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03.14.2012
Safeway Inc. today furthered its commitment to sustainability and the preservation of global forests by announcing that its consumer brand Softly bath and facial tissue and Ultra Thirsty paper towels are now produced to the high environmental and social responsibility standards of the Forest Stewardship Council(TM) (FSC®) and the Rainforest Alliance. Shoppers can identify FSC-certified and Rainforest Alliance-certified(TM) products by the respective FSC logos and seals on every package.
Safeway strives to source raw materials that are responsibly produced and that have a certified chain of custody. The Forest Stewardship Council uses third-party experts to verify forest management practices and track materials as they are selectively harvested from the forest and become products downstream. Incoming paper fiber is classified into two groups, certified fiber and controlled wood fiber. FSC-certified paper products are produced with fiber sourced from suppliers who have been independently certified to follow the strictest standards in sustainable, ethical forestry management and production chain controls.
"With forest resources under stress, it is important we lead by walking the talk in our environmental specifications for paper and help drive meaningful sustainability improvements in the supply chain," said Don Davidson, Safeway Vice President, Strategic Sourcing.
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03.14.2012
KBA North America announces that Royal Paper Box, a leading Montebello, CA folding carton converter, has made an impressive new addition to its pressroom: a new KBA 41-inch sheetfed press. The prestigious firm caters to a globally diverse customer base including high-end cosmetics and demanding bio-medical packaging.
“We feel the addition of the KBA press has significantly enhanced and complemented our pressroom,” says Jim Hodges, president of Royal Paper Box, who recently won the 2011 Robert T. Gair Award from the Paperboard Packaging Council (PPC), its highest distinction. The award recognizes individuals who have demonstrated a lifetime of significant and lasting contributions to the paperboard packaging industry.
For Royal Paper Box, which is a global leader in the packaging field, the new KBA brings numerous advantages. With its powerful ability to print at high speeds, its automation brings efficiency gains in makeready and running speeds and it will improve production scheduling while reducing costs.
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03.14.2012
SCA is one of the world’s most sustainable companies – environmentally, socially and financially. The company is now further raising its ambitions through the introduction of a number of new targets. According to a recent SCA survey, sustainability activities are significant for the business operation.
“Sustainability activities are business-critical for SCA and give us an edge over competitors. Our ambitious work makes us more attractive for customers, consumers and investors, while it also contributes to lower costs,” said Jan Johansson, SCA’s President and CEO, at a press meeting in Stockholm today where the new targets were presented.
SCA recently performed a survey which showed that sustainability activities play an important role in relationships with customers. As many as 41% of respondents said that they had participated in contract negotiations in which sustainability was the deciding factor for the outcome.
Measurability and access to relevant key performance indicators are crucial factors in ensuring successful sustainability programs. Systematic preparatory work has resulted in a number of specific new targets:
Triple production of biofuels from SCA’s forests by 2020
Increase wind power production on SCA forest land to 5 TWh by 2020
Set aside at least 5% of SCA’s productive forestland from forestry in the ecological landscape plans and a further 5% for nature conservation purposes
Decrease the accident frequency rate by 25% between 2011 and 2016
Make SCA’s hygiene knowledge base available to customers and consumers and ensure access to affordable, sustainable hygiene solutions
Deliver better, safe and environmentally sound solutions to customers through sustainable innovation.
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03.14.2012
Smurfit Kappa has announced a three-year £98 M investment plan in its Townsend Hook, Kent, paper-making facility. The installation and commissioning of a custom designed, five metre, lightweight recycled container board machine is due to be completed and operational by the end of 2014. This will secure the supply of paper for all of Smurfit Kappa’s packaging operations in the UK and Ireland.
The new machine will produce lightweight corrugated papers, for use in Smurfit Kappa integrated plants meeting market requirements for high efficiency and sustainable, recycled paper-making .The cost associated with the project will be phased over 3 years and will be within the scope of SKG’s stated annual capital expenditure guidance. The outlay represents one of the largest investments by an established UK paper manufacturer and is a significant sign of Smurfit Kappa’s commitment to its customers.
The equipment sourced from Cartiera di Cadidavid will replace two existing container board machines, increasing Townsend Hook’s capacity of FSC certified, recycled paper per annum by over 8% from 240,000 to 260,000 tonnes.
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03.14.2012
OPEC’s crude oil production rose for a fifth month to the highest in more than three years as Saudi Arabia and Libya boosted supply, according to the International Energy Agency.
The 12 members of the Organization of Petroleum Exporting Countries produced 31.42 million barrels a day of crude last month, the most since October 2008, the Paris-based agency said today in its monthly oil market report. That compares with a revised 31.11 million in January and exceeds the group’s 30 million output ceiling set at its December meeting.
The IEA’s production figure differs from OPEC’s own estimate of 30.97 million in its monthly report on March 9, which is based on secondary sources.
Saudi Arabia, the world’s largest crude exporter, pumped near a three-decade peak at 10 million barrels a day last month, up from 9.85 million in January, the agency said.
“The increased Saudi volumes in February were heading to Europe and Africa, tanker data indicate, rather than Asia as might be expected,” the IEA said.
Saudi will probably produce 9.8 million barrels a day this month, roughly matching last month’s level, a person with knowledge of the kingdom’s oil policy said today. According to OPEC’s monthly report, Saudi output fell to 9.66 million barrels a day in February.
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03.14.2012
Net sales for 2011 were $3,502 million compared to $3,596 million for 2010, a decrease of $94 million or 3%. Net sales were affected primarily by higher paper prices, more than offset by lower sales volume. Average paper prices increased to $886 per ton in 2011 compared to $823 per ton in 2010. Sales volume decreased to 3,954,000 tons in 2011 compared to 4,370,000 tons in 2010 as a result of the shutdown of the Whiting mill in February 2011 and the Port Hawkesbury mill in September 2011.
Net income (loss) was $(524) million in 2011 compared to $(693) million in 2010. Consolidated Adjusted EBITDA, as defined by the DIP Credit Agreement, was $324 million in 2011 compared to $284 million in 2010.
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03.14.2012
Magazines have long blamed their continuing newsstand declines on everything from gas prices to store layouts -- everything but demand for magazines themselves.
But there's something interesting happening over the border to the north: Newsstand sales aren't falling anywhere near as much.
While U.S. magazines' newsstand sales were down 10% in second half-2011 year-over-year, for example, Canadian titles slipped 2.4% at newsstands, according to publishers' reports with the Audit Bureau of Circulations.
Smaller declines for Canada have been the newsstand norm in recent years -- except in the second half of 2010, when U.S. magazines fell 7.3% year-over-year, while their Canadian peers grew 6.1%. U.S. magazines haven't turned in a year-over-year newsstand increase for at least a decade, according to the Audit Bureau of Circulations.
If all of this seems like just another frustration for U.S. publishers, it isn't. Several of the reasons that Canadian newsstands are doing better support U.S. publishers' argument that long-term reader demand is only part of the problem. Some of the other problems are temporary, unrelated to magazines, or both.
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03.14.2012
Transcontinental’s Inc. revenues decreased by 4% in the first quarter, from $514.8 million to $495.9 million, driven primarily by the sale of its black and white book printing business, destined for U.S. exports, completed last September, which was part of the asset swap transaction in which it acquired Quad/Graphics Canada on March 1st. Revenues were also impacted by lower volume from the non-recurring revenue from the printing contract for the Canadian Census last year and to a lesser extent, the printing of magazines and books. This first quarter decrease was mitigated by the Media sector, most notably from the growth of its digital media and community newspaper businesses, as a result of recent investments. Consolidated revenues are expected to return on a growth path over the next year given the contribution from the Quad/Graphics Canada acquisition as well as other contracts such as Canadian Tire.
For this same period, adjusted operating income decreased 12%, from $48.7 million to $43.0 million, driven primarily by the Media sector due to a softer advertising environment coupled with continued competitive pressures in the local solutions marketplace and to a lesser extent by lower first quarter volume in the Printing sector. Net income applicable to participating shares decreased from $25.7 million, or $0.32 per share, to a loss of $33.3 million, or $0.41 per share. This decrease is mainly due to a tax provision of $58.0 million related to notices of re-assessment, which the Corporation intends to contest, pertaining to deductions on investments in capital assets made by the Corporation, as well as interprovincial allocation of income. Excluding unusual items, adjusted net income applicable to participating shares decreased 6%, from $28.8 million, or $0.36 per share, to $27.1 million, or $0.33 per share.
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03.14.2012
Pacific Sunwear of California, Inc., announced today that net sales from continuing operations for the fourth quarter of fiscal 2011 ended January 28, 2012, were $234.2 million versus net sales of $237.6 million for the fourth quarter of fiscal 2010 ended January 29, 2011. Total Company same-store sales were flat during the period. The Company ended fiscal 2011 with 733 stores, as compared to 852 as of the end of fiscal 2010. The Company closed 87 stores in the fourth quarter of fiscal 2011.
Fourth Quarter Results: On a GAAP basis, the Company reported a net loss of $38.1 million, or $(0.56) per share, for the fourth quarter of fiscal 2011, compared to a net loss of $35.2 million, or $(0.53) per share, for the fourth quarter of fiscal 2010. The net loss for the Company's fourth quarter of fiscal 2011 also included a non-cash loss of $5.0 million, or $0.08 per share, related to a derivative liability that resulted from the issuance of the Convertible Series B Preferred Stock (the "Series B Preferred") in connection with the term loan financing the Company completed in December 2011 which was not reflected in its prior guidance.
On a non-GAAP basis, excluding store closure charges of $7.2 million and the non-cash loss on derivative liability of $5.0 million (net of tax effects), and using a normalized annual income tax rate of approximately 37%, the Company's net loss for the fourth quarter of fiscal 2011 would have been $13.1 million, or $(0.19) per share, as compared to a net loss of $20.6 million, or $(0.31) per share, for the same period a year ago.
"Our sales trends improved as we moved further into the Holiday Season resulting in flat comparable store sales for the quarter and an improvement in merchandise margins, compared to the fourth quarter last year," said Gary H. Schoenfeld, President and Chief Executive Officer. "We similarly finished the fiscal year with nearly flat same-store sales and remain focused on the key merchandising, in-store and digital initiatives that we believe are critical to successfully rebuilding the PacSun brand and our position in the marketplace."
Full Year Results: Total net sales from continuing operations for fiscal 2011 were $833.8 million versus net sales of $837.1 million for fiscal 2010. Total Company same-store sales declined 1% during fiscal 2011.
On a GAAP basis, the Company reported a net loss of $106.4 million, or $(1.60) per share, for the 2011 fiscal year, compared to a net loss of $96.6 million, or $(1.46) per share, for the 2010 fiscal year.
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03.13.2012
AEP Industries Inc. today reported financial results for its first quarter ended January 31, 2012.
Net sales for the first quarter of fiscal 2012 increased $50.0 million, or 23%, to $267.7 million from $217.7 million for the first quarter of fiscal 2011. The increase was the result of an increase in average selling prices primarily attributable to the pass-through of higher resin costs to customers during the comparable periods, combined with a 5% increase in sales volume excluding Webster. The acquisition of Webster added $29.7 million in net sales and 19.4 million pounds sold during the first quarter of fiscal 2012.
Gross profit for the first quarter of fiscal 2012 was $34.7 million, an increase of $5.1 million, or 17.4 percent, compared to the comparable period in the prior fiscal year. The Company experienced a $3.3 million increase in the LIFO reserve during the first quarter of 2012 versus a $4.1 million increase in the LIFO reserve during the first quarter of 2011. Excluding the impact of the LIFO reserve change during the periods and $2.4 million in gross profit contributed from Webster, gross profit increased $1.9 million primarily due to increased sales volumes and improved plant utilization.
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03.13.2012
Amcor Flexibles is proud to announce winning two Alufoil Trophies from the European Aluminium Foil Association (EAFA). The company received the Overall Excellence Award won with Amcor Canny in recognition of high scores in four of five categories - Marketing + Design, Consumer Convenience, Technical Innovation and Resource Efficiency - and the Product Preservation Award won with Amcor Formpack DessiflexTM Plus.
Amcor Canny is the fantastic result of over two years of development by Amcor Flexibles to produce the first wrinkle-free aluminium thin wall bowl. Primarily aimed at premium or indulgence food markets, it is designed to meet the needs of customer convenience for products which appeal to all ages.
Among the many practical and attractive product features, the bowl is smooth and pleasant to touch. With its easy peelable membrane it makes opening child's play and reduces spillage. The absence of sharp edges removes any risk of injury and makes Amcor Canny ideal for taking the food directly out of the bowl with the spoon or simply with fingers. The inside coating of Amcor Canny is BPA free formulated, unlike traditional food cans, which will undoubtedly be a major factor for companies currently concerned about the latest legislation developments in Europe. Furthermore, empty units are unestable, which can save up to 90% on space during transportation and storage.
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03.13.2012
Advertising spending in the U.S. totaled $144.0 billion last year, an increase of 0.8% over the previous year, according to data released by Kantar Media. Ad spending declined in the fourth quarter, dipping 1.0%, Kantar said.
Ad spending in b2b magazines also increased 0.8% last year, even with a drop of 0.8% in the fourth quarter of the year. Internet advertising, which has been the engine powering advertising growth in recent years, increased just 0.4% and declined 6.2% in the fourth quarter. Paid search fell 2.8%, a decline that accelerated to 6.4% in the fourth quarter. Online display advertising increased 5.5%, but declined in the fourth quarter, falling 5.9%
Overall, television advertising remained steady, posting an increase of 2.4% last year and an increase of 3.1% in the fourth quarter.
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03.13.2012
Flint Group North America has announced a price increase on black coldset inks, effective April 1, 2012, subject to existing contracts. Prices will increase by US$0.04 per pound (CAD$0.09 per kilo) for black coldset inks used to print newspapers, directories, books and web-coldset commercial applications.
Increased global demand for certain petroleum-derived raw materials, coupled with the increased price of crude oil, has raised the costs of the primary materials used to produce black coldset inks. Specifically, costs of refined naphthenic oils and carbon black have sharply increased.
The number of naphthenic oil refiners has decreased over time. A few remaining North American refiners now supply the majority of worldwide demand, exporting a significant amount of their production overseas.
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03.13.2012
Oil rebounded from the lowest price in almost a week as investors bet that fuel demand may increase amid signs the U.S. and Chinese economies are strengthening.
Futures gained as much as 0.7 percent in New York after losing 1 percent yesterday. U.S. retail sales rose in February by the most in five months, according to a Bloomberg News survey before today’s Commerce Department report. China’s industrial output growth will pick up in March and April, a former industry minister said. Oil has climbed this year on concern tension with Iran may lead to military conflict in the Middle East, where more than half the world’s oil reserves are located.
“Oil prices have been bolstered by better-than-expected leading indicators and ample liquidity,” said Hannes Loacker, an analyst at Raiffeisen Bank International AG (RBI) in Vienna who predicts U.S. futures will average $104 a barrel this year. “Chinese economic growth should be strong enough to prevent the oil price from falling too sharply.”
Oil for April delivery rose as much as 79 cents to $107.13 a barrel in electronic trading on the New York Mercantile Exchange. It was at $106.82 at 10:28 a.m. London time. The contract yesterday fell $1.06 to $106.34, the lowest settlement since March 7.
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03.13.2012
The Sports Illustrated Golf Group [SIGG] expands its live event coverage this spring with a “supervertical” dubbed Sports Illustrated At the Majors. This multi-platform editorial campaign, which will produce content for SI.com, Golf.com and adjacent print properties, will go live at four events (the Masters, US Open, PGA Championship and the Ryder Cup) beginning in April.
“The efforts are all about trying to find new ways to give our editorial team a chance to directly engage with golf fans and consumers,” says Dick Raskopf, SIGG publisher. “For the advertisers, many of them see this as a one-on-one opportunity to engage with consumers as well.”
SI will set up an editorial studio at each event, a host tent for writer round tables, live broadcasts and mini individual golf lessons from Golf Magazine’s Top 100 Teachers (a group of the nation’s best golf pros, as voted by their peers). Jim Herre, managing editor of SIGG, says SI’s video production cycle will be tripled during these events.
“We thought we should build our own studio, particularly at the Masters, as they limit the amount of videographers that are allowed on the grounds,’” says Herre. “We’re also opening the studio to anyone who wanders in.”
Those who do end up in the pop-up studio will be offered a RFID (Radio Frequency Identification) wristband. After consumers register with the ID system, the bracelet will automatically update the user’s Facebook account with news, status changes and personalized Sports Illustrated covers fans will be encouraged to pose for.
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03.13.2012
Which three group publishers produced the highest ad-page gains overall in 2011? Perhaps not what you expect. Compared with 2010, where the big winners were the marquee mass-market group publishers Condé Nast, Hearst Magazines and Time Inc (see the 2010 chart below), the 2011 leaders have fewer titles in their magazine repertoires. Source Interlink Media (+3.85%—thanks to Power & Motoryacht, which was sold to Active Interest Media) and two smaller groups, American Express (+6.01%—with the help of the huge percentage gain from the bimonthly Departures) and Intermedia Outdoors (+7.58%—largely due to the success of Handguns) led group publishers for the year.
Source Interlink Media in 2012: With Power & Motoryacht out of the picture, it is full speed ahead for Source Interlink Media's auto enthusiast group. Case in point is the launch of the Motor Trend Channel, which is available on YouTube. The channel will provide original programming in conjunction with SIM brands: Motor Trend, Hot Rod, Diesel Power, 4Wheeler, Motorcyclist, Truckin’, Import Tuner and Lowrider. Talk about branding! The new channel extends the print mags through video, web and mobile.
American Express Publishing: “I’m proud of the performance of our luxury lifestyle-focused brands during what proved to be a very successful 2011 for us, said AmEx Publishing president/CEO (since June 2000) Ed Kelly. "This year [2012], we’re continuing to reach our affluent consumer base with greater frequency and new products in the digital, mobile and social media space. It’s about getting our authoritative and trusted content into the hands of our customers when, where and how they want it.”
Intermedia Outdoors: IM Outdoors CEO Jeff Paro told min, "In today’s media world, page growth is one barometer of magazine brand success. In 2011 IMO’s 15 enthusiast magazine brands continued aggressive diversification beyond the pages. IMO re-launched a 16-site digital network and developed rich media products for the iPhone, iPad, and the Web. [Included is] Guns & Ammo Point of Impact, a sponsored interactive game with over 2.8 million downloads to date."
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03.13.2012
Arandell, announced today that they received 1st and 3rd place in the 2011/2012 Web Offset Association’s Print Awards, held annually by the Printing Industries of America.
Arandell’s 1st place award was for producing Brooks Brothers Gift Guide 2011, using heatset printing 4/color on coated paper (perfect bound). Arandell was also commended for Zingerman’s 2011 Fall Buyers Guide which was produced using heatset printing 4/color on uncoated paper. The catalogs were assessed on registration, level of difficulty, folding / binding / finishing and overall craftsmanship of product.
Jim Treis, Arandell Executive Vice President of Sales and Marketing, stated, “The WOA Print Awards demonstrate the hard work and tireless effort our teams put forth to create a flawless artistic marketing piece. Having the opportunity to win a category is not an easy challenge and something to be very proud of.”
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03.13.2012
The brand-owning Consumer Packaged Goods companies of the world are looking to digital printing as a way to shorten package design cycles and reduce inventory of packaging materials.
That was a key message delivered this morning at the HP Pre-drupa 2012 event in Tel Aviv, Israel.
“The pull from brands is stronger than ever,” said Alon Bar-Shany, vp/general manager of the Indigo Digital Press Division, in a coffee break following this morning’s opening session in Tel Aviv. Other conversations at the HP event last night and this morning confirm this keen interest in digital printing on the part of CPG companies. It has everyone anticipating a strong showing by brand owners at drupa 2012 May 3-16 in Dusseldorf, Germany.
In response to this growing brand-owner interest in digital printing, HP Indigo is unveiling two new presses designed specifically to make digital printing more suitable for folding cartons and flexible packaging. This is significant because to this point digital printing’s applications in the packaging arena have been primarily in labels. By introducing the web-fed HP Indigo 20000 for flexible packaging and the sheet-fed HP Indigo 30000 for folding cartons, HP Indigo seeks to move more firmly into the mainstream flexible packaging and folding carton markets.
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03.13.2012
HP will introduce 10 digital printing systems at drupa that offer print service providers (PSPs) greater versatility, productivity and quality, including the first 29" HP Indigo press and higher-speed HP Inkjet Web Presses.
The improved performance of the new portfolio helps PSPs extend the advantages of digital even further into traditional analog print markets and produce more high-value personalized or custom materials for their clients. The 10 new systems include: • Three next-generation 29-inch-format HP Indigo presses capable of producing almost any commercial print job and a much broader range of packaging applications. • Three updated models of the current HP Indigo portfolio with higher speeds in Enhanced Productivity Mode (EPM). • Three higher-speed HP Inkjet Web Press models featuring advanced ink and printhead technology. * A new HP high-speed imprinting solution for adding monochrome or full-color content to preprinted offset materials.
New offerings also include: • A white ink kit, automatic loader and HP SmartStream Production Analyzer monitoring solution for HP Scitex industrial presses. • A range of new HP SmartStream workflow and finishing solutions, HP Hiflex management information systems (MIS) and web-to-print solutions, and an expanded services organization. • New media for the HP Inkjet Web Press systems, including the first coated glossy paper with ColorPRO technology available from Appleton Coated. • New HP Indigo preferred media partner agreements with Sappi, Avery Dennison, Mitsubishi and ArjoWiggins Graphics.
HP will display the new solutions May 3-16 at drupa 2012 in Düsseldorf, Germany, where HP will be the largest digital printing exhibitor and will have the second-largest booth at the show.
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03.13.2012
Mercer International on Friday announced that, on appeal, the Court of Quebec has ruled in favour of Mercer and Fibrek Inc., reversing the decision of the Bureau de decision et de revision (Quebec) (the "Bureau") dated February 23, 2012.
As previously announced, on February 23, 2012, the Bureau issued a cease trade order against the private placement by Fibrek of 32,320,000 special warrants to Mercer at a price of C$1.00 per special warrant (the "Private Placement").
Jimmy S.H. Lee, Mercer's President and Chief Executive Officer, stated: "We are very pleased with the result of this appeal, believing the Court of Quebec's decision properly reflects applicable securities and corporate law principles. We now look forward to effecting our offer to acquire all of the outstanding common shares of Fibrek, which was mailed to Fibrek shareholders on February 29, 2012 (the "Offer") and completing the Private Placement."
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03.13.2012
Catalyst Paper Corporation announced today that the company has entered into an agreement (the Agreement) with certain holders of its 11% senior secured notes due 2016 (Senior Secured Notes) and 7 3/8% senior notes due 2014 (Senior Notes) with respect to a plan of arrangement under the Companies’ Creditors Arrangement Act (CCAA). The company filed for protection under the CCAA on January 31, 2012.
Catalyst Paper and its Board of Directors believe that entering into the Agreement and the restructuring transactions set out in the Agreement that will form the basis of Catalyst’s plan of arrangement are the best alternative available to the company and its noteholders, shareholders and other stakeholders. The proposed plan of arrangement will address Catalyst’s current debt level, preserve jobs and preserve Catalyst’s business as a going concern for the benefit of all stakeholders and the communities in which Catalyst operates.
“The proposed plan of arrangement provides the opportunity to reposition Catalyst Paper for the future at this very challenging time for the entire paper and pulp industry,” said Kevin J. Clarke, President and Chief Executive Officer. “There are many interested parties involved and we are continuing to work hard to address the requirements that will enable us to finalize this transaction in a timely and effective manner.”
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03.13.2012
Vision Integrated Graphics, a leading full-service marketing solutions provider with locations in the Chicago area, has acquired Point Imaging, a national provider of grand-format sign and display imaging and installation services. Point Imaging President Kevin Huseman will assume the role of chief strategy officer for the combined companies, initially focusing on driving increased business volume in the grand-format area.
Financial details of the deal were not disclosed. However, Vision’s management has said that Point Imaging’s 60,000-square-foot facility and all of its employees will be retained. The combined organization now has three locations in the Chicago area and about 235 employees.
“We have been partnering with Point Imaging for about a decade,” said Doug Powell, CEO of Vision Integrated Graphics. “By acquiring them at this time, we have taken a quantum leap in our production mix, adding Point Imaging’s high-volume point-of-purchase/point-of-sale/out-of-home capabilities to our streamlined workflow, digital and conventional printing services, Web-to-print and cross-media expertise.
“The acquisition expands our wide-format presence beyond our current roll-to-roll capabilities, including the ability to print direct to rigid substrates and a more robust array of grand-format print options. With this enhanced service offering, clients of both Vision and Point will benefit from this full range of services provided by a single highly responsive source. Our expectation is that this acquisition will be quickly integrated and accretive, due to our long-standing relationship and similar cultures,” Powell added
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03.13.2012
Urban Outfitters, Inc., a leading lifestyle specialty retail company operating under the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands today announced net income of $39.3 million and $185.3 million for the fourth quarter and the year ended January 31, 2012, respectively. Earnings per diluted share were $0.27 for the quarter and $1.19 for the year.
For the fourth quarter of fiscal 2012, total company net sales increased 9% over the same quarter last year to $731 million. Comparable retail segment net sales, which include the Direct-to-Consumer channels, increased 2% for the quarter, while comparable store net sales decreased 1% for the quarter. Comparable retail segment net sales at Urban Outfitters, Free People and Anthropologie increased 3%, 9% and 1%, respectively. Direct-to-Consumer comparable net sales increased 14% and wholesale segment net sales rose 3% for the quarter.
For the year ended January 31, 2012, total Company net sales increased to $2.5 billion, or 9%, over the prior year. Comparable retail segment net sales were flat while comparable store net sales decreased 4%. Direct-to-Consumer comparable net sales rose 14% for the year and wholesale segment net sales increased 11%.
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03.13.2012
Effective with shipments on or after April 2nd, Cascades Fine Papers Group will adjust its North American prices of the following products and their product derivatives. Transaction pricing will increase $3.00/cwt on rolls and list pricing will increase $1.50/cwt on sheets, folio/cut size.
Rolland Enviro100 Print; Rolland Enviro100 Satin; Rolland Enviro100 Digital; Rolland Enviro100 Book and Schoolbook; Cascades Enviro Kraft Print; Rolland Opaque50; Rolland Hitech50; All Envelopes grades.
All orders entered prior to March 12th, 2012, will be invoiced at the acknowledged price.
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03.12.2012
Grainger today reported sales results for the month of February 2012. Daily sales increased 18 percent versus February 2011. Results for the month included a 5 percentage point contribution from acquisitions. Excluding acquisitions, organic sales increased 13 percent, including 12 percentage points from volume and 3 percentage points from price, partially offset by a 2 percentage point decline from lower sales of seasonal products. February 2012 had 21 selling days, one more than February 2011. The 2012 first quarter will have the same number of selling days as the 2011 first quarter (64 days).
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03.12.2012
(Industry Intelligence) Uncoated papermaker American Eagle Paper Mills today announced roll price increases for the U.S. of US$30-US$60 per ton (US$1.50-US$3.00 per cwt), effective with April 9 shipments.
The affected “Eagle” grades are offset; PCW offset; converting grades; reply card 7pt.; white wove envelope; recycled/PCW white wove envelope; and kraft envelope.
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03.12.2012
AbitibiBowater Inc., doing business as Resolute Forest Products, today announced that it has applied for leave to appeal the Court of Québec's decision reversing the cease trade order on Fibrek Inc.'s private placement of 32,320,000 special warrants to Mercer International Inc. The cease trade order was issued on February 23 in a decision of the Bureau de décision et de révision (Québec). The appeal, if leave is granted, will be heard by the Québec Court of Appeal.
Resolute also announced that it has received a "no-action" letter from Canada's Commissioner of Competition, confirming that the Commissioner does not intend to challenge Resolute's acquisition of the Fibrek shares pursuant to its offer or any related subsequent transaction.
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03.12.2012
Oil fell from the highest price in more than a week after exports grew more slowly than forecast in China, the world’s second-largest crude consumer, signaling an economic slowdown.
Futures in New York slid as much as 0.9 percent, erasing last week’s gain. China had its biggest trade deficit last month in at least 22 years as Europe’s sovereign debt crisis damped exports, a March 10 report by the customs bureau showed. Overseas shipments increased 18 percent, less than a median estimate of 31 percent in a Bloomberg News survey. Hedge funds reduced bullish bets on oil for the first time in five weeks, according to the U.S. Commodity Futures Trading Commission.
“It’s a risk-off day,” said Carsten Fritsch, an analyst at Commerzbank Bank AG in Frankfurt who forecasts prices will decline further. “People have focused on the Chinese export numbers today, though given last month’s imports were super- strong we’re still expecting continued strong economic activity in China.”
Crude for April delivery fell as much as $1.02 to $106.38 a barrel on the New York Mercantile Exchange. It was at $106.49 at 10:46 a.m. London time. The contract rose 82 cents to $107.40 a barrel on March 9, the highest settlement since March 1.
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03.12.2012
R.R. Donnelley & Sons Co.'s Press+ released statistics highlighting growth in the efforts of media websites to begin charging for content.
“There are now 285 Press+ Affiliates deploying all kinds of digital subscription models. That's a revolutionary change in the last six months, and it's where the action is,” said Steven Brill, co-CEO of Press+, in a statement.
Press+ has added 265 of those sites within the past 12 months. Press+ said it has more than 200 companies with pending installations of the paywall platform.
Gordon Crovitz, Press+ co-CEO said, on average, users of the Press+ system allow readers 14 free page views per month before they begin charging. The average monthly price for digital-only users is $6.50 per month. For print subscribers, the average monthly price for digital access is $2.
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03.12.2012
The New Republic has been sold again. Facebook co-founder Chris Hughes has taken a majority stake in the almost 100-year-old magazine, reports the New York Times' Media Decoder. The deal comes three years after Martin Peretz bought it back from Canada's CanWest Global Communications, which bought the magazine from its owners, including Peretz, in 2007.
Rumors of a potential sale of the title broke out in January when the ownership group, which includes TNR Advisory Board chair Laurence Graftsein, Peretz, Pershing Square Capital Management's William Ackman, and Alter Group president Michael Alter, reportedly hired the Blackstone Group to put the magazine on the block.
Peretz was the magazine's part owner for more than 30 years and was editor-in-chief until January 2011 when he stepped down to become editor-in-chief emeritus.
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03.12.2012
More than two-thirds, or 68%, of U.S. Internet users say they dislike receiving ads targeted to them based on their prior online behavior because they don’t want their behavior tracked and analyzed, according to a new study from the Pew Research Center’s Internet and American Life Project.
The study also revealed that 65% of Americans think it’s a bad idea for search engines like Google to serve them search results based on their individual search histories, as consumers believe doing so may limit the information they see. Consumers also don’t want search engines collecting and analyzing their search behavior; 73% say they consider doing so an invasion of privacy.
Pew collected the data via phone interviews conducted in January and February with 2,253 adults. The survey found that search engines play an increasingly larger role in everyday life. 54% of survey respondents say they used a search engine yesterday, up from 35% who said the same in 2004. Consumers most likely to have used search within a day of the survey are young, college-educated and have household incomes of at least $50,000.
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03.12.2012
For magazine publishers the next-gen iPad’s “Retina Display” raises an interesting math problem. The doubling of resolution and pixel density opens up worlds of opportunity for crafting even more luscious visual experiences. But at what cost to consumers already frustrated with the massive files size of many digital editions? A posting last week by publishing and design consultant David Sleight ran the numbers and showed that since most magazine apps are based on sizable PDF and JPG files in order to optimize workflows with the print side, they result even in text pages that can be 150 to 350 kB in size. Optimizing such files for the big bump in resolution offered by the new iPad and he estimates we are talking about 2MB file sizes just for a single page.
Even if consumers don’t recoil at the download times associated with exponentially larger issue sizes, their iPads will. Apple has not increased the flash storage capacity of the new models. They still top off at 64GB at the high end.
Sleight says in his post:
“The question now before platform makers is whether they will begin exploring alternatives or will pass the pain along to users in the form of unsustainably large issue sizes. The three likely options on the table for them are: 1) Do nothing; 2) Start building dynamic layout and text rendering engines; or 3) Begin basing their platforms on Web technologies.”
This issue has become a new point of concern among several Web and app designers online. But according to magazine professionals we consulted, Apple’s move to higher resolutions, while not directly shared with publishers in advance, was not exactly an industry secret. And according to Gregg Hano, SVP corporate sales and technology group, Bonnier, “We would say those estimates are severely high.” Bonnier publishes titles like PopSci+ and Saveur on iPad and also provides its Mag+ tablet publishing platform to other publishers. “On Mag+ we do not anticipate 6x or 7x by any means.” He tells minonline that many adjustments can be made to compression and page quality, dynamic downloading of images to ease the load. But he also warns that moving exclusively to an HTML5-based approach would lose some of the higher quality text and image features many publishers and app consumers expect from their titles. The app environment still offers publishers a richer layout and design tool set. “Look at any HTML magazine and you will see that - it's lowest common denominator,” says Hano. “You don't have as many font choices, or nearly the text setting control.”
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03.12.2012
Pulp producers are generally seeing increased list and spot prices in March and prices could rise a bit more in the second quarter, sources said.
Some mill shuts and operational problems in recent months have curbed supply, and upcoming scheduled spring Northern Hemisphere maintenance shuts will also further restrict it.
After that, with production back to full swing and going into the seasonally slower Northern summer for a paper side that is less than robust for various sectors, pulp pricing momentum is likely to be flat, sources say.
Sources continue to fret about global economic conditions, with Europe still struggling and slowed growth in China.
In China, northern bleached softwood kraft (NBSK) pulp list prices have moved up in March. It is not yet clear whether or how much NBSK list prices will increase in Europe this month. There was no effort to increase NBSK list pricing in North America.
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03.12.2012
Nippon Paper Papylia Co., Ltd. (President: Masahiro Hirakawa), part of the Nippon Paper Group, and Nippon Paper Industries Co., Ltd. (President: Yoshio Haga) have jointly developed Thermal Water- Soluble Paper, a paper that can be used in thermal printers and dissolves in water instantly. Nippon Paper Papylia has commenced sales of this product.
Thermal Water-Soluble Paper is a high-performance paper created in response to the need of customers for a paper that can be printed using a thermal printer and that can be removed with water when used for printed labels. Utilizing the collective strength of the Nippon Paper Group, the product was developed by combining Nippon Paper Papylia's technology for paper that rapidly dissolves in water with the thermal paper technology possessed by Nippon Paper Industries. Thermal Water-Soluble Paper is already being used in the food industry overseas.
As a manufacturer of specialized papers, Nippon Paper Papylia has been offering paper with a range of added functions in response to the needs of the market. The company will market Thermal Water-Soluble Paper in addition to its existing range of water-soluble papers, cultivating markets for the product as a thermal material that can be used for new applications, such as for distribution labels that will be removed with water.
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03.12.2012
Appleton will begin to implement the 15-year supply agreement with Domtar previously announced on February 23. Under terms of that agreement, Domtar will supply Appleton with most of the uncoated base paper the Company needs to produce its thermal, carbonless, and other specialty paper products.
The agreement was considered tentative at the time of the announcement. Since the agreement will result in a reduction of approximately 330 jobs at Appleton's West Carrollton mill, Appleton's management team wanted to conduct discussions with leaders of Local 266 of the United Steelworkers regarding the reasons the Company chose to pursue the agreement before implementing it. Those discussions have been completed.
On March 12, Company officials will start negotiations with the mill's union leaders to address transition issues and terms of separation packages for union employees who will lose their jobs as a result of the permanent shutdown of papermaking operations at the mill. Affected salaried employees have been notified that they will receive benefits in accordance with the Company's severance pay plan for salaried employees.
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03.12.2012
Tempt In-Store Productions, a Quad/Graphics company, reports that its recent investments in new digital presses are paying off for a growing list of retail customers. With one of North America’s largest installed bases of large-format digital UV flatbed press equipment, Tempt’s new 100,000-square-foot facility in New Berlin, Wis., has become a leader in the technology revolution that is changing how retailers market in-store.
“Our new Inca Onset S-70 digital UV press -along with our original S-70 press -give us two of the fastest large-format digital UV presses in the world,” said Michael Draver, President of Tempt In-Store Productions. “These presses can produce a 5-foot-by-10-foot image at speeds up to 130 sheets per hour on a wide range of flexible and rigid substrates. We have a growing list of national retail customers who are enjoying the many benefits this technology offers such as greater flexibility, faster turnaround and quality that rivals offset.”
Tempt’s investment in the Inca presses is complemented by a new, large-format UV offset press, also installed in 2011. This press supports customer needs for more conventional signage and display printing on projects with higher quantities on heavier substrates, including non-paper projects. “There is a clear direction in the industry away from traditional screen printing and Tempt is leading that industry transformation,” Draver said. “We also invested in a new HP TJ8550 UV Digital Press, which offers our customers yet another option through a unique ‘roll-to-sheet’ digital print and integrated cutting system that makes for infinite formatting options up to 65 inches by 144 inches.”
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03.12.2012
John Wiley and Sons, Inc., a global provider of content and workflow solutions in areas of scientific, technical, medical, and scholarly research; professional and personal development; and education today announced results for the third quarter of fiscal year 2012:
Revenue growth of 1% including and excluding foreign exchange (or "FX")
Revenue by segment, including FX: STMS +3%, P/T -6% and Education +2%
Adjusted EPS grew 8% to $0.91, or 6% excluding FX. Growth was driven by top-line results, prudent expense management and lower interest expense and income taxes.
Shared Services and Administrative Costs excluding FX, were up 3% to $91 million, driven principally by technology spending to support investments in digital products and infrastructure.
Outlook: Reaffirming FY12 revenue guidance of low single-digit growth excluding FX and EPS guidance in a range from $3.15 to $3.20 including the effect of FX and excluding the unusual tax benefits.
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03.12.2012
Jennifer Miller has been named Executive Vice President - Coated Business and Chief Sustainability Officer. In her expanded role, Ms. Miller will have profit and loss responsibility for the Company's coated business unit, directly managing operations planning, marketing, logistics, and customer service and will continue to serve as the Company's CSO. Ms. Miller has held various senior executive positions since joining SFPNA in 1996, most recently EVP - Strategic Marketing, Coated Business.
Annette Luchene, Vice President and Chief Financial Officer, will assume responsibility for the company's Lean Six Sigma program. Under her leadership, Ms. Luchene will drive the Lean Six Program to meet cash generation goals through cost and waste reduction, as well as identify new revenue opportunities through process excellence and productivity improvements. Ms. Luchene has served as the Company's CFO since 2004.
Deece Hannigan, formerly Vice President - Fiber Resources, has been named Vice President - Procurement and Fiber Resources. In his expanded role, Mr. Hannigan will lead procurement initiatives to create and sustain competitive advantage across all three business units -- coated, pulp, and release. He will also work with the global business team to ensure the full commercialization of Sappi's announced chemical cellulose conversion at its Cloquet, MN facility. Mr. Hannigan has been serving as Vice President - Fiber Resources since 2007 managing the sale and purchase of kraft pulp for the Company.
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03.09.2012
Effective with shipments on or after April 6, 2012 Georgia-Pacific will increase prices by $3.00/cwt on All offset roll products and All reply card. All standard differentials and upcharges are unchanged.
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03.09.2012
Glatfelter is announcing a price increase for several grades of Specialty Uncoated papers sold in our United States and Canadian markets. The increase will be effective with shipments on or after April 9, 2012.
The increase will be $3/cwt for the following items: TransForm™ Laser MOCR; Moistrite® Form Bond; Scioto™ Ledger.
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03.09.2012
Aeropostale, Inc., a mall-based specialty retailer of casual apparel for young women and men, today reported results for the fourth quarter and fiscal 2011, and provided guidance for the first quarter of fiscal 2012.
For the fourth quarter of fiscal 2011, net sales decreased 4% to $808.4 million, from $839.3 million in the year ago period. Same store sales for the fourth quarter decreased 9%, compared to a same store sales decrease of 3% last year.
Net income for the fourth quarter of fiscal 2011 was $26.1 million, or $0.32 per diluted share, which included an after-tax charge of $9.5 million, or $0.12 per diluted share, resulting from store asset impairment charges. The Company reported net income of $83.8 million, or $0.95 per diluted share for the fourth quarter last year.
Net sales for fiscal 2011 decreased 2% to $2.342 billion, from $2.400 billion in the year ago period. Same store sales for fiscal 2011 decreased 9%, compared to a same store sales increase of 1% last year.
Net income for fiscal 2011 was $69.5 million, or $0.85 per diluted share.
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03.09.2012
Oil gained for a third day in New York on speculation that rising U.S. payroll numbers and an easing European debt crisis will spur demand for crude.
Futures climbed as much as 0.7 percent after Greece reached its target in the biggest sovereign debt restructuring in history. The U.S. probably added 210,000 jobs in February, according to a Bloomberg survey before a report today. Oil has increased this year on concern sanctions against Iran will lead to military conflict in the Middle East, where more than half the world’s crude reserves are located.
“We have a wait-and-see for payrolls; that really is going to be the decider into the weekend,” said Ole Hansen, a senior manager of trading advisory at Saxo Bank A/S in Copenhagen. “With Greece out of the way, the tension will turn toward Portugal and Spain in the next few weeks.”
Crude for April delivery advanced as much as 74 cents to $107.32 a barrel in electronic trading on the New York Mercantile Exchange. It was at $106.82 at 11:15 a.m. London time. The contract yesterday rose 0.4 percent to $106.58, the highest settlement since March 5.
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03.09.2012
American Forest & Paper Association President and CEO Donna Harman today issued the following statement regarding the Senate vote on the Collins amendment to the transportation bill.
“Today, a majority of the Senate voted in support of a legislative solution to develop affordable and achievable Boiler MACT rules. Senator Collins worked tirelessly to gain support from Senators on both sides of the aisle, and had there not been a 60-vote requirement for this amendment, it would have passed.
“Both chambers of Congress have voiced their support for the Boiler MACT legislation – an issue that has garnered bi-partisan support since the rules were proposed. We applaud the leaders from both parties who have stood up for the hard-working men and women whose jobs depend on a healthy American manufacturing environment. We remain committed to working to get a final set of rules that are reasonable, and we believe a legislative solution is needed to prevent further court challenge and give facilities time to comply.”
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03.09.2012
The U.S. Justice Department has warned Apple, as well as five major U.S. publishers, that an antitrust lawsuit may be brought against them for colluding to increase the prices of e-books, The Wall Street Journal reported on March 8.
Should Apple or the publishers seek to settle the case, industry analysts believe it could result in lower prices for e-books, but might also impact the e-commerce industry more broadly.
A spokesperson for the Department of Justice who would not confirm the reports said, “We have an ongoing investigation looking at the possibility of anti-competitive practices in e-book sales.” The spokesperson added that, “The matter continues to be open but I wouldn't be able to say anything beyond that.”
This investigation was first confirmed at an oversight hearing last December by Sharis Pozen, head of the Antitrust Division of the Justice Department.
In addition to Apple, publishers Simon & Schuster, Hachette Book Group, Penguin Group (USA), Macmillan and HarperCollins Publishers are reportedly being investigated for violating antitrust law in an effort to counteract Amazon's deep discounting of e-books.
Apple and a number of the publishers are in talks with the Justice Department, which could result in settlements having implications on e-commerce in general, particularly online media, according to The Wall Street Journal.
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03.09.2012
2011 business year highlights:
¦Firm resilience despite a difficult economic and financial environment. The Group's new areas of development (Digital, TV Production and Travel Retail) continued their growth trend. Net sales came out at €7,657m, stable on a like-for-like basis (up 0.2%) and lower by 3.9% on a reported basis. The difference is due mainly to a negative scope effect associated with the sale of International Magazine Publishing (PMI).
¦Recurring EBIT from Media activities was down 11.1% at constant exchange rates, in line with the guidance announced on November 8, 2011, due mainly to:
- Lagardère Publishing, the expected end to the Stephenie Meyer effect and deteriorated market conditions in English-speaking countries;
- Lagardère Unlimited, non-recurring items, non-renewal of contracts and weaker than expected sales performance.
¦Negative net income - Group share of -€707m, in large part associated with impairment losses of €895m (mainly on Lagardère Unlimited and Canal+ France), as announced on February 7. Excluding non-recurring/non-operating items and excluding EADS, adjusted net income stands at €226m compared to €284m last year, i.e. a drop of €58m, mainly due to the decline in recurring EBIT.
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03.09.2012
Stein Mart, Inc. today announced financial results for the fourth quarter and fiscal year ended January 28, 2012.
Overview of Results: Net income for the fourth quarter was $5.7 million or $0.13 per diluted share compared to net income of $18.8 million or $0.42 per diluted share in 2010. Fourth quarter net income as adjusted was $6.8 million or $0.15 per diluted share compared to $11.3 million or $0.25 per diluted share in 2010. See "Results as Adjusted" for information on "as adjusted" amounts for 2011 and 2010.
For the year, net income was $19.8 million or $0.44 per diluted share compared to net income of $48.8 million or $1.08 per diluted share in 2010. Net income as adjusted was $20.0 million or $0.44 per diluted share compared to $29.6 million or $0.66 per diluted share in 2010.
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03.09.2012
Financial Highlights 2011 (at identical exchange rates): Group revenue growth of 4.6% (+2.4% excluding Maxi acquisition); Revenue growth in all our operating segments; Group underlying operating margin of 4.4% (4.8% in Belgium); Underlying operating profit growth of 18.8% in Southeastern Europe & Asia (+14.3% excluding Maxi acquisition).
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03.09.2012
BWAY Corporation, a leading North American supplier of general line rigid containers, today announced that it has signed an agreement to sell the Company's blow molded plastic bottle business to Ring Container Technologies, Inc. The business includes a variety of plastic bottles generally ranging in size from one gallon to ten liters primarily serving the agricultural and other chemicals markets, and various other end-use markets. BWAY Corporation had sales from this business of approximately $21.0 million in fiscal 2011.
Commenting on the pending sale, Ken Roessler, BWAY's President and Chief Executive Officer stated that, "BWAY's strategy is focused on building leading positions in markets we choose to serve. While blow molded bottles represent a good business, we are simply not a meaningful market participant, and we do not believe that substantial growth in this segment is practical for BWAY. This sale allows us to focus on the Company's blow molded tighthead container business, a core market where we hold the leading market position. Our focus will include blow molded tighthead container investments in product development, new container and manufacturing equipment technologies, and capacity."
The transaction is structured as an asset sale and includes certain equipment currently located at the Company's Indianapolis, IN and Cedar City, UT plants. These plants will continue to operate producing other blow molded and injected molded plastic products. The transaction is expected to close within the next 30 days, at which time BWAY and Ring will begin an orderly transition of the business. Net proceeds from the sale will be used to reduce the Company's term loan debt.
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03.09.2012
NBC Acquisition Corp., parent company of Nebraska Book Company, got closer to emerging from Chapter 11 bankruptcy with Wednesday’s filing of a Second Amended Plan for Reorganization and Disclosure Statement. A hearing to approve the Disclosure Statement will be held on April 13 at U.S. Bankruptcy Court for the District of Delaware.
“This is an important step in our process,” said Nebraska president Barry Major. “We have spent a great deal of time working with our lenders and have reached an agreement with the bondholder’s steering committee; this is a sign of confidence in the future of our business.”
At the same time Nebraska filed a motion to close 38 off-campus stores, following the seven it closed at the beginning of the year. After Fall rush Nebraska found a “disproportionate decline” in its off-campus store performance, while on-campus sales held steady. In January it asked the court to approve 93 off-campus leases and for more time to evaluate another 43 during January and February rush.
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03.09.2012
Hallmark Cards, Inc., today announced consolidated revenue of $4.1 billion for the year, flat to 2010 performance.
Hallmark President and CEO Donald J. Hall, Jr., cited the still-slow economic recovery as a key factor in the company's results.
"Consumers in the U.S. and internationally remain cautious in their spending and retailers continue to face challenges drawing shoppers into stores," Hall said. Overcoming such challenges, he added, requires ongoing development of fresh new greeting cards as well as innovative new product categories Hallmark continues to introduce.
Kansas City-based Hallmark is privately held and does not release earnings.
The Hallmark North America business held steady, while Hallmark International finished the year with an 8 percent decline. Following six consecutive years of growth, Hallmark's Crayola® subsidiary saw a 3 percent decline in revenue due largely to lower results in the back-to-school selling season.
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