GNC files for bankruptcy; plans to sell itself (chainstoreage.com)

The Association of American Publishers released its StatShot report for October 2023 reflecting reported revenue for Trade (Consumer Books), Higher Education Course Materials, and Professional Publishing. Total revenues across all categories for October 2023 were up 1.8% as compared to October 2022, coming in at $1.2 billion. Year-to-date revenues were up 0.7%, at $10.6 billion for the first ten months of the year. Trade (Consumer Books) revenues were up 1.3% in October, coming in at $975.0 million. In terms of physical paper format revenues during the month of October, in the Trade (Consumer Books) category, Hardback revenues were down 2.3%, coming in at $441.8 million; Paperbacks were up 5.5%, with $301.1 million in revenue; Mass Market was up 44.4% to $10.4 million; and Special Bindings were up 3.7%, with $25.8 million in revenue.

A summary of results for the first quarter ended April 30, 2022 as compared to the first quarter ended May 1, 2021: *Net sales of $813 million, up 4% as compared to last year. *Gross profit rate of 55.3%, down approximately 810 basis points as compared to last year. The year-over-year decline is driven by approximately $80 million of higher freight costs, partially offset by higher average unit retail on lower promotions. *Operating expense, excluding other operating income, net, was up 5% compared to last year. Approximately half of the increase was due to the lapping of COVID-related rent abatements and payroll credits last year, and the other half due to an increase in marketing and digital fulfillment expenses. Operating expense as a percentage of sales increased to 56.9% from 56.2% last year. *Operating loss of $10 million and $6 million on a reported and adjusted non-GAAP basis, respectively, as compared to operating income of $57 million and $60 million last year, on a reported and adjusted non-GAAP basis, respectively.

We are firmly in the second wave of prepared meal kit delivery. Companies are specializing, doing more of the work for you, and are even built around specific devices. Which is what makes FirstChop intriguing, as it combines all of these new wave trends in its forthcoming service. Launching in December, FirstChop is looking to stand out in the competitive meal shipping space in few ways. First, it only does meal proteins: chicken, beef, lamb, etc.; no vegetables, no starches. Second, all those proteins are cooked, and then frozen and vacuum sealed, so you can eat them on your own schedule. And third, the Bay Area-based company is basically giving away a sous-vide wand so all customers have to do is put the frozen bag of meat in hot water to prepare it. For $109 (during pre-order, then it goes up to $139), customers can order the Starter Kit, which includes a sous vide wand and 9 servings of protein. There’s also the Family Box for $119 ($129 post pre-order), for 24 servings, and Co-Founder and CEO Ajay Narain told me that a third option with 14 servings will sell for $79. There is no monthly commitment. Click Read More below for additional information.