The Coalition for Paper Options – an alliance of consumer organizations, labor unions, rural advocates, and print communications industry organizations which recognize the need to preserve access to important paper-based information and services for Americans who prefer them or depend on them – today applauded the introduction of the Know Your Social Security (KYSS) Act, new bipartisan legislation that would require the Social Security Administration (SSA) to reinstate the mailing of annual Statement of Earnings, which are currently only available online for workers under age 60. The bill was introduced in the U.S. House of Representatives by Reps. John Larson (D-CT) and Vern Buchanan (R-FL) and in the U.S. Senate by Senators Ron Wyden (D-OR) and Bill Cassidy (R-LA).
Oil prices fell on Monday after data showed Chinese exports declined for a fourth straight month, sending jitters through a market already concerned about damage being done to global demand by the trade war between Washington and Beijing. Monday’s sudden chill came after customs data released on Sunday showed exports from the world’s second-biggest economy in November fell 1.1% from a year earlier, confounding expectations for a 1% rise in a Reuters poll.
Sonoco expects fourth-quarter and full-year 2019 GAAP earnings of $0.54 to $0.64 and $2.98 to $3.08 per diluted share, respectively. The full-year range includes amounts previously disclosed by the Company of approximately $0.34 per diluted share, after-tax, largely consisting of restructuring and non-operating pension costs partially offset by a gain relating to the release of an environmental reserve. These GAAP guidance ranges also reflect the anticipated fourth-quarter impact of estimated after-tax restructuring charges and non-operating pension costs. Fourth-quarter and full-year 2019 base earnings are expected to be $0.72 to $0.76 and $3.50 to $3.54 per diluted share, respectively, which reaffirms the Company’s previously communicated guidance.
Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $13.62 billion for the retail month of November, the four weeks ended December 1, 2019, an increase of 6.7 percent from $12.77 billion last year. For the twelve-week first quarter ended November 24, 2019, the Company reported net sales of $36.24 billion, an increase of 5.6 percent from $34.31 billion last year. For the thirteen weeks ended December 1, 2019, the Company reported net sales of $39.95 billion, an increase of 6.3 percent from $37.57 billion during the similar period last year.
The National Paper Trade Association (NPTA) is pleased to announce that Mike Graves of Midland Paper, Packaging + Supplies is the recipient of the 2020 Stanley O. Styles Industry Excellence Award. Mr. Graves’s impact on the industry is marked by his steadfast leadership, dedication to the Industry, innovative ideas, strong sense of ethics, generosity and willingness to lend a hand, which make him more than deserving of NPTA’s highest honor. In 2002, he came to Midland Paper, Packaging + Supplies as the GM of the Chicago division. He was soon appointed Chief Operating Officer of the company before becoming President and an equity partner. As the Chief Executive Officer, he now oversees all of Midland’s commercial printing relationships, vendor relationships, the packaging and specialty paper segments and Midland’s 16 distribution facilities. Mr. Graves is credited with being a major catalyst of Midland’s growth and success, going from a regional Midwest fine paper distributor to a national distributor of fine papers, packaging and specialty media.
For the Third Quarter of Fiscal 2019 • Net sales increased 7.9% to $1,682.5 million compared to $1,560.0 million in the third quarter of fiscal 2018; • Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 3.2% compared to an increase of 7.8% in the third quarter of fiscal 2018. The 3.2% comparable sales increase was driven by 2.3% transaction growth and 0.9% growth in average ticket; • Net income was $129.7 million compared to $131.2 million in the third quarter of fiscal 2018.
The holiday season is the time for nostalgia and tradition, and that is the case here at PYMNTS, where even amid our coverage of the newest retail trends, we sometimes get the warm-and-fuzzies. It led us to wonder, going into the heart of the fourth quarter and then into 2020, about the status of that old standby, the retail catalog. Those old-fashioned methods of selling might have more life in the eCommerce age than many assume – thanks in large part, according to experts, to younger consumers’ desire for non-digital shopping experiences and the need for retailers to stand out from the pack. Whatever the reasons, catalogs have seen renewed life in this digital age, and will probably be a source of some innovation going forward into the new decade.
National Average Price for Regular Unleaded Current: $2.589; Month Ago: $2.623; Year Ago: $2.443. National Average Price for Diesel Current: $3.004; Month Ago: $3.009; Year Ago: $3.130.
American Dollar to Canadian Dollar = 0.758942; American Dollar to Chinese Yuan = 0.142247; American Dollar to Euro = 1.109302; American Dollar to Japanese Yen = 0.009211; American Dollar to Mexican Peso = 0.051659.
Oil futures headed lower Friday as OPEC and other major producers of crude aim to ratify a deeper reduction of output that has been agreed upon in principle but must be unanimously approved by the cartel’s 14-member group. Reports have indicated that the Organization of the Petroleum Exporting Countries and big exporters of oil like Russia in an annual meeting in Vienna have recommended cutting production by 500,000 barrels a day, much deeper than had previously been anticipated by experts.