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09.04.2012
AAA’s Fuel Gage Report as of 8/31/12
National Unleaded Regular:
Current Average - $3.829/gallon
Month Ago Average - $3.521/gallon
Year Ago Average - $3.617/gallon
Highest Recorded Average - $4.114/gallon on 7/17/08
Diesel:
Current Average - $4.090/gallon
Month Ago Average - $3.780/gallon
Year Ago Average - $3.885/gallon
Highest Recorded Average - $4.845/gallon on 7/17/08
Current Exchange Rates as of 8/31/12
American Dollar to Canadian Dollar = 1.009493
American Dollar to Chinese Yuan = 0.157491
American Dollar to Euro = 1.258051
American Dollar to Japanese Yen = 0.012727
American Dollar to Mexican Peso = 0.075063
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08.31.2012
Effective with all orders shipping on or after October 1, 2012 FutureMark Paper Co. is increasing the transaction price of all Coated Groundwood publication grades.
This increase applies to:
Connection - $3.00/cwt ($60/short ton) for 76 Bright
Connection - $3.00/cwt ($60/short ton) for 80 Bright
Choice - $3.00/cwt ($60/short ton)
Choice/Book Matte - $3.00/cwt ($60/short ton)
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08.31.2012
Sappi Fine Paper North America announces a transactional price increase on new and unconfirmed orders with confirmed delivery dates on or after Monday, October 1, 2012 on the following coated groundwood grades:
A $3.00 per CWT US$/CAD$ increase on:
• Galerie Lite – all basis weights
• Galerie Brite – all basis weights
Standard differentials and upcharges apply. This price increase includes any private label programs.
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08.31.2012
Nordstrom, Inc. today reported August sales, which reflected a shift in timing of the Anniversary Sale event, historically the Company’s largest sale event of the year. The event started one week later in July compared with last year. As a result, eight days of the event occurred in August this year compared to one day in 2011. For the period of July and August 2012 combined, same-store sales increased 8.4 percent.
The Company reported a 21.0 percent increase in same-store sales for the four-week period ended August 25, 2012 compared with the four-week period ended August 27, 2011. Preliminary total retail sales of $866 million for August 2012 increased 25.2 percent compared with total retail sales of $691 million for the same period in fiscal 2011.
Year-to-date same-store sales increased 8.0 percent compared with the same period in fiscal 2011. Preliminary year-to-date total retail sales of $6.32 billion increased 12.1 percent compared with total retail sales of $5.64 billion for the same period in fiscal 2011.
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08.31.2012
Kohl’s Corporation reported today that for the four-week month ended August 25, 2012 total sales increased 5.3 percent and comparable store sales increased 3.4 percent over the four-week month ended August 27, 2011. Year to date, total sales increased 1.1 percent and comparable store sales decreased 0.6 percent.
The Company operates 1,134 stores in 49 states, compared to 1,097 stores at the same time last year. The Company will open 12 new stores in September.
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08.31.2012
Please be advised that, effective with shipments on or after October 1, 2012, Resolute Forest Products will raise its Coated paper prices by amounts specified below (see primary grades listed). The products impacted by the price increase include, but are not limited to, the following:
ResoluteGloss $60 US/st
ResoluteBrite 76 $40 US/st
ResoluteBrite 80 $40 US/st
ResoluteMax 84 $40 US/st
The increases will be applicable to all basis weights and finishes, and all up charges apply.
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08.31.2012
Kruger Inc. today announced a US$60 per ton (US$3.00 per cwt) transaction price increase in North America on all of its coated groundwood (CGW) paper grades, effective with shipments on or after Oct. 1.
The increase will apply to all weights and brightness levels.
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08.31.2012
Stein Mart, Inc. today reported comparable store sales for the four-week period ended August 25, 2012 increased 5.6 percent. Total sales for the period were $79.0 million, an increase of 6.9 percent from $73.9 million in the same period in 2011.
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08.31.2012
Gap Inc. today reported that August 2012 net sales increased 9 percent compared with last year.
Net sales for the four-week period ended August 25, 2012 were $1.20 billion compared with net sales of $1.10 billion for the four-week period ended August 27, 2011. The company’s comparable sales for August 2012 were up 9 percent compared with a 6 percent decrease for August 2011.
Year-to-date net sales were $8.26 billion for the 30 weeks ended August 25, 2012, an increase of 6 percent compared with net sales of $7.78 billion for the 30 weeks ended August 27, 2011. The company’s year-to-date comparable sales increased 4 percent compared with a 3 percent decrease last year.
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08.31.2012
Costco Wholesale Corporation today reported net sales of $7.40 billion for the month of August, the four weeks ended August 26, 2012, an increase of eight percent from $6.85 billion during the similar period last year.
For the first 52 weeks of its 53-week fiscal year ended August 26, 2012, the Company reported net sales of $95.12 billion, an increase of nine percent from $87.05 billion during the 52-week 2011 fiscal year.
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08.31.2012
Total revenue at Lagardere Publishing was roughly flat in the first six months of 2012, but EBIT fell 20%, to 57 million euros. Sales at the parent company of the HachetteBook Group rose to 905 million euros from 900 million euros, an increase due almost entirely to favorable currency exchange. In the U.S., sales were down 4% which Lagardere attributed to a weaker frontlist than the first half of 2011. Growth in e-book sales also slowed in the U.S., although e-book sales still increased 20% and accounted for 27% of sales in the U.S. in the first half of the year. E-books accounted for 23% of adult sales in the U.K. and 8.4% of all Lagardere Publising revenue in the period.
Lagardere attributed the decrease in profitability mainly to sluggish market conditions, especially in the U.S. and noted that while e-books are more profitable than print titles, for the group as a whole digital sales are not high enough to offset softness in the U.S. and U.K. Although Largardere made no mention of the impact of Hachette’s litigation/settlement charges in the e-book price fixing lawsuits on its first half profitability, results did include some costs.
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08.31.2012
Nippon Paper Industries Co., Ltd.(President: Yoshio Haga) has added a new lineup to its flagship Aurora S brand of lightweight coated paper, which will go on sale as the Aurora S Series.
All products in the Aurora S Series feature a base weight of less than 50g/m2, making a product range that has strong thin and lightweight properties. The features of the lineup are as follows.
- Aurora S: A wide selection of base weights from 45.0g/m2 to 60.2g/m2 as the standard product
- Aurora S Dull: A superior balance of understated texture and high paper thickness
- Aurora S Shade: Boasts high opacity despite the low base weight (achieves 90% opacity at 45.0g/m2 base weight)
- Aurora S Bright: Produces vibrant whiteness (84% brightness on par with high-grade coated paper) and high printing reproducibility
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08.31.2012
Millar Western Forest Products Ltd. announced today that it will proceed with construction of a $42 million bioenergy facility at its bleached chemi-thermo-mechanical pulp (BCTMP) mill at Whitecourt, Alberta.
The project will involve integration of anaerobic hybrid digesters (AHDs) into the BCTMP mill’s existing aerobic effluent treatment system. The AHD units will recover organic material from the pulp mill’s effluent stream and convert it to a biogas. After conditioning, the biogas will be used to fuel reciprocating engines, to generate 5.2 megawatts of renewable energy for use by the company’s pulp operations.
All required regulatory approvals are now in place, allowing the project to proceed immediately. Construction will begin in September 2012, with start-up slated for late 2013.
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08.31.2012
Mobile phone users are likely to become vocal and active detractors if they have a negative customer experience, according to a global study by the Chief Marketing Officer (CMO) Council.
Carriers should expect more visible complaints -- including defections -- from consumers made about bad experiences, hidden feeds and poor service quality, says the Palo Alto, Calif.- based CMO Council.
Only 34 percent of 1,660 mobile subscribers surveyed around the globe in the second quarter of 2012 are loyal to their carriers and have stayed with their current communications service provider for more than five years.
According to the Ricoh-sponsored study, dubbed "What's Critical in the Telecommunications Vertical," 41% of mobile phone subscribers say they will lodge a complaint about a poor experience, 36% will cancel their service, and 29% will tell everyone they know about the incident.
Only 29% of those polled across all age groups characterized themselves as loyalists. In contrast, a total of 41% of respondents said they were either apathetic, on the fence, or just about gone when it comes to the relationship with their mobile service operator.
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08.31.2012
As it has in other states, Amazon.com Inc. has refused to collect sales tax in Pennsylvania, contending that, despite operating physical facilities in the state, it was not required to collect tax under existing law. But that was before the state clarified in a tax bulletin last year that the law covered Amazon as well as other retailers and set a Sept. 1, 2012, date for compliance.
The Pennsylvania Department of Revenue issued a bulletin on Dec. 1, 2011, stating that all retailers would be required to collect sales tax on purchases by Pennsylvania residents if the merchants maintain any of a long list of physical operations in the state. They include distribution and fulfillment centers, warehouses, sales representatives or stores. The bulletin also clarified that such operations came under the state’s sales tax collection law whether or not they were part of a subsidiary owned by the retailer.
In effect, the bulletin asserted that the Pennsylvania law falls within the guideline set by the U.S. Supreme Court that says states can mandate sales tax collection only from retailers that maintain an in-state physical presence. The Pennsylvania law applies to all retailers regardless of annual sales, a spokeswoman for the revenue department says. She adds that the department had initially set a deadline of Feb. 1, 2012, to comply with the clarified law, but agreed to extend it to Sept. 1 after a large number of online retailers requested additional time to prepare for it.
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08.31.2012
The attorneys general of 54 states and territories announced yesterday they have reached an agreement with three publishing companies to settle an antitrust suit that alleges the publishers conspired to increase e-book pricing.
Under the terms of the agreement, publishers Hachette Book Group Inc., HarperCollins Publishers LLC and Simon & Schuster Inc. will pay more than $69 million to consumers who purchased e-books they and two other companies published between April 1, 2010, and May 21, 2012. The other two publishers are The Penguin Group Inc. and Macmillan, which is owned by Verlagsgruppe Georg Von Holtzbrinck GmbH and Holtzbrinck Publishers LLC. Those companies are not participating in the settlement and continue, along with Apple Inc., to litigate a related case filed in April by the U.S. Justice Department.
At issue in both cases is the so-called agency pricing model, which emerged in late 2009 and effectively put publishers in control of retail prices. That was in response to aggressive pricing by Amazon.com Inc., which, in order to promote sales of its market-leading Kindle e-book reader often priced bestsellers at $9.99, often below the wholesale price it paid publishers. The publishers feared that such a low price would put pressure on them to reduce prices on their printed volumes. Amazon.com is No. 1 in Internet Retailer’s Top 500 Guide.
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08.31.2012
Flint Group Print Media Europe’s operation in Sweden and Denmark has appointed Heidelberg as its exclusive distributor for industry leading brands: K+E sheetfed offset inks, Varn Press Room Chemicals and dayGraphica blankets.
The appointment of world leading sheetfed press manufacturer, Heidelberg, as an exclusive partner to Flint Group, the world’s only manufacturer of sheetfed offset inks, pressroom chemicals and sheetfed blankets, creates a very attractive proposition to customers of both companies in Sweden and Denmark.
The two companies are associated with high quality products, outstanding service and a commitment to press room excellence. This new partnership is therefore a fusion of similar business standards, which will improve the ease of access to these value propositions for both Heidelberg and Flint Group customers.
“We feel confident that our customers will benefit from this cooperation and recognise the advantages of having Heidelberg as the complete supplier of pressroom consumables from Flint Group,” states Flint Group’s Jonas Svensson, Commercial Director, Sheetfed Print, Nordic Region.
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08.31.2012
Oil headed for a second monthly increase, its biggest since February, as investors awaited a speech by Federal Reserve Chairman Ben S. Bernanke.
Futures were little changed after dropping to the lowest close in two weeks yesterday as producers worked to restore Gulf of Mexico output and refiners prepared to resume operations after Hurricane Isaac passed. Companies halted 95 percent of U.S. oil production in the Gulf and 73 percent of natural-gas output, the Bureau of Safety and Environmental Enforcement said yesterday. Chairman Ben S. Bernanke is scheduled to speak today at a symposium where in 2010 he foreshadowed economic stimulus measures by the bank.
“Bernanke is likely to outline the fact that the Fed has ‘options’ and is prepared to use them to stimulate the economy if necessary,” said Guy Wolf, a strategist at London-based commodities broker Marex Spectron Group Ltd. “Supply fundamentals have been tight for crude recently and there is no immediate sign of that slipping.”
Oil for October delivery was at $94.98 a barrel, up 36 cents, in electronic trading on the New York Mercantile Exchange at 10:36 a.m. London time. The contract yesterday dropped 0.9 percent to $94.62, the lowest close since Aug. 15.
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08.31.2012
The international media company Bertelsmann saw a major increase in its revenues during the first half of 2012. Operating EBIT once again reached a high level, and the Group result improved significantly.
Group revenues from continuing operations increased by 5.0 percent to €7.6 billion, after €7.2 billion for the corresponding period last year. Almost all divisions contributed to the increase in revenues. Excluding portfolio and currency effects, growth was 3.7 percent. At €731 million, operating EBIT from continuing operations almost reached the prior year’s high level. Return on sales came to 9.7 percent (H1 2011: 10.3 percent). Group profit improved significantly by €84 million or 31 percent, to €353 million (H1 2011: €269 million). The main reasons for this are the record operating profits at the Random House book publishing group, a lower negative impact from special items, and the absence of negative earnings from discontinued operations. Bertelsmann Value Added (BVA), which measures the profit realized above and beyond the cost of capital, reached €90 million in the first half of the year (H1 2011: €87 million).
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08.31.2012
Twitter has launched a developer certification program that it says will provide guidance to marketers about what social analytics tools are most effective.
Twitter's new Certified Products Program gives a seal of approval to a dozen companies that focus on analytics, engagement and data resale. Twitter said in its official blog that the program will help “companies looking for tools to help them engage with customers, understand what people are saying about them on Twitter and learn more about their followers so they can share more valuable, timely content.”
The initial developers certified by Twitter are: Attensity, Crimson Hexagon, Dataminr, DataSift, ExactTarget, Gnip Inc., HootSuite Media, Mass Relevance, Radian6, SocialFlow, Sprinklr and Topsy Labs.
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08.31.2012
Arctic Paper S.A., the second-largest European producer of bulky book paper and one of the leading producers of high-quality graphic paper, generated revenue during the first half of 2012 of over PLN 1.3 billion, up 8.3% on H1 2011, and an EBITDA of almost PLN 91.8 million—almost double the figure for H1 2011. Operating profit in H1 2012 was almost PLN 31.1 million and net profit was almost PLN 17.7 million. This can be compared to losses in H1 2011.
In the second quarter of 2012, demand for high-quality paper in Europe was down 3.8% on Q1 2012 and down 0.7% on Q2 2011. In Q2 2012, Arctic Paper’s sales were up 4.8% year-on-year but down 6.2% quarter-on-quarter. Orders remained stable during the second quarter.
The company’s utilisation of its production capacity in Q2 2012 was high, which at 98% was up 6.6 pp on Q2 2011 and 1.2 pp on Q1 2012. The average utilisation of production capacity over the previous 12 months was around 95%.
The Group is continuing measures already under way to cut costs and optimise the product line. No significant investment projects were commenced in Q2 2012 although projects begun in previous quarters to help the Group achieve greater profitability have continued.
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08.31.2012
Stora Enso Building and Living has today acquired UPM Kymmene’s 50% shareholding in the sawn timber trading company RETS Timber Oy Ltd. The acquisition makes Stora Enso Building and Living the sole owner of RETS Timber. The transaction is effective immediately.
RETS Timber is a leading European softwood sawn products supplier to the Middle East and North Africa.
“The Middle East and North Africa are very important markets for us due to increasing construction activity, and the acquisition of RETS shows our commitment to these markets. RETS customers will continue to have the most attractive product offering, a reliable supply and a specialised sales force, and for Nordic sawn timber producers RETS will continue to be the most cost-efficient marketing channel. What will change is that being the sole owner will enable us to further develop the RETS business together with our Central European trading business, focusing on the same markets,” says Hannu Kasurinen, EVP, Stora Enso Building and Living.
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08.31.2012
The Nova Scotia Supreme Court has approved Pacific West Commercial Corp.‘s request to spend $2 million to quickly restart the hot idled mill in Port Hawkesbury.
$500,000 will come from Pacific West Commercial Corp. and $1.5 million will be taken from the $15.8 million provincial fund that kept the mill in a hot idle state during restructuring.
The money will be used to ready the mill for a quick restart by bringing back workers, repairing equipment, and buying supplies.
Pacific West Commercial Corp. plans to recall about 300 employees in late September or early October, providing the Canadian Revenue Agency soon approves complicated tax arrangement between Pacific West Commercial Corp. and Nova Scotia Power.
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08.30.2012
Effective with all orders entered immediately and all orders shipping on or after October 1, 2012, Verso Paper Corp. is increasing the transaction price of all Coated Groundwood grades.
The increase applies to all Coated Groundwood grades, including but not limited to the following brands:
Brand Increase Amount
Liberty® $3.00/cwt ($60/short ton)
Advocate® $3.00/cwt ($60/short ton)
Advocate® EHB $3.00/cwt ($60/short ton)
Advocate® Roto $3.00/cwt ($60/short ton)
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08.30.2012
J.Crew Group, Inc. today announced financial results for the second quarter and first half of fiscal 2012.
On March 7, 2011, J.Crew was acquired by investment funds affiliated with TPG Capital, L.P. and Leonard Green & Partners, L.P. Although the Company continued as the same legal entity after the acquisition, last year's financial statements were prepared for the following periods: (i) March 8, 2011 to July 30, 2011 (Successor) and (ii) January 30, 2011 to March 7, 2011 (Predecessor). To facilitate a meaningful comparison of our results, we have presented a pro forma statement of operations for the first half of fiscal 2011, which reflects the combination of the Successor and Predecessor periods, giving effect to the acquisition and related transactions as if they occurred on the first day of the fiscal year. The results of the second quarter of fiscal 2011 have not been prepared on a pro forma basis, as the transaction was effective prior to the first day of the quarter.
Second Quarter highlights:
•Revenues increased 21% to $525.5 million, with comparable company sales increasing 14%. Comparable company sales increased 3% in the second quarter last year. Store sales increased 24% to $384.0 million. Store sales increased 5% in the second quarter last year. Direct sales increased 16% to $134.0 million following an increase of 13% in the second quarter last year.
•Gross margin increased to 45.1% from 36.5% in the second quarter last year. Last year included amortization of inventory step-up from purchase accounting of $22 million.
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08.30.2012
Coldwater Creek Inc. today reported financial results for the three-month period ended July 28, 2012.
Second Quarter 2012 Operating Results
• Consolidated net sales were $163.7 million, compared with $181.4 million in the fiscal 2011 second quarter. Net sales from the retail segment, which includes the Company's premium retail stores, factory outlet stores and day spas, were $129.9 million versus $142.2 million in the same period last year, primarily reflecting a decrease in comparable premium retail store sales of 6.5 percent. Sales from the retail segment were also impacted by 12 net store closures since the end of the second quarter of fiscal 2011 as part of the Company's store optimization program. Second quarter net sales from the direct segment, which includes internet, phone and mail orders, were $33.8 million, compared with $39.2 million in the same period last year.
• Consolidated gross profit increased $3.2 million to $48.5 million, or 29.6 percent of net sales, compared with $45.3 million, or 25.0 percent of net sales, for the fiscal 2011 second quarter. The 465 basis point increase in gross profit margin was primarily due to an increase in merchandise margin reflecting improved product performance and significantly lower markdowns as a result of overall lower inventory levels.
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08.30.2012
John Wiley & Sons, Inc., announced today its new membership of the Open Access Scholarly Publishers Association (OASPA). OASPA represents the interests of open access journal publishers globally in all scientific, technical and scholarly disciplines and enables exchange of information, setting standards, advancing models, advocacy, education, and the promotion of innovation.
“We are pleased to become members of OASPA,” said Rachel Burley, Vice President & Director, Open Access, Wiley. “We support the OASPA’s goals of sharing knowledge and best practice, and developing sustainable OA publishing models.”
Wiley has had an open access offering for authors since 2004 in the form of OnlineOpen, a hybrid open access model for subscription journals, which last month extended to over 80% of Wiley journals. OnlineOpen is available to authors of primary research articles who wish to make their article available to non-subscribers on publication, or whose funding agency requires grantees to archive the final version of their article.
In early 2011 Wiley launched Wiley Open Access, a fully open access journal program, which already contains eleven journals. Wiley Open Access provides open access publication in peer-reviewed journals where all published articles are immediately freely available to read, download and share.
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08.30.2012
The Bon-Ton Stores, Inc. today announced comparable store sales in the four weeks ended August 25, 2012 increased 2.2%. Total sales increased 2.1% to $180.8 million in the current year compared with $177.1 million in the prior year period.
Year-to-date comparable store sales decreased 0.3%. Year-to-date total sales decreased 0.4% to $1,416.4 million compared with $1,422.5 million in the same period last year.
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08.30.2012
Regulators were wrong to approve a major new direct mail contract for the US Postal Service, and the ruling is likely to be overturned by the courts, a key advisor said yesterday.
Malin Moench – the Public Representative appointed by the Postal Regulatory Commission to represent the views of the general public in the review of the proposed contract between USPS and direct mail giant Valassis – said the Commission misapplied antitrust principles in approving the $107m deal last week.
The deal offered Michigan-based Valassis discounts of at least 20% on postage for any additional mailing it carries out for major national retailer advertising beyond existing volumes.
The newspaper industry, which fears losing its advertising accounts to Valassis under the terms of the deal, has already filed to appeal last week’s approval.
Yesterday, the Commission’s Public Representative for the case, who recommended against approval during this summer’s review, said the regulators were wrong to rule that the USPS contract was “fair competition” with the newspaper industry’s advertising business solely because it will be above-cost.
He said US antitrust laws do require market-dominant organisations to cover their costs, but also seek to protect the number and diversity of competitors in a marketplace. Going against the protection of market competition, the Valassis deal is in danger of replacing local newspaper advertising businesses with a single direct mail provider, damaging competition “beyond repair, one town at a time”, he claimed.
“The mistaken assumption that pricing above marginal cost functions as a ‘safe harbour’ under antitrust principles is central to the Commission’s Opinion. It badly misrepresents the state of the antitrust laws,” said the Public Representative.
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08.30.2012
After being affected by the Great East Japan Earthquake, Nippon Paper Industries Co., Ltd. resumed operation of Paper Machine N2 and Coating Machine 2 at the Ishinomaki Mill (Ishinomaki, Miyagi Prefecture) today. As a result, the production capability at Ishinomaki Mill has recovered to around 850,000 tons/year, with all six paper machines and two coating machines at the mill having resumed operations based on the Plan for Paper Business Revitalization released in August 2011.
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08.30.2012
Once the darling of magazine publishers on the iPad, aggregator Flipboard celebrated its second anniversary on the tablet platform with, what else, an infographic. This torrent of metrics is designed to reflect both the scale of the app’s reach and the depth of user engagement with its nicely designed reformatted Web feeds. The company claims 20 million users, 1.5 million of whom are using the app daily. We will give the group props. Very few app developers and publishers scratch beneath the biggest numbers – downloads and absolute user base.
But Flipboard is confident in the level of engagement the app commands – 86 minutes per user per month.
In the last year, Flipboard actively courted many magazines and newspapers to establish direct relationships and share ad revenue. Some magazines have shown a bit of reticence recently and pulled back the amount of content they will share with the app. Both The New Yorker and Wired retreated from previous models by outing only portions of articles into the Flipboard app and making interested readers click through to the magazine Web site for more. “If digital consumers want to interact with Wired, they can do so at Wired.com and not through an intermediary," publisher Howard Mittman told AdAge in June.
On the other hand, the New York Times is distributing all of its content into the app, even though the newspaper now uses a metered access system at its own site.
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08.30.2012
Champs Sports has launched a mobile commerce app that doubles as a digital magazine. Called SWAG (Stylish Ways to Acquire Game), the free app is designed to give teen athletes and fans an inside look at the lives and interests of their favorite athletes and the people who influence sports culture.
The quarterly digital magazine is available on the iPhone and iPad and also on Android devices through Google Play.
Consumers can tap items on pages of SWAG to be directed to Champ’s mobile site where they can purchase an item direct from the product page or see a list of nearby stores where they can purchase it. Readers also can access pop-up menus to buy the gear worn by featured athletes and can view and buy from a collage showcasing new athletic outfits in a section called “The Blueprint.”
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08.30.2012
Greif, Inc., a global leader in industrial packaging products and services, today announced results for its third quarter, which ended July 31, 2012. The company reported third quarter net sales of $1,102.8 million, operating profit of $86.1 million and net income attributable to Greif, Inc. of $40.7 million, or $0.70 per diluted Class A share. EBITDA1 was $125.8 million. Operating profit before special items was $91.6 million and net income attributable to Greif, Inc. before special items was $44.2 million, or $0.75 per diluted Class A share.
Net sales were $1,102.8 million for third quarter 2012 compared with $1,121.9 million for the same period in 2011. Sales volumes, including acquisitions, increased 5 percent but were more than offset by a negative 6 percent impact of foreign currency translation. Third quarter 2012 selling prices were generally in line with the prior year with some variances among business segments. Overall, volumes on a same-structure basis were 1 percent below third quarter 2011. This decrease was principally due to market conditions in the Rigid Industrial Packaging & Services and Flexible Products & Services segments, partially offset by stronger volumes in the Paper Packaging segment, compared with the same period last year.
Gross profit declined approximately 4 percent to $202.5 million for third quarter 2012 compared with $211.1 million for the same period in 2011. Gross profit margin decreased to 18.4 percent for third quarter 2012 from 18.8 percent for the same period last year. The decline in gross profit margin was principally due to lower same-structure volumes and market pressure in the Rigid Industrial Packaging & Services and Flexible Products & Services segments, which was partially offset by higher volumes and lower input costs in the Paper Packaging segment compared with a year ago.
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08.30.2012
Tucked into northern New Hampshire’s lush forests along the Androscoggin River lies the city of Berlin, a picturesque town that was once thriving as a result of the early twentieth century pulp and paper industry peak. Nestled in a heavily-wooded area near a plentiful water source, the town was an ideal location for mills, and became home to several during the mid- to late 1800s.
Though the paper industry boom has long since dwindled, the town of roughly 10,000 still proudly embraces its tagline “the city that trees built.” At times that may have been more true than some residents would prefer, particularly those who became jobless when the last paper mill—the largest source of employment in Berlin— was shut down several years ago.
But things have turned around since then, and a tree-based business will soon serve as an employment and economic boon to the town. Berlin’s paper mill is alive again, undergoing a major transformation into a wood-fired biomass power plant.
Originally part of Berlin Mills Company, the mill was renamed Brown Company during World War II because of anti-German sentiment. It changed ownership multiple times over the years, last operating under ownership of Fraser Paper, according to Alexandra Ritchie of Cate Street Capital. For many years, it was the biggest job and revenue source in the area.
Cate Street Capital, an investment firm focused on financing green projects, acquired the mill in 2008, acting on the opportunity to convert the existing infrastructure into something else—something the city and region could both benefit from. “It [the 2006 mill closure] was a devastating blow to the area, because there were so many people employed there,” explains Ritchie. “During the [early] development process, we were able to see firsthand what happens when a mill closes, as another area mill temporarily closed.”
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08.30.2012
Bonnier Corp.'s Florida Travel + Life has been named the first-ever Magazine of the Year by the Florida Magazine Association. In addition to this top honor, the magazine took five other first-place wins at the annual Florida Magazine Awards. Judges from publications such as the Boston Globe and Newsday, and from journalism schools at Northwestern University and Syracuse University, served on the reviewing panel.
"It's a great honor to receive the very first 2012 Magazine of the Year Award from the Florida Magazine Association, and I am very pleased and grateful that our original design, vibrant photography and inspiring content have been recognized," said Florida Travel + Life Editor-in-Chief Patricia Letakis.
For the second year in a row, Florida Travel + Life was awarded the Best Overall Magazine award in its category, making it a finalist for this year's Magazine of the Year award. Among the five honorees who received the Best Overall Magazine award in their respective categories, the judges selected Florida Travel + Life as the publication that best fulfilled its mission statement in the past year.
Florida Travel + Life's other first-place awards include: Best Overall Design, Best Overall Writing, Best Use of Photography and Best Feature. The magazine also picked up a second-place award for Best Department and a third-place award for Best Feature Design.
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08.30.2012
Oil dropped for a second day in New York as stockpiles unexpectedly rose and Hurricane Isaac weakened, reducing the threat to offshore platforms and rigs in the Gulf of Mexico.
Futures slipped as much as 0.6 percent. Crude inventories increased 3.8 million barrels last week, data from the Energy Department showed. They were forecast to decrease 1.75 million barrels, according to a Bloomberg News survey. Isaac was downgraded to a tropical storm after striking the Louisiana coast as a hurricane. U.S. economic data yesterday dimmed expectations that Federal Reserve Chairman Ben S. Bernanke will immediately announce a third round of monetary stimulus during a speech tomorrow in Jackson Hole, Wyoming.
“Isaac doesn’t seem as if it will inflict any serious damage to oil production in the Gulf, and everybody is waiting for Jackson Hole, which I think will be a non-event,” said Michael Poulsen, an analyst at Global Risk Management in Middelfart, Denmark.
Oil for October delivery slid as much as 58 cents to $94.91 a barrel in electronic trading on the New York Mercantile Exchange and was at $95.32 at 11 a.m. London time. The contract yesterday dropped 84 cents to $95.49, the lowest close since Aug. 27.
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08.30.2012
Barnes & Noble, Inc., the world’s largest bookseller and leading retailer of content, digital media and educational products, today announced partnerships with major retailers in the UK including multi-channel retailer Argos, the leading academic bookseller Blackwell’s and award-winning independent bookstore Foyles. These leading retailers will offer the highly sought-after NOOK digital products to reading and entertainment lovers in the UK this autumn. These retail partnerships are an important component of Barnes & Noble’s recently announced plans to expand its award-winning, beautifully designed NOOK products to millions of customers in the UK.
“We’re excited to work with Argos, Blackwell’s and Foyles to introduce our popular NOOK reading experience to an even broader audience in the United Kingdom,” said Jamie Iannone, President of Digital Products at Barnes & Noble. “Argos built its brand on choice and convenience, and with 90 percent of the population living within 10 miles of an Argos store, this literally brings the NOOK experience close to home for millions of UK consumers. Blackwell’s has built a reputation on its wide selection of titles and extremely knowledgeable staff, much like Barnes & Noble, and we’re delighted to continue in our dedication to the education space. As London’s largest independent bookshop chain, Foyles is a trusted name in books and literature in the UK, so we’re pleased to work together to bring NOOK and our expansive digital catalog to people passionate about books and reading.”
The retail partners will first offer Barnes & Noble’s top-ranked line of E Ink® Readers – NOOK Simple Touch™ and NOOK Simple Touch with GlowLight™ – in time for the holiday shopping season. NOOK will be stocked in more than 700 Argos stores, and prominently promoted through Argos’ robust online and telephone catalogue starting in October, providing shoppers easy and convenient ways to learn about, try and purchase NOOK products.
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08.30.2012
A few months ago, United Publications Inc (UPI) saw an opening in b-to-b media and grabbed it. In July, UPI, publisher of home medical equipment and security trade newspapers, launched SSN Gulf, a monthly newsmagazine and the Gulf edition of one of its key brands, Security Systems News.
"The Gulf is an extremely hot market for security products," says Brook Taliaferro, president and CEO of UPI. "You can't open a 7-Eleven in Dubai without submitting your camera plan to the police."
The launch is a testament to the company's business model. "Our business plan is very simple," explains Taliaferro. "It's to put a business newspaper where there isn't one. I am thrilled to say the issues are delivering the promise that we told the audience and the advertisers: news of the region, all the contracts signings."
SSN Gulf's region includes Kuwait, Qatar, Bahrain, Oman, Saudi Arabia and the United Arab Emirates. The region, writes Editor Scott Birch on SSNGulf.com, is expected to grow 10 percent year over year. To cover the burgeoning market, UPI has the typical staff of sales, editorial, circulation and e-media, including two members (Birch and Zabeen Reema Ahmed) who are based in the Dubai on the front lines, so to speak.
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08.30.2012
Limited Brands, Inc. reported a comparable store sales increase of 8 percent for the four weeks ended Aug. 25, 2012, compared to the four weeks ended Aug. 27, 2011. The company reported net sales of $665.6 million for the four weeks ended Aug. 25, 2012, compared to net sales of $702.4 million last year.
The company reported a comparable store sales increase of 8 percent for the 30 weeks ended Aug. 25, 2012, compared to the 30 weeks ended Aug. 27, 2011. The company reported net sales of $5.218 billion for the 30 weeks ended Aug. 25, 2012, compared to net sales of $5.378 billion last year.
August 2011 and 2011 year-to-date net sales included $87.8 million and $518.3 million attributable to the third party apparel sourcing business, which was sold in November 2011.
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08.30.2012
Supreme Court of Nova Scotia Justice John D. Murphy ruled Tuesday that the taxation deal between Richmond County and the Stora Enso mill — which was enshrined in provincial legislation in 2006 — is a deal that can be cancelled by the mill’s new owner, Pacific West Commercial Corp., and its parent company, Stern Partners Inc.
“In short, I’ve concluded that the agreement can retain its fundamental character as an agreement without contradicting the (Companies’ Creditors Arrangement) Act,” Murphy said in delivering his oral decision Tuesday.
Pacific West lawyer Gavin MacDonald had argued the Stora Enso Taxation Act should be considered an “agreement” under the Companies’ Creditors Arrangement Act and can be cancelled unilaterally by Stern. The letter of intent between Stora Enso and Richmond County is “enabled, rather than legislated by the act.”
Richmond County’s lawyer Bruce Clarke had argued that since the deal was enacted by provincial legislation, it is more than just an agreement and cannot be cancelled under the Companies’ Creditors Arrangement Act.
“What is an agreement is not defined by the (Companies’ Creditors Arrangement Act) and that makes everyone’s job here more difficult,” Murphy said. “This legislation does not require it to tax in a certain way. It authorizes it to do follow the letter of intent and so it falls within the range of agreements set out by (Companies’ Creditors Arrangement Act).”
Victor David, Richmond County deputy warden, downplayed Tuesday’s decision, saying it was merely a “procedural issue” that determined where the battle will be fought.
David said that with almost $2 million at stake for the county, it has to continue to negotiate with Stern to get a fair deal for taxpayers, but added they will be ready to argue in court in Sept. 13.
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08.30.2012
Target Corporation today reported that its net retail sales for the four weeks ended August 25, 2012 were $5,543 million, an increase of 4.7 percent from $5,292 million for the four weeks ended August 27, 2011. On this same basis, August comparable-store sales increased 4.2 percent.
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08.30.2012
Macy’s, Inc. today reported total sales of $1.812 billion for the four weeks ended Aug. 25, 2012, an increase of 5.7 percent compared with total sales of $1.714 billion in the four weeks ended Aug. 27, 2011. On a same-store basis, Macy’s, Inc. sales were up 5.1 percent in August 2012 as compared to August 2011.
For the year to date, Macy’s, Inc.’s sales totaled $14.073 billion, up 3.9 percent from total sales of $13.542 billion in the first 30 weeks of 2011. On a same-store basis, Macy’s, Inc.’s year-to-date sales were up 3.8 percent.
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08.29.2012
NewPage Corporation (NewPage) today announced the introduction of OmniPoint™, a new 60 lb. (89 gsm) heavyweight wet strength label paper designed for large glass and plastic containers used in food, beverage and condiment applications.
With specific expertise and technological capabilities in manufacturing wet strength label papers for the food and beverage market, the product development team at NewPage set its sights on developing a new heavyweight label paper that maintains a premium appearance, and consistently performs well in all aspects of production; from label printing, to die cutting and high speed label application.
"We worked closely with our customers to develop a heavyweight label paper solution that meets their needs for consistent quality, durability and label converting performance, while allowing them to deliver the best possible label graphics for their food and beverage brand owner customers," said David Diekelman, executive director of Sales and Marketing for specialty papers. "OmniPoint achieves these critical objectives."
OmniPoint is available with third-party chain-of-custody certifications to the Forest Stewardship Council (FSC®) (BV-COC-953662), the Sustainable Forestry Initiative® (SFI) and the Programme for the Endorsement of Forest Certification (PEFC™).
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08.29.2012
Standard Register, a leader in the management and execution of mission-critical communications, is the first company to be certified under a new Underwriters Laboratories (UL) certification program for In-Mold Labeling (IML).
As an expansion of UL Marking and Labeling Systems Certification offerings, the IML program was designed to support label manufacturers, including Standard Register, who develop durable, flexible and permanent in-mold labels that display safety-related information on UL certified products. In-mold labeling has been used for years to decorate and provide information on various consumer products sold in plastic containers, including food, cosmetics and cleaning supplies. To accommodate the use of IMLs on durable goods submitted for certification, UL developed a Marking and Labeling System program specifically for IMLs.
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08.29.2012
Metsä Tissue Oyj, part of Metsä Group and a leading European tissue and cooking paper products supplier, has signed a credit agreement with the European Bank for Reconstruction and Development (EBRD). The EUR 35 million, 8.5-year loan will finance further operational improvements in Poland and Russia.
The ongoing investments at the company’s Krapkowice mill in Poland are part of Metsä Tissue’s development programme aiming to strengthen the company’s market position in Continental Europe, improve its production capacity and enhance its brand and service offering. Productivity will additionally be improved by consolidating Polish tissue base paper production at one mill and by further standardising technology.
In addition to boosting productivity and energy efficiency, the programme will also yield significant environmental benefits such as lower energy consumption and CO2 and SO2 emissions.
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08.29.2012
The controversial changes at the New Orleans Times-Picayune, where the publishing schedule was cut to three days a week, may prove to be a harbinger of similar reductions at other newspapers across the country. This week, Advance Publications announced that it is also slashing the frequency at newspapers in New York State and Pennsylvania.
Advance said the Patriot-News of Harrisburg, PA will only be printed three days a week beginning in January 2012 -- including Sunday and probably two other weekdays -- as yet undecided. The Post-Standard of Syracuse, NY will be published on Tuesdays, Thursdays and Sundays, according to the newspaper.
In a memo circulated to employees,Post-Standard Editor and Publisher Stephen A. Rogers was blunt about the challenges facing that newspaper and the industry in general: “If we simply maintain the status quo, if we continue to do just what we have been doing -- no matter how well we do it -- The Post-Standard would face extinction in a matter of years. The economic model that has supported The Post-Standard and newspapers around the country is no longer sustainable. We are living through a digital revolution … This is an irreversible trend. We either adjust, or we perish.”
As in New Orleans and Alabama, Advance is also forming new companies to publish the newspapers and their associated Web sites, called the Syracuse Media Group and the PA Media Group. The latter will be formed by the merger of the Patriot-News and Pennlive.com.
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08.29.2012
Hearst Newspapers announced today that Michael C. LaBonia has been named executive vice president of multi-market advertising for the company. LaBonia will lead sales efforts for national accounts for the Houston Chronicle, San Francisco Chronicle and San Antonio Express-News.
In this new role, LaBonia will direct a sales team focused on the top 100 multi-market retail and national accounts and agencies. His base of operations will be out of the Houston offices and he will report jointly to Houston Chronicle President John T. O’Loughlin, San Francisco Chronicle Executive Vice President of Advertising Jeff Bergin and Express-News Executive Vice President of Advertising Ray McCutcheon.
“We are pleased to welcome Mike back to Hearst Newspapers and this vital sales team,” Hearst Newspapers President Mark Aldam said. “Under Mike’s direction, our company is putting additional effort and skill against growing share in our top markets, some of the fastest growing in the nation.”
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08.29.2012
QR codes and their ilk continue to rise in usage by publishers, according to a study out today by mobile marketing and technology services company Nellymoser. In the second quarter, the top 100 magazines by circulation featured a variety of mobile action codes in 2,200 instances, a 61 percent jump over the first quarter this year.
The study doesn't track scan rates or actions taken post scan, but the printing of QR codes, digital watermarks and other action codes is definitely on the rise—in the first quarter of 2011, there was a comparatively modest 352 codes printed. And, at the end of first half 2012, the number of action codes printed is already coming close to the 4,468 that were printed during all of 2011.
While the instances of codes appearing in the top 100 magazines went from 1,365 to 2,200 the number specifically appearing in advertisements also jumped, going from 5 percent of ad pages in the second quarter 2011 to 10 percent this year.
For the first time all 100 of the top magazines featured at least one action code. And of all the codes, QR codes are still the most prevalent, with more than 80 percent market share since December 2011.
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08.29.2012
The niche magazine for the performing arts community, Backstage, has redesigned its print publication and website in an effort to stay ahead of its competition and a bit ahead of the curve—a move that seems to be working, so far.
“What we’ve tried to do with this magazine is take almost every part of it and lead it back to the Web,” says John Amato, chairman and CEO of Backstage.
The print publication will go from a tabloid size of 11.5 inches by 15 inches, to a 9 inch by 10.875-inch book. The magazine will have an increased paper quality with a glossy interior and cover stock. According to Amato, readers were asking for a smaller product so it could be easily transported to casting calls and auditions.
The print publication is also more integrated with the brand’s digital presence. A story with a casting director, for example, has links to Backstage’s career center in the magazine’s margins, alerting readers to “Find representation now.” Similarly, the margins surrounding an article on a new actor’s app encourages readers to “Find more essential tools and DIY tips at backstage.com.”
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08.29.2012
Total European Shipments for July were up 0.3% vs. 2011 while Y-T-D shipments are down 4.0%. Shipments of Newsprint in July were up 0.6% while Y-T-D shiments are down 4.1%. SC-Magazine shipments in July were down 8.5% and Y-T-D shipments are down 4.3%. Shipments of Coated Mechanical reels in July were up 0.2% and Y-T-D shipments are down 6.1%. Shipments of Uncoated Mechanical reels in July were up 4.7% while Y-T-D shipments are down 5.1%. Shipments of Coated Woodfree were up 4.3% and Y-T-D shipments are down 2.1%. Shipments of Uncoated Woodfree were up 0.2% for July and Y-T-D shipments are down 3.0%
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