Gannett Announces Further Debt Repayment

For the Three Months Ended October 2, 2021 -Net sales increased 23% to $362.6 million, compared to $294.6 million during the same period last year. -Gross profit increased 19% to $207.0 million, or 57.1% of net sales, compared to $174.0 million, or 59.1% of net sales, in the third quarter of 2020. The 200 basis point decrease in gross margin was primarily driven by higher inbound freight rates and the unfavorable impact of the non-renewal of the Global System of Preferences (“GSP”) program on import duties, partially offset by product cost improvements and all other impacts. -Operating income decreased 2% to $68.7 million, or 19.0% of net sales, compared to $70.1 million, or 23.8% of net sales, during the prior year quarter due to the aforementioned lower spending levels in 2020.

Click here (https://security-us.mimecast.com/ttpwp#/checking?key=dG9tLnBhbmtvd0BtaWRsYW5kY28uY29tfHJlcS1lNGUxNTYyN2RiMmY4M2JlYmU4YThmOGQ5MTEyNmNhOA%3D%3D) to review our mailing industry coalition-based letter in support of HR 3076 -The Postal Service Reform Act. We and other organizations and companies who comprise the Coalition for a 21st Century Postal Service have been asked to support this signifcant and helpful bill. Getting this passed with a clear bipartisan majority in the House will grease the skids in the Senate. Constituent influence is the key to getting this done. We hope to obtain as many signatures from companies and trade associations as possible, demonstrating broad support. The ACMA is signing onto the letter and we urge you to review it, then send a quick reply directly to this email whether you’d like your company’s name added or not. Sorry for the short notice, but please get back to us no later than 10:00 am Eastern Time Tuesday, February 1st. This bill is the product of years of work by ACMA and others. As with much Congress does, it is not perfect, but it is clearly helpful and while we will continue to work for improvements, we cannot let perfect be the enemy of good. This is good as written and we must move quickly as things will soon devolve into election year politics and nothing may be possible. ACMA member or not, if you mail, you should support this bill. Please reach out with any questions, and thank you for taking action!

Coldwater Creek will be revived – online and in print. CWC Companies, parent company of the women’s apparel retailer, which shut down operations at the end of July, has been acquired by Newtimes Group, one of world’s largest supply providers to the apparel industry. The Hong Kong-based Newtimes said it purchased CWC’s inventory and intellectual property assets from Sycamore Partners for $12.2 million. Newtimes plans to operate the acquired assets as an independent entity under the newly formed Coldwater International and will provide sourcing and back-office support. The company plans to relaunch the Coldwater Creek website in a few weeks and issue a new Coldwater Creek catalogue before the end of the year.