The New York Times Company announced fourth-quarter 2018 diluted earnings per share from continuing operations of $.33 compared with a loss of $.35 in the same period of 2017. Adjusted diluted earnings per share from continuing operations (defined below) was $.32 in the fourth quarter of 2018 compared with $.38 in the fourth quarter of 2017. Operating profit decreased to $74.7 million in the fourth quarter of 2018 from $90.5 million in the same period of 2017 and adjusted operating profit (defined below) decreased to $94.0 million in the fourth quarter of 2018 from $105.9 million in the prior year, principally due to the benefit from an extra week in the Company’s 2017 fiscal calendar and higher costs in 2018. Click read more below for additional detail.
Staples and Office Depot today announced that they have mutually agreed with the Federal Trade Commission to extend the review period for the Office Depot acquisition. Under the terms of the agreement, the FTC has agreed to issue its decision regarding this transaction by December 8, 2015.
“We’re pleased to reach an agreement with the FTC to extend the review period for the Office Depot transaction,” said Ron Sargent, Chairman and CEO, Staples, Inc. “This transaction will enable us to better serve our customers and to compete in an evolving marketplace. We will continue to work cooperatively with the Federal Trade Commission.”
Regulators in Australia, New Zealand and China have approved the transaction. Staples and Office Depot continue to work with regulatory authorities in the European Union, the United States and Canada.