Fourth Quarter highlights: *Total revenues increased 3% to $705.3 million. Comparable company sales decreased 3% following an increase of 3% in the fourth quarter last year. Total e-commerce sales increased 4% to $247.8 million following an increase of 10% in the fourth quarter last year. *J.Crew sales decreased 0.1% to $620.7 million. J.Crew comparable sales decreased 5% following an increase of 3% in the fourth quarter last year. Madewell sales increased 33% to $73.7 million. Madewell comparable sales increased 14% following an increase of 10% in the fourth quarter last year. *Gross margin was 34.5% compared to 36.8% in the fourth quarter last year.
*Adobe achieved revenue of $1.11 billion, above the high end of the targeted range of $1.05 billion to $1.10 billion. *Adobe added 517 thousand net new Creative Cloud subscriptions in the quarter, which represents 28 percent year-over-year growth when compared to net new subscription additions in Q1 fiscal year 2014. *Creative Annualized Recurring Revenue (“ARR”) grew to $1.79 billion, and total Digital Media ARR grew to $2.09 billion. *Adobe Marketing Cloud revenue was $311 million.
Robert Glowinski, President and CEO, AWC: “We support clean air and realistic, science-based air quality standards. However, a further restriction is not justified because the health effects evidence for ozone has not changed significantly since EPA last tightened the ozone NAAQS in 2008. In fact, EPA just published the 2008 Ozone Implementation rule earlier this month, seven years after it set the new standard. So before EPA again changes the rules, the 2008 standard should first be fully implemented by the states and its impacts assessed before the goal posts are moved once more.” Donna Harman, President and CEO, AF&PA: “The costs of further tightening the standard are significant when there is such scientific uncertainty. EPA’s own cost benefit analysis would make the ozone rule one of the most expensive air regulations ever. The proposed revisions could place most of the country in nonattainment, putting five times more paper and wood product mills at risk.”
American Forest & Paper Association (AF&PA) President and CEO Donna Harman issued the following statement supporting bills introduced today by Sens. John Thune (R-S.D.) and Joe Manchin (D-W.Va.) and Reps. Pete Olson (R-Texas) and Bob Latta (R-Ohio) that would prohibit the U.S. Environmental Protection Agency (EPA) from tightening national ambient air quality standards for ozone until at least 85 percent of the counties in non-attainment meet the 2008 standard.
"When oil broke $110 a barrel, it broke economic reality. Consumers simply can't afford the gasoline that you net out from that price" said Stephen Schork , editor of the Schork Report. "This is the same thing in reverse. We've diverged from reality and reason." Schork says that in the short-term, $42.20 and $40 will serve as important levels but added that "all I can do is follow the momentum." "I can't tell you when oil has reached a bottom-and by the way, no one is going to be able to tell you," the analyst said.
“We had a very successful peak season as volumes grew across all transportation segments, and our profit improvement programs are moving ahead as scheduled,” said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer. “We believe our strategy is sound, our culture is unique, and our customers value our broad portfolio of business solutions.” FedEx Corp. reported the following consolidated results for the third quarter: *Revenue of $11.7 billion, up 4% from $11.3 billion the previous year *Operating income of $962 million, up 50% from $641 million last year
The Federal Trade Commission will hold a workshop examining privacy issues raised by tracking consumers across devices for ad purposes, the agency said on Tuesday. “With the advent of new tracking methods, though, it’s important to ensure that consumers’ privacy remains protected as businesses seek to target them across multiple devices,” FTC consumer protection head Jessica Rich said in a statement. The agency noted that ad companies are turning to tracking technologies other than cookies, which only track people's activity on one particular device. Cross-device tracking techniques, by contrast, aim to glean information about people's Web activity across not only desktops or laptops, but also smartphones, tablets and wearable devices.
As announced on 18 December 2014, Stora Enso has reorganised its divisional and reporting structure. In Stora Enso, the IFRS reporting segments are formed by divisions except for the segment Other.The new structure is valid from 1 January 2015 onwards. Stora Enso will report financial figures for the divisions Consumer Board, Packaging Solutions, Biomaterials, Wood Products and Paper and the segment Other. The former Renewable Packaging division has been split into two separate divisions: Consumer Board and Packaging Solutions. The Consumer Board division operates five board mills in Finland, Sweden and Spain. The operations of the Guangxi board mill project in China and the Bulleh Shah Packaging joint venture in Pakistan also belong to Consumer Board. Packaging Solutions operates container board mills in Finland and Poland and converting plants in ten countries in Europe and Asia, including Inpac Packaging in China and India. The new structure in the packaging business is a further step towards strengthening Stora Enso’s focus on customers, business performance and growth.
Consumers for Paper Options (CPO), a coalition of individuals and organizations advocating for access to paper-based services and information, today submitted comments urging the U.S. Food and Drug Administration (FDA) to maintain paper-format prescribing information for medications. Under a new proposed rule, prescription drugs would no longer include paper “professional inserts,” which contain important prescribing information—such as drug interactions and dosing guidelines—used by pharmacists. “The U.S. is not ready for an all-electronic drug labeling mandate,” said John Runyan, executive director of Consumers for Paper Options. “According to the FDA’s own survey, many pharmacists expressed concern over e-labeling due to Internet connectivity issues or browsing restrictions at the pharmacy level. Paper format is still the most effective and reliable means of communicating potentially life-saving information about drug interactions, dosing and other safety restrictions.”
Cimpress N.V. (Nasdaq: CMPR), the world leader in mass customization, announced today it has entered into a definitive agreement to acquire druck.at Druck- und Handelsgesellschaft mbH (druck.at), one of the leading web-to-print businesses in Austria. The acquisition supports Cimpress’ strategy of building a software-enabled operational platform that aggregates and optimizes the supply chain and production of mass customized products such as signage, printing, apparel and promotional products. Cimpress goes to market via a portfolio of specialized and focused brands and Druck.at aligns with the Cimpress strategy in this regard as well. Druck.at, founded in 2001, produces a wide variety of high quality printed products that are sold both directly to small and medium business customers and through resellers such as graphic designers, print brokers, and local print shops.