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11.16.2012
The PPI (Pulp & Paper International) Awards are the only global awards dedicated to recognising achievements in the pulp and paper sector. The winners were announced at the Awards dinner in Brussels on November 12th.
Smurfit Kappa won in the ‘Advances and Innovation in Sustainable Packaging’ category for the Eco Tray, a corrugated tray that offers a green alternative to traditional polystyrene and plastic trays.
As consumer packaging in the fruit and vegetable market has traditionally been dominated by polystyrene trays, Smurfit Kappa developed a thermo formed corrugated board solution which can be applied to this market as well as other sectors. The Eco Tray is 100% recyclable, optimises storage space and leads to savings on CO2 emissions. Moreover, as it is suitable for flexographic print, high quality print and pre-print, it can be customised to fit the customer’s wishes.
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11.16.2012
R. R. Donnelley & Sons Company today announced that its RRD ActiveDisclosureSM system has been recognized as a winner in the 2012 Ventana Research Technology Innovation Awards. RR Donnelley earned the top spot in the governance, risk and compliance (GRC) technology category, which honors innovation that advances business and IT. The RRD ActiveDisclosure system makes the disclosure management process faster and easier to give financial reporting professionals and C-level executives more time to focus on business-critical activities.
The Securities and Exchange Commission's XBRL filing regulations present a challenge to enterprises, leading many to evaluate their processes for external reporting. As companies explore more efficient disclosure management solutions, they can rely on the RR Donnelley team and the RRD ActiveDisclosure system to facilitate filing, XBRL tagging, and workflow and content management. The cloud-based solution lets teams draft, collaborate on and finalize SEC disclosures and other filing requirements in-house.
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11.16.2012
All You, a Time Inc. magazine targeted at value-conscious female Wal-Mart shoppers, is introducing more reader-generated content as part of a new editorial treatment beginning with its December issue, which hits Wal-Mart newsstands on Friday.
The December issue introduces a new editorial feature, “Real Talk,” which highlights readers’ tips and reviews and answers reader questions. Comments from Facebook, bloggers, and the All You Web site are also showcased throughout the magazine.
On the advertising front, the magazine’s “Reality Checkers” -- a group of around 50,000 readers who have opted in for dialogue with the magazine’s editors and advertisers -- are encouraged to test products and share reviews, which may then appear in ads in the magazine.
All You is expanding the reach of user-generated content created by Reality Checkers by encouraging them to share their reviews across social networks. The magazine brand currently has around 300,000 Facebook fans, while traffic to the Web site increased to 1.7 million unique visitors in October -- its best performance for the year so far.
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11.16.2012
Viacom's U.S. and worldwide advertising had a bit of a setback in its fiscal fourth-quarter 2012 period.
Domestic advertising revenues declined 6% and worldwide advertising revenues decreased 7%. For the full year, domestic advertising dropped 4%.
Chief reason: Viacom's kids' network Nickelodeon has seen some steep declines in ratings for the better part of 2012 -- around 30% -- after Nielsen's TV metrics in fall 2011 showed a sudden decline in viewers.
But Anthony DiClemente, media analyst of Barclays Capital, says that for the most part, these results were expected. He writes, Nick has made some gains with a new version of "Teenage Mutant Ninja Turtles."
"As the data continues to improve, Nick ratings are down just 13% in the [fiscal first quarter] to date. We expect another quarter of sequential improvement in the advertising growth rate, barring any commentary from management on the ad environment during the call."
In that call with analysts, Philippe Dauman, president and CEO of Viacom, says scatter market pricing is higher -- in the mid-teen percentages versus the mid-single-digit gains during the period a year ago.
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11.16.2012
IWCO Direct, a leading national provider of direct marketing solutions, has launched a completely revamped website along with its industry-leading SpeakingDIRECT blog. The site helps convey the company’s unwavering commitment to enhance their customers’ marketing performance across all channels through the use of proven and powerful direct mail programs. The site’s innovative responsive design reflects the new reality of when, where and how people work today. It provides customers with easier access to current information about IWCO Direct’s postal strategy, creative services, direct mail services and Mail-Gard® critical communications recovery services, whether working from their desktop or from one or more mobile devices.
“The big idea behind our new approach is this: direct mail powers cross-channel marketing programs, drives audiences to action and improves performance across the board – from broadcast and traditional print advertising to social media, email campaigns and other digital channels,” said Jim Andersen, IWCO Direct chief executive officer. “Just as we focus on providing the high-speed technology solutions that allow our customers to leverage direct mail as a powerful component of their marketing mix, we want our voice in the industry to be equally fresh, focused and technologically relevant.”
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11.16.2012
The U.S. Postal Service ended the 2012 fiscal year (Oct. 1, 2011 – Sept. 30, 2012) with a record net loss of $15.9 billion, compared to a net loss of $5.1 billion for the same period last year. The loss included expenses of $11.1 billion related to two payments to prefund retiree health benefits. The Postal Service, which is uniquely required by law to prefund these obligations, was forced to default on these payments.
Resolving the prefunding requirement, which made up 70 percent of the net loss, and providing more commercial flexibility to allow the Postal Service to manage its business, are among legislative changes needed for USPS to fully implement its business plan to return to financial stability.
“It’s critical that Congress do its part and pass comprehensive legislation before they adjourn this year to move the Postal Service further down the path toward financial health,” said Postmaster General and CEO Patrick Donahoe. “We continue to do our part to grow revenue and reduce expenses by making our operations more efficient and by providing our customers with new and expanded services to meet their mailing and shipping needs. Additionally, through the expanded use of technology, including better use of digital tools and mobile technology, we are providing business mailers with new opportunities to connect with customers in a more individualized way.”
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11.16.2012
Direct marketers can count on a small rate increase on direct mail in the coming year, but it's Congress that Postmaster General Patrick Donohoe put to the test today in announcing a record $15.9 billion net loss for the United States Postal Service during its fiscal year ended September 30.
Two payments totaling $11.1 billion that USPS was required to make to prefund retirees' health benefits fueled the deficit, which compared to a loss of $5.1 billion last year. The legislation proposed by Donohoe and others would remove the obligation from USPS and allow it to sponsor its own healthcare program for its employees and retirees. It would also clear the way for the agency to determine its own delivery frequency and offer non-postal products and services.
“We need a resolution and a refunding of our overfunding of the federal employee retirement system. There would be an $8 billion change in our results if we [could move to] five days of delivery and healthcare removal,” Donohoe said. “We need to act in the lame duck session and get this passed and we will get back in good financial shape.”
Positives reported by USPS Chief Financial Officer Joseph Corbett included an 8.7% increase in package shipping business and some $500 million in election-related revenue. Revenue from direct mail revenue and First Class mail each declined by 4%.
Donohoe said that direct marketers could expect a rate increase in 2013 in line with inflation, which was 2.2% at the time of this writing. He also encouraged direct marketers to combine mail with their digital appeals. “The key thing for [direct marketers] is to focus on growth in using direct mail along with other digital options and innovate,” he said. “We've seen some really good examples and everybody in the industry needs to think about moving in that direction.”
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11.16.2012
Casual Male Retail Group, Inc., the largest multi-channel specialty retailer of big & tall men's apparel and accessories, today reported operating results for the third quarter of fiscal 2012.
Highlights
•Comparable third quarter sales increased 1.5% and total sales were $88.7 million compared with $89.0 million in the third quarter of fiscal 2011.
•Comparable third quarter sales for Destination XL (DXL®) were up 13.8%, while comparable third quarter sales for Casual Male XL stores were flat. In the quarter, the DXL stores represented approximately 14% of the Company's retail business.
•Net loss for the third quarter was $1.6 million, or $(0.03) per diluted share, flat with the prior year's third quarter.
•Incremental costs associated with the roll-out of the DXL stores were approximately $3.0 million, or $0.04 per diluted share after-tax, in the third quarter.
•Opened five Destination XL stores and closed 13 Casual Male XL stores and one Rochester Clothing store.
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11.16.2012
Oil headed for the fourth weekly decline in five in New York as signs of a slowing economy in the U.S., the world’s biggest crude user, countered concern that tension in the Middle East will disrupt supplies.
West Texas Intermediate futures were little changed after falling 1 percent yesterday as a report showed U.S. unemployment claims climbed to the highest level since April 2011. Crude stockpiles grew last week to the highest since July as output rose to an 18-year high, according to the Energy Department. Oil pared losses after Israel said it’s ready to escalate military operations against Gaza.
“Supplies are overwhelming while demand is non-existent,” said Andrey Kryuchenkov, a London-based analyst at VTB Capital who predicts WTI may slip to $84 a barrel this month. “Geopolitical risks are hopefully going to subside, and so ultimately macroeconomic and demand concerns will still dominate the agenda.”
WTI for December delivery, which expires today, slipped 21 cents to $85.24 a barrel in electronic trading on the New York Mercantile Exchange at 10:40 a.m. London time.
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11.16.2012
Local online ad revenue in the U.S. is expected to grow to $38.1 billion in 2016 from $21.2 billion in 2011, a 12.4% increase in compound annual growth rate (CAGR), according to a study by BIA/Kelsey.
BIA/Kelsey projected that local search will grow faster than the overall search market, to $10.2 billion in 2016 from $5.7 billion in 2011 (+12.1% CAGR), while the U.S. local display market will outpace the overall display market, growing to $5.1 billion in 2016 from $2.4 billion in 2011 (+16.2% CAGR).
“Overall, we remain very bullish on interactive spending, and especially on new mobile monetization methods like point-of-sale offerings that are showing performance improvements,” said Matt Booth, chief strategy officer and program director, interactive local media at BIA/Kelsey, in a statement. “In fact, we expect mobile growth to offset some of the slowing in core search and display in the outer years of the forecast.”
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11.16.2012
Gap Inc. today reported strong third quarter earnings, underscoring its continued progress on key business strategies.
Net sales for the third quarter, which ended October 27, 2012, increased 8 percent to $3.86 billion compared with $3.59 billion for the third quarter last year. The company’s third quarter comparable sales increased 6 percent. Net income for the third quarter was $308 million, up 60 percent compared with the third quarter last year. Third quarter diluted earnings per share rose 66 percent to $0.63 compared with $0.38 last year.
“We're very pleased with our strong third quarter financial performance, highlighted by how well customers have responded to our product,” said Glenn Murphy, chairman and chief executive officer of Gap Inc. “We are ready to compete and win this holiday season as we drive to build upon our top line growth.”
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11.16.2012
UPM's Label business UPM Raflatac has opened a new labelstock slitting and distribution terminal in Ho Chi Minh City, Vietnam. The terminal began operations in November and will supply both film and paper label materials to customers in Vietnam.
The new terminal demonstrates UPM Raflatac’s commitment to the Southeast Asian markets. “Our presence in Vietnam will allow us to further expand and strengthen our customer network, by providing fast delivery, high quality products and technical support in this dynamic market,” says Nasuf Culha, General Manager, Southeast Asia.
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11.16.2012
Graphic Packaging Holding Company, a leading provider of packaging solutions to food, beverage and other consumer products companies, today announced an agreement to acquire Contego Cartons, a leading food and consumer product packaging company based in the United Kingdom. Contego is owned by Platinum Equity.
Highlights
Creates a leading position in the European food and consumer products folding carton market
Enhances Graphic Packaging's position in Europe by growing its operating footprint, expanding into new markets and providing new opportunities for growth
Combination of Graphic Packaging's existing beverage carton business with Contego's food and consumer products carton business creates new diversified platform
Contego Cartons had trailing twelve month sales of approximately $260 million and EBITDA of nearly $19 million
Company to pay approximately £71 million in cash and assume approximately £10 million in other net liabilities in an all cash transaction to be funded using existing liquidity sources
Expect to generate $8-$10 million of synergies over next two years and be accretive to earnings in first full year after integration
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11.15.2012
Williams-Sonoma, Inc. today announced operating results for the third quarter of fiscal 2012 ended October 28, 2012 (“Q3 12”).
Q3 12 RESULTS
• Net revenues increased 8.9% to $945 million in Q3 12 from $867 million in the third quarter of fiscal 2011 ended October 30, 2011 (“Q3 11”). Comparable brand revenue increased 8.5%.
• Operating margin increased to 8.4% from 7.9% in Q3 11.
• Diluted earnings per share (“EPS”) increased 20% to $0.49 versus $0.41 in Q3 11.
• During the quarter, the company repurchased 748,807 shares of common stock for approximately $31 million, leaving $31 million remaining under the $225 million stock repurchase program authorized by the Board in January 2012.
Laura Alber, President and Chief Executive Officer, said, “On behalf of all of us at Williams-Sonoma, Inc., I would first like to express my concern for the welfare of those individuals and families impacted by Hurricane Sandy. While the recent storms have caused some disruptions to our business, our response has been focused on assisting our associates and customers in need.”
Alber commented, “During the third quarter, we delivered stronger-than-expected revenues, operating margin and diluted earnings per share. EPS grew 20% on revenue growth of 9%, as comparable brand revenue growth accelerated to 8.5%, from 7.4% last quarter. Importantly, we drove these results while simultaneously investing in our strategic growth initiatives.”
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11.15.2012
Wal-Mart Stores, Inc. today reported financial results for the quarter ended Oct. 31, 2012. Net sales for the third quarter of fiscal 2013 were $113.2 billion, an increase of 3.4 percent from $109.5 billion in the third quarter last year. Net sales for this quarter included a negative currency exchange rate impact of approximately $1.7 billion. Without the currency impact, net sales would have been $114.9 billion. Membership and other income increased 2.1 percent to $725 million. Total revenue was $113.9 billion, an increase of 3.4 percent from last year.
Income from continuing operations attributable to Walmart for the quarter was $3.6 billion, up 8.7 percent from the third quarter last year. Diluted earnings per share from continuing operations attributable to Walmart (EPS) for the third quarter of fiscal 2013 were $1.08. By comparison, last year's reported EPS were $0.97.
The current quarter benefited from a 31.3 percent effective tax rate. This benefit was mostly offset by approximately $105 million in pre-tax charges which are included in operating expenses:
•an approximate $69 million for changes in estimated contingent liabilities related to employment claims in Brazil; and
•an approximate $36 million for damages from Superstorm Sandy, mainly in the Walmart U.S. business.
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11.15.2012
Target Corporation today reported third quarter net earnings of $637 million, or $0.96 per share, which includes a 15-cent gain from the pending sale of its credit-card receivables portfolio.1 Adjusted earnings per share, a measure the company believes is useful in providing period-to-period comparisons of the results of its U.S. operations, were $0.90 in third quarter 2012, up 4.3 percent from $0.86 in 2011. A reconciliation of non-GAAP financial measures to GAAP measures is provided in the tables attached to this press release. All earnings per share figures refer to diluted earnings per share.
“We’re pleased with Target’s third quarter financial performance, which reflects superb execution across each of our business segments,” said Gregg Steinhafel, chairman, president, and chief executive officer of Target Corporation. “We are well-positioned to deliver strong fourth quarter performance by offering compelling merchandise and unbeatable value through initiatives like the Target/Neiman Marcus Holiday Collection, 5% REDcard Rewards and our new Holiday Price Match which allow our guests to shop at Target with confidence throughout the holiday season.”
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11.15.2012
UPM Shotton paper mill in north Wales has triumphed at the annual PPI Awards held in Brussels. The Award for Environmental Strategy of the Year for a Mill was given in recognition for UPM Shotton going the extra mile and implementing innovative environmental solutions.
The judges commented: “The importance of environmental issues keeps growing in the pulp and paper industry and this can be clearly seen in the entries we received. The judges felt the winner was a great example of resource efficiency combined with pragmatic strategic planning – securing valuable supply chains for the mill and adding value to the other waste fractions at the same time.”
The judges were looking for a showcase mill that takes all the elements of responsibility into consideration, from sourcing of raw material, minimising impacts, and water energy and resource efficiency.
“Resource scarcity will be a key future issue for everybody and one reason why UPM has focused on material and resource effectiveness – creating more with less is almost a mantra for the company's operations. We have developed innovative ways to reduce our own waste and reuse waste in new products, leading to highly sustainable use of resources. And one of the best examples of the company's thinking and resource effectiveness is the zero waste strategy at Shotton Paper Mill”, says John Sanderson, Director of Environmental Market Support, UPM.
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11.15.2012
The Bon-Ton Stores, Inc. today reported results for the third quarter of fiscal 2012 ended October 27, 2012.
Third Quarter Highlights
• Comparable store sales increased 1.9%.
• Gross margin rate was 36.6% compared with 37.4% in the third quarter of fiscal 2011.
• Operating income totaled $10.8 million, compared with operating income of $0.5 million in the third quarter of fiscal 2011.
• Adjusted EBITDA increased $9.0 million to $34.1 million, compared with $25.0 million in the third quarter of fiscal 2011. Adjusted EBITDA is not a measure recognized under generally accepted accounting principles (see Note 1).
• Net loss improved $11.9 million to $10.1 million, or $0.55 per diluted share, compared with a net loss of $22.0 million, or $1.21 per diluted share, for the third quarter of fiscal 2011.
Year-to-date Highlights
• Comparable stores sales increased 0.3%.
• Gross margin rate was 35.6%, compared with 36.7% in the prior year period.
• Operating loss totaled $25.3 million, compared with an operating loss of $13.8 million in the prior year period. Operating loss for the fiscal 2012 period includes an $8.0 million charge for severance-related costs associated with targeted reductions to the Company's cost structure.
• Adjusted EBITDA, inclusive of the aforementioned $8.0 million of severance-related costs, was $46.0 million, compared with $63.8 million in the prior year period (see Note 1).
• Net loss totaled $96.0 million, or $5.20 per diluted share, compared with a net loss of $90.3 million, or $5.00 per diluted share, for the prior year period. Year-to-date results for fiscal 2012 include a charge of $6.7 million, or $0.36 per diluted share, for fees associated with the senior notes exchange, a charge of $8.0 million, or $0.43 per diluted share, for the aforementioned severance-related costs and a net gain of $1.9 million, or $0.10 per diluted share, related to the Company's sale of certain Rochester, NY locations and subsequent prepayment penalty on the extinguishment of related mortgage debt. Year-to-date fiscal 2011 loss included a charge of $9.5 million, or $0.52 per diluted share, associated with the voluntary prepayment of the Company's second lien term loan and the refinancing of its revolving credit facility.
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11.15.2012
Stein Mart, Inc. today announced that The NASDAQ Stock Market has accepted the Company's plan to regain compliance with NASDAQ Listing Rule 5250(c)(1) (the "Rule") which will permit the continued listing of the Company's stock on the NASDAQ Global Select Market.
As previously reported on September 13, 2012, the Company received a letter from NASDAQ stating that the Company is not in compliance with the Rule because the Company has not filed its Quarterly Report on Form 10-Q for the quarterly period ended July 28, 2012 with the Securities and Exchange Commission. In the letter, NASDAQ requested that the Company submit a plan to regain compliance with the Rule within 60 days.
On November 9, 2012, the Company submitted to NASDAQ a plan to regain compliance with the Rule. After reviewing the Company's plan to regain compliance, NASDAQ granted an exception to enable the Company to regain compliance with the Rule. Under the terms of the exception, the Company must file its Form 10-Q for the quarterly period ended July 28, 2012, and all other periodic reports required by the Rule, on or before March 5, 2013.
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11.15.2012
Limited Brands, Inc. today reported 2012 third quarter results and increased its 2012 full-year earnings guidance.
Adjusted earnings per share for the third quarter ended Oct. 27, 2012 were $0.26 compared to $0.25 for the third quarter ended Oct. 29, 2011. 2011 earnings per share included approximately $0.03 attributable to the third party apparel sourcing business, which was sold in November 2011. Excluding this amount from last year, adjusted earnings per share increased 18%.
Adjusted third quarter operating income was $197.4 million compared to operating income of $186.1 million last year, and adjusted net income was $75.6 million compared to $77.6 million last year. Adjusted results exclude certain significant items as detailed below:
•In 2012 (totaling to a charge of $0.01 per share):
?A pre-tax charge of $10.4 million, or $0.04 per share, related to La Senza store closures which were previously announced; and
?A pre-tax gain of $12.7 million, or $0.03 per share, from cash distributions related to the company's Easton investments.
• In 2011:
?An income tax benefit, primarily due to the resolution of certain tax matters, of $16.7 million, or $0.06 per share.
Including the significant items above, reported third quarter earnings per share were $0.25 compared to $0.31 last year; operating income was $186.9 million compared to $186.1 million last year; and net income was $73.4 million compared to $94.3 million last year.
The company reported a comparable store sales increase of 5 percent for the third quarter ended Oct. 27, 2012, compared to the third quarter ended Oct. 29, 2011. The company reported net sales of $2.050 billion for the third quarter ended Oct. 27, 2012, compared to net sales of $2.173 billion last year.
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11.15.2012
Bookstore sales took a tumble in September, falling 8.2%, to $1.39 billion, according to preliminary estimates released Wednesday morning by the U.S. Census Bureau. Last September was the final month of Borders' going-out-of business sales. For the first nine months of 2012, bookstore sales were down 1.6%, to $11.64 billion.
For the entire retail segment, September sales rose 3% and sales in the nine month period were 5.5% ahead of the same span in 2011.
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11.15.2012
A pension-fund surplus the U.S. Postal Service has been counting on to help dig out of its financial hole is smaller than previously estimated because of lower interest rates.
The projected excess in the Federal Employees Retirement System for benefits covering about 471,000 current postal employees shrank to $2.6 billion from $10.9 billion a year earlier, John Berry, director of the U.S. Office of Personnel Management, said in an Oct. 30 letter to Postmaster General Patrick Donahoe.
The lower estimated pension surplus adds to the financial woes of the Postal Service, which is scheduled on Nov. 15 to report its loss for the fiscal year ended Sept. 30. The agency has said it may lose $15 billion in fiscal 2012, during which it exhausted its borrowing authority from the U.S. Treasury. The service skipped two payments due to the U.S. Treasury totaling $11.2 billion for health benefits of future retirees, saying it couldn’t afford them.
Postal legislation the Senate passed in April would refund what was then an estimated $11 billion FERS account surplus and allow the post office to create its own health-benefits system. The Senate legislation would determine the repayment amount based on OPM’s analysis, meaning that sum would be less under the new estimate than it was when the bill passed.
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11.15.2012
Shiner International, Inc., an emerging global supplier of packaging solutions for food, tobacco, and consumer products, today announced its financial results for the quarter ended September 30, 2012.
Revenues for the three months ended September 30, 2012 decreased $1.9 million (or 10.2%), to $16.7 million compared to $18.6 million for the corresponding period in 2011. The decrease was primarily attributable to decreased revenues from coated film, color printing, advanced film and water-based latex, which was partially offset by increase in revenues generated from BOPP tobacco. For the three months ended September 30, 2012, revenue from coated film revenue decreased $3.2 million (or 46.4%) to $3.7 million from $6.9 million for the corresponding period in 2011, and sales from color printing decreased $0.4 million (or 28.7%) to $1.0 million from $1.4 million for the corresponding period in 2011. For the three months ended September 30, 2012, revenue from BOPP tobacco increased $3.2 million (or 45.0%) to $10.3 million from $7.1 million for the corresponding period in 2011; revenue from advanced film decreased $1.4 million (or 46.0%) to $1.6 million from $3.0 million for the corresponding period in 2011; and revenue from water-based latex decreased $0.1 million (or 98.6%) to $0.01 million from $0.1 million for the corresponding period in 2011.
Shiner's gross profit for the three months ended September 30, 2012 was $1.4 million, a profit margin of 8.7%, a decrease of 2.7% from 11.4% for the corresponding period in 2011. The decrease in profit margin was primarily a consequence of an increase in labor costs and depreciation of new property.
Operating loss for the three months ended September 30, 2012 was $3.2 million, compared to operating income of $0.3 million for the corresponding quarter ended September 30, 2011.
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11.15.2012
A report released Wednesday by the International Council of Shopping Centers and Goldman Sachs found that consumers are more willing to spend this holiday season.
According to the 2012 Holiday Spending Intentions Survey, 19% of consumers plan to spend more (and 5% plan to spend substantially more) on holiday gifts this year versus last year. This is the highest percentage of consumers reporting they intend to increase spending over the previous holiday season since ICSC began asking the question in 2004.
The top three holiday-gift items for 2012 are gift cards (21.3%), apparel (14.1%) and toys and games (14.1%). Gift cards have consistently been one of the top items that consumers exchange during the holiday season, which is a key reason why the holiday season has been extended into January as gift-card redemptions dominate shopping in the post-Christmas period.
The top items that consumers say they want for this holiday season are: (1) gift cards (59%); (2) electronic gadgets (38%); and (3) electronic media (28%), which today spans music, CDs, DVDs and e-books. Interestingly, the ICSC-Goldman Sachs survey found that women are more inclined to want a gift card than men (63% versus 55%). However, men are more inclined to want electronic gadgets for their holiday gifts than women (46% versus 31%).
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11.15.2012
The b2b segment has always embraced digital distribution more fully than consumer books, especially for international reach and custom publishing projects. And now circulation auditing group BPA Worldwide reports that more than a fifth of circ for its members is from digital editions. The share of publishers issuing digital copies expanded 6.4% for the first half of 2012, which now comprises just under a third ( 32.4%) of all magazine titles. BPA audits both b2b and many consumer enthusiast titles, but digital circulation is far and away strongest among its business titles.
Leading the pack in digital subscribers is Chief Executive China, with 330,000, amounting to 81.1% of its total circulation. PM Network’s 287,328 digital subs account for 77.1% of circ. The highest share of circ going through the digital channel is enjoyed by IEEE Communications, which is 100% digital. , followed by PT in Motion with 89.1%.
Among the b2b/consumer crossover titles in the mix, Macworld had 38,923 digital subs, or 17.6% of its total. And Foreign Policy had 30,113 digital subs, or 29.8% of its total. Foreign Policy has been successful in bundling digital editions into a range of premium member offers in recent years. And with its international base, digital distribution is the only cost-efficient and timely way to get the magazine to many of its worldwide constituencies.
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11.15.2012
The Mayr-Melnhof Group closed the third quarter of 2012 with a clear profit improvement compared to the previous quarters. In the reporting period from January to September 2012, we thus managed to maintain the previous year's high-level earnings despite non-recurring expenses in connection with the closure of a folding carton plant in Great Britain and increasingly challenging market conditions. Due to the economic downturn, the demand in our European main markets remained volatile and restrained. However, our focus on packaging for convenience goods and the wide geographical distribution of sales permitted a good capacity utilization in the first three quarters.
With the acquisition of Plegacol, another major Columbian folding carton manufacturer, Mayr-Melnhof Packaging has become the market leader in folding carton packaging in Columbia. Moreover, additional growth momentum is being provided particularly by the new plants in Poland and Turkey as well as by selected cartonboard export markets.
The consolidated sales of the Group totaled EUR 1,467.2 million and were therefore 2.1 % or
EUR 31.6 million below the previous year's figure (1-3Q 2011: EUR 1,498.8 million). An increase in MM Packaging’s average sales prices is offset by a slight decline in the cartonboard sales volume.
Operating profit amounted to EUR 130.0 million, and was thus 4.0 % or EUR 5.4 million down from the previous year's value (1-3Q 2011: EUR 135.4 million), whereby non-recurring expenses of around EUR 9 million relating to the closure of the English packaging plant in Liverpool also had to be accounted for. However, the Group’s operating margin of 8.9 % almost reached the previous year’s level (1-3Q 2011: 9.0 %).
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11.15.2012
Catalyst Paper announced today that it has received conditional approval for the listing of its new common shares on the Toronto Stock Exchange.
The listing is subject to standard conditions and Catalyst expects to satisfy these conditions in the near future. Catalyst anticipates that its common shares will be listed for trading within the next 30 days and will issue a release in advance of the anticipated listing date.
Catalyst Paper manufactures diverse specialty mechanical printing papers, newsprint and pulp. Its customers include retailers, publishers and commercial printers in North America, Latin America, the Pacific Rim and Europe. With three mills, located in British Columbia, Catalyst has a combined annual production capacity of 1.5 million tonnes. The company is headquartered in Richmond, British Columbia, Canada and is ranked by Corporate Knights magazine as one of the 50 Best Corporate Citizens in Canada.
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11.15.2012
Oil traded near the highest level in more than a week after Israel attacked the Gaza Strip, raising concern that Middle East unrest would disrupt supply. A report showed U.S. stockpiles rose to the highest since July.
Futures were little changed in New York after advancing for the first time in three days yesterday. The air strikes killed Ahmed al-Jabari, the leader of Hamas’s military wing, according to Gaza’s Health Ministry. The Israeli army said it called up reserves for a possible infantry assault on Gaza that would be the first since 2008. U.S. crude inventories climbed 1.35 million barrels last week, data from the American Petroleum Institute showed. Government data today may show a gain of 2.65 million barrels, according to a Bloomberg News survey.
“Middle Eastern tension will skew the bias to the upside,” said Michael Poulsen, an analyst at Global Risk Management in Middelfart, Denmark. “We continue to advise consumers to take advantage of any dips in the market.”
Crude for December delivery was at $86.31 a barrel, down 1 cent, in electronic trading on the New York Mercantile Exchange at 10:33 a.m. London time.
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11.14.2012
China Shengda Packaging Group Inc., a leading Chinese paper packaging manufacturer, today announced its financial results for the three months ended September 30, 2012.
"The third-quarter results were below our expectations due to slack demand resulting from macroeconomic headwinds faced by our customers. Although this led to a decline in both sales volume and revenues, we managed to control raw material costs, largely maintain pricing, and improve sales mix in favor of higher-margin color cartons. We therefore achieved higher gross margin both sequentially and on a year-over-year basis. However, we continued to face a challenging and competitive business environment that required increased sales and marketing spending making it harder to control operating expenses," said Mr. Daliang Teng, Chief Executive Officer of China Shengda Packaging.
Revenues decreased 1.8% to $33.0 million from $33.6 million in the prior year period. The decrease was attributable to the decrease of sales volume, partially offset by the increase in average prices per square meter. Sales volume decreased by 3.2 million square meters, or 3.6%, to 84.4 million square meters for the three months ended September 30, 2012, from 87.6 million square meters for the same period of 2011. The decreased sales volume was mainly the result of the challenges associated with unfavorable domestic and foreign economic environment, which adversely affected the business of many customers. The average price per square meter increased by 1.9% to $0.39 for the three months ended September 30, 2012 from $0.38 in the same period of 2011.
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11.14.2012
Experian Marketing Services said Monday that its Consumer Expectation Index shows an increasing optimism about the economy. According to the CEI, U.S. consumers’ forward-looking view of the economy is at its highest level since the onset of the recession. During the first half of 2012, the average CEI figure was 92.7, which is above the index’s average of the first six months for each year dating back to 2008. The 2012 figure measured eight points above those for the first half of 2008 and one point over those for the first half of 2011.
The CEI figures for the first half of 2012 show confidence among consumers planning to buy a new home within the year at its highest level since the onset of the recession. During the first half of 2012, the average CEI figure was 100.4, which is above the index’s average for the first six months for each year dating back to 2008. The 2012 figure measured 2.5 points above the first half of 2011. On a related topic, the CEI of those intending to refinance over the next 12 months was 4.3 index points above the first half of 2011, or 5% higher.
The same trend held true for consumers looking to buy or lease a new automobile, as the first half of 2012 showed the average CEI figure was 98.2, which is above the index’s average of the first six months for each year dating back to 2008. The 2012 figure measured 4 index points above the first half of 2011.
According to Experian Marketing Services, as we head into the 2012 holiday season, numerous events and factors could affect consumer confidence, but the latest CEI figures indicate the potential for a strong seasonal performance for retailers. The CEI figure for the week of Sept. 3, 2012 (the most recent single week for which data is available) was 7.4 points higher than it was at the same point last year and higher than it has been heading into the holiday season since 2008.
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11.14.2012
Esquire announced today that the December issue, on newsstands November 20, will be the first-ever completely interactive, shareable magazine. By using Netpage, the app for paper, readers can now digitally clip, save, and share every article, ad, and photo from the print edition of Esquire. Readers can also play exclusive videos and purchase items right from the page for an entirely new way to experience a magazine.
“We are always looking for ways Esquire can expand on the magazine experience,” says David Granger, editor-in-chief, Esquire. “We did a cover on which words and images moved, we did the first augmented reality issue and now, by partnering with Netpage, we’ve made our December issue the first completely interactive magazine.”
Netpage is a new, free iPhone™ app for paper. Netpage makes the entire surface of every magazine page interactive. This makes it easy to digitally clip and save any article, photo, or ad or share it through email, text, Facebook, Twitter, and other social networks. Netpage is powered by a unique combination of image recognition, augmented reality and Digital Twin™ technology. No special code, watermarks or special printing processes are required.
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11.14.2012
The highly volatile raw material markets in 2012 necessitate Flint Group to increase prices for all Coldset, Heatset, Publication Gravure, Sheetfed, Packaging and Narrow Web Inks and Coatings and Press Room Chemicals as of 1 st Jan 2013.
In 2012, the global raw material markets have continued to be highly volatile. Despite the rather flat economic outlook, there are still many challenges for the supply chain. Demand from the emerging markets is rising while supplier production capacities shrink , putting pressure on the entire printing ink sector.
Wolfgang Blumschein, Vice President Sales, Print Media Europe adds “The situation is further aggravated by the weak Euro, as most world market base materials are traded in USD or USD-related currencies, like the Chinese Yuen. This will inflate the raw material prices even further for the foreseeable future” He continues, “In addition to these pressures on the raw material markets, significant cost increases in transport, packaging and energy have also had an impact on our industry and are expected to rise further in 2013.”
The price increase will generally range from 2% - 6% depending on the product segment. There may though be some products that lie outside this range due to the type and concentration of raw materials making up their composition.
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11.14.2012
A significant one-time credit arising from reorganization gains and “fresh-start accounting” valuation adjustments resulted in third quarter net earnings of $655.7 million for Catalyst Paper. The company emerged from creditor protection on September 13, 2012 with significant debt and cost-structure improvements.
Net earnings this quarter contrast with a net loss of $11.7 million the quarter before. Sales were essentially unchanged at $265.7 million. The net after-tax restructuring-related credit was $688.1million. An after-tax foreign exchange gain on translation of U.S. dollar denominated debt of $25.2 million further supported Q3 earnings.
Before these and other specific items, Catalyst posted a net loss for the third quarter of $48.7 million, compared to a net loss of $5.0 million in the prior quarter. Earnings before interest, tax, depreciation and amortization (EBITDA) in the third quarter were $13.8 million and EBITDA before restructuring costs was $14.0 million, compared with EBITDA of $17.0 million and EBITDA before restructuring costs of $16.9 million in the second quarter.
“The third quarter marked a turning point for Catalyst as we exited creditor protection with a stronger balance sheet, lower interest costs and lower annual operating costs going forward,” said President and CEO Kevin J. Clarke. “This puts us on stronger operational footing to address ongoing market dynamics. And it means Catalyst can now take a much more active role in the transformation of the industry as a whole.”
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11.14.2012
With more than 20 schools in New York City unable to reopen and dozens of schools in New Jersey still closed in the wake of Hurricane Sandy, Scholastic, the global children’s publishing, education and media company, today announced that it will donate one million books to schools and libraries in the hardest-hit areas of the tri-state region. To help in the recovery efforts with support for the educators, families and students who have suffered losses, Scholastic is accepting book grant requests at www.scholastic.com/bookgrants and will provide new books and resources that will help get tens of thousands of students reading and learning again, despite severely challenging circumstances. Scholastic is grateful to be working with the nonprofit Kids in Distressed Situations, Inc., to help distribute the million books to the schools and libraries that need them the most.
In addition to the loss of books in schools, many teachers have lost vital instructional resources and lesson plans that they have accumulated over the years, so Scholastic is also making available a rich array of free, grade-leveled lesson plans and activities for these educators. Teachers in neighborhoods impacted by the storm will receive an email from Scholastic with a link to the free, downloadable, ready-to-use materials that can immediately support their classroom instruction and provide purposeful practice for their students as they begin to rebuild their classroom resources.
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11.14.2012
Crude rose for the first time in three days, buoyed by speculation that Japan may pursue more aggressive monetary easing, potentially buoying fuel demand.
Futures gained as much as 0.7 percent as the S&P GSCI Index of commodities advanced for the first time in three days. Japan’s Prime Minister Yoshihiko Noda said he is willing to dissolve parliament on Nov. 16, pushing the yen lower as investors speculated that the central bank would add stimulus to revive the economy. U.S. inventories probably climbed last week to the highest in more than three months, according to a Bloomberg survey before a government report tomorrow. U.S. equity futures rose.
“It looks like it’s stock-market related,” Ole Hansen, the head of commodity strategy at Saxo Bank A/S in Copenhagen, said by telephone. “There’s a feeling creeping in that the worst is over for equities.”
Crude for December delivery climbed to a high of $86 a barrel and was at $85.63 a barrel, up 25 cents, in electronic trading on the New York Mercantile Exchange, at 11:09 a.m. London time. The contract declined 19 cents to $85.38 yesterday, the lowest close since Nov. 8. Prices lost 13 percent this year.
Brent oil for December settlement, which expires tomorrow, was up 38 cents at $108.64 a barrel on the London-based ICE Futures Europe exchange. The more actively traded January contract gained 42 cents to $107.76. The European benchmark crude was at a premium of $23.08 to New York futures.
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11.14.2012
Penton Media today acquired Farm Progress, a holding company that includes 23 agricultural magazine titles, four expositions, digital and broadcast products as well as investment data.
Penton bought Farm Progress from Sydney-based Fairfax Media for $79.9 million. Farm Progress will become part of the Penton Agricultural Group, which Penton has described as “the largest, most diversified agriculture information business in North America.”
“Our investment is supported by several inarguable global economic trends, including rising demand for nutrition, limited arable land and water, and strong export potential for agriculture products, capital equipment and related production technology into developing countries,” said Penton CEO David Kieselstein, in a statement.
The acquisition more than doubles Penton's position in agriculture, which already includes publications and products for farmers and pork producers. Agriculture is Penton's largest sector.
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11.14.2012
NewPage Corporation (NewPage) announced today that it has increased its supply-chain preference for pulpwood procured from certified woodland owners, including those certified to the American Tree Farm System® (ATFS).
NewPage, the leading producer of printing and specialty papers in North America, is the largest buyer of pulpwood in the Great Lakes States. In 2011, 48 percent of the fiber (wood and pulp) purchased by NewPage came from certified sources.
According to Gordy Mouw, NewPage Certification and Resource manager, the procurement preference reflects the company's commitment to forest stewardship as well as its efforts to meet the growing demand of its customers seeking paper sourced from certified timberlands. In addition to ATFS, NewPage has established preferences for wood certified by the Forest Stewardship Council® and the Sustainable Forestry Initiative®.
"Adding certified ATFS wood to our supply-chain addresses our customers' interests, our own commitment to sustainability, and helps family forest owners by expanding markets for their wood products," Mouw said. "This in turn helps them keep their forest land forested."
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11.14.2012
Staples, Inc. announced today the results for its third quarter ended October 27, 2012. Total company sales for the third quarter of 2012 were $6.4 billion, a decrease of two percent in U.S. dollars and one percent on a local currency basis compared to the third quarter of 2011. As a result of previously announced charges, on a GAAP basis, the company reported a net loss of $569 million, or $0.85 per share, from continuing operations attributable to Staples, Inc., compared to net income of $324 million, or $0.46 per diluted share, achieved in the third quarter of 2011. Excluding the impairment of goodwill and other assets, as well as restructuring, accelerated amortization, and related tax charges incurred during the third quarter of 2012, the company reported non-GAAP net income from continuing operations attributable to Staples, Inc. of $310 million, or $0.46 per diluted share.
“During the third quarter we launched a new strategic plan to become the product authority for businesses, restructured our organization, and generated solid earnings excluding charges,” said Ron Sargent, Staples’ chairman and chief executive officer. “Going forward, we are in a much stronger position to pursue our best growth opportunities.”
(dollar amounts in millions, except per share data)Q3 2012Q3 2011Year over YearChangeTotal company sales$6,353$6,481-2.0%Total company sales growth on a local currency basis*-1.4%GAAP operating (loss) income($357)$529($886)Non-GAAP operating income*$500$529($29)GAAP operating (loss) income rate(5.62%)8.17%(1,379 basis points)Non-GAAP operating income rate*7.87%8.17%(30 basis points)GAAP (loss) income per share from continuing operations attributable to Staples, Inc.($0.85)$0.46($1.31)Non-GAAP earnings per diluted share from continuing operations attributable to Staples, Inc.*$0.46$0.46$0.00
Total company non-GAAP operating income rate declined 30 basis points to 7.87 percent from an operating income rate of 8.17 percent achieved during the third quarter of 2011. This decline primarily reflects lower product margins in North American Delivery and International and investments to drive growth in Staples.com. The decline was partially offset by reduced compensation and marketing expense.
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11.13.2012
Twin Rivers Paper Company today announced that it has joined Two Sides, the fast-growing non-profit organization established to promote the responsible production, use and sustainability of print and paper.
“Environmentally responsible manufacturing is core to our operations, so working with Two Sides to promote the sustainable aspects of paper and print is a natural fit for Twin Rivers,” says the company’s Director of Marketing and Business Development Dave Deger. “Twin Rivers remains firmly committed to the lightweight publishing markets and is excited to work with Two Sides to help tell the powerful story of paper and print.”
“Print and paper have a great environmental story to tell, and Two Sides is committed to spreading the word as our U.S. effort continues to grow,” says Two Sides President Phil Riebel. “Print and paper will continue to be an important communications tool that will co-exist with electronic communication, so it’s important that we continue to educate people about the renewable nature, recyclability and other sustainability benefits of ink on paper,” he says. “It’s also important to let people know that the print, paper and mail value chain is a vital part of our economy, supporting millions of jobs across the United States.”
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11.13.2012
Tronox Limited today reported revenue of $487.3 million in the third quarter, up 5 percent versus revenue of $465.4 million in the third quarter of 2011. The current quarter includes $216.1 million of revenue from acquired business. Adjusted EBITDA was $131.1 million in the third quarter, compared to adjusted EBITDA of $140.9 million in the year-ago quarter. The current quarter includes $106.8 million of adjusted EBITDA from acquired business. Included in current quarter earnings is $85.2 million of net amortization related to the fair value step-up of inventory and unfavorable feedstock sales contracts, primarily associated with the mineral sands acquisition. The company reported a net loss of $16.7 million, $0.14 per diluted share in the third quarter 2012. Adjusted net income in the current quarter was $25.6 million, or $0.21 per diluted share, versus $1.45 per diluted share in the third quarter 2011. Adjusted earnings per diluted share in the current quarter are based on 122.4 million fully diluted shares outstanding versus 79.2 million fully diluted shares outstanding in the year-ago quarter.
Tom Casey, chairman and CEO of Tronox, said: "The third quarter of 2012 was our first full quarter of operating as a vertically integrated supplier of minerals sands and pigment. We made good progress on the integration during the quarter, but its advantages are not yet reflected in our financial performance as we continued to consume market-priced feedstock under legacy purchase contracts. This resulted in a higher cost of goods sold for the company this quarter compared to coming quarters as we transition to consuming our own feedstock at cost of extraction and beneficiation and selling the long portion of feedstock at market prices. Our merger has uniquely positioned us to maximize margin and cash flow in ways that no other producers can."
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11.13.2012
It is unlikely that Ikea could alert shoppers to its increasing digital presence by changing its name to iKea, trademark laws being what they are. Perhaps the next best thing is what the Ikea United States division plans to announce on Monday: an initiative centered on what executives call their first interactive seasonal catalog.
The 31-page catalog, known as Celebrate Brilliantly, is being introduced in time for Thanksgiving and the Christmas shopping season. It can be read and watched on a section of the Ikea U.S. Web site, ikea-usa.com/celebrate.
Why “watched” in addition to “read”? The contents include video clips as well as integrations with Ikea’s presence in social media like Facebook and Pinterest. Other interactive elements include a feature to change the furniture and accessories in a photograph by using a mouse to “pull down” a virtual window shade.
“Over the last several years, we’ve continued to try to see which space our consumers are in,” said Christine Whitehawk, communications manager at Ikea U.S. in Conshohocken, Pa. “Like other retailers, other advertisers, we’re realizing they’re more and more involved with digital.”
Ikea U.S. has had “an online version of our print catalog for several years, but it’s basically a PDF version,” she added, so having the interactive catalog adds the benefits of being “able to monitor how people respond, the areas where they don’t respond, and look at how they’re using it, how many are using it and how it gets shared.”
The catalog is being produced by the Brownstein Group in Philadelphia, an agency that has worked with Ikea U.S. since 2006 on retail-oriented advertising assignments that run in traditional as well as digital media. Plans call for three additional seasonal catalogs next year, Ms. Whitehawk said.
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11.13.2012
Selling a t-shirt in Massachusetts isn’t so hard—the state’s sales tax is a smooth 6.25% statewide. But try to sell that same item in Alabama, for example, and a retailer will need to figure out not only the state sales tax rate, but the county, district and potentially sub-district rates that apply in the exact location of the sale, says Charles Maniace, director of tax research in the sales, use and value-added tax division at ADP, which sells software to calculate sales tax for e-retailers and help them file returns.
The variations in which items are taxed and at which rates are more complex for an online retailer than for any given physical store. A store in Mobile, AL, for example, will know whether it has to charge tax on a T-shirt and the rate. But an online T-shirt retailer has to be able to instantly calculate any applicable taxes, and know the rules for Mobile, Boston and all the 10,000 taxing jurisdictions in the United States
Software and services like ADP’s help e-retailers selling all over the country not only make sure they are taxing consumers at the correct rates, but save time and resources spent tracking rule changes, adjusting checkout prices, accounting and filing returns.
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11.13.2012
Oil declined for a second day in New York amid speculation that U.S. crude inventories rose last week and after the International Energy Agency cut its forecast for global demand growth this quarter.
Futures slipped as much as 1.2 percent. U.S. crude stockpiles probably increased last week to the highest level in more than three months, according to a Bloomberg survey before an Energy Department report on Nov. 15. OPEC will need to pump less crude this quarter as demand growth slows, the IEA said. Oil slid yesterday as investors awaited budget talks in the U.S., and extended losses after European leaders said they’ll meet again Nov. 20 to discuss additional funding for Greece.
“Primarily bearish winds are blowing in oil markets at the moment,” said Filip Petersson, a commodities strategist at SEB AB in Stockholm who predicts Brent crude will average $110 a barrel this quarter. “On the macro side, bearish influences are coming from a new wave of Greek worries and the approaching U.S. fiscal cliff.”
Crude for December delivery slid as much as 99 cents to $84.58 a barrel in electronic trading on the New York Mercantile Exchange and was at $85.49 at 12:10 p.m. London time.
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11.13.2012
Bertelsmann, the international media group, reports a year-on-year increase in revenues and group profit after the first nine months of the 2012 fiscal year. Group revenues from continuing operations increased by 5.7 percent to €11.4 billion during the reporting period (previous year: €10.8 billion). Organic growth, adjusted for portfolio and currency effects, was 4.0 percent. Operating EBIT increased by 5.8 percent to €1,095 million (previous year: €1,035 million). Return on sales was 9.6 percent (previous year: 9.6 percent). Group profit increased significantly to €528 million (previous year: €377 million) during the reporting period, thanks to lower special items.
Bertelsmann Chairman & CEO Thomas Rabe comments: “We are satisfied with our business performance during the first nine months of the year. Bertelsmann is growing organically, profitability remains high, and we are making good progress on reshaping the group. We continue to expect moderate revenue growth and a continued high Operating EBIT for the full year. Group profit will be impacted in particular by special items from the print business and several direct-to-customer businesses as well as from our operations in southern Europe. Also, the subdued economic outlook and the Euro crisis make it difficult to predict our future performance at this point.”
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11.13.2012
Ziff Davis Inc. has been sold to j2 Global Inc., a provider of business cloud services, for approximately $167 million. The purchase price was funded out of j2's cash on hand, according to the company.
“We have years of experience and significant interest in the digital media and online marketing space, both as a large scale consumer of advertising (~$50M per year) and as a seller of advertising on our ad-supported properties and a provider of marketing and advertising services through Campaigner,” said Hemi Zucker, j2 Global's CEO, in a statement. “This acquisition brings scale to this effort with a top leadership team deeply committed to building the business through organic growth, which we expect to continue. This is our 40th acquisition and we plan to grow the business in the same way we have our others -- through a combination of internal growth and acquisitions.”
Current Ziff Davis brands include PCMag.com, ComputerShopper, ExtremeTech, Toolbox.com and Geek.com. Earlier this year, the company's b-to-b unit, Ziff Davis Enterprise, was sold to QuinStreet, a lead-gen marketing company.
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11.13.2012
The American Forest & Paper Association (AF&PA) presented its first ever Better Practices, Better Planet 2020Sustainability Awards at the association’s annual meeting on Friday, Nov. 9 in Scottsdale, Ariz.
Designed to recognize exemplary sustainability programs and initiatives, the awards are to be given based on the merit of entries received across multiple categories. This year, five companies were chosen to receive awards.
“These awards symbolize our commitment to sustainability and the strides our members have made to constantly improve our business practices,” said AF&PA President and CEO Donna Harman. “We have long been sustainability leaders, and now AF&PA is recognizing the very best of our members’ leadership and innovation across the spectrum of what constitutes sustainability.
“Thanks to our members’ efforts, we will continue to make progress toward achieving the industry’s sustainability goals, setting the bar for other industries.”
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11.13.2012
UPM is one of seven paper producers to receive an award from the WWF (World Wide Fund For Nature) in the category of ‘Transparency’ during the 2012 WWF Environmental Paper Awards. The award recognizes UPM’s efforts in providing public information on the environmental footprint of the majority of its paper products in ‘Check your paper’: a global benchmarking database of eco-rated papers that promotes the responsible supply chain of paper products.
“Transparency is essential to driving environmental performance and ensuring customers have the necessary information to make responsible purchasing decisions”, commented John Sanderson, Director of Environmental Market Support for UPM.
In addition, two paper brands of UPM have received the WWF Environmental Paper Award 2012 in the category “Best Environmental Performance Paper Brands” reaching over 90% of achievable scores in WWF´s eco-rating and the maximum 5 stars in all performance categories: forest, water and climate. UPM has published 66% of coated paper, 22% of uncoated paper and 11% of its newsprint on WWF´s ‘Check Your Paper’ database where users can assess how papers rate against criteria such as management of forests, greenhouse gas emissions, water pollution and waste, all of which are also combined into a single measure to rate each paper grade overall.
“Increased transparency of value chains is a sign from companies that they want to improve their environmental and social responsibility. I’m delighted by this development and encourage companies to provide transparent information also in the future”, said Liisa Rohweder, CEO of WWF Finland.
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11.13.2012
There is a saying in showbusiness that you should never work with animals and children but today (13 November 2012) actress Tamsin Greig will do exactly that!
As part of the national launch of Booktime 2012, the award-winning free books programme for reception-aged children in England and Wales, Tamsin - who is most recently famous for her role in BBC2's Episodes series - will read the story book The Tale of a Naughty Little Rabbit to pupils at The Cathedral School of St Saviour and St Mary Overy primary school in Southwark, London.
As well as 30 primary school children, Tamsin will be joined by some furry friends from Animal Magic Mobile Zoo and honorary guest, Peter Rabbit.
This year, over 1.45 million books will be gifted to 731,000 children in their first year of school through Booktime, which aims to inspire a lifelong love of reading by encouraging families to have fun reading together. Each free book pack is a timely reminder of the continuing importance of sharing stories with children even when they have started school. Children in England will receive their book packs this autumn term, containing The Tale of a Naughty Little Rabbit, published by Frederick Warne &Co., an imprint of Penguin Children's, and Tim's Din, from the Phonics Bug series by Pearson.
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11.13.2012
Avery Dennison Corporation has renamed and repositioned its medical solutions group as Vancive Medical Technologies™. The new name replaces Avery Dennison Medical Solutions and emphasizes the company’s renewed focus on creating intuitive, cost-efficient products that help improve the quality and outcomes of healthcare.
“The new brand reflects the evolution of our business and the role we intend to play in the future of healthcare innovation,” says vice president and general manager of Vancive Medical Technologies Howard Kelly.
“Over the past three years, we have brought an unprecedented level of initiative and ingenuity to the medical device marketplace, allowing us to extend beyond our traditional products. The Vancive name demonstrates our commitment to continue developing technologies and solutions that make healthcare easier and more accessible for care providers and their patients.”
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11.13.2012
The Home Depot®, the world's largest home improvement retailer, today reported sales of $18.1 billion for the third quarter of fiscal 2012, a 4.6 percent increase from the third quarter of fiscal 2011. Comparable store sales for the third quarter of fiscal 2012 were positive 4.2 percent, and comp sales for U.S. stores were positive 4.3 percent.
Net earnings for the third quarter were $947 million, or $0.63 per diluted share, compared with net earnings of $934 million, or $0.60 per diluted share, in the same period of fiscal 2011. These results reflect a nonrecurring charge of approximately $165 million, net of tax, or $0.11 per diluted share due to the previously announced closing of seven stores in China. On an adjusted basis, the Company reported net earnings of $1.1 billion, or $0.74 per diluted share, a 23.3 percent increase from the same period in the prior year.
"Our third-quarter results were better than we expected and reflected, in part, what we believe is the start of the path toward the healing of the housing market," said Frank Blake, chairman & CEO. "I particularly want to thank all of our associates who are helping the communities impacted by Hurricane Sandy. They are working under difficult circumstances, often with their own lives and homes disrupted by the storm, and their efforts exemplify our core values."
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