Prima Editor Jo Checkley on meeting increased demand for print magazines (voices.media)

Learning Company Houghton Mifflin Harcourt (HMH) reinforced its commitment to racial justice with a major book donation aimed at amplifying Black voices while getting books into hands of children and families in need. HMH is in the process of donating over 50,000 titles by Black authors to more than 15 youth-serving nonprofit organizations across the United States. Donated through HMH’s Books for Equity initiative, the curated list of titles explores issues of race and features Black main characters, including works by Toni Morrison, Kwame Alexander, Nana Kwame Adjei-Brenyah, Margaret Walker, Melba Pattillo Beals and many more. Recipients of the donations include City Year, Girls Write Now, Boys & Girls Club of Harlem, Communities In Schools of Central Texas, and more.

Costco Wholesale Corporation reported net sales of $22.86 billion for the retail month of June, the five weeks ended July 2, 2023, an increase of 0.4 percent from $22.78 billion last year. For the forty-four weeks ended July 2, 2023, the Company reported net sales of $196.93 billion, an increase of 4.6 percent from $188.34 billion during the similar period last year.

A summary of results for the third quarter ended October 29, 2022 as compared to the third quarter ended October 30, 2021: *Net sales of $880 million, down 3% as compared to last year on a reported basis and approximately flat on a constant currency basis. *Gross profit rate of 59.2%, down approximately 450 basis points as compared to last year. The year-over-year decrease was primarily driven by 370 basis points of higher freight and raw material costs and 60 basis points from the adverse impact of exchange rates. *Operating expense, excluding other operating income, net, approximately flat compared to last year, with decreases in marketing and incentive-based compensation, offset by higher inflation and digital fulfillment expenses. Operating expense as a percentage of sales increased to 57.2% from 55.8% last year. *Operating income of $18 million and $21 million on a reported and adjusted non-GAAP basis, respectively, as compared to operating income of $73 million and $79 million last year, on a reported and adjusted non-GAAP basis, respectively.