J. C. Penney Company, Inc. announced that the U.S. Bankruptcy Court for the Southern District of Texas has confirmed the Company’s Plan of Reorganization to create separate property holding companies comprising 160 of the Company’s real estate assets and all of its owned distribution centers, which will be owned and operated by JCPenney’s DIP and First Lien Lenders. The PropCos are expected to complete the Court-supervised restructuring process and emerge from Chapter 11 bankruptcy protection in the first half of 2021. The Plan is pursuant to the Company’s asset purchase agreement with Simon Property Group and Brookfield Asset Management, Inc. and the Company’s DIP and First Lien Lenders, supported by the Unsecured Creditors Committee. The APA also provides that Simon and Brookfield are acquiring JCPenney’s retail and operating assets. The PropCos and OpCo will enter into master leases with respect to the properties and distribution centers moved into the PropCos.

German media giant Bertelsmann said Wednesday that its Penguin Random House division is buying rival Simon & Schuster in a megadeal that would reshape the U.S. publishing industry. Penguin Random House, already the largest American publisher, will buy the New York-based Simon & Schuster, whose authors include Stephen King, Hillary Clinton and John Irving, from TV and film company ViacomCBS for $2.17 billion in cash. “Simon & Schuster strengthens Bertelsmann’s footprint globally, and (particularly) in the U.S., its second-largest market,” the Guetersloh, Germany-based company said in a statement. The purchase of Simon & Schuster would reduce the so-called Big Five of American publishing — which also includes HarperCollins, Hachette Book Group and Macmillan — to four.

The ACMA jointly filed comments with MPA - The Association of Magazine Media, and PostCom supporting the US Postal Service's proposal for estimating the volume variability of labor costs associated with the automated distribution of letters and flats. In the comments, the groups contend that it's time "to abandon the assumption that most mail processing activities are nearly 100-percent volume variable. That assumption lacks empirical support." Calling for the Postal Regulatory Commission to approve the USPS's costing proposal, the groups also urge the Commission to look beyond it and to hold the Postal Service accountable for rightsizing its flats sorting operations in response to volume declines.

Rolland President Philip Rundle speaks with Ivy Life & Style Media, whose niche publications and properties serve Virginia’s Charlottesville-Albemarle region and the nearby wine country. Jennifer Bryerton, co-publisher of Ivy and editor-in-chief of its Wine & Country Life magazine, talks about publishing in a local market, contributing to a sustainable community, and creating a cookbook that will feed businesses, farmers and people in a time of need. Ivy Life & Style Media is a lively small busines • Located in Ivy, Virginia, near Charlottesville, with a team of employees who create print and digital publications, provide media services, and run a boutique. • Publisher of community-oriented magazines and books under three popular brands: CharlottesvilleFamily, Charlottesville Welcome Book and Wine & Country. • Wine & Country Life, a 150-page magazine published twice a year, covers the lifestyle and culture in Virginia’s beautiful wine country. • Ivy Life & Style Media is a Virginia certified SWAM (small women-owned and minority-owned) business as well as a Certified Virginia Green Travel Partner.

Nordstrom, Inc. reported third quarter results, which reflected sequential improvement in sales and earnings relative to the prior quarter. The Company generated earnings before interest and taxes (EBIT) of more than $100 million, supported by improved merchandise margin trends and benefits from resetting its cost structure. Earnings per diluted share of $0.34 included an income tax benefit of $0.12 related to the CARES Act. For the third quarter ended October 31, 2020, net sales decreased 16 percent from last year and included a positive impact of approximately 10-percentage points due to the shift of the Nordstrom Anniversary Sale from the second quarter to the third quarter this year. Digital sales of $1.6 billion accounted for 54 percent of Nordstrom's business.

Net sales were flat year-over-year, reflecting a 61% increase in online sales, offset by a 20% decline in store sales. Notably, 40% of the company’s sales were online in the third quarter. As noted during the company’s Investor Meeting, held in October 2020, the company aspires to achieve 50% of its sales from online by the end of 2023. Third quarter fiscal year 2020 comparable sales were up 5%, driven by the strength of Gap Inc.’s scaled ecommerce business, which added over 3.4 million new customers during the quarter. The comparable sales calculation reflects online sales and comparable sales days in stores that were open. Gross margin was 40.6%, a 160 basis point improvement versus last year. This improvement is consistent with the strategic focus outlined in last month’s Power Plan 2023 discussion of opening highly-profitable Old Navy and Athleta stores, while also closing select unprofitable Gap and Banana Republic stores, yielding significant rent and occupancy savings. In addition, a lower level of promotions contributed to higher product margins in the quarter. The benefits of lower rent and occupancy and higher product margin were partially offset by higher shipping expenses associated with the company’s growth in online sales. Operating income was $175 million or 4.4% of net sales.

Kohl’s is proud to have been named to the 2020 Dow Jones Sustainability Index (DJSI) North America by S&P Global. This marks the third year in a row the company has received the designation for its sustainability performance and environmental, social and governance (ESG) commitments. “The DJSI’s continued recognition of Kohl’s serves as a reliable indicator of the strength of our ESG stewardship initiatives,” said Steve Thomas, Chief Risk and Compliance Officer for Kohl’s. “We believe that incorporating sustainable solutions into the way Kohl’s conducts business will help to build better futures for our customers, our associates, and their families and we are pleased to be acknowledged for these efforts.”

Urban Outfitters, Inc. announced net income of $77 million and record earnings per diluted share of $0.78 for the three months ended October 31, 2020. For the nine months ended October 31, 2020, net loss was $27 million and loss per diluted share was $0.28. Total Company net sales for the three months ended October 31, 2020, decreased 1.8% over the same period last year to $970 million. Comparable Retail segment net sales were flat as a result of negative retail store sales driven by lower store productivity due to reduced store traffic, offset by strong double-digit growth in the digital channel. By brand, comparable Retail segment net sales increased 17% at Free People and 4% at Urban Outfitters and decreased 9% at the Anthropologie Group. Wholesale segment net sales decreased 24%. For the three months ended October 31, 2020, the gross profit rate increased by 79 basis points versus the prior year’s comparable period. Gross profit dollars increased 0.6% to $322.9 million from $321.1 million. For the nine months ended October 31, 2020, the gross profit rate decreased to 24.3% from 32.2% in the prior year’s comparable period. Net income for the three months ended October 31, 2020, was $77 million and earnings per diluted share was $0.78. Net loss for the nine months ended October 31, 2020, was $27 million and loss per diluted share was $0.28.

Recent highlights include: -Chico's FAS continued its evolution to a digital-first company, fast tracking several investments in innovative digital technology, leading to higher customer engagement and improved sales. -For the third quarter, total sales improved 14.8% from the thirteen weeks ended August 1, 2020 (the "second quarter"), driven by robust digital performance and rebounding store revenues. -Third quarter digital sales grew by double digits for the second quarter in a row. Year-over-year digital sales grew in all three brands, and Soma led the way with 67% growth compared to the thirteen weeks ended November 2, 2019 ("last year's third quarter"). -Soma achieved a 10.5% total comparable sales growth for the third quarter compared to last year's third quarter. -Total third quarter gross margin rate was up 740 basis points compared to the second quarter, reflecting a higher percentage of full-price selling on leaner inventory, reduced inventory write-offs and leverage of fixed occupancy costs.

Domestic Segment Q3 FY21 Results: Domestic revenue of $10.85 billion increased 21.0% versus last year. The increase was primarily driven by comparable sales growth of 22.6%, which was partially offset by the loss of revenue from permanent store closures in the past year. Domestic online revenue of $3.82 billion increased 173.7% on a comparable basis, and as a percentage of total Domestic revenue, online revenue increased to approximately 35.2% versus 15.6% last year. Domestic gross profit rate was 24.0% versus 24.3% last year. The gross profit rate decrease of approximately 30 basis points was primarily driven by higher supply chain costs as a result of the increased mix of online revenue and lower profit-sharing revenue from the company’s private-label and co-branded credit card arrangement. These pressures were partially offset by a more favorable promotional environment. International Segment Q3 FY21 Results: International revenue of $1.0 billion increased 25.4% versus last year. This increase was primarily driven by comparable salesgrowth of 27.3%, which was partially offset by the impact of approximately 140 basis points of negative foreign currency exchange rates. International GAAP gross profit rate was 19.0% versus 22.5% last year.

A summary of results for the third quarter ended October 31, 2020 as compared to the third quarter ended November 2, 2019: -Net sales of $820 million, down 5% as compared to last year, reflecting the adverse impact of COVID-19 on store sales. -Digital net sales increased 43% to $382 million reflecting robust growth in every month of the quarter. -Gross profit rate improved 390 basis points to 64.0% on higher average unit retail and lower average unit cost, benefiting from inventory shrink favorability of approximately 100 basis points and changes in foreign currency exchange rates of approximately 90 basis points. -Operating income improved to $59 million and $65 million on a reported and adjusted non-GAAP basis, respectively, as compared to $14 million and $25 million last year, on a reported and adjusted non-GAAP basis, respectively. -Generated positive operating cash flows of $63 million during the third quarter ended October 31, 2020, ending the quarter with $813 million of cash and equivalents and liquidity of approximately $1.2 billion.

Walmart is continuing to strengthen its in-house capability to deliver online orders. The discount giant is purchasing the talent, technology platform, and intellectual property of JoyRun, a Silicon Valley-based startup. JoyRun operates a peer-to-peer last-mile delivery platform which enables users to pick up and deliver items for friends and neighbors. JoyRun has built a network of more than 540 official retail partners, and more than 30,000 people have served as drivers or “runners” since the compny launched in 2015. According to Walmart, this acquisition allows it to further augment its delivery team and support ongoing efforts to explore more ways to deliver online orders in the future. In a LinkedIn post announcing the acquisition, Srini Venkatesan, executive VP of Walmart Global Tech, said that JoyRun runners could complement Walmart’s Spark program for independent delivery contractors, as well as third-party delivery providers such as Instacart.

The detail that has most captured industry members’ attention in the New York Times report that HarperCollins and Penguin Random House are the favorites to acquire Simon & Schuster is the news that the purchase price is expected to be at least $1.7 billion. That figure is at the top end of original estimates of $1.2 billion–$1.7 billion for the price of the country’s third-largest trade publisher. The sale of S&S will be the largest acquisition in North American trade publishing since HarperCollins bought Harlequin in 2014. It will also be one of the few recent transactions in which the revenue of the target company is public and the purchase price may also become public.

The Postal Service is pleased to announce that the 2021 Mailing Promotions Calendar has also been approved. As in prior years, promotions provide incentives and discounts to commercial mailers who use specific techniques and technologies in their mailings that can increase customer engagement and drive response rates. The techniques highlighted in the promotions include the use dynamic color, new print techniques, mobile technology, omnichannel experiences and the integration of emerging technologies. The 2021 Promotions are as follows: *Tactile, Sensory & Integrative Mailpiece Engagement; *Emerging and Advanced Technology; *Mobile Shopping; *Earned Value Reply Mail; *Personalized Color Transpromo; *Informed Delivery. The 2021 promotion calendar is posted on the PostalPro website at: https://postalpro.usps.com/promotions. All promotion requirements and further information are expected to be posted by the end of next week. Questions can be directed to the Mailing Services Program Office at mailingpromotions@usps.gov.

With all categories posting gains of at least 11%, unit sales of print books jumped 19.5% in the week ended Nov. 14, 2020, over the comparable week in 2019, at outlets that report to NPD BookScan. There were no new books that made a big splash in the week, with the overall increase due to strength in both backlist and frontlist titles. The World Needs Who You Were Made to Be by Joanna Gaines was the top new title, selling more than 43,000 copies and helping to lift unit sales in the adult nonfiction category by 11.9%. Unit sales rose 22.5% in adult fiction over the week ended Nov. 16, 2019. Michael Connelly’s The Law of Innocence was #1 in the category, selling more than 43,000 copies in its first week.

The Postal Regulatory Commission approved the price adjustments for the market dominant mail categories, including First Class, Marketing Mail, Periodicals, Package Services, and Special Services Products and related classifications. The new rates take effect on January 24, 2021. As we reported to the membership previously, the rate increase contains a provision for catalog postage costs to increase at 2% more than the Marketing Mail Class average. Since we have now exhausted our remedies with the PRC, we are left only with an attempt to appeal directly to Members of Congress about this ruling and seek interest in pushing for a review of this nonsensical demand. It is not curing the problem, and is in fact making it worse by driving more mail out of the system without addressing the root cause. ACMA is desperately seeking any company with employees or operations in any of the following zip codes: 20069 20070 20109 20110 20112 20119 20120 20121 20122 20124 20136 20137 20155 20156 20168 20169 20171 20181 20182 22003 22009 22015 22027 22030 22031 22032 22033 22035 22038 22039 22044 22060 22079 22081 22082 22102 22116 22118 22119 22120 22121 22124 22125 22150 22151 22152 22153 22156 22158 22159 22160 22161 22180 22181 22182 22183 22185 22191 22192 22193 22194 22195 22199 22308 22309 22312 Please search your contacts, customers, and prospects to see if you can give us the name(s) of companies in one of these zip codes. Rep. Gerry Connolly, from Virginia’s 11th District, which includes Fairfax County, Prince William County, and the City of Fairfax in Northern Virginia, and who is also Chairman of the subcommittee with postal oversight, has demonstrated interest in this matter. If we can find one or more constituents in Mr. Connolly's district, they will be of great help in getting Congressional visibility on the plight of catalog mailers and the poor management of the category by postal policy makers. ACMA will continue to work with USPS managers on flats cost reduction but increasing the pressure from Congress will help motivate officials to faster action. Send an email to action@catalogmailers.org to let us know if you identify any catalog interests in Mr. Connolly’s district.

Amazon announced 2020’s Best Books of the Year, selecting Brittany K. Barnett’s “A Knock at Midnight” as the top pick. The inspiring true story is a brilliant memoir of Barnett’s own journey navigating the criminal justice system, which also chronicles the stories of three of her clients. Their lives—including their crimes, their families, and their jail time—are rendered with such care and compassion that the Amazon Books Editors found it impossible to put down. The process of choosing the Best Books of the Year begins the year prior, as the Amazon Books Editors begin debating the list for January’s Best Books of the Month. The editors collectively read thousands of books each year in service of creating an editorially curated list and reviews each month. These monthly lists culminate in the Best Books of the Year, which includes an overall Top 100 for 2020 as well as top lists for individual genres like literature & fiction, mystery and thriller, children’s books, cookbooks, food & wine, and young adult—all to help customers find their next favorite book or thoughtful holiday gift pick.

The U.S. Postal Service made several leadership announcements, including the retirement of a top executive, the promotion of several other key leaders, and a series of functional alignments that aim to better position the organization to achieve operational excellence and financial stability. The changes include the announcement that David E. Williams, chief logistics and processing operations officer, intends to retire next year, capping a postal career that has spanned more than three decades. Other leadership appointments and structural modifications announced today include: *Isaac Cronkhite, who currently serves as chief human resources officer, will succeed Williams as chief logistics and processing operations officer. *Doug Tulino, labor relations vice president, will become chief human resources officer. *Katherine Attridge, collective bargaining and arbitration manager, will become labor relations vice president. *Tom Foti, product management executive director, will become product solutions vice president and report to Steve Monteith, who will become chief customer and marketing officer. *Marc McCrery, information technology vice president, will become technology applications vice president, and Bill Koetz, will serve as acting network and compute technology vice president. *Gary Reblin, product innovation vice president, will become innovative business technology vice president and report to Scott Bombaugh, who will become chief technology officer. *Linda Malone has been named engineering systems vice president after serving in the position in an acting basis since the summer. She will report to Bombaugh. *Simon Storey, employee resource management vice president, will become human resources vice president, and Jenny Utterback, human resources technology and innovation senior director, will become organization development vice president. *Jeff Adams has been named corporate communications vice president, a role he has served in an acting basis since the summer.

Whether it’s celebrating life’s special moments, showing how much we care for someone or ensuring our wishes are fulfilled, the importance of paper is felt in our lives in many ways. Beyond being part of our normal routine, paper has also played a pivotal role in changing the world. Here are some examples that demonstrate the importance of paper to civilizations throughout world history. 1. Gutenberg Bible; 2. The Federalist Papers; 3. The Gettysburg Address; 4. Anne Frank’s Diary; 5. Martin Luther King Jr.’s Letter From Birmingham Jail. click read more for details

Pearson, the world's leading learning company, today announces the creation of a new direct-to-consumer division as it looks to further strengthen its focus on building a direct relationship with learners around the world. The new division will be co-led by two senior executives: Ishantha Lokuge joined Pearson from Shutterfly last year and now steps up to the role of Chief Global Product Officer and Co-President, Direct-to-Consumer. Lynne Frank, most recently President of International Marketing and Worldwide Planning and Operations at Warner Bros. Pictures, joins Pearson as Chief Marketing Officer and Co-President – Direct-to-Consumer. Together, Ishantha and Lynne will lead the new division focused on direct-to-consumer products and channels, and will report to Andy Bird, Chief Executive.

The company reported earnings per share of $1.17 for the third quarter ended Oct. 31, 2020, compared to a loss per share of $0.91 for the quarter ended Nov. 2, 2019. Third quarter operating income was $580.6 million compared to an operating loss of $151.2 million last year, and net income was $330.6 million compared to a net loss of $252.0 million last year.

Third Quarter Highlights: *Positive EBITDA one quarter sooner than expected. *Strong liquidity position with approximately $1.6 billion in cash and approximately $3 billion of untapped capacity in the company’s asset-based credit facility. *Digital sales grew 27% over third quarter 2019. Digital sales penetrated at 38% of total owned comparable sales. *Comparable sales down 21.0% on an owned basis and down 20.2% on an owned plus licensed basis, due to continued stores recovery and continued growth of digital business. *Inventory down 29% from third quarter 2019. The company exited the quarter in a clean inventory position. *Gross margin of 35.6% compared to 23.6% in the second quarter of 2020, an improvement of approximately 12 percentage points. The improvement was driven by disciplined inventory management, better sell through of both full-price and clearance merchandise and lower clearance markdowns.

*Third quarter sales and earnings exceed company expectations, with significant improvement from the second quarter *Strengthened financial position during the quarter by fully repaying revolver and ending with $1.9 billion in cash *Strong operating cash flow year-to-date of $910 million *Third quarter comparable sales decrease 13.3% *Third quarter loss per share of ($0.08)

Gannett Co., Inc. announced that it has refinanced approximately $500 million of its 11.5% term loan, maturing in 2024, with 6.0% convertible notes due in 2027. The refinancing reduces the outstanding term loan to $1.118 billion. “We are pleased to announce the refinancing, which we believe has three key benefits,” said Michael Reed, Gannett Chairman and Chief Executive Officer. “First, it generates significant savings, reducing our annual interest expense by approximately $28 million per year. These savings will be used to accelerate repayment of our term loan. Second, we believe that this refinancing paves the way for a refinancing of the remaining term loan by reducing the outstanding balance. And third, it extends the maturity of approximately $500 million of debt by three years. Since putting the term loan in place in November 2019, we have repaid over $175 million to date, and we expect to repay an additional $100 million in the coming months. Pro forma for these repayments, the outstanding term loan will be approximately $1 billion, which we believe we can refinance on attractive terms by the end of the first half of 2021. As we improve the Company’s capital structure, we are also seeing continued improvement in our revenue trends, which we expect will drive strong fourth quarter results.”

The United States Postal Service filed notice with the Postal Regulatory Commission (PRC) today of price changes to take effect Jan. 24, 2021. The proposed prices, approved by the Postal Service Governors, would raise Shipping Services product prices approximately 3.5 percent for Priority Mail service, and 1.2 percent for Priority Mail Express service. Shipping Services price increases vary by product. Although Mailing Services price increases are based on the consumer price index, Shipping Services prices are primarily adjusted according to market conditions. The Governors believe these new rates will keep the Postal Service competitive while providing the agency with needed revenue. The complete Postal Service price filings with prices for all products can be found on the PRC site under the Daily Listings section at prc.gov/dockets/daily. For the Shipping Services filing, see Docket No. CP2021-28. The price change tables are also available on the Postal Service’s Postal Explorer website at pe.usps.com/PriceChange/Index.

The International Chamber of Commerce (ICC) and Pearson have announced a new collaboration to create educational products and services that will equip people with the necessary skills to thrive in an ever-changing global economy. Over the past decade, digitalisation, automation and artificial intelligence have reshaped industries and created new skillset requirements for workforces everywhere. These changing conditions have only accelerated in the age of the COVID-19 pandemic, where necessary public lockdowns and workplace closures have transformed the nature of work, education, and daily life. In this context, ICC and Pearson will work together to co-create educational programmes that will reskill workers in a rapidly developing global economy. At the same time, the partnership aims to empower companies to retrain and retain their employees and offer workers the opportunity to have their skills formally recognised through certificate programmes.

The Home Depot® reported sales of $33.5 billion for the third quarter of fiscal 2020, an increase of $6.3 billion, or 23.2 percent from the third quarter of fiscal 2019. Comparable sales for the third quarter of fiscal 2020 were positive 24.1 percent, and comparable sales in the U.S. were positive 24.6 percent. Net earnings for the third quarter of fiscal 2020 were $3.4 billion, or $3.18 per diluted share, compared with net earnings of $2.8 billion, or $2.53 per diluted share, in the same period of fiscal 2019. For the third quarter of fiscal 2020, diluted earnings per share increased 25.7 percent from the same period in the prior year.

Walmart U.S. Q3 comp sales1 grew 6.4% and Walmart U.S. eCommerce sales grew 79%, Q3 FY21 GAAP EPS of $1.80; Adjusted EPS2 of $1.34, Company incurs incremental costs related to COVID-19 of $0.6 billion

The Home Depot® announced it has entered into a definitive agreement to acquire HD Supply Holdings, Inc., a leading national distributor of maintenance, repair and operations (MRO) products in the multifamily and hospitality end markets. The acquisition is expected to position The Home Depot as a premier provider in the MRO marketplace. "The MRO customer is highly valued by The Home Depot, and this acquisition will position the company to accelerate sales growth by better serving both existing and new customers in a highly fragmented $55 billion marketplace," said Craig Menear, chairman and CEO of The Home Depot. "HD Supply complements our existing MRO business with a robust product offering and value-added service capabilities, an experienced salesforce that enhances the strong team we have in place, as well as an extensive, MRO-specific distribution network throughout the U.S. and Canada."

Meredith Corporation's Martha Stewart Living marks the 30th anniversary of the legendary brand's magazine with its December issue featuring fresh new ideas to get into the holiday spirit with advice on entertaining, decorating, cooking, gift giving, beauty and more, as well as a look back at Martha Stewart Living's start, its most iconic moments over the last three decades, editors' all-time favorite recipes from the archives and some of its most popular magazine covers. Martha Stewart Living launched in 1990 with a mission to teach and inspire readers eager to learn from Martha and her team, who shared their expertise in everything from decorating, gardening, crafting, and organizing to cooking, baking, entertaining, and beyond. The magazine offered a pioneering personality-driven editorial approach marked by careful attention to detail, visual glossaries, thoughtful instruction, and boundless creative insights that has proven timeless and continues to resonate with its audience today. As Martha wrote in the first issue of Martha Stewart Living, "Our families and our homes are the centers of our lives. This magazine will always be filled with ways to make those homes more beautiful, more comfortable, and more full of life and light and joy for those we love."

Montgomery Public Schools has partnered with learning technology company Houghton Mifflin Harcourt to implement Amira Learning™, the first intelligent reading assistant that listens to, assesses and tutors learners to bolster early literacy for its students. Amira’s state of the art speech recognition and enhanced AI software offers 1:1 reading practice for young learners and administers both an oral reading fluency assessment and a dyslexia screener. Launching in Montgomery’s Brewbaker Primary School (BPS), which serves the largest elementary population in Montgomery County, Amira will provide teachers with a high-quality 1:1 reading instruction, practice and tutoring solution as it seeks to build the foundational literacy skills of its 600+ diverse students and deliver marked improvement in reading foundations among English Language Learners. Amira, which can be utilized in both virtual and face-to-face learning environments, will help BPS keep students engaged and on track and safe as it shifts to a hybrid learning model in response to of the COVID-19 pandemic.

In the third quarter of 2020, Bertelsmann again achieved slight organic growth, further stabilizing its business during the Corona pandemic. This has significantly slowed the revenue decline in the year to date. The Group continues to benefit from the broad positioning of its corporate portfolio and high proportion of digital business models. Book publishing, the music business, Arvato’s services, and the education business once again proved to be particularly robust. The advertising markets also recovered in the third quarter. Bertelsmann’s revenues softened by 6.3 percent to €12.0 billion (previous year: €12.8 billion) in the period from January to September. Adjusted for portfolio and exchange rate effects, the decline in revenues was 4.8 percent. At the end of the first half of 2020, revenues had declined by 8.9 percent (organic: 7.9 percent). In the third quarter, the company recorded organic revenues growth of 1.6 percent.

Debi Chirichella has been named president of Hearst Magazines. The announcement was made by Hearst President and CEO Steven R. Swartz. The appointment is effective immediately. Chirichella was named acting president of Hearst Magazines in July and was previously executive vice president and chief financial officer, overseeing strategic financial planning and reporting and international operations. She joined the company in 2011 as senior vice president and chief financial officer. “Debi has been a key part of our Magazine company leadership team for almost a decade and has a very strong command of all aspects of this business,” said Swartz. “She has expertly led the division over the past several months, and we are confident in the future as Debi and her team continue to build on the legacy of our great brands around the world.”

Macmillan has pushed back the official reopening of its New York City offices for its trade group from January 11 to July 6. Similar to many New York City publishers, Macmillan’s workforce has largely been working remotely since March following the spread of the coronavirus throughout the metropolitan region. In making the announcement, Macmillan said that it has created a voluntary program that “allows limited access to the office space for employees to work and/or access their work space.” Macmillan first started the program in August at the suggestion of employees, and, the publisher said, “the program has evolved to include access to mailing options and other office services for use by employees both onsite and working remotely.”

Health Media Network and Meredith Corporation announced a first-to-market strategic alliance that brings Meredith's trusted content to doctors' offices throughout the country. The new Meredith Health Media Network Alliance enables advertisers to engage healthcare focused consumers across all Meredith assets as well as HMN's fully addressable video networks which includes Women's and Men's Health, Kids and Family Network, and the one of a kind PetCare TV. Through this alliance, Meredith gains a new distribution channel for its essential and inspiring lifestyle and entertainment video content bringing brands such as PEOPLE, Better Homes & Gardens, SHAPE, EatingWell, PARENTS, Allrecipes, FOOD & WINE, Southern Living, Health and Travel + Leisure, among others, to a wider audience while programming against key lifestyle themes such as healthy living, fitness travel, cooking and pop culture. Combined with Health Media Network's wellness and healthcare focus, this alliance provides an unprecedented opportunity for advertisers to engage target-rich audiences in a 360-brand approach.

Meredith Corporation's PARENTS released the 12th annual list of Best Children's Books, recognizing the 30 top new reads for every child in 2020. Selected by the editors and kid-approved, the list of winners is available now on PARENTS.com/BestBooks and in the December issue of PARENTS magazine, available now. "Our editorial team—as well as our exclusive panel of librarians and voracious young readers—has been reviewing books since January to come up with this prestigious list of winners. PARENTS celebrates children's books in every issue, but there is nothing like this annual list to fill our readers' personal libraries and help raise the next generation of book lovers." Click read more below for the lists.

J. C. Penney Company, Inc. announced that the U.S. Bankruptcy Court for the Southern District of Texas has approved the previously announced asset purchase agreement with Brookfield Asset Management, Inc., Simon Property Group and the Company’s DIP and First Lien Lenders, which is supported by the Unsecured Creditors Committee. Pursuant to the APA, Brookfield and Simon will acquire substantially all of JCPenney’s retail and operating assets through a combination of cash and new term loan debt.

Meredith Corporation's Allrecipes announces its support for finding a cure for childhood cancer and other life-threatening diseases by teaming up with St. Jude Children's Research Hospital for its 2020 Thanks and Giving® campaign. This holiday season Allrecipes will shine a spotlight on this important cause through a wide range of content and promotional offerings across its digital, print, and social channels with the goal of helping kids and families at St. Jude Children's Research Hospital® as part of the annual tradition that raises funds to directly support the St. Jude mission: Finding cures. Saving children.® This is the first time that Allrecipes has participated in the St. Jude Thanks and Giving campaign, which unites world-class brands and their customers around a common goal – to build awareness and raise funds to support vital research and treatment. Because of generous supporters, families never receive a bill from St. Jude for treatment, travel, housing or food – because all a family should worry about is helping their child live.

Wiley Education Services announced a new partnership with University of Wyoming (UW) to help bring the school’s courses online quickly and effectively for the spring 2021 semester. One of Wiley's largest fee-for-service agreements to date, the partnership will provide UW with instructional design and faculty support, as well as development and training services for their faculty as they look to convert in-person classes to online modalities. The current landscape, amid COVID-19, has accelerated institutional focus on course design and faculty development. While 45% of faculty report an overall improved perception of online learning since the beginning of the pandemic, educators are still navigating the transition, according to Every Learner Everywhere and Tyton Partners. Wiley has been supporting its partners by meeting their immediate needs as it relates to course and faculty development, market research, and on-campus support, while also helping them plan for the long-term.

Target Corporation and Ulta Beauty announced a strategic, long-term partnership to transform the beauty landscape with Ulta Beauty at Target. The “shop-in-shop” concept will offer established and emerging prestige brands online and in select Target locations nationwide beginning next year. Target and Ulta Beauty, two trusted retail leaders that excel in curation, omnichannel engagement and guest-centric experiences, will together create a new way for beauty enthusiasts to discover exciting prestige brands. The partnership brings Ulta Beauty’s best-in-class beauty authority to millions of guests who love the ease and convenience of Target’s one-stop shopping experience. It also provides beauty brands an opportunity to expand and grow in a new, industry-leading omnichannel retail experience.

Pearson announces the disposal of its interests in Pearson Institute of Higher Education (PIHE) in South Africa to a consortium of Stellenbosch Graduate Institute (SGI) and EXEO Capital. Stellenbosch Graduate Institute (SGI) is an established provider of innovative education programmes from a digital platform. EXEO Capital is a pan-African alternative investment firm. This is in line with the strategic direction Pearson has taken in recent years to shift away from physical, large-scale direct delivery services and focus on strategic opportunities. The disposal is expected to close in the first half of 2021 subject to the necessary regulatory approvals being obtained.

With sales up in all categories, unit sales of print books rose 9.5% in the week ended Oct. 31, 2020, over the comparable week in 2019, at outlets that report to NPD BookScan. The top-selling book was The Deep End (Diary of a Wimpy Kid #15) by Jeff Kinney, which sold more than 171,000 copies and helped to drive up sales in the juvenile fiction category by 15.5%. A second new release that landed high on the category list was Jimmy Fallon’s 5 More Sleeps ’til Christmas, which sold more than 21,000 copies. For most categories, sales increases over the week ended Nov. 2, 2019, weren’t driven by hot new bestsellers but by solid sales overall. The #1 title in the juvenile nonfiction category, for example, was Big Preschool Workbook, which sold a modest 7,200 copes. The YA fiction category, which had a 25.7% increase, was once again led by Stephenie Meyer’s Midnight Sun, which sold more than 17,000 copies.

As support for Two Sides’ consumer-focused Love Paper campaign continues to grow, we are pleased to announced that the Love Paper logo is now available for on-product use! Any company that uses print, paper and paper-based packaging, including brands, retailers, marketing agencies, printers, and paper and paper-based packaging manufacturers, can use the Love Paper® on-product logo to enhance their own sustainability messages. The Love Paper® logo is a simple, eye-catching way to tell customers that you care about the environment and use products from an inherently sustainable industry. The logo’s subtle design and color variations are an effective yet unintrusive addition to any paper product, from printed catalogs and books to direct mail and product packaging.

Hygiene is a key factor in modern society today. Good health, together with an improved quality of life, is directly related to good hygiene. Our latest fact sheet examines the research and looks at which is the most hygienic way to dry hands, paper towels or electric hand dryers? We are pleased to present the Two Sides Q3 Campaign Update. The report covers all of our latest results and successes. Product packaging around the world is currently going through a transformation, with companies keen to move from single-use to more sustainable solutions. Read more at: https://twosides.info/documents/factsheets/6-What's-More-Hygienic.pdf?utm_medium=email&utm_campaign=TSUK%20Nov%201&utm_content=TSUK%20Nov%201+CID_058a839741026ebda51b4eec13bfca33&utm_source=Email%20marketing%20software&utm_term=Read%20more

The New York Times Company announced third-quarter 2020 diluted earnings per share from continuing operations of $.20 compared with $.10 in the same period of 2019. Adjusted diluted earnings per share from continuing operations (defined below) was $.22 in the third quarter of 2020 compared with $.12 in the third quarter of 2019. Operating profit increased to $39.6 million in the third quarter of 2020 from $25.1 million in the same period of 2019 and adjusted operating profit (defined below) increased to $56.5 million from $44.1 million in the prior year, as higher digital-only subscription revenues and lower costs more than offset lower advertising revenues. Subscription revenues in the third quarter of 2020 rose due to growth in the number of subscriptions to the Company’s digital-only products, which include our news product, as well as our Cooking, Games (previously Crossword) and audio products. Revenue from digital-only products increased 34.0 percent, to $155.3 million. Print subscription revenues decreased 3.8 percent to $145.7 million largely due to lower retail newsstand revenue, while revenue from our domestic home delivery subscription products grew 2.5 percent.

Fiscal 2021 First Quarter Key Financial Highlights: *Revenues were $2.12 billion, a 10% decline compared to $2.34 billion in the prior year, primarily driven by the sale of News America Marketing *Net income of $47 million compared to a net loss of $(211) million in the prior year, which included non-cash impairment charges of $273 million *Total Segment EBITDA was $268 million compared to $221 million in the prior year *Reported EPS were $0.06 compared to $(0.39) in the prior year – Adjusted EPS were $0.08 compared to $0.04 in the prior year *Segment EBITDA at Digital Real Estate Services grew 45%, with record revenue and profit contribution by Move, operator of realtor.com®, led by its referral model *Segment EBITDA at Dow Jones grew 47%, driven by record average consumer product subscriptions of 3.88 million, led by 29% growth in digital-only subscriptions *Book Publishing saw 13% and 45% growth in revenues and Segment EBITDA, respectively, benefiting from continued strong performance in digital sales

Average student spending on college textbooks and course materials continued to decline during the fall semester of 2020, dropping 7% compared to the same term last year, according to a special preview of the latest data from independent research firm Student Monitor. A high-level version of Student Monitor’s Fall 2020 report is due out in November, followed by the full report in December. “We are pleased to once again partner with Student Monitor to offer a sneak peek of its Fall 2020 report, which reaffirms the incredible array of options that students and college administrators have today to access course materials and improve learning outcomes,” said Kelly L. Denson, Vice President of Education Policy and Programs at the Association of American Publishers. “The consistent decline in student spending on textbooks and other learning materials is a clear illustration of education publishers’ longstanding commitment to affordability initiatives that put students and educators first.”

Fiscal 2021 first quarter revenues were $694 million, down 4 percent from the prior-year period. Declines due to COVID-19 and previously announced magazine portfolio adjustments were partially offset by record first quarter revenue performance for National Media Group digital advertising and Local Media Group political revenues. Fiscal 2021 first quarter earnings from continuing operations more than tripled to $42 million from $12 million in the prior-year period. Adjusted EBITDA grew 17 percent to $143 million due primarily to digital advertising and political revenue growth. Fiscal 2021 first quarter cash flow from operations was $79 million, compared to a use of $14 million in the prior-year period, and free cash flow was $70 million, compared to a use of $29 million in the prior-year period, as Meredith benefited from political revenues, effective working capital improvements, lower compensation-related items, and lower restructuring payments.

At its meeting today, the Bertelsmann Supervisory Board appointed Rolf Hellermann as the new Chief Financial Officer (CFO) of the international media, services and education company. Rolf Hellermann, currently CEO of the Bertelsmann subsidiary Arvato Financial Solutions and a member of Bertelsmann’s Group Management Committee, will take up his position as CFO and member of the Bertelsmann Executive Board with effect from January 1, 2021. He succeeds Bernd Hirsch, who is leaving the company at his own request to pursue new professional challenges. Bernd Hirsch had previously asked the Supervisory Board to release him from his position on the Board of Management with effect from the end of the year 2020. The Supervisory Board has complied with this request. Christoph Mohn, Chairman of the Bertelsmann Supervisory Board, said: “I am very pleased that Rolf Hellermann has agreed to serve as CFO of Bertelsmann. He is optimally qualified for this position, has a profound analytical mind, and takes a strategic perspective. He most recently demonstrated his entrepreneurial skills as CEO of Bertelsmann’s fast-growing subsidiary Arvato Financial Solutions. I am convinced that Rolf Hellermann is an ideal choice as a new member of the Executive Board. On behalf of the entire Supervisory Board, I wish him every success in his new position.”

Costco Wholesale Corporation reported net sales of $13.82 billion for the retail month of October, the four weeks ended November 1, 2020, an increase of 15.9 percent from $11.92 billion last year. For the nine weeks ended November 1, 2020, the Company reported net sales of $30.66 billion, an increase of 16.4 percent from $26.33 billion last year.

Q3 2020 Headlines: *While the COVID-19 pandemic continued to impact third quarter net sales and billings performance, HMH’s continued virtual learning support for customers and decisive cost and liquidity actions helped mitigate the impact of the COVID-19 pandemic on its profitability and cash flow, and resulted in strong cash generation in the seasonally important third quarter of 2020. *Net sales declined 32% to $387 million in the third quarter, and declined 28% to $828 million on a year-to-date basis *Billings1 declined 32% to $506 million in the third quarter, and declined 33% to $934 million on a year-to-date basis *HMH concluded the Texas Literature adoption with a 34% share of the opportunity *Significant growth in digital platform usage with a 388% increase in student assignments over the last twelve months as schools continue to adjust to remote learning environment *Continued acceleration of SaaS billings growth to 147% for the last twelve months *Net cash provided by operating activities of $264 million in the third quarter, and $75 million on a year-to-date basis *Strong free cash flow2 of $237 million in the third quarter, and nearing break-even at $(11) million on a year-to-date basis

Third Quarter 2020 Summary(1) *Total reported sales of $2.5 Billion, down 9% versus last year and up 18% sequentially compared to the second quarter of 2020. Sequential sales performance represents an 800 basis points trend improvement when comparing year-over-year revenue performance *GAAP operating income of $102 million and net income of $57 million, or $1.04 per share, each down approximately 5% year-over-year *Improved working capital conversion resulted in operating cash flow of $309 million and adjusted free cash flow of $312 million, versus $212 and $209 million, respectively in prior year *$1.7 billion of total available liquidity including $743 million in cash

Under Armour has joined a growing list of major consumer brands that are making big changes to their wholesale strategies. The athletic brand, which saw some progress in its turnaround during the third quarter, said it will begin to exit 2,000 to 3,000 stores in North America, its largest market. By the end of 2022, it expects to be in about 10,000 doors, executives said in a conference call. As it overhauls wholesale, Under Armour is also upping its focus on direct-to-consumer (D-to-C) channels, where it plans to offer fewer promotions and discounts to fuel healthier margins. Total Retail's Take: Considering the upheaval we've seen in the brick-and-mortar arena in 2020, and its uncertain future moving into 2021, it's not surprising that leading brands such as Under Armour are taking a long, hard look at their wholesale operations.

Revenues increased 2% as growth in both recurring and transactions revenues was partly offset by a decline in Global Print revenues and a negative impact from foreign currency that reduced revenues by $6 million (approximately 1%). *As expected, organic revenues increased 2%, driven by 4% growth in both recurring revenues, which comprised 80% of total revenues, and transactions revenues. *The company’s “Big 3” segments (Legal Professionals, Corporates and Tax & Accounting Professionals), which collectively comprised 79% of total revenues, reported organic revenue growth of 5%. Operating profit increased primarily due to lower costs and higher revenues. Lower costs reflected the completion of the repositioning of the company in 2019 following the separation from the Financial & Risk (F&R) business and lower expenses from the company’s COVID-19-related efforts to mitigate 2020 annual costs by $100 million. Lower costs were partly offset by higher depreciation and amortization and a lower benefit from the revaluation of warrants that the company holds in Refinitiv relating to the proposed sale of Refinitiv to London Stock Exchange Group plc (LSEG), which is discussed later in this news release.