Walgreens Boots Alliance and McKesson Complete the Formation of German Wholesale Joint Venture

ACMA's Legal Team Successfully Leads Online Seller Newegg in 'Bama. While not necessarily a precursor to the forthcoming Supreme Court decision in South Dakota v. Wayfair, Inc., we're excited to report a significant win for ACMA’s lawyers at Brann & Isaacson. Yesterday, the Alabama Tax Tribunal ruled in favor of e-commerce merchant Newegg in its challenge when the Alabama Department of Revenue sought enforcement of its economic nexus regulation in 2016. This ruling negates the first significant “Kill Quill” measure by Alabama Commissioner of Revenue Julie Magee, to promulgate the rule that required companies such as Newegg to register to collect the sales tax even though they did not have a physical presence. Newegg was one of the few companies that fought the Department. Click Read More below for additional information.

Total Company net sales for the two months ended December 31, 2022 increased 2.3% compared to the two months ended December 31, 2021. Total Retail segment net sales increased 1%, with comparable Retail segment net sales increasing 2%, partially offset by a 1% negative impact of foreign currency translation. The increase in Retail segment comparable net sales was driven by low single-digit positive growth in digital channel sales and low single-digit positive growth in retail store sales. By brand, comparable Retail segment net sales increased 15% at the Free People Group and 7% at the Anthropologie Group and decreased 10% at Urban Outfitters. Wholesale segment net sales decreased 22% driven by a decrease in Free People wholesale sales primarily due to a decrease in sales to department stores. Nuuly segment sales increased 150% due to a 153% increase in our subscribers during the two months ended December 31, 2022, as compared to the prior year period. For the eleven months ended December 31, 2022, total Company net sales increased 5.1% compared to the eleven months ended December 31, 2021. Comparable Retail segment net sales increased 4%, driven by high single-digit positive growth in retail store sales due to increased store traffic and low single-digit positive growth in digital channel sales. Wholesale segment net sales decreased 3%, primarily driven by a decrease in Free People Group wholesale sales primarily due to a decrease in sales to department stores, partially offset by an increase in sales to specialty accounts. Nuuly segment sales increased 176% due to a 187% increase in our subscribers during the eleven months ended December 31, 2022, as compared to the prior year period.

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.