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01.10.2012
AbitibiBowater Inc., doing business as Resolute Forest Products, today announced that it would issue a notice of variation to the offer circular and other ancillary documentation in connection with its outstanding offer to acquire Fibrek Inc. (Fibrek, TSX: FBK). The notice of variation will describe certain changes to the offer documents, including the registration statement filed with the U.S. Securities and Exchange Commission ("SEC"), the sole purpose of which are to address comments from the SEC in its customary review process. From the perspective of Fibrek's shareholders, the terms of the offer are substantially consistent with the original offer.
"We are committed to move forward and are addressing one of the regulatory steps in our offer to purchase Fibrek," said Richard Garneau, President and Chief Executive Officer. "We also acknowledge Fibrek's directors' circular filed on SEDAR on December 30. It does not change our firm belief that the offer we announced on November 28th presents Fibrek's shareholders with a compelling opportunity. The fact that three of their largest individual shareholders, representing approximately 46% of the outstanding shares, have agreed to tender their shares to our offer supports that belief."
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01.10.2012
Oil rose in New York for the first time in four days on growing concern that the dispute between Iran and western governments may lead to a disruption in Middle East crude exports.
West Texas Intermediate climbed as much as 1.5 percent as German Chancellor Angela Merkel prepared to meet International Monetary Fund Managing Director Christine Lagarde today in Berlin. The Organization of Petroleum Exporting Countries can’t get involved in a dispute between the U.S. and Iran over sanctions, according to Venezuela’s oil minister Rafael Ramirez. President Barack Obama is prepared to use military force to prevent Iran from acquiring a nuclear weapon if sanctions and diplomacy fail, his former special assistant on Iran said.
“Iran is still the main reason why WTI surpassed the $100 mark,” said Hannes Loacker, an analyst at Raiffeisen AG in Vienna, who plans to raise his first-quarter forecast of $82 because of the conflict. “If there is military escalation, though I don’t think this will happen, Iranian oil exports will disappear from the global market. If there’s no intensification, the risk premium will be priced out in the next couple of months.”
Crude for February delivery rose as much as $1.56 to $102.87 a barrel in electronic trading on the New York Mercantile Exchange. It was at $102.69 at 10:40 a.m. London time. Yesterday, the contract slid 0.3 percent to $101.31, the lowest close since Dec. 30.
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01.10.2012
EFI™, a world leader in customer-focused digital printing innovation, today announced that HardingPoorman Group has selected EFI Monarch and EFI PrintStream Fulfillment for its Indianapolis-based print, mailing and fulfillment operations.
The locally owned and operated HardingPoorman Group is one of North America's leading commercial graphics providers. Consisting of several integrated companies all under one roof, HardingPoorman Group's broad portfolio of services includes: sheetfed offset printing, UV printing, digital printing, variable data services, CD/DVD replication and automated packaging, mailing, comprehensive bindery, wide format signage, and fulfillment.
"We have always been committed to investing in the best technology available to support our employees and our customers," said David Harding, president. "Due to the growing needs of our customers and the expanding array of services that we offer, we outgrew our old systems. EFI's integrated solutions will not only bridge that gap but will serve our needs well into the future as we continue to expand."
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01.10.2012
Having kids doesn’t have to mean not taking care of yourself. Parents magazine teaches by doing. The magazine reveals its new look and content with the February issue. The design aimed for a warmer, softer, even more “emotional” feel for the 86-year-old title, according to Meredith. The individual pages have broken out of the template approach and often contain bits of handcrafted design.
At its core the magazine has been redesigned around five sections: Fun (projects), Kids (childhood info and news), You (health, fitness and beauty), Home (upkeep and décor) and Grow (age and stage-based content).
For the first half of 2011, Parents ad pages were down 6.5% compared to the same period in 2010, according to the Publishers Information Bureau. Meredith claims the title has 15 million monthly readers.
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01.10.2012
Increasingly, carriers are looking at package cube when pricing transportation. Why? because virtually every form of transportation, from airplanes to truck trailers, rail, ocean, and air freight, tends to "cube out" before it reaches it's maximum weight capacity. And this recent change is reflected in the ever tightening DIM factors that carriers have introduced over the past two years.
What is cube optimization? It means right-sizing your packages and fitting your orders into packaging dimensions that are as small as possible without threatening the integrity of the order.
Cube optimization analysis is a study of actual weight versus dimensional weight with the objective of reducing or eliminating dimensional weight charges in favor of actual weight charges.
Merchants should conduct a comprehensive and detailed cube analysis with an eye toward determining where these improvements can be made for better package optimization. Cube improvements will result in a number of downstream benefits:
Less corrugated utilization. Lower damage rates due to smaller, stiffer boxes. In some cases, billing weights will drop by one lb or more, due to less packaging content. Reduce or eliminate dunnage material. Better fill rates for ocean containers, pallets, and air freight ULD's...Read more:
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01.10.2012
KBA North America announces that PaperWorks Industries, a leading North American integrated full-service packaging provider based in Philadelphia, will be adding a new 56?Rapida 142 seven-color press with UV capabilities to its facility in Mt. Gilead, NC. The press is due to be delivered in the next few days with a mid-March start-up date after installation and press training.
“Our new KBA Rapida 142 will service our entire customer base of high-end packaging brands,” says Jim Downey , general manager of the facility. “It will provide us with the ability to offer even faster turnaround times and higher quality and allow us to be more responsive to our customers due to the unique features on press that we didn’t have before.”
These features, explains Downey, include UV capabilities as well as KBA’s unique QualiTronic Color Control closed loop in-line color density measurement and control system, the first of its kind in sheetfed offset.
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01.10.2012
M&D Printing has launched M&D Logistix, a division dedicated to tabloid-format, mixed-class co-mailing for printers. Housed in a separate facility, M&D Logistix enhances the company’s co-mailing services by targeting the tabloid-size markets, allowing your clients to realize additional postage savings and predictable delivery times.
The new division has begun ramping up production of mixed-class, co-mail pools. M&D Logistix has partnered with Print & Mailing Solutions-ALG in order to provide a nationwide distribution platform that delivers daily to hundreds of USPS sorting facilities for optimal mail stream penetration.
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01.09.2012
Verso Paper Corp. today announced that the company has completed a $45 million renewable energy project at its pulp and paper mill in Quinnesec, Michigan. The project includes design upgrades to the mill's existing combination boiler (which burns biomass from waste wood sources), a new biomass handling system, and a new turbine generator. The project is delivering 28 megawatts of additional green energy for consumption within the mill, which is equivalent to the amount of electricity consumed by 18,000 homes in a year.
"The completion of the Quinnesec renewable energy project is a milestone in the implementation of Verso's long-term energy strategy," said Verso President and CEO Mike Jackson. "Besides delivering annual energy savings, the project helps Verso deliver on our commitment to increase our use of renewable biofuel and thereby reduce our carbon footprint."
The boiler upgrades enable the mill to use renewable, carbon-neutral, wood-based biofuel for more than 95 percent of its on-site electricity generation. The new biomass handling system expands the mill's capabilities for processing residual wood such as tree tops, limbs and bark. Verso ensures that the expanded harvesting of this logging residue meets forest sustainability standards. The mill's boilers also will continue to burn black liquor, a byproduct of the wood pulping process.
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01.09.2012
The Yucaipa Johnson Fund and InterMedia will merge the Vibe Holdings and Uptown businesses with the BlackBook Media business and its owner Access Network. The resulting company, which will operate under the moniker Vibe Media, will manage Vibe, Uptown and BlackBook magazines.
In a prepared press statement, Magic Johnson (co-partner of the Yucaipa Johnson Fund) says, “We're interested in consolidating great brands that reach a large and attractive audience - specifically those which index well in the online and mobile arena. The technology we acquired as part of the Access Network will serve as a very important piece to enable us to reach consumers.”
According to Access Network’s website, its proprietary content management system acts as a “location-based service and marketing platform”. The local content management software is used by brands like ELLE and Maxim. Through the deal, all the media properties across the Vibe Media network will utilize Access Networks’ CMS and distribution platform, deemed AccessGeo.
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01.09.2012
Bonnier and AOL have partnered to share content and sales efforts around Bonnier's Parenting Group. Through the deal, Bonnier will provide AOL with Parenting.com content and AOL, with help from Bonnier, will create digital advertising programs around it.
The alliance allows AOL to bolster its mom-related content, giving it more targeted sales opportunities for that market, with Bonnier sharing in those sales while also reaping the traffic benefits. Parenting.com content will be integrated into various AOL channels—Huffington Post Parents, the AOL Family Channel and AOL's home page. Direct links back to Parenting.com will be promoted across those channels.
The partnership kicks off this quarter and essentially gives both companies bigger scale in the parenting vertical. Combined, Parenting.com, AOL Family and Huffington Post Parents reached 12.5 million users in November, per ComScore numbers. By itself, Parenting.com reaches an average of almost 3 million monthly uniques, according to Omniture.
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01.09.2012
Metsäliitto Group has started the testing of Finland's new FSC certification standard in part of its own forests. The Group's forests have already been certified according to the PEFC (Programme for the Endorsement of Forest Certification) standard. In future, the FSC standard will be applied in these forests as well.
The project covers the forests owned by Metsä-Botnia and Metsäliitto Cooperative, both part of the Metsäliitto Group. The total surface area of the forests is approximately 35,000 hectares. Metsäliitto expects to get the FSC certificate by the end of 2012, and will then offer its members who have forest management service agreement the option to join Metsäliitto’s FSC group certificate. Metsäliitto already offers a similar PEFC group certification to its members who have forest management service agreement.
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01.09.2012
White Birch Paper Company today announced that it has presented a global proposal to the employees of the idled Stadacona mill in Quebec City. Following a thorough analysis of the mill's cost structure, White Birch's proposal represents the final opportunity to implement the savings necessary for Stadacona to avoid permanent closure in light of significant manufacturing cost disadvantages, as well as the ongoing deterioration of economic conditions in the newsprint industry.
Commenting on the proposal, Christopher Brant, President, White Birch Paper Company said, "While I remain acutely aware of the pain that Stadacona's idling has already imposed on our valued employees and community, I must emphasize that the situation at the mill is extremely grave. Without significant reductions in salary, pension benefits and other costs Stadacona simply cannot survive." Brant continued, "In spite of the mill's dire economic situation, White Birch has made a final proposal to its unionized employees. Acceptance of this proposal is essential for the mill to resume operations and will help ensure the mill's long-term viability, while reestablishing its position as a valued employer in the Quebec community. The proposal we have submitted today represents the final opportunity to secure that outcome and I urge Stadacona's employees to give it serious consideration."
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01.06.2012
Best Buy Co., Inc., a leading multi-channel global retailer and developer of technology products and services, today reported revenue for the five weeks ended Dec. 31, 2011, of $8.4 billion, which was flat compared to the prior-year period and included a comparable store sales decline of 1.2 percent.
The company's Domestic segment generated $6.5 billion in revenue for fiscal December, an increase of 0.4 percent when compared with the prior-year period. The Domestic segment's revenue performance was driven by the addition of new stores in the past 12 months, partially offset by a comparable store sales decline of 0.4 percent.
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01.06.2012
The proliferation of devices is increasing access to content, which recent data suggest is driving more consumption. Released today, Deloitte's sixth edition "State of the Media Democracy" survey reveals that the introduction of new platforms has led to increases in the consumption of movies and books.
Deloitte's State of the Media Democracy (sixth edition) survey assesses media consumption preferences of nearly 2,000 consumers, ages 14 to 75 years old in the United States, revealing significant trends including increased access to content driving consumption, smartphones continuing to challenge other devices, and the role of DVRs in preserving consumers' cable and satellite television subscriptions.
The phenomenon of eBook readers increasing consumer purchases of books is another encouraging sign that digital content married with new devices can increase consumption. While only 23 percent of respondents preferred to be able to download their books, magazines and newspapers to a digital device in 2007, more than one-third of respondents (36 percent) now express interest in this option.
Newspapers have also benefitted from increased accessibility via smartphones. This year's survey found that 20 percent of leading millennials (respondents between the ages of 23 and 28) have read their favorite newspaper in the last six months on a smartphone - up from 9 percent last year. Eleven percent of leading millennials have also stated that this is their favorite method for reading the newspaper - up from 3 percent last year.
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01.06.2012
Oil headed for a weekly gain in New York on signs that the U.S. economic recovery is gaining momentum and concern that tensions with Iran may lead to a disruption in Middle East exports.
West Texas Intermediate futures have advanced 3.4 percent this week. Hiring in the U.S. probably accelerated in December for a second month, pointing to a strengthening labor market heading into 2012, economists said before a report today. The European Union is working to halt oil purchases from Iran, said Victoria Nuland, a U.S. State Department spokeswoman. European foreign ministers aim to announce harsher penalties on the Persian Gulf nation’s energy and banking industries at a meeting Jan. 30, according to EU spokesman Michael Mann.
“The recent string of better-than-expected macroeconomic indicators from the U.S. has rebuilt some of the optimism and risk appetite,” said Thina Saltvedt, an analyst at Nordea Bank AB in Oslo. “Iran has threatened to close the Strait of Hormuz, which would have an immense effect on the global oil market.”
Crude for February delivery was at $102.21, up 40 cents, at 11:05 a.m. London time. Yesterday, the contract fell $1.41 to $101.81, the lowest settlement this week. Prices gained 8.2 percent in 2011.
Brent oil for February settlement on the London-based ICE Futures Europe exchange rose 52 cents, or 0.5 percent, to $111.26 a barrel. The European benchmark contract was at a $11.05 premium to New York-traded West Texas Intermediate crude.
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01.06.2012
Total CWF deliveries declined 4.2% vs. November 2010 and were down 4.8% year to date. Total UWF deliveries declined 5.5% vs. November 2010 and were down 2.7% year to date.
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01.06.2012
Tokyo-based Kodansha is the first graphic arts company in Japan to invest in a SigmaLine digital book production system by Muller Martini. The leading Japanese publisher will in future have some of its books printed by a partner company using an HP T300 digital printing web press and will bind them using Muller Martini's Pantera perfect binder connected to the SigmaLine.
Kodansha is breaking new ground in response to steadily declining print runs in Japan. In the future, the country's largest publisher will print some of its mangas, bunkos and shinjos with runs of between 400 and 3,000 copies using a T300 digital web printing press from HP. The publications will be bound using a SigmaLine digital book production system by Muller Martini, which consists of a SigmaFolder (folding), a SigmaCollator (gathering) and a SigmaBuffer (buffering), as well as a Pantera digital perfect binder with a Esprit three-knife trimmer connected inline.
As Kodansha explained, the new production methods are designed to lower production and storage costs, as well as simplify the printing of new editions of out-of-print works. Kodansha itself has a small printing plant, but largely works together with various book binderies. The new digital book production system will be put into operation this coming spring at one of those partner companies located in Saitama, a neighbouring province of Tokyo.
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01.06.2012
American Eagle Outfitters, Inc. today announced that total sales for the two month November/December period ended December 31, 2011 increased 15% to $887 million, compared to $771 million for the same period ended January 1, 2011. Comparable store sales increased 12%, compared to a 7% decrease for the same period last year.
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01.06.2012
Daniel Hanson, president of Ovation Graphics, has announced that Ovation Graphics, a privately-held company, has purchased substantially all of the business assets of Branch-Smith Printing. Terms of the asset acquisition were not disclosed.
As part of its purchase, Ovation Graphics obtained the rights to the Branch-Smith name, continuing a 102 year-old tradition while concluding over 100 years of Branch family ownership.
Branch-Smith, the oldest printer in Tarrant County and the third oldest in the Dallas–Fort Worth Metroplex, had 2010 gross sales of $15.3 million and currently has 80 employees. The company specializes in providing high quality creative, commercial printing, binding and mailing services to a broad range of national publishers of association journals, catalogs, city magazines, business-to-business magazines, corporate newsletters, special-interest periodicals, and academic publications and books, as well as producing large-format packaging and retail marketing products.
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01.06.2012
For the five weeks ended December 31, 2011, same store sales increased 3.6 percent over the prior-year period. December front-end same store sales increased 0.7 percent. Pharmacy same store sales, which included an approximate 177 basis points negative impact from new generic introductions, increased 5.2 percent. Prescription count at comparable stores increased 3.2 percent over the prior-year period.
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01.06.2012
Aeropostale, Inc., a mall-based specialty retailer of casual apparel for young women and men, today announced that total net sales for the nine-week period ended December 31, 2011 decreased 5% to $682.6 million, from $718.5 million for the nine-week period ended January 1, 2011. The Company's same store sales decreased 10%, compared to a same store sales decrease of 4% for the same period last year.
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01.06.2012
Walgreens had December sales of $6.98 billion, an increase of 2.7 percent from $6.80 billion for the same month in fiscal 2011.
Total front-end sales increased 1.4 percent in December 2011 compared with the same month in 2010, while comparable store front-end sales increased 0.6 percent. Customer traffic in comparable stores decreased 0.6 percentage point while basket size increased 1.2 percent.
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01.06.2012
Nordstrom, Inc. today reported an 8.7 percent increase in same-store sales for the five-week period ended December 31, 2011, compared with the five-week period ended January 1, 2011. Preliminary total retail sales of $1.57 billion for December 2011 increased 12.7 percent compared with total retail sales of $1.39 billion for the same period in fiscal 2010.
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01.06.2012
Retailer Saks Incorporated today announced that owned sales totaled $452.5 million for the five weeks ended December 31, 2011 compared to $432.3 million for the five weeks ended January 1, 2011, a 4.7% increase. Comparable store sales increased 5.8% for the month.
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01.06.2012
Barnes & Noble, Inc., the leading retailer of content, digital media and educational products, today reported record holiday sales for its NOOK business, including devices and digital content. During the nine-week holiday period ending December 31, 2011, NOOK unit sales, including NOOK Simple Touch™, NOOK Color™ and the new NOOK Tablet™, increased 70% over the same period last year. Sales of NOOK Tablet exceeded expectations, while sales of NOOK Simple Touch lagged expectations, indicating a stronger customer preference for color devices.
Digital content sales also grew briskly during the same nine-week period, increasing 113% on a comparable basis. Content sales are defined to include digital books, digital newsstand, and the rapidly growing apps business.
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01.06.2012
J. C. Penney Company, Inc. reported today that its comparable store sales for the five-week period ended Dec. 31, 2011, increased 0.3 percent. This compares to a 3.7 percent increase in the same period last year. Total Company sales in December decreased 2.3 percent.
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01.06.2012
Kohl's Corporation reported today that for the five-week month ended December 31, 2011 total sales increased 1.7 percent and comparable store sales decreased 0.1 percent from the five-week month ended January 1, 2011. Year to date, total sales increased 2.3 percent and comparable store sales increased 0.5 percent.
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01.06.2012
Gap Inc. today reported that December 2011 net sales decreased 1 percent compared with last year.
Net sales for the five-week period ended December 31, 2011 were $1.98 billion compared with net sales of $2.01 billion for the five-week period ended January 1, 2011. The company’s comparable sales for December 2011, which include the associated comparable online sales, were down 4 percent compared with a 2 percent decrease for December 2010.
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01.06.2012
Pacific Sunwear of California, Inc., announced today that its December same-store sales were flat, and that its combined November and December same-store sales were minus 1% through December 31, 2011. The Company also reconfirmed its fourth quarter same-store sales guidance range of minus 3% to plus 2%, and the fourth quarter earnings guidance it provided on December 7, 2011.
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01.05.2012
Target Corporation today reported that its net retail sales for the five weeks ended December 31, 2011 were $10,138 million, an increase of 2.6 percent from $9,882 million for the five weeks ended January 1, 2011. On this same basis, December comparable-store sales increased 1.6 percent.
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01.05.2012
Macy's, Inc. today reported total sales of $4.925 billion for the five weeks ended Dec. 31, 2011, an increase of 6.6 percent compared with total sales of $4.618 billion in the five weeks ended Jan. 1, 2011. On a same-store basis, Macy's, Inc. sales were up 6.2 percent in December. Same-store sales for the combined November/December holiday selling period were up 5.7 percent.
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01.05.2012
Limited Brands, Inc. reported a comparable store sales increase of 7 percent for the five weeks ended Dec. 31, 2011, compared to the five weeks ended Jan. 1, 2011. The company reported net sales of $1.868 billion for the five weeks ended Dec. 31, 2011, compared to net sales of $1.790 billion last year. Total sales for the month were negatively impacted by the sale of our third party apparel sourcing business in the beginning of November 2011.
The company reported a comparable store sales increase of 10 percent for the 48 weeks ended Dec. 31, 2011, compared to the 48 weeks ended Jan. 1, 2011. The company reported net sales of $9.590 billion for the 48 weeks ended Dec. 31, 2011, compared to sales of $8.841 billion last year.
The company now expects to report adjusted fourth quarter earnings per share of $1.42 to $1.46 versus its previous guidance of $1.28 to $1.43 per share and $1.26 last year.
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01.05.2012
“Feel Good about choosing paper…” makes the case that Utopia® coated papers from Appleton Coated not only contribute to exceptionally-printed communications that inspire readers to action, but also contribute to corporate sustainability goals that support environmental responsibility.
“Feel Good” shares compelling statistics about the power of paper, as well as its use and re-use:
• 6 out of 10 consumers have made online purchases after reading a brochure
• 3 out of 4 consumers have made online purchases after reading a catalog
• 8 out of 10 consumers like that they can save printed materials for future reference
• 63.5% of paper consumed in the U.S. was recovered for recycling in 2010
• Paper recovery for recycling has increased by 77% since 1990
“Paper leaves an impression. Through paper, the audience unwraps the message like a gift. It is interactive, tactile and tangible. Handled properly, it is replenishable and renewable,” says Ferkó Goldinger, Appleton Coated’s advertising and promotion manager. “Along with helping others look great and feel good about the eco-friendly dimensions of Utopia papers, we’re also continuing to be a ‘greener’ company.”
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01.05.2012
Oil traded near the highest in eight weeks in London as speculation that sanctions against Iran will curb crude supplies countered concern that Europe’s debt crisis will worsen and slow demand.
Brent swung between gains and losses after a two-day, 6.3 percent increase. French Foreign Minister Alain Juppe said yesterday he hopes Europe will decide to embargo Iranian oil as part of sanctions against the country’s nuclear program. An import ban could send Brent crude to $125 a barrel, according to Societe Generale SA. Concern the European crisis will spread increased after Greece said deeper income cuts are the only way for the country to keep the euro and avert economic collapse.
“The prospect of sanctions is having an effect already on the outright price,” said Alexander Poegl, an analyst at JBC Energy GmbH in Vienna. “The market has taken this into consideration. Europe made it clear in November that they’re quite advanced with the proposals.”
Brent oil for February settlement was down 13 cents, or 0.1 percent, at $113.57 on the London-based ICE Futures Europe exchange as of 10:31 a.m., after rising to $114.64 a barrel, the highest intraday level since Nov. 14.
On the New York Mercantile Exchange, crude for February delivery was at $102.65, 57 cents lower, in electronic trading. Yesterday the contract climbed to $103.22, the highest close since May 10.
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01.05.2012
The Bon-Ton Stores, Inc. today announced comparable store sales for the five weeks ended December 31, 2011 decreased 0.7%. Total sales decreased 1.1% to $505.2 million for the five weeks compared with $510.8 million for the prior year period.
Year-to-date comparable store sales through December 31, 2011 decreased 2.8%. Year-to-date total sales through December 31, 2011 decreased 3.2% to $2,710.3 million compared with $2,800.4 million for the prior year period.
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01.05.2012
Rockaway, NJ-based Advantage Business Media has acquired Vicon Publishing, a media company targeting the laboratory and forensic sciences markets, in a cash deal.
"It's a company that fits us with no waste, all the brands tie in nicely," says Advantage CEO Richard Reiff.
Vicon's brands—ALN Magazine, ALN World, Controlled Environments, Forensic Magazine and DFI News—pair up with Advantage's bioscience and lab equipment products. Also included in the deal is the annual TurnKey Conference, which serves the laboratory animal facility and medicine markets.
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01.05.2012
The overwhelming majority of the more than 120 magazine branded Web sites in min’s exclusive Digital Box Scores saw double digit gains in their audience through much of 2011. According to our year-over-year run down of traffic to our Box Scores members between October 2010 and October 2011, unique visitors at growth leaders NewsMax.com and Saveur.com were up over 200%. For brands like More.com and bonappetit.com, audience more than doubled in a year. And at most other sites, unique visitors grew in the mid double digits.
As we explore in greater detail in next week’s issue of min, most sites credited both content innovation as well as distribution strategies. One interesting twist came for Paste magazine, which stopped printing issues and went to a combination of PasteMagazine.com and paid access to the Web app mPlayer site. The free site has seen its online audience more than double since the change. The company tells minonline that the mPlayer subscription product not only helps improve profitability but also is driving interest to the free site.
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01.05.2012
Urban Outfitters, Inc., a leading lifestyle specialty retail company operating under the Anthropologie, Free People, BHLDN, Terrain and Urban Outfitters brands, today announced record net sales for the two months ended December 31, 2011.
Total Company net sales for the two months increased to $577 million or 11% over the same period last year. Comparable retail segment net sales, which include our direct-to-consumer channels, increased 4% while comparable store net sales were flat. Comparable retail segment net sales increased 3% at Urban Outfitters and Anthropologie and 9% at Free People. Direct-to-consumer comparable net sales jumped 17% for the period with all brands posting double digit growth. Wholesale segment net sales were down 1%.
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01.05.2012
MeadWestvaco Corporation today announced that it is expanding its capabilities in targeted packaging end-markets with the acquisition of Polytop Corporation, an innovative leader in the design and manufacturing of dispensing closures. The acquisition was completed on December 30. Terms of the acquisition were not disclosed.
“The acquisition of Polytop extends our participation in attractive packaging end-markets that we have targeted for profitable growth around the world,” said John A. Luke, Jr. MWV chairman and chief executive officer. “With Polytop, we are expanding the innovative capabilities that we can bring to the world’s leading brand owners to meet their global packaging needs.”
Polytop is a leading designer and manufacturer of dispensing closures serving leaders in the food, home and garden, and beauty and personal care packaging markets. In addition to offering a broad range of standard dispensing closures including its Spouted (Turret Cap), Tube and Polycam® (flip tops, hinged) lines, Polytop also produces custom-designed dispensing closures that utilize the company’s innovative, unique orifice and dosing technologies. By bringing Polytop’s unique capabilities and technologies to MWV’s growth strategy, the company will be able to accelerate Polytop’s strong North American presence while expanding into new geographies where MWV has market expertise.
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01.05.2012
Meredith Corporation announced today that it has signed an agreement with Disney Publishing Worldwide to acquire the assets of FamilyFun. The acquisition includes the highly popular magazine, with an audience of 6 million and rate base of 2.1 million; its special interest publications; and its ToyHopper and digital magazine applications. Financial terms were not disclosed, and it will not have a material effect on Meredith's 2012 financial performance. The acquisition is expected to close within 30 days.
"We are delighted to add the FamilyFun brand to our expanding media portfolio," says Meredith National Media Group President Tom Harty. "This acquisition further strengthens our leadership position and reach among women in both the parenthood and food spaces, and offers our advertisers additional channels to reach these consumers."
FamilyFun targets moms with kids ages 3-12 with a focus on family activities such as cooking, crafts, celebrations and travel. Launched in 1991, FamilyFun has a median age of 35, and 60 percent of its readers are college-educated. FamilyFun will report to Carey Witmer, President of the Meredith Parents Network. The first issue of FamilyFun published by Meredith is expected to be March 2012.
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01.04.2012
Oil fell from its highest settlement in almost eight months on signs that Europe’s debt crisis may drag the region into a recession, curbing fuel consumption.
West Texas Intermediate crude futures reversed gains as the euro dropped from near a one-week high against the dollar after European reports showed services and manufacturing output contracted and inflation slowed. German 10-year bonds stayed lower after the country sold additional securities. Oil rallied 4.2 percent yesterday as the head of Iran’s army warned the U.S. against sending an aircraft carrier back to the Persian Gulf.
Crude for February delivery was at $102.21 a barrel in electronic trading on the New York Mercantile Exchange, down 75 cents, at 11:37 a.m. London time. Yesterday, the contract rose $4.13 to $102.96 a barrel, the highest settlement since May 10.
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01.04.2012
Atlas Holdings announced the closing of its agreement with International Paper to combine their consumer-packaging solutions businesses. As a result, AGI World and Shorewood Packaging, two leading packaging companies, have become AGI-Shorewood, one of the largest and most innovative global specialty packaging businesses with operations in North America, Europe, Asia and Latin America.
All locations of Shorewood Packaging, except those in China, are now a part of the new AGI-Shorewood. Closing of the Chinese portion of the transaction will occur later this month upon the transfer of certain governmental licenses and registrations.
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01.04.2012
Casemate Publishers has acquired the U.K. –based Oxbow Books Ltd. in a deal that also includes Oxbow’s The David Brown Book Company headquartered in Oakville, Ct.
The acquisition will broaden Casemate’s list beyond military history as it adds Oxbow—a leading U.K. publisher and distributor in the fields of academic archaeology and ancient and medieval history—as well as David Brown, an importer and reseller of books in the academic disciplines of archaeology, ancient history, philosophy, theology and other related fields.
According to Casemate, going forward, each unit of the new group will retain its brand and position in the market, and there will be a “pooling” of resources in the production of books and in sales and marketing. Oxbow proprietary titles and those of Oxbow’s and David Brown Book Company’s distribution clients will also gain access to Casemate’s e-book program.
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01.04.2012
Consumer confidence remained fairly consistent in December, as consumers viewed the economy and their finances as improving, but consumers are heading into the New Year with conservative spending intentions according to the Discover U.S. Spending Monitor. The Monitor, a 4-year-old daily poll tracking economic confidence and spending intentions of nearly 8,200 consumers throughout the month, recorded a 1.3-point decline from the previous month to 85.0 percent.
More than 23 percent of consumers felt economic conditions were getting better in December, a rise of more than 4 points from November. Similarly, those who believe economic conditions were getting worse declined by nearly 2 points from November to 53 percent.
The percentage of consumers who rate the economy as poor dropped 3 points from last month to 58 percent. While only 9 percent of consumers rate the economy as good or excellent, a 1-point increase from November.
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01.04.2012
As the city of Sault Ste. Marie is getting ready to celebrate its 100 year anniversary, one of its oldest companies has been forced into receivership, local2news has been told.
St. Mary's Paper Company announced this morning that the company was forced into receivership putting the company's future in jeopardy and its employees who have been off the job at the paper mill since April.
The company and employees have had little dialogue since then. Company president, Dennis Bunnell issued a letter to employees in July stating the company needed to shut down to repair paper machine number 5, which was the only operational paper machine at the mill.
Two years ago, St. Mary's Paper planned construction of a co-generation plant , those plans are now uncertain.
Today's news comes as little surprise, the company has been struggling with the high Canadian dollar cutting into its market south of the border. Management at the time of the company's last restructuring said it needed the dollar to be in the 93 cent range to stay profitable.
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01.03.2012
Avery Dennison Corporation today announced that it has signed a definitive agreement to sell its Office and Consumer Products business (“OCP”) to 3M Company (NYSE:MMM) for $550 million in cash. The transaction is subject to customary closing conditions and regulatory approvals.
“The sale of our Office and Consumer Products business to 3M presents the best opportunity to maximize OCP’s value for Avery Dennison’s shareholders, and complements 3M’s global portfolio,” said Dean A. Scarborough, Avery Dennison chairman, president and chief executive officer. “Our industry-leading Pressure-sensitive Materials and Retail Branding and Information Solutions businesses, combined with our strong balance sheet, make us well positioned for profitable growth and increased return of cash to shareholders.”
Avery Dennison intends to use the proceeds from the transaction primarily to reduce debt, make additional pension contributions, and repurchase shares. This transaction will not negatively impact the Company’s common stock dividend.
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01.03.2012
Oil climbed in New York after manufacturing activity in China and India expanded, while concern persisted that further sanctions against Iran may disrupt supply.
Futures gained as much as 2.7 percent on the first trading day of 2012. India’s Purchasing Managers’ Index rose the most in six months in December, HSBC Holdings Plc and Markit Economics said yesterday, and a manufacturing index in China signaled expansion. Iran’s Deputy Navy Commander Rear Admiral Mahmoud Mousavi told Press TV that any effort to harm the nation’s interests will lead to “reciprocal measures.”
“Iran will probably be centre-stage this year, at least in the first half,” Amrita Sen, an analyst Barclays Plc in London, said in an interview on Bloomberg Television’s “The Pulse” with Maryam Nemazee. “The risks surrounding Iran are clearly rising. Demand could surprise to the upside, and I’d especially highlight China.”
Crude for February delivery advanced as much as $2.66 to $101.49 a barrel in electronic trading on the New York Mercantile Exchange and was at $101.39 at 11:24 a.m. London time.
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01.03.2012
The embattled U.S. Postal Service (USPS) faces a host of new challenges, several of which threaten to directly impact marketers. However, many who rely on direct mail say that in spite of the tumult, they'll wait and see how things pan out before altering marketing strategy.
Prices on shipping services are expected to increase 4.6% — an average of 3.1% for Priority Mail, 3.3% for Express Mail and 3.7% for First-Class Package Service — starting Jan. 22, pending approval by the Postal Regulatory Commission. David Partenheimer, a spokesperson for the USPS, said that the service will still be a competitive choice for business shippers.
At the same time it's raising rates, the U.S. Postal Service is considering cutting services, although the agency agreed Dec. 13 to a five-month moratorium on post office and facility closures that will end May 15, 2012. USPS Postmaster General Patrick Donohoe told the National Press Club in December that the agency needs to achieve $20 billion in savings by 2015, which may require closing as many as 3,500 low-performing post offices and ending Saturday delivery.
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01.03.2012
Media services companies ZenithOptimedia and GroupM softened their independent global ad spending predictions for 2012 in forecasts released in early December. MagnaGlobal, a unit of advertising giant Interpublic, also cut its global advertising forecasts for 2011 and 2012, citing a “worsening economic outlook.” But with positive effect of quadrennial events, such as the Summer Olympics, European soccer championship and U.S. presidential elections, will there still be some winning channels?
click on the link below for forecasts from: Andrew Edgecliffe-Johnson, The Financial Times; Mary Ellen Biery, Forbes; Stuart Elliott and Amy Chozick, The New York Times; Kate Holton and Paul Thomasch, Reuters UK.
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01.03.2012
The hot sectors of marketing services and tech helped drive mergers and acquisitions in the media sector up 9% in 2011 compared to 2010, representing a deal value of $47 billion, reports investment bank Jordan Edmiston Group Inc. (JEGI). There were 896 recorded transactions in the year, compared to 881 the previous year. Digital media and services were the key drivers of that growth, representing 71% of M&A activity. Nevertheless, consumer magazines saw 23% more deals last year, representing a 15% rise in deal value. Also strong among traditional media was the conference and expo area, which was up 39% in activity and 249% in deal value.
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