Holmen Iggesund launches Inverform PET 30, a 30 gsm version of its popular ready-made meal trays. This unique product will help customers lower their climate impact substantially. Compared to the 40 gsm version, the reduction is more than 25%. Food trays made from combined paperboard and PET coatings offer better recyclability than trays made entirely with fossil-based materials. And as well as having a fat and moisture barrier, the PET coating ensures extreme temperature resistance. This makes it ideal for trays that are placed into microwave or conventional ovens with ready-made chilled and frozen food.
Costco Wholesale Corporation reported net sales of $18.42 billion for the retail month of August, the four weeks ended August 27, 2023, an increase of 5.0 percent from $17.55 billion last year. For the first 52 weeks of its 53-week fiscal year ended August 27, 2023, the Company reported net sales of $232.95 billion, an increase of 4.6 percent from $222.70 billion during the similar period last year.
Any seasoned direct marketer the importance of understanding the numbers side of the business. You have to know both the left-brain (analytic) and right-brain (creative) rules for maximum success. My philosophy is “know the rules before you break them.” People often ask me for the most important direct marketing metrics. As we have evolved to a wider use of selling channels (Websites, e-mail campaigns, search engines, in-store selling), do the tried-and-true tenets of catalog marketing still hold up? see more at: https://www.jschmid.com/blog/5-crucial-omnichannel-metrics/
An alarming new study on click fraud should sober up both publishers and advertisers. Large percentages of clicks qualified as invalid traffic (IVT) in June 2023, according to Q2 2023 Global Click Fraud Benchmarks, a study by Pixalate. For starters, there was a 17% invalid click rate for all open programmatic advertising across desktop web, mobile web, and mobile in-app in June. In addition, there was a 21% invalid click rate for desktop web open programmatic advertising, a 16% invalid click rate for mobile web open programmatic ads and 13% invalid click rate for mobile app open programmatic ads. However, the 729x90 Leaderboard ad size drove an invalid click rate of 26% on mobile apps, twice that of the total mobile app invalid click average (13%). Moreover, 20% of all invalid clicks on mobile apps are now generated by click farms, the study says.
CherryRoad Media, which has been quietly acquiring newsrooms around the country, has purchased Gannett Co.’s printing operations in Hutchinson, Kansas. Gannett will still own The Hutchinson News, and that local paper will continue being printed at the Hutchinson plant. “We are pleased to have reached this agreement with CherryRoad Media,” says Doug Horne, chief financial officer at Gannett. “This transaction ensures we continue our mission of providing essential, trusted journalism to the community and that our experienced team at the Hutchinson facility will continue their good work, bringing local news to our audiences.”
Greif, Inc. announced it has acquired 51% of the ownership interest in ColePak, LLC in an all-cash transaction funded through Greif's existing credit facility. ColePak is the second largest supplier of paper partitions in North America and has a compelling future growth path in that unique product niche. As partners, ColePak adds a completely new product offering to the Greif paper converting portfolio, which provides integration to the Greif mill system in both containerboard and URB grades. Additionally, the ColePak margin profile is immediately accretive to the Greif portfolio. A shared set of company values, a growth-oriented business profile, and exposure to stable and growing food and beverage end markets all further highlight the strong strategic fit, which closely reflects the growth priorities we outlined at our Investor Day in 2022.
American Eagle Paper Mills® is pleased to announce that we are adding 11 x 17 to our 20# Eagle Color 30 cut size portfolio. Our five select colors include canary, green, blue, pink, and ivory and are available for immediate shipment. As with all our products these can assort with other Eagle grades for truckload delivery. The minimum order quantity of any Eagle cut size item remains one pallet. As always Eagle Color® 30 continues to build on our portfolio of recycled alternatives: 30% recycled, FSC certified, and Elemental Chlorine Free.
Ahlstrom is further extending its range of release papers by introducing new products supporting sustainability and circularity in manufacturing Pressure Sensitive Adhesive (PSA) laminates and labels. Ahlstrom strives to develop sustainable products, support the transition to more renewable, bio-based materials, and enable more efficient use of resources. In line with these targets, Ahlstrom is extending its Acti-V® range of high-performance label release liners with new products offering novel options to sustainability-driven laminators, label printers, and end-users, thanks to the use of post-consumer recycled fibers and unbleached cellulose fibers: *Acti-V® RF Yellow is a supercalendered release paper including at least 15% post-consumer recycled fiber, featuring the typical light-yellow color of paper liners that carry most PSA paper labels in Europe. *Acti-V® RF Natural is a supercalendered release paper featuring a light creamy color, naturally resulting from the blend of at least 15% post-consumer recycled fiber and unbleached and bleached cellulose fibers.
The United States Court of Appeals for the District of Columbia ruled today in favor of Valancourt Books, a small Virginia publisher and AAP member company, in an important copyright case that rejects the Government’s argument that depositing books with the Library of Congress without compensation and under threat of substantial penalties is a condition of copyright protection. In reversing the lower court, the Appeals Court also rejected the Government’s position that abandoning one’s copyrights within the current legal framework is a viable alternative to avoiding the deposit requirement. The opinion found “mandatory deposit” (section 407 of the Copyright Act) unconstitutional as applied to physical books. In the case, the Library made repeated demands for copies of Valancourt titles under the pain of fines despite Valancourt’s objections that they would be costly to provide. The Court did not address the publisher’s First Amendment claim because it was unnecessary to do so. AAP’s amicus curiae brief in support of Valancourt was cited in the opinion.
Savvas Learning Company, a K-12 next-generation learning solutions leader, is excited to announce that its myPerspectives English Language Arts program has received the highest rating of “All-Green” from EdReports. myPerspectives is a student-centered, standards-aligned English Language Arts (ELA) program for grades 6-12 that values the perspective of the learner and prepares students to become lifelong readers and writers. “Savvas understands that high-quality ELA instruction should support and challenge students to become critical thinkers,” said Bethlam Forsa, CEO of Savvas Learning Company. “With a diverse collection of literary selections and meaningful learning opportunities to expand and show knowledge, myPerspectives engages students with dynamic reading and writing experiences that help them develop strong literacy skills. We appreciate EdReports for recognizing myPerspectives for its highly successful, evidence-based approach that both inspires students and improves learning outcomes.”
The deadline to give your feedback on the second draft of ST 1004, requirements for certification bodies operating sustainable forest management certification, is just a few days away. This is the second public consultation for this vital benchmark standard, with the first consultation concluding earlier this year. The working group developing the document discussed the feedback received during the first consultation and revised the draft standard accordingly. Now we need to hear from you again. Give your comments, feedback, and suggestions, to help us ensure this standard meets your needs and expectations. The deadline for comments is 5 September 2023.
Amcor announced the North American launch of curbside-recyclable AmFiber™ Performance Paper packaging, part of the company’s AmFiber portfolio. Prequalified by How2Recycle®, performance paper meets the repulpability standards for curbside recycling, allowing brands to provide consumers with more sustainable end-of-life outcomes for packaging. Paper-based packaging alternatives employ innovative technologies to deliver the right barrier, shelf-life, and machine performance to meet brand and product needs. Consumers often seek paper-based packaging to deliver a more sustainable end-of-life, due to widespread curbside paper collection and recycling. And on the shelf, paper-based solutions meet consumers’ preferences for a natural look and feel.
There are many times that a flat design element causes a mailing to go at a higher rate of postage. This can be frustrating as well as expensive. In order to help you stay away from potential issues here are some things to keep in mind as you are preparing a flat size direct mail campaign. USPS Flats: 1. Flat sized mail is between 126 x 11.51 to 12 x 15. 2. Paper stock must be a minimum of .009 thick. The maximum thickness is ¾ inch for the whole mailer. 3. No aspect ratio requirement. 4. Flats are required to have address blocks in the upper half of the short edge. 5. The fold or binding must be to the right of the mail panel. 6. No tabs are required. 7. If you use a poly bag/envelope the maximum extra space you can have inside the bag from the edge of the piece to the edge of the bag is 0.5.
UPM Raflatac is extending the scope of its CarbonNeutral® certified labeling materials to cover the entire lifecycle emissions of a label. This allows its customers to offer their printed and converted labels as CarbonNeutral® product certified. The development builds on UPM Raflatac's Life Cycle Assessment service, Label Life, which recently received a new certificate of validity from leading international assurance service provider, DEKRA. UPM Raflatac’s CarbonNeutral® certified products include the linerless label range with solutions designed for all direct thermal linerless main end uses, including hospitality, e-commerce and logistics, and grocery retail. The CarbonNeutral® certified products also include pressure-sensitive labels in the lower-carbon range RAFNXT+ designed for a variety of labels used in food, logistics, and home care packaging.
R.R. Donnelley & Sons Company (RRD), a leading global provider of marketing, packaging, print, and supply chain solutions, highlights the impact of continued eCommerce growth based on its 2023 (Un)Packaging Reality Report. Sixty percent of RRD’s survey respondents reported continued upticks in eCommerce orders through 2022, and of those, 62% said they are working to level-set expectations for inventory due to over-corrections on COVID-19-related shortages. Findings also suggest brands are giving similar attention to packaging design for online and in-person retail. Survey respondents represented packaging and labels decision-makers from a wide range of different product categories. The top categories seeing upticks in eCommerce orders were center aisle food brands (77%), personal care and cosmetics brands (72%) and household products (68%). Across all categories, 92% of affected respondents reported an increase in packaging needs and 86% saw an increase in labeling needs over the past year. However, respondents from the appliances and durable goods category seemed uniquely impacted. While 64% of packaging and label decision-makers in this category reported a rise in eCommerce orders, 98% reported increased packaging needs tied to eCommerce activity.
Invalid traffic (IVT) in open programmatic advertising averaged 17% globally across the desktop web, mobile web and mobile apps in this year’s second quarter, according to the latest report from fraud prevention/analytics firm Pixalate. The desktop web had the highest average IVT rate, at 21%, followed by the mobile web at 16% and mobile apps at 13%. Overall, 57% of invalid clicks were generated by click farms and datacenter IVT. On mobile apps, 20% of all invalid clicks were generated by click farms.
Publishers who still mail print editions to subscribers are facing challenges on at least a couple of fronts. For one, new statistics released by the U.S Postal Service show that 86.1% of Periodicals were delivered on time against the USPS service standard in Q4, a decrease of 2.8% from the prior quarter. In contrast, 91.4% of first class mail was delivered on time, a 1.2% decrease, and marketing mail held steady with a 95.2% on-time delivery rate. This may or may not have any real impact. But in a related development, U.S. Senator Amy Klobuchar (D-MN) is speaking out against recent postal policy changes that she says are hurting local and rural newspapers.
Two Sides is excited to announce its newest member, the Sheet Plant Association (SPA), the UK trade association that promotes the interests of the corrugated sheet plant sector. The SPA co-ordinates and pursues matters affecting the co rrugated packaging industry, the Sheet Plant sector and the wider paper industry. It co-operates with associations having similar aims and objectives, not only in the UK, but also in Europe and the USA. “The SPA is delighted to become a member and support Two Sides. We provide a forum for members involved in the corrugated cardboard sheet plant industry to meet and discuss matters of common interest in the sector. One important topic on our minds is sustainability. We want our customers, brands and retailers to be aware of the sustainable attributes of our products and that our industry is committed to be part of the circular economy. Our partnership with Two Sides will allow us to use a variety of facts and stats to help us do just that.” says Tim Gray, Chairman of the UK Sheet Plant Association.
Diversified Labeling Solutions (DLS), a national converter of pressure-sensitive labels, has added a new Mark Andy Rotoflex DLI 500 series semi-rotary die cutter to its nationwide fleet. Installed in DLS’ Itasca, IL headquarters, the new Rotoflex is part of the company’s ongoing focus on updating and modernizing its fleet of label conversion equipment. The Rotoflex DLI is a top-of-the-line die cutting platform. It is designed with efficiency and accuracy in mind, offering high-speed precision, quality control and flexibility. By investing in this state-of-the-art technology, DLS solidifies its position as a leader in the label industry. The upgraded die cutter not only enhances production capabilities but also demonstrates the company's commitment to staying ahead of the curve and adopting the latest advancements in printing technology.
Largest producer and exporter of packaging paper and sustainable paper packaging solutions in Brazil, and the only one in the country to offer short, long and fluff fiber pulp to the market, Klabin received approval for its use in Blue Angel products – the world's first environmental label, linked to the German Ministry of the Environment and the RAL gGmbH as competent bodies. Created in 1978, the seal takes a holistic view of a product's life cycle in order to assess its sustainability. The German agency approved the PineFluff line, Klabin's fluff cellulose, for use in products that are already or may be certified by Blue Angel, such as children's diapers, adult diapers and feminine sanitary pads. PineFluff's production was designed to provide the stability, homogeneity and quality that the segment of absorbent products requires. Among its properties are low defiber energy, high absorption capacity and speed, liquid retention and uniformity. Alexandre Nicolini, director of Klabin's Pulp Business, reinforces that the adoption of sustainable processes in production is extremely important, as well as the search for partners that endorse the work carried out. “Our Company is committed to offering the market innovative solutions that add productivity and sustainability. Blue Angel attests that the product's lifecycle has less impact on the environment,” he explains.
FY23 fourth quarter service performance scores covering July 1 through August 18, included: *First-Class Mail: 91.4 percent of First-Class Mail delivered on time against the USPS service standard, a decrease of 1.2 percentage points from the fiscal third quarter. *Marketing Mail: 95.2 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 86.1 percent of Periodicals delivered on time against the USPS service standard, a decrease of 2.8 percentage points from the fiscal third quarter.
Metsä Group plans to boost biodiversity on its land areas in Kemi. Covering more than 650 hectares, the designated site encompasses Metsä Group’s mill area and other areas in the Kemi urban environment. Metsä Group’s operations in Kemi include a bioproduct mill, currently under construction, and a paperboard mill. The company aims to increase regional biodiversity at all its mill locations across Europe, which number more than 20. The goal is to modify land use on the Metsä Group Kemi site to improve the state of nature in the industrial environment. The special features of local nature will be taken into account in the project, and the living conditions of endangered species will be improved. Biodiversity in the area will be increased experimentally and by adopting new operating methods. For example, more than 12 hectares of meadows and sunlit habitats will be added to the Kemi mill area. Only local vegetation will be used in establishing open habitats, and these habitats will be made suitable for endangered species. Various other approaches to increasing the biodiversity of industrial environments will also be tested on the mill site.
*Net sales of $3.55 billion, down 8% compared to last year, inclusive of an estimated 1-point foreign exchange headwind and 2 percentage points of negative impact from the sale of Gap China. - Comparable sales were down 6%. *Gross margin of 37.6% increased 310 basis points versus last year's reported gross margin and increased 160 basis points versus last year's adjusted gross margin which excluded $58 million in inventory impairment charges. *Reported operating income was $106 million; reported operating margin of 3.0%. *The effective tax rate was negative 8.3%. During the quarter, the company recorded a tax benefit as a result of a transfer pricing settlement related to its sourcing activities. *Reported net income of $117 million; reported diluted earnings per share of $0.32.
*Net sales increased 10.1% to $2.5 billion compared to $2.3 billion in the second quarter of fiscal 2022 primarily due to increased comparable sales, strong new store performance, and growth in other revenue. *Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 8.0% compared to an increase of 14.4% in the second quarter of fiscal 2022, driven by a 9.0% increase in transactions and a 1.0% decrease in average ticket. *Gross profit increased 7.1% to $993.6 million compared to $928.2 million in the second quarter of fiscal 2022. As a percentage of net sales, gross profit decreased to 39.3% compared to 40.4% in the second quarter of fiscal 2022, primarily due to lower merchandise margin, higher inventory shrink, and higher supply chain costs, partially offset by strong growth in other revenue and leverage of store fixed costs. *Operating income increased to $391.6 million, or 15.5% of net sales, compared to $391.4 million, or 17.0% of net sales. *Net income increased to $300.1 million compared to $295.7 million.
For the second quarter ended July 29, 2023, net sales decreased 8.3 percent versus the same period in fiscal 2022, compared to a decrease of 11.6 percent in the first quarter, reflecting sequential improvement in sales at both Nordstrom and Nordstrom Rack. Gross merchandise value ("GMV") decreased 8.5 percent. Second quarter net sales include a 275 basis point negative impact from the wind-down of Canadian operations. Anniversary Sale timing, with one week shifting from the second quarter to the third quarter, had a negative impact of approximately 200 basis points on net sales compared with 2022. Excluding the impacts of the Canadian wind-down and Anniversary Sale timing shift, net sales would have been down approximately 4 percent. During the quarter, Nordstrom banner net sales decreased 10.1 percent and GMV decreased 10.4 percent. Net sales for Nordstrom Rack decreased 4.1 percent.
Following its acquisition of NWEA earlier this year, learning technology company HMH today announced an important first step for the combined organization. NWEA’s flagship assessment MAP Growth will now be used for automatic placement into HMH’s best-in-class connected solutions Read 180, Math 180 and Waggle to further enhance personalized learning. Customers using NWEA MAP Growth with HMH Waggle will benefit from placement into Waggle’s CODiE-award winning gamified personalized learning. The Read 180 and Math 180 student applications, trusted and effective intervention programs built on decades of research, will use MAP Growth data to place students into Tier 2 and Tier 3 intervention. This offers educators a powerful new option to deepen student learning through more targeted placement based on refined data.
American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 0.8% in July after falling 0.3% in June. In July, the index equaled 112.9 (2015=100) compared with 113.8 in June. June’s increase was revised lower from our July 18 press release. Compared with July 2022, the SA index fell 3%, which was the fifth straight year-over-year decrease. In June, the index was down 3.2% from a year earlier.
JICMAIL’s diary-based data captured from a panel of one thousand households every month reveals that in Q2 2023: *Mail continued to prove its value as a commercially effective marketing channel for advertisers with 9% growth year on year in the proportion of mail items prompting commercial actions among consumers, up to a level of 30.5%. *Mail proved its effectiveness at all stages of the customer journey: from driving brand discovery through brand discussions (up to 16% of mail in Q2 2023 from 14% in Q2 2022); to customer engagement through website visits (8% of mail); through to purchase fulfillment (up to 5% from 4% last year). *Given the continued challenges that the UK high-street faces in the cost-of-living crisis, it was noteworthy that mail recorded a 30% increase in effectiveness at driving consumer footfall in store.
Ahlstrom has entered into an agreement to divest its Stenay plant in France to Accursia Capital, following the announcement of Accursia Capital’s binding offer in July. The divestment was confirmed after receiving endorsement from the site’s employee representatives. The transaction is expected to be completed by the end of September. "We are delighted to announce this positive outcome for the future of our Stenay plant, its employees and the community of Stenay. This would not have been possible without the role of our team on site and the collaboration of all stakeholders. A new chapter in the plant's history starts now with Accursia Capital,” says Mark Ushpol, EVP, Food and Consumer Packaging division. "This acquisition is part of a long-term investment strategy aimed at making Stenay a leading player in the highly competitive paper-based packaging market. We therefore look forward to developing the business of the Stenay site in collaboration with the employees," says Martin Scheiblegger, Managing Director of Accursia Capital.
National Average Price for Regular Unleaded Current: $3.828; Month Ago: $3.636; Year Ago: $3.878. National Average Price for Diesel Current: $4.360; Month Ago: $3.900; Year Ago: $4.989.
American Dollar to Canadian Dollar = 0.736377; American Dollar to Chinese Yuan = 0.137214; American Dollar to Euro = 1.080292; American Dollar to Japanese Yen = 0.006849; American Dollar to Mexican Peso = 0.059614.
DIC Corporation has launched HYDRAN™ GP series of environment-friendly waterborne polyurethane resins. These new resins have a higher solid content than conventional water-based polyurethane resins and contain no amines, helping customers to shorten process times and lessen odors, as well as to reduce greenhouse gas emissions and volatile organic compounds (VOCs). These resins deliver an outstanding performance that is comparable to that of solvent-based products, previously seen as difficult for waterborne polyurethane resins. The HYDRAN™ GP series is available globally and is suitable for a range of applications including artificial leather, coatings and adhesives.
Sustainable, paper-based frozen food packaging is now a reality! Ahlstrom and The Paper People LLC have codeveloped and launched an innovative and sustainable solution for frozen food packaging. This new line of fully fiber-based, recyclability-certified packaging is specifically designed to replace traditional fossil-based plastic and films for frozen food packaging. “This new package is designed to be used on existing packaging equipment including vertical form-fill-seal, stand-up pouches and SOS style systems,” said Neil Bretl, President for The Paper People. “The package can also be used in flow wrap and bundle wrap applications. We worked diligently to ensure these materials could easily replace traditional non-renewable substrates on existing equipment.”
Following the rockslide and subsequent production stop at Saugbrugs PM6 (paper machine 6) in April this year, Norske Skog has decided to restart production at the previously idled PM5. The restart of PM5 allows Norske Skog to continue supplying SC magazine paper to its customers and keep its market position. “The decision to restart production at PM5 is important to maintain Saugbrugs as a preferred supplier of SC paper in Europe, while the restoration work is ongoing at the PM6 plant,” says Per Ivar Berg, Managing Director at Norske Skog Saugbrugs. The business interruption at PM6 is covered by insurance. Cash flows relating to the restart and production from PM5 will be netted against the insurance coverage, thus the financial impact for Norske Skog Saugbrugs will be largely neutral. Prior to being idled in late 2020, PM5 had a production capacity of up to 100 000 tonnes of SC magazine paper. Saugbrugs PM6 has a capacity of 260 000 tonnes SC magazine paper. Operations at Saugbrugs PM4 continue with its capacity of 100 000 tonnes of SC paper.
UPM Raflatac, a global supplier of innovative and more sustainable self-adhesive paper and film products, has received a new certificate of validity from leading international assurance service provider, DEKRA, for its Label Life service. This new certificate confers validity to the LCA calculation engine and the whole process of generating LCAs at scale. As a result, customers wanting to communicate their potential impact in the labeling value chain can now do so with increased assurance. With the EU in the process of developing a ‘digital product passport’ (DPP) that will be issued for all products on the market, UPM Raflatac decided to be a step ahead of the legislative requirements. The company has designed its product passport prototype (PPP), an environmental declaration, based on existing standards and norms. Generated by the newly validated Label Life service, the product passport prototype enables UPM Raflatac’s customers and brands to communicate their labeling’s potential environmental impact. It includes a wide range of metrics that are broken down into life cycle stages: cradle-to-gate, transport-to-customer, printing, and end of life.
On August 16, OPI published on its opinion page a piece titled “The Sustainable Argument for Going Paperless” in which an executive from DocuWare, a document management and workflow software company, asserted with no factual evidence that electronic communication and document management are more environmentally sustainable than using paper. Among other claims, he wrote: “Reducing paper usage offers significant environmental benefits, such as leaving a lighter environmental footprint by conserving forests. Forest loss harms wildlife and increases soil erosion. Meanwhile, paper production, which also relies on chemicals and water – emits greenhouse gas emissions.” Is going digital really more environmentally sustainable than using paper? Your readers were recently warned (“The sustainable argument for going paperless,” August 16, Benedikt Dischinger) that there is a “Code Red for Humanity” caused by human-caused climate change, and that one response to this legitimate threat to the future of humankind is…use less paper. What Mr. Dischinger wants us to believe is that we should toss overboard the only form of communication rooted in a truly circular paper industry that relies on biobased energy, an infinitely renewable resource and some of the highest recycling rates in favor of more electronic communication, which is rooted in an industry that scours the planet for finite rare earths and other diminishing resources, relies almost exclusively on fossil fuels to meet its increasingly greedy demands for energy, and features embarrassing recycling rates.
Total Company net sales for the three months ended July 31, 2023, increased 7.5% to a record $1.27 billion. Total Retail segment net sales increased 5.9%, with comparable Retail segment net sales increasing 4.9%. The increase in Retail segment comparable net sales was driven by mid-single-digit positive growth in both retail store sales and digital channel sales. By brand, comparable Retail segment net sales increased 26.9% at the Free People Group and 10.6% at the Anthropologie Group and decreased 14.1% at Urban Outfitters. Wholesale segment net sales decreased 5.2% driven by a 6.5% decrease in Free People Group wholesale sales due to a decrease in sales to department stores, while Urban Outfitters wholesale sales increased by $0.5 million. Nuuly segment net sales increased by $27.0 million driven by an 85% increase in our subscribers versus the end of the prior year’s comparable quarter.
Second Quarter 2023 Results *Net sales decreased 4.8% year-over-year, to $3.7 billion, with comparable sales down 5.0%. *Gross margin as a percentage of net sales was 39.0%, a decrease of 61 basis points. *Selling, general & administrative (SG&A) expenses increased 1.6% year-over-year, to $1.3 billion. *Operating income was $163 million compared to $266 million in the prior year. *Net income was $58 million. This compares to net income of $143 million. *Inventory was $3.5 billion, a decrease of 14% year-over-year. *Operating cash flow was $430 million.
Total revenues across all categories for June 2023 were down 1.3% as compared to June 2022, coming in at $890.0 million. Year-to-date revenues were up 1.2%, at $5.6 billion for the first half of the year. Trade (Consumer Books) revenues were down 0.9% in June, coming in at $633.5 million. In terms of physical paper format revenues during the month of June, in the Trade (Consumer Books) category, Hardback revenues were up 5.8%, coming in at $191.2 million; Paperbacks were down 3.0%, with $246.0 million in revenue; Mass Market was down 39.1% to $13.0 million; and Special Bindings were up 2.5%, with $11.1 million in revenue.
Aptar Closures has been the industry leader in providing flow control dispensing solutions for more than 25 years. Its award-winning SimpliCycle recyclable valve is driving sustainability to the forefront of packaging innovation, and in September 2022, RecyClass confirmed its full compatibility with polypropylene (PP), polyethylene terephthalate (PET) and high-density polyethylene (HDPE) recycling streams. RecyClass is a non-profit, cross-industry initiative facilitating the transition toward a circular plastic economy in Europe. The organization published Design for Recycling Guidelines and, in partnership with independent laboratories, evaluates a variety of products to assess their ability to be recycled. The RecyClass approval provides brands with confirmation that Aptar closures featuring the SimpliCycle valve can directly contribute toward their full packaging recyclability goals. As a result, this summer, SimpliCycle has launched in a variety of dispensing closures with brands in several consumer end markets in Europe.
Worzalla, an employee-owned book printing company, collected school supplies to contribute to Project Fresh Start, a United Way of Portage County program. Worzalla associates donated to the program to help provide free school supplies to over 3,000 fourth to twelfth-graders in Portage County who qualify for free and reduced lunch through their school district. “The United Way of Portage County’s school supply drive gives organizations like Worzalla the opportunity to address current community needs,” said Brianne Petruzalek, Vice President of Human Resources at Worzalla. “With school supply expenses increasing this year, families will get the support they need through this year’s Project Fresh Start.” Along with the school supplies collected and donated by Worzalla associates, Worzalla also purchased and donated 5,000 pencils and 20 backpacks to Project Fresh Start. Other donated items include pencils, notebooks, folders, markers, and more.
TC Transcontinental Packaging, the Packaging Sector of TC Transcontinental, announces an investment of $60M US (approximately $80M CAD) toward the development of cutting-edge mono-material recyclable flexible plastic packaging solutions, providing high-performance polyethylene films with more heat resistance. In addition to a new innovative film line that will produce biaxially oriented polyethylene (BOPE), a first in North America, the investment includes ancillary equipment and a 120,000 sq. ft building expansion in TC Transcontinental Packaging’s Spartanburg, South Carolina facility. “This new offering will be a game changer in TC Transcontinental's recyclability journey, demonstrating our commitment to distinguish ourselves and gain market share with innovative sustainable solutions for our customers,” said Thomas Morin, President and CEO of TC Transcontinental. “Our offering aligns with our customers’ desire to accelerate speed to market with recyclable products that also protect and preserve their contents throughout their lifecycle, in addition to creating a more circular economy for plastic.”
As the new academic year begins, about 60% of students may go back to school without supplies in hand. For some families and teachers in lower-income communities, the cost of school supplies can cause significant stress and limit student achievement. Domtar is committed to investing in relationships throughout communities – with our customers, with our neighbors, and with our schools. And each year, we invest in teachers’ and students’ needs alongside customers such as ODP Corporation and organizations like Classroom Central during back-to-school season. Domtar is a longtime vendor partner of The ODP Corporation’s StartProud!® back to school program, which supports students and teachers at nearly 30 Title I elementary schools with school supplies and needed equipment.
As part of its human-centered approach to AI in K-12 education, learning technology company HMH today announced new OpenAI-powered integrations within Writable, its award-winning writing practice and assessment solution for grades 3-12. Within HMH’s connected literacy solution, Writable’s new GenAI capabilities increase the impact teachers can have by engaging more students with targeted feedback and motivating better writing in the moment. This approach to AI is teacher-guided, allowing teachers to incorporate AI-suggested feedback and scores into their instruction. This saves valuable time teachers can use to invest in student connections. “At HMH, we believe technology should be applied with purpose to deepen the human connections that accelerate learning outcomes,” says Jack Lynch, CEO at HMH. “Today’s announcement represents a thoughtful step forward in the transformative journey of using generative AI to enhance student learning and give teachers time back to do what only they can do, which is really connect with their students on a human level.”
Macy's announced the locations of four new small-format stores scheduled to open in fall 2023. These openings mark the first expansion of its small-format locations into the Northeast and Western regions of the United States, with openings in Boston, Las Vegas and San Diego. With small store opening momentum growing in the Midwest, the expansion also sees its third location in the region with the recent opening in Highland, Indiana. The eight previous locations continue to be known as Market by Macy's, whereas the upcoming small-format stores will bear just the iconic Macy's nameplate. Macy’s small format stores are designed to deliver a seamless experience with well-known market brands, Macy’s private brands, convenient services, local events and the latest trends, all within an easy-to-shop environment.
Walsworth President Don Walsworth announced that his son, Tripp Walsworth, will be joining the family company. Tripp Walsworth most recently worked as a Senior Account Manager with Lockton, the world’s largest independent insurance brokerage. Tripp officially started with Walsworth on Aug. 21, joining the company with his father and his grandfather, CEO Don O. Walsworth. “I can’t wait to get going at Walsworth,” said Tripp Walsworth. “I want to continue the legacy started by my great grandfather and continued by my grandfather and father. The company has grown steadily over the years, and I’m excited to be part of its continued growth.”
September marks a big month for the printer based in Sun Prairie, Wisconsin. Founded in 1948, Royle Printing is pleased to celebrate its 75th anniversary this fall. The entire month will consist of celebrations for all 285 employees, along with a company-wide event at the end of the month. To show its commitment to the city of Sun Prairie, Royle will be hosting a food drive for the Sun Prairie Food Pantry. In addition to a generous donation from the company, the public is welcome to stop by Royle during the week of September 25th to drop off canned goods or non-perishable food items in the lobby. The Royle Family, originally from Waterloo, worked at Perry Printing before starting the company in 1948. Royle started in print by owning several publications, including The Star Countryman, the Waterloo Courier, Deerfield Independent, Dodge County Independent News, and several other entertainment and recreation publications.
The new Polar Grip Air film will initially be made available to purchase in the North American market from August 2023. Drytac, the leading international manufacturer of self-adhesive materials for the large-format print and signage markets, is delighted to announce the launch of its latest product – Polar Grip Air. The latest addition to the incredibly popular Drytac Polar Grip range, Polar Grip Air is a 3.2 mil white polymeric PVC film featuring a high-tack grey adhesive with a bubble-free technology release liner.
Mondi has collaborated with Fressnapf, Europe’s market leader for pet supplies, to switch their packaging to a new range of premium mono-material recyclable solutions using process colour printing technology. Fressnapf | Maxi Zoo’s exclusive brand SELECT GOLD dry pet food range will now be packed in Mondi’s FlexiBag Recyclable, BarrierPack Recyclable and Recyclable StandUp Pouches. These mono-material packaging solutions provide strong barrier properties providing protection from moisture, fat and odour and are strong and flexible to pack and store. As certified by Institute cyclos-HTP, the mono-material packaging is recyclable with other mono-polyethylene (PE) films using various existing recycling streams across Europe, contributing to a circular economy. The adaptability of the packs enabled Fressnapf | Maxi Zoo to design around 150 pet food packaging designs from 300 g to 12 kg. All packaging sizes offer long shelf life and ease of use for consumers.
In an effort to address prevalent supply chain uncertainties and to maintain the commercial viability of its Graphic Paper business, Sappi Europe will keep prices for its Woodfree Coated Paper grades stable at today’s level for the remainder of 2023. This commitment facilitates customers' ability to commit to business in advance of the traditionally busier fourth quarter for the printing industry. Market conditions are similar across the region, but obviously diverge between countries and segments and as such Sappi Europe’s sales personnel is always available for these individual customer specifics. Sappi Europe remains fully committed to serving the printing business and will work closely with our customers to ensure the best possible outcome throughout the print media value chain.
Sustana, a manufacturer of premium, sustainable recycled fiber and paper products, announces the appointment of Aaron Ling to Director of Sustainability. In this role Aaron will be responsible for driving the implementation of Sustana’s ESG initiatives and supporting the development of the group’s sustainability strategy. Aaron holds a bachelor’s degree in electrical engineering from Concordia University and has several accreditations and certifications including Economic Sustainable Project Delivery, Decision Analysis Training and is an Accredited Professional from the Green Building Council of Australia. Aaron has 17 years of experience in Corporate Sustainability target setting, reporting and scenario analysis. Aaron has a wealth of international experience having worked in Japan, Canada, Australia, and the United States.
FY23 fourth quarter service performance scores covering July 1 through August 11, included: *First-Class Mail: 91.3 percent of First-Class Mail delivered on time against the USPS service standard, a decrease of 1.3 percentage points from the fiscal third quarter. *Marketing Mail: 95.2 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 85.6 percent of Periodicals delivered on time against the USPS service standard, a decrease of 3.3 percentage points from the fiscal third quarter.
The major ad organizations are urging California lawmakers to reject a bill aimed at enabling residents to easily remove their information from every data broker registered with the state. The California Consumer Privacy Act already allows people to request removal of their information from data brokers, but on a company-by-company basis. The new Delete Act (SB 362), introduced earlier this year by Senator Josh Becker, would require all data brokers in the state to honor an opt-out request made through a single mechanism. “Without data, companies would not be able to deliver critically important products and services consumers benefit from today, sometimes without even being aware of how this data supports their safety and enjoyment of everyday life,” the groups write.
Sylvamo is offering small shareowners a convenient way to own at least 100 shares or sell their holdings. Voluntary sale and purchase programs – often called “odd lot” programs – are periodically offered by public companies to help small shareowners and reduce administrative costs. Shareowners who participate will be assessed a $3.50 processing fee per share purchased or sold, with a maximum fee of $60 per account. Beginning Monday, Aug. 21, 2023, eligible registered shareowners are being informed by mail and will be able to participate through Friday, Sept. 22, 2023, subject to early termination or extension of the program.
Tronox Holdings plc, the world’s leading integrated manufacturer of titanium dioxide pigment, announced the closing of its $350 million incremental term loan under the Company’s existing credit agreement, the proceeds of which are expected to be used to repay outstanding borrowings under the Company’s existing revolving credit facilities and enhance available liquidity for upcoming capital expenditures.
Omnichannel Marketing Part 9: A Powerful Human Narrative - Garmin’s Women of Adventure campaign has been a bastion of the company’s sports, fitness and outdoor recreation division since it launched over 5 years ago. Recognizing the growing trend of predominantly male customers in their outdoor segment, Garmin launched an initiative focused on engaging the female community, proving that Garmin GPS and wearable tech can support and enhance their outdoor experiences. They started telling stories. Sharing photographs. Documenting adventures. All while inviting the fearless, persistent, and resilient women who live out their passions daily to engage with them across their platforms. By working with everyone from professional athletes to outdoor hobbyists, Garmin has created a space for women to engage with other women, whether they run, ride, sail, or anything in between. It’s a hook built on invitation, inclusivity, and a shared place to explore wide open spaces… together.
Learning technology company HMH today announced the establishment of the Center for Model Schools. Building on the legacy and work of the International Center for Leadership in Education, the Center for Model Schools provides K-12 school systems with ongoing leadership support through its namesake Model Schools Conference, leadership cohorts and shoulder-to-shoulder consulting. “Now more than ever, every student must be part of a school community that enables them to thrive in an increasingly complex world,” said Dr. Joshua P. Starr, Managing Partner, the Center for Model Schools. “I am thrilled to introduce the Center for Model Schools as a place where districts can deepen the skills needed to transform insight into action and create environments where all learners succeed. Every child deserves a Model School, and leaders make that happen.”
Advertising has long been a vector for nefarious actors ranging from organized crime to a variety of other bad actors, but the proliferation of digital media and especially the programmatic advertising marketplace has given rise to increasing opportunities for purveyors of "malvertising" -- digital ads served to unsuspecting users that spread malware, compromise computer systems and harm consumers, publishers and platforms. And while the magnitude has been difficult to benchmark, much less track, weakening advertising marketplace conditions are projected to accelerate the proliferation of malvertising, according to the first of what is planned to be an ongoing series of "threat assessment" reports published for the ad industry by the Trustworthy Accountability Group (TAG).
The American Forest & Paper Association (AF&PA) released the July 2023 Packaging Papers Monthly report. According to the report, total packaging papers & specialty packaging shipments in July remained essentially flat (+0.4%) compared to July 2022. They were down 3% when compared to the same 7 months of 2022. Shipments of the biggest subgrade in unbleached packaging papers — bag & sack — were 89,400 short tons for the month of July, down 1.1% year-to-date. The bleached packaging papers operating rate was 78.0%, up 5.4 points from July 2022 and down 2.2 points year-to-date.
National Average Price for Regular Unleaded Current: $3.873; Month Ago: $3.563; Year Ago: $3.931. National Average Price for Diesel Current: $4.347; Month Ago: $3.856; Year Ago: $4.999.
American Dollar to Canadian Dollar = 0.737437; American Dollar to Chinese Yuan = 0.137407; American Dollar to Euro = 1.086299; American Dollar to Japanese Yen = 0.006878; American Dollar to Mexican Peso = 0.058532.
Australia’s leading tea producer Madura Tea has taken a significant step toward reducing its own impact on the environment: All packaging materials that were previously based on metalized OPP (oriented polypropylene) have been switched to flexible packaging paper. Together with Gundlach Packaging Group and Koehler Paper, Madura Tea has found the ideal packaging paper for its products in the form of “Koehler NexPlus® Seal Pure MOB 72 gsm,” which has a mineral oil barrier and offers protection against MOSH/MOAH. After several promising tests, the products are now available on the Australian market.
Amazon plans to eliminate plastic in its mailer bags as part of an effort to cut down on waste, decarbonize and improve overall sustainability, according to the company’s 2022 sustainability report released this week. It’s also boosting attention to packaging lightweighting and elimination. The company is “phasing out padded bags containing plastics in favor of recyclable alternatives,” the report says. Some of the bags are solely made of plastic while others are a blend of plastic and paper; the mixed materials can present recycling challenges. In the U.S. and Canada last year, the company replaced 99% of padded bags made from a mix of plastic and paper with paper-padded bags that the company says are recyclable.
Second Quarter Highlights • Consolidated revenue of $161.6 billion, up 5.7%, or 5.4% in constant currency (“cc”)1 • Consolidated gross margin rate up 50bps on lapping elevated markdowns and supply chain costs, partially offset by ongoing mix pressure in grocery and health & wellness • Consolidated operating expenses as a percentage of net sales grew 33bps • Consolidated operating income up $0.5 billion, or 6.7%, adjusted operating income up 8.1%
The following is a comment from Maria A. Pallante, President and CEO, Association of American Publishers: “We are extremely pleased that the district court has approved the proposed consent judgment. As we have stated before, it is an appropriately serious bookend to a decisive finding that so called “controlled digital lending” is nothing more than copyright infringement.”
Fiscal 2023 Full Year Highlights • Net sales of $14,694 million, in line with the prior year on a comparable constant currency basis; • GAAP Net Income of $1,048 million; GAAP diluted earnings per share (EPS) of 70.5 cps; • Strong total cash returns to shareholders of $1.2 billion: annual dividend increased to 49.0 cents pershare; $431 million of shares repurchased (approximately 3% of outstanding shares); and • Fiscal 2024 outlook: Adjusted EPS of 67-71 cents per share. Adjusted Free Cash Flow of $850-950million.
High recycling rates are a priority for Domtar—and for our industry partners. We’ve worked together to boost the rate that paper and packaging are recycled throughout the U.S. And it’s working. The pulp and paper industry continues to achieve a high recycling rate for its products, according to newly released data from the American Forest and Paper Association (AF&PA). In 2022, 93.6% of all cardboard boxes and corrugated containers were recycled, an increase from the previous year’s 91.4%. And the paper recycling rate in 2022 was 67.9%, holding nearly steady compared to 68.1% in 2021. We’re doing our part by using recycled cardboard containers at our newly re-started Kingsport Mill, Domtar’s first 100%-recycled manufacturing facility. It produces containerboard to make cardboard boxes.
Billerud is introducing a new organization whereby the company harmonizes and operates its business in two distinct geographical regions - Europe and North America. Billerud further appoints Andrei Krés as acting CFO, effective immediately. Matthew Hirst, previously EVP Commercial, has been appointed President of Billerud Europe and will lead the new European organization consisting of Commercial, Operations and Procurement & Wood Supply functions. Kevin Kuznicki remains President of the North American organization. "I’m pleased that Matthew has taken the position of leading the Europe region, and I’m convinced he will take the region forward on the journey to challenge conventional packaging solutions and create the packaging of tomorrow”, says Ivar Vatne, acting CEO and President of Billerud.
Berry Global Group, Inc. announced that its Board of Directors has unanimously elected Kevin Kwilinski as Chief Executive Officer of Berry, effective October 2, 2023. In connection with this appointment, the Board has elected Stephen Sterrett, Lead Independent Director, as Chairman of the Board, also effective on October 2, 2023. As previously announced in February 2023, Tom Salmon will retire from his roles as CEO and Chairman, and he will remain with the Company through the end of the calendar year in an advisory capacity to ensure a smooth transition. Mr. Kwilinski brings to Berry nearly three decades of experience in the packaging industry and a track record of driving operational excellence, expanding margins and managing complex global operations. He currently serves as President and CEO of Multi-Color Corporation, a global provider of label solutions, where he successfully led and integrated multiple acquisitions, resulting in significant EBITDA and revenue growth while delivering above target commercial and operational synergies.
In an attempt to reduce costs, many banks, utilities, insurers and other service providers are switching consumers from paper to electronic bills and statements, often without their consent, and some are now charging fees to receive paper statements. Others are urging their customers to switch from paper to digital communication because it’s “green” or “better for the environment.” But a recent survey commissioned by Two Sides North America and conducted by international research firm Toluna found that consumers want the freedom to choose how they receive important communications from the companies they do business with. The Two Sides survey showed that 81% of U.S. consumers believe they should have the right to choose how they receive important communications from their service providers, on paper or electronically, and 73% believe they should not be charged more for choosing a paper bill or statement. These percentages increased from 2021 by 78% and 67%, respectively. While using the internet can be a quick and convenient way to transact business, companies that default customers to electronic communication put at risk many Americans who do not have broadband access, cannot afford it or have difficulty using the internet.
Cardboard is one of the most widely recycled materials in the world. This guide will showcase the seven key steps of how cardboard is recycled, showing the journey of cardboard from waste collection, right through to its new life. Recycling cardboard helps protect the environment and saves valuable resources from landfill. Understanding the recycling process is key to ensuring that cardboard is stored and collected correctly, reducing contamination, and helping to enable a circular economy. Our Recycling, Paper and Packaging divisions at DS Smith work together to achieve this every day. Step 1: Cardboard sorting and storage. Step 2: Managing the quality of cardboard at the recycling facility. Step 3: Transportation to paper mills. Step 4: Processing the cardboard bales to pulp. Step 5: Making the paper. Step 6: Creating the paper reels. Step 7: Creating the cardboard.
Worzalla, an employee-owned book printer, partnered with the Boys & Girls Club of Portage County to help local youth celebrate National Book Lovers Day. Worzalla associates and Boys & Girls Club of Portage County members hosted three group reading sessions across three Stevens Point area locations. “National Book Lovers Day gives people an opportunity to celebrate the impact literature has on education and storytelling across the world,” said Rich Letchinger, Vice President of Sales and Chief Marketing Officer at Worzalla. “Worzalla is committed to encouraging reading among community youth and our group reading sessions were a great way to inspire youth to read while sharing and discussing their favorite books.” Worzalla associates read classic stories out loud to 40-plus youth attendees including, Wisconsin author and illustrator Kevin Henkes’ “Chrysanthemum.” In addition, Worzalla’s big blue book mascot Paige Turner distributed free books and greeted youth before and after the reading sessions.
Did you know MIDLAND has been a proud supporter of the American Catalog Mailers Association (ACMA) for well over a decade, as both a member and an active sponsor? With how much of our customers’ catalog budget goes towards paper and postage, we firmly believe it’s the right thing to do. We wanted to provide an update on what the ACMA is currently focusing on and a call to action of how you can choose to help. For those not already familiar with the ACMA, they are a non-profit organization founded in 2007. The ACMA is the only industry association advocating specifically for catalog, online, direct mail, and other remote-selling merchants, as well as their suppliers. In recent years, the ACMA has had successes for the entire industry in postal enhancements, consumer privacy, and remote sales tax. Let’s look at some of the numbers. Our industry has seen five postage rate increases in the past 2.5 years. This is an average compounded increase of 39.6% for catalogs.
News Corp’s fiscal 2023 marked the first year that more than half of its revenue came from digital platforms — marking a “profound transformation” over the last decade, CEO Robert Thomson said in the company’s fiscal Q4 earnings call on Friday. Thomson attributed its current digital momentum to initiatives based in generative AI, which represents “a remarkable opportunity to create a new stream of revenues, while allowing us to reduce costs across the business” through “exponential” efficiencies, he said. A News Corp Australia executive recently revealed that the division has been using generative AI to produce about 3,000 local news items per week, covering topics including weather, traffic and fuel prices.
The New York Times has changed its terms of service to forbid the scraping of its content for use in AI training, reports state. In this update of the terms, the Times prohibits use of “robots, spiders, scripts, service, software or any manual or automatic device, tool, or process designed to data mine or scrape” its content. In general, the Times warns that engaging in a prohibited use of its services may result in “civil, criminal, and/or administrative penalties, fines, or sanctions against the user and those assisting the user.”
Xerox Holdings Corporation announced it has sold Elem Additive Solutions to ADDiTEC, a leader in metal additive manufacturing solutions and applications. The sale to ADDiTEC follows Xerox’s donation of PARC to SRI International and the sale of the Xerox Research Center of Canada to Myant Capital Partners earlier this year, as the company focuses its strategic priorities and investments in innovation on core capabilities and offerings including print, IT and digital services. Since 2019, Xerox has worked to commercialize the Elem Additive technology and bring it to market. The company’s liquid metal 3D printer, ElemX, was developed to be a safer and simpler solution, addressing supply chain resiliency for transportation, aerospace, defense and industrial manufacturing.
For a CEO who saw sales drop 10% and profits fall 45% in the fiscal year ended June 30, 2023, HarperCollins’ Brian Murray sound remarkably calm in an interview with PW looking back over the past 12 months. “It was a challenging year,” Murray acknowledged. “The numbers don’t paint a rosy picture.” But he said he is heartened by the fact he thinks the worst is over. "I'm feeling better about things," he said. For the fiscal year ended in June, revenue dropped to $2.0 billion from $2.19 in fiscal 2022 and EBITDA (earnings before interest, taxes, depreciation, and amortization) fell to $167 million from $306 million a year ago.
The U.S. Postal Service filed notice with the Postal Regulatory Commission (PRC) requesting approval to make certain Mail Classification Schedule (MCS) changes to establish two Mail Growth Incentives - a First-Class Mail Growth Incentive and a Marketing Mail Growth Incentive. If approved, the incentives will run from Jan. 1, 2024 through Dec. 31, 2024. The First-Class Mail and Marketing Mail Growth Incentives are being offered to mail owners to promote volume growth in 2024 and into the future. These two incentives will drive mail owners to increase the volume of First-Class and Marketing mail entering the network while providing them lower overall postage costs on incremental growth — allowing mail owners to maximize total return on investment, by providing additional cost-savings and strengthening the value of mail.
Phoenix Flexibles has one plant located in Gujarat, India, and the business generates annual revenue of approximately US$20 million from the sale of flexible packaging for food, home care and personal care applications. Amcor currently has four flexible packaging plants in India. The business has delivered double-digit organic sales growth per annum over the last three years, significantly outpacing growth in the underlying market, and is also investing to double its local footprint in the Pharmaceutical and Medical packaging categories.
"Strong liners with excellent printability don’t need to be thick and heavy. With 100% virgin fibers and a multi-layer construction, Billerud´s coated liners are so strong that packaging converters can use a lighter base weight which means better packaging performance and runnability at lower costs. This improves their resource efficiency and reduces their carbon footprint throughout the value chain,” says Rolf Gustafsson, Senior Director Product Management Containerboard at Billerud. The Pure Coated Liner portfolio consists of: Pure Supreme: a double-coated white top kraftliner for litho-laminated packaging, suitable for high quality prints as well as effects like lacquer, foil and embossing. Pure Decor: a light-coated white top kraftliner with a smooth surface suited for high quality pre- and post-print flexo- and digital print applications.
Developed in collaboration with Megaflex Schaumstoff, a family-owned manufacturer for flexible foams, mattresses and sleeping products, Protector Bag ExpandForm replaces the current plastic packaging for mattress rollpacking with a flexible and recyclable paper bag solution. The innovative packaging not only helps to reduce plastic waste but also ensures optimal product protection and handling during the transportation and storage of rolled mattresses. Its unique design and superior strength provide secure packaging that retains its shape and protects the mattresses throughout the transport journey. The great partnership between Mondi and Megaflex Schaumstoff ensured a smooth transition, and implementation of the new solution, with only a few adjustments to the packaging machinery. By the end of 2023, Megaflex plans to switch its entire range of mattress rollpacking to paper packaging, which is already used for instance by Bett1 to package its kids’ mattresses.
Why are marketing campaigns so effective? What is the secret behind the good ones that people remember and talk about (REI’s “Opt Outside”)? Quite simply, a BIG IDEA. The best marketing and advertising over the decades have always been driven by a singular great idea (“Got Milk?”). A core idea that ties everything together. An idea that resonates with the audience and makes them think about your product or service in a different way. Remove that big idea and all you’re doing is selling products, just like the other brands. Blah. But when you build your marketing efforts around a campaign, and use that “big idea” consistently across all touchpoints, it’s more likely to get noticed, more likely to be remembered, and more likely to engage people on a human level. In other words, campaigns work.
FY23 fourth quarter service performance scores covering July 1 through August 4, included: *First-Class Mail: 91.4 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 95.1 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 85.7 percent of Periodicals delivered on time against the USPS service standard, a decrease of 2.9 percentage points from the fiscal third quarter.
*Fourth quarter revenues were $2.43 billion, compared to $2.67 billion in the prior year, reflecting the absence of the extra week in the prior year and the negative impact from foreign currency fluctuations *Net loss in the quarter was $(32) million, inclusive of $166 million related to higher non-cash write- downs and restructuring charges, compared to net income of $127 million in the prior year, which included a $149 million tax benefit *Fourth quarter Total Segment EBITDA was $341 million, compared to $315 million in the prior year *Digital revenues accounted for over 50% of total revenues for the full year, marking a key inflection point in the transformation of the Company
A group of 10 organizations, including The Associated Press and Gannett, is calling for a legal framework to protect journalism from unregulated AI use. In an open letter titled, “Preserving public trust in media through unified AI regulation and practices,” the signees advocate regulatory and industry action to ensure: *Transparency about the makeup of training sets used to create AI models. *Consent of intellectual property rights holders on copying of their content in training data. *Ability of media companies to collectively negotiate with AI model developers about use of their intellectual property. *Requiring that generative AI models identify AI-generated content. *Mandating that generative AI model providers eliminate bias and misinformation.
Color Ink, an experiential communications company based in Sussex, Wisconsin, is proud to announce its latest investment in advanced printing technology. The company has recently acquired the state-of-the-art Komori GL640/C Advance press, specifically designed for packaging printing, further solidifying its position as an industry leader in high-quality print solutions. The decision to invest in the Komori GL640/C Advance press aligns with Color Ink's commitment to delivering exceptional printing services that meet the evolving needs of its diverse clientele. With this strategic acquisition, Color Ink aims to expand its capabilities and continue providing innovative packaging solutions to its customers across various industries.
National Average Price for Regular Unleaded Current: $3.841; Month Ago: $3.541; Year Ago: $3.990. National Average Price for Diesel Current: $4.269; Month Ago: $3.843; Year Ago: $5.077.
American Dollar to Canadian Dollar = 0.743987; American Dollar to Chinese Yuan = 0.138282; American Dollar to Euro = 1.100295; American Dollar to Japanese Yen = 0.006922; American Dollar to Mexican Peso = 0.058799.
Port Hawkesbury Paper is committed to sustaining a healthy environment in our forests and facilities. The natural resources entrusted to our company are managed for long-term sustainability and biodiversity while conserving the social and cultural values of the community. In accordance with our new environmental policy, we will meet—and strive to exceed— all applicable regulations, legal obligations, and other requirements to which Port Hawkesbury Paper (PHP) subscribes. This includes setting or complying with the appropriate environmental objectives and targets, creating applicable action plans, reviewing progress, conducting periodic reviews and annual updates, and making adjustments as required.
We are proud to announce that our production facility has passed its annual food safety inspection and audit performed by the American Institute of Baking (AIB) International. We received a Superior rating. This certificate of achievement signifies that Lamitech produces clean, safe paperboard products qualified for sanitary use in the food industry. As part of the review process, Lamitech was asked to demonstrate performance in the areas of operational methods and personnel practices, sanitation program and procedures, integrated pest control, overall maintenance and thoroughness of documentation to validate on-going activities. Lamitech’s food safe packaging includes Cake Boards, SBS, Polyguard and Sammyboard fish boards.
*Sales increased 56.7% to $668.3 million, reflecting the benefit of the merger; 8% organic sales decline with negative volume/mix offsetting price increases *GAAP loss was $4.5 million, GAAP EPS was $(0.08), which all included merger integration and purchase accounting expenses* On August 1, Company announced the proposed sale of Engineered Papers and capital allocation changes *Approximately $575 million of expected net proceeds to be used to reduce net debt by 35%
Sales decreased 4% to $402.6 million, compared to $420.0 million during the same period last year. Sales were unfavorably impacted by $24.5 million due to a recall reserve adjustment. Sales and adjusted sales for the second quarter of 2023 include $12.5 million of sales related to gift card redemptions in connection with recall remedies. Our 2023 results have also been materially adversely impacted by the stop sale of the soft coolers included in the recalls initiated during the first quarter of 2023. Gross profit decreased 2% to $214.8 million, or 53.4% of sales, compared to $219.1 million, or 52.2% of sales, in the second quarter of 2022. Gross profit included a $19.4 million, or 150 basis points, unfavorable impact related to the recall reserve adjustment. Operating income decreased 26% to $50.3 million, or 12.5% of sales, compared to $68.3 million, or 16.3% of sales during the prior year quarter, and includes an $8.7 million unfavorable impact primarily from the recall reserve adjustment. Net income, which includes the unfavorable impact from the recall reserve adjustment, decreased 18% to $38.1 million, or 9.5% of sales, compared to $46.3 million, or 11.0% of sales in the prior year quarter.
Congress recently adjourned for its annual August recess following a productive July session that was punctuated by a number of significant wins for our industry. These victories would not have been possible without ATA’s repeated engagements with Capitol Hill. ATA experts are in regular contact with congressional leaders and staff to educate them on the trucking industry and effective policies that can best support fleets and drivers. *Improvements to young driver apprenticeship program advanced. *Base access provision included in NDAA. *House moved bill to overturn California’s destructive mandates. *Resolution opposing NYC congestion pricing breaks partisan gridlock. *ATA presses provision to protect independent contractor model. *ATA renews push to repeal FET.
At EUR 2,181.4 million, the consolidated sales of the group were slightly below the previous year's figure (H1 2022: EUR 2,218.5 million). A decrease in the MM Board & Paper division, which was mainly due to volume, was offset by an increase in the MM Packaging division due to acquisitions and prices. The operating result fell by EUR 181.0 million from EUR 285.0 million to EUR 104.0 million. This decline is mainly due to extensive shutdowns at MM Board & Paper due to market and remodeling. The Group's operating margin was therefore 4.8% (H1 2022: 12.8%). The profit for the period fell from EUR 205.8 million to EUR 63.3 million.
Second Quarter Financial Highlights and Recent Events • Total revenue increased by 14.6% to $71.7 million, from $62.5 million in the second quarter of 2022. • Envelope segment revenue up 7.3% to $49.3 million, from $45.9 million in the prior year. • Packaging and specialty products segment revenue of $22.4 million, up 34.7% from $16.6 million last year. • Net earnings were $2.1 million, compared to $7.4 million last year. • Acquisition on May 8, 2023 of Graf-Pak Inc. (“Graf-Pak”), a provider of folding carton packaging solutions located in the province of Quebec.
Kruger Products Q2 2023 Business and Financial Highlights • Revenue was $466.3 million in Q2 2023 compared to $397.5 million in Q2 2022, an increase of $68.8 million or 17.3%. • Adjusted EBITDA1 was $55.0 million in Q2 2023, compared to $11.8 million in Q2 2022, an increase of 365.8%. • Net income was $14.5 million in Q2 2023 compared to a net loss of $35.5 million in Q2 2022, an increase of $50.0 million.
The American Forest & Paper Association (AF&PA) today announced that nearly 68% of paper consumed in the United States (67.9%) was recycled in 2022. The paper recycling rate held approximately steady to the 2021 rate and has remained consistently high. In fact, the paper recycling rate has met or exceeded 63% each year since 2009. In 2022, the recycling rate for old corrugated containers (OCC), also known as cardboard, was 93.6%, an increase over last year's rate. Meanwhile, the 3-year average (2020-2022) for OCC was 91.3%.
Total operating revenue was $18.6 billion for the quarter, a decrease of $168 million, or 0.9 percent, compared to the same quarter last year. First-Class Mail revenue increased $221 million, or 4.0 percent, on a volume decline of 678 million pieces, or 5.9 percent, compared to the same quarter last year. Shipping and Packages revenue remained relatively flat while volume declined 41 million pieces, or 2.4 percent, compared to the same quarter last year. Marketing Mail revenue decreased $333 million, or 8.8 percent, on a volume decline of 2.6 billion pieces, or 16.0 percent, compared to the same quarter last year. The Marketing Mail decreases were driven by the continued decline in advertising spending due to economic pressures experienced throughout most of the fiscal year, a higher inflationary environment affecting print media production costs, and lower political and election mail revenue and volume, compared to the same quarter last year, due to the timing of elections. Total operating expenses were $20.5 billion for the quarter, an increase of $1.8 billion, or 9.6 percent, compared to the same quarter last year. On a non-GAAP basis, adjusted operating expenses increased by $382 million, or 2.0 percent, compared to the same quarter last year.
Adobe announced the latest online inflation data from the Adobe Digital Price Index (DPI), powered by Adobe Analytics. Online prices in July 2023 fell 1.6% year-over-year (YoY), marking the eleventh consecutive month of YoY price decreases, with the majority of categories (11 of 18) tracked by Adobe seeing falling prices on an annual basis. On a month-over-month (MoM) basis, online prices fell 0.9% in July. July’s YoY price decline was driven by notable drops in categories such as appliances, which fell 8% YoY (down 0.3% MoM), as well as furniture/bedding which fell 3.5% YoY (down 0.7% MoM). Steeper YoY declines were observed in electronics, which fell 11.7% YoY (down 0.7% MoM) as well as computers, which fell 15.4% YoY (down 1.5% MoM).
Dotdash Meredith posted a 15% decline in Q2 2023 revenue YoY to $414 million. But a $17.8 million operating loss reflected a 35% improvement over the prior year. Digital revenue fell by 10% YoY to $212 million. Print declined by 21% to $206.8 million, driven by a circulation falloffs for some publications. “Stability in traffic helped, as did passing the toughest of last year’s advertising comparables,” says Joey Levin, CEO of parent IAC. Levin continues, “While we can’t count on any aggregate recovery in the ad market, we do expect Dotdash Meredith to benefit from D/Cipher adoption, Performance Marketing strength, and more ad performance optimization on the former Meredith sites.”
Sonoco has added two new cold seal structures to the growing family of EnviroFlex® Paper products receiving How2Recycle® Widely recyclable pre-qualification. EnviroFlex Paper Ultimate (ULT) 1.0 CS and Advanced (ADV) 4.0 CS are the first of their kind to bring cold seal properties to curbside recyclable paper packaging. This results from Sonoco’s ongoing efforts to develop and provide a range of innovative and sustainable packaging solutions to meet the challenging needs of consumer-packaged goods companies in today’s competitive market. The ULT line of paper-based packaging has high oxygen, moisture, and grease barrier, ideal for moisture sensitive applications like pet treats and products containing nuts. The ADV line provides optimal performance for medium level oxygen and moisture barrier applications, like confections and powdered products.
Second quarter 2023 net income (loss) was $(18.9) million compared to net income (loss) of $14.9 million in the second quarter of 2022. Net income (loss) from ongoing operations, which excludes special items, was $(2.0) million in the second quarter of 2023 compared with $17.2 million in the second quarter of 2022.
*Net income from continuing operations of $49 million ($1.14 per diluted share) vs. $97 million ($2.25 per diluted share) *Adjusted operating earnings1 (non-GAAP) of $49 million ($1.14 per diluted share) vs. $108 million ($2.51 per diluted share) *Adjusted EBITDA2 (non-GAAP) of $124 million (13.5% margin) vs. $208 million (22.1% margin) *Cash provided by operating activities from continuing operations of $77 million vs. $63 million
Mativ Holdings, Inc. announced two appointments to its executive leadership team. Mark W. Johnson will succeed Ricardo Nuñez as chief legal officer, general counsel and secretary for the ~$3 billion specialty materials company. Johnson will assume the leadership of the company’s legal team on September 1, 2023, from Nuñez, who will be departing the company the same day. Additionally, Rajeev Kapur has been named Mativ’s new chief information officer, effective immediately. Both Kapur and Johnson will report directly to Mativ chief executive officer Julie Schertell.
*GAAP: Net sales of $3.2 billion; Operating income of $267 million; Earnings per share of $1.18 *Non-GAAP: Operating EBITDA of $522 million; Adjusted earnings per share of $1.90 *Returned $115 million to shareholders in the quarter ($83 million via share repurchases and $32 million in dividends)
Taylor Corporation has reached an agreement to acquire the assets of DMR Creative Marketing of Deerfield Beach, Fla. DMR provides branded apparel and gift items to cruise lines, resorts, gift shops and related markets for uniform programs and the souvenir channel. The acquisition advances the capabilities and distribution channels of Taylor’s Promotional Products business unit. “DMR Creative Marketing‘s capabilities and channels are an ideal fit for Taylor Promotional Products,” says Susan Drenning, Group President of Taylor Direct & Digital Marketing. “The addition of DMR’s design talent and sophisticated screen print and embroidery technology expands our scope in the industry. We have big plans for apparel, souvenirs and other promotional products and I can’t wait to see what we can accomplish together.”
UPS announced second-quarter 2023 consolidated revenues of $22.1 billion, a 10.9% decrease from the second quarter of 2022. Consolidated operating profit was $2.8 billion, down 21.4% compared to the second quarter of 2022, and down 18.4% on an adjusted basis. Diluted earnings per share were $2.42 for the quarter; adjusted diluted earnings per share of $2.54 were 22.8% below the same period in 2022. For the second quarter of 2023, GAAP results included after-tax transformation and other charges of $106 million, or $0.12 per diluted share.
The New York Times Company announced second quarter 2023 diluted earnings per share of $.28 compared with $.37 in the same period of 2022. Operating profit increased to $55.8 million in the second quarter of 2023 from $51.7 million in the same period of 2022, and adjusted operating profit (defined below) increased to $92.2 million from $76.2 million. In each case, the increase was due to higher digital subscription and other revenues, partially offset by higher operating costs.
In a move that some in the industry will welcome as putting at least a temporary stop to industry consolidation, the private investment firm KKR has reached an agreement with Paramount Global to acquire Simon & Schuster for $1.62 billion in an all cash transaction. Though below the $2.175 billion that Penguin Random House had previously agreed to pay for the country’s third largest trade publisher, $1.62 billion is a healthy price since most trade publishers sell for not much better than 1.5 times sales, and S&S’s 2022 revenue was $1.18 billion.
Net sales of $1.38 billion, down 3% as reported; down 1% constant currency Net earnings of $94 million, down 18% Earnings per share (Diluted) of $0.65, down 16% Cash flow from operations (year to date) use of $7 million Cash flow from operations includes the impact of the $175 million tax deposit
Antti Koulumies, M.Sc. (Eng.), has been appointed Senior Vice President, Timber and Forest. Koulumies will take the leadership of UPM Forest and continue to lead UPM Timber. The current leader of UPM Forest Sauli Brander, B.Sc. (Eng.), eMBA, has been appointed Vice President, UPM Global Forest Affairs. He will focus on global forest advocacy as well as global forestry themes, such as climate-positive forestry and biodiversity. Both appointments will take effect on 1 September 2023. Koulumies and Brander will continue to report to Bernd Eikens, Executive Vice President, UPM Fibres, and they will also continue as members of UPM Fibres business area management team.
myCordenons, a leading Italian manufacturer of luxury specialty papers, today announced a new long-term distribution agreement with CTI Paper USA, one of North America’s largest suppliers of premium papers and envelopes. Under the new agreement, CTI Paper USA is the exclusive distributor of myCordenons’ full range of branded specialty papers across the United States and Canada. The company stocks, services and distributes a wide array of myCordenons’ FSC-certified uncoated text and cover brands, including Stardream, Plike, So…Silk, Wild, and Natural Evolution.
PRINTING United Alliance, the most comprehensive member-based printing and graphic arts association in North America, and Franchise Services, Inc., a leading franchise management company that owns Sir Speedy, PIP, and Signal Graphics, among other leading brands; announce that Franchise Services, Inc. has joined the Alliance, a historic first for all members of a printing franchise to join the association. With this move, nearly 200 franchise locations across the United States under its umbrella will gain immediate access to the Alliance’s premier member resources, programs, and services. The partnership was officially signed at the Sir Speedy, PIP and Signal Graphics annual convention, held in Kansas City, Mo. July 12-15. Franchise Services, Inc. joins the Alliance in the midst of celebrating significant growth and success. The company recently announced that a combined comparative sales growth for the company’s print management group increased 20% last year, mostly in the signage sector, but with other products and services contributing to the strong performance which include direct mail, mailing services, marketing brochures, labels, and promotional products.
International technology group ANDRITZ has received an order from Stora Enso to optimize the fiberline at the Enocell pulp mill in Uimaharju, Finland. This will help the customer meet the growing demand for non-bleached renewable packaging materials while at the same time reducing its ecological footprint. The Enocell pulp mill in eastern Finland is part of Stora Enso’s Biomaterials division. It produces softwood and hardwood pulp with an annual production capacity of 630,000 tonnes. The site was founded in 1967 and also includes a sawmill.
FY23 third quarter service performance scores covering July 1 through July 28, included: *First-Class Mail: 91.4 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 95.0 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 85.9 percent of Periodicals delivered on time against the USPS service standard, a decrease of 2.6 percentage points from the fiscal third quarter.
Workers express little interest in seeing learning and development (L&D) activities taken over by artificial intelligence (AI), according to new survey data from Wiley. Nearly six in ten respondents (59%) in the latest Wiley Workplace Intelligence report, Artificial Intelligence in Learning and Development: Five Surprising Facts You Need to Know, say they prefer to see an instructor—in-person or virtual—direct their workforce development learning, while only 7% prefer AI-directed learning. In addition, the vast majority (87%) of respondents say they want the L&D content to be developed by a subject matter expert as opposed to AI technology (12%). “When it comes to learning and development, employees crave a human connection,” said Dr. Mark Scullard, senior director of product innovation at Wiley. “They want a person to create and lead their instruction, even if it’s in an online setting.”
*Net sales increased 11% to $134.4 billion in the second quarter, compared with $121.2 billion in second quarter 2022. Excluding the $0.3 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 11% compared with second quarter 2022. *Operating income increased to $7.7 billion in the second quarter, compared with $3.3 billion in second quarter 2022. *Net income was $6.7 billion in the second quarter, or $0.65 per diluted share, compared with a net loss of $2.0 billion, or $0.20 per diluted share, in second quarter 2022. *Operating cash flow increased 74% to $61.8 billion for the trailing twelve months, compared with $35.6 billion for the trailing twelve months ended June 30, 2022.
The National Trust for Local News has concluded its deal to purchase 22 Maine newspapers, including five dailies and 17 weeklies. The nonprofit group purchased the papers, including The Portland Press Herald and The Sun Journal of Lewiston, from Masthead Maine. Masthead Media will be rebranded as Maine Trust for Local News, according to The Bangor Daily News, which says it is the only independently owned daily left in Maine.
Amcor, a global leader in developing and producing responsible packaging solutions, announced that it has earned two AmeriStar awards from the Institute of Packaging Professionals (IoPP) for its McCoy™ dunnage free IBC liners for bulk liquid aseptic products, and Perflex® S grab-n-go shrink bags for meat and poultry. McCoy™ Dunnage Free IBC Liners for Bulk Liquid Aseptic Products Reduces Costs Up to 40% - The 330-gallon McCoy™ dunnage free bulk container liner reduces waste and cost, while enhancing sustainability. The combination of co-polymer blends and decreased materials per ply makes the package less susceptible to pinhole leaks and flex-cracking during transit. Perflex® S Grab-n-go Shrink Bags for Meat and Poultry - Amcor uses an inventive handle design in a shrink bag header to create a one-piece shrink bag that makes it easy to lift and carry slick, heavy, fresh or frozen meat and poultry up to 22 pounds. New Perflex® S shrink bags with integrated grab-n-go handles eliminate the need to use plastic netting with a clipped loop, which previously was the only option to provide a handle to carry heavy products such as turkeys.
Crown Holdings, Inc. announced the acquisition of Helvetia Packaging AG, a beverage can and end manufacturing facility in Saarlouis, Germany. The acquisition of the Saarlouis facility will expand Crown's European beverage can platform to Germany with approximately one billion units of annual can capacity. At closing, and as part of the agreement, Crown will assume the existing Helvetia customer base and accompanying contracts. The unmatched sustainability benefits and infinite recyclability of aluminum has led to an increasing preference for beverage cans to serve both the alcoholic and non-alcoholic drinks segments.
Sustainable forest certification on paper and packaging is a reassuring sign for earth-conscious consumers. This certification means the manufacturing process won’t threaten the long-term health of forests. Wood is one of our greatest renewable resources, so it’s important that creating pulp and paper doesn’t contribute to widespread deforestation in North America. Fortunately, net forest area in the U.S. has increased over the past three decades, and remained stable in Canada. Sustainable forest certification is an important tool for ensuring responsible harvesting and manufacturing. That’s why we were early supporters of using third-party certification that ensures wood is responsibly sourced. Supply chain transparency offered by certification has existed for nearly 30 years — far longer than similar standards for other commodities.
EcoVadis has recognised UPM with a platinum score based on the company’s sustainability performance in the following four categories: Environment, Labour and human rights, Ethics and Sustainable procurement. Only one per cent of the 100,000 global companies assessed received platinum. UPM’s score 87/100 was one of the highest in the Manufacture of Pulp, Paper and Paperboard industry. “Compared to last year, our carbon score improved most,” says Sami Lundgren, Vice President, Responsibility, UPM. “We are extremely proud that our climate change related management and strong decarbonisation ambition with approved Science Based Targets were recognised with the highest possible Leader status. UPM’s top rating recognises the work we have done to promote sustainability in the whole value chain and embraces our work towards the future beyond fossils.”
National Average Price for Regular Unleaded Current: $3.831; Month Ago: $3.529; Year Ago: $4.139. National Average Price for Diesel Current: $4.152; Month Ago: $3.843; Year Ago: $5.215.
American Dollar to Canadian Dollar = 0.747505; American Dollar to Chinese Yuan = 0.139160; American Dollar to Euro = 1.093975; American Dollar to Japanese Yen = 0.007007; American Dollar to Mexican Peso = 0.057722.
Want to make a huge difference in response across all your channels? In this fast-paced digital era, capturing and retaining customer attention requires a thoughtful and strategic approach. But sometimes, we create complicated marketing programs without a true understanding of the consumer or what we ultimately want them to do. The formula for great marketing is quite simple. We must DISRUPT their busy lives, we must DELIGHT with content that emotionally resonates and most importantly, we must DRIVE them to do something. Disrupt: Breaking Through the Noise - In today’s oversaturated marketplace, capturing customer attention is an ongoing challenge. Delight: Creating Content that Emotionally Connects - What is it you are truly selling? It’s not about the product and it’s not always about the discount. Drive: Creating Immediate Action - While disruption and delight are essential, your goal in the omnichannel world is to drive customers to act.
Costco Wholesale Corporation reported net sales of $17.60 billion for the retail month of July, the four weeks ended July 30, 2023, an increase of 4.5 percent from $16.85 billion last year. For the forty-eight weeks ended July 30, 2023, the Company reported net sales of $214.53 billion, an increase of 4.6 percent from $205.19 billion during the similar period last year.
Second Quarter 2023 Highlights: • Total revenues of $672.4 million decreased 10.2% compared to the second quarter of 2022 ◦ Same store revenues(1) decreased 8.6% compared to the second quarter of 2022, reflecting a sequential improvement of 70 basis points compared to the first quarter of 2023 • Total digital revenues were $262.1 million, or 39.0% of total revenues, up 0.8% over the same period in the prior year on a same store(1) basis • Net loss attributable to Gannett of $12.7 million improved by $41.0 million versus the net loss attributable to Gannett of $53.7 million in the second quarter of 2022 • Cash provided by operating activities of $46.1 million • Free cash flow(1) of $38.4 million, an increase of 188.8% compared to second quarter of 2022
Second Quarter 2023 Financial Highlights: *Net Revenues of $1,426 million for the second quarter of 2023 were down 13% compared to $1,640 million in the second quarter of 2022 and approximately flat compared to $1,431 million in the first quarter of 2023. *Net Loss of $139 million for the second quarter of 2023 compared to $74 million of net income in the second quarter of 2022 and a net loss of $133 million in the first quarter of 2023.
Faced with a labour shortage, this Vaughan, Ont.-based blown film coextruder is using a mix of hiring and retention strategies to staff up. A boxer on the receiving end of a few one-two combos – a jab and the straight right hand – can have his lights turned out pretty quickly. For manufacturers, the one-two combo of a shortage of both skilled workers (which predated the COVID-19 pandemic) and unskilled workers (triggered by the pandemic and continuing to this day) can put a business out of business, literally turning out the lights for good. The ongoing workforce crisis is the most pressing challenge facing manufacturers today, and plastics processing – which is technologically-driven but also labour-centric – can be particularly vulnerable.
As you know from our post on postcards, there are many times that a design element causes a mailing to go at a higher rate of postage. This can be frustrating as well as expensive. In order to help you stay away from potential issues here are some things to keep in mind as you are preparing a direct mail campaign. Now let’s look at Self-Mailers: 1. Self-Mailer size is 5 x 5 to 6 x 10.5, anything larger is not mailable in this category. 2. Paper stock must be a minimum of 70lb, as long as the weight is under an ounce. 3. Keep your aspect ratio between 1.3 and 2.5. 4. There are two options for addressing a self-mailer. Barcode in the address block: 4 x 2 clear area, no varnish, UV coating, text, or images for the address block. 5. There are two kinds of folds horizontal and vertical: For horizontal folds: the final fold is below the mail panel. 6. Tabbing or fugitive glue closures are required: If tabbing: up to 1 ounce mailer needs two 1 inch tabs, mailers over 1 ounce need two 1.5 inch tabs and if you are using perforations or inserts it needs two 2 inch tabs. 7. Poly bag/envelope: If you use a poly bag or envelope your mail will have to go at flat postage rates.
HIGHLIGHTS • Pulp sales of 2,513 thousand tons (-6% vs. 2Q22). • Paper sales1 of 294 thousand tons (-9% vs. 2Q22). • Adjusted EBITDA2 and Operating cash generation3 : R$3.9 billion and R$2.2 billion, respectively. • Adjusted EBITDA2/ ton from pulp of R$1,269/ton (-40% vs. 2Q22). • Adjusted EBITDA2/ton from paper of R$2,481/ton (+14% vs. 2Q22). • Average net pulp price in export market: US$562/ton (-23% vs. 2Q22). • Average net paper price1 of R$7,002/ton (+13% vs. 2Q22). • Pulp cash cost ex-downtime of R$918/ton (+7% vs. 2Q22). • Leverage of 2.2 times in USD and 2.0 times in BRL. • Cerrado Project completes 70% of physical progress and 57% of financial progress. Forecast for the start of operations to occur by June 2024.
Highlights • Strong delivery from continuing operations against the backdrop of challenging market conditions ◦ Underlying EBITDA of €680 million, down 28% (H1 2022: €942 million) ◦ Basic underlying earnings per share (EPS) of 67.0 euro cents, down 32% (H1 2022: 98.7 euro cents) ◦ Improved cash generated from operations of €554 million (H1 2022: €519 million) ◦ Robust balance sheet at 0.8 times net debt to underlying EBITDA (31 December 2022: 0.5 times) ◦ Return on capital employed (ROCE) of 19.1% (31 December 2022: 23.7%) • Delivering value accretive growth, sustainably ◦ €1.2 billion of expansionary projects on track and on budget ◦ Announced acquisition of Hinton Pulp mill (Canada) • Sale process of Syktyvkar mill ongoing within an evolving political and regulatory environment
The group faced persistent challenges in the global economy and encountered ongoing weakness in paper and pulp markets, leading to a reduction in EBITDA to US$106 million for the quarter ended June 2023. Specifically, the paper businesses experienced a significant downstream destocking cycle. Customers reduced their inventories in anticipation of lower prices, thereby affecting demand. In response, we proactively curtailed excess production in Europe and North America, implemented various cost-saving initiatives across our operations, and applied measures to optimise working capital. The profitability of the South African business was more stable, bolstered by the dissolving pulp business. Despite the challenging economic environment, we generated cash in the quarter and liquidity in the group remained strong.
Third Quarter Highlights and other notable items: *Net sales of $5.121 billion *Net income of $202 million, Adjusted Net Income of $229 million *Earned $0.79 per diluted share (“EPS”) and $0.89 of Adjusted EPS *Consolidated Adjusted EBITDA of $802 million; Corrugated Packaging segment Adjusted EBITDA increased 11.6% year-over-year *Results negatively impacted by $89 million due to economic downtime and a $39 million increase in non-cash pension costs year-over-year; WestRock’s U.S. qualified and non-qualified pension plans remain overfunded
*Reported revenue increased 1.5%, and comparable adjusted revenue increased 2.6% *Second quarter GAAP diluted EPS was $0.37 and adjusted diluted EPS was $0.93 *Net income was $16.4 million, down from $22.1 million in the prior year
Times Media Group, which owns 35 publications throughout Arizona and Southern California, has acquired Picket Fence Media, publisher of San Clemente Times and other Southern California titles. The terms were not disclosed. Times Media Group will continue operating the Picket Fence Media publications from that firm’s address in Capistrano Beach.
“Our guiding principle was that we should find opportunities to act, rather than using the war as a reason to do nothing,” said Pavlo Kravets, Director of FSC Ukraine, “with the number one priority to keep people safe.” That included finding safer places to work, adapting to hybrid working at home and in the field, sourcing electricity at times and co-working spaces that could offer internet access. Oksana Pavlishchuk, forest management certification manager, says they quickly turned fear and worry into resilience and endurance. “The new reality of the war required different organization of work processes and everyday issues, combining offline and online work,” she explained. As soon as Russia invaded Ukraine, FSC agreed to adapt its framework to allow certification in Ukraine to continue in areas not affected by the war, allowing the country to continue to benefit from its standards.
Mactac® Graphics & Signage Solutions announces the launch of Printvinyl Scored™, the first of its kind for the wide-format graphics industry. The new product line includes two pressure-sensitive adhesive (PSA) products with a scored liner for screen and wide-format printers. Mactac Printvinyl™ film is recognized for its proven quality and consistent printability. The new precision-scored liner, with a 1.25" spacing, guarantees a seamless and hassle-free removal process. Products are printable on both the film face and liner, expanding promotional messaging capabilities with an easy-to-remove scored liner that simplifies the application experience. PVS528UR features an ultra-removable acrylic adhesive with a 3.2 mil matte white polymeric vinyl film and 78# bleached kraft liner back scored liner at 1.25” apart. PVS528P has a permanent acrylic adhesive with a 3.2 mil matte white polymeric vinyl film and 78# bleached kraft liner back scored liner at 1.25” apart.
Key Points: *Revenue of €5.8 billion *EBITDA of €1.1 billion and an EBITDA margin of 19.1% *Return on capital employed of 19.0% *Free Cash Flow of €119 million
Nearly two years after Sheridan Pennsylvania installed its first Komori Lithrone GX840P Eight-Unit Perfecting Press (the first of that model to be installed in the world), the facility has added another. The second press is virtually identical to the last (absent an extended delivery and coater), featuring LED curing, automated make-ready features, Artificial Intelligence software, and advanced ink management software integration. It is also equipped with the Print Quality Assessment System (PQA-S V5) option, which consists of high-speed cameras for inline quality monitoring. This provides enhanced registration and color control – constantly monitoring product quality for typical print variations or issues. Having two powerful, intelligent presses at the Pennsylvania facility dramatically improves quality, performance, and capacity. Their highly automated efficiency contributes to Sheridan’s commitment to sustainability by significantly reducing waste and electrical consumption.
Global print consumables manufacturer Flint Group has solidified its reputation as the sustainable ink supplier of choice after announcing that all its Sheetfed process ink series are now mineral oil free. The full range of Flint Group’s K+E process series is now exclusively made from more sustainable formulations, under plans to increase the use of environmentally friendly raw materials and make packaging easier to recycle. From July, mineral oil will also be phased out as a raw material during Flint Group’s Sheetfed bulk manufacturing processes, meaning Flint Group will eliminate the substance across its operations. The announcement follows an internal review by Flint Group after the company acknowledged that mineral oil use does not contribute to a sustainable future.
Recent Highlights • Reported Net Sales of $703 million and Net Loss of $6 million in the second quarter of 2023, or $0.12 diluted loss per share. • Increased Net Cash Provided by Operating Activities by $24 million for the six months ended June 30, 2023, compared to the same period in 2022. • Increased Free Cash Flow by $12 million for the six months ended June 30, 2023, compared to the same period in 2022, including $34 million of Free Cash Flow generation in the second quarter of 2023. • Reduced Net Debt by $80 million over last 12 months to end the second quarter with a Debt Leverage Ratio of 2.34x, which is within the company’s long-term targeted leverage range of 2.0x – 2.5x.
For the second quarter of 2023, Clearwater Paper reported net sales of $525 million compared to net sales of $526 million for the second quarter of 2022. Net income for the second quarter of 2023 was $30 million compared to net income for the second quarter of 2022 of $15 million. For the first six months of 2023, Clearwater Paper reported net sales of $1.1 billion, a 3% increase compared to net sales of $1.0 billion for the first six months of 2022. Net income for the first six months of 2023 was $54 million compared to net income for the first six months of 2022 of $31 million.
The largest producer and exporter of packaging paper and sustainable paper packaging solutions in Brazil, Klabin recorded Adjusted EBITDA (Earnings before Interest, Taxes, Fees, Depreciation and Amortization) of R＄ 1,344 billion in the second quarter of 2023, a decrease of 27% compared to the same period of the previous year, excluding one-off effects. In the second quarter of 2023, the company achieved net income of R＄4.293 billion. It is worth highlighting the corrugated cardboard segment, whose revenue grew 5% in the second quarter of 2023 in the annual comparison. The positive result reinforces the benefits of Klabin's integrated business model. The ROIC (return on invested capital) reached 17.4% in the last 12 months, proving the Company's ability to generate value for shareholders even in challenging economic scenarios.
Resolute Forest Products Inc., a subsidiary of Domtar Corporation and a part of the Paper Excellence Group, today announced that, on August 1, 2023, it completed the previously disclosed sale of the Thunder Bay (Ontario) pulp and paper mill to an affiliate of Atlas Holdings, pursuant to the terms of the asset purchase agreement dated May 26, 2023. Resolute will continue to operate its sawmills and woodlands operations in Northwestern Ontario. With the closing of the transaction, the parties have entered into certain ancillary agreements, including a long-term woodchip and biomass supply agreement pursuant to which Resolute will continue to provide chips and biomass to the Thunder Bay mill.
Sustana, the sustainable fiber and paper industry leader, announced today that it has completed a transaction with Hanna Paper, one of the largest high-grade paper recycling companies in North America. Headquartered in Toronto, Canada, Hanna processes 300,000 tons of paper annually through its eight recovery facilities across North America. The company employs approximately 200 employees and services over 1,000 customers. “Today marks an exciting milestone for Sustana and the long-term stability of our supply chain,” said Fabian de Armas, CEO of Sustana. “We are steadfast in our commitment to sustainability, and we are thrilled to welcome Hanna, a long-time leader in our industry, to the Sustana family. We look forward to growing together with Hanna and its team as we continue to deliver on our vision of a circular economy.”
Mativ Holdings, Inc. announced that it has received a binding offer from Evergreen Hill Enterprise, Pte. Ltd., to acquire Mativ’s Engineered Papers business, part of Mativ’s Fiber Based Solutions reporting segment, for $620 million. Subject to customary closing date adjustments, Mativ expects to receive net proceeds (net of taxes and other items) of approximately $575 million in the proposed transaction, which would be primarily used for debt paydown. Julie Schertell, CEO of Mativ, commented, “The proposed sale of Engineered Papers is a key milestone in the transformation of Mativ and aligns with our strategy to focus our efforts, accelerate growth, and drive value for our shareholders. This pivotal action positions our portfolio for faster growth and focuses our resources on categories with the most promising revenue and margin expansion opportunities. While a solid business, EP’s concentration in the tobacco industry is not aligned with Mativ’s long-term ambition and presents a more attractive value proposition under new strategic ownership. Our talented and dedicated employees will continue to deliver outstanding products and service to EP’s long-standing customer base, and we are confident in a smooth transition.”
Highlights: *Net Sales were $2,392 million, an increase of 1% versus the prior year quarter. *Net Income was $150 million, an increase of 127% versus the prior year quarter. *Earnings per Diluted Share were $0.49, an increase of 133% versus the prior year quarter. *Announcing definitive agreement to acquire Bell Incorporated, a well-capitalized U.S. packaging provider. *Board of Directors approved $500 million increase to share repurchase authorization.
UPM Biochemicals has acquired SunCoal Industries GmbH, a German-based company that developed a unique technology portfolio to produce performance products from renewable raw materials. With this acquisition SunCoal Industries’ technology will be integrated into the production of UPM’s BioMotionTM Renewable Functional Fillers (RFF), one of the products to be produced at UPM Biochemical’s first-of-its kind biorefinery in Leuna and strengthen the overall technology portfolio of UPM’s biorefining businesses. The ownership of SunCoal Industries and its team specializing in lignin valorization enables UPM to strengthen the role as a leading supplier of sustainable, renewable functional fillers to the rubber and plastic markets by further developing the technology inhouse. SunCoal Industries’ experts will bring additional capabilities to further develop the RFF production technology and processes and support UPM’s ambitious growth plans in the biorefining space.
Marketers and PR people are in a wary mood, judging by a new study from CommsCo PR. Of those polled, 55% are more stressed than they were this time last year, and 63% now say they are expected to do more with less. But they are pushing ahead — 58% are increasing their budgets, versus 26% who are reducing them. Another 16% are keeping their budgets the same. Meanwhile, 45% believe AI will drive more investment in marketing, while 34% believe it will lead to reductions. In addition, 65% say AI will drive a wave of productivity. Only 13% are nervous about AI.
Amazon plans to eliminate plastic in its mailer bags as part of an effort to cut down on waste, decarbonize and improve overall sustainability, according to the company’s 2022 sustainability report released this week. It’s also boosting attention to packaging lightweighting and elimination. The company is “phasing out padded bags containing plastics in favor of recyclable alternatives,” the report says. Some of the bags are solely made of plastic while others are a blend of plastic and paper; the mixed materials can present recycling challenges. In the U.S. and Canada last year, the company replaced 99% of padded bags made from a mix of plastic and paper with paper-padded bags that the company says are recyclable. Upon announcing the production of its 1 billionth EarthKraft recyclable paper padded mailer last month, Georgia-Pacific noted that Amazon provided feedback in 2020 that consumers are demanding sustainable alternatives to plastic mailers. Walmart is also among the companies switching from plastic to paper mailers for e-commerce.
Hood Container Corporation announced today that it has acquired the corrugated packaging business of Dalton, GA based Sustainable Printing LLC. The transaction includes all printing, converting, and ancillary equipment located in Dalton, GA. Hood will continue operating these assets in the current facility. These assets complement Hood Container’s Southeastern footprint creating greater corrugated capacity and enhanced production capabilities in the Georgia and Tennessee region. This acquisition increases Hood Container’s digital print production footprint and will allow the company to continue expanding its corrugated converting capabilities. Charlie Hodges, President and COO of Hood Container Corporation, commented, “The Dalton facility will provide additional capacity and new capabilities to Hood’s presence in the markets we serve. We are excited to add these capabilities to Hood’s offerings to better serve and care for our existing and new customers.”
Summary *Strong performance and cash flows despite operating in a generally disruptive demand environment *Most of our businesses were at or above expectations for the quarter due to commercial and operational excellence, with particular strength in the flexible packaging and rigid paper container businesses, offset by weakness in the metal packaging and industrial North American region businesses *Inventory management and destocking trends among our customers as well as inflationary pricing pressures led to lower and increasingly uncertain demand which impacted operational efficiency in our metal and industrials businesses *Remained disciplined in managing working capital to generate $349 million of operating cash flow in the first six months of 2023
DS Smith, a leading sustainable packaging provider, today announced it has entered into an agreement to acquire Bosis doo, a high-quality packaging company in Serbia. The acquisition is complementary to the business’ existing regional packaging activity in Eastern Europe, and will support its growth drive in the region. With a focus on fast moving consumer goods (FMCG) customers, Bosis doo is particularly well suited to complement DS Smith’s strategy in the region, which targets higher growth and margin opportunities through its sustainable performance packaging customer proposition. The acquisition will be structured as a share transaction and is expected to complete within the second half of DS Smith’s financial year, subject to customary closing conditions.
GreenFirst Forest Products Inc. (TSX: GFP) is pleased to announce the reduction in its softwood lumber duty deposit rate from 20.23% to 7.99%, which is expected to take effect on or about August 2, 2023. This official change by the United States Department of Commerce (“US DOC”) results from the Final Determination of the Fourth Administrative Review of softwood lumber imports from Canada to the United States for the year 2021. Since August 28, 2021, upon the acquisition by GreenFirst of the Rayonier sawmills, the US DOC assessed GreenFirst’s duty deposit rate on softwood lumber imports to the United States at a significantly higher rate than its Canadian peers. The net effect of the US DOC’s decision has resulted in a reduction in GreenFirst’s earnings and a corresponding overpayment of softwood lumber duties in relation to other Canadian exporters. We believe the amount of the overpayment up to the end of June is approximately US$21 million; however, at this time we are not certain when this reimbursement may occur. Beyond this overpayment, GreenFirst has an additional US$51 million of duties on deposit pending a broader industry settlement.