Unit Sales Had Small Gain Last Week (publishersweekly.com)

The 5-4 ruling Thursday is a win for states, who said they were losing out on billions of dollars annually under two decades-old Supreme Court decisions that impacted online sales tax collection. The high court ruled Thursday to overturn those decisions. They had resulted in some companies not collecting sales tax on every online purchase. The cases the court overturned said that if a business was shipping a product to a state where it didn't have a physical presence such as a warehouse or office, the business didn't have to collect the state's sales tax. Customers were generally supposed to pay the tax to the state themselves if they don't get charged it, but the vast majority didn't. Justice Anthony Kennedy wrote that the previous decisions were flawed. Click Read More below for additional information.

The ODP Corporation announced that its Board of Directors has unanimously approved a plan to pursue a separation of the Company into two independent, publicly traded companies, each with a unique and highly focused strategy and investment profile: *ODP – a leading provider of retail consumer and small business products and services distributed via approximately 1,100 Office Depot and OfficeMax retail locations and an award-winning eCommerce presence, officedepot.com; and *“NewCo” – a leading B2B solutions provider (ODP’s Business Solutions Division contract business, Grand & Toy and ODP’s independent regional office supply distribution businesses) serving small, medium and enterprise level companies. NewCo will also own the Company’s newly formed B2B digital platform technology business, including BuyerQuest, as well as the Company’s global sourcing office and its other sourcing, supply chain and logistics assets.

FY23 third quarter service performance scores covering April 1 through April 14, included: *First-Class Mail: 91.5% of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal second quarter. *Marketing Mail: 95.8% of Marketing Mail delivered on time against the USPS service standard, an increase of 1.2 percentage points from the fiscal second quarter. *Periodicals: 87.8% of Periodicals delivered on time against the USPS service standard, an increase of 1.3 percentage points from the fiscal second quarter.