Walmart Releases Q1 FY22 Earnings

At outlets that report to NPD BookScan, unit sales of print books were 4% lower in the week ended Dec. 10, 2017, than in the similar week in 2016. It was the third consecutive week this holiday season that sales were down from last year. The only major segment to post a unit increase in the week was juvenile nonfiction, which had a 5% gain over the week ended Dec. 11, 2016. First 100 Words by Roger Priddy was #1 on the category bestseller list, selling more than 21,000 copies in the week. Little Leaders: Bold Women in Black History by Vashti Harrison had a solid debut, selling more than 18,000 copies to land in fourth place on the category bestseller list. Unit sales in the juvenile fiction segment were 3% lower than in the similar week in 2016. Entries in Jeff Kinney’s Diary of a Wimpy Kid series were #1 in both 2016 and 2017; Double Down sold almost 118,000 copies in the week ended Dec. 11, 2016, and The Getaway sold about 107,000 copies in the most recent week in 2017. Click Read More below for additional information.

Meredith Corporation announced its intention to raise $710 million aggregate principal amount of proposed new secured debt, subject to market and other conditions. A combination of cash on hand and proceeds of the new debt will be used to redeem all of its outstanding Series A preferred stock ("Series A Preferred Stock") and pay fees and expenses incurred in connection with the financing and redemption transactions. The company also announced it has secured an amendment with its revolving line of credit lenders allowing for greater access to the credit facility. "We believe these steps will create significant benefits for all of our stakeholders as we pursue our previously communicated strategy to ensure ample liquidity and enhance our financial flexibility," said Meredith President and Chief Executive Officer Tom Harty.

*First quarter comparable sales grew 22.9 percent, on top of 10.8 percent growth last year. *Store comparable sales increased 18.0 percent, on top of 0.9 percent growth last year. Digital comparable sales grew 50 percent, on top of 141 percent growth a year ago. *Same-day services (Order Pickup, Drive Up and Shipt) grew more than 90 percent, led by growth in Drive Up of 123 percent. *More than 95 percent of Target's first quarter sales were fulfilled by its stores. *The Company gained more than $1 billion in market share in the first quarter, on top of a $1 billion share gain in first quarter 2020. *First quarter GAAP EPS of $4.17 was 643.2 percent higher than last year.