L Brands Reports February 2018 Sales

Glamour magazine is to stop publishing a monthly print edition as it turns its focus to digital and becoming the “ultimate online beauty destination” for the UK, owners Conde Nast announced today. The popular women’s fashion magazine will now only appear in print twice a year. Conde Nast said these collectible, glossy issues would be the “ultimate beauty bible and style guide for the coming season”. The move to a “mobile-first, social-first strategy” is said to be a response to “the way in which the Glamour reader is living their life today, ensuring continued success across multiple platforms”. Click Read More below for more of the story.

Book publishers are giving an advance review of the industry’s future, and it looks a lot like the past. After a decade of technological upheaval and lackluster growth, executives at the top four U.S. consumer book publishers say they are done relying on newfangled formats to boost growth. It has been nearly 10 years since Amazon.com Inc. introduced its Kindle e-book reader amid the financial crisis, destabilizing publishers and challenging their well-honed business models. Now, e-book sales are on the decline, making up a fraction of publishers’ revenue, and traditional book sales are rising. The consumer books industry is enjoying steady growth in the U.S., with total revenue increasing about 5% from 2013 to 2016, according to the Association of American Publishers. Executives gathered in Frankfurt for the industry’s biggest trade fair said they are returning to fundamentals: buying and printing books that readers want to buy—and they are streamlining their businesses to get them out faster than ever before. It is about “knowing what [readers] want,” said Markus Dohle, chief executive of Bertelsmann SE and Pearson PLC’s joint venture Penguin Random House, “to drive demand at scale.” Click Read More below for additional information.

For the Three Months Ended April 3, 2021: Net sales increased 42% to $247.6 million, compared to $174.4 million during the same period last year. Gross profit increased 57% to $145.2 million, or 58.6% of net sales, compared to $92.5 million, or 53.0% of net sales, in the first quarter of 2020. Operating income increased 148% to $40.0 million, or 16.2% of net sales, compared to $16.2 million, or 9.3% of net sales, during the prior year quarter. Net income increased to $30.5 million, or 12.3% of net sales, compared to $8.5 million, or 4.9% of net sales, in the prior year quarter.