Second Quarter 2016 Highlights • Staples Business Advantage, the company’s North American contract business, achieved sales growth of one percent on a GAAP basis and three percent on a local currency basis after excluding a negative impact of approximately two percent due to the sale of the company’s Staples Print Solutions business during the second quarter of 2016. • Excluding pre-tax charges of $953 million during the second quarter of 2016 and $34 million during the second quarter of 2015, the company improved operating income rate by 14 basis points on a non-GAAP basis. • Grew operating income in North American Commercial by $8 million, or six percent, and improved operating income rate by 40 basis points versus the second quarter of 2015. • Reduced operating losses in International Operations by $8 million, and improved operating income rate by 91 basis points versus the second quarter of 2015. click Read More below for additional detail
Condé Nast has a new owner for another one of its titles. This time, Brides sold to Dotdash, a digital media company based in the U.S. Terms of the agreement were not made public.
Under the new ownership, Brides’ August/September issue will be its last printed in the U.S. and its September/October issue will be the last printed in the U.K. Instead, Dotdash will invest in growing its coverage online and across platforms.
Most recently, Brides, which was founded 85 years ago, had a circulation of about 302,000, according to an average reported in December by the Alliance for Audited Media. When it was first reported that Condé would unload three of its brands, including Golf Digest (which sold earlier this week to Discovery) and W (still on the market), experts told Adweek that Brides, in particular, struggled to remain a relevant and thriving brand serving the wedding space with a slew of digital media companies filling that void, like The Knot.