Office Depot, Inc. announced the release of its 2019 Corporate Sustainability Report, incorporating sustainability information for Office Depot, CompuCom and Grand & Toy. Additionally, the report contains the company’s public-facing sustainability goals around energy consumption, transportation emissions and local communities. “We are committed to decreasing the company’s environmental impact through waste diversion programs, greener packaging, transportation innovations and product solutions that extend throughout the lifecycle,” said Gerry Smith, chief executive officer for Office Depot, Inc. “We look at sustainability as another challenge we can help our customers address. By supporting the social and environmental values of our customers, we are able to significantly scale our impact beyond our walls and into the workplace of every customer.” Click Read More below for additional information.
Total packaging papers shipments were down 7.2 percent from May 2018 and down 2.4 percent year-to-date. Bag and sack shipments were down 0.6 percent year-to-date; multiwall shipments were down 7.5 percent; food wrapping shipments were essentially flat; and converting shipments were down 2.8 percent. The operating rate for May decreased to 85.2 percent compared to 88.4 percent in April. Inventory levels decreased 2.3 percent from April.
Total boxboard monthly production decreased 4.6 percent when compared to May 2018. The total boxboard operating rate was 91.1 percent for May. Total Solid Bleached Boxboard and Liner production was up 0.2 percent year to date; Recycled Boxboard production rose 0.2 year to date; and Unbleached Kraft & Gypsum declined 1.2 percent year to date.
Containerboard production in May 2019 decreased six percent compared to May 2018 and was down 4.5 percent year-to-date. The average daily production compared to April 2019 was 0.9 percent higher. The containerboard operating rate increased slightly from 91.5 percent in April to 91.9 percent, as the total linerboard rate rose above 90 percent for the first time since January. In spite of the bounce back in the last couple of months, the May operating rate was 6.7 points lower than the same month last year and the year-to-date operating rate was down six points compared to last year. Production for export, most of which is liner, was down nearly 18 percent year-over-year and nearly 20 percent year-to-date.
Oil prices surged Thursday, rising in step with other perceived riskier assets following hints that the Federal Reserve could cut interest rates in the coming months and on news that Iran shot down a U.S. military drone. Data Wednesday that showed falling U.S. supplies and a firmer date in place for an Organization of the Petroleum Exporting Countries meeting to review its pledged production limits were also price-supportive. Click Read More below for additional information.
The first e-reader was released in 1998, and it looked like the beginning of the end of the printed page. But today, paper books just as popular as ever. According to the Association of American Publishers, e-book sales haven’t diminished the popularity of paper books. Today, e-books comprise just 20–30 percent of book sales. In fact, e-book sales declined 4.9 percent in January 2019, compared to the same period in 2018. Here are five reasons people still choose paper books over their digital counterparts: 1.Better Sensory Experience — The feel of paper matters when reading a book. 2.Better for children — Studies have shown that babies and children learn better with paper books. 3.Better for your health — According to a Harvard Medical School study, reading a light-emitting e-book before bed hinders your ability to sleep, decreases your alertness the next morning and negatively affects your overall health. 4.Better at conveying information — A study reported in the Guardian concluded that people using e-readers were less likely to recall events in a short story than people who read the same story in print. 5.Better price point — E-readers can cost upwards of $100, a large investment for someone who can get a much more affordable paperback novel for less than $15 or, better yet, borrow a book at the library for free. Click Read More below for additional information.
Advantage Business Marketing—the Rockaway, N.J.-based B2B media company formerly known as Advantage Business Media until rebranding in a last-ditch pivot to marketing services a year ago—abruptly shut its doors this week, notifying its more than 50 employees that they were out of a job, effective immediately, and would not be receiving severance packages, according to multiple sources. The private equity-backed publisher of titles like R&D Magazine, Laboratory Equipment and ECN, among several others, didn’t respond to voicemails or emails (repeated calls to its corporate offices went unanswered), but current and former staffers as well as others close to the situation say that employees were notified on Monday that ABM was ceasing operations after 13 years and filing for bankruptcy protection. Click Read More below for additional information.
Pier 1 Imports, Inc. announced that at its 2019 annual meeting of shareholders held on June 19, 2019, Pier 1’s shareholders approved a proposal authorizing the Company’s Board of Directors to effect a reverse stock split at a ratio of 1-for-5, 1-for-10 or 1-for-20, and to reduce the number of authorized shares of common stock by a corresponding ratio, at any time prior to the Company’s annual meeting of shareholders to be held in 2020, as determined by the Board of Directors in its sole discretion. The Company reported that 53,284,243 votes were cast “For” the proposal, representing 62.67% of the Company’s outstanding shares entitled to vote at the 2019 annual meeting of shareholders. The objective of the reverse stock split is to enable Pier 1 to regain compliance with the NYSE minimum share price continued listing rule and maintain its listing on the NYSE. As previously announced, Pier 1 can regain compliance with the NYSE minimum share price requirement if on the last trading day of any calendar month during the six-month cure period, or on the last day of the six-month cure period on July 11, 2019, the Company has a closing share price of at least $1.00, and an average closing share price of at least $1.00 over the 30 trading-day period ending on such date. Click Read More below for additional information.
REI Co-op is launching a new venture to lift up environmental and outdoor journalism through the debut of its own print magazine this fall, and a new partnership to channel matching funds directly to local, nonprofit newsrooms covering crucial issues facing the outdoors. The 81-year-old retailer will retire its full-price mail-order catalog in favor of Uncommon Path – a print magazine published by Hearst Magazines in collaboration with an in-house team of journalists and editors at REI. Beginning this fall, Uncommon Path will be available at all 155 REI stores and in select newsstands nationwide. Co-op leaders announced the news at Outdoor Retailer Summer Market in Denver, citing the belief that the co-op can better inspire a life outdoors for all by supporting compelling storytelling – both through its own channels and by supporting independent nonprofit journalists in communities across the country. “Uncommon Path tells the stories of the experiences, the events, issues and ideas that shape the relationship between people and life outside,” said Ben Steele, REI’s executive vice president and chief customer officer. Click Read More below for additional information.
TC Transcontinental Packaging is thrilled to announce that it has won the entire Sustainable Packaging category at the 2019 PAC Canadian Leadership Awards with the Harney & Sons Fine Teas and Les Aliments Jardi 100% recyclable packages with barrier. Once again, TC Transcontinental Packaging leads the way in sustainability and demonstrates its commitment to creating innovative eco-responsible solutions and packaging that sustains the earth. These awards fully support the Corporation’s pledge for 100% of its plastic packaging to be reusable, recyclable or compostable by 2025. Additionally, TC Transcontinental Packaging won a Silver award in the Rebrand, Food & Beverage category for the Diamond Brand Shelled Walnuts pouch as well as a Silver award in the Rebrand, Non Food category for its expertise in pre-press and structural design with the Golfgreen Nitrogrow pouch from Canadian Tire. Click Read More below for additional information.