-
11.29.2012
Coldwater Creek Inc. today reported financial results for the three-month period ended October 27, 2012.
Third Quarter of Fiscal 2012 Operating Results
Consolidated net sales were $188.1 million, compared with $187.5 million in third quarter 2011. Net sales from the retail segment were $147.2 million, compared with $144.1 million in the same period last year, primarily reflecting an increase in comparable premium retail store sales of 7.3 percent. Net sales from the direct segment were $40.9 million, compared with $43.3 million in the same period last year.
Consolidated gross profit increased $9.8 million to $66.1 million, or 35.1 percent of net sales, compared with $56.3 million, or 30.0 percent of net sales, for third quarter 2011. The 510 basis point increase in gross profit margin was primarily due to increased leverage of buying and occupancy costs and improvements in merchandise margins reflecting improved product performance.
Selling, general and administrative expenses (SG&A) were $76.1 million, or 40.5 percent of net sales, compared with $84.5 million, or 45.1 percent of net sales, for third quarter 2011. The $8.4 million decline in SG&A was due primarily to lower marketing expense compared to the same period last year.
Net loss was $20.5 million, or $0.67 per share on 30.5 million weighted average shares outstanding, and included other loss, net, of $6.8 million, or $0.22 per share, due to the change in the fair value of the derivative liability related to the Series A Preferred Stock issued in July 2012. This compares to a net loss of $29.2 million, or $1.24 per share on 23.6 million weighted average shares outstanding for third quarter 2011.
click here
-
11.29.2012
Target Corporation today reported that its net retail sales for the four weeks ended November 24, 2012 were $6,183 million, a decrease of 0.1 percent from $6,191 million for the four weeks ended November 26, 2011. On this same basis, November comparable-store sales decreased 1.0 percent.
“November sales were below our expectations, reflecting weaker-than-planned sales performance in the first two weeks combined with stronger sales growth across all channels later in the month,” said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. “Profitability for the month remained on plan, reflecting our efforts to balance thoughtful price investments in an intensely competitive environment with our continued focus on driving sales. With the upcoming launch of the Target/Neiman Marcus Holiday Collection, our unique assortment of exclusive, affordable merchandise and the compelling benefits of 5% REDcard Rewards and our Holiday Price Match, we believe Target has the right plans in place to allow our guests to shop with confidence throughout the holiday season.”
click here
-
11.29.2012
Macy’s, Inc. today reported total sales of $2.450 billion for the four weeks ended Nov. 24, 2012, a decrease of 0.6 percent compared with total sales of $2.464 billion in the four weeks ended Nov. 26, 2011. On a same-store basis, Macy’s, Inc. sales were down 0.7 percent in November as compared to November 2011.
“Despite the largest-volume Thanksgiving weekend in our company’s history, we were not able to overcome the weak start to the month, which included the disruption of Hurricane Sandy. Yet we remain on track to deliver a very strong sales performance in the fourth quarter, consistent with our guidance,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc.
For the year to date, Macy’s, Inc. sales totaled $20.786 billion, up 3.2 percent from total sales of $20.145 billion in the first 43 weeks of 2011. On a same-store basis, Macy’s, Inc.’s year-to-date sales were up 3.1 percent.
click here
-
11.28.2012
Late yesterday, the USPS filed a response to the Postal Regulatory Commission (PRC) after the PRC on November 16th remanded the USPS’s proposed annual rate adjustment back to the Postal Service to deal with the Standard Flats cost coverage issue. Pending further review, the response seems reasonable, something we can live with. Here are the two key outcomes from the response:
• Carrier Route rates were not changed
• Standard Mail Flats were increased 0.047% beyond the original proposed increase – from 2.57% to 2.617%, appreciably above the CPI price cap
Beyond these two categories, no other Standard Mail rates were changed in the USPS response. The filing contains some adjustments that could prove to be favorable. Most notably, the pound rate, applicable to pieces over 3.3 ounces, decreases by a tenth of a cent per pound. Also, no dropship discounts changed and the minimum per-piece rate did not change for 5-digit automation pieces.
click here
-
11.28.2012
Snipp Interactive Inc., a provider of mobile marketing solutions, has teamed up with Meredith’s Special Interest Media Group (SIMG) to digitally enhance its reader response activation program. The new digital approach uses Snipp’s ''Mobilize Me'' platform and its new Mobile Microsite builder. SIMG VP/group publisher Steve Levinson says that he and his staff are testing the approach with two titles, Kitchen and Bath and Diabetic Living, (the latter of which has never previously included a reader response section). “I think that the technology lends itself to Diabetic Living in particular for the pharmaceutical accounts that really want to engage people.”
Of Kitchen and Bath, Levinson says it “has historically been one of our stronger lead-gen publications.” However they were finding that an increasing number of advertisers no longer wanted to fulfill lead generation through the mail given the high cost and slow response time. Although the mobile Web sites will offer the option of requesting collateral by mail, they also will feature a wide range of actions that readers may choose to engage with advertisers. Included are requesting PDF brochures by email, contacting advertisers directly, interacting with their social media pages, watching a video or visiting the Web sites.
Using Snipp Interactive’s tools, Meredith can create customized mobile Web sites for its advertisers where readers can interact by requesting advertising materials in ways that are easy for them—including by texting—and get a much faster response time. For advertisers, the solution cuts mail costs, but also makes it easier to convert leads as they are immediately notified when readers make requests for information.
click here
-
11.28.2012
All You has even more "you" now after incorporating reader comments and questions into nearly a third of the pages of its most recent edition.
The December issue of All You debuted "Real Talk," an editorial feature that opens each of the magazine's sections with a question from readers. The franchise is threaded throughout the book as well, with flagged reader comments appearing as sidebars within several stories.
An expansion of the testimonial advertising program "Reality Checkers" was also introduced, adding social sharing elements.
True to its name, the magazine has always incorporated user-generated content into its print and digital products, but has broadened its use recently with "Real Talk," "Reality Checkers" and a digital video curation initiative.
"From the day we launched in 2004, social has been a big component of the brand," says Nina Willdorf, executive editor of All You. "As editors, our job is not to push information out, but to open up the dialogue and a conversation to other readers, and to capture that dialogue in a way that's most compelling."
Market--frequent women shoppers looking for value--and distribution--more than a quarter of their 1.5-million circulation comes from an exclusive deal with WalMart newsstands--makes user-generated and social content especially relevant for the title, Willdorf says.
click here
-
11.28.2012
Costco Wholesale Corporation today reported net sales of $8.15 billion for the month of November, the four weeks ended November 25, 2012, an increase of nine percent from $7.51 billion during the similar four-week period last year.
For the first fiscal quarter (12 weeks) of its 2013 fiscal year (from September 3 through November 25, 2012), the Company reported net sales of $23.21 billion, an increase of ten percent from $21.18 billion in the first fiscal quarter of 2012.
click here
-
11.28.2012
Lieferando, a fast growing on-line supplier of home-delivery food such as pizza, pasta and sushi has chosen Billerud’s 100% primary fibre paper for their new and improved pizza delivery boxes. The main reason behind the decision is the purity of the material guaranteeing a high level of product safety for their customers. High customer satisfaction is key and lieferando is not willing to comprise on the quality of the packaging.
Product safety is a hot topic and the regulations around food packaging are very strict. In Italy, the home of the pizza, the boxes are always made of primary fibres. Now the trend is moving North and lieferando is introducing stronger and fresher pizza boxes in Germany made from the highest quality Scandinavian fibres. The strength of the raw material makes it possible to reduce the weight of the packaging and at the same time increase the printability and purity of the food packaging.
“We are a new company wanting to challenge the market by modern technology and high customer satisfaction. It is therefore natural that we look for smarter packaging that boosts our brand and protect out high quality pizzas in the best possible way.” says Kai Hansen, MD and founder of lieferando.
The boxes will be produced by the Schiettinger Group in Auerswalde together with MB Karton Ernst Behrend in Berlin, Germany. Schiettinger Group is a company with over a century’s experience of producing solid and corrugated board for numerous types of end uses.
click here
-
11.28.2012
Oil traded near the lowest price in a week in New York amid signs of rising supplies in the U.S. and concern that lawmakers are struggling to reach agreement on how to address the nation’s deficit.
West Texas Intermediate futures declined as much as 0.7 percent. An Energy Department report today may show crude supplies rose by 350,000 barrels to 374.8 million, according to a Bloomberg News survey. U.S. Senate Majority Leader Harry Reid said yesterday he was disappointed with progress made during congressional budget talks over $607 billion in tax increases and spending cuts set to begin in January.
“The market has been kept well-supplied,” said Guy Wolf, a strategist at London-based commodities broker Marex Spectron Group Ltd. who predicts Brent crude will recover to $125 a barrel early next year. “Funds are not engaged with the market right now, partly due to potential events such as the U.S. fiscal cliff. Even though everyone assumes it will resolve itself, the question is how close to the edge do we go first?”
Crude for January delivery slid as much as 61 cents to $86.57 a barrel in electronic trading on the New York Mercantile Exchange, and was at $86.60 at 11:58 a.m. London time.
click here
-
11.28.2012
The American Forest & Paper Association released its October 2012 U.S. Recovered Fiber Monthly Report on Nov. 20, 2012.
According to the report, total U.S. industry consumption of recovered paper in October was 2.49 million tons, 6 percent higher than in September 2012. Consumption was up across all grades except for Newspapers, which remained at its September low and was 25 percent lower than in October 2011. Year-to-date total consumption in 2012 is 4 percent lower than during the same period last year.
U.S. exports of recovered paper remained approximately flat, dropping 1 percent in September compared to August. Average export $/Ton figures were lower across all grades when compared to the prior month. Year-to-date exports of recovered paper in 2012 are 7 percent lower than during the same period in 2011.
click here
-
11.28.2012
The American Forest & Paper Association released its October 2012 Printing-Writing Paper Report on Nov. 21.
According to the report, total printing-writing paper shipments decreased 2 percent in October compared to October 2011, primarily driven by declines in uncoated mechanical shipments.
Additional key findings include:
October shipments of coated free sheet papers increased year-over-year for the fifth time in the past twelve months, reaching the highest level since September 2010.
Shipments of uncoated free sheet paper in October increased 2 percent over the same period in 2011, with mill inventories at the lowest level since July 1995.
October uncoated mechanical paper shipments decreased 23 percent compared to October 2011, with YTD shipments down 16 percent relative to the previous year.
click here
-
11.28.2012
JoS. A. Bank Clothiers, Inc. announces that net income for the third quarter of fiscal year 2012 decreased 11.2% to $13.3 million as compared with net income of $15.0 million for the third quarter of fiscal year 2011. Diluted earnings per share for the third quarter of fiscal year 2012 decreased 13.0% to $0.47 per share as compared with diluted earnings per share of $0.54 for the third quarter of fiscal year 2011. Total sales for the third quarter of fiscal year 2012 increased 11.1% to $232.9 million from $209.6 million in the third quarter of fiscal year 2011. Comparable store sales increased 4.8% and Direct Marketing sales increased 25.8% in the third quarter of 2012.
Comparing the first nine months of fiscal year 2012 with the first nine months of fiscal year 2011, net income declined 3.8% to $51.3 million as compared with $53.3 million and diluted earnings per share declined 4.2% to $1.83 per share as compared to $1.91 per share. Total sales for the first nine months of fiscal year 2012 increased 9.6% to $694.5 million from $633.6 million for the first nine months of fiscal year 2011, while comparable store sales increased 3.5% and direct marketing sales increased 21.8%.
click here
-
11.27.2012
Berry Plastics Group, Inc. today reported results for the September quarter and fiscal year 2012:
Net sales decrease of 2 percent versus September 2011 quarter
Adjusted free cash flow of $159 million for the September 2012 quarter
Fiscal year 2012 Adjusted EBITDA of $803 million with the leverage ratio (net debt/Adjusted EBITDA) at 4.9x (pro forma for the IPO), a reduction of 1.2x from fiscal year 2011
Operating EBITDA increased 13 percent and Operating EBITDA margin increased to 17.6 percent from 15.3 percent in the September 2011 quarter
Adjusted net income (loss) per share of $0.34 for the quarter compared to ($0.04) in September 2011
“Berry’s improved product mix, aggressive cost reduction initiatives, and lower costs for raw materials, coupled with higher prices in certain of our product segments, allowed us to achieve record earnings and reduce our leverage,” said Jon Rich, Chairman and CEO of Berry Plastics. “While we are pleased with our overall performance, the weakening global economic environment will present challenges to our industry and to Berry.”
click here
-
11.27.2012
Indonesia has become the latest Asian country to join PEFC after after China and Malaysia, demonstrating that PEFC is the forest certification system of choice for region. The Indonesian Forestry Certification Cooperation (IFCC) decision to join the world's largest forest certification system was founded in PEFC's unique bottom-up approach, which respects the uniqueness of sovereignty, ecosystem diversity, and the culture of every country.
“Indonesia is home of some of the most biologically diverse forests in the world. We are looking forward to working with IFCC to promote sustainable forest management through forest certification and welcome them as a PEFC member,” said Ben Gunneberg, PEFC Secretary General.
“PEFC has refined its Sustainability Benchmarks over the past years to remove barriers to tropical forest certification, and we are excited to see the development of a national forest certification standard by Indonesians for Indonesians,” added Mr. Gunneberg. "The promise of Indonesian's forests being managed sustainably, in a manner that provides people with jobs that comply with the fundamental ILO conventions, safeguards forest biodiversity, and protects them from conversions, should be viewed by all who care about saving the world's forests as an important first step in the right direction. The fact that the challenges of the past will be addressed for a sustainable future is positive."
Indonesia’s forest land comprises 60 % of the country’s land area, which makes it the third largest area of tropical rainforest in the world. Indonesia’s forest is therefore important not only for the national economy and local livelihoods, but also for the global environment. The Indonesian rainforests are also among the world’s richest in terms of biodiversity, yet for each year between 2003 and 2006, the Indonesian government estimates that around 1.17 million ha of forest was cleared or degraded.
click here
-
11.27.2012
On 7 November 2012 Arctic Paper S.A. announced its public offer to buy all of the shares in Rottneros AB. On the same day the Board of Directors of Rottneros recommended that the shareholders should accept the offer, subject to the conditions specified.
The Board of Directors of Rottneros has now been informed in writing by shareholders (including Skagen Vekst and Peter Gyllenhammar via companies, who taken together control more than 10 per cent of the capital and voting power in Rottneros), that these owners will not accept the bid announced by Arctic Paper.
click here
-
11.27.2012
Atlantic Packaging Products recently announced plans to re-open the company's Whitby mill in Ontario, Canada, in March of 2013.
Atlantic said that its former newsprint mill has been upgraded with technology that will allow it to produce 100% recycled lightweight paper used to manufacture high performance corrugated packaging products.
"In North America, the term lightweight has been primarily used in reference to the basis weight of the paper, with little or no emphasis on strength, said Dave Boles, President of Atlantic Packaging.
"What we're talking about is a disruptive technology that is capable of producing low basis weights (lighter paper) with sustainability and strength characteristics unlike anything in corrugated packaging today," Boles explained.
"Sustainability objectives from large retailers are driving the industry forward, and soon Atlantic will be in a position to provide our customers with the most sustainable corrugated packaging option available in North America," he added.
The Whitby mill, which had the capacity to produce 150,000 tpy of 100% recycled newsprint, was closed in March of 2010. At that time, Atlantic cited the steep drop-off in North American demand for newsprint and overcapacity in the market as contributing factors to the closure of the mill.
click here
-
11.27.2012
Arandell Corporation and Schumann Printers today announced a joint venture marketing agreement to cross sell the two family-owned manufacturing platforms. Currently, Arandell specializes in long-run equipment and services, while Schumann Printers focuses on short-run equipment and services. By working together, both Wisconsin-based printers will be able to expand their range of services to both existing and new customers.
“By bringing together two very different, but complementary, manufacturing platforms, this strategic partnership will enable each of our companies to extend the capabilities we offer our client base,” said Don Treis, Arandell CEO. “Arandell will gain access to a manufacturing platform that will make us very competitive, for the first time, in the short run catalog and custom publication markets.” Currently, Arandell does not have the capability to offer these services with its long-run equipment platform.
“Schumann Printers will be able to expand into new markets with Arandell’s long-run equipment, that we could not do alone,” said Daniel Schumann, President of Schumann Printers. “We will also be able to offer our customers Arandell’s resources in catalog consulting, pre-media, database marketing, and mobile applications for smart phones and tablets.”
Over the last few months, Arandell and Schumann Printers have worked to develop a strong collaborative relationship to ensure consistent quality for clients across both manufacturing platforms. The partnership will also provide additional capacity and a valuable backup to enable each company to meet unexpected demand or urgent client needs.
“Arandell Corporation and Schumann Printers share the same values and the same commitment to quality and service,” said Daniel Schumann, President of Schumann Printers. “We are confident that this agreement will help each of our companies to grow and expand in a competitive marketplace.”
click here
-
11.27.2012
The magazine industry’s faith in the future of tablets is not easing up, even though advertiser support for digital editions has been slow in coming and these platforms still represent a small fraction of overall distribution for most books. According to the latest analysis from McPheters and Co. iMonitor, which tracks thousands of branded media apps, the number of apps from publishers continues to grow month over month. By its count 9,125 publication-related apps were available in a range of app stores in October, more than double the 4,299 available on the same month last year. And up from the 8,839 in September. The market has expanded steadily throughout the year.
Leading among group publishers is Hearst, from whom iMonitor counted 89 apps, followed by Time Warner with 84, Conde Nast with 83 and Future Media with 82.
Getting a handle on circulation benchmarks is a bit tougher, since only 256 titles are now reporting digital circulation is their ABC reports in the first half of 2012. Among those that do include their app editions in the audited counts, however, the share of overall circulation coming from digital versions is 5.7%, up from 4.7% in the second half of 2011. The limited benchmarks we do have around sales of magazine apps does show strong growth, however. During the second half of 2011, only 28 titles were claiming digital edition circ. of under 30,000, but in H1 2012 that number grew to 50. At the higher end, five titles went to more than 30,000 but less than 100,000, up from 3. And now 1 title, Game Informer, enjoys a digital edition circulation of over 1 million.
Apple’s iOS continues to be the platform on which publishers develop and deploy their most advanced tablet editions. It is also far and away the platform delivering the highest sales. But according to Rebecca McPheters, CEO, McPheters & Co., the migration to emerging tablet platforms comes at a cost. “The average publisher is now on 4.6 platforms,” she tells minonline. “There is a dramatic increase in the number of apps individual publishers have. Multiply that by all the other platforms, and the complexity of this undertaking for publishers has scaled up more rapidly than the revenue potential. They started on the platform with the greatest revenue potential and as they expand onto these other platforms their return on investment is diminishing.”
By iMonitor’s count the penetration of magazine titles across iPad, Nook and Kindle are now at about the same levels with between 73% and 79% of U.S. publisher present on each of the platforms.
click here
-
11.27.2012
Future, the media group and leading digital publisher, today unveils a major new ongoing research panel, designed to provide a continuous dialogue through which to understand its core audiences.
The Future illuminate Panel is the largest online consumer research programme Future has ever undertaken, representing a major investment for the business, which aims to enable Future to shape and refine its products and content.
The panel will focus on Future’s Technology, Games, Film, Music, Cycling and Photography groups which reach over 9 million UK adults online, across brands as diverse as TechRadar, T3, CVG, Total Film, Classic Rock and Cycling Plus.
Together with Vision Critical, the industry-leading provider of online community panels and market research technology, Future will aim to recruit over 10,000 UK consumers to develop a highly interactive online community. Through this community, Future will establish a unique ongoing dialogue with the panel to bring consumers closer to its brands and ensure business decisions reflect consumer insight and opinions.
click here
-
11.27.2012
The McGraw-Hill Companies today announced it has signed a definitive agreement to sell its McGraw-Hill Education business to investment funds affiliated with Apollo Global Management, LLC, for a purchase price of $2.5 billion, subject to certain closing adjustments. As part of this transaction, McGraw-Hill will receive $250 million in senior unsecured notes issued by the purchaser at an annual interest rate of 8.5%. The transaction, which is expected to close in late 2012 or early 2013, is subject to regulatory approval and customary closing conditions.
Upon closing, McGraw-Hill, which will be renamed McGraw Hill Financial (subject to shareholder approval), will be a high-growth, high-margin benchmarks, content and analytics company in the global capital and commodities markets. With customers in more than 150 countries, McGraw Hill Financial expects 2012 revenue of approximately $4.4 billion with nearly 40% from international markets. The Company will provide 2013 financial guidance for McGraw Hill Financial when it announces its 2012 fourth quarter and year-end financial results.
"After carefully considering all of the options for creating shareholder value, the McGraw-Hill Board of Directors concluded that this agreement generates the best value and certainty for our shareholders and will most favorably position the world-class assets of McGraw-Hill Education for long-term success," said Harold McGraw III, Chairman, President and CEO of The McGraw-Hill Companies who will lead McGraw Hill Financial once the transaction is complete. "We were able to secure an attractive outcome and create additional balance sheet flexibility for McGraw Hill Financial."
Mr. McGraw added, "McGraw-Hill Education is a leader in digital learning with world-class content and enormously talented and committed employees. As we begin the next chapter in our rich history, I am very proud of and grateful to all the McGraw-Hill Education professionals who are contributing so much to the company and to educators, administrators and students all over the world. I look forward to seeing their continued success with the expertise and support of Apollo."
click here
-
11.27.2012
Despite all the lip service being paid to behavioral targeting, segmenting by age, gender, and income still pays the biggest dividends in targeted marketing campaigns, according to marketers responding to a new survey.
Demographic segmentation of their email marketing efforts returned the best results, said 39% of the nearly 300 enterprise-level marketers surveyed by Lyris for its 2012 Digital Optimizer Survey. The next most effective segmentations were purchase history (28%), open rates (26%), and click-through rates (25%).
The methods direct marketers use to evaluate what's effective could be called into question, however. Half of them said they tested 25% or less of their campaigns, with 10% admitting to doing no testing at all.
Even so, corporate silos still block the way to better marketing through Big Data, says Lyris CMO Alex Lustberg. “Everybody understands that we need to do more of it, but it's just difficult to get behavioral segmentation,” he says. “It's the disconnected nature of the digital marketing landscape. We're all going to make use of social data, but at the end of the day it's different teams, budgets, and databases.”
Mining the data generated by social media may remain a work in progress, but marketers are very much involved in the medium. More than 80% of those polled said they've deployed programs on Facebook, Twitter, and LinkedIn. Pinterest registered the lowest level of usage at 54%. Facebook will continue to receive the bulk of respondents' attention and funds in 2013, with 51% saying they would increase spending on the network. Next on marketer's lists for spending hikes came Twitter and Youtube.
click here
-
11.27.2012
Oil traded near its lowest level in almost a week in New York as a forecast that U.S. crude supplies increased balanced optimism that a new agreement on aid for Greece will help resolve Europe’s debt turmoil.
Futures were little changed after paring an earlier advance of as much as 0.6 percent. U.S. crude inventories probably rose 500,000 barrels last week, according to a Bloomberg News survey of analysts before an Energy Department report tomorrow. European Union ministers agreed to help Greece manage its debt burden in talks in Brussels that lasted 13 hours, an EU official said early today.
“The positive outcome on Greece has already been priced in,” said Andrey Kryuchenkov, an analyst at VTB Capital in London who predicts Brent crude may slide to $110 a barrel this month. “Now attention is turning to fundamentals and they are far from ideal.”
Crude for January delivery was at $87.80 a barrel in electronic trading on the New York Mercantile Exchange at 10:52 a.m. London time, having gained as much as 51 cents to $88.25 a barrel.
click here
-
11.27.2012
Ahlstrom, a global high performance fiber-based materials company, updates its 2012 outlook for net sales and operating profit excluding non-recurring items after the Extraordinary General Meeting of the company approved the demerger of the Label and Processing business area.
Ahlstrom's Extraordinary General Meeting of the Shareholders today resolved to approve the demergers of the Label and Processing business in Europe and the Coated Specialties business in Brazil according to the respective demerger plans. Consequently, the Label and Processing business area will be classified as an asset held for distribution to owners and reported separately as discontinued operations in the Financial Statements Bulletin 2012.
Ahlstrom's view of the market environment remains unchanged. However, the outlook is only adjusted to reflect the resolution by the EGM to approve the demerger of the Label and Processing business area.
Ahlstrom now expects net sales from continuing operations to be EUR 960 -1,040 million and operating profit excluding non-recurring items from continuing operations to be EUR 22 - 32 million in 2012. Ahlstrom had previously estimated, including the Label and Processing business area, net sales to be EUR 1,550 - 1,630 million and operating profit excluding non-recurring items to be EUR 48 - 58 million.
click here
-
11.26.2012
Plastic bag manufacturers have taken their battle against Toronto's bag ban to a new level.
The Canada Plastic Bag Association has started a legal proceeding Nov. 19 in the Ontario Superior Court of Justice in Toronto against the City of Toronto.
"As Toronto City Council gave no notice, undertook no public consultation, carried out no due diligence, and received no advice prior to adopting the Plastic Bag Ban, the bag ban resolution ought to be quashed for having been passed in bad faith," noted CPBA spokesman Joe Hruska in a news release.
CPBA argues that Toronto's council did not get input from anyone who indicated the ban "would further the economic, social, and/or environmental well-being of the city or would protect the health, safety and well-being of any person."
The CPBA legal filing is the second notice of court action in less than a week. The Ontario Convenience Stores Association launched the first legal challenge Nov. 15.
CPBA is an ad hoc group recently formed to fight the ban, Hruska said in a telephone interview. It comprises bag producers and distributors throughout Canada. Its members supply single-service bags to supermarkets, department stores, discount stores, drug stores, convenience stores and other retail outlets.
The convenience stores association has retained high powered law firm McCarthy Tetrault of Toronto to prosecute its case. The association opposes the ban on the grounds the law is outside the city's jurisdiction and that it was rushed through without consultation.
click here
-
11.26.2012
Resolute Forest Products today announced plans to build an industrial wood pellet plant that will convert a currently underutilized residual material into a reliable source of renewable energy. Construction of the plant is expected to begin shortly and is scheduled for completion in 2014. The Company has signed a ten-year agreement to supply Ontario Power Generation with 45,000 metric tons of pellets annually.
The plant will be built adjacent to the Company's sawmill in Thunder Bay, Ontario, creating approximately 24 new jobs when fully operational and improving the long-term viability of the sawmill and the approximately 350 jobs that it supports.
"Wood pellets are a clean, renewable energy source, and together with other biofuel opportunities, a natural diversification target for Resolute," said Richard Garneau, President and Chief Executive Officer. "This project provides the opportunity to enhance the use of our existing asset base to produce biofuel for a strategic, committed consumer and allows the Company to gain valuable manufacturing experience in commercial biomass production."
Resolute will invest approximately C$10 million in the construction of the plant, adding to the investments of approximately C$120 million the Company has announced for its Ontario operations since 2011.
click here
-
11.26.2012
Woody biomass is becoming a major part of our renewable energy portfolio, with PEFC leading the discussion on necessary adaptions to strengthen the link between sustainable biomass and forest certification. “We already know a lot about how to manage our forests sustainably,” remarked Uwe Fritsche, IINAS, during his opening keynote address, “but the rise of forest derived bioenergy brings about new issues and challenges not yet considered in existing voluntary forest initiatives.”
The keynote address hinted at some of the inherent complexities and tough choices facing society as we transition towards a green economy. Forests provide a great renewable resource that can offer substitution for fossil fuels. But added demand on forest resources presents both opportunities and challenges to ensuring their sustainable management. Wise substitutions of our energy sources must deliver real and significant greenhouse gas emissions savings, requiring careful calculation across different time and spatial scales.
The event, held in Vienna, Austria, on 14 November, attracted nearly 150 participants and successfully brought together diverse representatives from the bio-energy and forest sectors. The event provided a timely opportunity for participants to hear from European Commission (EC) and the UK Government Department of Energy and Climate Change representatives on their renewable energy policies, targets and proposed criteria for sustainable solid biomass.
These new and proposed governmental regulations simultaneously stimulate demand for renewable energy sources (especially woody biomass) while potentially imposing new sets of requirements and safeguards on the land managers and upstream market actors. It is within this dynamic context of emerging regulations and sustainability requirements that forest sector and energy sector representatives were able to identify much common ground and potential for further collaboration.
click here
-
11.26.2012
Mondi, the international packaging and paper group, has received several international accolades from PPI and WWF International - one of the world´s largest conservation organisations. On 12 November this year, Mondi was announced the winner of the “Environmental Strategy of the Year 2012” award by PPI in recognition of its approach in managing the social, environmental, safety and health impacts of products through their life-cycle.
The PPI Awards recognise the achievements of companies, mills and individuals in the global pulp and paper sector. On the same evening, judges - including the managing director of the Confederation of European Paper Industries (CEPI) and economic advisor of Resource Information Systems Inc. (RISI) - awarded Mondi SCP in Slovakia the top prize for “Managing Risk and Safety 2012” and “Energy Improvements of the Year 2012”.
A few days later, WWF International announced Mondi as one of the winners of the “Environmental Paper Awards 2012” in the category ‘Transparency’ and the “Best Environmental Performance Paper Brands Award” for 100% recycled NAUTILUS® SuperWhite.
Emmanuelle Neyroumande, Manager of WWF International´s global pulp and paper work commented: "Mondi has been applauded by WWF for transparency on its environmental footprint, showing that the company takes their environmental and social responsibility seriously. We welcome that Mondi has published 92% of Mondi-branded uncoated fine papers on WWF's Check Your Paper database of eco-rated papers."
click here
-
11.26.2012
The second half of the year isn’t bringing any relief to the newspaper industry, with total advertising revenues falling 5.1% from $5.56 billion in the third quarter of 2011 to $5.27 billion in the third quarter of 2012.
Revenue declines were spread across all the major newspaper ad categories. National advertising fell 10.4% from $823 million to $738 million, retail was down 6% from $2.8 billion to $2.64 billion, and classifieds slipped 4.8% from $1.2 billion to $1.14 billion.
As in previous quarters, online ad revenues posted modest growth with a 3.6% increase from $733 million to $759 million.
For the year to date, total newspaper ad revenues fell 6.1% from $17.1 billion in the first nine months of 2011 to $16 billion. For the same period, national revenues are down 10.5% from $2.7 billion to $2.4 billion, retail fell 6.6% from $8.4 billion to $7.88 billion, and classifieds dipped 7.5% from $3.6 billion to $3.3 billion.
This is the 25th straight quarter of ad revenue declines, according to the NAA. From 2006-2011, total newspaper ad revenues plunged 51.5% from $49.3 billion to $23.9 billion.
click here
-
11.26.2012
Black Friday bled into Thanksgiving Day this year, as retailers competed for consumers’ holiday shopping dollars by offering Friday-after-Thanksgiving specials online on Thursday and many retail chains opened their stores on Thanksgiving night. But two reports released today make clear that e-commerce emerged as the winner on those two shopping days, making big gains while store sales were virtually unchanged from a year ago.
In-store sales actually decreased 0.18% for Thanksgiving Day and Friday—the day often referred to as Black Friday because of its boost to retailers’ profits—compared to the same two days in 2011, payment processor Chase Paymentech reported today, based on sales of its retailer clients. The number of transactions increased 0.15% but the average ticket in stores declined 0.33%, Chase reports.
But it was a very different story online. For Thursday and Friday combined e-retail sales increased 29.3% to $1.675 billion from $1.295 billion, reports comScore, which tracks the actual buying behavior of some 1 million online consumers in the U.S.
“Despite the frenzy of media coverage surrounding the importance of Black Friday in the brick-and-mortar world, we continue to see this shopping day become more and more prominent in the e-commerce channel—particularly among those who prefer to avoid crowds at the stores,” says comScore chairman, Gian Fulgoni, in commenting on the results. Thanksgiving Day online sales increased 32% to $633 million and Black Friday sales rose 26% to $1.042 billion, the first time e-retail sales eclipsed $1 billion on the day after Thanksgiving, comScore says.
click here
-
11.26.2012
Rather than camp out in front of Best Buy or Toys ‘R’ Us for their post-pie purchasing, many consumers opted for a more comfy venue to kick off their gift buying this Black Friday—the comfort of their couch. However, while online sales were up an impressive 20.7% this Black Friday compared to the day after Thanksgiving last year, shoppers spent less and purchased fewer items per order, says Jay Henderson, strategy program director for IBM.
The average order value for merchants was $181.22 yesterday, down about 4.7% from the same day last year. Average number of items per order also fell—to 5.6 per shopping trip—down 12% from last year. Henderson says part of this could be because many e-retailers lowered the minimum amount consumers had to purchase to qualify for free shipping.
When it comes to the most popular online shopping categories in terms of sales, home goods retailers led the way in sales growth, according to IBM, which tracks sales at its 500 e-retailer clients for its analysis. Home goods retailers posted a 28.2% increase in sales this Black Friday compared to last. Apparel retailers came in second with a 17.5% increase and department stores in third with sales up 16.8% over last year.
click here
-
11.26.2012
Oil declined from a three-session high in New York amid concern that Spain may postpone a request for a bailout while European finance chiefs meet today to discuss additional funds for Greece.
Futures dropped as much as 0.7 percent after gaining the most since October last week. Pro-independence parties in Spain’s Catalonia won a regional vote, strengthening a drive for a referendum on secession in defiance of the nation’s Prime Minister. European officials gather in Brussels today, less than a week after an all-night meeting failed to yield an agreement. Oil rose last week because of concern that fighting between Israel and Hamas and unrest in Egypt would spread and disrupt Middle Eastern crude supplies.
“It’s a really bad circle,” Michael Poulsen, an analyst at Global Risk Management in Middelfart, Denmark, said of Europe’s attempts to resolve the debt crisis. “The geopolitical risk premium is the major wild card in the weeks and months to come.”
West Texas Intermediate, or WTI, for January delivery fell as much as 64 cents, or 0.7 percent, to $87.64 a barrel on the New York Mercantile Exchange and was at $87.77 at 10:53 a.m. London time.
click here
-
11.26.2012
Domtar Corporation today confirmed the November 20 closing of its previously announced Definitive Purchase and Sale Agreement ("the agreement") signed by its Canadian subsidiary, Domtar Inc., for the sale of its hydro assets in Ottawa, Ontario and Gatineau, Québec. The purchaser is Chaudière Hydro L.P. ("Chaudière Hydro"), the newly-created affiliate of Energy Ottawa Inc.
The approximately $46 million transaction, after closing adjustments, includes Domtar's three power stations (21 MW of installed capacity), Domtar's water rights in the area, as well as the company's equity stake in the Chaudière Water Power Inc. (CWPI) ring dam consortium. With the closing of the agreement, the 12 workers currently operating the three power stations become employees of Chaudière Hydro.
click here
-
11.21.2012
Courier Corporation, one of America’s leading innovators in book manufacturing, publishing and content management, today announced fourth-quarter and full-year results for its fiscal year ended September 29, 2012.
Courier’s 2012 fiscal year had 53 weeks, with the extra week included in the fourth quarter. Fourth-quarter revenues in fiscal 2012 were $77.1 million, up 5% from $73.7 million in last year’s fourth quarter. Net income for the quarter was $5.7 million or $.50 per diluted share, including restructuring costs of $1.5 million or $.08 per diluted share primarily related to the writedown of an unutilized one-color press. Excluding those costs, fourth-quarter net income was $6.6 million or $.58 per diluted share. In fiscal 2011, fourth-quarter net income was $6.4 million or $.53 per diluted share including restructuring costs, and $6.5 million or $.54 per diluted share excluding those costs.
For fiscal 2012, Courier sales were $261.3 million, up slightly from $259.4 million in fiscal 2011. Net income was $9.2 million or $.77 per diluted share, including restructuring costs of $3.3 million or $.17 per diluted share as well as a first-quarter pretax gain of $0.6 million from the sale of certain non-operating assets. Excluding those items, net income for fiscal 2012 would have been $10.9 million or $.91 per diluted share. In fiscal 2011, Courier’s net income was $134,000 or $.01 per diluted share including restructuring costs, a bad-debt provision related to Borders Group Inc. and an impairment charge related to Research & Education Association in the wake of the Borders bankruptcy. Excluding those charges, net income for fiscal 2011 would have been $10.7 million or $.89 per diluted share. Details of the restructuring costs, impairment charges and other items for both years can be found in the tables at the end of this release.
“After another challenging year in a sluggish economy, we were pleased to have a strong finish,” said Courier Chairman and Chief Executive Officer James F. Conway III. “We were especially pleased to reap the growing benefits of our steady investments in four-color digital inkjet technology, innovative content management solutions for the education and trade markets, and global distribution capabilities on behalf of our largest religious customer.
“It was a year of strong growth at Courier Digital Solutions, where sales increased 48% in response to escalating demand for college textbooks customized to individual course requirements and schedules. But it was also a year of growth in trade book sales as publishers increasingly utilized digital printing in combination with offset to capture the full life-cycle potential of every title. Separate from this trend, we also saw an increase in four-color offset sales from new and existing customers.
click here
-
11.21.2012
HP today announced financial results for its fourth fiscal quarter and full fiscal year ended Oct. 31, 2012.
For the full year fiscal 2012, net revenue of $120.4 billion was down 5% from the prior-year period and down 4% when adjusted for the effects of currency.
Full-year GAAP loss per share was $6.41, down from diluted earnings per share (EPS) of $3.32 in the prior-year period. Full-year non-GAAP diluted EPS was $4.05, down 17% from the prior-year period. Full year non-GAAP earnings information excludes after tax costs of $20.7 billion, or $10.46 per diluted share, related to the impairment of goodwill and purchased intangible assets, restructuring charges, amortization of purchased intangible assets, charges relating to the wind down of non-strategic businesses and acquisition-related charges.
click here
-
11.21.2012
Books-A-Million, Inc. today announced financial results for the 13-week and 39-week periods ended October 27, 2012. Net sales for the 13-week period ended October 27, 2012, increased 11.0% to $104.7 million compared with sales of $94.4 million in the year-earlier period. Comparable store sales for the third quarter decreased 3.6%, compared with the 13-week period in the prior year. Net loss from continuing operations for the third quarter was $2.8 million, or $0.18 per diluted share, compared with net loss from continuing operations of $3.8 million, or $0.24 per diluted share, in the year-earlier period.
For the 39-week period ended October 27, 2012, net sales increased 12.2% to $338.2 million from net sales of $301.6 million in the year-earlier period. Comparable store sales declined 2.4% compared with the same period in the prior year. For the 39-week period ended October 27, 2012, the Company reported net loss from continuing operations of $5.6 million, or $0.37 per diluted share, compared with net loss from continuing operations of $10.1 million, or $0.64 per diluted share, in the year-earlier period.
Commenting on the results, Terrance G. Finley, Chief Executive Officer and President, said, “Sales for the third quarter reflect stabilization in our core book business and improvements in our toys & game, and other general merchandise sales. We are focused on the upcoming holiday season and bringing our customers an expanded offering of gifts across a broad range of categories; the best books, toys, tech and more.”
click here
-
11.21.2012
Oil rose on speculation that the conflict between Israel and the Palestinians of Gaza will disrupt crude supply from the Middle East. Prices advanced earlier after a report showed U.S. stockpiles declined.
Futures climbed as much as 0.8 percent after Egyptian plans to announce a cease-fire in Gaza fell through yesterday following a weeklong barrage of Palestinian rockets and Israeli airstrikes. The American Petroleum Institute said yesterday crude inventories fell for the second week in three. An Energy Department report today is forecast to show supplies increased.
“Until we get some further news from the Palestine-Israel situation, traders will probably trade from the long side,” Ole Hansen, senior manager of trading advisory at Saxo Bank A/S, said by phone from Copenhagen today. “There were increased hopes of a cease-fire in the Middle East yesterday. That has not really materialized.”
Crude for January delivery was at $87.22 a barrel, up 47 cents, in electronic trading on the New York Mercantile Exchange at 9:56 a.m. London time.
click here
-
11.21.2012
Seventy-five percent of marketers said they are bullish about growth prospects for digital and direct marketing, according to the Direct Marketing Association's Quarterly Business Review for the third quarter. The review is conducted is partnership with the Winterberry Group, a management consultancy.
The figure is up slightly from the second-quarter survey, in which 72% of respondents said they were bullish about growth prospects.
When asked to rate their confidence in the growth of digital and direct marketing on a scale of 1 to 5 (with 1 representing low confidence and 5 representing high confidence), respondents gave an average score of 3.91, up slightly from 3.85 in the second quarter.
The latest report was based on an online survey in October of 322 marketers who are members of the DMA.
click here
-
11.21.2012
Ahlstrom, a global high performance fiber-based materials company, has developed a PFOA-free* version of its Ahlstrom Coralpack range, a flexible packaging paper for direct wrapping and packing of numerous grease-containing food products, such as biscuits, pastries, coffee beans, fast food, take-away food, pizzas, popcorn for micro wave, butter & margarine, soup cubes and many more.
To produce grease resistant packaging papers, fluorochemicals are added in the paper production process. However, deriving from the production process of these fluorochemicals, trace amounts of PFOA can be found as an unintended impurity. In January 2006, the US Environmental Protection Agency (EPA) invited manufacturers of fluorochemicals to commit to reduce by 95% PFOA from their emissions and products content not later than by 2010 and to eliminate it totally by 2015.
To offer its customers a grease resistant paper free of this unintended impurity, Ahlstrom Group Product & Technology Development services have designed a new generation of grease resistant papers.
click here
-
11.21.2012
Resolute Forest Products today announced the indefinite idling of the kraft mill and paper machine number 5 (PM5) at its pulp and paper operation in Fort Frances, Ontario. The kraft mill has an annual production capacity of approximately 200,000 metric tons of market pulp, while PM5 has an annual capacity of 105,000 metric tons of groundwood specialty printing papers.
"The markets for these products are challenging and are expected to remain so. The kraft mill situation is particularly difficult given Fort Frances' operating configuration and the recent decision by a key customer to stop consuming the pulp supplied by Resolute to its mill," said Resolute's President and Chief Executive Officer, Richard Garneau. "Our kraft mill's drying capacity is limited to about 40 percent of its production capacity, making it impossible to continue operating the mill in a profitable manner."
Resolute is exploring alternative product possibilities for its Fort Frances pulp mill, which will be idled in a manner that will protect the equipment.
The idling of PM5 is driven by the decrease in consumption as well as the high value of the Canadian dollar.
"We will monitor market conditions closely and work with key stakeholders to explore ways to improve the mill's cost position," added Garneau.
The running down of fiber inventories and orderly shutdown of the Fort Frances kraft mill is expected to be completed by late November. PM5 will also continue to operate until late November. Approximately 239 employees will be impacted by the idling.
click here
-
11.20.2012
Chico's FAS, Inc. today announced its financial results for the fiscal 2012 third quarter and thirty-nine weeks ended October 27, 2012.
For the third quarter, the Company reported net income of $41.7 million, an increase of 57.4% compared to net income of $26.5 million in last year's third quarter, and earnings per diluted share of $0.25, an increase of 56.3% compared to $0.16 per diluted share in last year's third quarter. Excluding non-recurring acquisition and integration costs related to the Boston Proper acquisition, the Company's third quarter earnings per diluted share were $0.25, an increase of 38.9% compared to $0.18 per diluted share in last year's third quarter. These results represent the highest third-quarter earnings per share since 2005.
For the thirty-nine weeks ended October 27, 2012, the Company reported net income of $148.7 million, an increase of 28.4% compared to net income of $115.8 million in the same period last year, and record earnings per diluted share of $0.89, an increase of 34.8% compared to $0.66 per diluted share in the same period last year. Excluding non-recurring acquisition and integration costs related to the Boston Proper acquisition, the Company's earnings per diluted share for the thirty-nine weeks ended October 27, 2012 were a record $0.89, an increase of 30.9% compared to $0.68 per diluted share for the same period last year.
For the third quarter, net sales were $636.7 million, an increase of 18.2% compared to $538.5 million in last year's third quarter, reflecting comparable sales growth of 9.9%, square footage increase of 8.2%, and Boston Proper sales for seven incremental weeks of $16.7 million. The 9.9% increase in comparable sales for the third quarter was on top of a 3.7% increase in last year's third quarter, for a two-year stack of 13.6%, and reflected increases in both average dollar sale and transaction count. The comparable sales growth primarily reflected a positive customer response to the fall fashion assortments and the effectiveness of the Company's innovative marketing plans.
click here
-
11.20.2012
dELiA*s, Inc., a multi-channel retail company comprised of two lifestyle brands primarily targeting teenage girls and young women, today announced the results for its third quarter of fiscal 2012.
Third Quarter Fiscal 2012 Highlights:
Total revenue decreased 4.0% to $55.7 million from $58.1 million in the third quarter of fiscal 2011. Revenue from the retail segment decreased 2.8% to $35.2 million, due to a reduction in store count, partially offset by a comparable store sales increase of 2.4%. Revenue from the direct segment decreased 6.1% to $20.6 million on a catalog circulation decrease of 14.4%.
Consolidated gross margin increased to 33.9% compared to 32.3% in the prior year quarter.
Net loss was $2.0 million, or $0.06 per diluted share. Net loss for the third quarter of fiscal 2011 was $4.4 million, or $0.14 per diluted share.
click here
-
11.20.2012
TC Media is proud to announce that it received the Mobiz Business – Society Award for its P$ Mobile Service solution, developed in close collaboration with Stationnement de Montréal, at the 2012 Mobiz Awards held last Thursday night in Montreal. Presented during the MTL DGTL festival, the Mobiz Awards recognize the ingenuity and excellence of individuals or companies that stand out in the field of mobile solutions.
TC Media developed the P$ Mobile Service remote payment solution for Stationnement de Montréal, which was launched in June 2012. Motorists can now pay for their parking spots using the P$ Mobile Service app, available free for iPhone, BlackBerry(R) and Android™ devices, or online and through its mobile version, at pservicemobile.ca. The solution has been a smash hit from the moment it was introduced: already more than 76,000 people have downloaded the app, across all platforms, and the solution registers an average of 28,000 transactions a week, a number which is growing rapidly, for a total of more than 300,000 transactions since it was introduced.
"We are very happy to have won this prize, which is a credit to the talent and expertise of our mobile solutions team," said Bruno Leclaire, Senior VP, Digital Solutions at TC Media. "We are especially proud of P$ Mobile Service, a custom-designed mobile payment ecosystem originating entirely in Montreal, and designed and developed in-house at TC Media. Successful solutions like this are helping TC Media carve out a leading position in Canada's mobile industry."
click here
-
11.20.2012
Quad/Graphics, Inc. and Vertis Holdings, Inc. jointly announced today that the waiting period for antitrust review in relation to their proposed business combination expired at midnight on Friday, November 16, with no action taken by the Federal Trade Commission. The companies can now move forward with their proposed sale agreement, pending the receipt of Court approval and the completion of necessary integration plans.
Quad/Graphics and Vertis on October 10, 2012, announced the execution of an agreement through which Quad/Graphics will acquire substantially all of the assets comprising Vertis’ businesses. Vertis simultaneously filed voluntary petitions for Chapter 11 relief to complete the sale as efficiently as possible while maintaining continuity for its clients and employees. As part of the sale through the Chapter 11 case, Vertis and its advisors will evaluate any competing bids that may be submitted in order to ensure it receives the highest and best offer. Under procedures approved by the Bankruptcy Court, any competing bidders must submit their offers in accordance with the approved procedures by November 23, 2012, in order to be considered. Vertis has the support of its lenders with respect to the sale to Quad/Graphics.
Both companies currently anticipate the sale will be approved by the Bankruptcy Court on December 6, 2012, and will close in the first quarter of 2013. Vertis and Quad/Graphics will continue to operate separately and independently until Bankruptcy Court approval is received and the sale closes.
click here
-
11.20.2012
In a striking piece of research from Mindshare UK on behalf of the Professional Publishers Association, magazines were discovered to deliver higher ROI to advertisers than any other medium. The UK Business Planning Unit of Mindshare studied 77 campaigns with an ad spend of over £6 million. The results showed that ad pages were especially effective in creating high “bonding scores” for products, which are considered the strongest influence on purchase behavior.
The ROI on this metric beat out Web, TV and newspapers handily, the research finds, although results varied according to campaign. In fact, the budget for ad pages would have had to double before the ROI dropped to the same as TV. Generally the diminishing return scale and media reallocation analysis showed that sales on the advertised products increased as did the magazine spend.
According to reporting in Mediaweek UK, “Mindshare also discovered that the gains made by reallocating budget to magazines were far greater than the losses from the host medium.”
click here
-
11.20.2012
Following the success of its innovative Digital Paper Program and the introduction of high-performance inkjet web papers, it is with great excitement that Finch Paper announces a solution for businesses seeking better, more consistent printed color.
FIT Color Management and Workflow Services, denoting Fluid + Ink + Toner, leverages the company’s technical knowledge surrounding color-managed workflows and ICC color profiles across printing platforms. “Fluid” refers to inkjet presses using aqueous inks, “Ink” refers to traditional offset presses, and “Toner” refers to digital production printing presses. The ultimate challenge is to have consistent, predictable color results across all three platforms.
Through on-site consultations, the technical experts at Finch look at the entire process — from design to finishing — adjusting color settings and workflow to hit the color mark from run to run and machine to machine while lowering the total cost of print.
click here
-
11.20.2012
Cascades is the proud recipient of a 2012 Green Supply Chain Award for its sustainable approach to its supply chain. It will be listed along with other award winners in the December issue of the American magazine Supply & Demand Chain Executive, specialists in the supply chain sector for over 10 years.
The Green Supply Chain Award recognizes companies who make sustainability a core part of their supply chain strategy, and work to achieve measurable sustainability goals within their own operations and supply chains. It also recognizes providers of supply chain solutions and services who assist their customers in achieving measurable sustainability goals.
Cascades was recognized for its closed-loop business process with its Cascades Recovery Division, for its collaboration with sustainable supply chain management company EcoVadis, and for its annual presentation of the Sustainable Supplier Award honoring its distribution partners' role in advancing sustainability.
click here
-
11.20.2012
Oil slid from the highest level in a month in New York on signs that yesterday’s gains were excessive, given speculation stockpiles rose for a third week in the U.S., the world’s largest consumer of crude.
West Texas Intermediate dropped as much as 0.8 percent after climbing 2.7 percent. Crude inventories in the U.S. probably increased by 1 million barrels last week, a Bloomberg News survey showed before an Energy Department report tomorrow. Prices surged yesterday as Israeli ground forces prepared to enter the Gaza Strip for the first time in almost four years.
“The market remains well-supplied,” Carsten Fritsch, an analyst at Commerzbank AG in Frankfurt who forecasts WTI futures will rise above $90 a barrel before the end of the year, said by phone. “The bias is upwards due to supply risks and geopolitical tensions. The risk of an Israeli invasion into the Gaza strip is still there.”
Crude for January delivery fell as much as 75 cents to $88.53 a barrel in electronic trading on the New York Mercantile Exchange. It was at $89.07 at 11:46 a.m. London time.
click here
-
11.20.2012
RDA Holding Co., parent company of The Reader’s Digest Association, Inc., the global multi-brand and multi-platform media and direct marketing company, announced today its financial results for the third quarter ended September 30, 2012.
Revenue decreased $82.3 million to $230.1 million, a decline of 26.3% from the 2011 quarter. The revenue declines were primarily due to a lower active customer base on our books and home entertainment products and a reduction in promotional investment across many of our markets in Europe and Asia. Our revenue declines were also due to lower sales on some of our book product lines in North America, the sale of the Every Day with Rachael Ray publication in October 2011 and declining subscription renewals on certain of our magazine titles.
Third quarter operating loss was $100.1 million, which reflects an impairment charge of $85.0 million. Excluding impairment charges in both comparable periods, operating loss decreased $25.9 million to $15.1 million, a decrease of 63.2% from the 2011 quarter. The decrease in operating loss was primarily the result of the sale of the Every Day with Rachael Ray publication, as well as a reduction in promotional investments and overhead cost savings related to our 2011 restructuring initiatives.
EBITDA for the quarter was negative $8.9 million, compared to negative $6.0 million in the 2011 quarter, which has been adjusted to exclude discontinued operations, as well as the Every Day with Rachael Ray publication.
click here
-
11.20.2012
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 $60 million and $155 million for the three and nine months ended October 31, 2012, respectively. Earnings per diluted share were $0.40 and $1.06 for the three and nine months ended October 31, 2012, respectively.
Total Company net sales rose by 14% over the same quarter last year to $693 million. Comparable retail segment net sales, which include our comparable direct-to-consumer channel, increased by 8% for the quarter, while comparable store net sales decreased by 1%. Comparable retail segment net sales at Free People, Urban Outfitters and Anthropologie increased by 24%, 7% and 6%, respectively, for the quarter. Direct-to-consumer net sales increased by 36% and wholesale segment net sales rose by 7% for the quarter.
"Favorable customer response to our product offerings and better marketing resulted in record third quarter sales and significant margin improvement," said Chief Executive Officer, Richard A. Hayne. "We see this trend continuing into the fourth quarter which bodes well for our Holiday season," finished Mr. Hayne.
For the three months ended October 31, 2012, the gross profit rate improved by 222 basis points versus the prior year's comparable period. The increase in gross profit rate was primarily due to a reduction in merchandise markdowns. For the nine months ended October 31, 2012, the gross profit rate improved by 29 basis points versus the prior year's comparable period. The increase in the rate was primarily due to a reduction in merchandise markdowns partially offset by the deleverage of store occupancy costs related to the negative comparable store net sales.
click here
-
11.20.2012
Best Buy Co., Inc. today announced a GAAP net loss from continuing operations of $13 million, or $0.04 per share, for the three months ended November 3, 2012 compared to net earnings from continuing operations of $173 million, or $0.47 per diluted share for the prior-year period. Excluding previously announced restructuring charges, adjusted (non-GAAP) net earnings from continuing operations for the third quarter of fiscal 2013 were $10 million, or $0.03 per diluted share compared to $173 million and $0.47 for the prior-year period. Comparable store sales were down during the quarter and adjusted (non-GAAP) operating income declined significantly.
Excluding restructuring charges primarily related to previously announced store closures, the Domestic segment operating income for the three months ended November 3, 2012 declined to $50 million ($16 million on a GAAP basis) from $249 million in the prior-year period. The decline was due to a lower gross profit rate, higher SG&A expense and lower revenue.
The Domestic segment revenue was $7.7 billion and declined 4.7 percent compared to the prior year period. The Domestic segment revenue decline reflected a 4.0 percent comparable store sales decline and the impact of store closures.
click here