Examining Paper Shortages and Publishing Worker Unrest (publishersweekly.com)

The U.S. Postal Service reported revenue of $16.7 billion for the third quarter of fiscal year 2017 (April 1, 2017 - June 30, 2017). Revenue for the quarter was essentially unchanged compared to the same quarter last year, excluding the effect of a $1.1 billion non-cash change in accounting estimate recognized during the third quarter of fiscal year 2016. Revenue from First-Class Mail and Marketing Mail decreased $422 million and $150 million, respectively, over the prior year quarter, due largely to lower volumes. These declines in revenue for these products were nearly offset by continued growth in the lower-margin Shipping and Packages business, with third quarter revenue increasing $473 million, or 11.3 percent, in that part of the Postal Service's business. Operating expenses for the quarter were $18.8 billion, a decrease of $461 million, or 2.4%, compared to the prior year quarter. Expenses for retiree health benefits and workers compensation declined by $869 million and $1.0 billion, respectively, but were partially offset by $1.2 billion in higher retirement expenses largely driven by changes in Office of Personnel Management actuarial assumptions and interest rates. Click Read More below for additional detail.

Fourth Quarter 2023 Results: Net sales decreased 1.1% year-over-year, to $5.7 billion. The fourth quarter included net sales of approximately $164 million from the 14th week. Comparable sales, which compare the 13-week period ending January 27, 2024 versus the 13-week period ended January 28, 2023, decreased 4.3%. Operating income was $299 million compared to $302 million loss in the prior year. As a percentage of total revenue, operating income was 5.0%, an increase of 1,005 basis points year-over-year. Net income was $186 million, or $1.67 per diluted share. This compares to net loss of $273 million, or ($2.49) per diluted share in the prior year.

Amazon today announced plans to open Amazon HQ2, a second company headquarters in North America. Amazon expects to invest over $5 billion in construction and grow this second headquarters to include as many as 50,000 high-paying jobs. In addition to Amazon’s direct hiring and investment, construction and ongoing operation of Amazon HQ2 is expected to create tens of thousands of additional jobs and tens of billions of dollars in additional investment in the surrounding community. Amazon is opening the Amazon HQ2 Request for Proposal (“RFP”) now, and local and state government leaders interested in learning more about how they can bring Amazon to their community can visit www.amazon.com/amazonHQ2.