June 2018 - Page 2 of 2 - Midland Paper

Key Currency Exchange Rates for Friday, 6/01/18

June 1, 2018
Midland Paper Clips
Misc

American Dollar to Canadian Dollar = 0.771135; American Dollar to Chinese Yuan = 0.155831; American Dollar to Euro = 1.167321; American Dollar to Japanese Yen = 0.009136; American Dollar to Mexican Peso = 0.050059.

Brent premium over WTI hits new 3-year high

June 1, 2018
Midland Paper Clips
Misc

The spread between Brent crude oil futures contracts and U.S. WTI stood at its widest for three years on Friday with the latter set for a second consecutive week of declines as U.S. oil output comes close to matching that of top producer Russia. The premium has doubled to more than $11 a barrel in about a month as a lack of pipeline capacity in the United States traps much of the output inland. U.S. crude production has been rising to record levels since late last year. In March, it jumped 215,000 barrels per day (bpd) to 10.47 million bpd, a new monthly record, the Energy Information Administration said on Thursday. Click Read More below for additional information.

RILA warns of ‘three-front trade war’

The Retail Industry Leaders Association voiced its opposition to the White House announcement on the Thursday that it will impose new steel and aluminum tariffs on imports from the European Union, in addition to Canada and Mexico. Quach said that imposing tariffs raises the stakes for U.S. allies to take retaliatory measures that will hurt the nation’s exporters while creating more uncertainty for American businesses. “The administration has created a three-front trade war, targeting NAFTA, China, and now the European Union, with no resolution to any of these disputes in sight,” Quach said. Click Read More below for additional information.

Costco Wholesale Corporation Reports Third Quarter and Year-to-Date Operating Results for Fiscal 2018

Costco Wholesale Corporation announced its operating results for the third quarter (twelve weeks) and the thirty-six weeks ended May 13, 2018. Net sales for the quarter increased 12.1 percent, to $31.62 billion, from $28.22 billion last year. Net sales for the first thirty-six weeks of fiscal 2018 increased 12.0 percent, to $95.02 billion, from $84.82 billion last year. Net income for the quarter was $750 million, or $1.70 per diluted share, compared to $700 million, or $1.59 per diluted share, last year. Click Read More below for additional information.

Green Bay Packaging Inc. Announces Acquisition of Wisconsin Packaging Corp.

Green Bay Packaging Inc. announced the acquisition of Wisconsin Packaging Corp., a corrugated sheet plant in Fort Atkinson, WI. Wisconsin Packaging Corp. was founded in 1986 and will operate as part of Green Bay Packaging Inc. The acquisition is effective May 31, 2018. Wisconsin Packaging Corp. specializes in the design and manufacture of corrugated packaging and retail displays for clients throughout the United States. “Wisconsin Packaging is proud to become a member of Green Bay Packaging. Our family has grown our business in Fort Atkinson, our goal always being to provide for the everchanging needs of our customers. Click Read More below for additional information.

Sears prepares to close 72 stores

The operator of Sears and Kmart stores posted a first-quarter loss of $3.93 a diluted share. Revenue fell due to fewer stores and a 12% drop in comparable-store sales. The Hoffman Estates, Illinois-based retailer said Thursday that it has identified 100 unprofitable stores, and 72 of them will begin store-closing sales in the near future. It will announce the locations to close by midday. Click Read More below for additional information.

Quad/Graphics Teams Up with ELLE to Produce Personalized Covers

To create the covers, ELLE selected 50,000 names from their subscriber list, using demographics and other audience data to target those most likely to be Kim Kardashian West fans and ensure the greatest impact. Once the list of subscribers was narrowed to 50,000, the team at ELLE had Kim Kardashian West come in and hand-write each letter of the alphabet, allowing them to create a custom font. Kardashian West also provided several personal sayings - things she would actually say in person. The personalized print cover was created using variable data printing (VDP), which ELLE partnered with HP and printer Quad/Graphics to execute. George Forge, executive director of digital print for Quad/Graphics, says the company has decades of experience producing this type of work. Click Read More below for additional information.

Smurfit Kappa hits impressive milestone with 4 billionth Vitop tap

The Vitop® tap occupies the No. 1 position in the world for wine taps and has revolutionised the Bag-in-Box® system. The Vitop® tap quickly grew in popularity due to its tamper-proof design and high oxygen barrier which provide extended shelf life and product freshness. Tests on the Vitop® tap have revealed it to have a leak rate of just 1 in 5 million, a key contributor to its industry-leading position. To reach such high standards, each tap is individually tested under rigorous quality control standards. Ease of use has also contributed to its global appeal as it requires little effort to obtain a regular flow rate and is self-closing. Click Read More below for additional information.

Ulta Beauty Announces First Quarter Fiscal 2018 Results

• Net sales increased 17.4% to $1,543.7 million compared to $1,314.9 million in the first quarter of fiscal 2017; • Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 8.1% compared to an increase of 14.3% in the first quarter of fiscal 2017. The 8.1% comparable sales increase was driven by 5.1% transaction growth and 3.0% growth in average ticket; • Retail comparable sales increased 4.7%, including salon comparable sales growth of 3.2%; • Net income increased 28.2% to $164.4 million compared to $128.2 million in the first quarter of fiscal 2017. Click Read More below for additional information.