Paperclips Blog | International Paper Results

05.22.2013
Best Buy Reports Better-than-Expected First Quarter Results

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

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

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

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

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05.22.2013
DICK'S Sporting Goods Reports First Quarter Results

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

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

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

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

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

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05.22.2013
The Home Depot Announces First Quarter Results; Raises Fiscal Year 2013 Guidance

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

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

"In the first quarter, we saw less favorable weather compared to last year, but we continue to see benefit from a recovering housing market that drove a stronger-than-expected start to the year for our business," said Frank Blake, chairman & CEO.

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05.22.2013
Bonnier Corp. Builds on Dominance in Men’s Market — Acquires Multiple Motorcycle Brands

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

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

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

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05.22.2013
Walmart Responds to Oklahoma Tornado Tragedy

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

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

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

We will continue to work closely with the Salvation Army, Red Cross and other agencies to monitor further ways to help. For those interested in making donations, please connect with those agencies.

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05.22.2013
Allied Printing Services: Success Is Always in Style

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

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

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

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

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05.22.2013
Sappi Announces 2013 Printer of the Year Winners

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

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

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

The Sappi Printers of the Year competition continues to be highly regarded by the industry and is the only global contest of its type celebrating print excellence.

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05.22.2013
Atlas Holdings and Blue Wolf Capital to Acquire Twin Rivers Paper

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

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

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

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05.22.2013
Ahlstrom Announces Price Increases for Beverage Materials

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

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

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

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05.22.2013
Holmen to Further Reduce Its Papermaking Capacity by 10 Percent

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

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

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

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

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05.22.2013
Amcor Wins Three DuPont Packaging Innovation Awards

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

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

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

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05.22.2013
Smurfit Kappa Sets Out Vision on Sustainability

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

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

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

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05.22.2013
Paper Recycling: A Great American Success Story!

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

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

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

But that doesn’t mean we can’t do better. The paper industry has set a new goal to recover more than 70% of all U.S. paper produced by 2020.

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05.22.2013
Plant a Tree Today—We Do That 50 Million Times a Year
May 22 is the United Nations International Day for Biological Diversity. The day has traditionally been UPM’s Plant-a-Tree Day when tree planting events with different stakeholders have been organized. This year in Finland in four locations different groups have the opportunity to get acquainted with the forest and the importance of trees:
- In Laukaa UPM Silvesta, UPM’s subsidiary specialising in forestry work, together with city of Jyväskylä and several other local partners are organising an event for newcomers to the country
- In Pieksamäki in an open event UPM Silvesta’s new local franchising partner will give the audience advice on tree planting and forestry in general. Naturally all participants also have the opportunity to test tree planting in practice.
- In Eurajoki schoolchildren will plant trees together with UPM experts.
- UPM head office personnel have the opportunity to make a forest visit and plant trees in Loppi.
The International Day for Biological Diversity is also visible in Helsinki in the Esplanadi park: in the morning at 7:30 – 10:00 and in the afternoon from 15:00 onwards forestry students will distribute spruce seedlings grown in UPM’s Joroinen nursery to passers-by.

“The tree seedlings remind people of the International Day of Biological Diversity as well as of the long time span of sustainable forestry and the importance of forest regeneration as a central part of responsible forest management,” says Timo Lehesvirta, Director, UPM Environment.
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05.22.2013
Resolute Remains Committed to Sustainable Forestry Despite Breakdown of Discussions Under Canadian Boreal Forest Agreement

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

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

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

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05.22.2013
WTI Crude Drops a Second Day as U.S. Supplies Gain a Fourth Week

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

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

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

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

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05.22.2013
Data-Driven Marketing Is Ready to Rev Into High Gear

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

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

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

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05.22.2013
Google Checkout to Retire In November

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

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

The Wallet Objects API enables merchants to engage their customers with loyalty, offers and more. It was also announced that Google Wallet would be integrated into Gmail.

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05.21.2013
Hastings Entertainment, Inc. Reports Results for the First Quarter of Fiscal 2013

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

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

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

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

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05.21.2013
Urban Outfitters Reports Record Sales and a 39% Increase in Earnings

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

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

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

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

                                 Three Months Ended April 30,

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

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

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05.21.2013
Calling All Charities! Macy’s Hosts Eighth Annual “Shop For A Cause”

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

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

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

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05.21.2013
Pennsauken Printing Firm, in Hiring Boom, Looks to Expand

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

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

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

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

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05.21.2013
Wausau Paper Signs Deal to Sell Its Specialty Paper Business
Wausau Paper today announced that it has signed a definitive agreement to sell its specialty paper business to a new company sponsored by KPS Capital Partners L.P. (“KPS”), a New York-based private equity firm with significant experience in the paper industry. The new company will be known as Expera Specialty Solutions, LLC (“Expera”).

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

Key highlights of the transaction are as follows:
- The transaction will result in net cash proceeds to Wausau Paper of approximately $110 million after settlement of transaction-related liabilities, transaction costs and taxes.
- Expera will acquire the assets of Wausau Paper’s Rhinelander and Mosinee mills; the assets of the company’s Brainerd mill are not included in the transaction.
- Wausau Paper will retain defined benefit pension and other post-retirement benefit obligations; however, effective with the closing of the transaction, approximately $41 million of future liability will be eliminated.
- Wausau Paper will not hold any equity ownership in Expera.
- Wausau Paper will have the opportunity to receive a contingent payment that would be equal to what the holder of a 5% equity interest in Expera would receive if certain performance thresholds and KPS liquidity events occur.
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05.21.2013
Mohawk Introduces First iPhone Compatible Paper Notebook

Mohawk and DODOcase have joined forces to create a new product merging paper and pixels. It's called DODOnotes and it's the first iPhone compatible paper notebook.

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

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

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

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05.21.2013
Wal-Mart Goes Solar

Wal-Mart Stores, Inc. has installed eight solar photovoltaic (PV) arrays in Massachusetts.

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

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

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05.21.2013
North American POS market reaches $2B

Almost three in 10 (28%) of North American retailers plan to adopt mobile POS technology by the end of the year, according to a new study from IHL Group.

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

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

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

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05.21.2013
WTI Crude Trades Near Seven-Week High as Stockpiles Seen Falling

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

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

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

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05.21.2013
Accenture Acquires Acquity

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

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

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

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05.21.2013
Implementing the Right Shipping Strategy

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

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

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

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

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05.21.2013
The Paper is the Circuit: Scientists Create Graphite-Based Paper Circuitry

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

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

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05.21.2013
HIG Capital Acquires Caraustar

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

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

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

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05.20.2013
Esquire Unveils "Esquire Weekly", The First-Ever Digital Edition of a Monthly Print Magazine

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

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

A new issue of Esquire Weekly will be available in the App Store every Thursday, except during the week when the print magazine hits newsstands.

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05.20.2013
Florida Say No to Amazon’s Sales Tax Deal

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

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

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

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

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05.20.2013
J.C. Penney’s Chief Promises to Realign Store and Web Inventory

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

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

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

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

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05.20.2013
Nordstrom’s Direct Sales Jump 25% in Q1

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

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

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

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

The merchant predicts its total sales will grow between 4% and 6% in 2013.

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05.20.2013
Abercrombie CEO Tries to Stem Backlash

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

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

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

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

On Thursday, the 68-year-old Jeffries said his "resurrected quote has been taken out of context." But he stopped short of formally apologizing.

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05.20.2013
Tembec Reports Financial Results for its Second Quarter Ended March 30, 2013

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

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

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

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

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

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05.20.2013
Vancouver Printing Company Intercepts LSD-Laced Mail

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

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

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

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

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05.20.2013
Harrisburg Printer Expanding Through Campus-Style Collaborations

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

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

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

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

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

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05.20.2013
Tembec Announces Closing of the Sale of its NBSK Pulp Mill in Skookumchuck, British Columbia

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

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

Approximately 280 employees are included in the transaction. Tembec acquired the pulp mill in 1999 as part of the acquisition of Crestbrook Forest Industries Ltd.

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05.20.2013
Crowdsourced Packaging at Wrigley and Heineken

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

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

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

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

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

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05.20.2013
Ilim Group Partners the All-Russian Forest Planting Day

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

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

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

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05.20.2013
Technology Is Changing the Way We Market—and Spend

Do the math, says Laura McLellan, Research VP in Gartner's Marketing Leaders research group. Marketing budgets are greater than IT budgets, and growing—whereas IT budgets are fairly flat.

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

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

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05.20.2013
CMOs and CIOs Fight for Customer Centricity

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

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

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

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05.20.2013
WTI Crude Halts Three-Day Advance; Syria Starts Offensive

West Texas Intermediate crude snapped a three-day gain. Syrian government forces started an offensive against rebels, renewing concern that conflict may destabilize the Middle East.

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

“Syria is a microcosm of the unrest across the Middle East and could spread to other countries,” said Christopher Bellew, a senior broker at Jefferies Bache Ltd. in London.

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05.17.2013
Retail Sales Rebound In April; Increase 0.6 Percent

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

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

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

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

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05.17.2013
J.C. Penney Reports 2013 Fiscal First Quarter Results

J. C. Penney Company, Inc. today announced financial results for its fiscal first quarter ended May 4, 2013. For the quarter, jcpenney reported a net loss of $348 million or $1.58 per share. Excluding restructuring and management transition charges and non-cash primary pension plan expense, adjusted net loss for the quarter was $289 million, or $1.31 per share.

Total sales in the first quarter were $2.635 billion, a decrease of 16.4 percent from $3.152 billion in the same period last year. Comparable store sales decreased 16.6 percent for the quarter and were negatively impacted by the ongoing transformation of the home department.

For the quarter, gross margin was 30.8 percent of sales, compared to 37.6 percent in the same period last year. Gross margin was negatively impacted by lower than expected sales, a higher level of clearance merchandise sales and a return to some promotional activity towards the end of the quarter. SG&A expenses decreased $82 million compared to last year's first quarter. As a percent of sales, SG&A expenses increased 410 basis points to 40.9 percent of sales. Total non-cash primary pension plan expense was $25 million. As a percent of sales, total operating expenses were 49.3 percent in the first quarter.

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05.17.2013
Walmart reports a 4.6 percent increase for Q1 EPS of $1.14

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

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

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

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

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

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

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

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

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

The company returned $3.8 billion to shareholders through dividends and share repurchases in the first quarter.

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05.17.2013
Wal-Mart’s online sales grow more than 30% in Q1

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

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

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

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05.17.2013
Hearst Magazine International Announces Launch of Totally Global Media

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

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

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

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