Net sales in the quarter were $1.51 billion, down $170.8 million or 10.2% from the second quarter of 2018, including a $110.9 million impact from business dispositions, primarily the July 2018 disposition of the Print Logistics business, and a $17.5 million reduction due to changes in foreign exchange rates. On an organic basis, consolidated net sales decreased 2.5% driven by lower volume in the Business Services segment, which includes reductions in Commercial Print products due to the continued exit of unprofitable business, as well as a decline in the remaining non-print logistics business, partially offset by volume growth in Packaging. The Marketing Solutions segment grew 2.6% organically driven by higher volume in the Digital Print and Fulfillment and Direct Marketing products. Income from operations was $20.9 million in the second quarter compared to $25.5 million in the second quarter of 2018. Loss per share attributable to common stockholders was ($0.10) in the second quarter of 2019 compared to diluted loss per share of ($0.18) in the second quarter of 2018.
Net sales decreased 1.2% during the second quarter of 2019 to $1 billion. Organic sales declined 2.4%, after excluding sales related to the January 2019 acquisition of Periscope. The organic results reflect ongoing print industry volume and pricing pressures, and a negative impact from foreign exchange, partially offset by new revenue generated from the Company’s Quad 3.0 growth strategy and an increase in paper sales. Net loss attributable to Quad common shareholders during the second quarter of 2019 was $14.8 million, or $0.30 diluted loss per share, as compared to earnings of $9.4 million, or $0.18 diluted earnings per share in 2018. Net sales increased 1.3% during the six months ended June 30, 2019, to $2 billion, primarily from the impact of the Ivie and Periscope acquisitions and the investment in Rise. Organic sales declined 1.5% after excluding acquisition sales impact of 2.8%.
Coloredge, Inc. headquartered in New York, and Primary Color Systems, Inc. headquartered in Cypress, Calif. — two Visual Marketing Solutions companies — have announced the execution of a non-binding letter of intent which contemplates a combination of the two businesses, subject to board approval. The combination of these two companies would create a market leading national platform producing visual marketing solutions for some of the world's most influential and respected brands. Once completed, this transaction would create a company with manufacturing locations in New York; Carlstadt, N.J.; Cypress, Cailf.; Hollywood, Calif.; Atlanta, Ga.; Shanghai; and Beijing, with a combined team of more than 600 members.
What does life without print look like? That is the question answered in a new video released by Minuteman Press International, the world's leading design, marketing, and printing franchise. The video takes viewers on a journey of a typical day – waking up in the morning, driving to work, spending time at the office, ordering lunch, and coming home – and demonstrates just how different life would be without print. “No matter where we go, print is everywhere,” says Nick Titus, VP Marketing, Minuteman Press International. “The focus of this video is to raise awareness and remind people that print and marketing is literally all around us. Life without print simply just wouldn’t be the same and in fact, it would be extremely difficult.” Check out the Life Without Print video on the Minuteman Press Franchise Review YouTube channel at https://youtu.be/_PDbTMzvohg
Amazon.com, Inc. announced plans to open its 15th Pennsylvanian operations facility in Pittsburgh, creating more than 800 new, full-time jobs starting at $15 an hour with comprehensive benefits and opportunities in an industry-leading workplace. Pennsylvania is a great state for business and Amazon is excited to continue its growth and investment with our newest fulfillment center in Allegheny County,” said Alicia Boler Davis, vice president of global customer fulfillment, Amazon. “For nearly a decade, the Keystone state has been key to Amazon’s ability to serve our incredible customers and provide great selection and super-fast shipping speeds across the Northeast and Midwest regions of the U.S. Since 2010, the company has invested more than $8.5 billion in the state through its local fulfillment center and cloud infrastructure, research facilities, and compensation to thousands of employees. We are excited to create more than 800 new full-time jobs, in addition to the 10,000 current employees across the state, who receive industry-leading pay and benefits starting on day one.”
Oil prices rose for a fifth day on Wednesday, supported by a drop in U.S. inventories and investor expectations that the U.S. Federal Reserve will lower borrowing costs for the first time since the financial crisis more than a decade ago. Oil stockpiles fell again last week, along with gasoline and distillate inventories, data from the American Petroleum Institute industry group showed on Tuesday.
Specialty retailer Urban Outfitters is officially a member of the rapidly-expanding apparel rental club. Initially announced in May, Urban Outfitters’ monthly apparel rental subscription service known as Nuuly went live on July 30. For $88 a month, consumers can select any six items from the retailer’s namesake, Free People and Anthropologie brands, along with third-party labels and one-of-a-kind vintage pieces. The company is managing the online rental process with a custom-built digital platform. A dedicated warehouse and fulfillment center outside Philadelphia houses state-of-the-art laundry equipment operated by veteran laundry technicians.
This year marks the 55th annual National Leadership and Skills Conference (NLSC), a week-long event held by SkillsUSA to showcase a multitude of talents displayed by technical education students, teachers and business partners . There are dozens of workshops, educational sessions, and highly anticipated competitions in which students get a chance to prove their expertise in different trades that can range from electronics to culinary arts. SkillsUSA is a community of teachers, students and industry workers working toward a common goal of a more skilled workforce. Every year, SkillsUSA serves more than 360,000 students—including over 20,000 instructors who join as professional members. SkillsUSA combines personal, workplace and technical skills grounded in academics to provide a balanced framework for a rewarding future career. In response to this transformation of the manufacturing world, Georgia-Pacific has partnered with SkillsUSA and provided $25,000 in wood products directly from GP's Building Products division to use in the SkillsUSA competition.
With the endorsement of IFCC’s sustainable community forest management certification, PEFC forest certification is now more accessible for Indonesia’s community forest management. The system was developed by the Indonesian Forest Certification Cooperation (IFCC), our national member for Indonesia, in collaboration with local communities, and supported by the 2015 PEFC Collaboration Fund. “It is fantastic to see that our Collaboration Fund has paved the way to forest certification for Indonesia’s small- and family forest owners,” said Ben Gunneberg, CEO of PEFC International. "As of 1 June 2019, Indonesia has a total of 3.09 million hectares of forests managed by 679,467 households included in the Social Forestry program,” said Dradjad Wibowo, Chairman of IFCC.
Retailers know the world of ecommerce is cutthroat and highly competitive. Online, a company’s reputation is only as good as its last delivery, and even a small error in service can quickly erode brand loyalty and retention. Still, the stakes are much higher for prescription drug providers, including pharmacy benefit managers (PBMs). In the US, PBMs are third-party administrators of prescription drug programs for commercial health plans, self-insured employer plans, Medicare Part D plans, and government employee plans. Their customers’ health and well-being often depend on accurate, on-time orders. For patients, the benefits of using PBMs are clear. According to research compiled by the Pharmaceutical Care Management Association, home delivery of medications will save consumers, employers and other payers $59.6 billion over 10 years, mostly due to PBMs’ large purchasing power and ability to negotiate lower prices.