Blog Keyword - Midland PaperClips - fine paper, packaging and supply systems distributor

08.29.2011

Multi-Color Corporation Invests in Core Markets and Customers by Acquiring York Label Group

Multi-Color Corporation announced today that it has agreed to acquire 100% ownership of York Label Group to strengthen Multi-Color's leadership in the Home & Personal Care, Food & Beverage and Wine & Spirit label markets in North America and Chile.

The combinded Company is expected to have annual revenues of approximately $640 million at closing. This makes Multi-Color Corporation the largest label company in the U.S. and the fastest growing globally with revenues more than tripling since the beginning of 2008.

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08.29.2011

Crude Oil Trades Near Three-Day High; Gasoline Slides as Irene Downgraded

Oil traded near a three-day high in New York as investors speculated that growth will recover in the U.S., spurring demand in the biggest crude consumer. Gasoline slid as Irene was downgraded to a post-tropical cyclone.

Crude climbed as much as 0.6 percent after Federal Reserve Chairman Ben S. Bernanke said Aug. 26 that growth is safe in the long run and the central bank can still aid the recovery. Refineries along the East Coast were operating at or near normal levels after Irene weakened. London’s Brent dropped as Libyan rebels claimed full control of oilfields.

“If the boost from Bernanke’s speech on Friday starts to loose some of its punch due to its very cautious language on further monetary action, there should be some downside action in Brent crude,” said Bjarne Schieldrop, Stockholm-based chief commodities analyst at SEB AB, today in a note. He forecast the price of Brent will average $105 a barrel in the fourth quarter.

Crude for October delivery on the New York Mercantile Exchange was at $85.47 a barrel, up 10 cents, at 11:07 a.m. London time. It gained as much as 55 cents earlier. The contract rose 7 cents on Aug. 26 to $85.37, the highest level since Aug. 23. Prices have advanced 15 percent during the past year.

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08.26.2011

Urban Outfitters, Inc. Announces Approval of Additional 10 Million Shares Under Its Share Repurchase Program

Urban Outfitters, Inc., a leading lifestyle specialty retail company operating under the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands, today announced that its Board of Directors has authorized the repurchase of an additional 10 million common shares. Pursuant to this program, the Company, at its discretion, may repurchase shares of its common stock from time to time, subject to market conditions and at prevailing market prices. The Company has repurchased all of the shares available under its previous share repurchase program, including the 10,000,000 common shares authorized by the Board of Directors on November 16, 2010.

Urban Outfitters, Inc. is an innovative specialty retail company which offers a variety of lifestyle merchandise to highly defined customer niches through 180 Urban Outfitters stores in the United States, Canada, and Europe, catalogs and two web sites; 160 Anthropologie stores in the United States, Canada and Europe, catalogs and two websites; Free People wholesale, which sells its product to approximately 1,400 specialty stores and select department stores; 51 Free People stores, catalogs and web site; 1 Terrain garden center and web site and a BHLDN website as of July 31, 2011.

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08.26.2011

Crude Falls, Narrowing Weekly Gain, on Doubts About U.S. Stimulus Measures

Oil declined, narrowing the first weekly gain in five, on speculation that U.S. measures to revive growth will fall short of expectations and that potential fuel shortages caused by Hurricane Irene might be limited.

Futures fell as much as 0.8 percent in New York before a speech by Federal Reserve Chairman Ben S. Bernanke today and a U.S. government report that may show economic growth slowed in the second quarter. Gasoline extended yesterday’s gains on concern Irene may sap fuel consumption.

“The market will be extremely disappointed at what happens at Jackson Hole,” said Michael Hewson, a London-based market analyst at CMC Markets, which handles about $240 million a day in U.S. crude contracts. “The markets have built themselves up that Bernanke will pull a rabbit out of a hat, but I don’t think he is going to.”

Crude for October delivery on the New York Mercantile Exchange fell as much as 65 cents to $84.65 a barrel and was at $84.87 at 11:33 a.m. London time. Yesterday, the contract added 14 cents to $85.30. Prices are up 3.2 percent this week, heading for their first weekly gain since the five days ended July 22, and are up 16 percent in the past year.

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08.26.2011

CEPIFINE Releases European Fine Paper Statistics for July 2011

Total coated woodfree shipments in July declined 10.0% vs. last year and are down 4.2% year-to-date.

Total uncoated woodfree shipments declined 1.4% vs. last year and are down 3.0% year-to-date.

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08.26.2011

CEPIPRINT Publishes July 2011 Statistics

CEPIPRINT, the Association of European Publication Paper Producers, issues today its monthly summary of European (Western + Eastern) mechanical paper statistics.

Total European shipments of Newsprint were 5.3% (47,000 tonnes) lower in July compared to the same period last year. Exports of the grade fell 17% (27,000 tonnes) while domestic deliveries were down 2.7% (20,000 tonnes) year-on-year. European demand for Newsprint dipped 3.4% to 722,000 tonnes last month, a reduction of 26,000 tonnes from July 2010. However, year-to-date European demand for the grade showed a 1.2% (63,000 tonnes) rise against the same period last year.

In the SC-magazine paper sector, exports were flat in July year-on-year while the accumulated figures of January-July recorded a 22.1% (89,000 tonnes) hike in shipments overseas. Domestic shipments of the grade fell 5.8% (19,000 tonnes) last month compared to the year-earlier period.

Looking at Coated Mechanical Reels, July saw overseas shipments of the grade climb 7.6% (13,000 tonnes) against July last year. Domestic shipments did not fare so well, though, contracting 4.8% (23,000 tonnes) year-on-year.

For Uncoated Mechanical papers, July saw demand and shipments down across the board compared to the same period last year, whereas the year-to-date comparisons remained positive for the first 7 months of the year.

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08.26.2011

Crown to Expand Presence in China to Support Strong Market Growth

Crown Holdings, Inc., a leading supplier of metal packaging products worldwide, today announced plans to continue to expand its footprint in China by building two new beverage can plants and adding a second line to a previously announced facility currently being constructed.

The new facilities will be located in Zhengzhou (Central China) and Changchun (Northeastern China). Each plant will have an initial annual production capacity of 720 million two-piece aluminum beverage cans. The Zhengzhou plant, which will serve Henan province and surrounding provinces such as Shandong, will produce 33cl cans. It is expected to be operational by the first quarter of 2013. The Changchun plant will produce 33cl and 50cl cans and is expected to be operational in the third quarter of 2013.

Crown is also adding a second line to its previously announced facility in Putian (Fujian Province). The new line, expected to be operational by the first quarter of 2013, will produce 33cl and slim 25cl aluminum beverage cans. This expansion will bring annual production capacity at the Putian facility up to 1.4 billion beverage cans when fully commercialized.

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08.26.2011

Express Launching Print and Digital Catalogs

Fashion apparel retailer Express is releasing its first catalog. The 48-page book is expected to be in mailboxes by the end of August.

The 8" X 10-1/2" catalog will support Express's Fall 2011 men's and women's collections. The book was shot in New Orleans this summer during Express's "Rock the Sidewalk" runway show.

Express mailed the catalog to more than 8 million names, though the company declined to say how many of those are on its house file.

In addition to the mailed version of the catalog, Express launched a shopable digital version on the Express site yesterday. Versions for Facebook version, iPads and smartphones will launch by the end of the week, the company said.

Express also would not reveal if the September catalog is the first of several mailings, or how frequent it plans to be in the mail.

Express is owned by Golden Gate Capital.

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08.26.2011

dELiA*s, Inc. Announces Second Quarter 2011 Results

dELiA*s, Inc., a direct marketing and retail company comprised of two lifestyle brands primarily targeting teenage girls and young women, today announced the results for its second quarter of fiscal 2011.

Total revenue for the second quarter of fiscal 2011 increased 2.6% to $44.3 million from $43.2 million in the second quarter of fiscal 2010. Revenue from the retail segment increased 8.4% to $26.4 million, or 59.5% of total revenue. Revenue from the direct segment decreased 4.8% to $18.0 million, or 40.5% of total revenue.

Total gross margin decreased to 27.0% in the second quarter of fiscal 2011, compared to 28.7% in the prior year quarter, predominantly reflecting reduced merchandise margins in the retail segment, partially offset by occupancy cost leverage.

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08.26.2011

Manistique Papers, Inc. reaches deal

Manistique Papers, Inc. which shut down production and filed for Chapter 11 bankruptcy earlier this month - has announced it has reached a deal that prevents immediate liquidation.

The agreement is the first step that prevents the mill's permanent closure and gives officials the chance to continue restructuring efforts under Chapter 11 bankruptcy protection.

According to a memo from the Michigan Economic Development Corp. (MEDC), mBank has purchased MPI's existing loans from previous lender RBS Citizens NA, as well as two unfunded letter of credits. The bank has also requested MEDC participation on two term loans.

The amounts of the loans are not available at this time.

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08.26.2011

Europe's paper industry approaching major round of mill closures, consolidation, say analysts

(Forestweb) - Europe's paper industry is approaching a period of mill closures and consolidation, according to analysts, as increasing costs and the decline in print media add to the industry's existing troubles of poor demand and overcapacity, Reuters reported Aug. 22.

At this week's Reuters' Forest Forum, which is based on interviews with industry executives and analysts in Helsinki, Johannesburg and Stockholm, cost-cutting, moving into new business segments and mergers were the main subjects of discussion.

Investors are currently holding back while they watch the market to see how much capacity will be cut, rather than buying shares at what appear to be bargain prices. Shares in Finnish paper companies Stora Enso Oyj and UPM-Kymmene Ltd. have fallen around 40% in the year to date.

According to analysts, UPM's acquisition of its competitor Myllykoski was just the beginning of consolidation and capacity reductions in Europe. UPM said it would announce mill shutdowns by the middle of September, and is expected to slash as much as 1 million tonnes of paper capacity, which would amount to 2% of Europe's total capacity of 51 million tonnes.

Reducing production is seen as a necessary step to stop paper prices from falling further. Fine paper maker Sappi Ltd. of South Africa will soon shutter a 500,000 tonnes/year paper mill in Switzerland, while M-real Corp. is planning to either sell or close its paper mills in France and Germany to focus on packaging.

Newsprint is currently the most vulnerable paper grade among the graphic paper segment, analysts say. Katja Keitaanniemi, head of research at Swedbank Finland, said pulp and recycled fiber prices are high, but the paper market is shaky. She said Burgo Group SpA of Italy and Norske Skogindustrier ASA of Norway are among the companies that are most likely to restructure.

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08.25.2011

American Eagle Outfitters Reports Second Quarter 2011 Results

American Eagle Outfitters, Inc. today announced earnings for the second quarter ended July 30, 2011 of $0.10 per diluted share, compared to income from continuing operations of $0.13 per diluted share last year.

Total sales for the quarter increased 4% to $676 million, compared to $652 million last year. Second quarter comparable store sales were flat, compared to a 1% decrease last year. For additional comparable store sales information for the period, see the accompanying table.

Gross profit was $232 million, or 34.3% as a rate to sales, compared to $240 million, or 36.8% as a rate to sales, last year. Merchandise profit dollars increased slightly over last year due to lower markdowns. However, higher product costs caused a 150 basis point decline in merchandise margin. Buying, occupancy and warehousing costs increased 100 basis points as a rate to sales. This was primarily due to rent, reflecting the impact of new store openings, lease renewals and flat comparable store sales.

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08.25.2011

Oil Trades Near One-Week High in London on Fed Speculation, U.S. Supplies

Oil was little changed near its highest in a week in London on speculation that the Federal Reserve may announce new measures to stimulate the economy, and after U.S. crude inventories declined.

Federal Reserve Chairman Ben S. Bernanke may outline steps to bolster the world’s largest economy in a speech tomorrow. Crude inventories fell for a second week last week, slipping by about 2 million barrels, U.S. government data showed yesterday. Saudi Arabia may cut production if a resumption of Libyan exports pushes the price of Brent crude down toward $90 a barrel, according to the Centre for Global Energy Studies.

“Risk aversion has decreased and that’s helped oil,” said Hannes Loacker, an analyst at Raiffeisen Bank International AG in Vienna and the fifth most-accurate forecast of Brent prices in the eight quarters to June. “The strength of Brent is a bit of a surprise. We should see substantial Libyan volumes come back by the middle of next year.”

Brent oil for October settlement on the London-based ICE Futures Europe exchange gained as much as $1.05 a barrel, or 1 percent, to $111.20. It was at $110.29 a barrel at 11:24 a.m. London time. The European benchmark contract was at a premium of $24.90 to U.S. futures, down from a record $26.21 on Aug. 19.

On the New York Mercantile Exchange, crude for October delivery was at $85.39 a barrel, up 23 cents. Yesterday, the contract lost 28 cents to $85.16, the lowest close since Aug. 22. Prices have gained 18 percent from a year ago.

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08.25.2011

Media buyers warn ad budget cuts may be ahead

About 7% of advertisers cut ad budgets and 11% warned of budget cuts in the wake of the financial gyrations that followed the U.S. debt downgrade, according to an online survey of media buyers conducted this month by Strata, which markets media buying software.

Media buyers responding to Strata's survey said that 82% planned no immediate changes to their budgets. If cuts were made to ad budgets, 50% of media buyers said that spot TV would be cut and 40% said print was likely to be cut.

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08.25.2011

H&N Printing & Graphics, Inc. Achieves G7 Master Printer Status

H&N Printing & Graphics, Inc., a Consolidated Graphics, Inc. company, with capabilities including digital printing, offset printing and packaging, announced today it has achieved G7 Master Printer status through IDEAlliance, the non-profit industry organization that develops, educates, and validates best practices in publishing and information technology. H&N Printing & Graphics' G7 Master Printer designation highlights the company's commitment to quality, consistency and color management.

"At H&N we are always committed to bringing our clients the best possible product. Our status as a G7 Master Printer assures our customers that we are providing them with the most accurate color matching and highest quality printed products available," said Douglas Oberholzer, President of H&N Printing & Graphics. "Through our G7 certification we have been able to increase our production efficiency through improved color consistency results and decreased paper waste, which reduces the impact on the environment."

H&N Printing & Graphics has been trained to utilize the new G7 methodology and can produce a press sheet to GRACoL (General Requirements for Applications in Commercial Offset Lithography) targets within acceptable tolerances. By achieving the status of a G7 Master Printer, H&N can reliably produce high-quality printing with a close visual appearance from proof to press, as well as from press to press. As a G7 Master Printer, the company will go through a yearly requalification audit to ensure it maintains IDEAlliance calibration and process standards.

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08.25.2011

Cenveo Elevates Print Publishing with HP

HP today announced that Cenveo, one of the world’s largest providers of print and related resources, has upgraded its short-run publishing and customized collateral capabilities by purchasing an HP Indigo W7200 Digital Press.

Installed recently at one of its core U.S. digital production facilities in Hurlock, Md., the new press enables Cenveo to: reduce upfront costs for scientific, technical and medical journal publishers, replacing longer-run offset print and warehousing operations with offset-quality, medium-run-length print-on-demand fulfillment; support rapid growth in high-value, fully personalized marketing collateral; and sell more customized hybrid production jobs requiring a combination of offset and digital print production, using the W7200 to replicate the color quality of offset lithography.

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08.25.2011

Ilim Group Continues to Upgrade Its Ust-Ilimsk Mill

A new automated process control system has been introduced at the Ust-Ilimsk Branch of Ilim Group. The system was installed in the cooking and bleaching shops of the Branch's Pulp Line 1. Total investment cost is USD 1.5 million.

The goal of installing the new process control system by Yokogawa (Japan) is to replace the obsolete ABB system. This will increase the production output at PL-1, and improve the cooking, washing and bleaching processes. Moreover, the new system will help reduce the consumption of chemicals and pure cold water and decrease the environmental impact on the Angara River.

The new process control system in PL-1 will allow the Mill to control all production processes according to unified algorithms. This will significantly improve the manufacturing performance indicators and quality of the product.

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08.25.2011

No Health Risk to Customers or Cashiers from Thermal Paper

Information regarding the current article in the Greenpeace magazine dated 08.16.2011

The speculations made in the article regarding possible dangers to humans from cash register receipts are not new and cause unnecessary concern to consumers. Whereas up to now the focus has always been on Bisphenol A (BPA), Bisphenol S has recently also become the subject of speculation.

Independently of each other, various authorities and scientific institutions have researched intensively into the safety of thermal paper.

The most recent study – conducted in June 2011 by the Danish Environmental Protection Agency – dealt thoroughly with questions concerning possible health risks resulting from the BPA in thermal receipts. This study reaffirms the fact that cashier receipts represent no risk whatsoever to customers or cashiers. Nor was any risk found for pregnant women, even assuming additional absorption of BPA from other sources.

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08.25.2011

AbitibiBowater Announces Plan to Invest in its Iroquois Falls (Ontario) Paper Mill, Improving its Competitive Position

AbitibiBowater today announced a reconfiguration and capital spending program for its paper mill located in Iroquois Falls, Ontario. The investments will improve overall product quality and the mill's competitive position.

The Company will be investing between C$12-$17 million in the thermo-mechanical pulp mill and on paper machine number 8, the larger of the mill's two machines. The pulp mill investment will result in improved pulp quality with the installation of additional pulp cleaning. Paper machine upgrades will result in improved wet-end formation and newsprint quality. As well, chip receiving and chip handling capabilities will be increased to allow the Iroquois Falls facility to operate on 100% externally supplied chips, with the mill's current woodyard and woodroom being phased out.

"Today's announcement is a critical step in improving the competitive position of our Iroquois Falls operation for the foreseeable future," said Michel Maillé, Vice President, Pulp and Paper Operations. "While it has been a good site over the years, this investment is necessary to meet today's market and economic realities."

The reconfiguration follows consultation with both the Town of Iroquois Falls and the employees at the mill and their union representatives.

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08.24.2011

Ahlstrom starts co-operation negotiations at Karhula and Mikkeli plants

Ahlstrom Corporation, a global high performance materials company, will start on September 1, 2011, co-operation negotiations with employee representatives at its Karhula and Mikkeli plants in Finland. The negotiations concern all personnel at the sites, with the aim of improving profitability of the units.

Ahlstrom manufactures glassfiber, specialty reinforcements and glassfiber tissue in Karhula and Mikkeli. Previous efficiency improvement measures implemented at the sites have not been sufficient. Profitability has weakened as competition, particularly in glassfiber markets and specialty reinforcements used by the wind energy industry, has intensified significantly. In addition, the company has not been able to fully compensate for the increased raw material and energy costs by higher selling prices.

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08.24.2011

Crude Oil Declines From Four-Day High on U.S. Supplies, Japan Downgrade

Oil dropped from the highest closing price in four days in New York before a report forecast to show crude stockpiles increased in the U.S., the world’s largest user of the commodity.

Prices also slid after Moody’s Investors Service cut Japan’s debt rating on the economic outlook for the third- biggest oil user. The U.S. Energy Department report today may show crude stockpiles rose 1.75 million barrels from 354 million in the seven days ended Aug. 19, according to the median of 14 analyst estimates in the Bloomberg survey. Crude’s drop may be limited because of delays in restoring exports from Libya, according to Barclays Plc.

“After a stream of bad economic indicators, U.S. demand, especially for gasoline, is in decline,” Thorbjoern Bak Jensen, an analyst at Global Risk Management in Middelfart, Denmark, who predicts Brent will average $107 in the fourth quarter. “The Japanese downgrade is definitely bearish news as spending has to be reduced to stop further downgrades.”

Crude for October delivery was at $85.16 a barrel, down 28 cents, at 11:16 a.m. London time in electronic trading on the New York Mercantile Exchange. It earlier rose as much as 0.5 percent. The contract yesterday jumped $1.02, or 1.2 percent, to $85.44, the highest close since Aug. 17. Front-month futures have risen 19 percent in the past year.

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08.24.2011

Books-A-Million, Inc. Announces Second Quarter Results

Books-A-Million, Inc. today announced financial results for the second quarter and 26-week period ended July 30, 2011. Net sales for the 13-week period ended July 30, 2011 decreased 11.4% to $106.4 million from net sales of $120.0 million in the year-earlier period. Comparable store sales for the second quarter declined 12.9% compared with the 13-week period in the prior year. Net loss for the second quarter was $2.9 million, or $0.18 per diluted share, compared with net income of $1.9 million, or $0.12 per diluted share, in the year-earlier period.

For the 26-week period ended July 30, 2011, net sales decreased 11.2% to $210.4 million from net sales of $237.0 million in the year-earlier period. Comparable store sales declined 13.1% compared with the same period in the prior year. For the 26-week period ended July 30, 2011, the Company reported net loss of $6.4 million, or $0.41 per diluted share, compared with net income of $3.9 million, or $0.25 per diluted share, in the year-earlier period.

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08.24.2011

DMA: Marketers report growth in spending, profits

Marketers experienced moderate growth in key categories during the second quarter of the year, in particular in direct/digital marketing activities, according to the Direct Marketing Association's Quarterly Business Review, released today.

A large majority (91.6%) said investments in direct/digital marketing activity grew or remained steady in the second quarter, compared with the previous quarter, with 42.3% expecting budgets to rise in the third quarter. Profitability in the quarter increased for 35.6% of marketers versus 8.5% that reportedg a decrease, while 72.3% reported that staffing levels were unchanged.

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08.24.2011

IWCO Direct Announces Expanded Roles For Executive Management To Support Growth Strategies

IWCO Direct, a leading national provider of direct marketing solutions, announced that Executive Vice President - Chief Financial Officer Joseph F. Morrison will take on an expanded role as President. Executive Vice President – Sales & Client Services Patrick Deck has been named Executive Vice President – Chief Marketing Officer. James N. Andersen will continue as Chief Executive Officer and will devote additional energies to IWCO Direct's growth strategies. Tom Wicka, who has served as Executive Vice President – Chief Marketing Officer, will continue to provide leadership as a member of the Board of Directors.

“Similar to our acquisition last year of the U.S. operations of Transcontinental Direct that provided us with a national footprint, these organizational enhancements further position IWCO Direct for continued growth as we help customers respond quickly to marketing opportunities and challenges in this dynamic environment,” commented Andersen. “We have the right leadership team in place to advance our vision of delivering direct marketing like no one else.”

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08.24.2011

M-real Office Papers set to increase uncoated fine paper prices

M-real Office Papers will implement a 6 percent price increase per tonne across European markets across European markets. This price rise will take effect from 15th September 2011 and will impact all uncoated fine papers and recycled products.

Price increase is needed due to cost increases of key raw materials such as pulp, energy, starch and other chemicals.

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08.24.2011

PEFC Requests Investigation of Recent Greenpeace Allegations

As the world's largest forest certification system, PEFC takes its responsibility towards stakeholders and customers very seriously. The recent allegations by Greenpeace against a PEFC-certificate holder, Cottonsoft, requires further examination.

PEFC has therefore decided to ask the SGS South Africa (Pty) Ltd. - Qualifor Programme, the relevant certification body in this case, to investigate the situation and to provide clarification regarding the content of supposedly PEFC certified material produced by Cottonsoft.

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08.24.2011

UPM Publishes Paper's Water Footprint in Cooperation With Water Footprint Network

UPM celebrates the World Water Week 2011 in Stockholm by publishing the pilot study results for paper’s water footprint in cooperation with the Water Footprint Network.

A Water Footprint Assessment maps the amount of freshwater consumed throughout the production chain of paper. The results show that water for growing trees represents the primary contribution to the total water footprint of paper. “If you think about the water needed in producing one sheet of A4, most of the water is used in the forest as part of the natural water cycle,” says Sami Lundgren, Director, Environmental Services, UPM.

“By working with the Water Footprint Network, UPM has taken a leading role in reviewing sustainable water use in the paper industry. The Water Footprint Network applauds this initiative. UPM’s pilot study shows that when forests are managed sustainably, paper products will have little contribution to the growing concerns of water scarcity,” explains Ruth Mathews, Executive Director, Water Footprint Network.

Water footprint divides the water into three different types – green, blue and grey. Green water represents the natural water cycle – the water evaporated by trees. Blue water refers to water withdrawn from rivers, lakes and aquifers. Grey water presents the amount of water needed to assimilate the remaining pollutants after cleaning process wastewater.

“According to our pilot study, 60% of paper’s water footprint is green water,1% is blue water and 39% grey water. Around 99% of the water footprint comes from the supply chain and the remaining 1% from the actual paper mill production processes,” explains Sami Lundgren.

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08.24.2011

Williams-Sonoma, Inc. Announces Strong Second Quarter 2011 Results

Williams-Sonoma, Inc. today announced operating results for the second quarter of fiscal 2011 ended July 31, 2011 (“Q2 11”).

Net revenues in Q2 11 increased 5.1% to $815 million versus $776 million in Q2 10. Comparable brand revenue in Q2 11 increased 6.5%.

Direct-to-customer (“DTC”) net revenues in Q2 11 increased 13.0% to $368 million versus $326 million in Q2 10, driven by increases across all brands. E-commerce net revenues increased 18.4% to $317 million in Q2 11 versus $267 million in Q2 10. DTC net revenues generated 45% of total company net revenues in Q2 11 versus 42% in Q2 10, representing a channel mix shift of 300 basis points.

Retail net revenues in Q2 11 decreased 0.7% to $447 million versus $450 million in Q2 10, primarily driven by a 4.6% decrease in retail leased square footage (“LSF”), including the closure of our Williams-Sonoma Home stores at the end of FY 10. Excluding the Williams-Sonoma Home stores, retail net revenues increased 0.9%, primarily driven by the West Elm brand and international franchise operations. Comparable store sales in Q2 11 increased 1.4% versus 13.6% in Q2 10.

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08.24.2011

Postal Employees Need a New Plan

For well over a year, Postal employees and their unions realized that their jobs were at risk as the Postal Service's financial situation worsened. Recently the Postal Service proposed cutting 220,000 full time jobs in a major re-envisioning of the Postal Service. There is little that Postal Unions can do through lobbying Congress, the Postal Regulatory Commission or in negotiations with the Postal Service to stop that.

Just yesterday, the APWU repeated its support for H.R. 1351 allow the USPS to use the billions of dollars in pension overpayments to meet its financial obligations. As their post on the web notes, Representative Issa is blocking consideration of this bill in the Government Reform and Oversight Committee. Given the potential impact of H.R. 1351 on the budget, the prospect of a similar legislative bill getting the 60 vote necessary for passage in the Senate seem equally unlikely.

The prospects of stopping the Postal Servie's new network in Congress appears limited, as Congressman Dennis Ross has indicated support for the Postal Service's actions in an interview with the Government Executive. "The rightsizing and pension changes suggested are dramatic and are encouraging," he said. "I remain hopeful that any USPS transformation will serve as a model for other government agencies in how to adapt to the 21st century."

What is most telling in Congressman Ross's quote is how he wants the USPS transformation to "serve as a model for other government agencies in how to adapt to the 21st century." He looks at the Postal Service not as a quasi-government, quasi-business entity, but just another govenment entitiy.

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08.24.2011

Final July US printing/writing stats-weak (UBS/AF&PA)

The AF&PA released July US printing and writing stats today. Overall the data was weak. Shipments fell 7.2% y/y vs 5.5% drop in Jun. But July comp was c1000 basis points easier. Inventories rose about 6% m/m, to level not seen since Mar-10 (though only modestly above 2011 high). Imports rose modestly m/m while exports were stable.

Uncoated free shipments fell 4.7% y/y (worse than in prelim report) and are off 2.8% ytd. Inventories rose 5% (more than normal) off the 18 yr low in Jun. Trade was stable with US UCFS remaining a net exporter. Coated free shipments fell 3.7% y/y (-5.4% ytd). Inventories rose 5% m/m. Imports rose 22% y/y (+31% m/m). Coated groundwood shipments fell 13.5% y/y (-7.7% ytd). Inventories rose 14% m/m (to 2 yr high). Imports rose 12% y/y. Uncoated groundwood shipments fell 10.8% y/y (-8.8% ytd). Inventories rose in line with normal.

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08.24.2011

Barnes & Noble Expands its Industry-Leading NOOK Newsstand™ with Bestsellers FORTUNE, PEOPLE, SPORTS ILLUSTRATED, TIME, Parents and Fitness

Barnes & Noble, Inc., the world’s largest bookseller, announced today it is enhancing its best-in-class NOOK Newsstand, giving NOOK Color customers even more interactive versions of the country’s favorite magazines and newspapers. With the addition of top titles including FORTUNE, PEOPLE, SPORTS ILLUSTRATED, TIME, Parents and Fitness magazines, Barnes & Noble now offers more top 100 magazines than any other digital newsstand service. These newly added titles include a selection of interactive special editions optimized for NOOK Color’s stunning 7-inch color touchscreen with all the print magazine content along with an exciting array of bonus features. Print subscribers to FORTUNE, PEOPLE, SPORTS ILLUSTRATED and TIME can enjoy the NOOK Magazine™ versions on their NOOK Color at no additional cost. These new magazines and periodicals – totaling more than 200 – along with other enhancements can be enjoyed by NOOK Color customers through a free software update available at www.nookcolor.com/update or provided over the air (OTA) to customers connected to Wi-Fi beginning this week.

With the version 1.3 software update, millions of NOOK Color customers will get more from their favorite magazines than ever before. Starting with special edition versions of FORTUNE, PEOPLE, SPORTS ILLUSTRATED and TIME, Time Inc. will make all 21 of its U.S. titles including Real Simple, InStyle, Entertainment Weekly and Cooking Light available on NOOK Color by the end of the year. Additional special edition versions are expected this fall from Better Homes and Gardens and others. These NOOK Magazine special editions offer customers all of the great content in the current print edition, along with a host of extras, built right into the pages to get more of the story – from videos and audio podcasts, animations, photo galleries and other bonus features. With these embedded multimedia enhancements, magazine lovers will be able to watch celebrity interviews, see the week’s sports highlights, listen to podcasts, take quizzes, get how-to’s on arts and crafts, and even learn new exercises with fitness videos to stay in shape. These special editions also feature a portrait-centric reading experience that’s fun and simple to use, as well as the ability to get to desired content quicker. Just tap the article promoted right on the magazine cover or in the table of contents.

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08.24.2011

Penton Folds Second Magazine With August Issue

In addition to Penton Media folding 123-year old American Printer magazine, Penton's PFFC (Paper, Film & Foil Converter) is also ceasing publication with its August issue (September editorial content will be posted to the website before the digital products fold as well).

Founded in 1927 as The Envelope Industry before taking on the Paper, Film & Foil Converter brand in 1953, PFFC targeted converting and package-printing professionals. PFFC won the 2008 "Publication of the Year" award from Printer's National Environmental Assistance center for its "Green Converting" issue in September 2007. Read the farewell note from editorial director Yolanda Simonsis here.

"These had become very small businesses for Penton, obviously as a function of the markets they happened to be in," Penton senior vice president of strategy & development Warren Bimblick tells FOLIO:. "For a period of 18 months or so, we've looked at all sorts of revenue models to reinvigorate these products but it got to the point where we realized there really was no model. They were not tied to other products such as tradeshows or robust data services where you can say, ‘Gee, the print product may be soft but it's a supporting part of a bigger brand.' The reality was we tried as hard as we could but if you're trying to grow the company you have to look at marginal products and refine the portfolio. The virtue of Penton is that we are highly diversified but sometimes diversification with small brands that don't have a growth profile is a bad thing."

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08.24.2011

MotorBoating Magazine Shutters Print Edition, Goes Online-Only

Bonnier’s MotorBoating magazine, a part of the Marine Group Network that includes Yachting and SaltWater Sportsman, is folding its print issue. The July/August 2011 installment will be its last.

Current print subscribers will be sent Yachting Magazine or another magazine of their choosing in place of MotorBoating, says group publisher/VP of Bonnier’s Marine and Aviation Group Glenn Hughes. Bonnier purchased the boating enthusiast title in 2008.

“Overall, the marine market has taken an incredible hit over the past three years, and that includes all our brands. MotorBoating was probably hit the worst because the 30-60 foot boat market it supported; boat sales have dropped off the table, down 70-80 percent, compared to 2007 vs. 2011,” says Hughes.

MotorBoating reported one of the highest percentage increases in consumer ad pages for first half 2011. FOLIO: sister publication min reports ad pages were up for the magazine 67 percent, from January-June 2010’s 170.63 pages to January-June 2011’s 285.67 pages.

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08.24.2011

Pacific Sunwear Announces Second Quarter Operating Results

Pacific Sunwear of California, Inc., a leading specialty retailer rooted in the action sports, fashion and music influences of the California lifestyle, today announced that net sales for the second quarter of fiscal 2011 ended July 30, 2011, were $214.9 million versus net sales of $218.3 million for the second quarter of fiscal 2010 ended July 31, 2010. Total Company same-store sales increased 1% during the period. The Company ended its second quarter of fiscal 2011 with 821 stores, as compared to 880 for the second fiscal quarter of 2010.

For the second quarter of fiscal 2011, the Company reported a net loss of $19.3 million, or $(0.29) per share, compared to a net loss of $23.5 million, or $(0.36) per share, for the second quarter of fiscal 2010. Results for the second quarter of fiscal 2011 and 2010 reflect the continuing impact of a valuation allowance against the Company's deferred tax assets. On a non-GAAP basis, using a normalized annual income tax rate of approximately 36%, the Company's net loss for the second quarter was $12.2 million, or $(0.18) per share, as compared to a net loss of $14.7 million, or $(0.22) per share, for the same period a year ago.

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08.23.2011

Catalyst Paper president seeking a merger partner

Formed a decade ago in a consolidation of British Columbia's coastal pulp and paper industry, Catalyst Paper is looking for a merger partner itself in a new round of corporate acquisitions Catalyst president Kevin Clarke says are inevitable for the paper and newsprint sector.

Clarke, who took over as Catalyst chief executive officer 14 months ago, said in an interview that positioning the company for a friendly takeover is one of his key objectives.

"This is not a healthy industry," he said of the North American paper products sector. "The only way it is going to get healthy is to consolidate.

"This industry has too much capacity. It needs to consolidate. It will consolidate, and we want to be in a position to do that," he said.

Clarke said Catalyst is not likely to be the acquisitor in any upcoming merger, unless it is something small that makes sense.

"We surely are not going to be an acquirer. We don't have the capital."

Catalyst has fallen from one of the mightiest public corporations headquartered in this province to a penny stock, Its stock traded in the $6 range a decade ago but has gradually slid lower, closing at 10.5 cents Wednesday on the Toronto stock exchange.

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08.23.2011

Crude Oil Advances for a Second Day on Fed Stimulus Hopes, Libyan Fighting

Oil advanced for a second day in New York on speculation that the Federal Reserve will take further steps to stimulate the economy and as fighting continued in the Libyan capital, Tripoli.

Futures climbed as much as 1.9 percent as the U.S. currency weakened, heightening the appeal of using commodities to protect against inflation. Stocks and U.S. equity-index futures jumped. Goldman Sachs Group Inc. (GS) said Libya’s oil production will recover more quickly than forecast after the “sudden takeover” of fields and export facilities by rebels. A U.S. government report tomorrow that may show U.S. gasoline inventories shrank last week while crude stockpiles rose.

“What’s really behind prices is the hope of a third round of quantitative easing,” said Eugen Weinberg, head of commodities research at Commerzbank AG in Frankfurt, who forecasts Brent will average $100 a barrel in the fourth quarter. “But at some point the market will need to adjust to reality. Given the probability of recession, Brent at $109 doesn’t feel right.”

Crude for October delivery climbed as much as $1.64 to $86.06 a barrel in electronic trading on the New York Mercantile Exchange, and was at $85.66 at 10:41 a.m. London time. The contract earlier fell as much as 0.4 percent. It gained 2.4 percent yesterday.

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08.23.2011

Hess Print Solutions Upgrades Proofing System to GRACoL and SWOP Specifications

Hess Print Solutions, a provider of accountable print performance solutions and other value-added services for catalog, publications, education and commercial printed products, announced today that the company has upgraded its color proofing system to GRACoL and Specifications for Web Offset Publications (SWOP) standards. Accepted as industry standard guidelines for achieving accurate, high-quality color printing, the GRACoL and SWOP upgrades will ensure the company's clients get the best color reproduction possible on every print job.

GRACoL and SWOP specifications are based on using the standards for printing on sheetfed or web offset presses which enables printers and publishers to accurately proof color regardless of the printer or paper used to create the proof. SWOP is also the accepted standard in web offset publication printing for ink colors and dot gain tolerances.

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08.23.2011

RR Donnelly Significantly Expanding Its Facility in Owensville, MO

Gov. Jay Nixon announced that RR Donnelly, which currently employs approximately 340 workers at its Owensville facility, is making a capital investment of $6 million and creating 105 new jobs at the plant.

“RR Donnelly is a global corporation that could have expanded operations at any one of its plants around the world, but chose to do so in Owensville, which is excellent news for the state and local economy,” Gov. Nixon said. “We will continue to fight every single day, for every single job, to keep our state’s economy moving forward. RR Donnelly’s creation of 105 new jobs is a major plus for both our manufacturing sector and the economy in general.”

The company began manufacturing operations at the Owensville plant in 2007, where it produces textbooks and workbooks for elementary and secondary education, educational testing manuals, trade books, business-to-business catalogs, healthcare manuals, and federal and state government publications.

Substantial growth in the educational and healthcare markets has led RR Donnelly to expand the facility. Last month, it added two new printing presses and is in the process of adding three new binding lines. To staff the new machines and operating lines, RR Donnelly will hire 105 new employees by the end of this year and have invested $6 million into the local economy.

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08.23.2011

Sales of Media Tablets to Reach 195 Million Units by 2015, Causing Paper Use in Magazines to Fall by 20%

Media tablets are on pace to become a ubiquitous, mass-market, consumer product faster than any-other previously released, technological device. The powerful implications of this rapid adoption on publication paper markets is the subject of a new study The Impact of Media Tablets on Publication Paper Markets, published by RISI, the leading information provider for the global forest products industry.

The market for media tablets – consisting of tablet computers (including Apple's iPad) and electronic readers (including Amazon's Kindle) – exploded in 2010. By the end of the first year of availability, over 15 million tablet computers were in use. In North America alone, the size of the electronic reader market almost doubled, with over 10 million in use. Early-on, signs of trouble for the publication paper market became clear: In 2010, the top free app in Apple's iTunes store was iBooks; A Morgan Stanley inquiry discovered that 42% of US tablet owners will cancel their print newspaper subscription; In May of this year, Amazon.com announced that ebook sales now exceed those of printed book sales in the U.S.

"Many graphic paper producers make their living selling paper to the publishing industry, those companies will be greatly affected by media tablets," explains John Maine, RISI's Vice President World Graphic Paper and Study Team Leader. "Significant demand impacts could come as soon as 2012."

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08.23.2011

Tronox Announces TiO2 Price Increases

Tronox Incorporated, on behalf of its subsidiary companies, today announced the following price increases for all TRONOX® titanium dioxide (TiO2) grades:

Effective October 1, 2011 or as contracts allow:
    • Latin America, minimum $500 per tonne
    • Europe/Middle East/Africa 500 Euros per tonne or $700 per tonne in U.S. Dollar markets.
    • Asia Pacific $500 per tonne

In addition, effective September 1, 2011 or as contracts allow:
• North America $0.10 per pound on select laminate, specialty and plastic grades

These increases are in addition to those previously announced. Other increases may be announced locally within each region.

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08.23.2011

AGI World and Shorewood Packaging Merge to Create a Global Leader in Specialty Packaging Solutions

International Paper and Atlas Holdings today signed a definitive agreement to combine their consumer packaging solutions businesses, pending regulatory approval and other customary closing conditions. As a result of the agreement, Shorewood Packaging and AGI World, two leading global specialty packaging companies, will become AGI-Shorewood, creating one of the largest and most innovative specialty packaging businesses in the world with operations in North America, Europe, Asia, Australia and Latin America.

"For more than a decade, Shorewood Packaging has been an important part of International Paper and has made many contributions to our company, particularly through leadership in innovation and creative services for customers," said Tom Kadien, senior vice president of International Paper's Consumer Packaging and IP Asia businesses. "By merging Shorewood with AGI, our employees and our customers will have many more options and opportunities in the future, and we will continue to be a strong partner in those efforts."

"We are excited about this combination, bringing together two businesses with great legacies and creating a new global leader with unparalleled capability to serve the world's premier consumer product, media and entertainment and tobacco companies," said Andrew Bursky, chairman of Atlas Holdings. "We are committed to building the new AGI-Shorewood around the needs of our customers, providing innovation, efficiency and exceptional service through an unrivaled network of global packaging and creative service facilities."

Once the transaction is complete, the new company will employ nearly 4,000 people and will operate 24 manufacturing facilities around the world. In addition, AGI-Shorewood will be a nimble supplier, strategically focused on its key consumer packaging, media and entertainment, and tobacco packaging markets, which include beauty and personal care, cosmetics and fragrance, healthcare and pharmaceuticals, consumer electronics, golf, confectionary and specialty foods and tobacco and specialty gravure.

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08.23.2011

NewPage to Initiate Downtime at Port Hawkesbury Mill

NewPage Corporation today announced that, based on its assessment of current market and economic conditions, it has decided to take downtime on both paper machines at its Port Hawkesbury mill in Nova Scotia, Canada. The downtime will begin September 10 for the mill's PM1 newsprint machine and September 16 for the PM2 supercalendered machine. NewPage will provide future updates on the mill based on an ongoing review of the situation and economic conditions during the anticipated downtime.

The decision was based on a combination of factors, including unfavorable exchange rates between the U.S. and Canadian dollars and high utility and shipping costs, which have rendered its Port Hawkesbury mill operations unprofitable for more than a year.

The company is announcing its decision now in order to mitigate the potential impact on customers and already has taken into consideration the planned downtime for future scheduling. NewPage expects to fulfill certain pre-existing orders for its supercalendered papers from its mill in Duluth, Minnesota, but does not produce newsprint from any other mill location and therefore will be unable to serve these customers during the downtime.

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08.23.2011

Gap Inc. Details Global Commitments to Sustainability and Supply Chain

Gap Inc. today released its fifth Social and Environmental Responsibility report, a comprehensive update on its supply chain operations, environmental programs and community investment efforts from 2009 to 2010.

"Gap Inc. takes seriously the importance of being a responsible company," Gap Inc. Chairman and CEO Glenn Murphy said today. “For nearly 20 years, we’ve worked to address some of the major challenges facing our industry and to operate our business in line with our value to do what’s right. While we’re not perfect, we’re proud of the progress made."

"To achieve lasting change, we need all apparel brands to commit to making ongoing improvements in the lives of garment workers and to the environment,” Murphy added.

Reducing the environmental impact of the company’s operations remains a top priority in the years ahead. Gap Inc. reported that 100 percent of its branded denim is made in compliance with the company’s Water Quality System, ensuring the wastewater from the laundries is properly treated before being discharged. In this report, the company also committed to reducing the absolute greenhouse gas emissions from its operations in the United States by 20 percent by 2015, when compared to 2008 levels. This follows an earlier 20 percent decrease in greenhouse gas emissions from 2003 to 2008.

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08.22.2011

American Printer to cease publication

Katherine O’Brien Editor-in-Chief at American Printer wrote on the American Printer website, "American Printer has published its last issue. There won’t be a September issue. Penton, our parent company, stuck with us through some mighty lean months, but ultimately, there was no foreseeable model to achieve profitability."

The history of the American printing industry is in the pages of Inland/American Printer.

In her farewell letter, O’Brien provides a footnote with the history of the publication:

Published under the auspices of Henry O. Shepard’s printing company, INLAND PRINTER debuted in October 1883. A few years later, Shepard created the Inland Printer Co. to keep his printing plant and publishing activities separate. In addition to publishing the magazine, the Inland Printer Co. produced technical books for the trade and operated the Inland Printer Technical School.

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08.22.2011

AbitibiBowater Gets $7.5 Million Rebate

Ontario has approved an initial rebate for Abibow of over $7.5 million based on the facility’s consumption for the 2010-2011 fiscal year. The approval was announced by Thunder Bay Atikokan MPP Bill Mauro.

“This program is the latest in a series of programs aimed at supporting our large industrial users. Combined with our Industrial Conservation Initiative, it will save the local AbiBow operation millions per year on a go-forward basis,” said Mauro.

Mauro Announces McGuinty Government Helping AbiBow to Keep Energy Costs Down, Protect Jobs

Ontario is helping AbitibiBowater pulp and paper mill in Thunder Bay reduce its electricity costs, stay competitive and protect approximately 500 jobs.

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08.22.2011

Aeropostale Reports Results for Second Quarter

Aeropostale, Inc., a mall-based specialty retailer of casual apparel for young women and men, today reported results for the second quarter of fiscal 2011, and provided guidance for the third quarter of fiscal 2011.

Diluted net earnings per share for the second quarter were $0.04 per diluted share, which included a non-recurring pre-tax benefit to the Company's gross profit of $8.7 million, or $0.06 per diluted share, resulting from the resolution of a dispute with one of the Company's merchandise vendors, surrounding prior period allowances. The Company reported net earnings of $0.46 per diluted share in the second quarter last year.

For the second quarter of fiscal 2011 net sales decreased 5% to $468.2 million, from $494.7 million in the year ago period. Same store sales for the second quarter decreased 14%, compared to a same store sales increase of 4% last year. Year to date net sales decreased 2% to $937.4 million, from $958.3 million in the year ago period. Year to date, same store sales decreased 10%, compared to a same store sales increase of 5% in the year ago period.

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08.22.2011

Brent Crude Slides as Libyan Rebels Enter Tripoli; Premium to U.S. Narrows

Brent crude fell in London, narrowing its record premium to the main U.S. oil grade, as investors bet that Libyan production may recover after rebels entered the capital city of Tripoli in a push to force out Muammar Qaddafi.

The European benchmark contract tumbled more than 3 percent amid speculation Qaddafi’s regime is crumbling, while New York crude erased declines. Libya’s output dropped to 100,000 barrels a day last month, a Bloomberg News survey showed. That’s less than 10 percent of the 1.6 million barrels the nation pumped before the uprising started in February.

“If the rebels continue to gain control as more liquidity comes into the oil market we could see prices fall more,” said Torbjoern Kjus, a senior analyst at DnB NOR ASA in Oslo who predicts Brent will stabilize at about $100 a barrel. “We have no idea right now how much the oilfields and infrastructure have been damaged. But all the incentives are there for western companies and countries to get production back as quickly as possible.”

Brent oil for October settlement dropped as much as $3.47 to $105.15 a barrel on the London-based ICE Futures Europe exchange, and was at $106.39 at 10:26 a.m. London time. The contract was at a premium of $23.62 to West Texas Intermediate, the main U.S. grade, compared with a record $26.21 at settlement on Aug. 19.

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08.22.2011

The Bon-Ton Stores, Inc. Announces Second Quarter Fiscal 2011 Results

The Bon-Ton Stores, Inc. today reported results for the second quarter of fiscal 2011 ended July 30, 2011.

Second Quarter Highlights: Comparable store sales decreased 1.5%. Gross margin rate was 37.2% of net sales compared with 38.0% in the prior year period. Operating loss totaled $11.8 million, compared with an operating loss of $6.4 million in the second quarter of fiscal 2010.

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08.22.2011

Nippon Paper Group to Use Wood Rubble from the Great East Japan Earthquake as Fuel at Ishinomaki Mill

The Ishinomaki Mill (Ishinomaki City, Miyagi Prefecture) of Nippon Paper Industries Co., Ltd. (President: Yoshio Haga), the main company of the Nippon Paper Group, has started in-house power generation at its N1 turbine, attached to biomass Boiler 1, which commenced continuous and full-scale operation on August 20. In association with that, the Group has decided to incinerate wood rubble (hereinafter "rubble") from the Great East Japan Earthquake at the Ishinomaki Mill, at the request of the governor of Miyagi Prefecture, and at the same time to use it as fuel to generate power.

Boiler 1 at the Ishinomaki Mill, which started full-scale operation, uses wood waste as fuel. Through consultation with Miyagi Prefecture, the Group has decided to break up rubble in the Ishinomaki area (Ishinomaki, Higashimatsushima, and Onagawa) and burn it in the boiler as fuel. The Group has already been bringing in rubble to the Ishinomaki Mill on a trial basis since August 22. Once an agreement is concluded with Miyagi Prefecture, the Group plans to use 120,000 tons of rubble per year as fuel. Part of the electricity, up to 40,000 kilowatts (electricity for 100,000 households), generated at the Ishinomaki Mill is supplied to Tohoku Electric Power Co., Inc. The Group started electric power transmission on August 21.

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08.22.2011

Pactiv to Open Mexico City Facility

Pactiv Foodservice/Food Packaging, North America’s largest supplier of packaging for the food service industry, announced its intention to open a new multi-million dollar facility in Mexico City to better service the growing Mexican market.

Pactiv Foodservice/Food Packaging already has facilities in Guadalajara and Monterrey supplying Cups, Foam Trays, Clear Plastic Containers and Cutlery to the Mexican market. The proposed new facility will offer a full range of paper, foam and plastic cups and tableware providing a more comprehensive and complete product offering.

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