The New York Times Company announced third-quarter 2020 diluted earnings per share from continuing operations of $.20 compared with $.10 in the same period of 2019. Adjusted diluted earnings per share from continuing operations (defined below) was $.22 in the third quarter of 2020 compared with $.12 in the third quarter of 2019. Operating profit increased to $39.6 million in the third quarter of 2020 from $25.1 million in the same period of 2019 and adjusted operating profit (defined below) increased to $56.5 million from $44.1 million in the prior year, as higher digital-only subscription revenues and lower costs more than offset lower advertising revenues. Subscription revenues in the third quarter of 2020 rose due to growth in the number of subscriptions to the Company’s digital-only products, which include our news product, as well as our Cooking, Games (previously Crossword) and audio products. Revenue from digital-only products increased 34.0 percent, to $155.3 million. Print subscription revenues decreased 3.8 percent to $145.7 million largely due to lower retail newsstand revenue, while revenue from our domestic home delivery subscription products grew 2.5 percent.
*Third quarter net sales and earnings exceed expectations and company raises full year 2021 financial outlook
*Third quarter net sales increase 15.5%; third quarter comparable sales increase 14.7%
*Record third quarter diluted earnings per share of $1.65 and company raises full year 2021 guidance to $7.10 to $7.30
*Repurchased $506 million of shares in the quarter and now plans to repurchase $1.3 billion of shares in 2021
*Ended the quarter in a strong financial position with $1.9 billion in cash
“Our strategic efforts to transform Kohl’s into the leading destination for the active and casual lifestyle continue to build momentum. We delivered another quarter of record earnings with both sales and margins exceeding expectations. During the quarter, we drove accelerated growth in Active and successfully launched several new brand partnerships, including the initial rollout of 200 Sephora at Kohl’s stores, which are off to a great start,” said Michelle Gass, Kohl’s chief executive officer.
“All of the pieces of our strategy are coming together and we remain incredibly confident in the future of our business. We are raising our full year 2021 guidance and continue to accelerate our share repurchase activity, reinforcing our commitment to driving shareholder value,” said Gass.
details at: https://investors.kohls.com/news-releases/news-details/2021/Kohls-Reports-Third-Quarter-Fiscal-2021-Financial-Results/default.aspx