Print buyers warned over delivery delays (printweek.com)

Sales increased 3% to $302.8 million, compared to $293.6 million during the same period last year. As previously disclosed, our 2023 results were impacted by the stop sale of certain soft coolers included in the voluntary recalls. Gross profit increased 5% to $161.9 million, or 53.5% of sales, compared to $154.9 million, or 52.7% of sales, in the first quarter of 2022. Gross profit was positively impacted by lower inbound freight, partially offset by higher product costs and the unfavorable impact of foreign currency exchange rates. Gross profit also included a $1.2 million, or 40 basis points, favorable impact from adjustments to inventory reserves related to the voluntary recalls. Net income decreased 59% to $10.6 million, or 3.5% of sales, compared to $25.7 million, or 8.7% of sales in the prior year quarter.

Q2 2022 HIGHLIGHTS * Dotdash Meredith revenue increased 568% year-over-year to $490 million, benefitting from the Meredith acquisition. o Digital revenue was $235 million and Print revenue was $260 million. o Operating loss of $28 million and Adjusted EBITDA of $39 million in Q2 2022. * Angi Inc. revenue increased 23% year-over-year to $516 million, the 7th consecutive quarter of double-digit growth and highest quarterly growth since 2018. o Angi Ads and Leads revenue increased 5% year-over-year, the first quarter of growth since Q2 2021. o Angi Services revenue was $151 million o Monetized Transactions were 4.7 million and Transacting Service Professionals were 220,000. o Operating loss improved to $21 million (compared to a loss of $33 million in Q2 2021) and Adjusted EBITDA improved to a profit of $10 million (compared to a loss of $4 million in Q2 2021).

Kevin Mansell, Kohl's chairman, chief executive officer and president, said, “We are very pleased with our Holiday period sales, which were consistently strong through November and December. All lines of business and all regions reported positive comp sales. As expected, growth in digital demand accelerated significantly in the Holiday period from the year-to-date trend. In addition, we experienced positive sales in our stores driven by stronger traffic. I’d like to thank every Kohl’s associate across the organization for their commitment to delivering an outstanding Holiday experience for our customers.” Based on stronger than expected Holiday sales and expectations for fiscal January, the Company now expects its fiscal 2017 diluted earnings per share to be $4.10 to $4.20 versus its previous guidance of $3.72 to $3.92. Excluding the Company's previously disclosed fourth quarter tax settlement of $30 million, diluted earnings per share is expected to be $3.98 to $4.08, compared to its prior guidance of $3.60 to $3.80.