After more than 100 years in business, Midland has grown from a single Midwest location to a national company with offices from coast to coast.
This type of growth requires relentless effort and a continual focus on doing things right.
We bring the best products, the best people and the best service to all of our customers in all of our business segments. Play the video to see how we do it.
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Recent Paperclips Industry News
23May 19
Best Buy Reports Better-Than-Expected First Quarter Earnings
Domestic revenue of $8.48 billion increased 0.8% versus last year. The increase was driven by comparable sales growth of 1.3% and revenue from GreatCall, Inc. (“GreatCall”), which was acquired in Q3 FY19, partially offset by the loss of revenue from 105 Best Buy Mobile and 12 large-format store closures in the past year. Domestic gross profit rate was 23.7% versus 23.3% last year. The gross profit rate increase of approximately 40 basis points was primarily driven by the impact of GreatCall’s higher gross profit rate and improved product margin rates, which include the benefit of gross profit optimization initiatives. These favorable items were partially offset by higher supply chain costs. International revenue of $661 million decreased 5.2% versus last year. This decline was primarily driven by the impact of approximately 390 basis points of negative foreign currency exchange rates and a comparable sales decline of 1.2%, which was driven by Canada. International gross profit rate was 24.2% versus 23.4% last year. The gross profit rate increase of approximately 80 basis points was primarily due to Canada, which delivered improved gross profit rates in several product categories and increased revenue in the higher margin rate services category. Click "read more" below for additional information.
23May 19
L Brands Reports First Quarter 2019 Results
The company reported net sales of $2.629 billion for the first quarter ended May 4, 2019, compared to sales of $2.626 billion for the quarter ended May 5, 2018. Comparable sales for the first quarter ended May 4, 2019, were flat compared to the quarter ended May 5, 2018. First quarter comparable sales declined 5 percent at the Victoria’s Secret segment and increased 13 percent at Bath & Body Works. Earnings per share for the first quarter ended May 4, 2019, were $0.14 compared to $0.17 for the quarter ended May 5, 2018. First quarter operating income was $153.3 million compared to $154.8 million last year, and net income was $40.3 million compared to $47.5 million last year. Click "read more" below for additional information.
23May 19
AF&PA Advocates for Service, Rate and Process Reforms at Surface Transportation Board Hearing
American Forest & Paper Association (AF&PA) President and CEO Donna Harman urged the Surface Transportation Board (STB) to work toward service, rate and dispute improvements in a statement regarding the board’s May 22, 23 oversight hearing. AF&PA Director, Government and Industry Affairs Julie Landry’s submitted testimony for the official record for the Oversight Hearing on Demurrage and Accesorial Charges held at the International Trade Commission. “When it comes to shipping forest and wood products across the nation’s rail system, our manufacturers deserve reliable service at a reasonable rate and a fair process to resolve supply chain disruptions and billing disputes. We thank the Surface Transportation Board for hearing our voice on issues that are so central to effectively moving raw materials to mills and finished products to markets. We look forward to working with the board to deliver service, rate and dispute improvements to support our industry’s ability to compete, grow the economy and create American manufacturing jobs.”