Barnes & Noble, Inc. (NYSE: BKS) today reported sales and earnings for its fiscal 2015 third quarter ended January 31, 2015. Third quarter consolidated revenues of $1.96 billion declined $35 million as compared to the prior year. Third quarter consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) increased 14% as compared to the prior year to $197 million.
John Wiley & Sons, Inc. (NYSE: JWa and JWb), a global provider of knowledge and knowledge-enabled services that improve outcomes in research, professional practice, and education, today announced their results for the third quarter of fiscal year 2015. “Revenue growth this quarter continued to be driven by the strength of our Research journals business, our 2014 acquisitions, and the continued double-digit growth of our Education solutions businesses, including Deltak Education Services and WileyPLUS Course Workflow Solutions,” said Mark Allin, Chief Operating Officer. “For the quarter, journal subscriptions revenue increased 4% on a constant currency basis, while Education Services (Deltak) secured eleven new online programs and another university partner. Our profitability also improved, with higher gross margins from digital products, cost savings from restructuring, and lower income tax rates resulting in another quarter of solid earnings growth for the Company.”
Sonoco (NYSE:SON), one of the largest diversified global packaging companies, today announced the signing of a definitive agreement to acquire a majority interest in Graffo Paranaense de Embalagens S/A (Graffo), a closely held flexible packaging business located in Pinhais, Curitiba, Brazil. Terms were not disclosed, and the transaction is expected to close in the second quarter of 2015. Founded in 2001, Graffo had sales of approximately $35 million USD in 2014. It operates high-quality rotogravure printing presses, including a new 10-color press, as well as sophisticated lamination applications at its Pinhais facility. With approximately 230 employees, Graffo serves the confectionery, dairy, pharmaceutical and industrial markets in Brazil.
Smurfit Kappa Group is pleased to announce that it has agreed to acquire Grupo CYBSA, a non-integrated corrugated, folding cartons and flexible packaging manufacturer with operations in El Salvador and Costa Rica. CYBSA is a private company with approximately 1,000 employees and net assets at 31 December 2014 of approximately US$40 million. It operates five packaging plants located in the higher growth markets of El Salvador and Costa Rica, from which it services a growing customer base in its domestic markets, along with Guatemala and Honduras.
For the eighth consecutive year, SCA has been recognized as one of the World’s Most Ethical Companies by the Ethisphere Institute. Only three companies in the Forestry, Paper and Packaging category were honored this year and SCA is one of them. The World’s Most Ethical Companies designation highlights companies that truly go beyond making statements about doing business “ethically” and translate their words into action. “SCA places strong emphasis on corporate responsibility and we are honored to be named one of the world’s most ethical companies for the eighth consecutive year. This award reflects the trust we strive to earn each day from our customers, consumers and business partners, and how our employees manage our extensive operations in a responsible way,” says Kersti Strandqvist, Senior Vice President, Group Function Sustainability, SCA.
Quad/Graphics, Inc. (NYSE: QUAD) ("Quad/Graphics" or the "Company") announced today that print industry veteran Mark Angelson has rejoined its board of directors. Mr. Angelson was the Chairman and CEO of Montreal-based printer World Color Press Inc. ("Worldcolor") when he originally joined Quad/Graphics' board of directors on July 2, 2010, following Quad/Graphics' acquisition of Worldcolor. Mr. Angelson played a critical role in facilitating the acquisition, which propelled Quad/Graphics into the second largest commercial printer in the Americas. He left the board in April 2011 to become Deputy Mayor of Chicago. Most recently, Mr. Angelson was Chairman of the Board ofpapermaker NewPage Corporation and helped lead its recent merger with Verso Corporation.
HarperCollins is creating two new Spanish-language publishing divisions: HarperCollins Español and HarperCollins Iberica. With the move, HC will increase the number of Spanish-language titles it publishes, as HarperCollins Español will do roughly 50 titles a year in the Americas, and HarperCollins Iberica will release about 30 titles a year in Spain and Portugal. The expansion will kick off with the publication of a Spanish-language edition of Harper Lee's second novel, Go Set a Watchman, which will be called in Spanish Ve y pon un centinela. HC acquired world Spanish rights to Watchman in all formats, as well as print and audio rights to To Kill a Mockingbird. The publisher will release the Spanish-language edition of Watchman in the U.S. on July 14, the publication date for the English-language edition of the book. The Spanish-language edition will be released in other markets later in July.
Sappi North America has filed a formal property tax abatement application with the Skowhegan Board of Assessors for the Somerset mill. Sappi filed this request because the assessed value of the mill determined by the Town of Skowhegan greatly exceeds its fair market value. A fair valuation is critical to the long-term financial health of the mill. The value of paper mills across North America has fallen sharply in the past few years due to structural demand declines in the industry. Even mills like Somerset that make coated paper for use in high-end magazines and catalogs have experienced shifting demand to digital advertising, tablets and mobile devices. The lower demand has made it difficult for many mills to remain profitable. "Sappi intends to operate the Skowhegan mill far into the future, as evidenced by the many significant investments we have made to maintain its world-class status," said Mike Haws, Managing Director of the Somerset mill. "But in order to remain competitive, we must also be low cost.
Import cargo volume at the nation’s major retail container ports is expected to rise an unusually high 16.9% this month over the same time last year as West Coast ports begin to dig out from a backlog of cargo that built up during just-concluded contract negotiations with dockworkers, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates. “The contract talks are over, but the tentative agreement still has to be ratified and it’s going to take months to get back to normal on the West Coast,” said NRF VP for supply chain and customs policy. “Retailers’ immediate priority is to make sure spring merchandise reaches store shelves in time.”
Macy’s, Inc. (NYSE:M) today announced the completion of its previously announced acquisition of Bluemercury, Inc., widely recognized as America’s largest and fastest-growing luxury beauty products and spa services retailer, for $210 million in cash. Bluemercury, based in Washington, D.C., currently operates about 60 specialty stores in 18 states, typically in prime street-level locations and urban lifestyle centers, as well as an online business. Macy’s, Inc. plans to operate and significantly expand Bluemercury stand-alone specialty stores, enhance its online capabilities and add selected Bluemercury boutiques and private-brand products to Macy’s stores nationwide over time.