Emmis Communications has sold Texas Monthly for $25 million to private equity firm Genesis Park. The deal, which includes the magazine, its archives, and a custom publishing business, is expected to close in November. "Texas Monthly has been a member of the Emmis family for 18 years, so today is bittersweet," Jeff Smulyan, chairman and CEO of Emmis, said in a press release. "This transaction allows us not only to de-lever our balance sheet, but puts Texas Monthly in the capable hands of one of Texas' great families, the Hobbys." Texas Monthly is the first magazine sold since Emmis revealed plans to offload its magazine properties in August. The publicly traded company is looking to privatize and reduce its debt by focusing on radio assets. click Read More below for more of the story
Imports at the nation’s major retail container ports reached unusually high numbers before new tariffs on goods from China took effect on September 1 and are expected to surge again before another round of tariffs takes effect in December.
That’s according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates. New 15% tariffs on a wide range of consumer goods from China took effect at the beginning of this month and are scheduled to be expanded to additional goods on December 15 – covering a total of about $300 billion in imports. In addition, 25% tariffs on $250 billion worth of imports already imposed over the past year will increase to 30% on October 1.
“Retailers are still trying to minimize the impact of the trade war on consumers by bringing in as much merchandise as they can before each new round of tariffs takes effect and drives up prices,” stated NRF VP for supply chain and customs policy Jonathan Gold. “That’s the same pattern we’ve seen over the past year, but we’re very quickly going to be at the point where virtually all consumer goods will be subject to these taxes on American families.”
U.S. ports covered by Global Port Tracker handled 1.96 million twenty-foot equivalent units in July, the latest month for which after-the-fact numbers are available. That was up 9.1% from June and up 2.9% year-over-year.
more at source: https://www.chainstoreage.com/operations/retail-imports-surging-again-ahead-of-more-tariffs/