USPS Service Performance Holds Steady Across All Mail Categories

Barnes & Noble, Inc. reported holiday sales for the nine-week holiday period ending December 30, 2017. Total sales for the holiday period were $953 million, declining 6.4% as compared to the prior year. Comparable store sales also declined 6.4% for the holiday period, while online sales declined 4.5%. Entering December, the Company was encouraged by the comparable store sales improvements throughout the second quarter and into November. Click Read More below for additional information.

Net income decreased 54% to $414 million and diluted earnings per share declined 52% to $1.61 as a result of the prior period benefiting from a pre-tax gain of $722 million on the sale of J.D. Power. Adjusted net income increased 16% to $442 million and adjusted diluted earnings per share increased 19% to $1.71. The adjustments in the third quarter of 2017 were for deal-related amortization and restructuring. Both net income and adjusted net income benefited from an accounting change associated with the recognition of excess tax benefits from stock-based compensation in 2017. "The underlying environment for our businesses is healthy with an improving global GDP, higher commodity prices, strong equity markets, and modest growth in U.S. bond issuance. With this backdrop, our Company is thriving as all of our business segments contributed solid organic revenue and adjusted operating profit growth during the quarter," said Douglas L. Peterson, President and Chief Executive Officer of S&P Global. "We continue to focus on delivering meaningful revenue growth, launching new products, investing in productivity, and returning capital to shareholders." Click Read More below for additional information.

S&P Global announced that its shareholders overwhelmingly voted to approve the Company's proposed transaction with IHS Markit at a special meeting of the Company's shareholders. Approximately 99% of votes cast were in favor of the transaction. "We are pleased with the strong support of our shareholders for our planned combination with IHS Markit," said Douglas Peterson, President and Chief Executive Officer of S&P Global. "Today's shareholder approval is an important milestone in the process of bringing together our two world-class organizations to continue building on our respective strengths in information, data science, research and benchmarks. We are confident we will drive meaningful growth and create value for our customers, employees, shareholders and other stakeholders as one company."