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

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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05.17.2013

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

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

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

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

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05.17.2013

J.Vilaseca Earns ISO 50001:2011, Energy Management System

Spanish specialty papermaker J.Vilaseca has recently obtained the certification ISO 50001—an international standard for energy management and efficiency. J.Vilaseca's main objective with the procurement and implementation of this standard is to establish systems and processes to improve energy efficiency, reducing energy consumption and costs, as well as offsetting the current energy problems:

Shortage of current sources

Infrastructure vulnerability to future energy supply problems

Political instability in countries of supply

Energy price volatility

External energy dependence

To honor the company's commitment to the reduction of greenhouse gas emissions

"Obtaining this certification highlights the concern and commitment from J.Vilaseca for combating climate change while also confirms the company's strategy investment to social responsibility and respect and preserve the environment," the company said in a statement.

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05.17.2013

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

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

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

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

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

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

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05.17.2013

Consumers Will Pay More to “Go Green” Researchers Say

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

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

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

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

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05.17.2013

Crude Rises on Stimulus Speculation

West Texas Intermediate crude rose on speculation that central banks will bolster stimulus after more Americans than projected filed for unemployment benefits and U.S. consumer prices decreased.

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

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

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

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05.17.2013

Stable Economic Fundamentals Keep Consumer Spending Outlook on Track

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

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

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05.17.2013

Bow Wow Wow! Hundreds of Paper Dogs Hit New York City

NYCxDesign, New York's city-wide celebration of cutting edge design is underway and has attracted the most unlikely of guests - hundreds of paper dogs.

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

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

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05.17.2013

AAA Fuel Gage & Exchange Rates

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

Current Exchange Rates as of 5/17/13

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

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05.17.2013

WTI Fluctuates; Poised for First Weekly Drop in a Month

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

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

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

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

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05.17.2013

American Forest & Paper Association Releases April 2013 Paperboard Statistics Report

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

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

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05.17.2013

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

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

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

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05.17.2013

American Forest & Paper Association Releases April 2013 Containerboard Statistics Report

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

Containerboard production dropped 1.5 percent over March 2013 but rose 4.2 percent over the same month last year. The month-over-month average daily production increased 1.8 percent. The containerboard operating rate for April 2013 gained 1.5 points from March 2013, from 92.8 percent to 94.3 percent.

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05.17.2013

Nordstrom Reports First Quarter 2013 Earnings

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

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

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

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05.16.2013

Bookstats 2013 Now Available

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

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

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

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05.16.2013

Orient Paper, Inc. Reports First Quarter 2013 Results

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

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

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

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

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

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05.16.2013

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

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

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

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

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

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05.16.2013

Cascades Makes Moving Easy

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

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

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

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05.16.2013

WTI Crude Declines as Fuel Demand Drops Amid Economic Weakness

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

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

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

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

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