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11.21.2012
Seventy-five percent of marketers said they are bullish about growth prospects for digital and direct marketing, according to the Direct Marketing Association's Quarterly Business Review for the third quarter. The review is conducted is partnership with the Winterberry Group, a management consultancy.
The figure is up slightly from the second-quarter survey, in which 72% of respondents said they were bullish about growth prospects.
When asked to rate their confidence in the growth of digital and direct marketing on a scale of 1 to 5 (with 1 representing low confidence and 5 representing high confidence), respondents gave an average score of 3.91, up slightly from 3.85 in the second quarter.
The latest report was based on an online survey in October of 322 marketers who are members of the DMA.
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11.21.2012
Ahlstrom, a global high performance fiber-based materials company, has developed a PFOA-free* version of its Ahlstrom Coralpack range, a flexible packaging paper for direct wrapping and packing of numerous grease-containing food products, such as biscuits, pastries, coffee beans, fast food, take-away food, pizzas, popcorn for micro wave, butter & margarine, soup cubes and many more.
To produce grease resistant packaging papers, fluorochemicals are added in the paper production process. However, deriving from the production process of these fluorochemicals, trace amounts of PFOA can be found as an unintended impurity. In January 2006, the US Environmental Protection Agency (EPA) invited manufacturers of fluorochemicals to commit to reduce by 95% PFOA from their emissions and products content not later than by 2010 and to eliminate it totally by 2015.
To offer its customers a grease resistant paper free of this unintended impurity, Ahlstrom Group Product & Technology Development services have designed a new generation of grease resistant papers.
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11.21.2012
Resolute Forest Products today announced the indefinite idling of the kraft mill and paper machine number 5 (PM5) at its pulp and paper operation in Fort Frances, Ontario. The kraft mill has an annual production capacity of approximately 200,000 metric tons of market pulp, while PM5 has an annual capacity of 105,000 metric tons of groundwood specialty printing papers.
"The markets for these products are challenging and are expected to remain so. The kraft mill situation is particularly difficult given Fort Frances' operating configuration and the recent decision by a key customer to stop consuming the pulp supplied by Resolute to its mill," said Resolute's President and Chief Executive Officer, Richard Garneau. "Our kraft mill's drying capacity is limited to about 40 percent of its production capacity, making it impossible to continue operating the mill in a profitable manner."
Resolute is exploring alternative product possibilities for its Fort Frances pulp mill, which will be idled in a manner that will protect the equipment.
The idling of PM5 is driven by the decrease in consumption as well as the high value of the Canadian dollar.
"We will monitor market conditions closely and work with key stakeholders to explore ways to improve the mill's cost position," added Garneau.
The running down of fiber inventories and orderly shutdown of the Fort Frances kraft mill is expected to be completed by late November. PM5 will also continue to operate until late November. Approximately 239 employees will be impacted by the idling.
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11.20.2012
Chico's FAS, Inc. today announced its financial results for the fiscal 2012 third quarter and thirty-nine weeks ended October 27, 2012.
For the third quarter, the Company reported net income of $41.7 million, an increase of 57.4% compared to net income of $26.5 million in last year's third quarter, and earnings per diluted share of $0.25, an increase of 56.3% compared to $0.16 per diluted share in last year's third quarter. Excluding non-recurring acquisition and integration costs related to the Boston Proper acquisition, the Company's third quarter earnings per diluted share were $0.25, an increase of 38.9% compared to $0.18 per diluted share in last year's third quarter. These results represent the highest third-quarter earnings per share since 2005.
For the thirty-nine weeks ended October 27, 2012, the Company reported net income of $148.7 million, an increase of 28.4% compared to net income of $115.8 million in the same period last year, and record earnings per diluted share of $0.89, an increase of 34.8% compared to $0.66 per diluted share in the same period last year. Excluding non-recurring acquisition and integration costs related to the Boston Proper acquisition, the Company's earnings per diluted share for the thirty-nine weeks ended October 27, 2012 were a record $0.89, an increase of 30.9% compared to $0.68 per diluted share for the same period last year.
For the third quarter, net sales were $636.7 million, an increase of 18.2% compared to $538.5 million in last year's third quarter, reflecting comparable sales growth of 9.9%, square footage increase of 8.2%, and Boston Proper sales for seven incremental weeks of $16.7 million. The 9.9% increase in comparable sales for the third quarter was on top of a 3.7% increase in last year's third quarter, for a two-year stack of 13.6%, and reflected increases in both average dollar sale and transaction count. The comparable sales growth primarily reflected a positive customer response to the fall fashion assortments and the effectiveness of the Company's innovative marketing plans.
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11.20.2012
dELiA*s, Inc., a multi-channel retail company comprised of two lifestyle brands primarily targeting teenage girls and young women, today announced the results for its third quarter of fiscal 2012.
Third Quarter Fiscal 2012 Highlights:
Total revenue decreased 4.0% to $55.7 million from $58.1 million in the third quarter of fiscal 2011. Revenue from the retail segment decreased 2.8% to $35.2 million, due to a reduction in store count, partially offset by a comparable store sales increase of 2.4%. Revenue from the direct segment decreased 6.1% to $20.6 million on a catalog circulation decrease of 14.4%.
Consolidated gross margin increased to 33.9% compared to 32.3% in the prior year quarter.
Net loss was $2.0 million, or $0.06 per diluted share. Net loss for the third quarter of fiscal 2011 was $4.4 million, or $0.14 per diluted share.
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11.20.2012
TC Media is proud to announce that it received the Mobiz Business – Society Award for its P$ Mobile Service solution, developed in close collaboration with Stationnement de Montréal, at the 2012 Mobiz Awards held last Thursday night in Montreal. Presented during the MTL DGTL festival, the Mobiz Awards recognize the ingenuity and excellence of individuals or companies that stand out in the field of mobile solutions.
TC Media developed the P$ Mobile Service remote payment solution for Stationnement de Montréal, which was launched in June 2012. Motorists can now pay for their parking spots using the P$ Mobile Service app, available free for iPhone, BlackBerry(R) and Android™ devices, or online and through its mobile version, at pservicemobile.ca. The solution has been a smash hit from the moment it was introduced: already more than 76,000 people have downloaded the app, across all platforms, and the solution registers an average of 28,000 transactions a week, a number which is growing rapidly, for a total of more than 300,000 transactions since it was introduced.
"We are very happy to have won this prize, which is a credit to the talent and expertise of our mobile solutions team," said Bruno Leclaire, Senior VP, Digital Solutions at TC Media. "We are especially proud of P$ Mobile Service, a custom-designed mobile payment ecosystem originating entirely in Montreal, and designed and developed in-house at TC Media. Successful solutions like this are helping TC Media carve out a leading position in Canada's mobile industry."
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11.20.2012
Quad/Graphics, Inc. and Vertis Holdings, Inc. jointly announced today that the waiting period for antitrust review in relation to their proposed business combination expired at midnight on Friday, November 16, with no action taken by the Federal Trade Commission. The companies can now move forward with their proposed sale agreement, pending the receipt of Court approval and the completion of necessary integration plans.
Quad/Graphics and Vertis on October 10, 2012, announced the execution of an agreement through which Quad/Graphics will acquire substantially all of the assets comprising Vertis’ businesses. Vertis simultaneously filed voluntary petitions for Chapter 11 relief to complete the sale as efficiently as possible while maintaining continuity for its clients and employees. As part of the sale through the Chapter 11 case, Vertis and its advisors will evaluate any competing bids that may be submitted in order to ensure it receives the highest and best offer. Under procedures approved by the Bankruptcy Court, any competing bidders must submit their offers in accordance with the approved procedures by November 23, 2012, in order to be considered. Vertis has the support of its lenders with respect to the sale to Quad/Graphics.
Both companies currently anticipate the sale will be approved by the Bankruptcy Court on December 6, 2012, and will close in the first quarter of 2013. Vertis and Quad/Graphics will continue to operate separately and independently until Bankruptcy Court approval is received and the sale closes.
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11.20.2012
In a striking piece of research from Mindshare UK on behalf of the Professional Publishers Association, magazines were discovered to deliver higher ROI to advertisers than any other medium. The UK Business Planning Unit of Mindshare studied 77 campaigns with an ad spend of over £6 million. The results showed that ad pages were especially effective in creating high “bonding scores” for products, which are considered the strongest influence on purchase behavior.
The ROI on this metric beat out Web, TV and newspapers handily, the research finds, although results varied according to campaign. In fact, the budget for ad pages would have had to double before the ROI dropped to the same as TV. Generally the diminishing return scale and media reallocation analysis showed that sales on the advertised products increased as did the magazine spend.
According to reporting in Mediaweek UK, “Mindshare also discovered that the gains made by reallocating budget to magazines were far greater than the losses from the host medium.”
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11.20.2012
Following the success of its innovative Digital Paper Program and the introduction of high-performance inkjet web papers, it is with great excitement that Finch Paper announces a solution for businesses seeking better, more consistent printed color.
FIT Color Management and Workflow Services, denoting Fluid + Ink + Toner, leverages the company’s technical knowledge surrounding color-managed workflows and ICC color profiles across printing platforms. “Fluid” refers to inkjet presses using aqueous inks, “Ink” refers to traditional offset presses, and “Toner” refers to digital production printing presses. The ultimate challenge is to have consistent, predictable color results across all three platforms.
Through on-site consultations, the technical experts at Finch look at the entire process — from design to finishing — adjusting color settings and workflow to hit the color mark from run to run and machine to machine while lowering the total cost of print.
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11.20.2012
Cascades is the proud recipient of a 2012 Green Supply Chain Award for its sustainable approach to its supply chain. It will be listed along with other award winners in the December issue of the American magazine Supply & Demand Chain Executive, specialists in the supply chain sector for over 10 years.
The Green Supply Chain Award recognizes companies who make sustainability a core part of their supply chain strategy, and work to achieve measurable sustainability goals within their own operations and supply chains. It also recognizes providers of supply chain solutions and services who assist their customers in achieving measurable sustainability goals.
Cascades was recognized for its closed-loop business process with its Cascades Recovery Division, for its collaboration with sustainable supply chain management company EcoVadis, and for its annual presentation of the Sustainable Supplier Award honoring its distribution partners' role in advancing sustainability.
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11.20.2012
Oil slid from the highest level in a month in New York on signs that yesterday’s gains were excessive, given speculation stockpiles rose for a third week in the U.S., the world’s largest consumer of crude.
West Texas Intermediate dropped as much as 0.8 percent after climbing 2.7 percent. Crude inventories in the U.S. probably increased by 1 million barrels last week, a Bloomberg News survey showed before an Energy Department report tomorrow. Prices surged yesterday as Israeli ground forces prepared to enter the Gaza Strip for the first time in almost four years.
“The market remains well-supplied,” Carsten Fritsch, an analyst at Commerzbank AG in Frankfurt who forecasts WTI futures will rise above $90 a barrel before the end of the year, said by phone. “The bias is upwards due to supply risks and geopolitical tensions. The risk of an Israeli invasion into the Gaza strip is still there.”
Crude for January delivery fell as much as 75 cents to $88.53 a barrel in electronic trading on the New York Mercantile Exchange. It was at $89.07 at 11:46 a.m. London time.
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11.20.2012
RDA Holding Co., parent company of The Reader’s Digest Association, Inc., the global multi-brand and multi-platform media and direct marketing company, announced today its financial results for the third quarter ended September 30, 2012.
Revenue decreased $82.3 million to $230.1 million, a decline of 26.3% from the 2011 quarter. The revenue declines were primarily due to a lower active customer base on our books and home entertainment products and a reduction in promotional investment across many of our markets in Europe and Asia. Our revenue declines were also due to lower sales on some of our book product lines in North America, the sale of the Every Day with Rachael Ray publication in October 2011 and declining subscription renewals on certain of our magazine titles.
Third quarter operating loss was $100.1 million, which reflects an impairment charge of $85.0 million. Excluding impairment charges in both comparable periods, operating loss decreased $25.9 million to $15.1 million, a decrease of 63.2% from the 2011 quarter. The decrease in operating loss was primarily the result of the sale of the Every Day with Rachael Ray publication, as well as a reduction in promotional investments and overhead cost savings related to our 2011 restructuring initiatives.
EBITDA for the quarter was negative $8.9 million, compared to negative $6.0 million in the 2011 quarter, which has been adjusted to exclude discontinued operations, as well as the Every Day with Rachael Ray publication.
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11.20.2012
Urban Outfitters, Inc., a leading lifestyle specialty retail company operating under the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands, today announced net income of $60 million and $155 million for the three and nine months ended October 31, 2012, respectively. Earnings per diluted share were $0.40 and $1.06 for the three and nine months ended October 31, 2012, respectively.
Total Company net sales rose by 14% over the same quarter last year to $693 million. Comparable retail segment net sales, which include our comparable direct-to-consumer channel, increased by 8% for the quarter, while comparable store net sales decreased by 1%. Comparable retail segment net sales at Free People, Urban Outfitters and Anthropologie increased by 24%, 7% and 6%, respectively, for the quarter. Direct-to-consumer net sales increased by 36% and wholesale segment net sales rose by 7% for the quarter.
"Favorable customer response to our product offerings and better marketing resulted in record third quarter sales and significant margin improvement," said Chief Executive Officer, Richard A. Hayne. "We see this trend continuing into the fourth quarter which bodes well for our Holiday season," finished Mr. Hayne.
For the three months ended October 31, 2012, the gross profit rate improved by 222 basis points versus the prior year's comparable period. The increase in gross profit rate was primarily due to a reduction in merchandise markdowns. For the nine months ended October 31, 2012, the gross profit rate improved by 29 basis points versus the prior year's comparable period. The increase in the rate was primarily due to a reduction in merchandise markdowns partially offset by the deleverage of store occupancy costs related to the negative comparable store net sales.
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11.20.2012
Best Buy Co., Inc. today announced a GAAP net loss from continuing operations of $13 million, or $0.04 per share, for the three months ended November 3, 2012 compared to net earnings from continuing operations of $173 million, or $0.47 per diluted share for the prior-year period. Excluding previously announced restructuring charges, adjusted (non-GAAP) net earnings from continuing operations for the third quarter of fiscal 2013 were $10 million, or $0.03 per diluted share compared to $173 million and $0.47 for the prior-year period. Comparable store sales were down during the quarter and adjusted (non-GAAP) operating income declined significantly.
Excluding restructuring charges primarily related to previously announced store closures, the Domestic segment operating income for the three months ended November 3, 2012 declined to $50 million ($16 million on a GAAP basis) from $249 million in the prior-year period. The decline was due to a lower gross profit rate, higher SG&A expense and lower revenue.
The Domestic segment revenue was $7.7 billion and declined 4.7 percent compared to the prior year period. The Domestic segment revenue decline reflected a 4.0 percent comparable store sales decline and the impact of store closures.
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11.19.2012
Hastings Entertainment, Inc., a leading multimedia entertainment retailer, today reported results for the three and nine months ended October 31, 2012. Net loss was approximately $8.0 million, or $0.98 per diluted share, for the three months ended October 31, 2012 compared to a net loss of approximately $5.5 million, or $0.65 per diluted share, for the three months ended October 31, 2011. Net loss was approximately $10.5 million, or $1.28 per diluted share, for the nine months ended October 31, 2012 compared to net loss of $9.2 million, or $1.07 per diluted share, for the nine months ended October 31, 2011.
Fiscal year 2011 net loss numbers included tax benefits of $3.9 million for the three months ended October 31, 2011 and $4.7 million for the nine months ended October 31, 2011. There were no tax benefits for the current quarter and current year to date due to the valuation allowance that was established in the fourth quarter of fiscal 2011. For further details on the valuation allowance, see the comment on income tax expense in the section covering financial results for the nine months ended October 31, 2012. Pre-tax loss decreased approximately $1.4 million to $8.0 million for the three months ended October 31, 2012, compared to a pre-tax loss of $9.4 million for the three months ended October 31, 2011. Pre-tax loss decreased approximately $3.5 million to $10.4 million for the nine months ended October 31, 2012, compared to a pre-tax loss of $13.9 million for the nine months ended October 31, 2011.
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11.19.2012
UPS today released new published rates for 2013, including an average net increase of 4.5 percent on all UPS Air and U.S. origin international services and 4.9 percent on UPS Ground services.
The rate increase for UPS Air and International Services is based on a 6.5 percent average increase in the base rate, less a two percentage point reduction to the Air and International fuel surcharge table. The rate increase for UPS Ground services is based on a 5.9 percent average increase in the base rate, less a one percentage point reduction to the Ground fuel surcharge table.
Additionally, UPS Next Day Air Freight, UPS 2nd Day Air Freight and UPS 3 Day Freight rates for shipments within and between the U.S., Canada and Puerto Rico will increase 4.9 percent.
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11.19.2012
Today the Postal Regulatory Commission approved the U.S. Postal Service’s request to raise prices for market dominant products finding that the new prices are at or below the Consumer Price Index (CPI) cap of 2.570 percent and meet all other statutory requirements.
There is one exception. In reviewing the price proposals for compliance with Commission directives and orders, the Commission found that the Postal Service’s proposed Standard Mail Flats prices fail to satisfy the applicable directives given to the Postal Service in the FY 2010 Annual Compliance Determination. The Commission has remanded the Standard Mail rates to the Postal Service for compliance with its longstanding Order.
The Commission has granted the Service 10 days to decide on its own how to modify its Standard Mail prices. The Commission will also allow an opportunity for the public to provide comments on the revisions the Postal Service proposes.
Price increases will affect rates for all market dominant products: First-Class Mail, Periodicals, Package Services, and Special Services. Single-piece First-Class Mail will increase from 45 cents to 46 cents. The price of a postcard will increase from 32 cents to 33 cents. The new International Forever Stamp will cost $1.10. The Commission also approved several mail classification changes that primarily affect Special Services.
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11.19.2012
The city council of Portland, Ore., voted to expand the city's one-year old plastic bag ban, voting 5-0 to phase out plastic checkout bags at an estimated 5,000 restaurants and retailers.
The ban will impact retailers larger than 10,000 -sq.-ft. on March 1, 2013, and the remaining retailers on October 1, 2013. Portland's 2011 rule affected fewer than 200 businesses.
Retailers will still be able to provide plastic bags for bulk items, produce, meats, dry cleaning and prescription drugs.
Mark Daniels, chair of the American Progressive Bag Alliance, an organization representing the United States' plastic bag manufacturing and recycling sector, which employs 30,800 workers in 349 communities across the nation, issued the following statement in response to the vote:
"Portland residents will be forced to purchase even more reusable bags which cannot be recycled, are predominately imported from China, and have been proven to harbor dangerous bacteria. Those interested in real solutions to reducing litter and protecting the environment should pursue scientifically sound, common sense policies – ones that encourage a comprehensive statewide recycling solution that address all forms of plastic bags, sacks and wraps – instead of targeting one product that makes up a fraction of a percent of the waste stream."
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11.19.2012
U.S. e-commerce sales reached $56.99 billion in the third quarter, up 17.3% from $48.59 billion for the same period a year ago, according to figures released today by the U.S. Department of Commerce. Third quarter 2011 e-commerce sales increased 3.7% from $54.94 billion in the second quarter, according to the department’s seasonally adjusted estimates.
The 17.3% growth posted for the third quarter follows three quarters when e-retail sales growth hovered just above 15%. The last time e-commerce sales growth was greater than 17% was in the first quarter of 2011, when growth clocked in at 17.2%.
E-commerce accounted for approximately 5.2% of total retail sales excluding foodservice—mainly restaurant and bar sales—during the three months ended Sept. 30, up from 4.7% in the third quarter of 2011 and 5.1% from the second quarter of 2012, the Commerce Department says.Total retail sales excluding foodservice during the third quarter totaled $1.09 trillion.
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11.19.2012
Facebook is planning to help direct marketers do what they love to do most: track who is responding to specific ads and in exactly what fashion.
Currently in beta, Facebook's new measurement tool is headed for a December launch as part of Facebook's Optimized CPM bidding system. Marketers will be able to set up the system themselves from the network's Ad Manager page by adding snippet of code to any page on their websites. When a product page or checkout page, for instance, is loaded by a customer who has clicked on a Facebook ad, the conversion gets counted in Ad Manager in any number of configurations predetermined by the advertiser.
“This is not click-through-based, it's action-based, and the advertiser determines what the action is—add to cart, registration page, checkout page,” says Facebook product manager David Baser. “You can track individual ads and monitor which users saw the ad and who converted, and use that data to tailor campaigns to specific segments.”
Baser says the new service is a response of direct marketers' desire to measure customer acquisition rates versus simple click-throughs. Fab.com, an online retailer of high-design merchandise, reported a 39% reduction in cost per acquisition in a beta test of the service. Baser claimed that the figure was near the average for all test participants.
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11.19.2012
Oil advanced to the highest level in more than a week in New York amid concern that Middle East unrest will disrupt supply and speculation the U.S. will avert automatic spending cuts and tax rises that threaten to throw the nation into recession.
West Texas Intermediate futures climbed to more than $88 a barrel, extending two weeks of gains. Israel will continue to attack Gaza and may intensify operations, Defense Minister Ehud Barak said. U.S. President Barack Obama is “confident” of a deal on the so-called fiscal cliff, he said after Nov. 16 talks with congressional leaders.
“Geopolitical tensions in the Middle East are not good news for the energy markets,” Fatih Birol, chief economist at the International Energy Agency, said in an interview in Oslo. “Any geopolitical event may well increase the upward pressure on prices.”
Crude for January delivery rose as much as $1.13, or 1.3 percent, to $88.05 a barrel in electronic trading on the New York Mercantile Exchange, the highest since Nov. 7. Futures were at $87.95 at 11:52 a.m. London time. Front-month prices are down 11 percent this year.
Brent for January settlement gained as much as $1, or 0.9 percent, to $109.95 a barrel on the ICE Futures Europe exchange in London.
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11.19.2012
Ahlstrom, a global leader in high performance fiber-based materials, publishes today pro forma financial information for 2011 and January-September 2012 to illustrate the financial impact of the planned combination of Ahlstrom's Label and Processing business and Munksjö AB (the "Transaction") on Ahlstrom's continuing operations. Ahlstrom is also seeking to find ways to improve its cost structure and adjust its operations to reflect the future size, scope and cost structure of the company following the planned transaction with Munksjö.
During the past years, Ahlstrom has systematically executed its strategy in order to focus its operations in areas that offer the most attractive growth opportunities. The company has chosen to focus on advanced technologies and products that protect people, purify air and liquids, and provide surface and structure to its customers' products. In addition to reinforcing Ahlstrom's leadership in filtration, the company aims to grow in high performance fiber-based materials for building, food and beverages packaging and medical applications.
The combination of the Label and Processing business area with Munksjö AB through two partial demergers is the latest and most significant step in the process of refocusing Ahlstrom. The Transaction enables the company to focus exclusively on its value-added business areas: Building and Energy, Filtration and Food and Medical. The terms and conditions of the proposed transaction were published in a separate stock exchange release on August 28, 2012.
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11.19.2012
The American Forest & Paper Association released its October 2012 Kraft Paper Sector Statistics Report today.
Total Kraft paper shipments were 128.3 thousand tons, a decrease of 5 percent compared to the prior month. Total inventory was 72.9 thousand tons this month. Both unbleached and bleached Kraft shipments decreased year over year.
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11.19.2012
The American Forest & Paper Association released its October 2012 U.S. Paperboard Statistics Report today.
Total boxboard production increased by 2.6 percent compared to October 2011 and increased 0.5 percent from last month. Unbleached Kraft Boxboard production decreased over the same month last year and decreased compared to last month. Total Solid Bleached Boxboard & Liner production increased compared to October 2011 and increased compared to last month. The production of Recycled Boxboard increased compared to October 2011 and increased when compared to last month.
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11.19.2012
The American Forest & Paper Association released its October 2012 U. S. Containerboard Statistics Report today.
Containerboard production rose 2.6 percent over September 2012 and 0.5 percent compared to the same month last year. The month-over-month average daily production decreased 0.7 percent. The containerboard operating rate for October 2012 gained 0.1 points over September 2012, increasing from 96 percent to 96.1 percent.
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11.19.2012
Adobe Systems Incorporated today released its Adobe® Digital Index 2012 Online Shopping Forecast focused on the 2012 holiday shopping season in the U.S. and Europe. The Digital Index analyzed more than 150 billion website visits to more than 500 Adobe retail customers over the past six years in order to forecast sales growth figures and online shopping spikes for the upcoming season. Using predictive analytics technology, the Adobe Marketing Cloud can sift through massive amounts of historical data from the Web’s top retailers to identify patterns and algorithmically predict future results.
Adobe expects Cyber Monday 2012 online revenue for the retail sector to reach $2 billion, growing by 18 percent year-over-year. The company’s data analysis also predicts strong purchasing activity from mobile devices, with mobile representing 21 percent of total online sales this holiday, an increase of 110 percent over last year. Adobe’s online shopping predictions and actual results will also be available on an ongoing basis via a new interactive website that will continuously monitor and update online purchasing data as-it-happens throughout the season. The Adobe Digital Index 2012 Online Shopping Forecast infographic and interactive website can be accessed at http://adobe.com/go/onlineshopping.
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11.19.2012
Resolute Forest Products has certified an additional 3.5 million hectares (8.6 million acres) of Company-managed forestlands in Quebec to Forest Stewardship Council® (FSC) standards. These new certifications raise the total area of Resolute tenures that are FSC-certified in North America to 15.8 million hectares (39 million acres), an area larger than Greece and twice the size of Ireland.
The newly-certified areas include 2.2 million hectares (5.4 million acres) in the Baie-Comeau region of Côte-Nord and 1.3 million hectares (3.2 million acres) in the Senneterre region of Abitibi, the latter representing a joint certification with Tembec. The combined area is equivalent in size to Belgium.
Resolute has committed to increasing FSC certification of its forest tenures from 18% in 2010 to 80% in 2015. As of today, the Company has certified approximately 65% of its forests to FSC standards. 100% of the forests managed by Resolute are already certified to at least one of three internationally-recognized responsible forest management standards - FSC, Canadian Standards Association (CSA Z809) and Sustainable Forestry Initiative® (SFI).
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11.19.2012
Atlantic Packaging Products has announces plans to open the first high-performance lightweight recycled paper mill in North America. The company plans to re-open their Whitby, Ont., mill in March of 2013. The former newsprint mill has been upgraded with technology that will allow Atlantic Packaging to produce 100% recycled lightweight paper used to manufacture high-performance corrugated packaging products.
According to Atlantic Packaging, recycled lightweight paper has available in Europe for many years. The paper is made using less fibre and is enhanced for strength. The result is a much lighter, stronger and more sustainable product.
Dave Boles, president of Atlantic Packaging, says, “In North America, the term lightweight has been primarily used in reference to the basis weight of the paper, with little or no emphasis on strength. What we're talking about is a disruptive technology that is capable of producing low basis weights (lighter paper) with sustainability and strength characteristics unlike anything in corrugated packaging today."
Boles continues, “Sustainability objectives from large retailers are driving the industry forward, and soon Atlantic will be in a position to provide our customers with the most sustainable corrugated packaging option available in North America."
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11.16.2012
AAA’s Fuel Gage Report as of 11/16/12
National Unleaded Regular:
Current Average - $3.430/gallon
Month Ago Average - $3.756/gallon
Year Ago Average - $3.402/gallon
Highest Recorded Average - $4.114/gallon on 7/17/08
Diesel:
Current Average - $3.994/gallon
Month Ago Average - $4.138/gallon
Year Ago Average - $3.983/gallon
Highest Recorded Average - $4.845/gallon on 7/17/08
Current Exchange Rates as of 11/16/12
American Dollar to Canadian Dollar = 0.998773
American Dollar to Chinese Yuan = 0.160269
American Dollar to Euro = 1.274321
American Dollar to Japanese Yen = 0.012328
American Dollar to Mexican Peso = 0.075567
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11.16.2012
Consolidated sales for the three-month period ended September 29, 2012, were $443 million, as compared to $421 million in the comparable period of the prior year. The Company generated a net loss of $47 million or $0.47 per share in the September 2012 quarter compared to a net loss of $17 million or $0.17 per share in the September 2011 quarter. The most recent quarter results include a non-cash asset impairment charge of $50 million relating to the recently idled Chetwynd, British Columbia, pulp mill. Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was $23 million for the three-month period ended September 29, 2012, as compared to adjusted EBITDA of $19 million a year ago and adjusted EBITDA of $27 million in the prior quarter.
For the fiscal year ended September 29, 2012, consolidated sales were $1.7 billion, unchanged from the prior year. The Company generated a net loss of $82 million or $0.82 per share compared to a net loss of $5 million or $0.05 per share in fiscal 2011. Adjusted EBITDA was $64 million compared to $98 million in the prior year.
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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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