AAP January 2023 StatShot: Overall Publishing Industry Up 3.5% for Month of January

*Comparable sales up 37.2% on an owned basis and up 35.6% on an owned-plus-licensed basis versus 2020; up 8.9% and up 8.7%, respectively, versus 2019 *Diluted EPS of $0.76 and Adjusted diluted EPS of $1.23 *Repurchased $300 million of shares, repaid $1.6 billion in debt ahead of schedule and paid $46 million in dividends *Added 4.4 million new customers into Macy’s brand, a 28% increase over 2019

In any industry or profession, without new birth, products, ideas, or people, there is no growth. If you’re not growing, if you’re not introducing new blood to the mix of what you have, you’re dying incrementally. And the lifecycle and growth of magazines aren’t any different than any other lifecycle. Yes, magazines come and magazines go, but just because one magazine folds it doesn’t mean the entire print medium is dying. And while in the last 20 years the number of consumer magazines in this country aimed at the general public has remained steady, averaging at around 7,000 titles, it should be noted that in those same 20 years we had at least 4,730 new magazines coming into the marketplace. And the reason I say at least, is because those were the ones that I was actually able to buy and collect ink on papers copies from. My definition was and is still is, “if it is not ink on paper, it is not a magazine.” much more at source: https://mrmagazine.wordpress.com/2021/02/04/publishing-is-believing-and-i-do-believe-a-mr-magazine-musing/

“During the second quarter, we delivered strong earnings performance in a challenging consumer environment,” said Tony Spring, chairman and chief executive officer of Macy’s, Inc. “Our colleagues executed with discipline, supporting gross margin expansion and effective expense control throughout the organization. We are seeing signs of our strategy taking root, including two consecutive quarters of positive comparable sales in Macy’s First 50 locations. We are encouraged by the early traction of our Bold New Chapter and remain committed to returning Macy’s, Inc. to sustainable profitable growth.” Second Quarter Highlights (comparisons are to the second quarter of 2023) *Diluted earnings per share of $0.53 and Adjusted diluted earnings per share of $0.53. *Net sales of $4.9 billion decreased 3.8%. *Comparable sales down 4.0% on an owned basis and down 3.3% on an owned-plus-licensed-plus-marketplace basis.