For the second quarter of fiscal 2015, net sales decreased 17% to $326.9 million, from $396.2 million in the year ago period. Comparable sales, including the e-commerce channel, for the second quarter of fiscal 2015 decreased 8%, compared to a decrease of 13% for the corresponding 13-week period ended August 2, 2014. The Company reported a net loss for the second quarter of fiscal 2015 of $43.7 million, or $0.55 per diluted share, which included: an after-tax charge of approximately $2.9 million, or $0.04 per diluted share, resulting from store closing costs; and an after-tax charge of $2.4 million, or $0.03 per diluted share, due to consulting fees; offset by an after-tax benefit of $6.4 million, or $0.08 per diluted share, due to reversals of previously established exit cost obligation liabilities resulting from subsequent lease terminations.
KapStone Paper and Packaging Corporation received a notice of a work stoppage from the union at its Longview, Washington mill, AWPPW Local 153 (the "Union"), effective on August 27, 2015. KapStone has been preparing for a potential strike since the Union voted down its prior offers. KapStone is conducting a cold mill outage to perform necessary maintenance to its machines and has full contingency plans in place to continue to service its customers during the strike. After the maintenance outage, KapStone plans to run its largest machine early next week, with subsequent machine operation to follow. KapStone does not expect any interruption of service or products to its customers.
Second Quarter highlights: *Total revenues decreased 5% to $593.6 million. Comparable company sales decreased 11% following an increase of 4% in the second quarter last year. *J.Crew sales decreased 10% to $506.5 million. J.Crew comparable sales decreased 13% following an increase of 3% in the second quarter last year. *Madewell sales increased 22% to $67.9 million. Madewell comparable sales increased 8% following an increase of 17% in the second quarter last year. *Gross margin was 34.3% compared to 37.6% in the second quarter last year.
The self-published picture book The Rabbit Who Wants to Fall Asleep, by Carl-Johan Forssén Ehrlin, sold more than 29,000 print copies at outlets that report to Nielsen BookScan last week, making it the #2 juvenile fiction title for the week ended August 23. The sales jump for the picture book, released through Amazon's CreateSpace, was one rarely seen in publishing. At the close of last week, on August 16, the book had only sold 24 copies through BookScan outlets, and had sold just over 300 copies since its release in April 2014.
Vibrant Graphics is in the process of moving to a larger facility here for its digital printing business, BizTimes.com reported. The relocation is slated to begin Thursday and will take about a week to complete. The firm, which is currently in a leased 10,000-square-foot building on Sidney Place, is moving to a 66,000-square-foot plant less than two miles away on Baker Road. The new locale is being purchased by Sewart Holdings, parent company of Vibrant Graphics.
The total print and digital audience for U.S. magazines increased 7.6% from 1.57 billion in July 2014 to 1.68 billion in July 2015, and the majority of this growth came from mobile devices: the total mobile Web audience jumped 58.3% from 281.4 million to 445.5 million over the same period. Meanwhile the size of the audience accessing magazine content via desktops or laptops edged up 3.2% to 256.9 million. As in previous months digital growth more than offset a smaller decrease in magazines’ total print audience, ad combined print and digital editions (which make up a small part of this subtotal) slipped 5.6% from 961.3 million to 941.4 million.
Second-Quarter Fiscal 2015 Highlights * Total comparable sales increased +6.7%, on top of +7.0% in the prior-year quarter * 111 DXL retail stores, open at least 13 months, had an +11.9% comparable sales increase on top of +11.3% in the prior-year quarter * Operating loss of $(0.2) million versus an operating loss of $(2.6) million in the prior-year quarter * EBITDA from continuing operations increased 116% to $6.8 million from $3.1 million in the prior-year quarter * Sales per square foot for the DXL retail stores, on a rolling 12-month basis, were $172, compared with $156 for the prior-year quarter
"The trend is strong and down. However, do not be wrong-footed by a correction higher," PVM Oil Associates technical analyst Robin Bieber said. "Few markets head forever in one direction with no respite." Front-month Brent , the global oil benchmark, was up $1.90 at $45.04 a barrel by 1100 GMT. U.S. crude , also known as West Texas Intermediate (WTI), was up $1.80 at $40.40 a barrel. Phillip Futures oil analyst Daniel Ang said he saw the rally as a pause in a downward trend, rather than a longer-term shift upwards.
Fourth Quarter Highlights: • Revenues grew 21.8 percent to $228.3 million, primarily reflecting contributions from Harry & David, combined with growth across all three of the Company's business segments. • Adjusted EBITDA1, excluding stock-based compensation, was a loss of $1.8 million, compared with $11.3 million in the prior year period, primarily reflecting the seasonality of Harry & David. Full Year Highlights: • Revenues grew 48.3 percent to $1.12 billion, compared with $756.3 million in the prior year, reflecting contributions from Harry & David, combined with growth across all three of the Company's business segments.
Nine Dragons Paper (Holdings) will suspend production on three PMs at its board mill in Tianjin municipality to cut emissions for the upcoming Victory Day parade in Beijing, China. Tianjin is adjacent to Beijing, and Nine Dragons runs five PMs with a combined capacity of 1.95 million tonnes/yr of recycled containerboard and cartonboard grades at a mill there.