Domestic revenue of $8.48 billion increased 0.8% versus last year. The increase was driven by comparable sales growth of 1.3% and revenue from GreatCall, Inc. (“GreatCall”), which was acquired in Q3 FY19, partially offset by the loss of revenue from 105 Best Buy Mobile and 12 large-format store closures in the past year. Domestic gross profit rate was 23.7% versus 23.3% last year. The gross profit rate increase of approximately 40 basis points was primarily driven by the impact of GreatCall’s higher gross profit rate and improved product margin rates, which include the benefit of gross profit optimization initiatives. These favorable items were partially offset by higher supply chain costs. International revenue of $661 million decreased 5.2% versus last year. This decline was primarily driven by the impact of approximately 390 basis points of negative foreign currency exchange rates and a comparable sales decline of 1.2%, which was driven by Canada. International gross profit rate was 24.2% versus 23.4% last year. The gross profit rate increase of approximately 80 basis points was primarily due to Canada, which delivered improved gross profit rates in several product categories and increased revenue in the higher margin rate services category. Click "read more" below for additional information.
Hearst Magazines today announced that James Wildman has been named president of Hearst Magazines Europe. Wildman, who has been president and chief executive officer of Hearst Magazines UK—publisher of Cosmopolitan, ELLE, Esquire, Good Housekeeping and Harper’s BAZAAR—adds oversight of Hearst Magazines in Italy, the Netherlands and Spain to his responsibilities. The announcement was made by Hearst President and CEO Steven R. Swartz and Hearst Magazines President Troy Young, to whom Wildman will continue to report.
“James is an enterprising leader who immediately made a positive impact on our U.K. business,” Young said. “His passion for our industry coupled with his keen understanding of the European market will enable him to further advance our growth overseas, an increasingly important focus for us.”
Since joining Hearst Magazines UK in 2017, Wildman has led the business forward by accelerating the company’s revenue diversification and digital strategy, expanding its data capabilities and consumer event offerings and transforming the company’s culture.
more at: https://www.hearst.com/newsroom/james-wildman-elevated-to-president-of-hearst-magazines-europe