June Starts with a 4.1% Gain in Print Unit Sales (publishersweekly.com)

Torstar Corporation announced today it has joined with Golf Town Limited to create a new partnership to acquire SCOREGolf Magazine, including all SCOREGolf content and related assets. SCOREGolf, which started in 1980, is a Canadian media brand that includes SCOREGolf Magazine, the largest circulated golf publication in Canada, as well as SCOREGolf.com, television and video content production, and the ranking of Canada’s Top 59 public golf courses and Top 100 golf courses.

For the Three Months Ended January 2, 2021 (14 Week Period): Net sales increased 26% to $375.8 million, compared to $297.6 million during the same period last year. Gross profit increased 39% to $224.8 million, or 59.8% of net sales, compared to $162.3 million, or 54.5% of net sales, in the fourth quarter of Fiscal 2019. Operating income increased to $81.4 million, or 21.7% of net sales, compared to $12.0 million, or 4.0% of net sales, during the prior year quarter. For the Twelve Months Ended January 2, 2021 (53 Weeks): Net sales increased 19% to $1,091.7 million, compared to $913.7 million in the prior year. Gross profit increased 32% to $628.8 million, or 57.6% of net sales, compared to $475.3 million, or 52.0% of net sales, in the prior year. Operating income increased 139% to $214.2 million, or 19.6% of net sales, compared to $89.8 million, or 9.8% of net sales, during the prior year.

UPS announced that it has entered into an agreement to acquire Happy Returns from PayPal. Happy Returns is a U.S.-based software and reverse logistics company that enables frictionless, no-box, no-label returns for merchants and consumers. “We know that returns have long frustrated shoppers and retailers looking for quick and easy solutions,” UPS CEO Carol B. Tomé said. “By combining Happy Returns’ easy digital experience and established drop-off points with UPS’s small package network and footprint of close to 5,200 The UPS Store locations, box-free, label-free returns will soon be available at more than 12,000 convenient locations in the U.S.” “Joining the UPS team is a win for both our employees and our customers,” said Happy Returns CEO and co-founder David Sobie, who will continue to lead the business for UPS after the deal closes. “In recent years, the growth of Happy Returns has accelerated, and we’ve built an enterprise-grade solution. This new chapter is a natural next step for Happy Returns and allows us to harness the power of the UPS network to transform the returns industry.”