REI Co-op announced today the acquisition of its long-standing adventure travel partner Arizona Outback Adventures (AOA). For more than 15 years, REI and AOA have partnered to deliver fully guided active adventures in national parks and iconic destinations across the Western United States. The acquisition complements REI’s broader experiences offering and brings together two like-minded, values-driven organizations focused on providing life-changing outdoor experiences. As a subsidiary of REI, AOA will remain in Scottsdale, Arizona. The team will stay focused on growing its successful multiday, day and rentals business. AOA founder Seth Heald will continue to oversee AOA’s operations, program development and more than 120 expert outdoor adventure guides and office staff. He also assumes a leadership role in REI’s experiences division. Click read more below for additional detail.
Each year on March 2, thousands of schools, libraries and community centers participate in Read Across America Day. This national event brings kids and books together to commemorate Dr. Seuss’ birthday. The day also kicks off National Reading Month, which celebrates reading and motivates people of all ages to read every day. Mounting evidence shows that paper is important for learning, and that printed books allow readers to focus better and retain more information than digital books or online materials. We are proud to play a role in promoting literacy through the many children’s books — including Dr. Seuss titles — and adult titles that have been printed on our Husky® paper, which is manufactured at our Johnsonburg Mill. Through our Powerful Pages program, we work with organizations and schools across North America to promote literacy and equip students for learning. As part of this initiative, we have been longtime partners with First Book and Classroom Central. These nonprofit organizations ensure children have the necessary tools for learning, such as books and school supplies. Click read more below for additional detail.
Fourth Quarter 2018 Highlights: • Net sales up $56 million, or 9%, from fourth quarter 2017. • Net income of $86 million, up 139% from fourth quarter 2017; $2.44 per diluted share; $22 million special item. • Adjusted EBITDA of $96 million, up 48% versus fourth quarter 2017. • No debt outstanding, $26 million of cash and cash equivalents at December 31, 2018. Click read more below for additional detail.
Q4 2018 Highlights • Sales of $1,196 million (compared to $1,175 million in Q3 2018 (+2%) and $1,082 million in Q4 2017 (+11%)) • As reported (including specific items) • Operating loss of $33 million (compared to operating income of $78 million in Q3 2018 (-142%) and $45 million in Q4 2017 (-173%)) 2018 Annual Highlights • Sales of $4,649 million (compared to $4,321 million in 2017 (+8%)) • As reported (including specific items) • Operating income of $230 million (compared to $175 million in 2017 (+31%)) • OIBD of $474 million (compared to $390 million in 2017 (+22%)) • Net earnings per share of $0.62 (compared to net earnings of $5.35 in 2017). Click read more below for additional detail.
Cascades Inc. (TSX: CAS), a leader in the recovery and manufacturing of green packaging and tissue products, announces the definitive closure of its tissue paper machines located in Whitby and Scarborough (Progress Avenue) in Ontario. The leases for these two plants expire on August 27, 2019 and will not be renewed. The end date of the production remains to be determined. In total, the sites produce 44,000 tonnes of tissue paper annually and employ 68 workers. Click read more below for additional detail.
Earnings per share for the 13-week fourth quarter ended Feb. 2, 2019, were $1.94 compared to $2.33 for the 14-week quarter ended Feb. 3, 2018. Thirteen-week fourth quarter operating income was $799.4 million compared to $986.6 million for the 14-week period last year, and 13-week net income was $540.1 million compared to $664.1 million for the 14-week period last year. Earnings per share for the 52-week year ended Feb. 2, 2019, were $2.31 compared to $3.42 for the 53-week year ended Feb. 3, 2018. Fifty-two week full-year operating income was $1.237 billion compared to $1.728 billion for the 53-week period last year, and 52-week net income was $643.9 million compared to $983.0 million for the 53-week period last year. Click read more below for additional detail.
Factory activity in China, the world’s biggest oil importer, shrank for a third month in February as export orders fell at the fastest pace since the financial crisis a decade ago. Lighthizer said issues with China were “too serious” to be resolved with promises from Beijing to purchase more U.S. goods and any deal needed to include a way to ensure commitments were met. Crude prices have also been dragged down by surging U.S. oil production, rising more than 2 million barrels per day (bpd) in the past year to a record 12.1 million bpd. Click read more below for additional detail.
Operating Highlights: •Results in-line with 2018 guidance1 for second consecutive year •Next Generation Core programs launched; 2019 adoption selling season underway •Portfolio enhanced with strategic partnerships and divestiture of Riverside Standardized Testing business •Education segment outperforms market, driven by Extensions billings growth of 8% •Trade year over year growth of 11%, driven by Orwell agreement and relaunch of iconic Carmen Sandiego brand. Click read more below for additional detail.
Kotkamills has been announced as one of the winners in the global innovation initiative NextGen Cup Challenge, launched by the NextGen Consortium that advances the introduction of food packaging alternatives. Kotkamills sees this recognition as a confirmation for its commitment to revolutionize paper cup production and recycling with its plastic-free next-generation barrier board solutions. Worldwide people want to be less dependent of plastic and Kotkamills supports that development with alternative food service and packaging solutions to disposables that contain plastic. Its Game Changer Cup is one of the 12 awarded solutions that push the boundaries of sustainable design and material innovation. The challenge was joined by 480 teams from around the world. Click read more below for additional detail.
Highlights: • Strong financial performance on all key metrics: Revenue of €7,481 million, up 5%; Underlying EBITDA of €1,764 million, up 19%; Underlying operating profit of €1,318 million, up 28%; Basic underlying earnings of 189.1 euro cents per share, up 27%; Profit before tax of €1,105 million, up 25%: Recommended full year ordinary dividend of 76.0 euro cents per share, up 23%. • Robust operational performance and strong cost control across the Group • Capital investment projects on track and delivering growth Successful start-up of the modernisation of t tí (Czech Republic) Focused capital investment project pipeline in progress, securing future growth • Good progress integrating acquisitions, total spend €424 million • Well positioned with sustainable packaging solutions portfolio. Click read more below for additional detail.