• Net sales increased 12.9% to $1,743.0 million compared to $1,543.7 million in the first quarter of fiscal 2018; • Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 7.0% compared to an increase of 8.1% in the first quarter of fiscal 2018. The 7.0% comparable sales increase was driven by 4.3% transaction growth and 2.7% growth in average ticket; • Operating income increased 13.2% to $237.5 million, or 13.6% of net sales, compared to $209.8 million, or 13.6% of net sales, in the first quarter of fiscal 2018; • Net income increased 16.9% to $192.2 million compared to $164.4 million in the first quarter of fiscal 2018; Click Read More below for additional information.
•Net sales were $3.7 billion, a decrease of 2% compared with last year. ◦The translation of foreign currencies into U.S. dollars negatively impacted the company’s net sales for the first quarter of fiscal year 2019 by about $34 million.1 First quarter net sales details appear in the tables at the end of this press release. •Gross profit was $1.34 billion, a decrease of 6% compared with last year. •The company repurchased 1.9 million shares for $50 million and ended the first quarter of fiscal year 2019 with 378 million shares outstanding. Click Read More below for additional information.
Amcor Limited and Bemis Company, Inc. announce that regulatory clearance has been received from the US Department of Justice in relation to the combination of the two companies. A condition of this approval is the previously announced sale of certain Amcor assets located in the US to Tekni-Plex, Inc. All antitrust and other regulatory clearances have now been completed, and the final steps towards closing the transaction will now proceed.
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The shareholders of Bergvik Skog AB, a Swedish forest holding company, have finalised the previously announced restructuring of its ownership. Stora Enso’s forest holdings in Sweden will increase to 1.4 million hectares, of which 1.15 million hectares is productive forest land. Prior to the transaction, Stora Enso’s indirect share of Bergvik Skog’s productive forest land was 936 thousand hectares. “I am very pleased that we have successfully finalised the restructuring of Bergvik Skog with the other shareholders. This transaction is a natural next step for us, as we strongly believe in the bioeconomy and want to secure our competitive raw material supply for the long term. The direct ownership gives us better opportunities to further develop sustainable forest management, thus strengthening our competitiveness,” says Stora Enso’s CEO Karl-Henrik Sundström. As part of the transaction, Stora Enso acquires Bergvik Skog Plantor AB nursery and three wind turbine projects. This will further strengthen the Group’s comprehensive offering to forest owners in Sweden and is in line with its commitment to sustainable forestry. Click Read More below for additional information.
AptarGroup, Inc. released its 2018 Corporate Sustainability Report. The 2018 Sustainability Report highlights the robust sustainability initiatives that have been implemented across Aptar’s global operations. As in previous reports, Aptar summarizes various milestones measured and achieved in three key areas of people, planet and product. The 2018 Sustainability Report is based on the Global Sustainability Reporting (GRI) Standards: Core Options, as released in October 2016. In preparing the report, Aptar obtained limited external assurance for absolute energy metrics, carbon emissions and renewable energy purchases. Aptar also responds to the Carbon Disclosure Project (CDP) Investor Climate Change, Supply Chain and Water questionnaires each year. Click Read More below for additional information.
As previously communicated, BillerudKorsnäs has entered into an agreement with all shareholders of Bergvik Skog AB concerning a split of Bergvik Skog AB’s forest assets. The agreement implies that BillerudKorsnäs acquires Bergvik Skog Öst AB, which comprises approximately 350,000 hectares of forest land in Sweden, and in connection to that divests 5 per cent of the shares in Bergvik Skog Väst AB to Stora Enso. All conditions for the transactions have now been fulfilled and the transactions have been completed today the 31 May. The purchase price for Bergvik Skog Öst AB amounts to approximately SEK 6.4 billion on a debt free basis and after reduction of deferred tax, corresponding to approximately SEK 18,000 per hectar of forestland. The net cash effect after the acquisition of Bergvik Skog Öst AB and the transfer of 5 per cent of the shares in Bergvik Skog Väst AB, amounts to SEK 5.4 billion, which is entirely financed by bank loans. Click Read More below for additional information.
National Average Price for Regular Unleaded – Current: $2.825; Month Ago: $2.882; Year Ago: $2.955. National Average Price for Diesel – Current: $3.088; Month Ago: $3.099; Year Ago: $3.212.
American Dollar to Canadian Dollar = 0.737792; American Dollar to Chinese Yuan = 0.144730; American Dollar to Euro = 1.115173; American Dollar to Japanese Yen = 0.009196; American Dollar to Mexican Peso = 0.050930.
The Energy Information Administration on Thursday reported that U.S. crude supplies edged lower by 300,000 barrels for the week ended May 24. Data were delayed by a day because of Monday's Memorial Day holiday. Analysts polled by S&P Global Platts expected a fall of 1.4 million barrels for crude stocks, on average. The American Petroleum Institute on Wednesday reported a decline of 5.3 million barrels, according to sources. The EIA data also revealed that gasoline inventories climbed by 2.2 million barrels, while distillate stockpiles fell by 1.6 million barrels last week. Click Read More below for additional information.