two lifestyle brands primarily marketing to teenage girls and young women, today announced the results for its fourth quarter of fiscal 2012 (the fourth quarter of fiscal 2012 consisted of fourteen weeks compared to the fourth quarter of 2011, which consisted of thirteen weeks) and fiscal year 2012 (fiscal year 2012 consisted of fifty-three weeks compared to fiscal year 2011, which consisted of fifty-two weeks).

    Fourth Quarter Fiscal 2012 Highlights:
    Total revenue increased 1.0% to $66.2 million from $65.6 million in the prior year quarter. Revenue from the retail segment decreased 2.4% to $32.8 million, due to a reduction in store count and a comparable store sales decrease of 0.3%. Revenue from the direct segment increased 4.4% to $33.4 million on a catalog circulation increase of 1.0%.

    Consolidated gross margin decreased to 31.4% compared to 32.3% in the prior year quarter.

    Net loss was $10.7 million, or $0.34 per diluted share, compared to $4.2 million, or $0.13 per diluted share, in the prior year quarter. Included in the fourth quarter of fiscal 2012 were CEO transition costs of $0.6 million, or $0.02 per diluted share, and a goodwill impairment charge of $4.5 million, or $0.14 per diluted share.

  • Tembec to sell its NBSK pulp mill in Skookumchuck, British Columbia

    Producer News, |

    3/27/2013 12:00:00 AM
    Tembec Inc. announced today that it has reached an agreement to sell its NBSK pulp mill and related assets and liabilities located in Skookumchuck, British Columbia to Paper Excellence Canada Holdings Corporation (“Paper Excellence”) for a purchase price of $89 million, which includes working capital. Closing of the transaction is expected to occur in the second calendar quarter of 2013 and remains subject to certain conditions and regulatory approvals.
     
    “This transaction supports the continuing transformation of the Company and the reshaping of its business portfolio,” stated Tembec President and CEO James Lopez.
     
    Tembec acquired the Skookumchuck pulp mill in 1999 as part of the acquisition of Crestbrook Forest Industries Ltd. This mill, where 290 employees currently work, started up in 1968. Its pulp is shipped to North American and Asian customers primarily for tissue applications.
  • Standard Register Optimizes Operations with New Digital Print and Distribution Center

    Printer News, |

    3/27/2013 12:00:00 AM

    Standard Register has announced plans for a new national Center of Excellence for digital printing, kitting and distribution in Jeffersonville, Ind., which is in the greater Louisville, Ky. metropolitan area. This new 335,000 square foot center will provide Standard Register customers more flexible delivery options and improved speed-to-market for communications products, services and solutions.

    The Indiana Economic Development Corporation offered Standard Register EDGE (Economic Development for a Growing Economy) tax credits and a training grant from the Skills Enhancement Fund in support of the project along with enterprise zone investment deductions from the River Ridge Development Authority.

    “Standard Register’s $10 million investment in this new Center of Excellence allows us to operate more efficiently, advance our digital printing capabilities and leverage the deep capability of the local workforce to better serve our customers,” said Joseph P. Morgan, Jr., president and chief executive officer.

    The new Center of Excellence, which is expected to be operational early in the third quarter of 2013, will leverage industry-leading technologies for advanced color management, planning and scheduling, and workflow management. The center will also offer distribution and kitting services similar to other Standard Register facilities including secure storage areas, order fulfillment, track and trace, and kitting, while also utilizing RF scanning, bar-coding, and RFID technology. The center’s proximity will provide easy access to United Parcel Service’s (UPS) Worldport, the world’s largest fully automated package handling facility. The combination of capabilities, technology, processes and location will allow Standard Register to meet customers’ current and evolving business requirements.

  • Shiner International Announces Financial Results for the Fourth Quarter and Fiscal Year 2012

    Packaging News, |

    3/27/2013 12:00:00 AM

    Shiner International, Inc., an emerging global supplier of packaging solutions for food, tobacco and consumer products, today announced its financial results for the fourth quarter and fiscal year 2012.

    Fourth Quarter 2012 Financial Performance

    Revenues for the three months ended December 31, 2012 decreased $1.35 million (or 5.89%), to $21.56 million compared to $22.91 million for the corresponding 2011 period. The decrease was primarily attributable to decreased revenues from coated film, color printing advanced film and water-based latex, which was partially offset by increase in revenues generated from BOPP tobacco. For the three months ended December 31, 2012, revenue from coated film decreased $5.76 million (or 25.44%) to $16.88 million, from $22.64 million for the corresponding 2011 period, and sales from color printing decreased $2.44 million (or 42.51%) to $3.30 million, from $5.74 million for the corresponding 2011 period. For the three months ended December 31, 2012, revenue from BOPP tobacco increased $6.35 million (or 16.53%) to $44.76 million, from $38.41 million for the corresponding 2011 period; revenue from advanced film decreased $1.39 million (or 17.10%) to $6.74 million, from $8.13 million for the corresponding 2011 period; and revenue from water-based latex decreased $0.02 million (or 5.26%) to $0.36 million, from $0.38 million for the corresponding 2011 period.

    Shiner's gross profit for the three months ended December 31, 2012 was $0.53 million, a profit margin of 2.46%, a decrease of 10.69% from 13.15% for the corresponding 2011 period. The decrease in profit margin was primarily a consequence of an increase in labor costs and depreciation of new property.

    Operating loss for the three months ended December 31, 2012 was $5.40 million, compared to an operating loss of $0.81 million for the same quarter ended December 31, 2011. Selling, general and administrative expenses for the three months ended December 31, 2012 decreased by 44.76%, or $1.71 million, to $2.11 million in 2012, compared to $3.82 million for the corresponding 2011 period. General and administrative expenses decreased during the 2012 period mainly due to a $0.40 million decrease in insurance and a $0.30 million decrease in sales commissions. There was also an increase of $2.04 million and $1.78 million in impairment loss of goodwill and patents, respectively, during the 2012 period.

    Shiner reported a net loss of $4.98 million for the three months ended December 31, 2012, compared to a net loss of $0.55 million in the same period of 2011. Earnings per share for the quarter were ($0.18), compared to earnings of ($0.02) per share for the same period of 2011.

  • RDA Gets Approval for Bankruptcy Financing Agreement

    End User News, |

    3/27/2013 12:00:00 AM
    RDA Holding Co., which owns The Reader’s Digest Association, has received approval for a key part of its bankruptcy reorganization: the U.S. Bankruptcy Court for the Southern District of New York has approved a plan that will raise $105 million to fund ongoing operations as part of a “debtor-in-possession” financing agreement.
     
    Along with the financing agreement, the court also granted approval to measures to help RDA continue its business operations, including authority to pay employees and freelancers on normal schedules.
     
    The company filed its reorganization plan and disclosure statement on Thursday, March 21, and is due back in court April 25 for a hearing to consider approval of the disclosure statement.
     
    RDA filed for bankruptcy protection in February -- its second Chapter 11 filing in four years. At the time, the company said it had already obtained the consent of over 70% of its secured note-holders to convert approximately $465 million of debt into equity in the company, thus giving creditors a stake in the company in exchange for wiping out debt.
  • Mario Plourde to Succeed Alain Lemaire as President of Cascades

    Producer News, |

    3/27/2013 12:00:00 AM
    Today, Alain Lemaire, in the company of his brothers Bernard and Laurent Lemaire, announced that he will be passing the position of President and Chief Executive Officer of Cascades to Mario Plourde, now Chief Operating Officer of the company. The transfer will take place on May 9, following a two-year transition period.
     
    Lemaire made this important announcement this morning at a press conference. He also indicated that he will continue to serve as Chairman of the Board of Directors. "Of course, I will continue to support Mario in his daily activities, and I also intend to remain involved with the company, returning to my original passion by putting my technical skills to use in the various groups," he added. Bernard and Laurent will also remain active, continuing to serve on the Board of Directors and the Executive Committee, and participating in the company's strategic planning.
     
    "In February 2011, we announced the nomination of Mario Plourde to the position of Chief Operating Officer. He belongs to the new generation of competent and dedicated leaders at Cascades, and he is a true believer in our values. At the same time, we announced the beginning of a transition process that would ensure a sound business succession. We had a plan, and we carried it out. After nearly 10 years at the head of the company, my brothers and I feel it is time to pass on the torch and make room for the younger generation," said Alain Lemaire.
  • WTI Drops From Near Five-Week High as U.S. Crude Supplies Rise

    Miscellaneous News, |

    3/27/2013 12:00:00 AM

    West Texas Intermediate slipped from near a five-week high amid rising crude inventories in the U.S., the world’s biggest consumer of the commodity.

    Futures fell as much as 0.5 percent. Crude stockpiles advanced 3.7 million barrels last week, the American Petroleum Institute said yesterday. The euro fell to its weakest level since Nov. 21 against the dollar, undermining the appeal of commodities priced in the U.S. currency. An Energy Department report today may show a gain of 1.3 million, according to a Bloomberg News survey. WTI rose 1.6 percent yesterday, the most this year, as U.S. durable goods orders and home prices climbed more than economists forecast.

    “The crude inventory builds reported last night are weighing on prices,” said Robert Montefusco, a senior broker at Sucden Financial Ltd. in London, who earlier this month correctly predicted oil prices would decline. “The euro is getting bashed as Europe’s situation looks dire, which is also pressuring oil.”

    WTI for May delivery dropped as much as 49 cents to $95.85 a barrel in electronic trading on the New York Mercantile Exchange, trading for $95.91 at 9:37 a.m. London time.

  • Newton Falls sale as intact paper mill fails

    Producer News, |

    3/27/2013 12:00:00 AM

    The sale of the Newton Falls paper mill as an intact operation has failed and the assets will be liquidated in the latest turn of events surrounding the plant.

    Scotia Investments Vice President Robert G. Patzelt wrote in an email that the special bid received at the end of an auction Thursday for the entirety of the mill’s equipment was terminated during finalization of the details.

    “The owners are disappointed with this development as they put tremendous time and effort into selling the entire mill which was seen to be in the best interest of all the stakeholders and especially the mill and the community,” Mr. Patzelt wrote. “Ideally, we wanted the mill to be sold as a going concern, or, in its current state of being ready to be reopened by another party.”

    Scotia will proceed with the disposition of the mill’s assets in an orderly manner, he wrote.

    “We have entered discussions with the successful bidders who participated in the auction last Thursday. It is our hope that as many as possible will purchase the assets bid upon,” Mr. Patzelt wrote. “All other assets will be sold to interested parties in due course.”

    Scotia Investments, Halifax, Nova Scotia, the parent company of Newton Falls Fine Paper, operated the mill from 2007 to 2010. Last summer, the owners changed their focus from finding an equity partner to restart the mill to one of finding a buyer.

    “For the past 27 months, the mill and its machinery has been preserved in a state of readiness and a core team of ten people has been employed on site managing the process, conducting tours with interested parties and ensuring the mill and site is secure,” Mr. Patzelt wrote.

  • Verso Paper Corp. Awards Verso Forest Certification Grant to PalletOne of Maine

    Environmental News, |

    3/27/2013 12:00:00 AM

    Verso Paper Corp. today announced that PalletOne of Maine has been selected to receive a Verso Forest Certification Grant. The grant will enable PalletOne to seek independent Forest Stewardship Council™ (FSC®) Chain of Custody (COC) certification for its pallet mill operation in Livermore Falls, Maine.

    PalletOne already purchases a portion of its wood supply from FSC-certified forests in New England and sells residual wood chips to Verso's paper mill in nearby Jay, Maine. Achieving COC certification will allow PalletOne to increase the amount of FSC-certified material available to Verso and ultimately to Verso's paper customers who prefer FSC-certified products. In addition to the grant, Verso will provide technical expertise to assist in the certification process.

    "Verso has a long history of promoting sustainability by supporting a variety of certification initiatives within our wood supply chain," said Verso Fiber Supply Manager Jim Contino. "We launched the Verso Forest Certification Grant program last year to increase certified fiber available to our mills, and the PalletOne project is well suited to our criteria. PalletOne is a trusted and long-term chip supplier to Verso's Androscoggin Mill and we are pleased to award this grant as part of our ongoing effort to increase the availability of certified fiber in the marketplace."

  • Bertelsmann is growing and progressing in reshaping the Group

    End User News, |

    3/27/2013 12:00:00 AM

    Bertelsmann has made good progress in reshaping the Group, and for the ongoing process can rely on strong financials for 2012: growth in revenues, a stable operating EBIT, and a slight increase in Group profit. In the years ahead, Bertelsmann is targeting for continued organic and acquisition growth. First steps are the planned combination of Random House and Penguin as one of the world's leading book publishers; the complete ownership of the music rights company BMG; and the establishment and expansion of new, mainly digital, businesses in sectors and regions with high-growth potential.

    Bertelsmann Chairman & CEO Thomas Rabe said: “Bertelsmann is undergoing a fast-paced and sustained process of change. In 2012, and in the first months of this year, we made important strategic decisions for improving our growth profile. This will have a positive impact already in this current year: Both the future combination for our book publishing business and the BMG full acquisition, once the regulatory approvals have been received, will result in significant additions to our revenues. We will maintain this accelerated pace, particularly in the expansion of our growth platforms, such as television production, financial services, rights management, and education. Additionally, we plan to launch business information as a new area of enterprise. All these measures are aimed at making Bertelsmann a faster-growing, more digital, and more international company over the next few years. We are well on track to achieve this.”

    Positive impetus in 2012 mainly came from the Random House book-publishing group’s strong portfolio of bestsellers, from the German TV business, and growing services businesses. In a difficult economic environment, Group revenue in 2012 grew by 4.5 percent to €16.1 billion (previous year: €15.4 billion); organic growth was 3.1 percent. The year’s operating EBIT of €1.74 billion was nearly on par with the high level of the prior year (previous year: €1.76 billion). Record results from important divisional profit centers contributed to this: for example, from the book sector overall; Mediengruppe RTL Deutschland; Gruner + Jahr’s China business; and Arvato Infoscore’s financial services unit. This was offset by declining sales in some major advertising markets – especially in the print sector – and scheduled expenditure for reshaping the Group.

    The return on sales of 10.8 percent (previous year: 11.4 percent) demonstrates that profitability remains at a good level. Despite the impact of high special items, mainly in structurally declining businesses like printing, replication, and direct marketing, as well as the media businesses in Southern Europe, Group profit increased slightly to €619 million after €612 million in the prior year.

  • PPPC Releases North American Printing & Writing Data for Feb 2013

    Producer News, |

    3/26/2013 12:00:00 AM

    Total North American printing and writing paper shipments fell 8.5% year over year in February, off from an approximate 1% drop in January. The February comp was 300 basis points tougher. Shipments are off 4.6% year to date.

    Shipments slipped 11.2% sequentially (normal 6% seasonal sequential drop). This brings shipment activity to a new 13+ year low. February shipments were a level 10% below the 12-month rolling average. Adjusting for calendar days, shipments fell 1.6% month over month, to a level 2% below the 12-month average.

    Imports rose 2.8% year over year but fell 0.5% sequentially. Imports were nearly 6% below the 12-month average. Imports are up 1.3% year to date. Exports fell 3% year over year and 9.5% sequentially. February exports were about 1% below the 12-month average. Exports are up 4.5% year to date.

    Net imports rose about 11.5% year over year and 13% month over month. February net imports were 10.5% below of the 12-month run rate.

    Demand was slightly stronger than shipments, off 7.7% year over year. This compares to more modest 1.7% erosion in January. Demand fell 10% sequentially. February demand was 10% below the 12-month average. Demand is off 4.4% year to date.

  • Congress Passes Continuing Resolution to Preserve Saturday Mail

    End User News, |

    3/26/2013 12:00:00 AM
    Both the Senate and the U.S. House of Representatives approved legislation that blocks the U.S. Postal Service's plan to halt Saturday delivery of periodicals, first-class and standard mail. The Government Accountability Office (GAO) also determined this week that the USPS is bound by the ruling, due to the financial support provided by the U.S. Government. The legislation is a continuing resolution that preserves mandatory six-day mail delivery. The USPS argues its plan still adheres to the law because it will be maintaining package and Priority Mail deliveries.
     
    Prior to Congress's resolution, the USPS was planning to carry out its scheduling changes in August, however there now seems to be uncertainties going forward. The continuing resolution still needs final approval from President Obama. Once in place, the USPS must decipher the language within the provision and determine how it effects its planned schedule changes. In other words, the USPS may still be upholding the law by altering its six-day service.
     
    As it stands, the USPS is losing approximately $25 million dollars a day. It's reported that scaling back Saturday delivery will save the government-funded private entity upwards of $2 billion annually.
     
    Eliminating Saturday delivery is one step towards closing a $20 billion budget gap by 2016.
     
    It is also important to note that several public polls support the USPS's decision to scale back its Saturday delivery. However, this it is likely not a sentiment weekly magazine publishers share, as it means tighter editorial schedules.
  • Postal Service Can't Cut Saturday Delivery, U.S. GAO Says

    End User News, |

    3/26/2013 12:00:00 AM

    The U.S. Postal Service doesn't have the legal authority to cut Saturday mail delivery as Postmaster General Patrick Donahoe has said it will do, the Government Accountability Office said today.

    The service is bound by law to deliver mail six days a week, and is incorrect that a temporary measure recently used to fund U.S. government operations released it from that requirement, the GAO said in a letter to Representative Gerald Connolly, a Virginia Democrat, who requested that the watchdog agency look at the matter.
     
    Some weekly magazine publishers have been exploring alternate delivery methods so the plan to cut Saturday mail delivery wouldn't put another day in between them and their readers.
     
    Now they may have a reprieve. The plan to cut delivery of letter mail while retaining package delivery on Saturdays "rests upon a faulty USPS premise," GAO General Counsel Susan Poling said in the letter.
     
    The service, after losing $15.9 billion last year and reaching its legal borrowing limit, said last month it plans to eliminate a day of mail delivery to save about $2 billion a year. It said today it "strongly" disagrees with the GAO's assessment.

  • Wausau Paper Signs Letter of Intent to Divest Specialty Paper Business

    Producer News, |

    3/26/2013 12:00:00 AM

    Wausau Paper announced that it has signed a non-binding Letter of Intent to sell its specialty paper business to a new company (“NewCo”) to be formed and controlled by investment funds sponsored by KPS Capital Partners L.P. (“KPS”), a New York based private equity firm with significant experience in the paper industry and in completion of complex corporate carve-outs.

    KPS has also signed a non-binding Letter of Intent to acquire another company and combine it with the specialty paper business within NewCo. Wausau has the option to have an initial ownership position in NewCo of up to 25 percent with the opportunity to earn up to an additional 5 percent interest upon NewCo reaching certain performance thresholds.

    Key highlights of the transaction are as follows:
    • NewCo will acquire the assets of Wausau’s Rhinelander and Mosinee mills; the assets of Wausau’s Brainerd mill are not included in the transaction;
    • The transaction requires that the United Steelworkers ratify new collective bargaining agreements with NewCo;
    • Wausau will retain legacy defined benefit pension and post-retirement liabilities related to the businesses being sold to NewCo; and
    • The initial cash purchase price will be approximately $130 million, subject to KPS’ confirmatory due diligence and adjustments for the ultimate treatment of certain transaction related liabilities and customary post closing adjustments.

  • Domtar Sponsors World Book Night U.S.

    Producer News, |

    3/26/2013 12:00:00 AM

    Joining an ambitious campaign to encourage reading, Domtar Corporation (NYSE: UFS) (TSX: UFS) today announced it will sponsor World Book Night U.S. The effort will distribute 500,000 free books at thousands of locations across America on April 23, 2013.

    World Book Night will rely on 25,000 volunteer book lovers, including Domtar staff at two dozen facilities. They will personally hand out specially printed copies of a wide range of books to people who either don't read frequently or don't have the means or access to printed books. Domtar's PAPERbecause campaign will also help spread the word about World Book Night by advertising in media such as The New York Times, Inc., Forbes, Fortune, Bloomberg BusinessWeek, Smithsonian, and The Week and Time.

    Domtar's commitment comes as part of its award-winning PAPERbecause campaign (www.paperbecause.com) that showcases paper's sustainability and enduring value in a digital age.

  • Domtar to Acquire Xerox's U.S. and Canadian Paper Business

    Producer News, |

    3/26/2013 12:00:00 AM

    Domtar Corporation, one of the largest manufacturers and distributors of paper in North America, has signed, through its operating subsidiaries, an agreement to acquire Xerox's (NYSE: XRX) paper and print media products business in the United States and Canada.

    "The Xerox brand is well regarded in the paper markets it serves," said John D. Williams, Domtar's President and Chief Executive Officer. "This deal brings together Xerox's branded papers with Domtar's already comprehensive paper offering and will allow us to better serve our customers."

    While Xerox does not manufacture paper, the company has long distributed through its brand name a broad range of coated and uncoated papers and specialty print media including business forms as well as carbonless and wide-format paper. This business will now become part of Domtar's pulp and paper segment, and Domtar will market and distribute Xerox-branded paper and print media.

    "As Xerox broadens its business to focus more on services and innovative document technology, we saw an opportunity for our paper business clients to be better served by a leader in the industry," said Frank Edmonds, senior vice president, Xerox Global Paper and Supplies Distribution Group. "It's an across-the-board win.  Xerox benefits through a trademark licensing agreement with Domtar; Domtar adds a well-regarded brand to its portfolio; and our respective clients get a simplified, 'one-stop' experience through Domtar's extensive offerings and distribution network."

  • Resolute Forest Products Issues 2012 Annual Report Including Overview of 2012 Sustainability Performance

    Producer News, |

    3/26/2013 12:00:00 AM
    Resolute Forest Products today issued its 2012 Annual Report, which includes an overview of the Company's 2012 sustainability performance. While Resolute will continue to produce its Annual Sustainability Report using Global Reporting Initiative (GRI) guidelines, the Company is now also integrating sustainability performance information into its annual financial disclosure.
     
    "Resolute recognizes that focusing on sustainability is good business. Our decision to produce a report combining financial and sustainability performance demonstrates our commitment to balancing environmental, social and economic priorities," said Richard Garneau, President and Chief Executive Officer. "We work hard to integrate sustainability into the way we do business because we believe this approach brings value to our customers, our shareholders, our employees and the communities where we live and work."
     
    In 2012, Resolute made important progress on several of its key sustainability commitments, including:
    Carbon Management - As part of its membership in the World Wildlife Fund's Climate Savers program, Resolute committed to achieving a reduction in absolute greenhouse gas emissions of 65% below 2000 levels by 2015. In 2012, Resolute achieved a reduction of over 62% and is on track to meet its WWF commitment.
    Fiber Sourcing - The Company obtained chain of custody certification at all of its North American pulp and paper mills and wood products facilities, to either Forest Stewardship Council® (FSC)®, Programme for the Endorsement of Forest Certification (PEFC) or Sustainable Forestry Initiative® (SFI®) standards.
    Forest Certification - Resolute is at the forefront of fiber certification, with 100% of the woodlands managed by the Company certified to internationally recognized sustainable forest management standards. Resolute is progressing toward its commitment to add FSC certification to 80% of its managed woodlands by 2015, and as of press time for the report, the Company had reached 65% certification. In 2012, Resolute achieved the distinction of being the largest manager of FSC-certified forests in the world. Taken all together, the Company's FSC-certified forests cover an area larger than Greece.
    Product Stewardship - The Company launched its AlignTM brand of eco-efficient, budget-friendly, high-performance papers, which are made using 50% less fiber and fewer chemicals than competitive papers. Depending on the grade, the carbon footprint for Align papers is 35% to 86% lower than for competitive papers.
  • McGraw-Hill Completes $2.5 Billion Sale of Education Unit to Apollo Global Management

    End User News, |

    3/26/2013 12:00:00 AM

    On March 22, McGraw-Hill Cos. chairman/president/CEO (since 1998) Harold ("Terry") McGraw III announced the closing of its $2.5 billion sale of McGraw-Hill Education to a group of investment funds affiliated with Apollo Global Management.
     
    This completes the transaction that was announced on Nov. 27, 2012. 

    The genesis came in the summer of 2011, when McGraw was under pressure by investors to restructure MH and raise revenues. The initial result on Sept. 12, 2011, was to spin off the education unit (college textbooks, etc.) from the better-performing Standard & Poor's, J.D. Power and Associates, MH Construction, Platts Oilgram, and Aviation Week & Space Technology. They are the foundation for what will be the renamed McGraw-Hill Financial pending shareholder approval later this spring.

  • Esquire Launches in Vietnam

    End User News, |

    3/26/2013 12:00:00 AM

    The world of Esquire gained its 27th member on March 26 with the announced launch of Esquire Vietnam. Partner is Sun Flower Media, which already publishes Cosmopolitan and Harper's Bazaar under the auspices of Hearst Magazines International.
     
    That the edition is small--just a 15,000 print run with a cover price of 35,000 dong (roughly $1.67)--does not downplay the historic significance.  Esquire's reporting of the Vietnam War during the 1960s and 1970s received widespread attention and was read by many GIs stationed in such places as Da Nang, Hué and Saigon. 

    It is appropriate that the latter, now Ho Chi Minh City, is where the launch event was held.

  • Harte-Hanks Makes Personalized, Highly Variable Content Available to Direct Mail with Acquisition of High-Speed Digital Print Technology

    Printer News, |

    3/26/2013 12:00:00 AM

    Harte-Hanks, Inc., a worldwide direct and targeted marketing company, announced today the immediate availability of high-speed digital print capabilities that make direct mail relevant, resonant and a fully integrated part of today’s multi-channel marketing environment. Harte-Hanks’s investment in digital print technology is a key part of the company’s commitment to reach the right customer, with the right message, through the right channel, at the right time.

    “The excitement and promise of email communications was premised on personalization, and now Harte-Hanks is delivering via digital print that same ability to quickly create highly variable, customized content to our direct mail customers,” said Tony Paul, executive vice president, customer delivery, Harte-Hanks Direct Marketing. “Now, each mail moment becomes a data-driven ‘touch’ that is an integral part of insight-driven omnichannel marketing strategies that integrate and automate content across all channels in order to engage and interact with customers at every step of their purchase journey.”

    Harte-Hanks’s digital print solution increases customization, maximizes operating and postal savings and automates the marketing process to increase direct mail ROI while allowing customers to craft personalized offers and messages quickly and easily. The company is an industry leader in direct marketing, providing strategic and tactical best practices based on over 40 years of direct mail experience, offering coast-to-coast and worldwide geographic presence, a strong relationship with the United States Postal Service, and effective end-to-end program management.

  • EUROGRAPH Publishes February 2013 Statistics for the European Graphic Papers Industry

    Producer News, |

    3/26/2013 12:00:00 AM

    Total European shipments of Graphic Papers declined 6.5% vs. February 2012 and are down 3.2% year-to-date.

    Total European shipments of Newsprint declined 6.7% vs. February 2012 and are down 5.0% year-to-date.

    Total European shipments of SC-Magazine declined 4.6% vs. February 2012 and are down 0.9% year-to-date.

    Total European shipments of Coated Mechanical Reels declined 9.6% vs. February 2012 and are down 6.5% year-to-date.

    Total European shipments of Uncoated Mechanical increased 2.3% vs. February 2012 and are up 3.2% year-to-date.

    Total European shipments of Coated Woodfree declined 6.3% vs. February 2012 and are down 2.2% year-to-date.

    Total European shipments of Uncoated Woodfree declined 7.2% vs. February 2012 and are down 1.8% year-to-date.

  • Publishers challenge book resale ruling

    End User News, |

    3/26/2013 12:00:00 AM

    US publishers are poised to take their battle to stop books bought abroad being resold in the US to Congress, after the Supreme Court ruled against them in a case that will have broad implications for global commerce.
     
    In the case of Kirtsaeng v Wiley, the court ruled in favour of Supap Kirtsaeng, a California student who asked his family in Thailand to buy textbooks for him at low international prices so he could resell them at a profit on eBay.

    Shares in educational publishing companies fell slightly in the wake of the decision, as analysts warned that the grey market for textbooks could affect up to 50 per cent of a publisher’s educational business.
     
    Tom Allen, president and chief executive of the Association of American Publishers, said his group was prepared to defend publishers’ rights in any legislative action pursued by lawmakers in Congress.

    “[The] copyright decision by the US Supreme Court ignores broader issues critical to America’s ability to compete in the global marketplace,” he said in a statement.

  • WTI Oil Trades Near Five-Week High; U.S. Stockpiles Seen Rising

    Miscellaneous News, |

    3/26/2013 12:00:00 AM

    West Texas Intermediate traded close to the highest level in five weeks. U.S. crude inventories probably rose as domestic output stayed near the strongest in two decades, a Bloomberg News survey showed.

    Futures were little changed after advancing a second day yesterday. Crude stockpiles increased by 1.4 million barrels to 384.1 million last week, the highest since June, according to the median of seven analyst estimates before an Energy Information Administration report tomorrow. Saudi Arabian Oil Co., the world’s biggest crude exporter, expects to become the top producer of refined products, Khalid al-Falih, the company’s chief executive officer, said today in Beijing.

    “Prices have come down to more realistic levels and we expect them to remain here,” said Filip Petersson, a commodities strategist at Stockholm-based SEB AB, who predicts that Brent, the European benchmark, will average $107.50 a barrel during the second quarter.

    WTI for May delivery was at $95.22 a barrel, up 41 cents, in electronic trading on the New York Mercantile Exchange at 9:49 a.m. in London.

  • Penton consolidates Farm Progress brands in new ag group

    End User News, |

    3/26/2013 12:00:00 AM

    Four months after acquiring Farm Progress Cos. from Fairfax Media, Penton Media has announced a new structure for its Agricultural Group that integrates the recently added properties.

    As part of the restructuring, five Farm Progress brands that overlapped with Penton's geographic coverage—Carolina-Virginia Farmer, Southern Farmer, Mid-South Farmer, The Farmer-Stockman and California Farmer—will be shuttered. Penton's Farm Industry News will be recast to cover technology for production agriculture. Eighteen positions were eliminated in the reorganization.

    Audience development, technology and production support for the combined businesses will be consolidated under existing Penton operations.

  • Kohl's Department Stores Recognized with 2013 Energy Star® Partner of the Year - Sustained Excellence Award

    End User News, |

    3/26/2013 12:00:00 AM

    Kohl’s Department Stores today announced it will be recognized by the U.S. Environmental Protection Agency (EPA) as a recipient of the 2013 ENERGY STAR® Partner of the Year – Sustained Excellence Award for the company’s continued leadership in protecting the environment through superior energy efficiency initiatives. According to EPA, the 2013 Partner of the Year – Sustained Excellence Awards are given to a select group of organizations that have exhibited outstanding leadership year after year. Award recipients have reduced greenhouse gas emissions by setting and achieving aggressive goals and employing innovative energy efficiency approaches. Award winners are selected from the nearly 20,000 organizations that participate in the ENERGY STAR program. Kohl’s also received a Sustained Excellence Award in 2012 and Partner of the Year Awards in 2011 and 2010.

    “Kohl’s is honored to be recognized by EPA with a 2013 Sustained Excellence Award,” said John Worthington, Kohl’s chief administrative officer. “As a major retailer with stores and corporate facilities nationwide, it is our responsibility to carefully manage our use of resources and strive to reduce our carbon footprint. Our partnership with ENERGY STAR has been instrumental in providing tools to assess the performance of our buildings, set strategy and develop action plans. Since joining the program in 1998, we have been able to ENERGY STAR certify nearly two-thirds our stores. This accomplishment translates to both cost savings and more efficient operations.”

    "EPA is recognizing Kohl’s for earning EPA’s highest ENERGY STAR award - the 2013 Partner of the Year - Sustained Excellence Award,” said Bob Perciasepe, EPA’s acting administrator. “Kohl’s leads the field with their commitment to energy efficiency and demonstrates how all Americans can save energy, save money and create a healthier environment.”

  • Starbucks to expand loyalty program to Teavana and supermarkets

    Producer News, |

    3/22/2013 12:00:00 AM
    Seattle -- Starbucks Coffee Co. is expanding its customer loyalty program to the supermarket channel and its Teavana stores as it looks to double membership from 4.5 million members at the end of October 2012 to approximately nine million members by the end of fiscal 2013.

    Starbucks made the announcement at the company’s annual shareholders on Wednesday in Seattle. Also at the meeting, Starbucks investors rejected a shareholder proposal to prohibit the chain from making political contributions or forming a political action committee.
  • Deloitte: Consumer spending remains steady in February

    Miscellaneous News, |

    3/22/2013 12:00:00 AM
    New York — The Deloitte Consumer Spending Index remained steady in February primarily as a decline in initial unemployment claims and a rise in real average hourly earnings offset negative forces.

    "The economic fundamentals that influence consumer spending are aligning," said Patricia Buckley, director economic policy and analysis, Deloitte LLP, and author of the monthly Index. "Financial institutions and the markets are stronger, and consumer confidence and real spending appear to be weathering the 2013 payroll tax increases fairly well.  Absent the uncertainty surrounding the impact of the sequester, an economic turnaround would likely be imminent."
  • Williams-Sonoma Q4 income up 9%, topping expectations

    Miscellaneous News, |

    3/22/2013 12:00:00 AM
    San Francisco -- Williams-Sonoma Inc.'s fourth-quarter net income rose a better-than-expected 9%, helped by strong online sales, gains at its West Elm brand and the benefit of an extra week in the period.

    The company also said it is increasing its quarterly cash dividend by 41% to 31 cents per share, and announced plans to buy back up to $750 million of its shares over the next three years.
  • City Sports opening 11,000-sq.-ft. store in Manhattan

    Miscellaneous News, |

    3/22/2013 12:00:00 AM
    Boston -- City Sports announced that it will open its 22nd retail location in New York City, on March 26. It will be City Sports' third location in New York City.

    The new store, in the city’s financial district, will be the company’s largest retail location to date, with nearly 11,000 sq. ft. of selling space devoted to athletic apparel, footwear and equipment.

    "We are absolutely thrilled to be opening a third retail location in New York City," said City Sports president and CEO Edward Albertian.
  • Delhaize banners earn Energy Star award

    Environmental News, |

    3/22/2013 12:00:00 AM
    Salisbury, N.C. — Delhaize's Food Lion, Harveys and Reid's chains have earned their 12th consecutive Energy Star award from the U.S. Environmental Protection Agency.

    "We are honored to receive this Energy Partner of the Year Sustained Excellence award for the twelfth year and are committed to increasing energy efficiency in our stores," Susan Sollenberger, director of energy, maintenance and equipment purchasing at Delhaize America South. "Food Lion, Harveys and Reid's remain dedicated to environmental stewardship and are proud to continue to lead the way with energy conservation initiatives."
  • Bi-Lo names president

    Miscellaneous News, |

    3/22/2013 12:00:00 AM
    Jacksonville, Fla. — Anthea Jones has assumed the role of president at Bi-Lo. He will continue to serve as SVP operations.

    Jones comes to the position from the Bi-Lo side of the recent merger between regional supermarkets Bi-Lo and Winn-Dixie. He signed on with Bi-Lo in 1999 after 17 years at Food Lion. He also is the immediate past board chairman for the Global Market Development Center.
  • ‘Big Data’ in HR Can Improve Retailers’ Profits

    Miscellaneous News, |

    3/22/2013 12:00:00 AM
    A friend who’s a retail chain operations VP recently told me about his company’s expansion plans, but he wasn’t sure they were expanding in the right ways. That’s when we talked about how data can answer strategic questions with certainty. He already had some of the data, and he could easily get other data that could show which specific departments and employees consistently perform best during which hours and days to determine where to expand.

    In the past, retail executives’ success required great intuition and risk-taking abilities bound with hope and luck. Today ‘big data’ is replacing intuition and hope. With technological advances, organizations are now able to collect large amounts of data and turn it into the fuel that drives a predictive decision-making machine. Similar to how retailers analyze data to learn shoppers’ habits, employee selection and succession can also leverage big data to predict success.
  • Staples launches Windows Store app

    Miscellaneous News, |

    3/22/2013 12:00:00 AM
    Framingham, Mass. — Staples has launched its own Windows Store app for Staples.com. The app provides customers with access to Staples Rewards and features tools that make it easier for small businesses to research and shop for everything they need for their business or home office, the company said.

    "Staples customers are very excited about the new computers and tablets featuring Windows 8, and we're enhancing the Staples.com experience for Windows 8 users," said Steve Bussberg, SVP Staples.com. "Staples makes things easier for small businesses by using the latest technology, and the Staples Windows Store app enables customers to shop Staples even faster.
  • Union strikes at Port Angeles paper mill

    Producer News, |

    3/22/2013 12:00:00 AM
    PORT ANGELES, Wash. — Union members at a Port Angeles paper mill are on strike.

    Members of the Association of Western Pulp and Paper Worker local walked off the job Wednesday at Nippon Paper Industries USA in a contract dispute.
  • Walgreens profit rises in Q2; unveils blockbuster partnership

    Producer News, |

    3/21/2013 12:00:00 AM
    New York -- Walgreens reported a better-than-expected profit on flat sales for its second quarter Tuesday morning and unveiled an expanded partnership with AmerisourceBergen that could give the pharmacy operator an equity position and seat on the drug wholesaler’s board.

    Sales during the company’s second quarter ended Feb. 28, were flat at nearly $18.7 billion with samestore prescription sales down 2.7% and same-store front end sales down 2.6%. The prior-year comparison period included an extra day in February 2012. However, earnings per share adjusted to exclude several one-time charges increased 9% to 96 cents, three cents better than consensus forecasts, from 88 cents the prior year. Adjusted net income increased 19.3% to $915 million from $767 million.
  • Report: Sam's Club, Amazon tops in retail customer experience

    Miscellaneous News, |

    3/21/2013 12:00:00 AM
    Waban, Mass. -- Research results released Tuesday by consulting firm Temkin Group revealed, among retailers, Sam’s Club and Amazon earned top marks.

    According to the 2013 Temkin Experience Rankings which queried 10,000 U.S. consumers about customer service issues across 246 companies in 19 industries, Sam's Club and Amazon earned the top spots in the retail sector and RadioShack was the lowest rated retailer for the third consecutive year.
  • DSW Q4 profit increases

    Producer News, |

    3/21/2013 12:00:00 AM

    Columbus, Ohio -- DSW Inc. reported Tuesday that net income for the quarter ended Feb. 2 rose to $31.4 million from $23.1 million in the year-ago period. Sales for the fourth quarter increased 15.7% to $594.3 million, and same-store sales rose 3.6%.

    For the full year, profit increased to $152.2 million, from $136.1 million in the prior fiscal year. Sales rose 11.5% to $2.26 billion from $2.02 billion.

  • Rona appoints former Metro exec as new president and CEO

    Producer News, |

    3/21/2013 12:00:00 AM
    Boucherville, Quebec, Canada -- Canadian home-improvement chain Rona Inc. announced Tuesday it has named Robert Sawyer as president and CEO, effective next month.

    Sawyer was previously an executive at grocery chain Metro Inc.

    Rona’s acting CEO Dominique Boies will remain as company CFO.
  • Meijer expands Made in Michigan initiative

    Miscellaneous News, |

    3/21/2013 12:00:00 AM
    Grand Rapids, Mich. — Meijer has expanded its program that supports Michigan small businesses to feature 55 new Michigan-made grocery products in all its stores statewide, Meijer co-chairman Doug Meijer announced Tuesday.

    "Meijer is committed to supporting Michigan businesses, and the Made in Michigan initiative is a great opportunity to highlight some fantastic small businesses throughout the state," Meijer said. "The response we received from our customers last year about this initiative was overwhelming, which is why we decided to further invest and expand this selection into all our Michigan stores."
  • Wendy’s to expand into Equador

    Producer News, |

    3/21/2013 12:00:00 AM
    Dublin, Ohio -- The Wendy's Co. announced Tuesday an agreement with The Eljuri Group to develop 20 Wendy's restaurants in Ecuador.

    As the largest business group in Ecuador, Eljuri said it expects to open the first two Wendy's locations in 2013 in Guayaquil, a coastal city with a population of 2.3 million people.
  • Aeropostale posts Q4 loss; will open 60 kids stores in 2013

    Producer News, |

    3/20/2013 12:00:00 AM
    New York -- Aeropostale Inc. reported an unexpected loss for its fourth quarter, hurt by declining same-store sales and store asset impairment charges. The teen apparel chain also forecast a loss for the current quarter, citing markdowns and a weak economy.

    "We anticipate a challenging first quarter as a result of expected margin pressures from holiday carryover inventory, and the impact of a weak macroeconomic environment,” said Aeropostale CEO Thomas Johnson.
  • Destination XL Group profit falls; to open 230 DXL stores by 2016

    Producer News, |

    3/20/2013 12:00:00 AM
    Canton, Mass. -- Destination XL Group reported Friday that net income for the quarter ended Feb. 2 dropped to $4.2 million from $33.5 million in the year-ago period, as the company continued its transition from Casual Male to Destination XL.

    Fourth-quarter revenue increased to $114.9 million, compared with $111.1 million last year, and same-store sales edged up 0.5%. By brand, DXL stores saw a same-store sales rise of 15% in the quarter, while Casual Male dipped 2.3%.
  • H&M amping up U.S. expansion

    Producer News, |

    3/20/2013 12:00:00 AM
    New York -- Swedish fast-fashion powerhouse H&M is revving up its U.S. expansion. The retailer opened 40 stores in the United States in 2012, and hopes to open even more this year, according to a report in Women’s Wear Daily.

    H&M, as previously reported, will open a 42,500-sq.-ft. flagship at 4 Times Square, in Manhattan, that will boost an enormous LED billboard signage display. The retailer will also open a store on Fifth Avenue at 48th Street that, at 57,000 sq.-ft., will be its largest in the world to date.
  • Caribou Coffee no longer to open shops inside J.C. Penney

    Miscellaneous News, |

    3/20/2013 12:00:00 AM
    Minneapolis -- A Friday report by Bloomberg said that coffee purveyor Caribou Coffee has lost interest in opening shops inside J.C. Penney Co. stores.

    The revelation comes just six months after Penney CEO Ron Johnson announced Caribou Coffee as a potential partner.

    Caribou CEO Mike Tattersfield said in a Friday emailed statement that the company “does not have plans to move forward with a partnership at this time.” Tattersfield has not elaborated on the reasons for the change of heart.
  • Zumiez Q4 profit up 22%; 60 new stores planned for 2013

    Producer News, |

    3/20/2013 12:00:00 AM
    Lynwood, Wash. -- Zumiez Inc. said Thursday its fiscal fourth quarter net income rose 22.1% to $22.9 million on improved sales.

    Revenue for the quarter, ended Feb.2, (14 weeks) increased to $224.4 million from $183.9 million in the year-ago period (13 weeks). Same-store sales fell 1%.
  • Hibbett Sports Q4 income up 22%; to open 65 to 70 stores

    Producer News, |

    3/20/2013 12:00:00 AM
    Birmingham, Ala. -- Hibbett Sports reported that net income for its fiscal fourth quarter increased a better-than-expected 22.3% to $19.4 million, compared with $15.8 million for the same period last year.

    Net sales for the fourth quarter increased 14% to $217.4 million from $190.7 million in the year ago period. Same-store sales increased 4.9%.
  • Reports: Costco to expand headquarters

    Producer News, |

    3/20/2013 12:00:00 AM
    New York -- Costco Wholesale Corp. will expand its Issaquah, Wash., headquarters, according to published reports on Friday.

    The Seattle Daily Journal of Commerce reported Friday that Issaquah's director of economic development, Keith Niven, said the club retailer would expand the headquarters to take up as much as 1.5 million sq. ft.

    The Tacoma, Wash., News Tribune reported that the company currently takes up three buildings that are full.
  • Safeway names new EVP retail ops

    Miscellaneous News, |

    3/20/2013 12:00:00 AM
    Pleasanton, Calif. -- Safeway Inc. said that Bruce Everette, 61, is retiring as EVP retail operations after a 44-year career at Safeway. He will be replaced by Kelly Griffith, currently the president of merchandising.

    “We are deeply grateful to Bruce for his significant and lasting contribution to our company's success," said chairman and CEO Steve Burd. "He is the consummate operating executive whose results and people-oriented approach to the business leave an unmistakable imprint on who we are as a company."
  • Annual plastic packaging spend to reach $161.11bn

    Packaging News, |

    3/19/2013 12:00:00 AM
    Driven by growth in developing markets, the global rigid plastic packaging market will reach $161.11bn in 2013, experts predict.

    According to a new analysis from Visiongain, these emerging markets will be characterised by clear immaturity and strong economic growth and this will increase the quality and quantity of consumer purchases. The low labour costs will also incentivise multinationals to expand the scale of their operations in these markets.
  • International Paper Company Price Target Raised to $14.50 at Raymond James

    Producer News, |

    3/19/2013 12:00:00 AM
    International Paper Company (NYSE: IP) had its price target increased by Raymond James from $13.50 to $14.50 in a research note released on Thursday morning.

    A number of other analysts have also recently weighed in on IP. Analysts at Canaccord Genuity raised their price target on shares of International Paper Company from $11.00 to $13.00 in a research note to investors on Thursday. They now have a buy rating on the stock. Separately, analysts at RBC Capital cut their price target on shares of International Paper Company from $12.00 to $9.00 in a research note to investors on Wednesday, March 13th. They now have a sector perform rating on the stock. Finally, analysts at Longbow Research reiterated a buy rating on shares of International Paper Company in a research note to investors on Wednesday, March 13th. They now have a $56.00 price target on the stock.
  • Crude oil futures fall sharply on Cyprus bailout woes, firm dollar

    Miscellaneous News, |

    3/19/2013 12:00:00 AM
    Crude oil futures came under heavy selling pressure during European morning hours on Monday, as appetite for growth-linked assets weakened after news of a bailout deal for Cyprus sparked fresh concerns over the sovereign debt crisis in the euro zone.

    Oil prices struggled further due to a stronger U.S. dollar, as dollar-priced commodities become more expensive to investors holding other currencies when the greenback gains.

    The dollar index, which tracks the performance of the greenback against a basket of six other major currencies, was up 0.6% to trade at 82.89.
  • Meredith Expands Reach of Popular Media Brands to Turkey And Italy

    Miscellaneous News, |

    3/19/2013 12:00:00 AM

    DES MOINES, Iowa and NEW YORK, March 18, 2013 /PRNewswire/ -- Meredith Corporation (NYSE:MDP; www.meredith.com), a leading global media and marketing company serving women, announced several agreements that expand the reach of its popular media brands in Turkey and Italy.  


    In Turkey, Istanbul-based Dinosaurs Yayincilik ve Dijital Medya Ltd. will launch local editions of three Meredith brands: Better Homes and Gardens, Parents and More.  All three will be published under license in the Turkish language, with distribution planned via subscriptions and newsstands throughout the country.  The titles are expected to launch in April 2013.

  • Hastings Entertainment, Inc. Reports Results for the Fourth Quarter of Fiscal 2012

    Miscellaneous News, |

    3/19/2013 12:00:00 AM
    AMARILLO, Texas, March 18, 2013 /PRNewswire/ -- Hastings Entertainment, Inc. (NASDAQ: HAST), a leading multimedia entertainment retailer, today reported results for the three months and fiscal year ended January 31, 2013.  Net income was approximately $1.2 million, or $0.15 per diluted share, for the three months ended January 31, 2013 compared to a net loss of approximately $8.4 million, or $1.00 per diluted share, for the three months ended January 31, 2012.  Net loss was approximately $9.3 million, or $1.14 per diluted share, for the fiscal year ended January 31, 2013 compared to a net loss of $17.6 million, or $2.05 per diluted share, for the fiscal year ended January 31, 2012.
  • Suzano Price Increase - Paperboard

    Packaging News, |

    3/18/2013 12:00:00 AM
    Please be advised that effective withe May Production orders, Suzano Pulp and Paper will increase the prices on all Paperboard Grades $50 Per Ton.
  • Printing firm closing, laying off 57

    Printer News, |

    3/18/2013 12:00:00 AM

    RR Donnelley & Sons Co. told the state of Ohio it expects to close its Sycamore Township facility and lay off 57 workers.

    The Chicago-based commercial printing firm said the layoffs could start May 13 and be complete by the end of the month.

    The notice was sent pursuant to the Worker Adjustment and Retraining Notification Act.

    RR Donnelley told the state earlier this month that it would close a facility in Greenfield in Highland County, Ohio, and lay off 166 workers starting May 6.

  • January 2013 US commercial printing shipments up +2.4% compared to 2012

    Printer News, |

    3/15/2013 12:00:00 AM

    January 2013 commercial printing shipments were $6.3 billion, up +$148 million (+2.4%) compared to 2012. On an inflation-adjusted basis, shipments were up +$50 million (+0.8%). This followed a poor December, where shipments were down -3.4% in current dollars. The December decrease and January increase may have been affected by small and mid-size businesses delaying expenses until January as part of their management of new tax laws.

  • American Forest and Paper Association launches new initiative

    Environmental News, |

    3/15/2013 12:00:00 AM

    In keeping with the forest product industry’s legacy as a leader in sustainability, the American Forest & Paper Association (AF&PA) has announced a new initiative called “Better Practices, Better Planet 2020: Continuing AF&PA’s Commitment to Sustainability”

    This comprehensive set of quantifiable sustainability goals is the most extensive to date for a major U.S. manufacturing industry.

    With Better Practices, Better Planet 2020, the industry has set specific, challenging goals for increasing recovery of paper for recycling, increasing energy efficiency, reducing greenhouse gas emissions and promoting sustainable forestry practices, while continuing to strive for the safest workplaces possible.

    What does this mean for paper recycling?

    To remain a sustainability leader, the industry has set a goal to further increase recovery for recycling to exceed 70 percent by 2020. Industry-led efforts to increase paper recovery for recycling are among the best examples of how we are protecting our environment and meeting our economic and social commitments.
    •The paper industry has led the way by setting and achieving incremental paper recovery goals since 1990.  In the 20 years since, the recovery rate has nearly doubled.
    •In 2011, 66.8 percent of the U.S. paper consumed was recovered. By comparison, according to the EPA municipal solid waste data, only 27.1 percent of glass, 19.9 percent of aluminum and 8.2 percent of plastics consumed were recovered for recycling in 2010.
    •In 2010, 87 percent of the population had access to curbside and/or drop-off paper recycling
    •To help educate students and their families about the importance of paper recycling, AF&PA carried out programs in conjunction with Kaleidoscope and Keep America Beautiful to deliver curricula straight to the classroom.  Further, the annual AF&PA Recycling Awards recognize outstanding business, community and school paper recycling programs.

  • Twin Rivers Paper Company Releases Acadia® Lidding

    Packaging News, |

    3/15/2013 12:00:00 AM

    Twin Rivers Paper Company, a leader in lightweight specialty packaging, label and publishing papers, releases Acadia® Lidding, an uncoated, high-finish packaging paper for lidding applications. Acadia Lidding provides the smoothness and blister-resistant characteristics that ensure optimal convertibility for applications such as yogurt and creamer lids.

    “We are committed to developing products that meet the unique needs of our customers. The release of Acadia Lidding reflects our ongoing commitment to the specialty packaging market segment,” says Bruce Wellman, Director of Product Development, R&D and Technical Services.
     
    Twin Rivers offers a comprehensive portfolio of specialty packaging papers that are known for their excellent printability and convertibility, with high performance in secondary processes such as coating, waxing, foil and film laminating, and metallizing. Acadia®, an uncoated machine-finished paper, is available in a basis weight range of 15-75 lbs. and Bladepak® C1S coated paper is available in a basis weight range of 35-73 lbs. All are FDA-compliant, meeting the requirements for direct food contact.

  • Sonoco ThermoSafe Launches Certis® Silver Universal CRT Design-Qualified Shippers

    Packaging News, |

    3/15/2013 12:00:00 AM

    Sonoco ThermoSafe, a unit of Sonoco and the leading global provider of temperature assurance packaging, has launched the new Certis Silver Universal CRT (controlled room temperature) design-qualified shipper series to ensure ambient thermal protection for pharmaceuticals, biologics, vaccines and other high-value products.

    "Increasing global regulations are requiring that the shipments of pharmaceuticals and other high-value biologics must uphold strict temperature control to comply with each product's labeled storage requirements," said Russell Grissett, vice president, Sonoco ThermoSafe. "A regulatory focus on strict compliance to storage temperature limits has increased the demand for controlled room temperature shipping solutions.  The new Certis Silver Universal CRT series has been designed to fulfill this emerging market need," continued Russell.
     
    "Our Certis Silver Universal CRT Shippers are design-qualified to our real-world ISCsilver® ambient profile to ensure absolute thermal protection. These EPS insulated containers utilize PureTemp™ advanced phase change materials that provide a consistent 15- to 25-degree Celsius temperature control for up to four days," mentioned Prakash Mahesh, vice president, Sales and Marketing.
     
    Certis CRT shippers are capable of holding a 14-liter payload for 72-hour duration and an 11-liter payload for 96-hour durations when packed with the same component configuration regardless of the season.

  • Grigiskes to Install New Paper Machine in Lithuania

    Producer News, |

    3/15/2013 12:00:00 AM

    Lithuanian paper producer Grigiskes AB said that it intends to install a paper machine at its mill in Vilnius, Lithuania. This will be the third stage of the company's investment program previously announced in April 2011 by the company's President, Gintautas Pangonis.

    As part of the third stage, Grigiskes and SEB bank AB on Feb. 20 signed a loan agreement for LTL 35 million (EUR 10.1 million).

    In 2012, Grigiskes completed the first stage of the investment program by investing LTL 20.5 million (EUR 5.9 million) to rebuild and put into operation a new corrugated cardboard production line. The second stage included an investment of LTL 12.5 million (EUR 3.6 million) to increase the output of the paper mill with the addition of four new paper processing production lines.

    The loan signed on Feb. 20 will be used to purchase a new paper machine, Grigiskes said.

    The machine installation project will take two years and will involve more than LTL 53 million (EUR 15.3 million), the company said.

    Start-up of the new machine is expected by the end of 2014.

  • Mag Bag: Conde Nast Unveils Video Offerings, Promotes Wintour

    End User News, |

    3/15/2013 12:00:00 AM
    Condé Nast had a busy week, with a veritable raft of new products and staffing news. On Wednesday, Condé Nast revealed that Anna Wintour, the iconic editor in chief of Vogue immortalized in “The Devil Wears Prada,” has been given yet another role with sweeping responsibilities --artistic director for the entire company. Wintour will continue in her previous roles as EIC of Vogue and editorial director of Teen Vogue.
     
    Also this week, Condé Nast Entertainment, the company’s new video division, unveiled its first online video offerings, with new video players for GQ and Glamour. The new players feature original lifestyle and fashion content, which will also be distributed across Web, IPTV, mobile and tablet channels.
     
    Original content on the GQ channel includes The Ten, highlighting must-have items for men, Car Collectors, featuring celebrities and their cars, and Fighting Weight, devoted to fitness. The Glamour video content includes a Fashion Week Ride-Along with Cindi Leive; Elevator Makeovers, with quick beauty tips; and “Why Do Guys,” plumbing the mysteries of the male mind.  The Glamour and GQ branded series are being launched with exclusive sponsorship by Procter & Gamble, Microsoft and Mondelz International.
     
    On the ad tech front, this week Condé Nast joined The New York Times Co.’s Ricochet, a digital platform that allows advertisers to pair their ads with specific pieces of editorial content for sharing via social media, email, and other channels. 
     
    Separately, Macy’s is launching a new fashion line for young women called Teen Vogue through a licensing deal with Condé Nast, which publishes the magazine. According to Women’s Wear Daily (which is also owned by Advance Publications), the fashion line was developed by Macy’s in collaboration with editors from the magazine.
  • FIT by Finch Helps Ricoh InfoPrint® 5000 Family of Platforms Print To G7 Specs

    Producer News, |

    3/15/2013 12:00:00 AM
    Finch Paper’s FIT Color Management & Workflow Services team recently spent three days at Ricoh’s Solutions Center in Boulder, CO assisting their digital output solutions team in achieving consistent, G7 Color on their flagship InfoPrint aqueous continuous form inkjet platforms, the InfoPrint 5000 family.
     
    FIT’s innovative, collaborative work with Original Equipment Manufacturers like Ricoh helps to ensure our print customers’ success as they adapt to new printing technologies.
     
    Integrating G7 gray balance into Ricoh’s aqueous inkjet workflow allows for consistent color output, from machine-to-machine and job-to-job, as well as ensuring color balance on Finch’s various substrates.
     
    Finch Digital Application Manager Mary Schilling, who leads the FIT color team, said “The Ricoh team has designed a user-friendly machine workflow which allows the creation of custom color profiling for its InfoPrint 5000 platforms.”
  • Destination XL Group, Inc. Reports Fourth-Quarter and Fiscal 2012 Financial Results

    End User News, |

    3/15/2013 12:00:00 AM

    Destination XL Group, Inc., the largest multi-channel specialty retailer of big & tall men's apparel and accessories, today reported operating results for the fourth quarter and fiscal year ended February 2, 2013 ("fiscal 2012").

    Highlights
    •Comparable fourth-quarter sales increased 0.5% and total fourth quarter sales increased to $114.9 million compared with $111.1 million in the fourth quarter of fiscal 2011. Full year comparable sales increased 1.5% and 2012 total sales were $399.6 million compared with $395.9 million in 2011.
    •Comparable fourth quarter sales for Destination XL® (DXL®) stores were up 15.0%, while comparable fourth quarter sales for Casual Male XL retail and outlet stores decreased 2.3%.  In the quarter, the DXL stores represented 18.0% of the Company's comparable retail store sales. Comparable fourth quarter sales from the e-commerce platform increased approximately 13.0%.
    •Income from continuing operations, on a diluted basis, for the fourth quarter was $0.09 per share, as compared to $0.71 per share for the fourth quarter of fiscal 2011. Adjusted income from continuing operations for the fourth quarter of fiscal 2011, before the reversal of the Company's valuation allowance and trademark impairment, was $0.08 per share. (See below for non-GAAP reconciliation.)
    •For the full year, income from continuing operations, on a diluted basis, was $0.17 per share compared with $0.93 per share for fiscal 2011. Before the reversal of the Company's valuation allowance and trademark impairment, adjusted income from continuing operations was $0.22 per share in 2011. 
    •Opened 14 Destination XL stores and closed 34 Casual Male XL stores in the fourth quarter of 2012, reaching 48 DXL stores at the end of the year towards its goal to transform its business with 215 to 230 DXL stores by 2016.

  • Report Shows Continued Environmental Improvement in U.S. Book Industry

    Environmental News, |

    3/15/2013 12:00:00 AM

    A new report by the Book Industry Environmental Council (BIEC) and Green Press Initiative indicates that the U.S. book industry has continued to make progress towards reducing the environmental impacts of books including impacts on forests and climate change. Among the most notable findings was that paper producers who supply book papers reported using an average of 24% recycled fiber, almost a fivefold increase from 2004 when they were believed to be using around 5% recycled fiber.

    The report, which is available online at www.bookcouncil.org and www.greenpressinitiative.org is based on surveys issued to U.S. publishers as well as the printers and paper manufacturers in North America who supply them. Surveys of paper manufacturers also indicate that about 16% of book papers produced are certified by the Forest Stewardship Council (FSC) and an additional 40% of book papers are certified by the Sustainable Forestry Initiative (SFI).
     
    The report also finds that 82% book publishers surveyed now have environmental policies compared 59% in 2006. While there has been substantial growth in the number of publishers with environmental policies, only 52% of publishers’ policies include specific targets for increasing the use of recycled fiber, about the same percentage as in 2006 when 54% of publisher policies contained specific recycled fiber targets.
     
    Todd Pollak, Program Manager at Green Press Initiative which coordinates the BIEC says “the data indicate continued focus on environmental initiatives within the book industry and continued improvement across a wide range of environmental metrics. Despite these positive trends there is more work that needs to be done to ensure that books are not impacting some of the Earth’s most critical ecosystems.”
     
    The report also concludes that as a result of the increase in recycled fiber and the decrease in total paper consumption, the book industry has dramatically reduced greenhouse gas emissions in recent years meeting a goal established by the BIEC years ahead of the target date. The BIEC had previously established a target of reducing book industry emissions 20% below a 2006 baseline by the year 2020; however, the report estimates that climate changing emissions were reduced by at least 25% between 2006 and 2010.

  • AAA Fuel Gage & Exchange Rates

    Miscellaneous News, |

    3/15/2013 12:00:00 AM

    AAA Fuel Gage 3/15/13
    National Unleaded Regular:
    Current Average - $3.695/gallon
    Month Ago Average - $3.618/gallon
    Year Ago Average - $3.821/gallon
    Highest Recorded Average - $4.114/gallon on 7/17/08
    Diesel:
    Current Average - $4.072/gallon
    Month Ago Average - $4.075/gallon
    Year Ago Average - $4.122/gallon
    Highest Recorded Average - $4.845/gallon on 7/17/08

    Current Exchange Rates as of 3/15/13
    American Dollar to Canadian Dollar = 0.979627
    American Dollar to Chinese Yuan = 0.160800
    American Dollar to Euro = 1.306531
    American Dollar to Japanese Yen = 0.010402
    American Dollar to Mexican Peso = 0.080562

  • WTI Oil Rises a Second Day; Brent Premium Set for Weekly Decline

    Miscellaneous News, |

    3/15/2013 12:00:00 AM

    West Texas Intermediate oil rose for a second day, heading for a second weekly advance. Brent crude’s premium to the U.S. benchmark grade is poised for the biggest weekly drop in 11 months.

    WTI futures climbed as much as 0.4 percent in New York after gaining 0.6 percent yesterday, the most in a week. OPEC will increase daily crude exports by 300,000 barrels to 23.75 million in the four weeks to March 30 as refineries in Europe and the U.S. resume after maintenance and boost demand, according to Oil Movements, a tanker tracker. Brent oil is headed for a weekly decline.

    “In the U.S., we’re exiting the refinery turnaround period and heading into the summer demand season,” said Anthony Nunan, a senior adviser for risk management at Mitsubishi Corp. (8058) in Tokyo. “With the glut in the U.S. Midcontinent being gradually relieved because of pipeline capacity build out, it looks like WTI is going to stabilize and maybe come up. WTI is much more constructive, whereas Brent really looks like it’s on a downtrend.”

    West Texas oil for April delivery rose as much as 34 cents to $93.37 a barrel in electronic trading on the New York Mercantile Exchange and was at $93.25 at 3:17 p.m. Singapore time.

  • Plastic film recycling rises to 1 billion lb annually

    Environmental News, |

    3/14/2013 12:00:00 AM

    The recycling of plastic film climbed 4% to reach 1 billion pounds annually in 2011 for the first time, according to the recently released “2011 National Postconsumer Plastic Bag & Film Recycling Report.” The category of “plastic film” includes plastic bags, product wraps, and commercial shrink film. The report, developed by Moore Recycling Associates, Inc. on behalf of the American Chemistry Council (ACC), noted that the recycling of plastic film has grown 55% since just 2005.

    According to the report, approximately 58% of U.S.-recovered postconsumer film was consumed domestically in 2011—up from 53% in 2010—largely due to growth in the plastic and composite lumber industry, the primary market for this material. The composite lumber industry showed a 120 million-pound increase in consumption from 2010 to 2011 to reach 55% of the total market for recovered film. Consumption of postconsumer plastic film by the film and sheet industry, the second largest market for this material, held steady at 100 million pounds, or 16% of the total market.

    Recycled polyethylene film is used to make a range of products, including durable plastic and composite lumber for outdoor decks and fencing, home building products, garden products, crates, pipe, and new film packaging like plastic bags.

  • Mercer Intarnational Inc. Reports Record 2012 Results

    Producer News, |

    3/14/2013 12:00:00 AM

    Mercer International Inc. today reported results for the fourth quarter and for the year ended December 31, 2012.

    Total revenues for 2012 decreased to €834.1 million ($1,072.7 million) from €899.5 million ($1,252.0 million) in 2011. Pulp revenues for 2012 decreased by approximately 8% to €761.9 million from €831.4 million in 2011, primarily due to lower average pulp sales realizations, partially offset by higher pulp sales volumes and a stronger U.S. dollar relative to the Euro.

    Energy and chemical revenues increased by approximately 6% in 2012 to an annual record of €72.3 million from €68.1 million in 2011, primarily as a result of record pulp production.

    Pulp sales volumes increased by approximately 3% to a record 1,473,519 ADMTs in 2012 from 1,427,924 ADMTs in 2011, primarily as a result of increased sales to China. Average pulp sales realizations decreased by 11% to €511 per ADMT in 2012, compared to €574 per ADMT in 2011, primarily due to lower pulp prices, only partially offset by a stronger U.S. dollar relative to the Euro.

    Costs and expenses in 2012 marginally decreased to €785.1 million, compared to €788.4 million in 2011, primarily due to lower costs for fiber, partially offset by higher pulp sales volumes.

  • Mayr-Melnhoff Karton Annual Result 2012

    Packaging News, |

    3/14/2013 12:00:00 AM

    In 2012 the Mayr-Melnhof Group was able to continue its successful performance of previous years with a further increase in the profit for the year. Both divisions, MM Karton and MM Packaging, made a substantial contribution to this. By focusing on the highly efficient production of consumer goods, we have been able to maintain long-term profitability in a period of continuing economic slowdown and despite non-recurring expenses related to the closure of a plant. Although customers have been planning with increasing caution, we have ensured that the capacity utilization for our plant and equipment remained at a high level by being very flexible. Focusing on the future, we have invested in projects for the reduction of direct costs and further growth. The strategic expansion into future growth markets outside of Europe was taken into account with an acquisition in Colombia, where we are now the market leader. In Europe we succeeded in securing our leading position and selectively expanding our market share. Due to the positive results, it is intended to increase the dividend per share from EUR 2.10 to EUR 2.25.

    At EUR 1,952.2 million the Group’s consolidated sales almost reached the previous year's record level (2011: EUR 1,959.6 million).

    Operating profit was at EUR 166.1 million, by 2.8 % or EUR 4.8 million lower than in the previous year (2011: EUR 170.9 million), whereby non-recurring expenses in the net amount of around EUR 9.0 million related to the closure of the packaging plant in Liverpool, England, had to be accounted for. However, at 8.5 % the Group’s operating margin almost reached the previous year's level (2011: 8.7 %). The Return on Capital Employed amounted to 17.1 % (2011: 18.6 %).

  • Are Higher Postal Rates in Your Future?

    End User News, |

    3/14/2013 12:00:00 AM
    Marketers should not be surprised at being hit with sharp increases in postal rates if Congress, postal unions, and regulators cannot agree on a self-sustaining survival plan for the U.S. Postal Service (USPS). The heads-up was delivered to Direct Marketing Association (DMA) members yesterday by Postal Regulatory Commission general counsel Steven Sharfman.
     
    “It could be coming within the next 12 to 18 months,” Sharfman warned. “It's just that no one talks about it.”
     
    The USPS finds itself in troubled waters, attempting to cut costs and right itself in the middle of a government breakdown. “It is  losing a great deal of money, and most of the fat is cut,” Sharfman told attendees at the DMA in DC conference in Washington DC. “There's little desire to spend money on Capitol Hill, so if they need to bail out the Postal Service, it's possible mailers will be asked to pay more money.”
     
    The USPS last year closed several processing centers and post offices and curtailed hours at rural post offices, carving $500 million to $600 million from its budget. Future cuts, however, could be in a holding pattern. Postmaster General Patrick Donahoe wants to continue shuttering facilities, but the USPS's original directive from the PRC was to wait a year to evaluate the effect of the first round of closures before making more. And with a possible government shutdown looming, it's possible that Donahoe's plan to eliminate Saturday mail delivery could be temporarily shelved.
  • WTI Oil Heads for Two-Week High; Brent Spread at Seven-Week Low

    Miscellaneous News, |

    3/14/2013 12:00:00 AM

    West Texas Intermediate rose, heading for the highest settlement in two weeks and shrinking Brent crude’s premium to the U.S. benchmark grade to the narrowest in almost two months.

    WTI futures climbed as much as 0.5 percent in New York, while Brent was little changed in London. The differential between the two grades shrank after an Energy Department report yesterday showed supplies at Cushing, Oklahoma, the delivery point for Nymex futures, fell the most since May 2011. Total U.S. crude stockpiles climbed to the highest for the time of year in records dating back to 1982.

    “We have a repeat of yesterday where we are starting the session bouncing from a relatively low level,” Ole Hansen, the head of commodity strategy at Saxo Bank A/S, said today by telephone from Copenhagen. “This morning we are having a little bit of a bounce, but lots of the focus is on the spread between the two crude varieties which has come down to $16.”

    WTI for April delivery rose as much as 50 cents to $93.02 a barrel in electronic trading on the New York Mercantile Exchange and was at $92.73 at 9:33 a.m. London time. The volume of all futures traded was little changed from the 100-day average. The contract lost 2 cents yesterday after climbing to $92.54 on March 12, the highest settlement since Feb. 27.

  • McClatchy to Acquire Media Analytics Firm Tru Measure

    End User News, |

    3/14/2013 12:00:00 AM

    The McClatchy Company announced today that it has signed an agreement to acquire Tru Measure, a media measurement and analytics firm based in Crested Butte, Colorado. McClatchy expects to complete the acquisition by the end of the month. Financial terms were not disclosed.

    Founded in 2009, Tru Measure provides media companies and their advertising customers with tools and technology to better measure and track the effectiveness of digital advertising campaigns and consumer engagement.

    Tru Measure has partnered with McClatchy since 2010. Its products are a key component of McClatchy’s recent impressLOCALTM initiative, which provides small and medium-sized advertisers with the digital tools and support necessary to successfully market their businesses online. impressLOCALTM debuted at McClatchy newspapers in Kansas City and Fort Worth in 2012 and is being rolled out to several additional McClatchy markets in 2013.

  • UPM wins Sustainable Biofuels Award in Rotterdam

    Producer News, |

    3/14/2013 12:00:00 AM

    UPM has received the Sustainability Award 2013 for Breakthrough Innovation in Technology in Rotterdam, the Netherlands. The award which recognises the innovation that is taking place in the development of truly sustainable and renewable fuels is presented by the World Biofuels Markets Congress & Exhibition. 

    UPM Biofuels received the Sustainable Biofuels Award due to its success in developing an innovative production process for an advanced renewable diesel, UPM BioVerno.  So even before it goes live, UPM’s renewable diesel production process has won a major international prize.

    The award was judged by an elite panel of independent industry experts. According to reasoning, UPM was the winner of the Breakthrough Innovation in Technology Award because of the UPM BioVerno product characteristics corresponding to traditional fuel with the greenhouse gas emissions being reduced by up to 80%.

  • International Paper Raises Carolina C1S Blanks Pricing

    Producer News, |

    3/14/2013 12:00:00 AM
    Effective with shipments on or after March 28, 2013, we are increasing program pricing for Carolina® C1S Blanks 14pt – 28pt by $2.50/cwt.
  • Coldwater Creek Announces Fourth Quarter and Fiscal Year 2012 Results

    End User News, |

    3/14/2013 12:00:00 AM

    Coldwater Creek Inc. today reported financial results for the quarter and fiscal year ended February 2, 2013.

    Fourth Quarter of Fiscal 2012 Operating Results
    • Consolidated net sales were $220.8 million, compared with $224.4 million in fourth quarter 2011, which included net sales of $11.8 million as a result of a favorable cumulative one-time adjustment for gift card breakage income. Net sales from the retail segment were $166.0 million, compared with $173.5 million in the same period last year. Comparable premium retail store sales increased 2.7 percent. Net sales decreased due to store closures as a result of our store optimization program and the impact of $10.7 million in net sales from the cumulative one-time gift card breakage recorded in the fourth quarter 2011. Net sales from the direct segment were $54.7 million compared with $50.8 million in the same period last year, which included $1.1 million from the cumulative one-time adjustment for gift card breakage.
    • Consolidated gross profit was $64.1 million, or 29.1 percent of net sales, compared with $73.1 million, or 32.6 percent of net sales, for fourth quarter 2011. The 350 basis point decline in gross profit margin was primarily due to the 370 basis point benefit in the fourth quarter of fiscal 2011 resulting from the cumulative one-time adjustment for gift card breakage. Adjusting for this benefit, gross margin increased 20 basis points driven by leverage of buying and occupancy costs offset by lower merchandise margins.

    Full Year Fiscal 2012 Operating Results
    • Consolidated net sales for fiscal 2012 were $742.5 million, compared with $773.0 million in fiscal 2011. Net sales from the retail segment were $574.4 million, compared with $595.2 million last fiscal year. Comparable premium retail store sales increased 0.8 percent. Net sales from the direct segment were $168.0 million, compared with $177.8 million last fiscal year.
    • Consolidated gross profit increased $3.8 million to $233.1 million, or 31.4 percent of net sales, compared with $229.3 million, or 29.7 percent of net sales, for fiscal 2011. The 170 basis point increase in gross profit margin was primarily due to increased leverage of buying and occupancy costs and higher merchandise margins reflecting improved product performance. Last year's gross margin included a 110 basis point benefit in the fourth quarter of fiscal 2011 from the cumulative one-time adjustment for gift card breakage income.

  • Fortress Paper Agrees to Sell Dresden Mill

    Producer News, |

    3/14/2013 12:00:00 AM

    Fortress Paper Ltd. is pleased to announce that it and its wholly owned subsidiary, Fortress Security Papers AG, have entered into a share purchase agreement with Glatfelter Gernsbach GmbH & Co. KG and its parent, P.H. Glatfelter Co., pursuant to which FSP has agreed to sell all of the shares of its wholly owned subsidiary, Dresden Papier GmbH ("Dresden"), to Glatfelter Gernsbach for an aggregate purchase price of €160,000,000 (CDN$213 million), subject to working capital adjustment. The transaction is expected to close within the second quarter of 2013, but no later than June 30, 2013, and is subject to certain customary conditions, including governmental anti-trust approvals in Germany and the Ukraine.

    Pursuant to the terms of the Share Purchase Agreement, the Company has agreed to guarantee the obligations of FSP and Glatfelter has agreed to guarantee the obligations of Glatfelter Gernsbach thereunder.

    Dresden owns and operates the Company's Dresden Mill, a producer of non-woven wallpaper base paper operating in Germany.

  • MWV’s Avive Wins Compliance Package of the Year Award

    Packaging News, |

    3/14/2013 12:00:00 AM

    MeadWestvaco Corporation, a global leader in packaging and packaging solutions, today announced that its Avive® multiple-medication patient adherence solution received the Compliance Package of the Year award from the Healthcare Compliance Packaging Council (HCPC). Patient adherence to prescribed medication regimens is a global challenge, and research shows that approximately half of all patients across the globe do not take their medicines as directed.

    Avive is a patient-customized solution that simplifies daily dosing for customers on multiple medications. It was developed with input from patients and pharmacists. This ready-to-dispense, script-filling pharmacy service is designed to increase medication adherence, provide convenience for patients and allow more time for pharmacist-customer counseling. An HCPC awards judge noted that Avive “truly brings us to a personalized medication approach.”

    The development of Avive is an output of MWV’s long-standing commitment to further awareness of the challenges of medication non-adherence, to understand the underlying causes and to provide solutions to help patients effectively follow their regimens. Studies indicate that medication packaging can play a unique and effective role in patient adherence, reinforcing important information about how to take medications correctly on each and every use. Additional research shows that script synchronization and regimen customization, part of the Avive system, also positively impact patient adherence.

  • Glatfelter announces global 6% price increase for carbonless sheets

    Producer News, |

    3/14/2013 12:00:00 AM
    P.H. Glatfelter Co. has announced a 6% price increase for its carbonless sheets grades sold in all of its global markets.
     
    The increase is effective with shipments on or after April 1.
     
    The affected grades are Excel One carbonless for digital and offset, Xcelerator PLUS digital carbonless, Sequel 30 recycled carbonless, Optica self-contained carbonless, and Fan-Apart adhesive.
  • Appleton announces 6% carbonless sheets price increase for U.S. and Canada

    Producer News, |

    3/14/2013 12:00:00 AM
    Appleton Papers Inc. has announced a 6% price increase for its carbonless sheets sold in the U.S. and Canada, effective with shipments on April 1.
     
    In its notice to customers, Appleton said it will increase prices of NCR PAPER brand products, including all carbonless sheet grades, non-paper products, 8PT coated one-side (C1S) Fluorescents (excluding 18” x 12” digital size), and 10PT C1S Fluorescents.
  • Transcontinental Inc. increases its revenues and profitability in the first quarter

    Printer News, |

    3/13/2013 12:00:00 AM

    Revenues for Transcontinental Inc. were up 8.4% in the first quarter, from $487.6 million to $528.7 million, mainly due to the acquisition of Quad/Graphics Canada, Inc. and Redux Media and the Métro Montréal daily paper in the Media Sector. This increase was, however, partly offset by the termination of the Zellers flyer printing and distribution contract due to the closure of the Zellers stores, and the incentives granted upon the renewal of some contracts in 2012.

    Adjusted operating income rose 6.3% in the first quarter, from $43.0 million to $45.7 million. The increase stems mainly from the synergies obtained from the acquisition of Quad/Graphics Canada, Inc. and the optimization of the operating structure in digital activities. However, the increase was mitigated by the reasons mentioned above. Net income applicable to participating shares rose, from a loss of $33.3 million, or $0.41 per share, to a profit of $17.8 million, or $0.23 per share. Note that last year the loss of $0.41 per share was mainly related to unusual items charged to income in the first quarter of 2012. Excluding unusual items, the adjusted net income applicable to participating shares rose 5.2%, from $27.1 million, or $0.33 per share, to $28.5 million, or $0.37 per share.

  • TC Transcontinental releases its 4th annual Sustainability Report

    Printer News, |

    3/13/2013 12:00:00 AM

    TC Transcontinental today announced the release of the fourth edition of its Sustainability Report entitled “simplify, collaborate, innovate”. The report details the commitments, approach and themes related to corporate governance and environmental, social and economic performance under the Corporation’s 2010-2013 three-year plan. The information provided in the report, with respect to stakeholder concerns and corporate issues, has enabled it to maintain its Application Level B rating from the Global Reporting Initiative (GRI).

    This year, in the area of environment, the Corporation expanded the internal and external scope of its paper purchasing policy by specifying the use of recycled or certified papers for its printing and publishing operations. In fact, the Corporation’s purchases of ecopapers (Gold and Gold Plus) have increased to 67%, exceeding its target of 55%. In terms of social engagement, the Corporation has formalized its donation policy by identifying two priority areas: education and health. As well, it has further improved its lost-time accident severity and frequency rates, which continue to be much lower than the industry average. From an economic standpoint, the Corporation has continued to maintain a strong balance sheet and increase its return on net assets, which currently stands at 8.8%. Lastly, in terms of corporate governance, the Corporation continues to work steadily to increase the number of women in senior management positions through its talent development and succession plan. As at October 31, 2012, women made up 17% of senior management.

  • AEP Industries Inc. Reports Fiscal 2013 First Quarter Results

    Packaging News, |

    3/13/2013 12:00:00 AM

    AEP Industries Inc. today reported financial results for its first quarter ended January 31, 2013.

    Net sales for the first quarter of fiscal 2013 decreased $0.5 million, or 0.2%, to $267.1 million from $267.6 million for the first quarter of fiscal 2012. The decrease was the result of a decrease in sales volume of 0.8% partially offset by a 0.4% increase in average selling prices and improved sales mix.

    Gross profit for the first quarter of fiscal 2013 was $42.4 million, an increase of $7.8 million, or 22%, compared to the comparable period in the prior fiscal year.  Excluding the impact of the LIFO reserve change of $6.4 million during the periods, gross profit increased $1.4 million primarily due to improvements in material margins, plant utilization and sales mix. 

  • Bonnier Corp. Folds 'Garden Design'

    End User News, |

    3/13/2013 12:00:00 AM
    Garden Design, the upscale bimonthly home/garden/lifestyle magazine that launched with fanfare in April 1994, shut down quietly on March 13. A statement from owner (since 2006) Bonnier Corp. blamed "the economic climate, compounded by the significant industry transition to digital, [that] limited the growth in advertising needed to make [GD] viable for our future."
     
    GD was the brainchild of Chris Meigher, the former Time Inc. executive whose credits included the 1990 launch of then-Time Inc.-partnered Martha Stewart Living. (Martha Stewart Living Omnimedia did not form until 1997.) This first Meigher Communications brand was introduced at the New York Flower and Garden Show in Rockefeller Center, and investors were said to have included 1989-1992 Time Warner co-CEO Nick Nicholas. In 1995, Meigher and editorial director Dorothy Kalins launched the epicurean Saveur (which continues), and the future seemed bright.
     
    But Meigher's financial problems in 2000 led to his selling both magazines to Orlando-based World Publications founder (1984) founder Terry Snow for a bargain-basement $7 million that August. When Snow sold World to Bonnier Corp. for an estimated $100 million in May 2006, the two were part of the package.
  • Politico Plans Print Magazine Launch as It Passes 1,000 Pro Subscriber Mark

    End User News, |

    3/13/2013 12:00:00 AM

    Politico, the politics and policy journalism site, says it has broken the 1,000 subscription mark to its Pro news service. Like other content-based sites, Politico has supplemented its revenues through paid subscription service that includes original content, but in this case offers robust personalization features to add value for subscribers.

    The subscriptions are generally sold on an enterprise level, and Politico says about 7,000 individuals are subscribed to the two-year-old service through their organizations. The renewal rate is at 96 percent, says the company.

    "We launched it because it was crystal clear for us that there was an appetite for reporting on these policy areas," says Politico executive editor Jim VandeHei. "To us, it was a pretty simple formula—hire the right reporters, have the technology and go in heavy."

    VendeHei describes the Pro service as an early morning news feed, scoop machine, tipsheet, conventional reporting vehicle and, importantly, a highly personalized experience.

  • WTI Oil Trades Near Two-Week High as Crude Supplies Fall

    Miscellaneous News, |

    3/13/2013 12:00:00 AM

    West Texas Intermediate traded near the highest level in two weeks after an industry report showed U.S. crude stockpiles fell for the first time since February. The IEA trimmed its 2013 global oil demand forecast.

    Futures advanced a fifth day, the longest run of gains since December. Crude inventories shrank by 1.38 million barrels last week, the American Petroleum Institute said. An Energy Department report today may show supplies rose by 2.3 million, according to a Bloomberg News survey. The International Energy Agency curbed demand estimates for this year by 60,000 barrels a day to 90.6 million.

    “The market is pretty well balanced,” said Ole Hansen, the head of commodity strategy at Saxo Bank A/S in Copenhagen. “We are still in the process of just establishing a range.”

    WTI for April delivery was at $92.95 a barrel, up 41 cents, in electronic trading on the New York Mercantile Exchange as of 9:27 a.m. London time. The volume of all futures traded was 24 percent above the 100-day average. The contract rose 48 cents to $92.54 yesterday, the highest close since Feb. 27.

  • Non-Profit Initiates Next Stage of its Mission to Stop Greenwashing

    Environmental News, |

    3/13/2013 12:00:00 AM

    Two Sides today announced the next stage of its nationwide initiative to urge major U.S. banks, utilities and telecommunication companies to end the use of misleading marketing claims about the sustainability of print and paper.   Phase Two will include a second round of communication intended to initiate productive discussion with senior management in the target industries, reminding them of their responsibility to adhere to best practices for environmental marketing as outlined in the U.S. Federal Trade Commission’s recently revised Green Guides.

    Last year, Two Sides contacted senior bank, utility and telecom executives, encouraging them to follow the yet-to-be-released FTC Green Guides, which say that environmental marketing claims should not exaggerate environmental impacts and must be substantiated.   While some responded positively, many of the nation’s top banks, utilities and telecoms continue to tell their customers that switching to online billing and communication is better for the environment than print and paper with no verifiable or credible supporting evidence.  With the release of the updated Green Guides in October 2012, the FTC made it official that that unqualified environmental language would be viewed as deceptive marketing, strengthening the Two Sides call for change.

    “Two Sides has no desire to cause unnecessary negative publicity for these companies or to undermine their cost-saving and efficiency reasons for driving customers towards e-billing, but claims that print and paper are environmentally unfriendly need to stop,” says Two Sides President Phil Riebel.  “Rather than call these respected companies out publicly with greenwashing complaints, we’d much prefer to amicably work with them behind the scenes to help develop messaging that meets the Green Guides standards for environmental marketing,” he says. “However, we’re prepared to use the strongest means necessary to put an end to the use of unsupported environmental claims that are potentially damaging to the paper, printing and mailing sectors which support millions of U.S. jobs.”   

  • Domtar inaugurates commercial lignin production

    Producer News, |

    3/13/2013 12:00:00 AM

    Domtar Corporation today announced that it has successfully installed a commercial-scale lignin separation plant at its Plymouth, North Carolina mill, the first U.S. facility of its type in over 25 years.  The production of BioChoiceTM lignin began in February, with a targeted rate of 75 tons a day, destined for a wide range of industrial applications as a bio-based alternative to the use of petroleum and other fossil fuels.

    The successful installation of commercial-scale lignin removal capacity at the Plymouth Mill is the culmination of a research and engineering project launched by Domtar in 2010.  This project was further boosted when the U.S. Department of Agriculture and the U.S. Department of Energy awarded the company a grant through the Biomass Research and Development Initiative. Domtar's lignin operation sets a new path for the industry and also marks the latest sustainability milestone for a company that has long been recognized as an industry leader in forest certification and environmental stewardship.

    "Our vision is to be a global leader in fiber-based innovation," said Bruno Marcoccia, Domtar's director of research and development. "A big part of this is our focus on partnering with best-in class collaborators to develop new products and markets for a wide portfolio of initiatives, like BioChoice."

    "The possibilities for making a real difference in terms of offering manufacturers a bio-based alternative to the use of petro-chemicals is truly exciting," said Hasan Jameel, a professor in North Carolina State University's Department of Forest Biomaterials. "This is a big win for sustainability on two counts - Domtar improves the efficiency of its pulp-making process, and at the same time the market gets a reliable, high-quality source of this underused material with so much potential."

  • Resolute Announces Indefinite Idling of Paper Machine at its Calhoun Mill

    Producer News, |

    3/13/2013 12:00:00 AM

    Resolute Forest Products Inc. announced today the indefinite idling of a newsprint machine at its Calhoun mill in Tennessee. The idling comes as a result of a decrease in demand for newsprint, coupled with high operating costs for the machine, which produced 215,000 metric tons per year. The decision follows Resolute's March 11 acquisition of the 49% interest in Calhoun Newsprint Company ("CNC") owned by The Herald Publishing Company, LLC, its joint-venture partner.

    The Calhoun mill, which presently employs 610 workers, will continue to operate the two specialty paper machines and the pulp dryer. The announcement will affect approximately 150 positions at the mill.

    The Company recognizes the impacts this decision will have on the employees concerned and their families. Severance will be provided to affected employees according to the local labor agreement or the corporate policy for salaried employees.  Outplacement assistance will be made available through government agencies.

  • John Wiley & Sons, Inc., Reports Third Quarter Fiscal Year 2013 Results

    End User News, |

    3/12/2013 12:00:00 AM
    John Wiley & Sons, Inc., a global provider of knowledge and knowledge-based services in areas of scientific, technical, medical, and scholarly research (STMS); professional development (PD); and education today announced results for the third quarter of fiscal year 2013:
     
    Adjusted:
    Revenue grew 6% to $461 million excluding divested consumer publishing programs and including acquisitions. Revenue grew 1% excluding both the divested and acquired assets.  Digital revenue growth in Professional Development and Global Education was offset by continued softness in print books and lower STMS journal revenue, as expected
    Adjusted revenue change by segment, excluding FX and divested consumer publishing revenue:  STMS -3%, PD +14%, and Education +18%
    Adjusted EPS grew 6% to $0.93 per share excluding FX.  Adjusted EPS excludes the divested consumer publishing programs (-$0.02 per share) and certain other items described in the attached schedule. Acquired businesses were accretive to results by $0.01 per share
  • Sixty-Six Titles Join Wiley’s Journal Portfolio in 2013

    End User News, |

    3/12/2013 12:00:00 AM
    Sixty-six journals will join John Wiley & Sons, Inc., a global provider of content-enabled solutions in areas of scientific, technical, medical, and scholarly research; professional development; and education, in 2013. The titles include 52 journals moving to Wiley from other publishers or self-publication, and 14 new titles, of which eight are open access. The titles joining Wiley represent relationships with over 30 societies and associations.
     
    Included in the 52 titles moving to Wiley are 17 journals from the American Geophysical Union, including Journal of Geophysical Research, Water Resources Research and Reviews of Geophysics. This year also sees several other partnerships such as with the American College of Clinical Pharmacology on their titles Clinical Pharmacology in Drug Development and The Journal of Clinical Pharmacology; with the Society for the Experimental Analysis of Behavior to publish Journal of Applied Behavior Analysis and Journal of the Experimental Analysis of Behavior; with the Obesity Society to publish Obesity; and with the British Educational Research Association to publish the British Educational Research Journal as well as to launch a new title, Review of Education.
     
    2013 sees the launch of a new title in the Advanced Materials family, Advanced Optical Materials, and Stat, an online-only, rapid communication research journal in partnership with the International Statistical Institute. Wiley also acquired six well-respected newsletters for nonprofits from Stevenson, Inc., including The Major Gifts Report, The Volunteer Management Report and Successful Fundraising.
  • The Bon-Ton Stores, Inc. Announces Fourth Quarter and Fiscal 2012 Results

    End User News, |

    3/12/2013 12:00:00 AM

    The Bon-Ton Stores, Inc. today reported operating results for the fourth quarter and fiscal 2012 ended February 2, 2013. Results for the fourth quarter and fiscal 2012 are impacted by the inclusion of an additional week in each period, resulting in a 14-week and 53-week reporting period, respectively, in accordance with the National Retail Federation fiscal reporting calendar. This compares with a reporting period of 13 weeks and 52 weeks in the fourth quarter and fiscal 2011, ended January 28, 2012, respectively.

    For the fourth quarter of fiscal 2012, total sales in the 14 weeks ended February 2, 2013 increased 3.2% to $1,015.1 million, compared with $983.2 million in the 13-week period last year. Comparable store sales in the 13 weeks ended January 26, 2013 increased 1.0%, compared with the 13-week period last year.

    Fiscal 2012 total sales for the 53 weeks ended February 2, 2013 increased 1.2% to $2,919.4 million, compared with $2,884.7 million in the 52-week period last year. Comparable store sales in the 52 weeks ended January 26, 2013 increased 0.5%, compared with the 52-week period last year.

  • TC Media launches new magazine in collaboration with Véronique Cloutier

    End User News, |

    3/12/2013 12:00:00 AM

    TC Media is once again breaking new ground by partnering with the talented Véronique Cloutier to launch a new women’s magazine called VÉRO. This quarterly magazine will be on newsstands throughout Quebec starting next fall, and will target passionate, active women who want to feel good about themselves, who treasure time with their families and have a zest for life.

    Like the woman who inspired it, the new magazine will have a vivacious, energetic style. The look will be sophisticated yet accessible, with a lively and relevant tone. Embodying the values and principles that Véronique Cloutier lives by, the magazine will take a generous and intimate look at the world women are living in today. It will touch on the pleasures of life, entertaining, sharing, helping.

    “VÉRO magazine is a natural fit for us and will enrich our portfolio of publications for women by showcasing the unique personality and values of Véro, one of the most respected and admired women in Quebec,” said Lise Paul-Hus, Group Publisher and VP, Consumer Solutions Montreal for TC Media. “We are very pleased to launch this magazine, which is sure to become staple reading for the women of Quebec, an opportunity to share special and intimate moments with Véro, and another way for her to engage with her audience. We greatly appreciate Véro’s confidence in this project.”

  • Forest Products CEOs Foresee Long-term Revenue Growth

    Producer News, |

    3/12/2013 12:00:00 AM

    Forest, paper & packaging (FPP) CEOs are less confident about revenue growth over the next 12 months than their peers in other sectors, but are more optimistic about their company's revenue prospects in the next three years, according to PwC's 16th Annual Global CEO Survey released recently in Davos, Switzerland .

    "The CEOs of forest, paper and packaging companies are a resilient bunch. Recently they've faced challenges such as shifting demand and markets, a bumpy economy, overcapacity, environmental issues and rising costs," said Bruce McIntyre, Leader of PwC's Forest, Paper and Packing practice in Canada . "CEOs have identified their top three priorities: enhancing operational effectiveness; investing in innovation and R&D; and developing new business models."

    McIntyre says, "FPP CEOs are intensely focused on trimming any fat from operations." The survey found 92% of sector CEOs have implemented a cost-reduction initiative in the past 12 months, and 89% are planning to in the coming 12 months. This result is higher than the overall average of 70% of CEOs across all sectors in the PwC survey. Some of the cost reduction reported was through staff cuts, which are expected to continue, with 18% of FPP CEOs reporting plans to cut their workforce by more than 8% this year.

    R&D and innovation is a top priority for 42% of FPP CEOs in the next 12 months — a full 10% higher than the overall average across the entire CEO Survey. Almost three-quarters of the FPP CEOs said they will make changes to increase capacity for innovation and R&D.

  • Houghton Mifflin Harcourt Trade Publishing Signs International Sales Agreement with Hachette

    End User News, |

    3/12/2013 12:00:00 AM

    Houghton Mifflin Harcourt (HMH) Trade Publishing today announced a new partnership with Hachette Book Group (HBG) in key international markets including Latin America, South America, Asia and Europe. Hachette Book Group will be responsible for sales, billing, returns, credit processing and collections services for HMH general interest titles and books for young readers. HMH will handle order fulfillment.

    “This new international distribution partnership between HMH and Hachette will provide many expanded opportunities for our books and authors. We look forward to providing continued excellent service and an enhanced marketing and sales profile for both existing customers and many first time customers,” says Laurie Brown, HMH SVP Sales & Marketing.

    “The international markets have consistently been an area for growth at Hachette, and we’re thrilled to be now able to represent the fantastic Houghton Mifflin Harcourt list, starting this fall,” said Todd McGarity, VP Distribution Sales and Services at Hachette Book Group.

  • Fortress Paper Announces Fourth Quarter 2012 Results

    Producer News, |

    3/12/2013 12:00:00 AM

    Fortress Paper Ltd. reported 2012 fourth quarter EBITDA of $0.5 million, an improvement of $6.9 million compared to the third quarter of 2012. Excluding corporate costs, the three business segments’ combined EBITDA was $1.1 million in the three months ended December 31, 2012. The Specialty Papers Segment contributed $9.3 million EBITDA, while the Dissolving Pulp Segment and the Security Paper Products Segment generated EBITDA losses of $3.5 million and $4.7 million, respectively. Corporate costs contributed to EBITDA loss in the amount of $0.6 million.

    Fortress reported an adjusted net loss of $5.2 million, or diluted adjusted loss per share of $0.36 for the fourth quarter of 2012 on sales of $96.1 million. In the third quarter of 2012, the Company reported an adjusted net loss of $18.1 million or diluted adjusted loss per share of $1.26 on sales of $73.0 million and for the fourth quarter of 2011 adjusted net loss of $6.3 million or diluted loss per share of $0.44 on sales of $49.5 million.

  • Costco Wholesale Corporation Reports Second Quarter and Year-to-Date Operating Results for Fiscal Year 2013

    End User News, |

    3/12/2013 12:00:00 AM

    Costco Wholesale Corporation announced today its operating results for the second quarter (twelve weeks) and first half (24 weeks) of fiscal 2013, ended February 17, 2013. Net sales for the quarter increased eight percent, to $24.34 billion, from $22.51 billion last year. Net sales for the first half increased nine percent, to $47.55 billion, from $43.69 billion last year.

    Net income for the quarter was $547 million, or $1.24 per diluted share, compared to $394 million, or $.90 per diluted share, last year. Net income was positively impacted by a $62 million ($0.14 per diluted share) tax benefit in connection with the portion of the special cash dividend paid by the Company in December 2012 to the Company 401(k) plan participants. Net income for the first half was $963 million, or $2.19 per diluted share, compared to $714 million, or $1.62 per diluted share, last year.

    Costco currently operates 622 warehouses, including 448 in the United States and Puerto Rico, 85 in Canada, 32 in Mexico, 23 in the United Kingdom, 13 in Japan, nine in Taiwan, nine in Korea and three in Australia. The Company plans to open up to an additional fourteen new warehouses prior to the end of its fiscal year on September 1, 2013.

  • WTI Falls From Two-Week High as Stockpiles Seen Climbing

    Miscellaneous News, |

    3/12/2013 12:00:00 AM

    West Texas Intermediate oil fell from the highest price in almost two weeks before a report that may show U.S. crude stockpiles rose to an eight-month high. Refining in China dropped to the lowest level in four months.

    Futures slid as much as 0.5 percent in New York. U.S. crude inventories probably climbed an eighth week in the seven days through March 8, the longest run of gains since May, a Bloomberg News survey showed before Energy Department data tomorrow. China cut oil-processing by 2 percent last month, government data showed today. South Korean officials said refineries importing North Sea crude will receive smaller rebates for exports of products.

    “The market is very amply supplied as we approach the low season for refining, and that’s going to be reflected in growing global inventories,” said Andy Sommer, a senior oil analyst at Axpo Trading AG in Dietikon, Switzerland. “There’s probably another $4 to $5 of downside left for the oil price.”

    WTI for April delivery declined as much as 46 cents to $91.60 a barrel in electronic trading on the New York Mercantile Exchange and was at $91.74 at 10:15 a.m. London time. The volume of all futures traded was 1 percent above the 100-day average. The contract rose 11 cents yesterday to $92.06, the highest close since Feb. 27. Prices are down 0.1 percent this year.

    Brent for April settlement was down 37 cents, or 0.3 percent, at $109.85 a barrel on the London-based ICE Futures Europe exchange.

  • Kantar Media reports U.S. ad spending up 3% last year

    End User News, |

    3/12/2013 12:00:00 AM

    Total ad spending in the U.S. reached $140.0 billion last year, up 3% over 2011, according to Kantar Media. Kantar tracks ad spending for measured media including TV, radio, magazines, newspapers, online (display ads only) and outdoor advertising.

    During the fourth quarter, total ad spending was up 2% compared with the same period in 2011.

    The fastest-growing media category last year was TV, which grew 8% over 2011, Kantar said. Outdoor advertising grew by 5%, and radio increased by 3%.

    Categories that were down last year included magazines (down 2%), newspapers (down 3%) and online (down 3%).

    Within the magazine category, ad spending in consumer magazines was down 3% from 2011, while ad spending in b2b magazines was down 2%.

  • RR Donnelley Awarded a Multi-Year Agreement by International Airlines Group

    Printer News, |

    3/12/2013 12:00:00 AM

    R. R. Donnelley & Sons Company today announced that it has been awarded a multi-year agreement by International Airlines Group (IAG) and its subsidiaries British Airways, Iberia and Avios. Under the terms of the agreement, which renews and expands the companies' relationship, RR Donnelley will provide a range of print management, direct response, warehousing and logistics services.

    "RR Donnelley has worked with British Airways for many years" said Enrique Grande, IAG head of procurement. "This new contract extends their remit across all the companies within IAG, providing a more comprehensive and efficient service for the group".

    International Airlines Group is one of the world's largest airline groups with 398 aircraft flying to 200 destinations and carrying more than 50 million passengers each year. British Airways is the UK's largest international airline and one of the world's leading global premium carriers. Iberia is Spain's largest air transport group and the third-largest in Europe, and the leading airline on routes between Spain and Latin America. Avios draw on its expertise and resources in travel and leisure rewards to offer choice, flexibility and exciting rewards to members of its programs.

  • Brown Printing Expands Mobile Solutions through the Acquisition of Nellymoser

    Printer News, |

    3/12/2013 12:00:00 AM

    Brown Printing Company today announced the acquisition of Nellymoser, a Boston-based mobile marketing and technology company.

    Nellymoser is a mobile innovator and a pioneer in rich media delivery, having deployed over 800 print-to-digital campaigns in 2012 for 50 of the Top 100 magazines.

    The company offers both a mobile companion application platform with self-service tools and packaged print-to-digital solutions, which are then, deployed by their customers as cross media campaigns. Campaigns typically include one or more brand activation points such as invisible watermarks, images, NFC and QR codes that are placed in magazines, catalogs, or on product packaging. Consumers scan the printed material with their mobile smartphones, thereby activating additional interactive content or digital direct response mobile marketing.
     
    Nellymoser will operate as a division of Brown, a Gruner + Jahr Company, and will maintain its operations in the Boston area. Nellymoser has been driven by a talented and dedicated group of employees with over 10 years of mobile experience. Brown will retain the core team and structure to grow the business by continuing to deliver industry-leading mobile solutions.

  • Urban Outfitters Reports a 104% Jump in Q4 Operating Profit

    End User News, |

    3/12/2013 12:00:00 AM

    Urban Outfitters, Inc., a leading lifestyle specialty retail company operating under the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands, today announced net income of $83 million and $237 million for the fourth quarter and year ended January 31, 2013, respectively.  Earnings per diluted share were $0.56 for the quarter and $1.62 for the year.

    Total Company net sales for the fourth quarter of fiscal 2013 increased to a record $857 million or 17% over the same quarter last year. Comparable retail segment net sales, which include our comparable direct-to-consumer channel, increased 11% while comparable store net sales were flat. Direct-to-consumer returns at stores are charged against store sales.  Excluding these returns, comparable store net sales would have been low single-digit positive.  Comparable retail segment net sales increased 37% at Free People, 11% at Urban Outfitters and 7% at Anthropologie. Direct-to-consumer net sales surged by 44% for the quarter and wholesale segment net sales rose 22%.

    For the year ended January 31, 2013, total Company net sales increased to a record $2.8 billion or 13% over the prior year. Comparable retail segment net sales increased 7% while comparable store net sales decreased by 1%. Excluding the direct-to-consumer returns at stores, comparable store net sales would have been low single-digit positive.  Direct-to-consumer net sales increased by 31% for the year and wholesale segment net sales increased 12%.

  • MWV Price Increase on Tango Blanks and Tango C1S Heavyweights

    Producer News, |

    3/12/2013 12:00:00 AM

    Effective with shipments on April 1, 2013, program pricing for Tango Blanks and Tango Heavyweights (C1S 14 point and above) will increase $2.50 per CWT.

    For customers who order these products in roll form, you will receive revised MSF pricing.

  • Grainger Reports February 2013 Sales Results

    End User News, |

    3/12/2013 12:00:00 AM

    Grainger today reported sales results for the month of February 2013.  Daily sales increased 6 percent versus February 2012, and included 4 percentage points from volume, 2 percentage points from price and 1 percentage point from acquisitions, partially offset by a 1 percentage point decline from foreign exchange.  The month of February 2013 had 20 selling days versus 21 selling days in February 2012.  The 2013 first quarter will have 63 selling days, one less than the 64 selling days in the 2012 first quarter.

  • Oil Drops for Second Day as China Industrial Output Slows

    Miscellaneous News, |

    3/11/2013 12:00:00 AM

    Brent crude fell for a second day as industrial production slowed in China, the world’s second- biggest oil consumer, and Saudi Arabia boosted output.

    Futures slid as much as 0.8 percent after gaining 0.4 percent last week, snapping three weeks of declines. Saudi Arabia’s crude production rose in February from a 20-month low, according to an official with knowledge of the country’s oil policy. China started the year with the weakest industrial output since 2009, government data showed March 9. Iran, which is under Western sanctions because of its nuclear program, said the prospects for resolving the dispute have improved.

    “We have no reason to rally,” amid rising Saudi output and reduced demand from refiners during seasonal maintenance, Andrey Kryuchenkov, an analyst at VTB Capital in London, said today in an e-mailed response to questions. Brent probably won’t drop below support at $109 a barrel, he said.

    Brent for April settlement on the London-based ICE Futures Europe exchange declined as much as 83 cents to $110.02 a barrel and was at $110.12 a barrel as of 9:37 a.m. London time.

  • In-Print - Another layer of security from Tullis Russell

    Printer News, |

    3/11/2013 12:00:00 AM
    Earlier this year we launched In-Print, an innovative new security feature, via Canada Post. Now we'd like to share it with you and offer you the chance to use it too.
     
    As a new security feature, In-Print can work beyond postage stamps and can also be used in a range of product labels.
     
    It can be offered as an authentication feature and also has the capability to be used for brand identity markets, providing consumers with peace of mind that the product is genuine.
     
    Key Benefits
     Print layer is locked into the substrate
     Simple, practical and cost effective way of verification
     Can be combined with other security features
     Coating designed to support printed security features
     Reassures the customer that the product is genuine
     
    Key features
     Print under adhesive: Reveal a print under the adhesive when a stamp or label is removed
     Print under silicone: Reveal a print on the release liner when a stamp or label is removed
     UV reactive print under coating: Print remains invisible until placed under UV light
     Manufactured to ISO 9001 standard
     Suitable for Digital print methods
  • Orient Paper, Inc. Reports Fourth Quarter and Full Year 2012 Preliminary Results

    Producer News, |

    3/11/2013 12:00:00 AM

    Orient Paper, Inc., a leading manufacturer and distributor of diversified paper products in North China, today announced preliminary unaudited financial results for the fourth quarter and full year 2012 ended December 31, 2012.

    As the Company has entered into negotiations for a potential sale of the land and buildings of its headquarters compound, the full audited financial results and annual report Form 10-K will be filed on or before March 18 2013, which is the deadline for submission to the Securities and Exchange Commission. The outcome of this negotiation is not expected to have a material impact on the Company's fourth quarter and full year 2012 results.

    Key Highlights for Fourth Quarter 2012:
    •Revenues up driven by accelerating ramp-up of new 360,000 tonne-per-year Corrugating Medium Paper line ("CMP") with sales volume up by 153.6% YoY 
    •Profitability affected by continuing weak product prices and a $2.8 million, one-time impairment loss due to the planned renewal of its legacy line to reinforce cost-leadership position in North China
    •Excluding the non-cash charge related to the impairment loss, non-GAAP operating income was $5.7 million, and non-GAAP net income was $4.7 million.
    •Progress in tissue paper business expansion to capture higher value and high growth market

    Key Highlights for Full Year 2012:
    •CMP sales volume rose by 135.3% YoY to 254,500 tonnes, of which 69.1% were from the new production line launched in December 2011
    •Excluding the non-cash charge related to the impairment loss, non-GAAP operating income was $23.6 million, and non-GAAP net income was $17.3 million.
    •Cash position significantly improved to $13 million supported by strong cash flow from operations
    •Board implemented regular dividend payout after its first quarterly cash dividend of $0.0125 per share in the second quarter of 2012.

  • Jeesr Industries Starts Up New Tissue Production Line in Morocco

    Producer News, |

    3/11/2013 12:00:00 AM

    Jeesr Industries on November 19, 2012 started up the first state-of-the-art tissue machine in Morocco at its facility in Berrechid, close to Casablanca.

    Metso supplied the new machine and said the Advantage DCT 100+ line came on stream smoothly and has been producing high quality paper from the start.

    “This investment is very important to us and we are of course pleased to see that the machine is operating according to our targets and that Metso have fulfilled our expectations,” said Souheil Badaa, Chief Marketing Officer, Novatis Group.

    Metso’s delivery included a complete production line with stock preparation equipment, an Advantage DCT 100+ tissue machine and a rewinder and wrapping equipment.

    The delivery also included an extensive automation package including Metso DNA machine, process and integrated drive controls, and a Metso IQ quality control system with Metso IQ Fiber Weight Measurement.

  • Newspapers Remain Top Sports Source For Men

    End User News, |

    3/11/2013 12:00:00 AM

    Between social media, mobile and cable TV, sports news outlets have been proliferating -- but newspapers are still the top source for sports news for sports fans. Among male sports fans ages 18-54, 76% cited the sports section of their local newspaper Web site as one of their “go-to” sources for sports news, while 69% cited the print edition.
     
    That compares with 66% for ESPN.com, 46% for league sites, 45% for Yahoo Sports.com, and 45% for ESPN Sports Center. Further down the list, 33% said sports talk radio and 23% said Sports Illustrated or SI.com.
     
    The finds are from a survey by M/A/R/C for the Newspaper National Network. The poll of 716 men ages 18-54, including in-depth interviews with 404, found that this key audience demo prefers both print and online newspapers to any other source for sports content.

    Even more striking, men ages 18-54 who didn’t classify themselves as regular newspaper readers still cited newspaper Web sites as their top source of sports news.
     
    Overall, 75% of non-regular readers cited newspaper Web sites as a go-to source, compared to 71% for ESPN.com, 40% for Yahoo Sports.com, and 38% for ESPN Sports Center. Sports talk radio trailed at 27%, and Sports Illustrated and SI.com came in at 16% and 13% among non-regular readers.

  • Bertelsmann Welcomes Clearance of Penguin Random House by ACCC in Australia

    End User News, |

    3/11/2013 12:00:00 AM

    The ACCC in Australia will approve the planned combination of Random House and Penguin Group, the book-publishing operations of the two international media companies Bertelsmann and Pearson, without any restrictions. This was announced today by the competent authorities. Bertelsmann and Pearson welcome this ruling as an important step on the path towards completing the planned transaction. They had announced the founding of Penguin Random House last October.

    On February 14, 2013 the U.S. Department of Justice had already cleared the planned merger – also without restrictions. Meanwhile, the planned transaction is being reviewed by several other antitrust authorities in different parts of the world. Bertelsmann and Pearson can finalize the transaction as soon as all the necessary approvals have been received. The two companies are confident of receiving these approvals over the course of the year.

    The planned publishing house, in which Bertelsmann will own 53 percent and Pearson 47 percent of shares, will encompass all of Random House and Penguin Group’s publishing units in the U.S., Canada, the U.K., Australia, New Zealand, India and South Africa, as well as Penguin’s operations in China and Random House’s publishers in Spain and Latin America.

  • John Wiley & Sons, Inc., Reports Third Quarter Fiscal Year 2013 Results

    End User News, |

    3/8/2013 12:00:00 AM

    John Wiley & Sons, Inc., a global provider of knowledge and knowledge-based services in areas of scientific, technical, medical, and scholarly research (STMS); professional development (PD); and education today announced results for the third quarter of fiscal year 2013:
     
    Adjusted:
    Revenue grew 6% to $461 million excluding divested consumer publishing programs and including acquisitions. Revenue grew 1% excluding both the divested and acquired assets.  Digital revenue growth in Professional Development and Global Education was offset by continued softness in print books and lower STMS journal revenue, as expected

    Adjusted revenue change by segment, excluding FX and divested consumer publishing revenue:  STMS -3%, PD +14%, and Education +18%

    As noted in its December second quarter earnings announcement, Wiley announced an expansion of its ongoing program to restructure and realign its cost base with current and anticipated future market conditions. When implemented, the plan will reduce operating expense and the cost of sales to improve margins, profitability and accelerate earnings growth while providing increased capacity for investment to grow its digital businesses.  Working with a third-party restructuring firm since January, the Company is progressing towards finalizing plans to realize approximately $80 million in cost savings on a run-rate basis by the end of April 2014.  The Company is targeting a majority of the cost savings achieved to improve margins and earnings, while some will be reinvested in high growth digital business opportunities. 

  • Rite Aid Reports Same Store Sales for February

    End User News, |

    3/8/2013 12:00:00 AM

    Rite Aid Corporation today announced sales results for February.

    For the five weeks ended March 2, 2013, same store sales decreased 3.6 percent over the prior-year period. February front-end same store sales decreased 1.3 percent while February front-end same store sales attributable to flu-related over-the-counter products were flat. Pharmacy same store sales, which included an approximate 695 basis points negative impact from new generic introductions, decreased 4.7 percent. Prescription count at comparable stores increased 0.3 percent over the prior-year period. This number includes a decrease of 0.1 percent attributable to flu-related prescriptions and flu shots.

  • Gap Inc. Reports February Sales

    End User News, |

    3/8/2013 12:00:00 AM

    Gap Inc. today reported that February 2013 net sales increased 11 percent compared with last year.

    Net sales for the four-week period ended March 2, 2013 were $966 million compared with net sales of $874 million for the four-week period ended February 25, 2012. Due to the 53rd week in fiscal year 2012, February 2013 comparable sales are compared to the four-week period ended March 3, 2012. On this basis, the company’s comparable sales for February 2013 were up 3 percent compared with a 4 percent increase for February 2012.
     
    "Building on our successful 2012 performance, we’re pleased with the company’s overall sales results in February," said Glenn Murphy, chairman and chief executive officer of Gap Inc.
     
    Comparable sales by global brand for February 2013 were as follows:
    •Gap Global: positive 2 percent versus negative 2 percent last year
    •Banana Republic Global: negative 5 percent versus positive 11 percent last year
    •Old Navy Global: positive 6 percent versus positive 5 percent last year

  • Intertape Polymer Group Reports Improved 2012 Fourth Quarter and Annual Results

    Packaging News, |

    3/8/2013 12:00:00 AM

    Intertape Polymer Group Inc. today released results for the fourth quarter and year ended December 31, 2012. All dollar amounts are US denominated unless otherwise indicated.

    Revenue for the year ended December 31, 2012 decreased 0.3% to $784.4 million compared to $786.7 million in 2011. After adjusting for the closure of the Brantford facility in the second quarter of 2011, revenue increased 0.3% in 2012 from $781.7 million in 2011. The adjusted selling prices, including the impact of product mix, increased approximately 3% partially offset by the adjusted sales volume decrease of approximately 3%. An improved pricing environment that began in 2011 as well as the reduction in sales of low-margin products were the primary reasons for the increase in selling prices including the impact of product mix. The decrease in sales volume was primarily due to the progress the Company made toward reducing sales of low-margin products partially offset by an increase in sales of new products.

    Fourth quarter revenue increased 3.4% to $189.3 million, compared to $183.0 million in 2011 and decreased 4.6% sequentially from $198.5 million for the third quarter of 2012.

    Sales volume for the fourth quarter of 2012 increased approximately 6% compared to the fourth quarter of 2011 primarily due to increased demand for tape products. The decrease in the sales volume of approximately 3% when compared to the third quarter of 2012 largely reflects normal seasonality.

    Selling prices, including the impact of product mix, decreased approximately 3% in the fourth quarter of 2012 compared to the fourth quarter of 2011 primarily due to a shift in the mix of products sold. When compared to the third quarter of 2012, selling prices, including the impact of product mix, decreased by approximately 2% primarily due to a shift in the mix of products sold.

    Gross profit totalled $141.0 million for 2012, an increase of 23.2% from 2011. Gross margin was 18.0% in 2012 and 14.6% in 2011. The increase in gross profit in 2012 compared to 2011 was primarily due to an improved pricing environment, manufacturing cost reductions, increase in sales of higher margin products and the closure of the Brantford, Ontario manufacturing facility in 2011 partially offset by lower sales volumes. The increase in gross margin in 2012 compared to 2011 was primarily due to manufacturing cost reductions, an increase in sales of higher margin products, an improved pricing environment and the progress made toward reducing sales of low-margin products.

  • Wood Fiber Costs for Pulp Mills Fell in North America and Latin America in 4Q 2012

    Producer News, |

    3/8/2013 12:00:00 AM

    Wood fiber prices trended downward in the local currencies in many of the key pulp-producing countries of the world in the fourth quarter of 2012, according to the report Wood Resource Quarterly (WRQ).

    However, as a result of the weakening US dollar, wood fiber prices actually increased in US dollar terms in a number countries and the Softwood Wood Fiber Price Index (SFPI) was up slightly (+0.1%) in the 4Q/12 to $100.13/odmt. The biggest increases from the 3Q to the 4Q occurred in Eastern Canada, Finland, France and New Zealand, WRQ added.

    The price declines in the local currencies were mainly the result of an increased supply of softwood fiber in regions with extensive lumber production. In the US Northwest, chip prices fell as much as 27 percent during 2012 and pulp mills in the region had some of the lowest softwood fiber costs in the world in the 4Q/12.

    Additional volumes of residual chips from increased lumber production, reductions in pulp production and pulpmill outages, and large supplies of pulplogs were all factors that contributed to the dramatic turnaround in fiber costs during 2012. A similar trend was seen in Western Canada, where prices in the 4Q/12 were down 22 percent from late 2011, reaching their lowest levels in three years.

    Hardwood fiber price movements were mixed, with hardwood pulplog prices generally trending downward in many of the key hardwood pulp-producing regions in both local currencies and in US dollar terms. This resulted in a decline in the Hardwood Wood Fiber Price Index (HFPI) to US$104.80/odmt in the 4Q/12. This was down 1.5 percent from the previous quarter and 7.8 percent from the 4Q/11.

  • Mag Bag: Redbook, Taste of Home Get Revamps

    End User News, |

    3/8/2013 12:00:00 AM
    More magazines are unveiling new looks, as publishers reposition titles to keep pace with the changing interests and habits of readers. Both Redbook and Taste of Home have been revamped to make them more social and mobile-friendly.
     
    Redbook’s editorial overhaul, on display with its April issue, is moving the title (traditionally a bit staid, compared to other women’s lifestyle titles) in a more “fabulous” direction, with more fashion, beauty, food and home content.
     
    Among other things, the magazine will deliver more upscale-but-affordable clothing and décor pointers, with “high design available at accessible price points.” The magazine is also introducing “Team Red,”bringing together celebrity contributors such as Kelly Osbourne on fitness, Tori Spelling on home décor, The Chew’s Carla Hall on food, and makeup artist Mally Roncal on beauty.
     
    On the design side, Redbook is getting updated graphic treatments, more vivid colors, and more prominent photography. The magazine is also including e-commerce activation with Eye Capture digital watermark technology, allowing readers to shop from its pages and share content with friends using smartphones. The Web site, Redbookmag.com, is also offering shoppable content with Kneon’s HyperPhoto a new “Shop Now” button.
     
    The Reader’s Digest Association is revamping Taste of Home, giving it a new look and 20% more pages of editorial content. Now perfect-bound and printed on a heavier stock, Taste of Home will include more healthy recipes and health-related content, as well as clip-and-save recipe cards, and a new logo. According to the fall 2012 MRI index, Taste of Home reaches 11.1 million readers.
  • Content Subscription Site NSFW Corp. Expanding into Print

    End User News, |

    3/8/2013 12:00:00 AM

    Paul Carr, a former TechCrunch writer, is prepping a relaunch of his NSFW Corp., a subscription-based content site featuring a comedic spin on current and world events that he launched last year.

    The launch touched a nerve among media watchers, much like Andrew Sullivan has more recently done with his subscription-only site The Dish, mainly because it aims to thrive only on reader revenues, no advertising, on a small-market niche scale.

    Throughout, Carr has been loudly vocal about his company's seemingly against-the-grain strategies. From a recent blog post: 

    "Our entire business is an anachronism. A  throwback to old media. An attempt to cling on to a bygone era where news organisations would maintain newsrooms, from which editors would send journalists off to far-flung locations, to spend weeks or months reporting a story that may or may not ever be published. And where those stories that do make it to press are first subjected to a barrage of fact-checking, copy editing, art directing and re-editing — before being locked behind a paywall marked “KEEP OUT, SUBSCRIBERS ONLY!”

    He's delighted in showing how a digital media company can succeed using old-media strategies. Indeed, NSFW's content is, more often than not, long-form investigative content. Carr cites a story during the election cycle that involved renting a house for a reporter to live in Salt Lake City and report on local residents' impressions of Mitt Romney. "They can be heavily embedded, heavily personal stories about real subjects where we send real reporters to real places," he says.

  • Cascades Antibacterial Paper Towel Gains Multiple Product Recognitions

    Packaging News, |

    3/8/2013 12:00:00 AM

    Today, Cascades Tissue Group announced its Cascades Antibacterial paper towel secured a “4-Star” Environmental Leader Technology Review Score and has been named a 2013 Edison Awards Finalist in the Consumer Packaged Goods: Cleaning Solutions category. Both mark prestigious recognition for the novel paper towel that was launched in 2010 on the Canadian Away-from-Home market and in 2012, in United States.

    The Cascades Antibacterial Paper Towel provides a simple and effective way to further reduce bacterial contamination and transmission. Unlike ordinary paper towels, it almost instantly kills over 99.99 percent of harmful bacteria. By integrating a safe active ingredient into a dry format, the distinctly green-colored paper towel compensates for people's imperfect hygiene habits without changing how they wash or dry their hands.

  • AAA Fuel Gage & Exchange Rates

    Miscellaneous News, |

    3/8/2013 12:00:00 AM

    AAA Fuel Gage 3/08/13
    National Unleaded Regular:
    Current Average - $3.712/gallon
    Month Ago Average - $3.546/gallon
    Year Ago Average - $3.758/gallon
    Highest Recorded Average - $4.114/gallon on 7/17/08
    Diesel:
    Current Average - $4.101/gallon
    Month Ago Average - $3.997/gallon
    Year Ago Average - $4.089/gallon
    Highest Recorded Average - $4.845/gallon on 7/17/08

    Current Exchange Rates as of 3/08/13
    American Dollar to Canadian Dollar = 0.971128
    American Dollar to Chinese Yuan = 0.160788
    American Dollar to Euro = 1.310378
    American Dollar to Japanese Yen = 0.010446
    American Dollar to Mexican Peso = 0.078497

  • WTI Oil Set for First Weekly Gain in Three; Brent System Resumes

    Miscellaneous News, |

    3/8/2013 12:00:00 AM

    West Texas Intermediate oil headed for the first weekly gain in three weeks. Brent crude’s premium to New York futures narrowed as a North Sea pipeline network resumed five days after it was shut because of a leak.

    WTI was little changed after rising 1.3 percent yesterday, the most in more than three weeks, as U.S. jobless claims fell to a six-week low. Data today will probably show the U.S. added more jobs in February, according to a Bloomberg survey of economists. Oil may drop next week as weaker demand from refineries boosts U.S. inventories, a separate survey showed. The North Sea Brent pipeline system resumed pumping yesterday after an unplanned halt on March 2, according to Abu Dhabi National Energy Co. (TAQA) PJSC, the operator known as Taqa.

    “Risk appetite is growing,” said Gerrit Zambo, an oil trader at Bayerische Landesbank in Munich. “But the fundamental situation in the oil market is well-supplied.”

    WTI for April delivery was at $91.52 a barrel, down 4 cents, in electronic trading on the New York Mercantile Exchange at 10:23 a.m. London time.

  • TravelAge West to debut adventure travel publication

    End User News, |

    3/8/2013 12:00:00 AM

    Travel industry magazine TravelAge West is set to launch Explorer, a publication for travel agents that will focus on adventure, soft adventure and experiential travel as well as eco-tourism.

    “These days, the travel industry is witnessing incredible growth in the adventure-travel market, and travelers are looking for more in-depth, unique experiences when they are planning a vacation,” said Janeen Christoff, managing editor, in a statement. “Our goal at Explorer is to provide our readers with tools and inspiration to increase this aspect of their businesses.”

    The semiannual publication will provide readers with on-site reviews, packages, sales tools and related products for the experiential travel market. The first issue will be published April 29.

  • Arctic Paper announces a general price increase of 5-7% for coated fine papers

    Producer News, |

    3/8/2013 12:00:00 AM
    During 2012 Arctic Paper has taken several measures to further reduce costs and increase efficiency. In 2013 the company will continue these efforts. However, current manufacturing cost levels, based on high cost levels for raw material, energy and transportation make a paper price increase unavoidable.
     
    Arctic Paper wishes to announce to its customers a price increase on all CWF paper grades, both in sheets and reels. The price increase will range from 5-7% and will differ from the current price levels per country and paper grade.
     
    The price increase will affect deliveries from 15 April 2013. Further price increases in 2013 seems to be inevitable, to secure a minimum profitability.
  • Greenfield's RR Donnelley & Sons company closing

    Printer News, |

    3/8/2013 12:00:00 AM

    Citing "changing market conditions," the RR Donnelley & Sons company in Greenfield, previously known as Banta publishing, informed its employees Wednesday that it will be closing in May. Nearly 170 employees will lose their jobs as a result of the closing.

    Greenfield city manager Ron Coffey said his office was notified of the closing early Wednesday morning. "Our thoughts and prayers go out to all the employees," said Coffey, who noted that the closing will have a "widespread impact" on the village.

    A person reached at the company office late Wednesday morning said officials had no comment at this time. Coffey said he was told there would be a statement issued later from the corporate communications office.

  • Limited Brands Reports February 2013 Sales

    End User News, |

    3/7/2013 12:00:00 AM
    Limited Brands, Inc. reported a comparable store sales increase of 3 percent for the four weeks ended March 2, 2013, compared to the four weeks ended March 3, 2012.  The company reported net sales of $712.7 million for the four weeks ended March 2, 2013, compared to net sales of $653.9 million for the four weeks ended Feb. 25, 2012.
  • Verso Paper Corp. Reports Fourth Quarter and Year-End 2012 Results

    Producer News, |

    3/7/2013 12:00:00 AM

    Verso Paper Corp. today reported financial results for the fourth quarter and year ended December 31, 2012. Results for the quarters ended December 31, 2012 and 2011 include:
    • Operating income of $60.9 million in the fourth quarter of 2012, compared to operating loss of $36.0 million in the fourth quarter of 2011.
    • Net income of $25.5 million in the fourth quarter of 2012, or $0.48 per diluted share, compared to net loss of $67.9 million, or $1.29 per diluted share, in the fourth quarter of 2011.

    Verso's net sales for the fourth quarter of 2012 decreased $89.3 million, or 19.8%, compared to the fourth quarter of 2011, reflecting a 17.0% decline in total sales volume, which was driven by the closure of three paper machines late last year and the closure of the Sartell mill in the third quarter of this year, as well as a 3.4% decrease in the average sales price per ton for all of our products. Verso's gross margin was 14.0% for the fourth quarter of 2012 compared to 12.6% for the fourth quarter of 2011.

    Verso reported net income of $25.5 million in the fourth quarter of 2012, or $0.48 per diluted share, which included $47.4 million of net gains from special items, or $0.90 per diluted share, primarily due to proceeds from the insurance settlement related to the fire and explosion at our Sartell mill. Verso had a net loss of $67.9 million, or $1.29 per diluted share, in the fourth quarter of 2011, which included $51.5 million of charges from special items, or $0.98 per diluted share.

    Verso's net sales for 2012 decreased $247.9 million, or 14.4%, compared to 2011, reflecting an 11.1% decrease in volume for all of our products, which was driven by the shutdown of three paper machines late last year and the closure of the Sartell mill in the third quarter of this year, as well as a 3.7% decrease in sales prices compared to 2011.

    For the year ended December 31, 2012, Verso recorded special items totaling $57.8 million, or $1.09 per diluted share, primarily related to restructuring costs associated with the closure of our Sartell mill, offset by the proceeds from the insurance settlement related to the fire and explosion at our Sartell mill. For the year ended December 31, 2011, special items of $82.8 million, or $1.57 per diluted share, were primarily related to restructuring costs associated with the shutdown of three paper machines, losses related to debt refinancing, goodwill impairment, and the negative impact of de-designating certain hedges.

    Excluding special items, net loss was $116.0 million, or adjusted diluted loss per share of $2.19, for the year ended December 31, 2012. Excluding special items, net loss was $54.3 million, or adjusted diluted loss per share of $1.02, for the year ended December 31, 2011.

  • Meredith Corporation Confirms Discussions With Time Warner

    End User News, |

    3/7/2013 12:00:00 AM

    Meredith Corporation confirmed today that it held discussions with Time Warner, Inc. (NYSE: TWX; www.timewarner.com) regarding a potential combination of  Meredith's National Media Group with Time Inc.'s Lifestyle and Style & Entertainment brands.   Earlier today, Time Warner announced that it is going to spin off its entire Time Inc. subsidiary into a separate publicly traded company.

    Meredith Chairman and Chief Executive Officer Stephen M. Lacy said, "At Time Warner's initiation, we discussed combining our National Media Group with certain Time Inc. brands to create a new publicly traded company.  There are natural synergies between our two portfolios; however, we respect Time Warner's decision and certainly remain open to continuing a dialogue on how our companies might work together on future opportunities." 

    Lacy continued, "Going forward, Meredith will continue to enhance shareholder value through ongoing execution of our successful Total Shareholder Return strategy and building on our company's strong momentum. We are in an excellent financial position given the significant free cash flow our businesses generate and our low debt level.  We will continue to focus on initiatives designed to maximize the value of our attractive national and local media and marketing services assets, including strategic acquisitions. "  

  • Time Warner Inc. Announces Plan to Separate Time Inc.

    End User News, |

    3/7/2013 12:00:00 AM

    Time Warner Inc. today announced that its Board of Directors has authorized management to proceed with plans for the complete legal and structural separation of Time Inc. from Time Warner. Following the proposed transaction, Time Inc. would be an independent, publicly traded company. Time Warner aims to complete the proposed transaction by the end of the calendar year.

    Time Warner Chairman and Chief Executive Officer Jeff Bewkes said: "After a thorough review of options, we believe that a separation will better position both Time Warner and Time Inc. A complete spin-off of Time Inc. provides strategic clarity for Time Warner Inc., enabling us to focus entirely on our television networks and film and TV production businesses, and improves our growth profile. Time Inc. will also benefit from the flexibility and focus of being a stand-alone public company and will now be able to attract a more natural stockholder base. As we saw with the prior spin-offs of Time Warner Cable and AOL, we expect the separation will create additional value for our stockholders."

    Time Inc. CEO Laura Lang has advised Time Warner that she will stay on through this process and will help in identifying and selecting a successor. "Laura indicated to me that we should find a different kind of CEO for this new public company, and I respect her decision," Bewkes said. "She has been a great partner who has given Time Inc. forward momentum to make this transition possible, and I look forward to working with her to select the right leader to head the company as an independent entity."

  • American Eagle Outfitters Reports Record Annual Sales

    End User News, |

    3/7/2013 12:00:00 AM

    American Eagle Outfitters, Inc. today reported adjusted fiscal year 2012 earnings for the 53 weeks ended February 2, 2013 of $1.39 per share, a 43% increase from fiscal year 2011 adjusted earnings of $0.97 per share for the 52 weeks ended January 28, 2012. GAAP earnings of $1.16 per share this year include a loss from discontinued operations of ($0.16) per share, a tax benefit of $0.06 per share and restructuring and store impairment charges of ($0.13) per share. The EPS figures refer to diluted earnings per share.

    Robert Hanson, chief executive officer stated, ?I?m extremely pleased with our progress in 2012 as the team delivered on our near-term priorities and exceeded our targeted financial metrics. In a competitive and volatile consumer environment, we drove a strong top line on leaner inventories, reduced markdowns and achieved cost leverage. We remain focused on our strategic plan aimed at fortifying our brands and processes and growing our business across North America. Concurrently, we are laying the ground work for transformational global expansion, while continuing to drive strong returns to our shareholders.?

    For the 14 weeks ended February 2, 2013 the company reported adjusted earnings of $0.55 per share, a 41% increase compared to adjusted EPS of $0.39 for the 13 weeks ended January 28, 2012. EPS was in line with the company?s guidance. GAAP earnings of $0.47 per share this year include a tax benefit of $0.04 per share and restructuring and store impairment charges of ($0.12) per share. A reconciliation of GAAP to non-GAAP financial measures is provided in the following tables.

  • Ahlstrom's Sustainability Report 2012 published

    Packaging News, |

    3/7/2013 12:00:00 AM

    Ahlstrom, a global leader in high performance fiber-based materials, published today its third stand-alone Sustainability Report. The publication can be viewed as PDF file at www.ahlstrom.com> Sustainability.

    The Sustainability Report 2012 complies with the B+ application of the Global Reporting Initiative G3 guidelines (version 3.0). The quantitative information on economic, social and environmental responsibility has been assured by PricewaterhouseCoopers Oy.

    Ahlstrom offers products with purpose that protect people, purify air and liquids, and provide surface and structure for its customers' products. The products are made from sustainably sourced raw materials. Last year, 91% of the fibers used were from renewable sources, 81% certified or controlled wood. The Ahlstrom Supplier Code of Conduct was successfully implemented among Ahlstrom's main raw material suppliers.

  • Aptar Group Reports Fourth Quarter and Annual Results

    Packaging News, |

    3/7/2013 12:00:00 AM

    AptarGroup, Inc. today reported fourth quarter and annual results. The Company also updated the status of its previously announced plan to optimize certain European operations.

    For the quarter ended December 31, 2012, reported sales increased 5% to $571 million from $545 million a year ago. Recently acquired Aptar Stelmi contributed approximately $31 million or 6% to the quarterly sales growth. Changes in currency exchange rates negatively impacted sales by approximately 3%.

    For the year ended December 31, 2012, reported sales of $2.3 billion were approximately equal to the prior year sales. Changes in currency exchange rates negatively impacted sales by approximately 5%. Recently acquired Aptar Stelmi contributed approximately $57 million or 2% to the annual sales growth.

  • WTI Trades Near Lowest in 10 Weeks; Brent Pipeline Starts

    Miscellaneous News, |

    3/7/2013 12:00:00 AM

    West Texas Intermediate traded near its lowest closing price this year after U.S. crude stockpiles increased almost five times more than estimated. The North Sea Brent pipeline system resumed operation after a five-day halt.

    WTI futures fluctuated after falling yesterday for the fourth time in five days. Crude supplies increased by 3.8 million barrels last week, a U.S. Energy Department report showed yesterday, compared with a projected 788,000 barrels in a Bloomberg News survey. The Brent pipeline is flowing at less than full capacity, a spokesman for operator Abu Dhabi National Energy Co. (TAQA) PJSC, known as Taqa, said by telephone from Abu Dhabi, capital of the United Arab Emirates.

    “The Energy Department report yesterday was bearish for crude,” said Michael Poulsen, an analyst at Global Risk Management Ltd. in Middelfart, Denmark. “Fundamentally, the oil market remains balanced.”

    WTI for April delivery was at $90.73 a barrel, up 30 cents, in electronic trading on the New York Mercantile Exchange at 10:58 a.m. London time.

  • Costco Wholesale Corporation Reports February, Second Quarter and Year-to-Date Sales Results

    End User News, |

    3/7/2013 12:00:00 AM

    Costco Wholesale Corporation today reported net sales of $7.58 billion for the month of February, the four weeks ended March 3, 2013, an increase of eight percent from $7.01 billion during the similar period last year.

    For the twenty-six weeks ended March 3, 2013, the Company reported net sales of $51.35 billion, an increase of nine percent from $47.22 billion during the similar period last year.

  • Stein Mart, Inc. Reports February 2013 Sales

    End User News, |

    3/7/2013 12:00:00 AM
    Stein Mart, Inc. today reported sales and comparable store sales for the four-week period ended March 2, 2013. As a reminder, the extra 53rd week in fiscal 2012 created a timing shift for fiscal 2013, resulting in a one-week difference between our fiscal reporting and comparable store sales reporting periods.
  • Publishers Raising Digital Sub Prices, Paywalls Pay Off

    End User News, |

    3/7/2013 12:00:00 AM
    Publishers who use Press+, the metered access platform created by Journalism Online and now owned by RR Donnelley, are raising subscription prices and lowering the number of articles visitors can view for free before having to pay.
     
    Far from seeing online readership drop after implementing paywalls (as once feared), publishers feel confident enough to push the model further for additional revenues.
     
    Among the more than 400 publishers using the Press+ platform, the average price for a monthly subscription has increased from $6.66 in July 2011 to $9.26 today, for 39% growth in less than two years; 5% of that increase came in the last six months, a survey of Press+ customers conducted by the company.
     
    Most publishers have reduced the number of articles visitors can view for free before running into a subscription roadblock -- from 13 in January 2012 to 10 today. Currently, 35% of Press+ publishers allow free access to five articles or less, while 41% allow free access to six to 10 articles, 18% allow access to 11 to 15 articles, and 5% allow access to 16 articles or more.
  • PaperWorks Industries sells flexible packaging assets to Exopack

    Packaging News, |

    3/7/2013 12:00:00 AM
    PaperWorks Industries, Inc. is pleased to announce the March 1 sale of its flexible packaging assets to Exopack, a $900M flexible packaging company serving the pet food, frozen food, meat and cheese, beverage, industrial, electronics and medical devices through 17 North American production facilities. Both Exopack and PaperWorks are owned by the private investment firm Sun Capital Partners, Inc.
     
    “We plan to move all of our flexible manufacturing equipment to Exopack sites in North America in the coming months,” said Lisa Pruett, Senior Vice President Sales at PaperWorks Packaging Group. “The relationships we have built with our flexible packaging customers are extremely valuable to us, which is why we will maintain the day-to-day management of the business.”
     
    PaperWorks customers will have the opportunity to tap into Exopack’s vast resources and manufacturing footprint. “I can assure our customers that there will be absolutely no disruption to supply and quality, and that service and reliability will only be improved by Exopack’s resources,” said Pruett.
  • SFI Applauds EU's New Illegal Logging Rules

    Environmental News, |

    3/7/2013 12:00:00 AM

    Kathy Abusow, President and CEO of the Sustainable Forestry Initiative® Inc. (SFI®), today applauded the European Union Timber Regulation (EUTR), which took effect March 3 and prohibits illegally harvested timber or products derived from such timber to be brought in the European Union.

    "Illegal logging undermines responsible forest governance, damages wildlife habitat, and reduces the potential for forests to provide stable supplies of products and support local communities," Abusow said. "The EUTR, just like the U.S. Lacey Act, is an important regulatory tool to address illegal logging and enable legal global trade in forest products."

    Abusow is speaking at The Economist World Forests Summit in Stockholm, Sweden, on the timely topic of timber regulations that prohibit the sale of illegally harvested timber. On this panel, Abusow applauded timber regulations as one of many important mechanisms to combat illegal logging. She also asked the audience to remember that while illegal logging is a global problem, responsible forestry is the solution given the many economic, environmental, and social values that working forests support.

  • UPM’s commitment to sustainable products recognised in the EU Ecolabel Communication Award 2012

    Environmental News, |

    3/7/2013 12:00:00 AM

    UPM has been awarded the EU Ecolabel Communication Award 2012 in the Producer/Retailer category. UPM Paper is the largest producer of newsprint, graphic and copying papers with the EU Ecolabel. Third-party ecolabels prove the environmental quality of products and support customers in their choices.

    "With so many different environmental labels currently existing, producers and consumers know that having the EU Ecolabel is the best way to prove throughout Europe that their products have excellent environmental performance", says Michele Galatola, EU Ecolabel Coordinator, DG Environment, European Commission.

    The EU Ecolabel Communication Award recognises holders of the EU Ecolabel that have shown outstanding achievement in increasing public awareness and knowledge of the EU Ecolabel through promotional campaigns. The jury is composed of the European Commission, representatives of several Competent Bodies, as well as the press and a representative of an NGO.

  • Walgreens February Sales Decrease 2.2 Percent

    End User News, |

    3/6/2013 12:00:00 AM

    Walgreens had February sales of $5.75 billion, a decrease of 2.2 percent from $5.88 billion for the same month in fiscal 2012. Last year’s total February sales benefited from one extra day because of the leap year. Excluding last February’s leap day, this year’s February sales increased 1.5 percent. Total front-end sales decreased 3.1 percent compared with the same month in fiscal 2012, and were flat when excluding last February’s leap day. All comparable store sales and comparable prescription figures below compare the first 28 days in February 2012 to the 28 days in February 2013.

    Comparable store front-end sales decreased 1.4 percent, while customer traffic in comparable stores decreased 4.9 percent and basket size increased 3.5 percent.

  • Torstar Corporation Reports Fourth Quarter Results

    End User News, |

    3/6/2013 12:00:00 AM

    Torstar Corporation today reported financial results for the fourth quarter ended December 31, 2012.

    Highlights for the quarter:
    Revenue was $395.7 million in the fourth quarter of 2012, down $29.6 million from $425.3 million in the fourth quarter of 2011. Excluding the impact of acquisitions and a decrease at TMGTV resulting from lower product sales, revenue was down $23.0 million (5.4%) in the fourth quarter. Net income attributable to equity shareholders was $24.1 million ($0.30 per share) in the fourth quarter, down $40.2 million ($0.51 per share) from $64.3 million ($0.81 per share) last year.

    Highlights for the year:
    Revenue was $1,485.7 million in 2012, down $63.1 million from $1,548.8 million in 2011. Excluding the impact of acquisitions and a decrease at TMGTV resulting from lower product sales, revenue was down $64.9 million (4.2%) in 2012. Net income attributable to equity shareholders was $103.2 million or $1.30 per share in 2012 down $114.5 million or $1.44 per share from $217.7 million or $2.74 per share in 2011. Excluding the impact of CTV Inc. in 2011, Torstar would have reported net income attributable to equity shareholders of $143.1 million or $1.80 per share in 2011.

  • Smurfit Kappa UK confirms significant investment in the South West during 2013

    Packaging News, |

    3/6/2013 12:00:00 AM

    Smurfit Kappa the European leader in innovative paper based packaging has announced a major investment package consisting of a six-colour flexographic, rotary die-cut press, an enhanced material handling system and corrugator upgrades for its Yate, Bristol plant.

    The main investment is part of Smurfit Kappa’s continuing development of its High-Quality Post Print (HQPP) service at the BRC and AIB certified site. Supplying a wide range of customers in the South of England, as well as major national brands and Pan-European customers, Smurfit Kappa Yate has drawn from the knowledge and experience of award winning HQPP, six-colour printing expertise at other Smurfit Kappa UK plants. As part of the development process, John Wroot has moved to become Operations Director at Yate from Smurfit Kappa’s Chelmsford plant, one of Europe’s foremost and award winning HQPP plants.

    Beyond the new machine outlay Smurfit Kappa Yate is upgrading the plant’s material handling system to give greater accuracy and reliability, and when combined with modular enhancements on the corrugator will drive additional improvements in quality and service at the high volumesite.

  • Metsa Board to Hike Prices for White-top Kraftliner in Europe, Middle East and Africa

    Packaging News, |

    3/6/2013 12:00:00 AM

    Metsa Board announced that it will increase the prices of all Kemiart white-top kraftliner grades by EUR 50 per ton in Europe, the Middle East and Africa, effective for deliveries as of April 8.

    Metsa Board said the price hike is due to the continued high input costs associated with production.

  • Arandell Does it Again – Places in the WOA Print Awards

    Printer News, |

    3/6/2013 12:00:00 AM
    Arandell, announced today that they received 2nd and 3rd place in the 2012/2013 Web Offset Association’s Print Awards, held annually by the Printing Industries of America.
     
    Arandell’s 2nd place award was for producing Peruvian Connection | Summer 2012, using heatset printing 4/color on coated paper (perfect bound). Arandell was also commended for Zingerman’s | 2012 Fall Buyers Guide which was produced using heatset printing 4/color on uncoated paper. The catalogs were assessed on registration, level of difficulty, folding / binding / finishing and overall craftsmanship of product.
     
    Jim Treis, Arandell Executive Vice President of Sales and Marketing, stated, “The WOA Print Awards demonstrate the hard work and tireless effort our teams put forth to create a flawless artistic marketing piece.  Having the opportunity to win a category is not an easy challenge and something to be very proud of.”
  • Catalyst Paper Q4 results impacted by lower sales volumes, higher maintenance and stronger Canadian dollar

    Producer News, |

    3/6/2013 12:00:00 AM

    Catalyst Paper results in the fourth quarter were negatively impacted by lower sales volumes, higher maintenance spending and a stronger Canadian dollar.
     
    Catalyst posted a net loss of $35.2 million for the quarter, in contrast to net earnings of $655.7 million in the third quarter, when the one-time gains realized on emergence from creditor protection were booked. Before specific items, net losses were $15.7 million and $7.5 million in Q4 and Q3 respectively. Adjusted EBITDA was $7.2 million in Q4, with no impact from restructuring costs, and $13.8 million in Q3 ($14.0 million before restructuring costs).
     
    Market conditions were mixed during the fourth quarter, with North American paper demand down from the third quarter for directory and newsprint, and up for coated and uncoated grades. Benchmark prices were up for newsprint and coated and otherwise stable for paper, while there was moderate benchmark price recovery for pulp. A market curtailment at Powell River was necessary over the holidays to balance production with orders, and Catalyst incurred a loss from discontinued operations largely due to an increased estimated pension withdrawal liability associated with the Snowflake closure.

    Net earnings of $583.2 million for 2012 were heavily impacted by one-time non-cash restructuring credits and fair value accounting adjustments. This compared with a $974.0 million net loss in 2011 which was driven largely by asset impairment charges.
     
    Catalyst entered creditor protection on January 31, 2012, and exited on September 13, having achieved a US$390.4 million or 60 per cent reduction in its debt, savings in annual interest expense of US$33.9 million, and a range of other cost reductions. The restructuring included the permanent closure of its Snowflake mill at the end of the third quarter. Results from this discontinued operation are excluded from those being reported, with comparative periods having been restated accordingly.

  • Cascades receives LEED Gold certification for the expansion of its Lachute plant

    Producer News, |

    3/6/2013 12:00:00 AM

    Cascades is pleased to announce that the expansion of its Tissue Group plant in Lachute, Québec, has received the coveted LEED® Gold certification. The plant is the first paper manufacturing facility to obtain LEED®-NC (New Construction) certification in the Canadian paper industry.

    The Environmental Performance Rewarded

    The 6 800 m2 expansion project of the Lachute plant received the Gold level of LEED® certification thanks to Cascades' continuous efforts to reduce its ecological footprint. This concern demonstrates the company's will to remain at the forefront of environmental protection, which concerns not only its production activities but also the continuous improvement of its buildings.

    This project was recognized for its exemplary performance regarding:

    The reduction of its drinking water consumption, evaluated at 46.57%

    The use of regional materials, with 47.08% of costs used for the purchase of materials produced and extracted locally

    The presence of certified wood, accounting for 96.36% of total cost for materials

  • Brent Crude Trades Near Four-Day High on Pipeline Halt

    Miscellaneous News, |

    3/6/2013 12:00:00 AM

    Brent crude was little changed near its highest in four days as a North Sea pipeline system remained shut. Venezuela, OPEC’s fourth-biggest producer, announced the death of President Hugo Chavez.

    Futures fluctuated, having climbed by the most in a month yesterday. Venezuelan Vice President Nicolas Maduro said on state television that Chavez died at 4:25 p.m. at a military hospital in Caracas. The Brent pipeline system has been shut since an oil leak was discovered March 2 on the Cormorant Alpha platform. U.S. crude stockpiles rose 5.6 million barrels last week, data from the American Petroleum Institute showed.

    “There’s still positive sentiment, risk appetite is still high,” said Filip Petersson, a commodities strategist at Stockholm-based bank SEB AB, who estimates that a fair value for Brent would be $105 a barrel. “There’s plenty of crude out there at the moment.”

    Brent for April settlement was at $111.21 a barrel, down 40 cents, on the London-based ICE Futures Europe exchange at 11:08 a.m. in London after advancing as high as $112.23.

  • Staples, Inc. Announces Fourth Quarter and Full Year 2012 Performance

    End User News, |

    3/6/2013 12:00:00 AM

    Staples, Inc. announced today the results for its fourth quarter and fiscal year ended February 2, 2013.

    Total company sales for the fourth quarter of 2012 were $6.6 billion, an increase of three percent compared to the fourth quarter of 2011. Excluding $461 million of sales for the 53rd week in fiscal year 2012, total company sales decreased four percent compared to the fourth quarter of 2011.

    On a GAAP basis, the company reported fourth quarter 2012 net income of $90 million, or $0.14 per share, from continuing operations attributable to Staples, Inc., compared to net income of $284 million, or $0.41 per diluted share, achieved in the fourth quarter of 2011. Excluding the impact of charges taken during the fourth quarter of 2012, the company reported non-GAAP net income from continuing operations attributable to Staples, Inc. of $308 million, or $0.46 per diluted share, compared to $284 million, or $0.41 per diluted share, achieved in the fourth quarter of 2011. Fourth quarter 2012 results on a GAAP basis include $181 million of pre-tax charges related to European store closures and restructuring, U.S. store closures and accelerated Australia tradename amortization, a $57 million pre-tax charge related to the early extinguishment of debt, as well as a $26 million pre-tax charge related to the termination of the company's existing joint venture agreement in India. The company's fourth quarter 2012 results on a GAAP basis also include pre-tax income of $83 million related to the extra week in 2012.

    For the full year 2012, total company sales decreased one percent to $24.4 billion compared to full year 2011. Excluding the favorable impact of the extra week in 2012, total company sales decreased three percent to $23.9 billion versus the prior year.

    On a GAAP basis, the company reported a net loss from continuing operations attributable to Staples, Inc. of $161 million, or $0.24 per share, compared to net income of $988 million, or $1.40 per diluted share, achieved in 2011. Excluding the impact of the charges taken during the fourth quarter of 2012 described above, as well as previously announced charges recorded during 2012 and a tax refund in 2011, the company reported non-GAAP net income from continuing operations attributable to Staples, Inc. of $936 million, or $1.39 per diluted share, during 2012, compared to $967 million, or $1.37 per diluted share, achieved during the prior year.

  • Kohl's Department Stores Opens Nine New Stores

    End User News, |

    3/6/2013 12:00:00 AM

    Kohl’s Department Stores announces the grand openings of nine new stores today, creating approximately 950 jobs nationwide and bringing the company’s store count to 1,155 stores across 49 states. Locations opening today include Decatur, Ala., Danville, Ill., Ames, Iowa, Cedar Rapids, Iowa, Minot, N.D., Sherwood, Ore., Hermitage, Pa., Spring Township, Pa. and Denton, Texas.

    “As Kohl’s continues to grow, investing in our stores remains a priority,” said Kevin Mansell, Kohl’s chairman, president and chief executive officer. “We are pleased to open nine new locations today and have plans to remodel 30 locations this year. Our stores provide an inspiring destination for customers and reinforce our commitment to delivering an exciting shopping experience through quality brands, exceptional value and convenience.”

  • Clearwater Paper to Close Thomaston, Ga., Tissue Converting Facility

    Producer News, |

    3/6/2013 12:00:00 AM

    Following a comprehensive analysis, Clearwater Paper Corporation today announced the planned permanent closure of its Thomaston, Ga., tissue converting and distribution facility. The gradual shutdown of converting equipment will occur on a schedule throughout the year, with some operations running into the first quarter of 2014, affecting a total of 150 employees.

    "This has been a difficult decision—one where the company reviewed many scenarios and alternatives to closing the plant," said Tom Colgrove, president of Clearwater Paper's consumer products division. "We have concluded that consolidating regional converting and permanently closing Thomaston was the solution to best serve the needs of our southeastern customers and improve the overall logistics of our national manufacturing network."

    Displaced Thomaston employees will be given an opportunity to apply for open positions at other Clearwater Paper facilities. In addition, the company is offering separation and incentive pay for employees who remain at Thomaston until their established final day of work. Also, the company is working closely with West Central Georgia Private Industries Council and the Economic Development Division at the Southern Crescent Technical College to assist with career transition services where needed. Clearwater Paper will integrate most of the equipment from Thomaston in its facilities at Oklahoma City and Shelby, N.C.

  • EU introduces illegal timber import controls

    Environmental News, |

    3/5/2013 12:00:00 AM

    The EU Timber Regulation (EUTR) requires importers or sellers of timber and wood products to keep records of the sources of their supplies. Interpol estimates that illegal logging contributes up to 30% of timber in the global market, costing in excess of 15bn euros ($20bn/£13bn) each year. The EU accounts for 35% of the world's primary timber consumption.

    The law, which was adopted by the European Parliament and Council back in October 2010, is only just coming into force because of the measures member states and private companies had to put in place.

    Operators, which refers to "those who first place a timber product on the EU market" - through a "due diligence" system - are required to "make every effort to ensure that the wood they trade in is legal". The due diligence system (DDS) comprises three elements, including access to information relating to shipments' country of origin, quantity and suppliers' details; evaluation that the timber was produced in compliance with the laws of the country of origin; taking additional steps to ensure the legality of the timber if there is any doubt over its provenance. In addition, the EUTR requires traders ("those who sell or buy the timber already on the EU market") to keep "adequate information so that the wood they deal in can be easily traced".

    Officials say the new law covers a wide range of products, from paper and pulp to solid wood and flooring, and forms a part of ongoing efforts to help tackle the global problem of illegal logging. Illegal logging is defined as the harvesting of wood that breaches the laws or regulations of the country of origin. The European Union says it has "severe economic, environmental and social impacts for some of the world's most valuable remaining forests and the billions of people that rely on them."

    In 2012, Interpol and the UN launched Project Leaf, an initiative to combat illegal logging and organised forest crime. In February, Interpol said almost 200 people had been arrested in a wide-ranging international anti-illegal logging operation. The global anti-crime agency added that the three-month effort spanned 12 Central and South American countries, and $8m (£5.2m) worth of timber had been seized.

  • Smurfit Kappa completes CoC certification programme

    Packaging News, |

    3/5/2013 12:00:00 AM

    Smurfit Kappa, one of the world’s largest integrated manufacturers of paper-based packaging products with operations in Europe and the Americas, is proud to announce that all relevant packaging operations in Europe are now Chain of Custody certified. This is in line with the Company’s long-term sustainability commitment and covers 19 European countries where Smurfit Kappa is present, namely:  Austria, Belgium, Czech Republic, Denmark, France, Germany, Ireland, Italy, Lithuania, the Netherlands, Norway, Poland, Portugal, Russia, Slovakia, Spain, Sweden, Switzerland and the United Kingdom.

    This ambitious programme started more than three years ago with the certification of all virgin paper mills, followed by all recycled paper mills and has concluded with every relevant packaging production operation being certified. The granting of these certificates is evidence of Smurfit Kappa’s objective to fully comply with the Forest Stewardship Council (FSC) and Programme for the Endorsement of Forest Certification (PEFC) Chain of Custody certification schemes.

    These certificates enable Smurfit Kappa to assure its customers that its packaging is produced from solely sustainable raw material. Packaging materials can now be traced and the Chain of Custody certification guarantees that no unsustainable material has entered the supply chain.

  • Quad/Graphics Reports Fourth Quarter and Full-Year 2012 Results

    Printer News, |

    3/5/2013 12:00:00 AM

    Quad/Graphics, Inc. today reported fourth quarter and full-year 2012 results that were in line with management's originally announced annual guidance with the exception of Recurring Free Cash Flow, which surpassed the Company's upwardly revised guidance. For full financial results, please see the accompanying information.

    Net sales for the fourth quarter 2012 were $1.1 billion versus $1.2 billion for the same period in 2011. Fourth quarter 2012 Adjusted EBITDA was $174 million compared to $187 million for the same period in 2011, and Adjusted EBITDA margin was 15.3% compared to 15.4% for the same period in 2011. The quarterly results reflect expected volume declines, pricing pressures on print and byproduct sales, and challenges in the book product line. Partially offsetting these impacts in the quarter were lower selling, general and administrative costs, and incremental synergy savings.

    For the full-year 2012, net sales were $4.1 billion versus net sales of $4.3 billion for the previous year. Full-year 2012 Adjusted EBITDA was $566 million compared to $618 million for the previous year, and Adjusted EBITDA margin was 13.8% compared to 14.3% for the previous year. Recurring Free Cash Flow was $375 million compared to $340 million for the previous year, continuing the Company's track record of solid cash-flow generation.

  • A. Schulman Offers To Acquire Ferro Corporation

    Packaging News, |

    3/5/2013 12:00:00 AM

    A. Schulman, Inc. announced today that it has made a proposal to the Board of Directors of Ferro Corporation (NYSE: FOE) to acquire all of the outstanding shares of Ferro common stock for per-share consideration of $6.50, representing an estimated total enterprise value of approximately $855 million including total indebtedness. The offer represents a 25 percent premium over the closing price of Ferro common stock on March 1, 2013, and a 32 percent premium over the volume-weighted average trading price over the preceding 60-day period.

    The Company said its proposed offer price of $6.50 per share includes an immediate cash payment of $3.25 for each Ferro share outstanding and $3.25 worth of A. Schulman common stock. When cost savings and synergies are fully implemented, A. Schulman estimates annual savings of $35 million over and above the previously announced Ferro targets. Based on these additional savings, A. Schulman believes that its offer presents the opportunity for significant future value to Ferro shareholders through the equity portion of the consideration. A. Schulman stated that its offer was based upon publicly available information about Ferro, which reported sales of approximately $1.2 billion through the first nine months of its fiscal year ended December 31, 2012. However, with greater visibility into Ferro's businesses, A. Schulman expects its offer could be adjusted subject to customary due diligence.

    A. Schulman expressed its "strong intent" in pursuing the combination in a letter to Ferro on February 13, 2013. Ferro's Board rejected A. Schulman's offer and expressed their belief that the company should remain independent. A. Schulman first contacted Ferro in November 2012.

    "A. Schulman and Ferro are both recognized leaders in specialty chemicals with value-added product lines, similar business models, complementary competencies, markets and applications," said Joseph M. Gingo, Chairman, President and Chief Executive Officer of A. Schulman. "We believe our combination will deliver superior value to our respective shareholders and offer better value to customers, and we would welcome the opportunity to engage in a mutually beneficial dialogue with Ferro's Board and management."

  • Lecta Confirms Price Hike for Coated Woodfree Paper

    Producer News, |

    3/5/2013 12:00:00 AM

    Lecta has informed its customers that the company will continue implementing the announced price increase of 5 - 6% on its CWF (coated woodfree) paper.

    Lecta said the price hike is the result of the high cost of its primary raw materials, transportation and energy.

    In a written statement, the company said, "After the success in the price movement in our distribution network in the southern part of Europe, Lecta confirms that price increase will be totally consolidated till end of March also in the rest of the EEA.

    "Further price increases will be needed in 2013 to recover the minimum profitability that would guarantee actual quality and service levels," Lecta added.

  • WTI Crude Rebounds From 10-Week Low; Brent Pipeline Remains Shut

    Miscellaneous News, |

    3/5/2013 12:00:00 AM

    Oil rebounded from the lowest level in 10 weeks as traders speculated recent declines may have been excessive, while a North Sea pipeline system remained shut after a platform leak.

    Both West Texas Intermediate and Brent futures rose as much as 0.6 percent. The Brent pipeline system was closed for a third day after an oil leak was discovered March 2 on the Cormorant Alpha platform, according to Abu Dhabi National Energy Co. (TAQA) PJSC, the operator known as Taqa. U.S. crude stockpiles probably increased for a seventh week, the longest stretch since May, a Bloomberg News survey showed before Energy Department data tomorrow.

    “It’s worth keeping an eye on developments at Cormorant Alpha since any prolonged disruption in the North Sea would support Brent,” said Andrey Kryuchenkov, an analyst at VTB Capital in London who predicts that Brent will trade in a range of $109 to $112 a barrel this month.

    WTI for April delivery rose as much as 58 cents to $90.70 a barrel in electronic trading on the New York Mercantile Exchange and was at $90.38 at 10:39 a.m. London time.

  • Appleton Reports Fourth Quarter and Full Year 2012 Results

    Producer News, |

    3/5/2013 12:00:00 AM

    Appleton’s 2012 net sales of $849.8 million decreased 0.9% compared to 2011 net sales of $857.3 million. Appleton’s fourth quarter 2012 net sales of $205.5 million were flat when compared to fourth quarter 2011. Adjusting for the Company’s decision to discontinue the sale of carbonless papers into certain non-strategic international markets, fourth quarter and full year 2012 net sales were up 7.9% and 3.1%, respectively. The Company’s strong revenue growth from thermal papers almost entirely offset full year 2012 revenue declines in carbonless papers and Encapsys.

    Appleton reported a 2012 operating loss of $88.5 million compared to an operating loss of $9.4 million in 2011. Excluding one-time and other items as explained below, adjusted operating income was $74.8 million, $30.0 million higher than adjusted operating income reported for 2011. Costs related to ceasing papermaking operations at the West Carrollton, Ohio facility and transitioning to Domtar base paper were $117.4 million for the year and included $28.6 million of restructuring expense, $77.4 million of other related costs and $11.4 million of transition costs.

    During fourth quarter 2012, the Company adopted mark-to-market accounting for its pension and other postretirement benefit plans whereby all gains and losses are immediately recognized in current year earnings. In addition, the Company also elected to change its method of accounting for certain costs included in inventory, whereby retiree benefit costs for former employees are excluded from inventoriable costs. Both of these accounting method changes were retroactively applied to all periods presented. The change in retiree benefits accounting resulted in a mark-to-market adjustment of $33.6 million in fourth quarter 2012 and $51.1 million in fourth quarter 2011.

  • Avery Dennison Unveils New North American Collection of Price-Neutral FSC®-Certified Label Constructions

    Packaging News, |

    3/5/2013 12:00:00 AM

    Avery Dennison Label and Packaging Materials today introduced a new collection of North American Forest Stewardship Council (FSC)-certified paper label materials. The new products’ prices are comparable with those of non-certified alternatives to drive the use of FSC-certified materials throughout the value chain.

    The new collection of FSC-certified products contains 22 specifications featuring three paper facestocks – Fasson® 54# Semi-Gloss FSC, Fasson Lightweight Dairy FSC and Fasson Estate Label®No. 8 FSC – commonly used in wine, spirits, dairy and food applications. The new offering is a result of the company’s commitment to develop and offer sustainable label and packaging solutions to converters and brand owners.

    “We have heard clearly from members of our value chain about the need for innovations that focus on improving sustainability,” said Darrell Hughes, vice president and general manager, Materials Group North America. “As a market leader, it’s our responsibility to produce and promote items that contribute to the environmental health of our planet. This price-neutral collection of select FSC-certified constructions is the next step in our effort to make our industry more sustainable.”

  • Avery Dennison Announces Responsible Paper Procurement Policy

    Packaging News, |

    3/5/2013 12:00:00 AM

    Avery Dennison Corporation announced today that it has formalized a company-wide policy to promote responsible paper sourcing and procurement. The policy will be available in the Reports and Downloads section of the company’s sustainability website.

    “As a leader in labeling and packaging materials and solutions, we recognize that we have a responsibility to help our customers and our industry become more sustainable,” said Dean Scarborough, Avery Dennison chairman, president and CEO. “Our policy will guide us in sourcing materials responsibly, using them more efficiently in our operations, and developing greener products from them.”

    Developed with the support of non-governmental organization Rainforest Alliance, Avery Dennison’s policy commits the company and its businesses to: Identify and disclose the sources of the pulp, natural fiber and paper in its labeling and packaging materials and solutions; Help ensure that its suppliers follow sustainable forest management practices; Evaluate and reward sound environmental performance on the part of its supply chain partners; Seek to maximize its use of recycled content and fiber sourced from Forest Stewardship Council-certified forestry operations; Work to avoid controversial fiber sources.

    Avery Dennison is working with external certification experts, including Rainforest Alliance, to assess the potential risk to the company’s supply chain of illegal timber or irresponsibly harvested fiber and develop systems and procedures for documenting, verifying and reporting supplier performance.

  • The Yankee Candle Company, Inc. Reports Fiscal 2012 Fourth Quarter and Full Year Results

    End User News, |

    3/4/2013 12:00:00 AM

    Yankee Holding Corp. and The Yankee Candle Company, Inc. today announced financial results for the fourth quarter and full year ended December 29, 2012.  Yankee Holding Corp., a direct subsidiary of YCC Holdings LLC, is a holding company that was formed in connection with the Company's Merger with an affiliate of Madison Dearborn Partners, LLC on February 6, 2007 (the "Merger"), and is the parent company of The Yankee Candle Company, Inc.

    Net sales for the fourth quarter of 2012 were $342.1 million as compared to net sales of $316.6 million during the fourth quarter of 2011, an increase of $25.5 million or 8.1%.  Retail sales were $234.4 million for the fourth quarter of 2012 as compared to $216.5 million during the fourth quarter of 2011, an increase of $17.9 million or 8.3% from the prior year fourth quarter. Sales from the Company's Wholesale segment were $64.0 million, a decrease of $2.4 million or 3.7% versus the prior year fourth quarter.  Sales in the Company's International segment were $43.7 million, an increase of $10.0 million or 29.7% from the prior year fourth quarter. 

    The Company recorded net income of $61.1 million, or 17.9% of net sales for the fourth quarter of 2012 compared to net income of $54.8 million, or 17.3% of net sales for the fourth quarter of 2011.

  • Verso CFS Price Increase

    Producer News, |

    3/4/2013 12:00:00 AM

    Effective with all orders shipping on or after April 1, 2013, Verso Paper Corp. is increasing the transaction price of all Coated Freesheet grades.

    The increase applies to all Coated Freesheet grades, including but not limited to the following brands: Influence® $2.50/cwt ($50/short ton); Velocity® $2.50/cwt ($50/short ton)

    All grades, basis weights, bulks and finishes.

  • Twin Rivers Paper Company Releases Acadia® Laminating

    Packaging News, |

    3/4/2013 12:00:00 AM
    Twin Rivers Paper Company, a leader in lightweight specialty packaging, label and publishing papers, expands its specialty packaging options with the release of a high performance laminating base paper, Acadia Laminating. This uncoated, machine-finished paper is engineered to deliver optimal uniformity and smoothness to perform under the most demanding laminating conditions. Available in a broad range of basis weights, it is ideal for foil-laminated applications such as candy bars, bags, hamburger wraps, sandwich wraps and gift wraps.
     
    “We recognize the importance of having a rich product portfolio and giving our customers more options for their converting or end-use applications. Acadia Laminating is one of the many packaging options we will be launching in 2013,” says Dave Deger, Director of Business Development and Marketing at Twin Rivers Paper Company.
  • The Newark Group to Hike Price for All Coated Grades of Recycled Paperboard

    Packaging News, |

    3/4/2013 12:00:00 AM

    The Newark Group announced a $40 per ton price increase on all coated grades of recycled paperboard effective with shipments on or after April 2, 2013.

    “The increase is necessary due to the escalating costs of raw materials, freight and energy,” said Raymond Vargo, Jr., Vice President of Sales, Newark Paperboard Mills.

  • Study: Men's Mags May Be Bad For Men

    End User News, |

    3/4/2013 12:00:00 AM
    What do Fortune, Wired and Field & Stream have in common? They’re all read mostly by men, and contain large numbers of ads that may contribute to “hyper-masculinity,” leading to “troubling behavior in young men,” according to a new study just published in Sex Roles, an academic journal.
     
    The researchers, led by Megan Vokey, a Ph.D. candidate from the University of Manitoba, tracked advertising in eight magazines with a primarily male audience, scoring each ad on four components: Toughness, violence, dangerousness and callous attitudes toward women and sex. The authors found that these “hyper-masculine depictions” were common in all titles, regardless of age or earnings.
     
    At least one of these four attributes was found in 56% of the total sample, while in some magazines, it was as many as 90%. But titles aimed at younger, less affluent readers were more likely to contain such ads. Game Informer, Playboy and Maxim had the most; Fortune and Golf Digest the least.
     
    Ads with either a sexual or violent tone were less common. “Masculine ideology valuing toughness and danger may be more accepted generally by men than are overt violence and callousness towards women and sex,” the authors say. Other studies have linked hyper-masculinity with such problems as “dangerous driving, drug use and violence towards women.” 
     
    Increasingly, academic researchers are examining the impact ads can have on public health issues ranging from obesity to anorexia to binge drinking. Sometimes, as in the case of food marketing to children, the result has been stepped-up regulations.
  • Ilim Group’s New Paper Machine at Koryazhma produces First Paper

    Producer News, |

    3/4/2013 12:00:00 AM

    On the 3rd of March in Koryazhma, Arkhangelsk oblast, Ilim Group’s new paper machine build as a part of Big Koryazhma investment project made paper for the first time.

    During the coming weeks, Ilim Group’s specialists, supported by experts from International Paper and representatives of equipment suppliers, will be working together to bring the machine up to full production, and help it meet all of the product quality parameters.

    New high quality office and offset paper – will soon enter Russian market.

    Big Koryazhma is a project is an investment of $270 million, involving construction of a new paper machine, installation of an off-machine coater, installation of cut-size and folio sheeters, construction of precipitated calcium carbonate (PCC) plant and implementation of infrastructure projects. Construction of a new paper machine in Koryazhma started in summer of 2011 at the production site of Ilim Group Branch in Koryazhma. As a result of the project Russia's most advanced state-of-the-art paper machine has started operations and will produce more than 150,000 tons per year of office paper. In summer of 2013 the company will start producing 70,000 tons of coated paper per year to make Ilim Group Russia's first and only manufacturer of this product. The project was approved by Ilim Group's Board of Directors on June 30, 2010. The Ministry of Industry and Trade of the Russian Federation has given this project priority status.

  • Chico's FAS, Inc. Reports Earnings Per Share Increase of 27% in Fourth Quarter and 32% in Fiscal 2012

    End User News, |

    3/4/2013 12:00:00 AM

    Chico's FAS, Inc. today announced its financial results for the fiscal 2012 fourth quarter and fiscal year ended February 2, 2013. The Company also provided its outlook.

    For the fourteen-weeks ended February 2, 2013 (the fourth quarter), when excluding non-recurring acquisition and integration costs related to the Boston Proper acquisition, the Company reported net income of $32.7 million, an increase of 29.8% compared to net income of $25.2 million in last year's thirteen-week fourth quarter, and earnings per diluted share of $0.20, an increase of 33.3% compared to $0.15 per diluted share in last year's fourth quarter. Including non-recurring acquisition and integration costs, the Company reported net income of $31.5 million, an increase of 25.6% compared to net income of $25.1 million in last year's fourth quarter, and earnings per diluted share of $0.19, an increase of 26.7% compared to $0.15 per diluted share in last year's fourth quarter. These results represent the highest fourth quarter earnings per share since 2005.

    For the fifty-three weeks ended February 2, 2013 (fiscal 2012), when excluding non-recurring acquisition and integration costs, the Company reported net income of $182.2 million, an increase of 26.1% compared to net income of $144.4 million for the fifty-two week year ended January 28, 2012 (fiscal 2011), and record earnings per diluted share of $1.09, an increase of 29.8% compared to $0.84 per diluted share in fiscal 2011. Including non-recurring acquisition and integration costs, the Company reported net income of $180.2 million, an increase of 27.9% compared to net income of $140.9 million in fiscal 2011, and earnings per diluted share in fiscal 2012 of a record $1.08, an increase of 31.7% compared to $0.82 per diluted share in fiscal 2011.

  • WTI Oil Futures Decline to Trade Near $90 a Barrel

    Miscellaneous News, |

    3/4/2013 12:00:00 AM

    West Texas Intermediate crude fell to trade near $90 a barrel after money managers cut bets on rising prices.

    Futures retreated for a third day in New York after sliding to a 10-week low on March 1. Net-long positions in WTI dropped 16 percent, according to data from the Commodity Futures Trading Commission. Services industries in China expanded at the slowest pace in five months in February, a survey of purchasing managers showed yesterday.

    “Oil is going to remain under pressure for a while yet,” said Christopher Bellew, a senior broker at Jefferies Bache Ltd. in London, who correctly predicted last month that prices were set to drop. “When prices were strong last month there was an influx of fresh speculative buying, and the opposite is happening now.”

    WTI for April delivery fell as much as 59 cents to $90.09 a barrel in electronic trading on the New York Mercantile Exchange. It was at $90.51 at 11:33 a.m. London time.

  • Bertelsmann Acquires Full Ownership of Music Company BMG

    End User News, |

    3/4/2013 12:00:00 AM

    Bertelsmann, the international media group, is taking full ownership of the innovative music rights management company BMG by acquiring the shares currently held by Kohlberg Kravis Roberts & Co. (KKR), and will continue to develop BMG as a wholly owned subsidiary. The transaction, which is subject to regulatory approval, is scheduled to close during the first half of this year. The parties have agreed to keep the financial details of the transaction confidential. BMG administers the rights to more than one million songs, including works by such artists as Bruno Mars, Duran Duran, Gossip, Johnny Cash, and Will.i.am. It also represents the master rights (composition and recording) of artists who include Brian Ferry, Nena and Anastacia.

    Bertelsmann Chairman & CEO Thomas Rabe said: “This is a great day for Bertelsmann: We are bringing the music home to our group. A few years after our exit from the traditional music business, in association with KKR, we have succeeded in building the world's fourth-largest music rights management business.” Rabe emphasized that KKR has been a good partner. “Our partnership made it possible for BMG to take advantage of consolidation opportunities and to rapidly advance the organic expansion of the business. I thank them for an excellent collaboration.”

  • Barnes & Noble Reports Fiscal 2013 Third Quarter Financial Results

    End User News, |

    3/4/2013 12:00:00 AM
    Barnes & Noble, Inc. today reported sales and earnings for its fiscal 2013 third quarter ended January 26, 2013.
     
    Third quarter consolidated revenues were $2.2 billion, a decrease of 8.8% as compared to the prior year.  Third quarter consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) were $55 million, as compared to $150 million a year ago. Third quarter consolidated net losses were $6.1 million, as compared to net earnings of $52 million a year ago.  Third quarter results were adversely impacted by NOOK inventory charges and promotional allowances discussed below in the NOOK section.  Third quarter net losses were $0.18 per share, which includes the impact of the dividend on redeemable preferred shares, as compared to net earnings of $0.71 per share a year ago.
     
    On January 23, 2013, the company announced the completion of its strategic partnership with Pearson, which invested $89.5 million in NOOK Media LLC for preferred membership interests representing a 5% equity stake.  Following the closing of the transaction, Barnes & Noble now owns approximately 78.2% of the NOOK Media subsidiary and Microsoft, which also holds preferred membership interests, owns approximately 16.8%.
     
    The company ended the third quarter with cash of $214 million and no borrowings under its $1 billion Revolving Credit facility, as compared to a net debt position of $74 million a year ago.
  • Arjowiggins graphic launches the innovative 100% recycled High speed inkjet paper portfolio

    Producer News, |

    3/4/2013 12:00:00 AM

    Arjowiggins Graphic has announced the launch of its Innovative 100% recycled High speed Inkjet paper portfolio, a range of OEM qualified and sustainable products designed to run on all Inkjet digital presses including the latest generation of machines. Once again Arjowiggins Graphic meets market demand and continues to lead industry innovation with an exciting new range of 100% recycled papers, engineered specifically for inkjet colour printing.

    “This Inkjet Portfolio complements the rest of our digital product offering. We see this product range as an innovative and alternative solution for printers and their Corporate clients. These specially engineered, premium quality web inkjet papers are already creating profitable new markets in transpromo and direct mail, with increasing commercial print applications,” said Jean Charles Monange, sales and marketing director, Arjowiggins Graphic.

    The Cocoon and Cyclus Jet families provide a unique combination of high quality performance at full press speed and Improve color depth in combination with ink consumption reduction.

  • Arctic Paper Group in 2012: increased revenue and share of mature European market, expansion of Arctic Paper Group

    Producer News, |

    3/4/2013 12:00:00 AM

    Arctic Paper S.A., the second-largest European producer of bulky book paper by volume and one of Europe’s leading producers of high-quality graphic paper, generated revenue through four quarters of 2012 of over PLN 2.6bn, or 2.9% higher than in 2011. Excluding the costs of the one-off events of the listing on NASDAQ OMX in Stockholm and the tender offer for shares of the Swedish company Rottneros AB, the group’s EBITDA in 2012 was almost PLN 32.6m, or 17.2% higher than the year before, while net profit was 132.6% higher than in 2011, at almost PLN 28.1m.

    Despite continuing weak demand for high-quality paper in Europe, in 2012 the company increased its sales volume by 23,000 tonnes, or 3.1%, over 2011, thus increasing its share of the mature market in spite of the fairly difficult situation in the industry. Utilization of the company’s production capacity in 2012 as a whole was at the high level of 96%.

    In 4Q 2012, sales revenue fell from the 3rd quarter, but this phenomenon is typical for the end of each calendar year, in connection with the limited demand for graphic paper in the last three weeks of the year. Sales revenue was PLN 615m, more than 8% lower than in 3Q 2012 and in 4Q 2011. On an annual basis sales revenue increased by 2.9%, to PLN 2.6bn.

    In 2012, the Arctic Paper Group increased its sales volume over 2011 levels by more than 23,000 tonnes, or 3.1%, which, with declining sales volumes in Europe, meant that the group increased its market share.

  • American Forest & Paper Association Releases January 2013 Printing-Writing Paper Report

    Producer News, |

    3/4/2013 12:00:00 AM

    The American Forest & Paper Association has released its January 2013 Printing-Writing Paper Report.
     
    According to the report, total printing-writing paper shipments were down 3 percent from January 2012.

    Additional key findings:
    •January shipments of coated free sheet (CFS) papers increased in 5 percent compared to January 2012, the third year-over-year increase in the past four months.
    •Uncoated free sheet (UFS) papers shipments of 766,300 tons in January were 3 percent below the same period last year.
    •January uncoated mechanical (UM) paper shipments decreased 10 percent when compared to January 2012.
    •January shipments of coated mechanical (CM) decreased 9 percent compared to January 2012 to 255,900 tons.

  • Best Buy Reports Fourth Quarter and Fiscal Year Results

    End User News, |

    3/4/2013 12:00:00 AM

    Best Buy Co., Inc. today announced results for the 13-week fourth quarter (“Q4 FY13”) and 53-week fiscal year ended February 2, 2013 (“FY13”), as compared to the 13-week fourth quarter (“Q4 FY12”) and the 52-week fiscal year ended January 28, 2012 (“FY12”). In FY13, the extra week occurred during the first quarter.

    Domestic revenue of $12.55 billion declined 0.3% versus last year. This decline was driven by the loss of revenue from 49 big box stores that were closed earlier in the year, but was substantially offset by a positive 0.9% comparable store sales increase and incremental revenue from 126 additional Best Buy Mobile stand-alone stores. It is important to note, however, that comparable store sales in the quarter benefitted from an estimated 35 basis points due to a calendar shift in this year’s “pre-Super Bowl” sales from Q1 FY14 to Q4 FY13.

    Domestic online sales increased 11.2%, reaching a record $1.3 billion as momentum accelerated throughout the quarter. Highly effective “traffic-generating” marketing initiatives drove these better-than-expected results.

  • Gap Inc. Reports Fourth Quarter Earnings Per Share Increase of 66 Percent

    End User News, |

    3/4/2013 12:00:00 AM

    Gap Inc. today reported fourth quarter and full year results for fiscal year 2012 and provided guidance for fiscal year 2013. Improved product performance and continued global expansion helped drive an 8 percent increase in net sales for the full year. The company reported earnings per share for the 53 weeks ended February 2, 2013 increased 49 percent to $2.33 on a diluted basis, compared with $1.56 for the 52 weeks ended January 28, 2012.

    “Our results in 2012 were stellar in many ways, and I’m very pleased with how well our product resonated with customers,” said Glenn Murphy, chairman and chief executive officer of Gap Inc. “We enter 2013 focused on leveraging our global brands to gain more market share and continuing to increase shareholder value.”

  • Limited Brands Reports Fourth Quarter and Earnings

    End User News, |

    3/4/2013 12:00:00 AM

    Limited Brands, Inc. today reported 2012 fourth quarter and full-year results.

    Adjusted earnings per share for the 14-week fourth quarter ended Feb. 2, 2013, which exclude certain significant items as detailed below, were $1.76 compared to $1.50 for the 13-week fourth quarter ended Jan. 28, 2012.  Fourth quarter adjusted operating income was $907.8 million compared to $786.5 million last year, and adjusted net income was $519.2 million compared to $459.2 million last year.

    Including the significant items below, reported fourth quarter earnings per share were $1.39 compared to $1.17 last year; operating income was $787.8 million compared to $641.1 million last year; and net income was $411.4 million compared to $359.4 million last year.

  • J.C. Penney Company Reports 2012 Fiscal Fourth Quarter and Full Year Results

    End User News, |

    3/4/2013 12:00:00 AM

    J. C. Penney Company, Inc. today announced financial results for its fiscal fourth quarter and full year ended February 2, 2013.  For the quarter, jcpenney reported a net loss of $552 million or $2.51 per share.  Excluding restructuring and management transition charges and non-cash primary pension plan expense, the Company's adjusted net loss for the quarter was $427 million or $1.95 per share. 

    For the year, jcpenney reported a net loss of $985 million or $4.49 per share.  Excluding markdowns related to the alignment of inventory with the Company's new strategy, restructuring and management transition charges, non-cash primary pension plan expense and the net gain on the sale or redemption of non-operating assets, the Company's adjusted net loss for the year was $766 million or $3.49 per share.

  • Cenveo Announces Fourth Quarter and Full Year 2012 Results

    Printer News, |

    3/4/2013 12:00:00 AM

    Cenveo, Inc. today announced results for the three months and full year ended December 29, 2012.

    The Company generated net sales of $451.8 million for the three months ended December 29, 2012, compared to $486.5 million for the same period last year. The Company generated net sales of $1.8 billion for the year ended December 29, 2012, compared to $1.9 billion for the prior year. The decrease in net sales was primarily due to lower sales in our print and envelope product lines as a result of lower direct mail volumes from our financial services customers, the closure and consolidations of a print plant and two envelope plants and our decision to exit certain low margin business. Net sales from our label and packaging business lines decreased slightly for the fourth quarter and full year of 2012 due to our decision to exit low margin business within those platforms, which has been offset largely by our e-commerce initiatives and new account wins in our packaging business.

    Operating income was $34.0 million for the three months ended December 29, 2012, compared to $39.0 million for the same period last year. The decrease in operating income was primarily due to lower sales, lower byproduct recoveries and increased pension expense, offset in part by lower compensation-related expenses. Non-GAAP operating income was $41.6 million for the three months ended December 29, 2012, compared to $46.7 million for the same period last year. For the year ended December 29, 2012, operating income was $112.2 million, compared to $117.8 million for the prior year. The decrease in operating income was primarily due to increased restructuring, impairment and other charges as a result of the closure and consolidations of a print plant and two envelope plants along with other cost savings actions, lower sales, lower byproduct recoveries and increased pension expense, offset in part by our lower cost structure due to the integration of our Envelope Product Group acquisition and lower compensation-related expenses. For the year ended December 29, 2012, non-GAAP operating income was $151.9 million, compared to $157.2 million for the prior year. Non-GAAP operating income excludes integration, acquisition and other charges, stock-based compensation provision, and restructuring, impairment and other charges.

  • Quad/Graphics Reports Preliminary Fourth Quarter and Full-Year 2012 Results

    Printer News, |

    2/27/2013 12:00:00 AM

    Quad/Graphics, Inc. today reported preliminary unaudited fourth quarter and full-year 2012 results in advance of management's attendance at the 2013 Baird Business Solutions Conference in New York City on February 27, 2013. For reconciliation of Adjusted EBITDA and Recurring Free Cash flow to U.S. generally accepted accounting principles (GAAP) measures, please see the accompanying information.

    Highlights of expected results for Fourth Quarter and Full-Year 2012:
    Net sales expected to be $1.1 billion in the fourth quarter and $4.1 billion for the full-year 2012.
    Adjusted EBITDA expected to be $174 million in the fourth quarter and $566 million for the full-year 2012.
    The Company expects to generate $375 million in full-year Recurring Free Cash Flow, surpassing increased revised guidance of $340 million, partially benefitted by $15 million in lower capital expenditures that moved from 2012 into 2013.
    In 2012, the Company repaid $120 million in debt, maintaining its year-end leverage of 2.39x within the targeted range of 2.0x to 2.5x.

    “Despite ongoing economic and industry challenges in 2012, we expect our fourth quarter and full-year 2012 results to be in line with our previously discussed expectations,” said Joel Quadracci, Quad/Graphics Chairman, President & CEO. “During the fourth quarter, we paid a $2 special dividend and announced an increase in our regular 2013 quarterly cash dividend by 20% to $0.30 per share. In early 2013, we completed the Vertis Holdings, Inc., acquisition, which is a natural and strategic fit. We believe all of these activities added value for our shareholders, and were made possible by our strong focus on generating Recurring Free Cash Flow and maintaining a strong balance sheet, while simultaneously paying down debt.”

  • "End Of An Error": Variety.com Goes Free this Friday

    End User News, |

    2/27/2013 12:00:00 AM

    Amidst a sea of online competition that includes Hollywood Reporter, TheWrap and Deadline Hollywood, the grandfather of media trade publications is changing its model to keep pace. On Friday March 1, Variety.com will lower its paywall as it begins a new chapter of the century-old trade’s history. CEO of owner Penske Media, Jay Penske said of the move at the Variety site, “Internally, we’ve been referring to the paywall dropping as ‘the end of an error.’ It was an interesting experiment that didn’t work.”

    New hires and promotions for the Penske-owned publication will navigate these new waters. A trio of editors-in-chief has been installed by CEO Jay Penske and new Variety publisher Michelle Sobrino (left). Claudia Eller, most recently of the Los Angeles Times, Cynthis Littleton, recent Variety deputy editor, and Andrew Wallenstein, recent TV editor, will share the duties across print and digital platforms. The company is quick to point out that for the first time in the brand’s history women are in a leadership role. The three-part editorial team is designed to bring comprehensive expertise of film, TV and digital media together for tighter collaboration and cross-platform focus.
     
    While online content will go free, Variety claims to be committed to its paid print publication, which will bow a new weekly format on March 26. The daily Variety newspaper will cease publication with the March 18 issue. The company s planning an ambitious schedule of special editions throughout the year, highlight key industry issues like violence in media.

  • Boise Inc. Reports Financial Results for Fourth Quarter and Year End 2012

    End User News, |

    2/27/2013 12:00:00 AM

    Boise Inc. today reported net income of $13.5 million, or $0.13 per diluted share, for fourth quarter 2012, compared with net income of $16.3 million, or $0.15 per diluted share, for fourth quarter 2011. Net income for the year ended 2012 was $52.2 million, or $0.52 per diluted share, compared with $75.2 million, or $0.70 per diluted share, for the year ended 2011. Net income excluding special items for the year ended 2012 was $71.6 million, compared with $79.9 million for the year ended 2011.

    EBITDA excluding special items(1) was $78.7 million for fourth quarter 2012, compared with EBITDA excluding special items of $85.0 million for fourth quarter 2011. EBITDA excluding special items was $331.8 million for the year ended 2012, versus our record 2011 EBITDA excluding special items of $340.2 million.

  • WTI Crude Rebounds From 2013 Low; Iran Talks End Without Deal

    Miscellaneous News, |

    2/27/2013 12:00:00 AM

    West Texas Intermediate rose from its lowest level this year. World powers and Iran ended two days of talks without agreement on the country’s nuclear program.

    Futures gained as much as 0.5 percent. Iranian nuclear negotiator Saeed Jalili said negotiations with the U.S. and its partners will resume next month in Istanbul as discussions in Almaty, Kazakhstan, concluded. Americans and others made no offer to ease oil or financial sanctions on Iran, said a U.S. official, asking not to be identified. Crude inventories climbed by 904,000 barrels last week to 373.4 million, the highest level since December, the American Petroleum Institute said yesterday.

    “Although there are promises for another round of talks and statements on both sides seem to be putting a positive spin to the talks, there was no deal done,” said Amrita Sen, chief oil market strategist at consultant Energy Aspects Ltd. in London.

    WTI for April delivery was at $92.86, up 23 cents at 10:49 a.m. London time in electronic trading on the New York Mercantile Exchange.

  • American Forest & Paper Association Releases January 2013 Kraft Paper Sector Report

    Packaging News, |

    2/27/2013 12:00:00 AM

    The American Forest & Paper Association released its January 2013 Kraft Paper Report on Feb. 22.

    Total Kraft paper shipments were 140.5 thousand tons, an increase of 19 percent compared to the prior month. Bleached Kraft paper shipments increased year-over-year 17 percent, and unbleached Kraft paper shipments increased 7 percent year-over-year. As a result, total Kraft paper shipments begin the year 9 percent higher than 2012. Total month-end inventory decreased 14 percent to 73.5 thousand tons this month compared to December 2012 month-end inventories.

  • American Forest & Paper Association Releases January 2013 Paperboard Statistics Report

    Packaging News, |

    2/27/2013 12:00:00 AM

    The American Forest & Paper Association has released its January 2013 U.S. Paperboard Report. 

    Total boxboard production increased by 0.9 percent compared to January 2012 and increased 1.7 percent from last month. Unbleached Kraft Boxboard production increased over the same month last year and increased compared to last month. Total Solid Bleached Boxboard & Liner production decreased compared to January 2012 and decreased compared to last month. The production of Recycled Boxboard increased compared to January 2012 and increased when compared to last month.

  • American Forest & Paper Association Releases January 2013 Containerboard Statistics Report

    Packaging News, |

    2/27/2013 12:00:00 AM

    The American Forest & Paper Association has released its January 2013 U.S. Containerboard Statistics Report. 

    Containerboard production rose 1.7 percent over December 2012 and 3.5 percent over the same month last year. The month-over-month average daily production increased 1.7 percent. The containerboard operating rate for January 2013 gained 1.3 points over December 2012, from 95.8 percent to 97.1 percent.

  • Port Alberni mill reaches 10-year year milestone as supplier for Rolling Stone Magazine

    Producer News, |

    2/27/2013 12:00:00 AM
    Catalyst Paper's Port Alberni mill is marking 10 years as the supplier of coated mechanical paper for Rolling Stone Magazine, Wenner Media's flagship publication. As the only producer of coated mechanical paper in Western North America, Catalyst's Port Alberni mill also supplies paper for the popular Men's Journal, and the Westcoast edition of Us Weekly.
     
    Catalyst President and CEO Kevin J. Clarke paid tribute to Wenner Media and Bulkley Dunton (the company that handles Wenner's paper supply) while in Port Alberni to meet with employees, City officials, community and business leaders.
     
    "We have an excellent relationship and a shared commitment to being great partners. The titles they publish on our paper have great name recognition and having a long-standing anchor account helps grow additional coated business because people can see our paper in print, not only on a roll or in a sample pack," said Mr. Clarke.
     
    With a total coated mechanical capacity of 223,000 tonnes, Catalyst produces Electracote, a coated four and Pacificote, a coated five product, on Port Alberni's No. 5 paper machine and the company's product development team is now testing the capability to make an even higher quality coated grade.
  • Target Reports Fourth Quarter and Fiscal 2012 Earnings

    End User News, |

    2/27/2013 12:00:00 AM

    Target Corporation today reported fourth quarter net earnings of $961 million, or $1.47 per share, and full-year net earnings of $2,999 million, or $4.52 per share. Adjusted earnings per share, a measure the Company believes is useful in providing period-to-period comparisons of the results of its U.S. operations, were $1.65 in fourth quarter 2012, up 10.1 percent from $1.49 in 2011. Full-year adjusted earnings per share were $4.76, up 7.9 percent from $4.41 in 2011. A reconciliation of non-GAAP financial measures to GAAP measures is provided in the tables attached to this press release. All earnings per share figures refer to diluted earnings per share.

    “We’re pleased with Target’s fourth quarter performance, particularly in the face of a highly promotional retail environment and continued consumer uncertainty,” said Gregg Steinhafel, chairman, president, and chief executive officer of Target Corporation. “Outstanding discipline and execution by our team allowed us to achieve our full-year financial and strategic goals in 2012. We believe these results position us well to deliver on significant plans in 2013, including completion of the largest store opening program in our company’s history with 124 stores in Canada and additional Target and CityTarget locations in the U.S., investing in new processes and technology that will improve our guests’ multichannel experience and closing the sale of our credit card receivables.”

  • Martha Stewart Living Omnimedia Reports Fourth Quarter and Full Year 2012 Results

    End User News, |

    2/26/2013 12:00:00 AM

    Martha Stewart Living Omnimedia, Inc. today announced its results for the fourth quarter and full year ended December 31, 2012. The Company reported revenue for the fourth quarter and full year of $56.4 million and $197.6 million, respectively.

    Dan Taitz, Interim Principal Executive Officer, said, "The Company produced higher Adjusted EBITDA for both the fourth quarter and full-year compared to the respective 2011 periods due to important actions taken to lower our cost structure and align our businesses for the future.  Merchandising delivered a strong holiday season and a good year overall with strong revenue growth and improved profit margins.  MSLO still has much work to do in 2013 as the Company positions itself to return to sustained profitability."

    Fourth Quarter 2012 Summary:  Total revenues were $56.4 million in the fourth quarter of 2012, compared to $61.7 million in the fourth quarter of 2011, due to lower revenues in the publishing and broadcasting segments, partially off-set by higher merchandising revenues.

    Total operating income for the fourth quarter of 2012 was $1.4 million, compared with a loss of $(0.04) million in the prior-year period. The fourth quarter of 2012 included $(3.5) million in charges related to the restructuring moves in our media business.  The fourth quarter of 2011 included a $(1.3) million restructuring charge related to severance costs and staffing adjustments.

    Full-Year 2012 Summary: Total revenues were $197.6 million in 2012, compared to $221.4 million in 2011.

    Total operating loss for the full-year 2012 was $(56.4) million, compared to an operating loss of $(18.6) million in 2011. Included in 2012 results were restructuring and other non-recurring charges of $(49.1) million, which included a $(44.3) million non-cash impairment charge reflecting the write-down of goodwill related to the Company's publishing segment.  Restructuring and other non-recurring charges in 2011 totaled $(5.1) million.

    Adjusted EBITDA, which excludes the aforementioned charges, was $0.5 million for 2012, compared to an adjusted EBITDA loss of $(4.0) million in the prior year.

  • Dillard’s Q4 profit up; same-store sales up for 10th straight quarter

    End User News, |

    2/26/2013 12:00:00 AM

    Dillard’s Inc. posted fourth-quarter net income of $161.4 million, up 14% over the year-ago period. It also reported its 10th consecutive quarter of same-store sales growth.

    The department store company posted quarterly net sales of $2.106 billion, up 7% from $1.970 billion during the same quarter last year. (Net sales include the operations of the company's construction business, CDI Contractors LLC of Little Rock. Excluding CDI, total merchandise sales were $2.087 billion, up 7% from $1.946 billion during the same quarter last year.)
     
    Same-store sales were up 3%.

  • Future To Launch Official Pokémon Magazine In UK

    End User News, |

    2/26/2013 12:00:00 AM
    Future, the international specialist media group and leading digital publisher, today announces its deal with The Pokémon Company International to launch Official Pokémon Magazine in the UK.
     
    On sale 20th March, Official Pokémon Magazine is the latest print launch from Future and will tap into the global Pokémon phenomenon. The magazine will be a one-stop shop for everything Pokémon, providing UK fans with the ultimate guide to all the latest Pokémon video game, TV series, film and Pokémon Trading Card Game information. The magazine will also feature activities, puzzles and competitions, and each issue will come with a Pokémon-themed cover mounted gift.
     
    With entertainment content including video games, the Pokémon Trading Card Game, a TV series broadcast on CITV, movies and toys, Pokémon is one of the most popular global children’s entertainment properties in the UK.
     
    Official Pokémon Magazine will have a print frequency of 13 issues per year and will sit within Future’s Entertainment Group which comprises film and video game titles, including Official Nintendo Magazine and its related properties. The magazine will be edited by Editor-in-Chief, Chandra Nair.
  • Girl Scouts to Sell Magazine Subs

    End User News, |

    2/26/2013 12:00:00 AM

    When Girl Scout troops knock on your door this year, they may have more than just cookies for sale.

    Magazine subscription agency M2 Media Group has entered into a licensing agreement with Girl Scouts of the United States of America to provide a new product sales program opportunity for Girl Scout councils nationwide. M2 will partner with local Girl Scout councils to provide members the opportunity to sell magazines and digital subscriptions, utilizing both an online marketplace and face-to-face sales.
     
    “Girl Scouts sell products to raise money. Obviously, the cookie sale is one of the biggest and most beloved fundraising programs in the world,” says Michael Donnarumma, vice president of sales at M2. “But Girl Scouts can now participate in magazine fundraising sales, selling to friends and family to raise money for their troops.”
     
    Donnarumma says when the Girl Scouts’ season starts in the fall—about four months before cookie sales launch—there is a great deal of money needed to get programs running. With this opt-in program, troops will now be able to sell magazines at the beginning of their season to generate start-up funds for their upcoming meetings, allowing local Girl Scout councils to generate additional revenue before the cookie-selling season.
     
    “We’ve created an online marketing program to do it in a simplistic way using the Internet,” he says. “Going door-to-door is something the Girl Scouts are cautious of in this day-and-age, which is the reason we’re utilizing technology as a method to connect with lots of people in a safe way. We’re putting together an online and landed catalog so the girls will have collateral material to sell subscriptions to family members and friends.”

  • EUROGRAPH Publishes January Monthly Statistics of the European Graphic Papers Industry

    Producer News, |

    2/26/2013 12:00:00 AM
    Total European Shipments of Graphic Papers in January were up 1% over 2012.
    Total European Shipments of Newsprint in January were up 1.2% over 2012.
    Total European Shipments of SC-Magazine in January were up 3.2% over 2012.
    Total European Shipments of Coated Mechanical Reels in January were down 3.2% vs. 2012.
    Total European Shipments of Uncoated Mechanical in January were up 4.2% over 2012.
    Total European Shipments of Coated Woodfree in January were up 1.1% over 2012.
    Total European Shipments of Uncoated Woodfree in January were up 2.8% over 2012.
  • Millinocket Great Northern Paper Buildings to be torn down to make way for industrial park

    Producer News, |

    2/26/2013 12:00:00 AM
    Most of the old Great Northern Paper Co.’s buildings will be razed as the new GNP and its parent company prep the Katahdin Avenue mill site for an industrial park, a company spokesman said Saturday.
     
    Cate Street Capital executives are keeping busy with the razing of six buildings totaling about 127,760 square feet, continuing development of a torrefied wood factory on the site, plans to start a $120 million pellet mill in Eastport next year, and the continuing success of the East Millinocket paper mill, said spokesman Scott Tranchemontagne.
     
    Work on the Katahdin Avenue campus began last fall when contractors began developing a site for a $35 million torrefied wood mill that Cate Street subsidiary Thermogen Industries LLChopes to begin building this this spring, when the ground thaws. Thermogen is also developing the Eastport project.
     
    Due to start in two weeks, the razing of the old buildings will clear space for an accompanying industrial park, Tranchemontagne said.
     
    “There is a lot going on on the campus,” Tranchemontagne said. “For the last couple of months, we have been rewiring many of the buildings and essentially dismantling power lines from some of the other buildings because they are dilapidated and we will take them down.”
     
    The No. 11 paper machine owned by the new Great Northern Paper Co. LLC, another Cate Street subsidiary, and the machine’s accompanying support structures, will remain intact. So will the E&R building, nearby administrative offices, some garages and other, smaller buildings on the site, Tranchemontagne said.
  • Oil Falls to 7-Week Low on Italian Election

    Miscellaneous News, |

    2/26/2013 12:00:00 AM

    West Texas Intermediate oil fell to the lowest level in seven weeks in electronic trading after the settlement as partial election results in Italy heightened concern that the euro-zone debt crisis may deepen.

    Prices dropped as much as 1.1 percent as U.S. stocks tumbled and the euro weakened against the dollar. Early election results showed Italy may be left with a divided parliament, spurring concern that renewed turmoil in European markets will crimp global growth. Oil also fell as U.S. Secretary of State John Kerry signaled that a diplomatic solution to a standoff over Iran’s nuclear program is possible.

    “The markets don’t like uncertainty,” said Jacob Correll, a Louisville, Kentucky-based analyst at Summit Energy Inc., which manages more than $20 billion in companies’ annual energy spending. “It’s indicative that the euro-zone crisis is not over yet and there is still a lot of headwind.”

    WTI for April delivery fell $1.02, or 1.1 percent, to $92.11 a barrel at 5:01 p.m. in electronic trading on the New York Mercantile Exchange.

  • The Home Depot Announces Fourth Quarter and Fiscal 2012 Results

    End User News, |

    2/26/2013 12:00:00 AM

    The Home Depot®, the world's largest home improvement retailer, today reported sales of $18.2 billion for the fourth quarter of fiscal 2012, a 13.9 percent increase from the fourth quarter of fiscal 2011. Comparable store sales for the fourth quarter of fiscal 2012 increased 7.0 percent, and comp sales for U.S. stores were 7.1 percent.

    Sales for fiscal 2012 were $74.8 billion, an increase of 6.2 percent from fiscal 2011. Total company comparable store sales for the year increased 4.6 percent, and comp sales for U.S. stores were 4.9 percent for the year. Excluding the 53rd week, sales for fiscal 2012 increased by 4.5 percent from fiscal 2011.

    Earnings per diluted share in fiscal 2012 were $3.00, compared to $2.47 per diluted share in fiscal 2011, an increase of 21.5 percent. These results reflect a nonrecurring charge of approximately $145 million, net of tax, or $0.10 per diluted share, associated with the China store closings. On an adjusted basis, earnings per diluted share in fiscal 2012 were $3.10, compared to $2.47 per diluted share in fiscal 2011, an increase of 25.5 percent.

  • RR Donnelley Reports Fourth-Quarter and Full-Year 2012 Results

    Printer News, |

    2/26/2013 12:00:00 AM

    R.R. Donnelley & Sons Company today reported a 2012 fourth-quarter net loss attributable to common shareholders of $849.0 million, or $4.70 per diluted share, on net sales of $2.7 billion compared to a net loss of $326.7 million, or $1.78 per diluted share, on net sales of $2.7 billion in the fourth quarter of 2011. The fourth-quarter net loss attributable to common shareholders included pre-tax net charges, primarily related to non-cash impairment, totaling $1.0 billion in 2012 and $483.9 million in 2011. The non-cash impairment charges followed our annual impairment test of indefinite-lived assets. Additional details regarding the nature of these and other items are included in the attached schedules.  

    Non-GAAP net earnings attributable to common shareholders totaled $78.1 million, or $0.43 per diluted share, in the fourth quarter of 2012 compared to $85.2 million, or $0.46 per diluted share, in the fourth quarter of 2011. Fourth-quarter non-GAAP net earnings attributable to common shareholders exclude impairment and restructuring charges, gains on pension curtailment, losses on debt extinguishment, acquisition-related expenses and certain income tax adjustments in both years, as well as contingent compensation on a prior acquisition in the fourth quarter of 2011. For non-GAAP comparison purposes, the effective tax rate increased to 33.0% in the fourth quarter of 2012 from 18.8% in the fourth quarter of 2011, primarily due to certain state tax matters in the fourth quarter of 2011. A reconciliation of GAAP net earnings attributable to common shareholders to non-GAAP net earnings attributable to common shareholders is presented in the attached schedules.

  • Macy's, Inc. Reports Its Fourth Consecutive Year of Double-Digit Growth in Earnings Per Share

    End User News, |

    2/26/2013 12:00:00 AM

    Macy’s, Inc.’s sales and earnings grew significantly in the fourth quarter and full year 2012, ended Feb. 2, 2013. The company exceeded the guidance it provided coming into 2012, and today is providing new guidance for continued growth and progress in 2013.

    “2012 was another great year in our company’s evolving story of growth. The numbers reflect our success in pursuing the right strategies, and executing them with conviction in every part of the business with a talented team we consider to be the best in retailing,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc. “We again added more than $1 billion in top-line sales growth in 2012. Comp sales rose by 3.7 percent for the year, on top of increases of 5.3 percent in 2011 and 4.6 percent in 2010. Earnings per share grew by double-digits for the fourth consecutive year. Operating cash flow continued to be strong, and we used excess cash to repurchase shares and double the dividend.

    For the 53 weeks of fiscal 2012, Macy’s, Inc. earned $3.24 per diluted share. Earnings per diluted share were $3.46 for fiscal 2012, excluding pre-tax expenses of $137 million ($87 million after tax or 21 cents per share) associated with the early retirement of outstanding debt, and $5 million in pre-tax expenses ($3 million after tax or 1 cent per share) related primarily to store closings. The $3.46 per share compares with management’s initial guidance provided at the beginning of the year for earnings per diluted share, excluding such items, to be in the range of $3.25 to $3.30 per diluted share in fiscal 2012.

    The company’s total sales for the 53 weeks of fiscal 2012 totaled $27.686 billion, up 4.9 percent from total sales of $26.405 billion in the 52 weeks of fiscal 2011. On a same-store basis – which included comparable 52-week periods this year and last – Macy’s, Inc.’s fiscal 2012 sales were up 3.7 percent. This is better than initial guidance, provided at the beginning of the year, for sales to be up by approximately 3.5 percent in 2012.

  • Saks Incorporated Announces Results for the Fourth Quarter and Fiscal Year Ended February 2, 2013

    End User News, |

    2/26/2013 12:00:00 AM

    Retailer Saks Incorporated today announced results for the fourth quarter and fiscal year ended February 2, 2013.

    The fiscal year 2012 period includes an extra week, creating a 53-week fiscal year that occurs every six years in the accounting cycle for many retailers. For fiscal 2012, the fourth quarter and fiscal year periods ended February 2, 2013 and included 14 weeks and 53 weeks, respectively. For the prior year, the fourth quarter and fiscal year periods ended January 28, 2012 and included 13 weeks and 52 weeks, respectively.

    For the 14 weeks and 53 weeks ended February 2, 2013 compared to the 13 and 52 weeks ended January 28, 2012, respectively, total sales increased 5.6% for the fourth quarter and 4.4% for the full year.

  • PPPC North American Printing & Writing Statistics - January 2013

    Producer News, |

    2/25/2013 12:00:00 AM

    Relative to the very weak trends shown in December, overall the January data was positive, though industry challenges clearly remain.

    The shipment decline moderated dramatically, utilization improved materially (month over month), net imports declined and inventories fell modestly compared to a normal small build in the month.

    Aggregate shipments were 140 basis points stronger than shown in the preliminary release and total printing and writing papers utilization was revised up by 100 basis points compared to the preliminary release.

    In terms of grades, all four posted improved trends compared to December with much narrower shipment declines and stronger utilization. Uncoated free posted a modestly unfavorable inventory development while the other three grades saw small inventory declines compared to typical builds in the month.

    Uncoated groundwood had the strongest shipment trend in the month, benefiting from a much, much easier comp. Coated groundwood had the weakest shipment trend. Uncoated free posted the strongest utilization, 200 basis points stronger than the other three grades.

  • Tetra Pak unveils packaging developments, boosting speed to market and differentiation

    Packaging News, |

    2/25/2013 12:00:00 AM

    Tetra Pak, the world leader in food processing and packaging solutions, today announces significant developments to its packaging solutions portfolio. The innovations deliver faster response times for customers in meeting changing consumer needs whilst minimising packaging equipment investment. The new packaging developments are:
     •The Tetra Evero® Aseptic One-Step Opening (OSO)
     •The TBA/19 Retrofitability Kit for Tetra Brik® Aseptic 200 and 250 Edge
     •The Tetra Pak® A3/Speed filling machine for Tetra Prisma® Aseptic for portion packs
     
    The world’s first carton bottle gets a new opening: Tetra Pak is launching a One-Step Opening on the Tetra Evero Aseptic, the world’s first aseptic carton bottle for ambient white milk. The Tetra Evero Aseptic OSO offers double safety features due to the tamper evidence ring and a neck membrane that is removed by twisting the cap. In addition to these safety features, the Tetra Evero Aseptic with OSO enables customers to offer consumers an easy to open, handle and pour from carton bottle.
     
    More for less - New differentiated package: The TBA/19 Retrofitability Kit allows customers to transform the package shape and base area on the same machine platform, a world first in the aseptic carton packaging industry. Customers with the TBA/19 filling machine for 200 Slim, 250 Base and 125 Slim will soon be able to retrofit their existing filling lines, enabling them to produce the new Tetra Brik Aseptic 200 and 250 Edge. For those with this machine who are not yet ready to invest in the Tetra Pak® A3/Compact Flex filling machine, this solution gives them the option of producing these packages for a fraction of the cost. In addition, the retrofitability kit takes less time to install than a new machine, which means products get to market faster.

    Tetra Pak® A3/Speed for Tetra Prisma Aseptic portion packs: The new Tetra Pak A3/Speed filling machine is now available for Tetra Prisma Aseptic 200 and 250 portion packs. The Tetra Pak A3/Speed iLine is the fastest line available from Tetra Pak, with a maximum production capacity of 24,000 portion packs per hour.

  • The Economist Ponders Audio-Only Subs

    End User News, |

    2/25/2013 12:00:00 AM

    One of the longest running magazines on the planet, The Economist, is listening to its readers…and its readers are also listening. The suite of audio products from the brand, including readings of the magazine articles and a series of podcasts, has proven so popular that the brand is considering audio-only subscription plans. Publisher Nick Blunden said in London last week at the Digital Media Strategies conference that a high percentage of its subscribers to the digital editions are opting to listen rather than read.
    According to a report in Journalism.co.uk, Blunden said in his keynote address that the audio capabilities of digital devices offers publishers the opportunity to “create new habits” in users.

    One habit The Economist is hoping to break is bundling. Blunden says the magazine has had some success in unbundling its various channels so that subscribers pick and pay incrementally more for multiple channels of access. While print or digital subs to the periodical cost $127 each, accessing both print and digital editions costs $165. Blunden told attendees at the conference that half of subscribers are choosing the pricier bundle while the other half are divided evenly between those who buy digital or print only. With 1.5 million subscribers, The Economist has 600,000 who access the brand also on apps.

    Blunden told the attendees that they needed to start acting more like Netflix in exploring new content models for the multi-screen era that are far removed from the legacy TV and print precedents.

  • Here’s something new: Little, Brown UK launches digital-first imprint for literary fiction

    End User News, |

    2/25/2013 12:00:00 AM

    Several publishers have launched digital-first imprints for genre titles — science fiction/fantasy, romance and so on. In these instances, books are published first as ebooks and aren’t released in print unless they take off. Until now, though, we haven’t seen a major publisher launch an e-imprint focused on new literary fiction — more serious fiction of the type that wins awards and gets major reviews.
     
    That appears to be changing with Little, Brown U.K.’s launch of Blackfriars, a digital-only imprint that will focus on new literary fiction and serious nonfiction. The Bookseller reports that the imprint will publish nine to twelve titles a year, and they’ll be eligible for submission to major literary prizes like the Man Booker Prize. The Bookseller notes:

    Digital titles are accepted by prizes including the Man Booker Prize and the Women’s Prize for Fiction, with the condition that they are published by “established” houses and made available for sale in print if the title is selected by the judges at the shortlisting or longlisting stage, respectively.

    Blackfriars’ first titles will be published in June. Two of them were previously published in the US: The Painted Girls by Cathy Marie Buchanan by Penguin’s Riverhead and Benjamin Anastas’s Too Good to be True: A Memoir by Amazon. According to The Bookseller, the “royalty rates on the titles are largely the same as those on standard combined print and e-deals.” Traditional publishers’ standard royalty on ebooks is 25 percent. (I’ve asked Blackfriars if it is paying advances, and what its ebooks will cost.)
     
    Without the promise of higher royalties, digital-first imprints are not likely to be many authors’ first choice when they consider their publishing options — especially when it comes to literary fiction, which generally has not sold as well in digital formats as genre fiction has. But imprints like Blackfriars could provide a home for books that have had a little trouble taking off, and the books will get additional marketing support from Little, Brown.

  • Cygnus Puts Ag Group on the Block

    End User News, |

    2/25/2013 12:00:00 AM

    Cygnus Business Media is putting its agriculture group up for sale, Folio: has learned. The group includes five tradeshows and two publications.

    Corporate Solutions, an acquisition advisory firm, has been retained to help secure a buyer.

    Cygnus CEO John French says in a statement that the sale will "provide us with an opportunity to improve our overall balance sheet and provide a substantial return to our ownership group."

    The assets, he says, are profitable and the group is a "discrete business." A sale would not adversely impact the other affinity groups within the company.

    The remainder of the company is not on the market.

    One obvious, but not confirmed, bidder would be Penton, which just spent $80 million on Farm Progress Companies last November. 

    UPDATE: According to French, Cygnus's balance sheet is in good shape, but after increasing interest from other parties in buying the group, and a well-performing agriculture market, the time became right to sell.

  • Brent Trades Near Four-Day High Before Iran Nuke Talks

    Miscellaneous News, |

    2/25/2013 12:00:00 AM

    Brent crude traded near the highest level in four days before international talks with Iran on its nuclear program. China increased fuel prices for the first time since September.

    Futures rose as much as 1.6 percent after gaining 0.5 percent on Feb. 22. Iran, which is under a Western embargo on its oil exports, will meet the U.S., China, France, Germany, Russia and the U.K., or the so-called P5+1 group, tomorrow in Almaty, Kazakhstan, after an eight-month lapse in negotiations. The lack of a breakthrough may mean U.S. and European Union sanctions on Iran will continue to cost the Islamic republic about $98.9 million a day in lost oil sales, data compiled by Bloomberg show.

    “Any hopes that progress might have been made between Iran and the P5+1 at their meeting this week appear to have been dashed by provocative comments from Iranian spokesmen trumpeting advances in uranium enrichment,” Nic Brown, head of commodities research at Natixis SA in London, said in an e-mailed response to questions today. The talks will probably be “another missed opportunity,” he said.

    Brent for April settlement advanced as much as $1.77 to $115.87 a barrel, the highest level since it settled at $117.52 on Feb. 19. It was at $115.84 as of 11:17 a.m. local time on the London-based ICE Futures Europe exchange.

  • Pearson 2012 Preliminary results

    End User News, |

    2/25/2013 12:00:00 AM
    Pearson accelerates global education strategy: Restructuring and investment in digital, services and emerging markets for faster growth, larger market opportunity and greater impact on learning outcomes
     
    Financial highlights*
     Sales up 5% at CER to £6.1bn (with digital and services businesses contributing 50% of sales)
     Adjusted operating profit 1% higher at £936m
     Adjusted EPS of 84.2p (86.5p in 2011)
     Operating cash flow of £788m (£983m in 2011)
     
    Market conditions and industry change
     Market conditions generally weak in developed world and for print publishing businesses; generally strong in emerging economies and for digital and services businesses.
     Continuing structural change in education funding, retail channels, consumer behaviour and content business models.
     Considerable growth opportunity in education driven by rapidly-growing global middle class, adoption of learning technologies, the connection between education and career prospects and increasing consumer spend, especially in emerging economies.
     
    Strong competitive performance
     North American Education revenues up 2% in a year when US School and Higher Education publishing revenues declined by 10% for the industry as a whole.
     International Education revenues up 13% with emerging market revenues up 25%.
     FT Group revenues up 4% with the Financial Times’ total paid print and online circulation up to 602,000; digital subscriptions exceed print circulation for the first time.
     Penguin revenues up 1%, with strong publishing performance and eBooks now 17% of sales.
  • Wausau Paper Announces Closure of Brainerd, Minnesota, Mill

    Producer News, |

    2/25/2013 12:00:00 AM

    Wausau Paper (WPP) today announced the closure of the Company’s technical specialty paper mill in Brainerd, Minnesota, to occur early in the second quarter of 2013. The closure will affect approximately 130 employees.

    Pre-tax closure charges are estimated to be $47 million, with non-cash charges, primarily related to the write-down of long-lived assets, accounting for approximately $44 million of the total. First quarter, pre-tax closure charges of approximately $36 million are expected with the remaining charges occurring over the balance of 2013. After considering income tax liabilities and the anticipated reduction in working capital, the cash impact of the closure is expected to be neutral on a cumulative basis.

    The Company recently announced its intent to strategically reposition the company to focus on its Tissue business. A range of alternatives for the divestiture of the technical specialty business have been explored. It has become clear that Brainerd will not contribute to those alternatives and the closure will significantly improve the continuing Paper segment operating results.

  • Barnes & Noble to Evaluate Sale of Retail Business

    End User News, |

    2/25/2013 12:00:00 AM
    Barnes & Noble, Inc., the leading retailer of content, digital media and educational products, today announced that its Board of Directors has received notice from Mr. Leonard Riggio, the Company’s founder, largest stockholder and Chairman of the Board, that Mr. Riggio plans to propose to purchase all of the assets of the retail business of Barnes & Noble.  Mr. Riggio’s plans with respect to a proposal are set forth in an amendment to his Schedule 13D filed today with the SEC.
     
    The process of evaluating a proposal and negotiation of any transaction will be overseen by a Strategic Committee of three independent directors: David G. Golden, David A. Wilson and Patricia L. Higgins, who is Chair of the Strategic Committee.  The Strategic Committee has selected Evercore Partners to serve as its financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP to serve as its legal advisor.
     
    There can be no assurance that the review of Mr. Riggio’s proposal or the consideration of any transaction will result in a sale of the retail business or in any other transaction. There is no timetable for the Strategic Committee’s review.  The Company does not intend to comment further regarding the evaluation of Mr. Riggio’s proposal, unless and until definitive agreements for a transaction are entered into or the Strategic Committee determines to conclude the process.
  • New SFI Vice President to Promote Forest Conservation and Broaden Engagement with the Indigenous People of North America

    Environmental News, |

    2/22/2013 12:00:00 AM

    Andrew de Vries has joined the Sustainable Forestry Initiative® as Vice President, Conservation, Indigenous and Government Relations. He will oversee the SFI® conservation program in Canada and engage Native Americans, First Nations and Metis groups both in the development and use of the SFI standard. Andrew will also work with governments in Canada and Europe to ensure inclusive forest certification related policies.

    “Andrew brings more than 20 years of wildlife conservation and natural resource management experience to SFI and will lead our forest conservation efforts in Canada,” stated Kathy Abusow, President and CEO. “His ability to work with a wide variety of forest owners and communities dependent on this valuable resource makes Andrew an excellent fit for the SFI program.”

    "I am excited to join the SFI team to continue my career by broadening SFI's engagement with the conservation and Indigenous peoples of North America", said de Vries, "SFI provides a great opportunity to do both because of its extensive network of participants and its conservation and community grants program.”

    Most recently Andrew was the Chief Biologist for the Forest Products Association of Canada (FPAC), Canada's national forest industry trade association, where he led conservation and aboriginal engagement efforts while also working on the development of government policies in these areas. Andrew has worked with a variety of conservation organizations throughout his career including universities, government agencies and environmental organizations, including those involved in the Canadian Boreal Forest Agreement. His work with Indigenous peoples includes working with Bands and Tribes at the local level on business partnerships, training and conservation opportunities as well as leading a Memorandum of Understanding between FPAC and Canada's Assembly of First Nations in 2008. Throughout his career Andrew has worked closely with each of the 3 sustainable forest management standards in place in North America.

  • Newest Sun Chemical Sustainability Report Highlights the Environmental Footprint of its Suppliers

    Environmental News, |

    2/22/2013 12:00:00 AM

    Sun Chemical released its 2012 Sustainability Report, which showcases Sun Chemical’s leadership in eco-efficiency through established data-driven metrics, as well as examples of how raw material suppliers are contributing to the company’s environmental footprint.
     
    The report describes a balanced scorecard approach that Sun Chemical uses to assess suppliers’ environmental performance and provides details about questionnaires that were sent to suppliers asking about their sustainability policies, carbon footprint emissions, the potential impact on deforestation, etc.

    The report cites two case study examples of raw material suppliers who published sustainability reports and described their contributions and practices to eco-efficiency.

    “We’re going beyond providing meaningful data that will help meet customer goals,” said Gary Andrzejewski, Sun Chemical’s Corporate Vice President of Environmental Affairs. “We are showing concrete examples of things our raw material suppliers are doing to help Sun Chemical meet and improve upon its eco-efficiency goals. It is our goal to manufacture products that help our customers better meet their environmental goals and we can only do that by ensuring our suppliers are also doing their part to contribute to sustainable practices.”

    The report shows data collected every year since 2005 from approximately 170 Sun Chemical sites in over 25 countries. The key sustainability metrics measured in the data include: energy consumption/conservation at production and non-production sites, the energy carbon footprint at the production sites, process waste reduction, water consumption, materials safety, and employee safety.

  • PaperWorks to increase prices on all Masterworks CRB grades and Masterworks URB+

    Packaging News, |

    2/22/2013 12:00:00 AM
    PaperWorks Industries, Inc. today announced price increases that will be coming into effect with shipments as of March 25, 2013, for all MasterWorks grades of coated recycled boxboard by $40 per ton, and for MasterWorks URB+ uncoated recycled boxboard by $25 per ton. This price increase is necessary to recover escalating costs including raw materials, energy, chemicals, transportation, benefits and other expenses.
     
    PWI will continue to minimize these increases with ongoing cost savings initiatives as well as provide leading quality, excellent availability and service for all their paperboard products.
     
    Customers are encouraged to contact their account manager, customer service representative or Jerry Tassone, if they have any questions regarding this increase.
  • INTERPOL's Illegal Logging and Forest Crimes Operation Results in Nearly 200 Arrests

    Environmental News, |

    2/22/2013 12:00:00 AM

    INTERPOL’s first international operation targeting large-scale illegal logging and forest crimes has resulted in almost 200 arrests as well as in the seizure of millions of dollars’ worth of timber and some 150 vehicles across Latin America.

    Operation Lead (17 September- 17 November 2012), undertaken in 12 countries in Central and South America under the auspices of INTERPOL’s Environmental Crime Programme and its Project Leaf, brought together law enforcement agencies to combat forestry crime in Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Guatemala, Honduras, Paraguay, Peru, and Venezuela.

    Under the operation, officials carried out inspections and investigations on transport vehicles, retail premises, and individuals, as well as surveillance and monitoring at ports and various transport centres.

    The resulting seizures of wood and related products during the operation are estimated to amount to more than 50,000 m3 of seized wood, equivalent to some 2,000 truckloads of timber. The total value of the seized timber is estimated at around USD 8 million.

  • Mag Bag: Dennis Publishing Invests In Padify

    End User News, |

    2/22/2013 12:00:00 AM
    Dennis Publishing, which owns The Week and Mental Floss in the U.S. and publishes U.K. titles includingMen’s Fitness and Auto Express, has invested in Padify, an app software startup.
     
    The minority stake in Padify, according to Journalism.co.uk, gives Dennis titles access to its design platform, which is currently being used to create an iPad edition for the U.K. version of Men’s Fitness. The platform allows designers to create magazine apps for a variety of devices, and also enables social sharing, bookmarking, and copying text, per the same report.
     
    Dennis app development lead Alex Watson said Padify’s platform is especially useful because designers can build apps without having to use templates, which aren’t necessarily suitable for different magazines. Watson told the Digital Media Strategies conference in London that integrating Padify is part of Dennis Publishing’s“create one publish everywhere” strategy for simplifying digital publishing workflows.
  • HP Reports First Quarter 2013 Results

    End User News, |

    2/22/2013 12:00:00 AM

    HP today announced financial results for its first fiscal quarter ended Jan. 31, 2013. First quarter GAAP diluted earnings per share (EPS) was $0.63, down from $0.73 in the prior-year period and above its previously provided outlook of $0.34 to $0.37 per share. First quarter non-GAAP diluted EPS was $0.82, down from $0.92 in the prior-year period and above its previously provided outlook of $0.68 to $0.71 per share. First quarter non-GAAP earnings information excludes after-tax costs of $373 million, or $0.19 per diluted share, related to the amortization of purchased intangible assets, restructuring charges and acquisition-related charges.

    For the first quarter, net revenue of $28.4 billion was down 6% year over year and down 4% when adjusted for the effects of currency.

  • AAA Fuel Gage & Exchange Rates

    Miscellaneous News, |

    2/22/2013 12:00:00 AM

    AAA Fuel Gage 2/22/13
    National Unleaded Regular:
    Current Average - $3.781/gallon
    Month Ago Average - $3.316/gallon
    Year Ago Average - $3.612/gallon
    Highest Recorded Average - $4.114/gallon on 7/17/08
    Diesel:
    Current Average - $4.145/gallon
    Month Ago Average - $3.898/gallon
    Year Ago Average - $3.971/gallon
    Highest Recorded Average - $4.845/gallon on 7/17/08

    Current Exchange Rates as of 2/22/13
    American Dollar to Canadian Dollar = 0.981327
    American Dollar to Chinese Yuan = 0.160373
    American Dollar to Euro = 1.318316
    American Dollar to Japanese Yen = 0.010721
    American Dollar to Mexican Peso = 0.078607

  • WTI Crude Rebounds; Set for Biggest Weekly Drop Since December

    Miscellaneous News, |

    2/22/2013 12:00:00 AM

    West Texas Intermediate rebounded from the lowest level since December, trimming the largest weekly decline in more than two months. U.S. crude stockpiles increased a fifth week, the longest stretch of gains since May.

    Futures climbed as much as 0.7 percent after German business confidence rose more than economists forecast to a 10- month high in February. Crude inventories increased 4.1 million barrels last week, the Department of Energy said yesterday. Stockpiles were forecast to gain by 2 million barrels.

    “We are seeing the market correct after the sharp drop yesterday,” Thina Saltvedt, an analyst at Nordea Bank AG, said by phone today from Oslo. “There have been some better macro- indicators from the U.S. and the euro zone too.”

    WTI for April delivery rose as much as 64 cents to $93.48 a barrel in electronic trading on the New York Mercantile Exchange and was at $93.05 at 10:06 a.m. London time. The contract fell to $92.84 yesterday, the lowest settlement since Dec. 31.

  • Abercrombie & Fitch Reports Record Sales and Strong Earnings Growth

    End User News, |

    2/22/2013 12:00:00 AM

    Abercrombie & Fitch Co. today reported preliminary unaudited fourth quarter results which reflected net income of $173.2 million and net income per diluted share of $2.15 for the fourteen weeks ended February 2, 2013, compared to net income of $19.6 million and net income per diluted share of $0.22 for the thirteen weeks ended January 28, 2012 under the retail method of accounting for inventory. Additionally, the Company reported full year net income of $263.2 million and net income per diluted share of $3.16 for the fifty-three weeks ended February 2, 2013, compared to net income of $127.7 million and net income per diluted share of $1.43 for the fifty-two weeks ended January 28, 2012 under the retail method.

    The Company also announced that it has changed its method of accounting for inventory from the retail method to the cost method effective in the fourth quarter.

    Under the cost method of accounting for inventory, the Company reported net income of $157.2 million and net income per diluted share of $1.95 for the fourteen weeks ended February 2, 2013, compared to restated net income of $45.8 million and restated net income per diluted share of $0.52 for the thirteen weeks ended January 28, 2012. Under the cost method, the Company reported net income of $237.0 million and net income per diluted share of $2.85 for the fifty-three weeks ended February 2, 2013, compared to restated net income of $143.9 million and restated net income per diluted share of $1.61 for the fifty-two weeks ended January 28, 2012.

  • Nordstrom Reports Fourth Quarter and Fiscal Year 2012 Earnings

    End User News, |

    2/22/2013 12:00:00 AM

    Nordstrom, Inc. today reported a 26 percent increase in earnings per diluted share of $1.40 for the fourth quarter ended February 2, 2013 compared to $1.11 per diluted share for the same quarter last year. Net sales in the fourth quarter were $3.6 billion, an increase of 13.5 percent compared with net sales of $3.2 billion during the same period in fiscal 2011. Net earnings of $284 million increased 20 percent compared with net earnings of $236 million for the same quarter last year.

    In fiscal year 2012, the Company achieved record sales and earnings while making significant investments to improve the customer experience in store and online. For the third consecutive year, the Company achieved double-digit growth in annual net sales and earnings per diluted share and same-store sales increases in the high single-digit range.

    Similar to many other retailers, Nordstrom follows the retail 4-5-4 reporting calendar, which included an extra week in the fourth quarter of fiscal 2012 (the 53rd week). In the 53rd week, the Company had net sales of approximately $162 million, representing an approximate $0.04 increase to earnings per diluted share for both the quarter and fiscal year. The 53rd week is not included in same-store sales calculations.

    FULL YEAR RESULTS
    Nordstrom achieved record net sales of $11.8 billion, which represented an increase of 12.1 percent compared with prior year net sales of $10.5 billion. Full year same-store sales increased 7.3 percent, on top of last year’s same-store sales increase of 7.2 percent.

    Net earnings of $735 million increased 7.7 percent compared with net earnings of $683 million for fiscal year 2011.

    Return on invested capital (ROIC) for the 12 months ended February 2, 2013 was 13.9 percent, which increased from 13.3 percent in the prior 12-month period due primarily to the growth in earnings.

  • Valassis Announces Results for the Fourth Quarter and Full Year Ended Dec. 31, 2012

    Printer News, |

    2/22/2013 12:00:00 AM

    Valassis today announced financial results for the fourth quarter and full year ended Dec. 31, 2012. Fourth-quarter 2012 revenues were $579.4 million, a decrease of 2.7% from $595.3 million in the prior year quarter. Full-year 2012 revenues were $2,162.1 million, a decrease of 3.3% from $2,236.0 million in full-year 2011. The decrease in revenues was primarily due to a shortfall in shared mail volume, a decline in the  Neighborhood Targeted segment and consumer packaged goods (CPG) clients' spend patterns, which negatively influenced multiple business segments.

    Fourth-quarter 2012 net earnings were $34.1 million, flat from $34.3 million in the prior year quarter. Fourth-quarter 2012 diluted earnings per share (EPS) was $0.85, an increase of 11.8% from $0.76 in the prior year quarter due to a lower share base as a result of share repurchases. Fourth-quarter 2011 net earnings and diluted EPS were negatively impacted by charges in an aggregate amount of $14.0 million ($8.5 million, net of tax) and $0.19, respectively, primarily related to the restructuring of certain non-core businesses and the associated costs including write-offs of impaired assets, as well as the early termination of leases and severance costs. 

    Full-year 2012 net earnings were $119.0 million, an increase of 4.9% from $113.4 million for full-year 2011. Full-year 2012 adjusted net earnings* were $124.7 million, which excludes $10.7 million of restructuring charges and asset impairments resulting from the exit of the newspaper polybag advertising and sampling and solo direct mail businesses and other non-recurring costs, net of tax, and a tax benefit of $5.0 million related to the reversal of certain tax reserves. Full-year 2011 adjusted net earnings* were $133.5 million, which excludes debt refinancing costs of $11.6 million, net of tax, and the restructuring and related charges described above of $8.5 million, net of tax. Full-year 2012 adjusted net earnings* decreased 6.6% from full-year 2011.

  • Neenah Paper Fourth Quarter and Full Year Results

    Producer News, |

    2/21/2013 12:00:00 AM
    Neenah Paper, Inc. today reported earnings from continuing operations for the fourth quarter of 2012 of $0.55 per diluted common share compared with earnings of $0.47 per diluted share in the fourth quarter of 2011. After excluding $0.05 per share ($1.5 million pre-tax) of costs incurred in 2012 for integration of acquired fine paper brands and the early redemption of bonds, adjusted earnings per share in the fourth quarter of 2012 of $0.60 increased 28 percent compared with the prior year period.
     
    Net sales of $192.6 million in the fourth quarter of 2012 grew 16 percent compared with $165.5 million in the fourth quarter of 2011. Increases resulted primarily from growth in Fine Paper due to acquired brands, as well as higher Technical Products and Other sales. Consolidated operating income of $15.9 million ($17.4 million adjusted) in the fourth quarter of 2012 increased 28 percent on an adjusted basis as a result of the higher sales and lower manufacturing costs.
     
    For the full year, 2012 net sales of $808.8 million increased 16 percent compared with $696.0 million in 2011. Adjusted operating income of $80.3 million in 2012 increased 36 percent compared with 2011, while 2012 adjusted earnings per diluted share of $2.78 increased 46 percent from $1.91 in 2011. Adjusted earnings is a non-GAAP measure and is reconciled to comparable GAAP measures later in this release. On a GAAP basis compared with prior year, 2012 earnings per diluted share of $2.41 grew 32 percent and operating income of $70.4 million increased 24 percent.
  • Walmart reports Q4 and full year FY2013 earnings

    End User News, |

    2/21/2013 12:00:00 AM

    Wal-Mart Stores, Inc. today reported financial results for the fourth quarter and full year ended Jan. 31, 2013.

    Net sales for the fourth quarter of fiscal 2013 were $127.1 billion, an increase of 3.9 percent from $122.3 billion in last year's fourth quarter. On a constant currency basis1, net sales would have increased 3.7 percent to $126.8 billion. Membership and other income decreased 7.8 percent to $815 million, due to lower other income. Total revenue for the fourth quarter was $127.9 billion, a 3.9 percent increase over last year.

    Income from continuing operations attributable to Walmart for the fourth quarter was $5.6 billion, up 7.9 percent. Diluted earnings per share from continuing operations attributable to Walmart (EPS) for the fourth quarter of fiscal 2013 were $1.67. The effective tax rate for the fourth quarter was 27.7 percent, which was lower than the company's expectations, and compares to 30.9 percent last year. The fourth quarter effective tax rate benefited from a number of discrete tax items, including positive impact from fiscal 2013 legislative changes, most notably the American Taxpayer Relief Act of 2012. In comparison, EPS for the fourth quarter of last year were $1.51.

  • Tronox Reports Fourth Quarter and Full Year 2012 Financial Results

    Miscellaneous News, |

    2/21/2013 12:00:00 AM

    Tronox Limited today reported fourth quarter 2012 revenue of $482 million, an increase of 26 percent versus $383 million in the year-ago quarter.  Adjusted EBITDA was $71 million in the fourth quarter, as compared to $139 million in the year-ago quarter.  Adjusted net loss in the fourth quarter was $45 million, or $0.40 per diluted share, versus adjusted net inc