IDC: Top 10 predictions for global retail in 2023

The United States Postal Service today released its 10-year Plan, ‘Delivering for America’, to return the organization to financial sustainability and achieve service excellence while maintaining universal six-day mail delivery and expanding seven-day package delivery. “The need for the U.S. Postal Service to transform to meet the needs of our customers is long overdue,” said Postmaster General and Chief Executive Officer Louis DeJoy. “Our Plan calls for growth and investments, as well as targeted cost reductions and other strategies that will enable us to operate in a precise and efficient manner to meet future challenges, as we put the Postal Service on a path for financial sustainability and service excellence.” “The Board challenged Postal management to devise a Plan that was firmly rooted in our public service mission to bind the nation together,” said Ron Bloom, Chairman of the United States Postal Service Board of Governors. click read more below

Daily sales for the quarter increased 11.7% compared to the third quarter of 2020 with the same number of selling days. On an organic, constant currency basis, which excludes revenues from the divested China business from the prior year results, daily sales increased 11.9% as compared to the third quarter of 2020. Foreign exchange contributed a 0.1% favorable impact during the third quarter of 2021 compared to the third quarter of 2020. Gross margin for the third quarter of 2021 was 37.1%, a 145 basis point increase over the prior year quarter driven by solid margin expansion in both segments. Reported and adjusted operating earnings for the third quarter of 2021 of $438 million were up 16% on a reported basis, and up 17% on an adjusted basis, versus the third quarter of 2020. Net cash provided by operating activities was $161 million and $311 million for the three months ended September 30, 2021 and 2020, respectively.

Pearson and TC Media announce the sale of ERPI (‘Éditions du renouveau pédagogique inc.’) by Pearson to TC Media. ERPI is a Québec educational publisher founded in Montréal in 1965 and acquired by Pearson in 1989. "We are proud to acquire ERPI, a long-standing educational publisher", said Patrick Lutzy, President of TC Media. "This acquisition fits perfectly with our growth strategy as it complements TC Media’s educational products offering, both print and digital, and provides an opportunity to further grow ERPI’s brand alongside our brands such as Chenelière Éducation, Beauchemin and Modulo. I wish a very warm welcome to ERPI’s team."