-
04.11.2012
A. Schulman has announced earnings for the fiscal 2012 second quarter ended February 29.
The company reported net income for the second quarter of $9.1 million, or $0.31 per diluted share, compared with net income of $7.1 million, or $0.23 per diluted share, for the comparable period last year. The translation effect of foreign currencies negatively impacted net income for the quarter by $0.5 million.
The fiscal 2012 second quarter included certain after-tax charges of $2.1 million, primarily related to restructuring expenses and acquisition-related costs. Last year's second quarter included certain after-tax charges of $5.0 million, primarily related to restructuring expenses, asset impairments, and acquisition-related costs. Excluding these charges, net income for the fiscal 2012 second quarter was $11.2 million, or $0.38 per diluted share, compared with net income of $12.1 million, or $0.39 per diluted share, for the prior-year period.
Net sales for the fiscal 2012 second quarter were $495.9 million compared with $508.3 million for the same period last year. The decrease of $12.4 million in net sales was primarily a result of the $11.7 million negative impact of foreign currency translation. Volume was 458.7 million pounds in the second quarter of fiscal 2012, down 7.8 percent from 497.3 million pounds reported last year. The decrease in volume was partially offset by a 5.8 percent increase in the average selling price per pound.
click here
-
04.11.2012
UPM clarifies the strategy of its Timber and Living business areas and plans to restructure the production operations in Finland. The plan includes a possible closing of the production of Kajaani sawmill and Heinola and Aureskoski further processing plants by the end of 2012. UPM will begin co-determination negotiations with the employees in Kajaani, Aureskoski and Heinola, and later during April-May with the employees in the Finnish staff functions. Altogether 275 employees are included in the negotiations. Sale is an alternative option for closure of the production units.
”The profitability of the sawmills and further processing units located furthest from our integrated mills has been weak for a long time and has not turned permanently profitable despite the earlier restructuring measures. High log price and over capacity in the end-product markets have weakened the situation,” says the President of UPM’s Energy and Pulp Business Group Heikki Vappula.
”Our plan is to continue sawmilling and further processing in Finland in four locations, Pietarsaari (Alholma), Pori (Seikku), Juupajoki (Korkeakoski) and Lappeenranta (Kaukas), which are close to our pulp and paper mills using big volumes of wood. Saw mills and further processing plants operating close to pulp and paper mills have a central role in UPM’s wood sourcing supply chain as their by-products are used in the production of pulp, paper and energy.”
click here
-
04.11.2012
The new value-driven consumer and changing retailer strategies pose challenges for many retail product categories, including magazines.
The upside: They also open new opportunities for magazines to partner with retailers to achieve specific chain objectives, as well as boost magazine sales.
That was the core message from two speakers in a print-focused session during this year’s Publishing Business Conference & Expo: Jay Annis, VP trade sales, books and magazines for Taunton Press and president of the Periodical and Book Association of America (PBAA), and Jerry Lynch, president of the International Periodical Distributors Association (IPDA).
Annis and Lynch summarized factors that have contributed to declining magazine retail sales since the recession hit. These include consumer cutbacks on impulse-driven products of all kinds, and grocery retailers’ greater focus on necessities/perishable items, which has resulted in reduced space or less favorable locations for magazine mainlines (and other general merchandise products) in many supermarkets and supercenters.
Those two retail channels, they pointed out, continue to account for nearly 50% of all magazines sold (about 34% and 14%, respectively).
click here
-
04.11.2012
Sappi Fine Paper North America announces a price increase on new and unconfirmed orders that book with confirmed delivery dates on or after Friday, June 1, 2012 on the following products:
A $1.50 per CWT US$/CAD$ increase on: Somerset Web; Flo Web; Galerie Fine Web; Galerie Brite Web.
A $3.00 per CWT US$/CAD$ increase on: Galerie Lite Web – all finishes, all basis weights
Standard differentials and upcharges apply. This price increase includes any private label programs.
click here
-
04.11.2012
Precision Press, part of Taylor Corp. and an innovative U.S. packaging and label producer for the food, beverage and consumer markets, will be the first in the world to install the new Goss Sunday Vpak web offset printing system.
The new press will be configured for flexible packaging applications, with Sunday Vpak 500 web offset printing units as well as a Goss in-line flexo and coating unit. The press will also be equipped for UV and EB curing. The system will go into operation at the company’s 213,000-square-foot facility in late 2012.
Print quality, quick-change sleeve technology and the prospect of lower production costs were key factors in the investment decision, along with Goss support resources in the United States, according to Lee Timmerman, president of Precision Press. Timmerman says the Sunday Vpak 500 press will accommodate a wide variety of film substrates, product formats and high-quality lithographic requirements, supplementing the company’s extensive web offset capabilities.
“We have made a deliberate decision to do something different,” he explains. “There is a lot of untapped potential for web offset in the packaging arena, and we’re excited about the new print quality, productivity and efficiency benefits the Goss press technology will bring to our customers.”
Sunday Vpak 500 presses print at up to 1,200 fpm. Goss will equip the system at Precision Press with a closed-loop color, registration and inspection system.
click here
-
04.11.2012
Owens-Illinois, Inc. announced today that first quarter 2012 results, based on preliminary indications, should exceed prior year first quarter 2011 earnings from continuing operations of $0.50 per share (diluted) by more than 35 percent. The higher first quarter 2012 results were primarily driven by good manufacturing performance as the Company's facilities operated at greater than planned production rates. The Company increased its levels of finished goods inventory during the first quarter to support the upcoming seasonal sales volume trends, especially in North America and Europe, and to avoid the supply chain inefficiencies experienced last year during the second quarter. The results also partially benefited from 2012 pricing actions to offset unrecovered prior year inflation and anticipated 2012 inflation. Cost reduction activities initiated in the second half of 2011, as well as lower than expected costs in the first quarter of 2012 for the successful SAP deployment in North America, also benefited results.
Commenting on preliminary first quarter 2012 results and the Company's business outlook, Chairman and CEO Al Stroucken said, "We are seeing generally good initial results from our price increases and operational efficiencies. We are encouraged by the first quarter performance, yet conflicting customer demand patterns, especially in Europe where uncertainty regarding financial markets persists, continue to impact our visibility for the remainder of the year. Accordingly, we will actively manage our production levels for significant changes in sales demand patterns, and such actions could considerably influence future financial results."
click here
-
04.11.2012
Mohawk will focus its manufacturing exclusively on high-margin papers and products that will bring distinct value to the new generation of print customers, a unique positioning in an industry historically driven by volume and capacity.
Mohawk will develop strategic acquisitions and partnerships that successfully leverage Mohawk’s expertise and operational excellence.
Mohawk will continue to move closer to the end-customer across all business segments.
click here
-
04.11.2012
The Chairman of the Board of the Forest Products Association of Canada (FPAC) Jim Lopez, today announced that Fortress Paper has become the newest member of the industry group. FPAC is the voice of Canada’s wood, pulp and paper producers nationally and internationally in government, trade and environmental affairs.
“We are delighted to welcome Fortress Paper to FPAC.” said Lopez. “Fortress will fit well in an association that is actively engaged in the dynamic transformation taking place in our sector aimed at producing new and valuable products from trees.”
Fortress is an international producer of dissolving pulp, security papers and other security related products and wallpaper base. The Fortress Specialty Cellulose Mill, located in Thurso Quebec, produces dissolving pulp for the viscose fibre industry in Asia. The Companies Dresden Mill in Germany is a leading international producer of specialty non-woven wallpaper base products. The company’s security paper products business is based out of its Landqart mill in Switzerland, where it produces banknote, passport, visa and other security papers and products.
Fortress has also recently signed an agreement to purchase a mill in Lebel-sur-Quevillon Quebec where it will produce dissolving pulp and operate a co-generation facility to produce bio-energy. The company is based in Vancouver.
click here
-
04.10.2012
BtoB has announced the launch of Crain's Social Media Group, a new division within parent company Crain Communications Inc. that provides social media marketing consulting services to businesses.
The new unit offers social media training, including customized training seminars, personalized executive coaching and social media audits as well as strategic social media planning and execution.
Overseeing Crain's Social Media Group is Tracy Samantha Schmidt, director-training and strategy.
"Clearly, social media is incredibly important in today's business communications mix," said BtoB Publisher Bob Felsenthal. "Tracy and our new division can help executives build their personal business presence and use effective best practices to help grow their companies' businesses."
click here
-
04.10.2012
Oil dropped for a second day in New York as a decline in China’s fuel imports and speculation that U.S. crude stockpiles rose to the highest in 22 years raised concern of slowing global demand.
Futures slid as much as 0.7 percent. U.S. inventories probably increased 2 million barrels to 364.4 million last week, the most for this time of year since 1990, according to a Bloomberg News survey before an Energy Department report tomorrow. China’s net crude imports fell 6 percent in March and overseas purchases of all goods missed economists’ estimates, customs data showed. The two nations are the world’s biggest oil consumers. Prices have gained this year on worry that tension with Iran will disrupt global supplies.
“We are now between winter and summer with relatively low demand and high refinery maintenance,” Bjarne Schieldrop, Oslo- based chief commodity analyst at SEB AB, said today in an e- mailed response. Given the previous two weeks’ increases in U.S. stockpiles, “the market is likely to be cautious on the bull side with concern that we could see yet another strong rise tomorrow.”
Oil for May delivery fell as much as 71 cents to $101.75 a barrel in electronic trading on the New York Mercantile Exchange and was at $101.77 at 11:19 a.m. London time.
click here
-
04.10.2012
With record recovered paper prices (unadjusted for inflation) at US mills the last two years, FutureMark Paper announced that it signed three long-term supply agreements for recovered paper that set a single price for the term of each contract based on historical averages rather than on monthly moving price terms.
FutureMark CEO Steve Silver said Tuesday that the two- and three-year agreements should iron out recovered paper price highs, which don't benefit FutureMark, and lows, which don't benefit recovered paper suppliers. The agreements cover about 40% of the 125,000 tons of recovered paper that FutureMark purchases annually. Of the 125,000, FutureMark consumes 70% old magazines (OMG) and coated groundwood sections (CGS), and 30% old newspapers (ONP) and coated book stock.
One of the agreements is with RockTenn, the third largest recovered paper processor in North America last year at about 1.75 million tonnes, the second largest consumer at about 4 million tonnes, and the 11thlargest exporter. For its recycled-content board mills, RockTenn principally uses old corrugated containers. Silver wouldn't identify the other two suppliers.
click here
-
04.10.2012
Japan Pulp and Paper Company (JP) said that it has acquired a 49% holding of the available shares in KCT Trading Private Limited, an Indian wholesale paper trading company, as part of the company’s efforts to further expand its global business activities.
The acquisition will enable the JP Group to strengthen its sales network in the growing Indian paper market, the company said in a statement.
In accordance with its JP Group Mid-term Business Plan 2013, JP is striving to expand its activities in relation to its overseas, resource and environment-related businesses fields in addition to its efforts to increase the profitability of its existing operations.
In terms of its overseas activities, JP is continuing to expand its global sourcing and sales network with business developments being made in a variety of areas including the wholesale supply of paper and paperboard, the manufacture of corrugated containerboard, the sale of raw materials used in the making of paper and the manufacture and sale of household paper products, the company said.
click here
-
04.10.2012
CourseSmart, a consortium of textbook publishers offering a range of digital textbooks options for faculty and students, has released the new CourseSmart Reader, a new browser-based e-reading software platform that offers improved functionality, new tools, viewing options and overall enhanced user experience for accessing digital textbooks and course material. The new reader offers three distinct online viewing options and the release marks an enhancement in the CourseSmart platform that allows its e-textbook catalog to be \ integrated into an educational institution’s library and campus learning systems.
The new CourseSmart Reader is a cloud-based browser-based e-reader that offers students and faculty improvements in overall user experience including improved look and feel, faster page loading, stream-lined navigation, better highlighting, notes and annotations, improved search and the ability to easily index a complete listing of all notes and annotations, according to Jill Ambrose, chief marketing officer at CourseSmart. “We took a lot of faculty and student feedback to learn what helps them the most in teaching and learning to make these improvements,” she said.
The new reader allows a user to access their textbook content on multiple devices online as well as offline. Students can log on their account through the web or through the CourseSmart web app and users can toggle back and forth between the improved new reader and the classic reader view. Another upgrade allows users to request Accessible View, which provides the digital text in a fixed layout mode that displays the original print layout. The new CourseSmart Reader is available for use on Apple devices—the iPhone, iPad and iPod Touch—as well as Android 2.3 and 3.0 tablets and the Kindle Fire, NookColor and NookTablet.
click here
-
04.10.2012
SCA has decided to acquire an additional 5 percent of the shares in the leading Chinese tissue company Vinda. The purchase price is around 600 MSEK.
The seller in the transaction is Fu An, a company majority owned by Mr Li, the Chairman of Vinda. SCA’s share in Vinda after the transaction will be 22.6%.
Vinda is one of the most successful tissue producers in China, the second largest tissue market in the world. Currently Vinda commands strong brand recognition in the country and being the third largest player in the China household paper industry in terms of market share and production capacity. The company has eight production facilities with a total production capacity of 470,000 tons and targeting to reach 1 million tons in the coming years.
click here
-
04.09.2012
Apple Inc. (AAPL) and two publishers are preparing to fight the U.S. Justice Department in court if necessary over pricing agreements for digital books, according to two people with knowledge of the matter.
Apple, Pearson Plc (PSON)’s Penguin Group, and Macmillan, a unit of Verlagsgruppe Georg von Holtzbrinck GmbH, want to protect the so-called agency model that lets publishers -- not vendors --set e-book prices, said the people, who declined to be identified because they weren’t authorized to talk publicly.
The Justice Department is probing whether Apple’s interaction with publishers over pricing hampered competition in the market for electronic books. The government is seeking a settlement that would let Amazon.com Inc. (AMZN) and other retailers return to a wholesale model, where retailers decide what to charge customers, the people said.
CBS Corp. (CBS)’s Simon & Schuster, Lagardère SCA (MMB)’s Hachette Book Group, and News Corp.’s HarperCollins are seeking to avoid a costly legal battle and could reach a settlement next week, a person said this week. A settlement could also void so-called most-favored nation clauses in Apple’s contracts that require book sellers to provide the maker of the iPad with the lowest prices they offer competitors, the people said.
click here
-
04.09.2012
Oil fell for the third time in four days after Iran agreed to resume talks on its nuclear program and economic reports in the U.S. and China raised concern about fuel demand.
Futures slid as much as 1.4 percent as trading resumed after the Easter holiday weekend. International negotiations with Iran’s government are scheduled to start this week over its nuclear program. China said inflation in March accelerated more than forecast, reducing the Chinese government’s leeway to boost the economy. The U.S. created 120,000 jobs in March, fewer than forecast and the smallest increase in five months, an April 6 report showed.
The American payroll data “raises the old question mark about the speed of the U.S. recovery,” and whether it will depress oil demand, Olivier Jakob, managing director of Switzerland-based consultant Petromatrix GmbH, said by telephone today.
Oil for May delivery declined as much as $1.44 to $101.87 a barrel in electronic trading on the New York Mercantile Exchange and was at $102.13 at 9:10 a.m. London time. The contract gained 1.8 percent to $103.31 on April 5, the latest settlement.
click here
-
04.09.2012
Local online media revenue is expected to reach $19.9 billion this year, growing 21.3%, according to a study published by Borrell Associates. “Local Online Media: 2011 Revenue Survey” found that local online media revenue increased 21.0% last year to $16.4 billion.
At the current rate of growth, Borrell Associates predicted that newspapers may no longer control the lion's share of local media next year. “As print newspaper share continues to slip and the popularity of mobile advertising skyrockets, online media are likely to topple newspapers within two years. If that occurs, it would be the first time in media history that newspapers didn't hold the No. 1 position,” the study said.
To complete the study, Borrell Associates last year surveyed 5,756 media companies in the U.S. and Canada via phone and email.
click here
-
04.09.2012
Nearly half, or 47%, of consumers are buying more online this year, up from 38% last year and 33% in 2010, according to the new Deloitte Retail & Consumer Spending Survey. Deloitte based its findings on an online survey of 1,000 U.S. consumers conducted between March 5 and March 7.
The survey suggests that relatively affluent consumers will account for significant e-commerce gains this year. 63% of respondents who said they earn at least $100,000 annually say they are buying more items online this year, compared with 44% of respondents earning less than $100,000. Those income groups have differing views of the economy’s health. Of respondents earning at least $100,000, a third of them, 33%, say the economy remains in recession, compared with 44% for lower-income consumers.
For all consumers, shopping the web is becoming an increasingly popular way to find low prices, according to the survey. 58% of all respondents said they often find lower prices online than in bricks-and-mortar stores, compared with 53% who said the same last year.
click here
-
04.09.2012
For magazine veterans watching the magazine app space evolve on tablets there are no surprises in Kantar Media’s new survey of advertising on the platform. Magazine app publishers generally are relying on their current client base, tending to repurpose print ads without enhancement and running fewer ads in apps overall. But Kanrtar is offering a comprehensive overview of the state of the market across scores of titles.
As expected, more than 90% of ads appear in tablet magazine apps correspond with ads also in the print title. For now, at least, the tablet is not helping publishers expand their advertising base, the metric suggests. On average the apps ran only about 60% of the number of ads as their print counterparts, although Kantar says that average represents a wide range. In come cases the apps saw only 10% of the ads of the print version and in other cases the apps carried as high as 150% of the ad load.
Among the ad categories most notably absent from tablet editions in pharma. Very few ads for prescription drugs were found in tablet mags.
click here
-
04.09.2012
The National Football League, which is unmatched in the sports business ($$$/billions of revenues per year), proved to be a flop in the magazine business with the closure late last week of NFL magazine. The circa-400,000 monthly launched last December--when the 2011 season was nearing its peak with the Super Bowl coming in February, which meant plenty of mentions during television game coverage. But the credibility of Canadian-based partner Dauphin Media Group was questioned from the start.
What also was questioned was why the NFL did not publish the magazine through the NFL Network, in the manner that ESPN the Magazine complements ESPN. That may very well happen should there be a relaunch.
click here
-
04.09.2012
Standard Register, a leader in the management and execution of mission-critical communications, today announced that on April 3, 2012, it was notified by the New York Stock Exchange that it is no longer in compliance with the NYSE’s continued listing standards. Standard Register is considered below the criteria since the Company’s average market capitalization was less than $50 million over a 30 trading-day period and, at the same time, its shareowner’s equity was less than $50 million.
Under applicable NYSE procedures, the Company has 45 days from receipt of the notice to submit a plan to the NYSE to demonstrate its ability to achieve compliance with the continued listing standards within 18 months. Standard Register intends to submit such a plan, which will likely include many of the elements of the strategic restructuring program announced on January 23, 2012, that is designed to better align the Company’s resources in support of its growing core solutions business and to reduce costs to offset the impact of declining revenue in its legacy operations.
click here
-
04.06.2012
As a result of rising input and transportation costs, NewPage is increasing prices effective on all new and existing orders with confirmed delivery dates of May 1, 2012 and later.
This increase applies to all Coated Freesheet and Coated Groundwood grades including, but not limited to, the following:
• Arborweb® web; Orion® web; and Vision® web $1.50/cwt US$/CAD$.
• Dependoweb® web; Escanaba® web; Capri® web; Consoweb® web; Consoweb Advantage® web; and All Textbook grades $3.00/cwt US$/CAD$.
This increase applies to all basis weights, finishes, brand extensions, and all related private label grades.
click here
-
04.06.2012
AAA’s Fuel Gage Report as of 4/5/12
National Unleaded Regular:
Current Average - $3.936/gallon
Month Ago Average - $3.764/gallon
Year Ago Average - $3.707/gallon
Highest Recorded Average - $4.114/gallon on 7/17/08
Diesel:
Current Average - $4.166/gallon
Month Ago Average - $4.084/gallon
Year Ago Average - $4.003/gallon
Highest Recorded Average - $4.845/gallon on 7/17/08
Current Exchange Rates as of 4/5/12
American Dollar to Canadian Dollar = 1.00199 (120 day high - 1.01463 on March 1, 2012; low 0.950905 on November 25, 2011)
American Dollar to Chinese Yuan = 0.158596 (120 day high – 0.158948 on February 13, 2012; low 0.156582 on October 21, 2011)
American Dollar to Euro = 1.3068 (120 day high - 1.416 on October 28, 2011; low 1.2669 on January 16, 2012)
American Dollar to Japanese Yen = 0.0122062 (120 day high – 0.0131979 on October 28, 2011; low 0.0119026 on March 21, 2012)
American Dollar to Mexican Peso = 0.0776729 (120 day high – 0.0793808 on March 14, 2012; low 0.0700535 on November 25, 2011)
click here
-
04.06.2012
Amazon.com, Inc. today announced a new Spanish-language eBook store within the Amazon.com Kindle Store, "eBooks Kindle en Español" (
http://www.amazon.com/tiendakindle), along with additional features specially implemented for U.S. Spanish-speaking customers like extensive help pages, and phone and email customer support in Spanish. U.S. customers can now shop for Spanish-language books in the new store on Amazon.com, or set any Kindle device to access a customized shopping experience designed for books in Spanish. eBooks Kindle en Español offers customers the most Spanish-language bestsellers, as measured by Nielsen, including "El Alquimista" by Paulo Coelho, "Cien años de soledad" by Gabriel García Márquez and "Juegos del Hambre" by Suzanne Collins. The store has over 30,000 titles in total, including the exclusive nonfiction work, "El Libro de los Manuales," from iconic Brazilian author Paulo Coelho, the best-selling Spanish-language author of all time on Amazon.com. The store also includes books from Nobel Prize winners Gabriel García Márquez, Camilo Jose Cela and Mario Vargas Llosa, popular titles from best-selling authors such as Julia Navarro, Carlos Ruiz Zafón and Isabel Allende, over a thousand free classics in Spanish, and exclusive Kindle Singles in Spanish. In addition to the new Spanish-language eBook store, the new $79 Kindle and many free Kindle reading apps can be easily customized for complete Spanish-language reading and navigation, including popular highlights and other social features.
-
04.06.2012
Amcor announces today the US$40 million acquisition of the Aluprint tobacco packaging plant in Monterrey, Mexico.
The acquisition establishes a local presence in Mexico, a large and strategically located market for tobacco packaging. It follows Amcor’s recently announced purchase of a tobacco packaging operation in Argentina.
The Monterrey plant was constructed in 2009 at an approximate cost of US$40 million and the acquisition price represents the book value of assets acquired, comprising the plant at Monterrey, a cylinder engraving operation and working capital. The business has sales of US$30 million.
click here
-
04.06.2012
EMarketer today increased its e-commerce growth forecast for 2012, and now projects that U.S. online shoppers will spend $224.2 billion this year, up 15.4% from $194.3 billion in 2011. The research firm previously projected that sales would increase 11.3% from 2011, to $209.3 billion from $188.1 billion.
The rosier view of e-commerce came about because of several factors, says an eMarketer spokesman. Those include “stronger-than-expected figures reported by the U.S. Department of Commerce for e-commerce sales in 2011, particularly in Q4, as well as multiple reports suggesting that consumer optimism, homebuilding and the number of people willing to buy goods online is growing, while unemployment is declining slightly,” he says.
In February, the U.S. Department of Commerce said that U.S. e-commerce sales last year totaled $194.3 billion, up 16.1% from $167.3 billion in 2010. Seasonally adjusted online retail spending for the fourth quarter of 2011 hit $51.4 billion, up 15.5% from $44.5 billion for the same period in 2010. The unemployment rate in February was 8.3%, unchanged from January and down from 9.0% in February 2011, according to the U.S. Bureau of Labor Statistics.
click here
-
04.06.2012
Just more than a fifth of U.S. adults, 21%, said in February that they had read an e-book within the past year, up from 17% who said the same in December, according to a report issued today by Pew Research Center’s Internet and American Life Project.
And the spread of electronic reading devices apparently has inspired readers to read even more books, Pew says. What the center calls the “average reader of e-books” read 24 books within the past year, compared with 15 books for readers who remain completely loyal to print.
“It’s now clear that readers are embracing a new format for books and a significant number are reading more because books can be plucked out of the air,” says Lee Rainie, one of the authors of the Pew report.
Pew based its findings on a variety of surveys that covered different aspects of e-books, reading and device use: A survey of 2,986 consumers aged 16 and older conducted between Nov. 16 and Dec. 21, 2011; a survey of 2,008 consumers aged 18 and older conducted in January; and a survey of 2,253 consumers aged 18 and older conducted between Jan. 20 and Feb. 19.
click here
-
04.06.2012
Mercer International Inc. announced that it has extended to April 16, 2012, the expiry date for its offer to acquire all of the issued and outstanding common shares of Fibrek Inc. The extension is intended to allow Mercer to obtain shareholder approval at its meeting of shareholders scheduled for April 10, 2012, for the issuance of its common stock in connection with the Offer. Mercer previously entered into voting support agreements with its two largest institutional shareholders and its Chairman and Chief Executive Officer, who collectively own approximately 44% of the outstanding Mercer Shares, who have agreed to vote their Mercer Shares in favor of the Shareholder Approval.
The consideration offered by Mercer under the Offer and the remaining terms thereof remain unchanged. As varied, Mercer's Offer will expire at 11:59 p.m. (Eastern Time) on April 16, 2012, unless otherwise extended or withdrawn by Mercer.
click here
-
04.06.2012
Dick's Sporting Goods has agreed to make a 20 million pound investment ($31.75 million) in U.K. sports retailer JJB Sports plc, which operates over 180 stores in the United Kingdom and Ireland.
Dick's will purchase 18.75 million pounds ($29.76 million) in junior secured convertible notes and 1.25 million pounds ($1.98 million) in ordinary shares of JJB Sports. The transaction is subject to approval of the British company's shareholders.
Dick's has also received an option to buy an additional 20 million pounds in junior secured convertible notes of JJB in connection with a follow-on financing expected to take place in first quarter 2013.
click here
-
04.06.2012
Bed Bath & Beyond Inc. today reported net earnings of $1.48 per diluted share ($351.0 million) in the fiscal fourth quarter ended February 25, 2012, an increase of approximately 32% versus net earnings of $1.12 per diluted share ($283.5 million) in the same quarter a year ago. Net sales for the fiscal fourth quarter of 2011 were approximately $2.732 billion, an increase of approximately 9.1% from net sales of approximately $2.505 billion reported in the fiscal fourth quarter of 2010. Comparable store sales in the fiscal fourth quarter of 2011 increased by approximately 6.8%, compared with an increase of approximately 8.5% in last year's fiscal fourth quarter.
During the fiscal fourth quarter of 2011, the Company repurchased approximately $359 million of its common stock representing approximately 5.9 million shares. As of February 25, 2012, the remaining balance of the current share repurchase program authorized in December 2010 was approximately $919 million.
For the fiscal year ended February 25, 2012, the Company reported net earnings of $4.06 per diluted share ($989.5 million), an increase of approximately 32% over net earnings of $3.07 per diluted share ($791.3 million) a year ago. Net sales for fiscal 2011 were approximately $9.500 billion, an increase of approximately 8.5% from net sales of approximately $8.759 billion in the prior fiscal year. Comparable store sales for fiscal 2011 increased by approximately 5.9%, compared with an increase of approximately 7.8% in last year.
For fiscal 2012, the Company is modeling net earnings per diluted share to be approximately $.79 to $.83 for the fiscal first quarter and to increase by a high single to a low double digit percentage range for the full year, which will be 53 weeks.
click here
-
04.06.2012
Rite Aid Corporation today announced sales results for March.
For the four weeks ended March 31, 2012, same store sales increased 3.6 percent over the prior-year period. March front-end same store sales increased 4.6 percent. Pharmacy same store sales, which included an approximate 240 basis points negative impact from new generic introductions, increased 3.2 percent. Prescription count at comparable stores increased 2.6 percent over the prior-year period.
click here
-
04.06.2012
TC Media is further developing its digital network and has signed an agreement to represent poolexpert.com with Canadian advertisers. PoolExpert® is a fantasy league management platform that receives 207,000 unique visitors and 22,000,000 page views a month during the hockey season. It is a bilingual, subscriber-driven site; 94% of users are male and adds to TC Media’s available offer to hockey fans, notably The Hockey News website which receives 158,000 unique visitors a month. This agreement marks a fine addition to the TC Media digital network as it expands its offering for men in the Sports and Entertainment categories.
click here
-
04.06.2012
Retailer Saks Incorporated today announced that owned sales totaled $276.5 million for the five weeks ended March 31, 2012 compared to $260.2 million for the five weeks ended April 2, 2011, a 6.3% increase. Comparable store sales also increased 6.3% for the month.
On a year-to-date basis for the two months ended March 31, 2012, owned sales totaled $484.4 million compared to $456.3 million for the two months ended April 2, 2011, a 6.2% increase. Comparable store sales increased 6.4% for the two-month period.
click here
-
04.06.2012
Nordstrom, Inc. today reported an 8.6 percent increase in same-store sales for the five-week period ended March 31, 2012 compared with the five-week period ended April 2, 2011. Preliminary total retail sales of $1.03 billion for March 2012 increased 14.7 percent compared with total retail sales of $897 million for the same period in fiscal 2011.
Quarter-to-date same-store sales increased 9.2 percent compared with the same period in fiscal 2011. Preliminary quarter-to-date total retail sales of $1.73 billion increased 15.3 percent compared with total retail sales of $1.50 billion for the same period in fiscal 2011.
click here
-
04.06.2012
Kohl’s Corporation reported today that for the five-week month ended March 31, 2012 total sales increased 5.3 percent and comparable store sales increased 3.6 percent over the five-week month ended April 2, 2011. Year to date, total sales have increased 3.6 percent and comparable store sales have increased 1.8 percent.
The Company opened 9 new stores, including one relocated store, and closed one store in March 2012 and now operates 1,134 stores in 49 states, compared to 1,097 stores at the same time last year.
click here
-
04.06.2012
Gap Inc. today reported that March 2012 net sales increased 10 percent compared with last year.
Net sales for the five-week period ended March 31, 2012 were $1.46 billion compared with net sales of $1.33 billion for the five-week period ended April 2, 2011. The company’s comparable sales for March 2012, which include the associated comparable online sales, were up 8 percent compared with a 10 percent decrease for March 2011.
click here
-
04.05.2012
Target Corporation today reported that its net retail sales for the five weeks ended March 31, 2012 were $6,427 million, an increase of 7.9 percent from $5,955 million for the five weeks ended April 2, 2011. On this same basis, March comparable-store sales increased 7.3 percent.
click here
-
04.05.2012
Macy's, Inc. today reported total sales of $2.358 billion for the five weeks ended March 31, 2012, an increase of 6.9 percent compared with total sales of $2.206 billion in the five weeks ended April 2, 2011. On a same-store basis, Macy's, Inc. sales were up 7.3 percent in March 2012 as compared to March 2011.
For the year to date, Macy's, Inc.'s sales totaled $4.218 billion, up 6.3 percent from total sales of $3.969 billion in the first nine weeks of 2011. On a same-store basis, Macy's, Inc.'s year-to-date sales were up 6.1 percent.
click here
-
04.05.2012
Oil in New York traded near its lowest price in seven weeks, paring earlier gains amid renewed concern that the euro area has yet to contain its debt crisis.
Futures were little changed, after advancing as much as 1 percent. European equities retreated and the euro weakened against the dollar as Spanish bonds fell and borrowing costs increased at a French auction. A report showed industrial output in Germany declined more than forecast last month. New York crude dropped 2.4 percent yesterday, leaving West Texas Intermediate futures at the biggest discount to London-traded Brent crude in more than five months.
“Oil is staying near yesterday’s low on concerns about the European debt situation,” said Eugen Weinberg, head of commodities research at Commerzbank AG in Frankfurt. “It is in line with all risky assets right now. Today we had France, yesterday we had Spain’s auction. Equities and commodities are being driven by a higher risk aversion.”
Crude for May delivery on the New York Mercantile Exchange was at $101.67, up 20 cents, at 10:50 a.m. London time, after gaining as much as 96 cents to $102.43 a barrel. The contract fell yesterday to as low as $101.08 the least since Feb. 16.
click here
-
04.05.2012
Stora Enso Renewable Packaging plans to improve competitiveness and respond to customer needs through restructuring its converting operations at Páty in Hungary and efficiency measures in the consumer board mill at Barcelona in Spain.
“Demand for corrugated board consumer packaging has significantly weakened in Hungary, so we plan to centralise our operations in Hungary to Komarom Mill and close down Páty Mill. As a part of the plans, Komarom Mill would be enhanced with asset transfers and recruitment so it can better meet customer and market needs. The efficiency measures planned in Barcelona are intended to improve the mill’s profitability. The plans announced today, in combination with earlier announcements, would improve Renewable Packaging’s cost competitiveness,” says Mats Nordlander, EVP, Renewable Packaging.
According to the plans, converting operations at Páty Mill in Hungary would be permanently closed down by the end of the third quarter of 2012. The planned closure would affect 79 employees at Páty. The proposed restructuring measures would reduce the number of employees at Barcelona in Spain by 15. No decisions will be taken until after the local co-determination negotiations have concluded.
click here
-
04.05.2012
Bonnier Corp. and Pulse announced a new partnership today — 20 Bonnier brands are launching on Pulse, the award-winning application that makes it easy to consume news on mobile phones and tablets.
The new full-fledged partnership follows a trial run with Bonnier's iconic brand Popular Science. It launched on Pulse in July 2011 and has now become one of the most actively read sources on the Pulse platform.
Popular Science grew from 60,000 initial subscribers in its first month on Pulse to over 3 million subscribers in January 2012. The impressive growth in only six months pushed Bonnier and Pulse to form this new partnership. New Bonnier titles, in addition to Popular Science, officially launching today include: American Photo, Conceive, Field and Stream, Garden Design, Outdoor Life, Parenting, Popular Photography, Saveur, Scuba Diving, Ski, Skiing, Sound + Vision. TransWorld Ride BMX, TransWorld Business, TransWorld Motocross, TransWorld SKATEboarding, TransWorld Surf, TransWorld WAKEBOARDING and Working Mother.
click here
-
04.05.2012
Electric City Printing, a Consolidated Graphics, Inc. company based in Williamston, SC, recently installed an HP4600 digital press in order to facilitate a growing demand for the company’s printed race number capabilities. The new HP4600 will supplement output from the printer’s existing HP4050, which serves a similar function. Electric City is the world’s largest printer for competition media, providing entry packets, racing numbers, brochures, signage, and integrated technology to help facilitate major races and competitions throughout the world.
“We had to look for additional equipment to service our growing clientele,” said Electric City President Mike Schmitz. “Electric City has been servicing the racing business for over 30 years, and we’ve committed ourselves to bringing our customers the newest technology, highest-quality equipment, and best-in-class service to meet their needs.”
The new press will supplement the company’s existing HP4050 press, enabling Electric City to output nearly six million impressions per month in order to keep up with growing demand. The two presses will be used primarily to print race numbers on DuPont Tyvek, which requires specialized equipment to avoid melting the substrate. The digital press also helps service a growing demand for customization at events like the Disney Princess Race in Orlando, Florida, where runners can select a Disney princess, color, and name, all of which are printed onto the race number. Additional benefits of the new press include faster turnaround times and reduced cleanup and maintenance.
click here
-
04.05.2012
Google has enhanced its AdWords products by enabling advertisers to create multiple ads for multiple locations and by providing more precision by targeting at the zip code level, said Richard Holden, a Google product management director.
“These set of features will give advertisers more control over how they target advertising locally,” Holden said. “It also gives consumers higher quality ads by giving them the right ad at the right time.”
The first feature, AdWords Location Targeting, allows advertisers to target more than 30,000 US zip codes. They can add up to 1,000 post codes at a time to search ad campaigns. AdWords Location gives advertisers more precision about which ad to show and when, based on origin and regardless of the intent of the search.
Previously, Google would try to figure out what ads to show based on search intent, Holden said, not based on where the search originated from.
“This had some unforeseen consequences where ads were not showing what advertisers wanted them to show,” Holden said.
Holden said the tool is especially useful for the travel sector. For example, if a consumer in Atlanta searches for flights to Seattle, then an advertiser targeting Atlanta residents can still show their ads.
click here
-
04.05.2012
The 'Netflix for magazines' concept is back. Next Issue Media has rolled out a new digital newsstand subscription plan and app for tablet magazines that allows customers to pay a flat monthly fee for unlimited access to a collection of, so far, 32 titles.
For the $10.00 per month basic plan, customers have access to 27 titles from NIM's consortium of 5 publishers—Condé Nast, Hearst, Meredith, Time Inc. and News Corp—including Better Homes and Gardens, Esquire, Real Simple and Vanity Fair. So far, News Corp has not contributed a title in the plan.
For $15.00, customers get the premium plan, which includes five weeklies: Entertainment Weekly, People, Sports Illustrated, The New Yorker and Time.
The plan is being promoted with a free 30-day trial for first-time customers. Access includes the ability to choose freely among the selections.
Beyond the 32-title inventory, there are some other initial limitations. The magazines are only available for Android tablets. The company says it's submitting the newsstand app to Apple "in the coming weeks."
click here
-
04.05.2012
A Colorado law that required online retailers without a physical presence in the state to inform Colorado customers of their use tax obligations and also report that information to the state’s Department of Revenue has been ruled unconstitutional by a federal court judge.
The Colorado law, passed in 2010 but never enforced, required retailers with $100,000 or more in annual sales to Colorado residents to provide those consumers with a report of their past year’s purchases and notify them of their responsibility to pay use tax—essentially the equivalent of the state sales tax—on those purchases. The law also required the retailers to provide the state with an annual report listing the names, billing addresses, shipping addresses and the total amount of purchases for each of their Colorado customers.
In his ruling late last week, Judge Robert Blackburn, of the U.S. District Court for the district of Colorado, wrote that the Colorado law placed unique burdens on out-of-state retailers and were discriminatory. “The Act and the Regulations [of the Colorado law] directly regulate and discriminate against out-of-state retailers and, therefore, interstate commerce,” wrote Blackburn. His ruling cited a 1992 U.S. Supreme Court decision from which was born a requirement that states can’t tax online purchases from e-retailers that don’t have a physical presence in those states.
click here
-
04.05.2012
In an effort to better serve customers through consolidated and streamlined operations, Pactiv intends to phase out all operations at the Molded Fiber facility in Griffith, Ind. before the end of 2012. All product production and equipment at Griffith will be transferred to other Pactiv facilities based on the needs of customers and the business.
click here
-
04.05.2012
Amazon.com is America's most relevant retailer, followed by Target, according to Brodeur Partners’ Retail Relevance Top 10 ranking. The study asked shoppers to look at 21 of the nation's top retailers and select the "most" and "least" personally relevant retailer in four specific areas: practicality, values, sensory appeal and social appeal.
"These are four ingredients of relevance that you look for in everything, from a Google search to a product, candidate, cause, or place to shop," said Brodeur Andy Coville, CEO, Brodeur Partners, Boston. "Amazon.com has clearly cracked the code when it comes to being relevant to American shoppers."
It is striking, the company noted, that shoppers gave Amazon.com the highest ranking in the area of practical value considering it has no real-world storefront shoppers can visit.
Target came in second in the relevance ranking largely because shoppers found it the most appealing to the senses.
click here
-
04.05.2012
Kirkwood Holdings has acquired Nu Graphics Etc., an advanced digital print solutions company. Nu Graphics Etc. joins renowned commercial printer Kirkwood Printing (Printing Impressions 2011 Top 400 ranking: #111 with $43 million in sales) and direct marketing communications leader Kirkwood Direct in serving a sophisticated domestic and international clientele. Perrone Group, which is also under Kirkwood Holdings’ umbrella, offers extensive direct marketing expertise to the higher education and nonprofit marketplace.
“The purchase of Nu Graphics Etc. is a growth-based acquisition designed to meet our clients’ rapidly growing demand for high quality variable digital and large format printing,” says Robert Coppinger, president and CEO of Kirkwood Holdings. “We are poised to take Nu Graphics Etc. from a strategic partner to a member of the Kirkwood family, retaining the same exceptional management and services.”
According to Stephan Duncan, president and general manager of Kirkwood Direct, “The acquisition of Nu Graphics is extremely positive and will continue to ensure that our clients receive a full roster of services unmatched by any other company.”
click here
-
04.05.2012
Stein Mart, Inc. today reported comparable store sales for the five-week period ended March 31, 2012 decreased 0.3 percent. Total sales for the period were $127.5 million, an increase of 0.4 percent from $127.0 million in the same period in 2011.
click here
-
04.05.2012
Costco Wholesale Corporation today reported net sales of $9.13 billion for the month of March, the five weeks ended April 1, 2012, an increase of 10 percent from $8.33 billion during the similar period last year.
For the first thirty-one weeks of its reporting period ended April 1, 2012, the Company reported net sales of $56.34 billion, an increase of 11 percent from $50.79 billion during the similar period last year.
click here