April Bookstore Sales Tumbled 65.3% (publishersweekly.com)

The U.S. Postal Service filed notice with the Postal Regulatory Commission (PRC) requesting approval to make certain Mail Classification Schedule (MCS) changes to establish two Mail Growth Incentives - a First-Class Mail Growth Incentive and a Marketing Mail Growth Incentive. If approved, the incentives will run from Jan. 1, 2024 through Dec. 31, 2024. The First-Class Mail and Marketing Mail Growth Incentives are being offered to mail owners to promote volume growth in 2024 and into the future. These two incentives will drive mail owners to increase the volume of First-Class and Marketing mail entering the network while providing them lower overall postage costs on incremental growth — allowing mail owners to maximize total return on investment, by providing additional cost-savings and strengthening the value of mail.

In a dramatic changing of the guard at the niche magazine publisher, F+W Media has dismissed its CEO, COO, and CTO, Folio: has learned. The company’s board of directors revealed Monday its decision to part ways with CEO Tom Beusse, COO Joe Seibert, and CTO Joe Romello, installing Greg Osberg, CEO of media consulting firm Revlyst, as F+W’s interim CEO while a replacement is sought. After determining that a change was needed, Osberg tells Folio:, ownership decided to bring him on—as well as a team of consultants from business advisory firm FTI Consulting—in a move that’s less an indictment of existing management’s strategic plan, but rather indicative of a desire to expedite the company’s necessary transformation. Click Read More below for additional information.

*Total net sales were $206.1 million, an increase of $65.8 million or 46.9%, compared to $140.3 million last year. -Net sales from physical stores were $165.3 million, an increase of $60.7 million or 58.1%, compared to $104.6 million last year. -Net sales from e-commerce were $40.8 million, an increase of $5.1 million or 14.3%, compared to $35.7 million last year. E-commerce net sales represented 19.8% of total net sales compared to 25.5% of total net sales last year. -Total comparable net sales for the third quarter of fiscal 2021 compared to the pre-pandemic third quarter of fiscal 2019 increased by 27.4%. *Gross profit was $76.7 million, or 37.2% of net sales, a record in the Company's history as a public company, compared to $40.7 million, or 29.0% of net sales, last year. *Operating income improved to $29.0 million, or 14.1% of net sales, compared to $3.5 million, or 2.5% of net sales, primarily due to the significant increase in net sales. *Net income improved to $20.8 million, or $0.66 per diluted share, which are third quarter records for the Company as a public company, compared to $2.1 million, or $0.07 per diluted share, last year.