AAP June 2022 StatShot Report: Publishing Industry Down 1.6% Year-To-Date and Down 0.2% for June

Fourth Quarter 2022 - Net sales increased 9% to $149.2 billion in the fourth quarter, compared with $137.4 billion in fourth quarter 2021. Excluding the $5.0 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 12% compared with fourth quarter 2021. Operating income decreased to $2.7 billion in the fourth quarter, compared with $3.5 billion in fourth quarter 2021. Fourth quarter 2022 operating income includes approximately $2.7 billion of charges for changes in estimates related to self-insurance liabilities, impairments of property and equipment and operating leases, and estimated severance costs. These charges primarily impacted the North America segment. Net income decreased to $0.3 billion in the fourth quarter, or $0.03 per diluted share, compared with $14.3 billion, or $1.39 per diluted share, in fourth quarter 2021. All share and per share information for comparable prior year periods throughout this release have been retroactively adjusted to reflect the 20-for-1 stock split effected on May 27, 2022. Full Year 2022 - Net sales increased 9% to $514.0 billion in 2022, compared with $469.8 billion in 2021. Excluding the $15.5 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the year, net sales increased 13% compared with 2021. Operating income decreased to $12.2 billion in 2022, compared with $24.9 billion in 2021. Net loss was $2.7 billion in 2022, or $0.27 per diluted share, compared with net income of $33.4 billion, or $3.24 per diluted share, in 2021.

The Association of American Publishers (AAP) today released the StatShot Annual report covering the calendar year 2022, estimating that the U.S. book publishing industry generated $28.10 billion industry-wide during the year, a decline of 2.6% as compared to 2021. In spite of the slight decline, total industry revenue remained 8.6% higher than the $25.87 billion total recorded for the year of 2019, just prior to the onset of the pandemic. “During the year the publishing industry continued to show considerable resilience, with total revenues still above pre-pandemic levels,” commented Syreeta Swann, Chief Operating Officer, Association of American Publishers. “The fact that the five-year trend also shows consistent growth suggests that the industry is well positioned to weather a challenging economic environment and an evolving marketplace over the long haul.”

Gap Inc. reported results for the second quarter of fiscal year 2017. On a reported basis, Gap Inc.’s second quarter fiscal year 2017 diluted earnings per share were $0.68. On an adjusted basis, the company’s second quarter fiscal year 2017 diluted earnings per share were $0.58, excluding a $0.10 benefit from insurance proceeds related to the fire that occurred on the company’s Fishkill distribution center campus in fiscal year 2016 (the “Fishkill fire”). Net sales for the second quarter of fiscal year 2017 were $3.80 billion compared with $3.85 billion for the second quarter of fiscal year 2016. The translation of foreign currencies into U.S. dollars negatively impacted the company’s net sales for the second quarter of fiscal year 2017 by about $37 million. Click Read More below for additional detail.