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).
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 Association of Magazine Media has released a five-year study on magazine media audience trends. The biggest finds from the report: Magazine media has reached a total audience of 2 billion and is more engaging to consumers online than non-magazine brands. (Magazine brands are defined in the study as titles traditionally founded on a print product.) The report found that 81% of the time, audiences to magazine media sites are more engaged than those consuming similar content on non-magazine brand sites.
The Postal Regulatory Commission (Commission) issued a revised notice of proposed rulemaking aimed at modifying the system for regulating rates and classes for Market Dominant products. This revised rulemaking takes into consideration comments received after the first rulemaking in December 2017, and further consideration by the Commission. The Postal Accountability and Enhancement Act (PAEA) requires the Commission to review the first 10 years of the existing Market Dominant rate and classification system to determine if the system achieved the nine objectives, considering the 14 factors, established by Congress. The objectives reflect the goals of the PAEA to create a flexible, stable, predictable, and streamlined ratemaking system that ensures the Postal Service’s financial health and maintains high-quality service standards and performance. In its first order, the Commission determined that the overall system created by the PAEA had not achieved the objectives taking into account the factors of the PAEA and proposed to amend several parts of title 39 of the Code of Federal Regulations to achieve the objectives of 39 U.S.C. 3622(b). In this revised rulemaking, the Commission proposes new changes to the regulations and modifies and clarifies previous proposals. Click read more below for details.
Highlights • GAAP Results: Revenue of $466 million (+4%) • Strong growth in Research and Education Services segments • Academic & Professional Learning decline reflecting market pressures in book publishing • Efficiency improvements and cost savings through business optimization. Second Quarter Revenue • Research Publishing & Platforms increased 2% as reported and 4% at constant currency, primarily driven by growth in open access publishing volume. • Academic & Professional Learning declined 6% as reported and 5% at constant currency, with a decline in book publishing offsetting growth in test preparation. Excluding the zyBooks and Knewton acquisitions, organic revenue declined 10% as reported and 9% at constant currency. • Education Services increased 80% (reported and constant currency), driven by organic growth of 10% and the addition of Learning House (acquired November 2018).
•Total revenues increased 1% to $625.6 million. Comparable company sales increased 3% following an increase of 8% in the third quarter last year. •J.Crew sales decreased 4% to $415.8 million. J.Crew comparable sales were flat following an increase of 4% in the third quarter last year. •Madewell sales increased 13% to $151.6 million. Madewell comparable sales increased 10% following an increase of 22% in the third quarter last year. •Operating income was $11.5 million compared to $32.7 million in the third quarter last year. Operating income this year was impacted by transaction costs and non-cash impairment charges. The third quarter last year reflects the impact of the benefit related to the lease termination payment. •Net loss was $19.9 million compared to $5.7 million in the third quarter last year. Net loss this year was impacted by transaction costs and non-cash impairment charges.
Amazon is committed to major investments in renewable energy as a critical step toward addressing the company’s carbon footprint globally, and Amazon’s newest renewable energy project in Europe will be the company’s first large-scale project in Spain, located southeast of Sevilla. Once complete, the new solar farm will provide 149 megawatts (MW) of new renewable capacity. Amazon’s newest renewable energy solar projects in the US will be located in Lee County, Illinois and in Northern Virginia. Together, they total 180 MW and are expected to generate almost 400,000 MWh of renewable energy annually. This will be Amazon’s first large-scale renewable energy project in the state of Illinois and ninth in the Commonwealth of Virginia.
To achieve its renewable energy goal, Ralph Lauren plans to pursue a combination of virtual power purchase agreements (VPPAs) in North America as well as assess a select number of U.S. sites for onsite solar power installations. For the remaining electricity use, the company will purchase green power products, including renewable energy certificates (RECs), guarantees of origin (GoOs) and international renewable energy credits (I-RECs). In addition, and ahead of the upcoming United Nations Climate Change Conference (COP 25) in Madrid, Ralph Lauren affirmed its commitment to the Paris Agreement by joining the “We Are Still In” coalition and signed a joint letter, along with a number of leading companies and CEOs, urging the U.S. government to remain a signatory to the agreement.