UPS reported second-quarter earnings that were ahead of analyst estimates, even though revenue was slightly below expectations, the latter hurt by the strong dollar and the continuing decline in fuel surcharges due to lower oil prices. Yields were helped on the pricing side by the annual general rate increase, new dimensional weight charges and other surcharges. The company’s Q2 revenue was $14.1 billion, down 1.2% percent from 2014. The adjusted earnings per share figure was $1.35, well ahead of the analyst consensus of $1.26 per share; it was up 175% from 49 cents in the year-ago quarter. Revenue for UPS’s domestic package business was $8.81 billion, up 1.6% from $8.67 billion in 2014.
F+W Media has established a new standalone book group, naming Heidi Sachner as head of books. Joining Sachner in the group are F+W fine arts editor Pam Wissman who has been promoted to executive director, heading up the editorial and design teams across all communities, and Greg Nock who has been promoted to production director.
Under the new structure, all book publishing in F+W’s various communities, such as crafts and art instruction, will be overseen by Sachner. Greg Osberg, who took over as CEO of F+W in January, said the new structure, which also affects the company’s magazine and digital formats, is designed to bring more expertise to each product line.
While each community will have employees dedicated to working on books, Sachner and her team will have a “horizontal view” of all the books being published by the different verticals. She will also approve all new projects.
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