KKR Completes Purchase Of Simon & Schuster (mediapost.com)

Barnes & Noble, Inc. announced that James Comey’s A Higher Loyalty is the top-seller in stores nationwide and online at BN.com just one day after the book’s release. “A Higher Loyalty was an instant bestseller before it ever arrived in our stores,” said Liz Harwell, Senior Director of Merchandising, Trade Books at Barnes & Noble. “Now that it’s here it is flying off the shelves. It’s one of the best pre-publication rollouts we’ve seen in many years, due to all of the publicity surrounding the book ahead of its publication yesterday.”

Overall, the Postal Service’s total investment in vehicles is expected to reach $9.6 billion, including $3 billion from Inflation Reduction Act (IRA) funds. The December 2022 plan announced intended acquisitions over the next five years of a 75 percent electric fleet of Next Generation Delivery Vehicles (NGDV). Acquisitions of NGDV after 2026 will be 100 percent electric. As part of the earliest stages of the delivery vehicle replacement plan, a contract for 9,250 commercial-off-the-shelf (COTS) internal combustion engine vehicles will also be concurrently awarded to fill the urgent need for vehicles. The specific locations for deployment of the vehicles and infrastructure have not yet been finalized and will depend on route characteristics, including whether a left-hand drive vehicle is mission-suitable as well as other business considerations. The Postal Service plans to begin building out its charging infrastructure across a minimum of 75 locations within the next 12 months, and thereafter to continue the infrastructure build out in the succeeding years at many additional facilities as a part of our delivery vehicle electrification strategy.

Total reported sales for the second quarter of 2021 were $2.3 billion, an increase of 6% compared to the second quarter of 2020. The year-over-year increase in revenue was partially driven by stronger business activity as the public sector returned to work and schools began to return to in-class learning. Product sales in the second quarter were up 6% relative to the prior year period, driven by stronger demand for core supply product categories, workspaces and technology. Service revenue in the first quarter was up 8%, largely related to stronger demand for managed print and fulfillment, as well as copy and print services in both BSD and Retail Divisions. The Company reported operating loss of $78 million in the second quarter of 2021, compared to operating loss of $456 million in the prior year period. GAAP operating results in the second quarter included $122 million of charges including $115 million of non-cash asset impairment charges, and $7 million in net merger, restructuring and other operating costs. Asset impairment charges of $115 million in the second quarter of 2021 included $114 million related to impairment of goodwill and other intangible assets at CompuCom, largely related to the macroeconomic effects of COVID-19 on current business conditions. Net merger, restructuring and other operating costs of $7 million were primarily associated with the planned separation of B2B operations. Net loss was $88 million, or $(1.62) per diluted share in the second quarter of 2021, compared to net loss of $439 million, or $(8.19) per diluted share in the second quarter of 2020.