L Brands, Inc. (NYSE: LB) reported net sales increased 6% to $981.2 million for the five weeks ended April 4, 2015, compared to net sales of $923.7 million for the five weeks ended April 5, 2014. Comparable store sales for the five weeks ended April 4, 2015, increased 9% and were positively impacted by the earlier Easter this year by approximately 3 to 4 points.
Costco Wholesale Corporation today reported net sales of $10.40 billion for the month of March, the five weeks ended April 5, 2015, which compares to $10.43 billion during the similar period last year. This year's total reflects one less sales day than last year, due to the timing of Easter. This calendar shift negatively impacted this year's net and comparable sales by an estimated one to one and one-half percent. For the thirty-one weeks ended April 5, 2015, the Company reported net sales of $67.58 billion, an increase of five percent from $64.65 billion during the similar period last year.
For the fourth quarter, the company reported revenues of $6.8 billion and net income of $1.835 billion, or $1.79 per diluted share. For the full year, the company reported revenues of $26.5 billion and net income of $2.109 billion, or $2.08 per diluted share. Current year results for both the fourth quarter and the full year were favorably impacted by a reduction of the deferred tax asset valuation allowance and a full year provision of income tax expense at a statutory tax rate, the net effect of which resulted in an income tax benefit of $1.716 billion, or $1.67 per diluted share and $1.682 billion, or $1.65 per diluted share in the fourth quarter and full year, respectively. The company reported Adjusted EBITDA of $343.3 million or 5.0 percent of revenues in the fourth quarter and $1,322.8 million or 5.0 percent of revenues for the full year.
Stein Mart, Inc. (Nasdaq:SMRT) today reported total sales for the five-week period ended April 4, 2015 of $155.8 million, a 14.2 percent increase over total sales of $136.3 million for the five-week period ended April 5, 2014. Comparable store sales for the five-week period ended April 4, 2015 increased 11.2 percent from April 5, 2014.
Burgo plans to change the shift system from a continuous to a semi-continuous cycle on the 165,000 tonne/yr PM 8 at its Verzuolo lightweight coated (LWC) paper mill in northwestern Italy from June 1. The move may lead to 46 job cuts across all departments at the factory, according to a source at the Fistel-Cisl trade union. In response, the union called for a two hour strike at the start of each shift at the factory on April 7.
Leveraging its proprietary Printed Electronics platform, RR Donnelley's CustomWave RFID Solutions offer complete smart label solutions beginning with in-house RFID antenna design and performance testing and including printed inlay manufacturing, custom label and tag creation, fully automated quality control, and global distribution and fulfillment services. By customizing the RFID antenna and label/tag characteristics to the application, RR Donnelley's CustomWave RFID Solutions help customers improve their RFID return on investment through better overall performance.
Starting with its September issue, the luxury travel magazine Condé Nast Traveler will be bigger and heavier. The pages will be two inches bigger when the magazine is opened, with thicker pages and heavier covers. “It’s going to feel like the luxury product that it is,” said Bill Wackermann, the magazine’s publisher. “What do you get in first class? You get more space.” Condé Nast Traveler’s move is a significant investment in print as many publications are shifting their focus to digital. The idea is to give the magazine’s affluent consumers a more substantial product — something they would want to display on their coffee table. “The luxury consumer loves their print,” Mr. Wackermann said. “There’s something tactile about it, and there’s something that feels great stocking it in your bookshelves and holding onto it.”
Fortress Paper Ltd. has successfully completed the mandatory 100-hour test for its cogeneration facility at the Fortress Specialty Cellulose Mill in Thurso, Que. This will allow for the addition of 5.2 MW of incremental power. The cogeneration facility can now deliver up to 24 MW of power to Hydro Québec at the contract commercial rate.
Cellulose nanocrystals derived from agriculture, pulp or paper industries have been shown to increase the strength of concrete, representing a potential renewable additive to improve this construction material. Researchers at Purdue University have demonstrated that the cellulose nanocrystals can increase the tensile strength of concrete by 30%. “This is an abundant, renewable material that can be harvested from low-quality cellulose feedstocks already being produced in various industrial processes," said Pablo Zavattieri, an associate professor in the Lyles School of Civil Engineering.
The benchmark U.S. oil price jumped to a 2015 high on Tuesday, on fresh signs the nation’s production is on the brink of a decline. The U.S. Energy Information Administration said U.S. crude-oil output, which hit a 42-year high in March, would peak in April and May before falling from June to September.