Average USPS Mail Delivery Time Nationally Since January: 2.7 Days

Xerox Vice Chairman and CEO John Visentin sent a letter to Fujifilm Chairman Shigetaka Komori responding to the lawsuit filed by Fujifilm last week. “Fujifilm should realize that the internal accounting issues at Fuji Xerox were a result of their mismanagement, which made it impossible to close the announced transaction” said Visentin. “We cannot stand by and let them further harm our iconic brand. The lawsuit is nothing more than a desperate and misguided negotiating ploy to save their takeover attempt, which to this day remains enjoined by order of the New York State Supreme Court, and could take our focus away from serving our customers.” “Our focus is on running the business in the service of our thousands of customers and partners and delivering exceptional value through market-leading services, products and delivery capabilities,” added Visentin. Click Read More below for additional information.

Total Company net sales for the three months ended January 31, 2023, increased 3.9% to a record $1.38 billion. Total Retail segment net sales increased 2%, with comparable Retail segment net sales increasing 3%, partially offset by a 1% negative impact of foreign currency translation. The increase in Retail segment comparable net sales was driven by mid- single-digit positive growth in retail store sales and low single-digit positive growth in digital channel sales. By brand, comparable Retail segment net sales increased 15% at the Free People Group and 9% at the Anthropologie Group and decreased 10% at Urban Outfitters. Wholesale segment net sales decreased 7% driven by a 13% decrease in Free People Group wholesale sales due to a decrease in sales to department stores partially offset by growth in specialty and close out account partners, while Urban Outfitters wholesale sales increased by $3 million. Nuuly segment net sales increased by $25.5 million driven by a 149% increase in our subscribers as of the current quarter end versus the end of the prior year’s comparable quarter.

Today, House Members Kenny Marchant (R-TX) and Brian Higgins (D-NY) penned a letter to Commerce Secretary Wilbur Ross and U.S. Trade Representative Robert Lighthizer regarding the softwood lumber trade with Canada, calling for renewed negotiations with Canada for a softwood lumber trade agreement -- in lieu of the current enforcement of the U.S. trade laws through countervailing and antidumping duties on imports of unfairly traded Canadian softwood lumber. The letter states that anti-dumping and countervailing duties imposed by the U.S. Department of Commerce on Canadian softwood lumber are the chief driver of current lumber prices, a claim that is inaccurate. The price of lumber, like all commodities, fluctuates due to market forces. The trade measures -- imposed after a thorough year-long investigation by the U.S. Department of Commerce and the International Trade Commission -- are designed merely to offset the harm done to domestic producers from imports that are sold in the United States at less than fair value or which benefit from subsidies provided through foreign government programs. Click Read More below for additional information.