Dear Industry Executive: By now, you've heard plenty from us about the dire need for Congress to pass legislation to reform the US Postal Service. Passage of such a bill can potentially improve all aspects of your dealings with the USPS - better rates, service, accountability, and the like. The manager of the Coalition for a 21st Century Postal Service (C21), the mailing industry group of which ACMA is an influential member, wrote an excellent opinion piece in today's edition of The Hill, an objective daily publication that connects the players, defines the issues and influences the way Washington's decision makers view the debates on Capitol Hill. Two Quick & Easy Asks: 1. Share this influential article on social media using the buttons at the top of the op-ed from both your personal and business accounts if possible. You can also visit the C21 Facebook page to like and share from there. 2. If your business or clients rely on a healthy Postal Service, help influence Congress to move the current postal reform bills along to eventual passage. If your company has ties with any Members of the Senate Appropriations Committee (especially Democrats), encourage them to work with Sen. Jerry Moran (R-KS) on his “second review” language for the Financial Services and General Government Subcommittee of Appropriations. Click here to view a list of senators on this vital committee to see if one represents your state. As always, please alert us (via our action@catalogmailers.org address) of any/all actions you take, as it's very helpful in our broader efforts and allows our DC personnel to follow up directly. And of course, please pass this alert onto anyone you know in the catalog/remote marketing/e-com industries who you think could take similar actions.

Bertelsmann closed the first half of 2021 with a record operating result of €1.4 billion. The international media, services, and education company generated revenues significantly above the previous year’s and pre-Corona levels, as well as its highest Group result in 19 years. Four of the eight business units each recorded double-digit organic growth rates. For the full year, the company expects its business to continue to develop positively and anticipates Group profit of close to two billion euros. Bertelsmann’s first-half consolidated revenues increased by 10.7 percent over the previous year to €8.7 billion (H1 2020: €7.8 billion). Organic growth was 16.6 percent year-on-year, and 7.1 percent compared to the pre-Corona year 2019. The RTL Group, Penguin Random House, Gruner + Jahr, and Arvato divisions each recorded double-digit organic-growth rates. Operating EBITDA improved significantly to €1.4 billion (H1 2020: €1.0 billion), marking a new record. RTL Group, Penguin Random House and Arvato once again proved to be the strongest earnings pillars in the Bertelsmann Group.

The company’s second quarter fiscal year 2021 net sales of $4.2 billion were up 5% compared to 2019. Gross profit: $1.82 billion, an increase of $267 million or 17%. Gross margin: 43.3%, an increase of 440 basis points. Comparable sales were up 3% year-over-year, and up 12% versus 2019. The comparable sales calculation reflects online sales and comparable sales days for stores that were open on the same days in both the current and prior comparable period. Old Navy Global: Net Sales were up 21% versus 2019, with Old Navy maintaining its position as the #2 apparel brand in the U.S.1 Comparable sales were flat to last year and up 18% versus 2019. Gap Global: Net Sales declined 10% versus 2019, with permanent store closures resulting in an estimated 14% sales decline, and international COVID-closures driving an estimated 1% decline on a 2-year basis. Global comparable sales declined 5% year-over-year and increased 3% versus 2019. Banana Republic Global: Net Sales declined 15% versus 2019, with permanent store closures resulting in an estimated 10% sales decline, and international COVID-closures driving an estimated 1% decline on a 2-year basis. Comparable sales were up 41% year-over-year and down 5% versus 2019. Athleta: Net Sales were up 35% versus 2019. Comparable sales grew 13% year-over-year and 27% versus 2019.

Gap Inc. has acquired Drapr, an ecommerce startup and online application based on technology that enables customers to quickly create 3D avatars and virtually try on clothing. Drapr is designed to help customers find the best clothing size and fit for their personal style and body type, while helping retailers reduce unnecessary returns. “Fit is the number one point of friction for customers and, through their advanced 3D technology, Drapr has shown it can help shoppers efficiently find the size and fit they need. We plan to leverage Drapr to help Gap Inc. improve the fit experience for our customers and accelerate our ongoing digital transformation,” said Sally Gilligan, Chief Growth Transformation Officer at Gap Inc.

For the Second Quarter of Fiscal 2021 *Net sales increased 60.2% to $2.0 billion compared to $1.2 billion in the second quarter of fiscal 2020 due to the favorable impact from stronger consumer confidence and fewer COVID-19 restrictions, compared to the second quarter of fiscal 2020. *Comparable sales (sales for stores open at least 14 months, including stores temporarily closed due to COVID-19, and e-commerce sales) increased 56.3% compared to a decrease of 26.7% in the second quarter of fiscal 2020, driven by a 52.5% increase in transactions and a 2.5% increase in average ticket. Compared to the second quarter of fiscal 2019, comparable sales increased 13.1%. *Gross profit increased to $798.0 million compared to $329.0 million in the second quarter of fiscal 2020. As a percentage of net sales, gross profit increased to 40.6% compared to 26.8% in the second quarter of fiscal 2020, primarily due to leverage of fixed costs, improvement in merchandise margins, favorable channel mix shifts, and leverage of salon expenses. *Net income was $250.9 million compared to $8.1 million in the second quarter of fiscal 2020. Adjusted net income for the second quarter of fiscal 2020 was $41.5 million.

Nordstrom, Inc. reported second quarter results, which reflected continued broad-based improvement in sales trends at Nordstrom and Nordstrom Rack across categories and geographies. The Company reported net earnings of $80 million or $0.49 per diluted share, with earnings before interest and taxes (“EBIT”) of $151 million. For the second quarter ended July 31, 2021, net sales increased 101 percent from the same period in fiscal 2020 and decreased 6 percent from the same period in fiscal 2019, representing a sequential improvement of approximately 700 basis points relative to the first quarter of fiscal 2021. The timing shift of the annual Anniversary Sale, with roughly one week falling into the third quarter of 2021, had a negative impact of approximately 200 basis points on net sales compared with fiscal 2019. Adjusting for this timing shift, sales trends improved by approximately 900 basis points relative to the first quarter.

Urban Outfitters, Inc. which operates a portfolio of global consumer brands comprised of the Anthropologie, BHLDN, Free People, FP Movement, Terrain, Urban Outfitters, Nuuly and Menus & Venues brands, announced net income of $127 million and earnings per diluted share of $1.28 for the three months ended July 31, 2021. For the six months ended July 31, 2021, net income was $181 million and earnings per diluted share were $1.82. Total Company net sales for the three months ended July 31, 2021, were a record $1.16 billion. Net sales increased 20.3% compared to the three months ended July 31, 2019. Comparable Retail segment net sales increased 22%, driven by strong double-digit growth in digital channel sales, partially offset by low single-digit negative retail store sales due to reduced store traffic. By brand, comparable Retail segment net sales increased 53% at the Free People Group, 20% at Urban Outfitters and 14% at the Anthropologie Group. Total Retail segment net sales increased 24%. Wholesale segment net sales decreased 30% primarily from reducing the Free People Group’s sales to promotional wholesale customers.

Quarter-to-date service performance data for July 1 through August 20 included: *First-Class Mail: Delivered 88.8 percent of First-Class Mail on time against the USPS service performance standard, an improvement of 1.3 percentage points from the third quarter. *Marketing Mail: Delivered 92.7 percent of Marketing Mail on time against the USPS service performance standard, an improvement of 1.7 percentage points from the third quarter. *Periodicals: Delivered 82.1 percent of Periodicals on time against the USPS service standard, an improvement of 2.9 percentage points from the third quarter. Additionally, for the week of August 14-20, the Postal Service achieved its highest level of service performance recorded for the Marketing Mail category in five years, matching a previous high (93.9%) recorded in August 2016.

Nearly 180 million American workers currently pay into the Social Security system. But upwards of 150 million of them have not recently viewed an accounting of what they’ve contributed, what Social Security income they can anticipate for retirement and other vital details. This because most stopped receiving an annual paper statement in the mail years ago. And the overwhelming majority cannot or do not access this information online. The data makes clear that most wage earners do not have essential knowledge about their personal Social Security benefits, which for many will be their primary or significant source of income in their later years. Fortunately, the solution is simple: direct the Social Security Administration (SSA) to mail all workers aged 25 and older an annual paper statement, just like they did up until 2010. This is precisely what bipartisan legislation recently reintroduced in the U.S. Congress would do. Appropriately named the “Know Your Social Security Act,” the measure has strong support from citizens, consumer groups, advocates for seniors, cybersecurity experts and financial planners.

Total revenues across all categories for June 2021 were essentially flat, with an increase of 0.2% as compared to June 2020, coming in at $1.2 billion. Year to date revenues were up 18.1%, at $6.3 billion for the first six months of the year. Trade (Consumer Books) sales were down 8.0% in June, coming in at $638.5 million, but up 17.0% year to date, with $4.1 billion in revenue. In terms of physical paper format revenues during the month of June, in the Trade (Consumer Books) category, Hardback revenues were down 10.2%, coming in at $203.1 million; Paperbacks were down 8.3%, with $225.2 million in revenue; Mass Market was down 26.0% to $18.2 million; and Board Books were up 13.3%, with $14.3 million in revenue. click read more below for additional information

Three Gannett newspapers in New Jersey — Asbury Park Press, Home News Tribune and Courier News — have unionized with the NewGuild of New York, the union announced last week. “Our newsrooms have served our communities for over a century, and by forming the APP-MCJ Guild, we are ensuring our journalists are given the necessary means to serve for the next 100 years,” states Ryan Ross, on-air host and visual journalist for the Asbury Park Press. “We respect the right of employees at Asbury Park Press, the Courier News and the Home News Tribune to make a fully informed choice for themselves whether to unionize or not to unionize,” says Thomas C. Zipfel, Gannett's labor relations counsel.

At the end of 2020, the Hachette Book Group was the fourth-largest trade publisher in the country, with estimated annual sales of roughly $700 million. When the acquisition of Simon & Schuster—the third-largest trade publisher—by #1 trade publisher Penguin Random House is finally completed, HBG will move into the third spot. Last week, HBG took a major step to ensure that it will assume S&S’s position as the largest trade publisher behind PRH and HarperCollins, with its agreement to acquire Workman Publishing for $240 million. One of few remaining independent publishers of its size, Workman had sales of $134 million last year, and its addition will get HBG revenue over the $800 million level.

The Board of Directors announced the selection of the Chief Executive Officers (CEO) and company names for each of the two companies, which would become effective upon the completion of the spin-off: *The ODP Corporation – a leading B2B solutions provider serving small, medium and enterprise level companies, will consist of several operating companies, including the contract sales channel of ODP’s current Business Solutions Division, which will be renamed ODP Business Solutions, and ODP’s newly formed B2B digital platform technology business, which will be named Varis. ODP Business Solutions and Varis will be owned by ODP, but operated as separate businesses. ODP will also continue to own the global sourcing operations and other sourcing, supply chain and logistics assets. Gerry Smith will continue to serve as CEO of The ODP Corporation following the separation. *Office Depot – 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, will be spun-off and will be named Office Depot, Inc. Kevin Moffitt, currently EVP, Chief Retail Officer of The ODP Corporation, will be appointed CEO of Office Depot upon completion of the spin-off.

Fourth-quarter service performance for July 1 through August 12 included: *First-Class Mail: Delivered 88.8 percent of First-Class Mail on time against the USPS service standard, an improvement of 1.3 percentage points from the third quarter. *Marketing Mail: Delivered 92.6 percent of Marketing Mail on time against the USPS service standard, an improvement of 1.6 percentage points from the third quarter. *Periodicals: Delivered 82.4 percent of Periodicals on time against the USPS service standard, an improvement of 3.1 percentage points from the third quarter. The Postal Service’s recent service delivery improvements have been, in part, the result of a strategic shift to more ground deliveries, decreasing the agency’s reliance on the limited cargo capacities of third-party air carriers, and improved network efficiencies.

Highlights: *Second quarter net sales and earnings exceed expectations and company raises full year 2021 financial outlook *Second quarter net sales increase 31.4% *Record second quarter diluted earnings per share of $2.48 and company raises full year 2021 guidance to $5.80 to $6.10 *Strengthened financial position during the quarter, ending with $2.6 billion in cash *Repurchased $255 million of shares in the quarter and now plans to repurchase $500 million to $700 million of shares in 2021. “Our performance in the second quarter marked another important step in further establishing Kohl’s as the leading destination for the active and casual lifestyle. We delivered record second quarter earnings with sales and margins materially exceeding expectations. As pleased as we are with our ongoing strategic progress, much of our opportunity is still ahead of us. We are on the eve of launching several transformational partnerships that will drive sustainable growth for years to come,” said Michelle Gass, Kohl’s chief executive officer.

HH Global is pleased to announce the completion of the acquisition of Adare International (including Purple Agency), from the private equity firm Endless LLP, following the signing of an agreement on Monday 21 June 2021. The combined business will generate approximately $2.1bn in annual sales. This deal will create a joint global business with over 4,000 employees and a presence in more than 65 countries, cementing HH Global’s position as market leader. It will also allow stronger in-country operations, helping to propel seven of our local markets to achieve local annual run rates of over $50m revenue for the first time. Mike Perez, Group CEO of HH Global, expressed “Following on from the successful integration of InnerWorkings in October last year, we are thrilled to join forces with Adare International. Welcoming new clients and colleagues on board is always an exciting process, and the strength of Adare International in these areas was a key motivation for our interest in acquiring them. I’m also particularly excited to enhance our capabilities in creative services in the healthcare and B2B sectors with Purple Agency, and to take advantage of the enhanced geographical reach and local revenue within their regional operations.”

Fourth-quarter service performance for July 1 through August 6 included: *First-Class Mail: Delivered 88.9 percent of First-Class Mail on time against the USPS service standard, an improvement of 1.4 percentage points from the third quarter. *Marketing Mail: Delivered 92.6 percent of Marketing Mail on time against the USPS service standard, an improvement of 1.6 percentage points from the third quarter. *Periodicals: Delivered 82.9 percent of Periodicals on time against the USPS service standard, an improvement of 3.6 percentage points from the third quarter. For the week of July 31 – August 6, Periodicals, including newspapers and magazines, reached the highest service performance level (84.8 percent) reported for that category in nearly a year and a half, since the week of March 28 – April 3, 2020 (85.3 percent).

Amazon is on pace to spend over $120 billion on supplies and services from businesses in the U.S. in 2021. The purchases are from more than 200,000 companies that operate in communities across the country that help keep Amazon running—from electric vehicle manufacturers to cardboard box producers to construction and engineering firms. The 2021 spending represents an increase of 20% year over year and does not include any of the products Amazon buys and sells to customers in its stores. “Millions of families rely on us to deliver what they need every day,” said Dave Clark, CEO of Worldwide Consumer at Amazon. “Delivering for our customers takes teamwork—we can’t do it alone. We rely on strong partnerships with hundreds of thousands of American businesses—from our forklift manufacturer in Kentucky to the construction company in Texas that builds our delivery stations. Today is about renewing our commitment to these businesses and betting big on them.”

Many parents around the United States are sending their children back to school soon — in person and full time. Students and teachers, who may not have seen one another in months, will face several challenges related to the coronavirus pandemic, such as learning loss and economic disparities. The good news? Paper can help. Research is mixed on the effects of the pandemic on students, but in a poll of 1,000 public school educators conducted by the Horace Mann Educators Corporation, 97 percent of teachers reported seeing some learning loss in their students during the past year compared to previous years. Data from McKinsey in December 2020 noted that students of color were about three to five months behind in learning due to lower access to technology, the internet and in-person learning support. Reading and math are two paper-intensive subjects that typically require access to textbooks, library books and/or notebook paper. Paper can help bridge the divide in learning achievement caused by the pandemic and related economic challenges. click read more for the rest of the article

The recent passage of the “No Surprises Act” is being hailed as a major victory for patients and consumers. Effective January 1, 2022, the new federal law will prevent patients from receiving surprise medical bills resulting from gaps in coverage for emergency services and certain services provided by out-of-network doctors and other providers at in-network facilities. Unfortunately, critical documentation that medical consumers rely on to catch and dispute these surprises might not be where they’ve always found it: in their mailbox. Explanation of Benefits (EOBs) are essential notices that help patients understand how much each service costs, how much their insurance plan will cover, and how much they will have to pay their doctor or hospital. Until very recently, it had been a universal health insurance industry best practice to mail paper EOBs to plan members by default. read much more at: https://keepmepostedna.org/new-consumer-protections-against-surprise-medical-bills-are-compromised-when-healthcare-providers-stop-delivery-of-paper-explanation-of-benefits/

Revenues grew to $3.0 billion, up 5 percent. Earnings from continuing operations were $307 million, compared to a loss of $209 million. Adjusted EBITDA was $683 million, compared to $548 million. Key accomplishments included: *Digital advertising revenues surpassing magazine for the first time in Meredith's history. Digital advertising grew 31 percent. Additionally, Meredith's licensing and digital and other consumer driven revenues grew 27 percent and 25 percent, respectively. *$254 million debt reduction, enabled by record Cash Flow from Operations and Free Cash Flow. Debt reduction was enabled by total company revenue performance along with proactive actions to enhance Meredith's financial flexibility. *Agreeing to sell Meredith's Local Media Group for $2.825 billion, representing a 10x valuation. The transaction, which also includes spinning Meredith's National Media Group, comprising digital and magazine, out to shareholders, is expected to advance the company's financial priorities including reducing net debt, improving financial flexibility, optimizing capital allocation to high-potential opportunities, and providing returns to shareholders.

Dear Industry Member: Representatives from the Coalition for a 21st Century Postal Service (C-21), including ACMA’s Hamilton Davison, recently hosted staffers from a half dozen Congressional offices. The event was opened by mailing industry proponent Rep. Glenn Grothman (R-WI-6th, pictured at right). In addition to stressing the importance of the Postal Service, the goal was to educate a new crop of Capitol Hill postal staffers from offices that are not as familiar with what keeps the USPS delivering affordably and reliably and the need for legislation now. Representing Marketing Mail interests, Davison emphasized the potentially fatal impact the impending August 30th postage increase will have on catalog and other mailers’ future use of the mail. Other C-21 members discussed similar problems for the other mail classes from the rate hike as well as the USPS’s deliberate slowdown of mail delivery. see more detail at: https://catalogmailers.org/mailing-industry-coalition-briefs-congress-to-spur-action-on-postage-increases/

The United States Postal Service filed notice today with the Postal Regulatory Commission (PRC) regarding a temporary price adjustment for key package products for the 2021 peak holiday season. This temporary rate adjustment is similar to one in 2020 that anticipated heightened peak-season package and shipping demand, which typically results in extra handling costs. The planned peak-season pricing, which was approved by the Governors of the Postal Service on Aug. 5, would affect prices on commercial and retail domestic competitive parcels – Priority Mail Express (PME), Priority Mail (PM), First-Class Package Service (FCPS), Parcel Select, USPS Retail Ground, and Parcel Return Service. International products would be unaffected. Pending favorable review by the PRC, the temporary rates would go into effect at 12:00 a.m., Central Time, on Oct. 3, 2021, and remain in place until 12:00 a.m., Central Time, Dec. 26, 2021. This seasonal adjustment will bring prices for the Postal Service’s commercial and retail customers in line with competitive practices. No structural changes are planned as part of this limited pricing initiative.

The Atlantic has reached a paid circulation of 833,410 for the first half of 2021, the largest in its 164-year history, Editor In Chief Jeffrey Goldberg and CEO Nicholas Thompson announced in a message to the staff. The number, which had been filed with the Alliance for Audited Media (AAM), includes both print and digital subscribers, including those on the iOS app and Apple News+. Growth has gone from 474,274 two years ago to 252,242 in the first half of 2020.

The U.S. Postal Service today announced its financial results for the 2021 third quarter ended June 30, reporting a net loss of approximately $3.0 billion, compared to a net loss of approximately $2.2 billion for the same quarter last year. Excluding the combined effects of non-cash workers' compensation adjustments due to fluctuations in discount rates and other actuarial revaluations, the loss for the quarter would have been approximately $2.3 billion, compared to a loss of approximately $2.4 billion for the same period last year. The Postal Service reported operating revenue of approximately $18.5 billion for the third quarter of fiscal 2021, an increase of $845 million, or 4.8 percent, compared to the same quarter last year. Marketing Mail revenue increased by approximately $1.0 billion, or 42.2 percent, on volume growth of approximately 4.3 billion pieces, or 38.6 percent. Marketing Mail experienced steep volume declines at the onset of the pandemic last year, but has been rebounding as the economy continues to recover. First-Class Mail revenue increased by $54 million, or 1.0 percent, on volume growth of 130 million pieces, or 1.1 percent, as the economy continues to recover. Shipping and Packages revenue decreased by $646 million, or 7.8 percent, on a volume decline of 300 million pieces, or 14.1 percent, compared to the same quarter last year, as a pandemic surge in demand for package deliveries began to abate.

For the Three Months Ended July 3, 2021: Net sales increased 45% to $357.7 million, compared to $246.9 million during the same period last year. *Direct-to-consumer (“DTC”) channel net sales increased 48% to $196.9 million, compared to $133.0 million in the prior year quarter, driven by strong performance in both Drinkware and Coolers & Equipment. The DTC channel grew to 55% of net sales, compared to 54% in the prior year period. *Wholesale channel net sales increased 41% to $160.8 million, compared to $113.9 million in the same period last year, driven by both Drinkware and Coolers & Equipment. In the second quarter of 2020, wholesale channel net sales were adversely impacted by the temporary store closures due to COVID-19. *Drinkware net sales increased 69% to $192.9 million, compared to $114.3 million in the prior year quarter, primarily driven by the continued expansion of our Drinkware product offerings, including the introduction of new colorways and sizes, and strong demand for customization. *Coolers & Equipment net sales increased 23% to $157.8 million, compared to $128.6 million in the same period last year, driven by strong performance in soft coolers, bags, outdoor living products, cargo and hard coolers. Gross profit increased 52% to $209.1 million, or 58.5% of net sales, compared to $137.5 million, or 55.7% of net sales, in the second quarter of 2020.

Fourth-quarter service performance for July 1 through July 30 included: First-Class Mail: Delivered 89.0 percent of First-Class Mail on time against the USPS service standard, an improvement of 1.5 percentage points from the third quarter. Marketing Mail: Delivered 92.6 percent of Marketing Mail on time against the USPS service standard, an improvement of 1.6 percentage points from the third quarter. Periodicals: Delivered 82.7 percent of Periodicals on time against the USPS service standard, an improvement of 3.4 percentage points from the third quarter. For the week of July 24 - 30, Marketing Mail maintained the highest service performance level (93.7 percent) reported for that category in nearly five years, since the week of August 20-26, 2016 (93.9 percent).

Second Quarter 2021 Financial Highlights: • Total revenues of $804.3 million rose 4.9% compared to the prior year quarter ◦ Same store revenues (as defined and reconciled on Table No. 5 below) increased 6.8% compared to the second quarter of 2020 • Total digital revenues were $259.3 million or 32.2% of total revenues • Net income attributable to Gannett of $15.1 million • Adjusted EBITDA totaled $115.8 million, an increase of $37.8 million or 48.4% compared to the second quarter of 2020 and represented a 14.4% margin • Net cash flow provided by operating activities of $31.3 million • Free cash flow of $23.1 million

Fiscal 2021 Full Year Key Financial Highlights: *Revenues were $9.36 billion, a 4% increase compared to $9.01 billion in the prior year, reflecting a 30% increase in the fourth quarter *Net income of $389 million compared to a net loss of $(1.55) billion in the prior year, which included non-cash impairment charges of $1.69 billion *Total Segment EBITDA was $1.27 billion compared to $1.01 billion in the prior year *Diluted EPS were $0.56 compared to $(2.16) in the prior year – Adjusted EPS were $0.67 compared to $0.22 in the prior year *Revenues at Move, operator of realtor.com®, grew 36% year-over-year, with 68% growth in the fourth quarter, which was an acceleration from the prior quarter growth rate. Average monthly unique users grew 32% in the fourth quarter *Dow Jones saw record digital subscriptions, continued robust growth at Risk & Compliance and a strong increase in digital advertising revenues *Foxtel’s streaming products exceeded 2 million total paid subscribers as of year end, driving 40% total paid subscriber growth *Book Publishing continued to benefit from strong consumption patterns with 19% revenue growth *Announced agreement to acquire OPIS, a leading data and analytics provider for energy and commodities markets, to bolster Dow Jones’ Professional Information Business

The international media, services, and education company Bertelsmann has completed the acquisition of 25 percent of the capital shares and 46 percent of the voting rights in the Nasdaq-listed education company Afya in Brazil. The Brazilian antitrust authorities had previously given their approval. The transaction, which significantly expands Bertelsmann’s involvement in the Brazilian education market, has a volume of €500 million. Bertelsmann will provide three of the eleven members of the company’s Board of Directors from now on. Afya is the leading provider of medical education and training in Brazil. Bertelsmann acquired the shares in the company from Crescera Educacional II, a fund launched in 2014 by Crescera Capital with Bertelsmann as the main investor. Afya is now to be developed further in cooperation with the Esteves founding family, which holds 24 percent of the shares and 45 percent of the voting rights, and the company’s successful management.

The media companies RTL Deutschland and Gruner + Jahr are joining forces to form a new national cross-media champion. The decision follows a review process lasting several months, with the aim of deepening the successful collaboration between the country’s leading private TV, radio, and streaming group and the publishing house with its powerful brands. The new company will start operating as one at the beginning of next year. Bertelsmann CEO Thomas Rabe says: “The relevant bodies, RTL Group’s Board, and Bertelsmann’s Executive Board and Supervisory Board, have come to the conclusion that RTL Deutschland and G+J can better exploit their growth potential together. By forming this national media champion, Bertelsmann is implementing its strategic priorities as it has already done in France, the Netherlands and Belgium. This will strengthen our media businesses in the German market in the competition with the global tech platforms,” Rabe continued, “No other media company in this country can create such a cross-genre growth alliance. RTL Deutschland and G+J are a content powerhouse that combines the content expertise of 1,500 journalists, among other things. The companies bring together strong content and brands across the various media under one roof. This will generate annual synergies of around 100 million euros – largely due to growth.”

Costco Wholesale Corporation reported net sales of $15.21 billion for the retail month of July, the four weeks ended August 1, 2021, an increase of 16.6 percent from $13.04 billion last year. For the forty-eight weeks ended August 1, 2021, the Company reported net sales of $176.30 billion, an increase of 17.8 percent from $149.66 billion last year.

Highlights from the quarter include: *Raising 2021 billings guidance to $980-1,020 million and unlevered free cash flow guidance to 12-14% of billings *Strong billings growth across the Company of 25% in Q2 and 21% YTD as demand for teaching and learning solutions grows with students returning to classrooms this fall *Annualized Recurring Revenue (ARR)2 growth accelerated 106% bringing ARR to $77 million, or 8% of trailing twelve-month billings. Net Retention Rate (NRR)2 was 154% *Trailing twelve-month free cash flow of $101 million, an improvement of $29 million compared to the first quarter of 2021, reflecting strong operating leverage and the benefits of 2020 actions to align HMH’s cost structure with its Digital First, Connected strategy *Gross leverage ratio of 1.8x, below HMH’s target leverage ratio of 2.0x adjusted EBITDA

In a reversal of the usual flow of things, GrillGirl.com founder Robyn Lindars has started a print magazine. Grill Girl is available at retailers and grocery stores nationwide, including Barnes & Noble, CVS and Walmart. Lindars, who started offering outdoor grilling recipes in 2008, went into print to help “elevate everyone’s grilling game,” she states. Each issue will feature over 25 recipes and advice on how to pick the right grill, grill the perfect steak, cook an entire meal on the grill and plank grill pizzas.

Total revenues for the second quarter of 2021 increased 23.5 percent to $498.5 million from $403.8 million in the second quarter of 2020. Subscription revenues increased 15.7 percent to $339.2 million, advertising revenues increased 66.4 percent to $112.8 million and other revenues increased 8.7 percent to $46.5 million. Compared with the second quarter of 2019, total revenues increased 14.3 percent, as subscription revenues increased 25.4 percent, advertising revenues declined 6.6 percent and other revenues increased 3.3 percent. Total operating costs increased 12.4 percent in the second quarter of 2021 to $421.4 million compared with $374.9 million in the second quarter of 2020, while adjusted operating costs increased 15.4 percent to $405.6 million from $351.6 million in the second quarter of 2020. Compared with the second quarter of 2019, total operating costs increased 5.8 percent, while adjusted operating costs increased 6.5 percent.

Total reported sales for the second quarter of 2021 were $2.3 billion, an increase of 6% compared to the second quarter of 2020. The year-over-year increase in revenue was partially driven by stronger business activity as the public sector returned to work and schools began to return to in-class learning. Product sales in the second quarter were up 6% relative to the prior year period, driven by stronger demand for core supply product categories, workspaces and technology. Service revenue in the first quarter was up 8%, largely related to stronger demand for managed print and fulfillment, as well as copy and print services in both BSD and Retail Divisions. The Company reported operating loss of $78 million in the second quarter of 2021, compared to operating loss of $456 million in the prior year period. GAAP operating results in the second quarter included $122 million of charges including $115 million of non-cash asset impairment charges, and $7 million in net merger, restructuring and other operating costs. Asset impairment charges of $115 million in the second quarter of 2021 included $114 million related to impairment of goodwill and other intangible assets at CompuCom, largely related to the macroeconomic effects of COVID-19 on current business conditions. Net merger, restructuring and other operating costs of $7 million were primarily associated with the planned separation of B2B operations. Net loss was $88 million, or $(1.62) per diluted share in the second quarter of 2021, compared to net loss of $439 million, or $(8.19) per diluted share in the second quarter of 2020.

At HH Global it is important to us that we ensure our organisation grows both responsibly and sustainably, therefore our Innovation with Purpose strategy continues to evolve. A key objective of this is to enhance and develop our holistic approach to Environmental, Social and Governance (ESG) activities. The ambitions of many organisations are yet to be distilled into targets in this area. HH Global is demonstrating genuine leadership by showing our clients, colleagues and suppliers the commitments we are making, relevant not only to our own operations but to the whole of our supply chain.

Due to an anticipated large gathering of people during the ongoing COVID-19 pandemic, out of an abundance of caution for the safety and health of our employees and the public, the Aug. 6, 2021, open session meeting of the U.S. Postal Service Board of Governors will now be conducted by live audio webcast only, with no in-person attendance. With no in-person attendance, the Postal Service is cancelling the previously scheduled public comment period that was to have been conducted following the adjournment of the meeting. The Board is expected to discuss the following items at the Aug. 6 meeting beginning at 9:00 a.m. ET: *Call to Order and Opening Remarks of the Chairman *Remarks of the Postmaster General and CEO *Approval of Minutes *Committee Reports *Quarterly Financial Report *Quarterly Service Performance Report *Approval of Tentative Agenda for November Meetings *Adjournment

S&P Global and IHS Markit announced an agreement to sell IHS Markit's Oil Price Information Services (OPIS); Coal, Metals and Mining; and PetroChem Wire businesses to News Corp in a cash transaction valued at approximately $1.150 billion. The sale is expected to be completed at the close of the merger between S&P Global and IHS Markit. The agreement marks the culmination of S&P Global and IHS Markit's previously announced decision to explore a divestiture of these businesses and represents an important milestone on the path to regulatory approval for the merger between S&P Global and IHS Markit.

Grainger reported results for the second quarter 2021 with sales of $3.2 billion, up 13.1% and up 15.0% on an organic, daily, constant currency basis compared to the second quarter 2020. Both the High-Touch Solutions N.A. and Endless Assortment segments produced strong top-line growth. Gross margin for the second quarter of 2021 was 35.0%, a 75 basis point decline over the prior year quarter driven by pandemic-related inventory adjustments recorded in the High-Touch Solutions N.A. segment. Reported operating earnings for the second quarter of 2021 of $334 million were up 62% versus the second quarter of 2020, primarily due to losses taken in the second quarter of 2020 related to the divested Fabory business.