Costco Wholesale Corporation Announces Reauthorization of Stock Repurchase Program and Quarterly Cash Dividend

Intense demand for the book has caught its publisher, Henry Holt, off guard as the Macmillan imprint scrambles to get copies into the marketplace. Gauging a book's traction in the marketplace and setting its print run is, arguably, one of the trickiest aspects of the publishing process. And Holt, in this instance, got it very wrong. Fire and Fury, which became a hot commodity last week after bombshell comments it contained from former (and current) White House staffers were released early by the media, is currently out-of-stock at the major chains, Amazon and independent bookstores. It's available in limited supply at most libraries. Amazon said in a statement that "due to a last-minute change in the release date [of the book] and heightened interest, we are working with the publisher to fulfill print book orders as quickly as possible." The book is currently #1 in all major formats at the retailer (print, e-book and audio), with Amazon estimating it could be as much as two to four weeks before it can ship copies. Click Read More below for additional information.

Gannett Co., Inc. announced that it has refinanced approximately $500 million of its 11.5% term loan, maturing in 2024, with 6.0% convertible notes due in 2027. The refinancing reduces the outstanding term loan to $1.118 billion. “We are pleased to announce the refinancing, which we believe has three key benefits,” said Michael Reed, Gannett Chairman and Chief Executive Officer. “First, it generates significant savings, reducing our annual interest expense by approximately $28 million per year. These savings will be used to accelerate repayment of our term loan. Second, we believe that this refinancing paves the way for a refinancing of the remaining term loan by reducing the outstanding balance. And third, it extends the maturity of approximately $500 million of debt by three years. Since putting the term loan in place in November 2019, we have repaid over $175 million to date, and we expect to repay an additional $100 million in the coming months. Pro forma for these repayments, the outstanding term loan will be approximately $1 billion, which we believe we can refinance on attractive terms by the end of the first half of 2021. As we improve the Company’s capital structure, we are also seeing continued improvement in our revenue trends, which we expect will drive strong fourth quarter results.”

Shane Wolf, L’Oréal’s global manager for Redken, Pureology and Mizani, is heading up a new project focused on seed diversity, small-scale organic farmers and sustainability. Seed Phytonutrients came to fruition due to a culmination of partners dedicated to creating a brand with four cores objectives: seed diversity, supporting organic farmers, promoting natural beauty and leading sustainability. Not only is the product sustainable and organic, but the packaging is also uniquely qualified to help the planet. The external shell is 100% paper-based and is recyclable and compostable. Shane Wolf tells Two Sides UK how important it was to use paper-based packaging for this brand and the positive impact it will have on the planet. Click Read More below for additional information.