Higher book prices, the continuing strength of the audiobook market, and acquisitions combined to lift worldwide sales 8.5% at Penguin Random House in 2024 over 2023 and profits rose 11.3%, reported parent company Bertelsmann. Revenue increased to €4.9 billion ($5.3 billion at current exchange rates) and operating EBITDA (earnings before interest, taxes, depreciation, and amortization) rose to €739 million from €664 million in 2023. Bertelsmann said PRH, which had a challenging 2023, performed better than expected. Acquisitions played a particularly important part in boosting sales in the U.S. Its January 2024 purchase of Hay House added €73 million to sales last year. PRH paid €85 million for Hay House, of which €50 million was paid in cash with the balance being paid in four equal annual installments. Also during 2024, PRH acquired Boom! Studios and the publishing assets of Amber-Allen Publishing, while upping its stake in high-flying Sourcebooks to 75% from 53% in 2023.

Following the strong financial performance of Springer Nature released on 18 March, the company today issues its first annual report showing how Springer Nature is delivering on its mission to be part of progress. In 2024, research was made more visible for authors, more freely available and more trusted for all, with better value for money delivered for customers. Frank Vrancken Peeters, Chief Executive Officer of Springer Nature, said: “I am very proud of how we continue to deliver on our mission to be part of progress. We remain focused on serving our community by enabling millions of researchers, educators, learners and health professionals to, every day, access, trust and make sense of the latest insights and discoveries.” The annual report additionally sets out how it is supporting its wider communities around the world including: In the US, where Springer Nature continued its outreach activities bringing policymakers and scientists together as part of its annual Science on the Hill event which this year focused on the science and policy of space junk. In India, where the company undertook its second extensive research tour to over 24 research institutions to promote open access and support integrity.

Savvas Learning Company, a next-generation K-12 learning solutions leader, is excited to announce that its complete line of enVision K-12 math programs has been approved by the Virginia Board of Education for statewide adoption across all grade levels in Virginia classrooms. With a proven instructional design featuring problem-based learning, performance tasks, and visual instruction, enVision math programs give students multiple ways to learn and teachers robust resources to personalize learning. The Savvas high-quality instructional materials for Virginia that align to the state’s 2023 Mathematics Standards of Learning include: *enVision Mathematics Grades K-5 *enVision Mathematics Virginia Grades 6-8 *enVision A|G|A Virginia (Algebra 1, Geometry, Algebra 2)

Robert M. “Mike” Duncan, one of the Governors of the United States Postal Service, today announced that he is resigning his position on the board of governors due to health reasons. His resignation is effective immediately. Duncan has served on the board since August 2018 and was chairman from September 2018 to February 2021. Duncan’s current term on the board was set to expire this December. A copy of his letter of resignation can be found here. “My fellow governors and I are grateful to Mike Duncan for his service to this Board and to the Postal Service,” said Amber McReynolds, chairwoman. “In 2018, Mike was tasked with reestablishing the Board’s governance and operations after it had gone more than a year without any presidentially appointed governors. His leadership and vision for the Postal Service have played a big role in our efforts to create long-term sustainability for this critical organization.” “Mike Duncan’s business and political acumen was a great asset to the Postal Service during a period of historic transformation,” said acting Postmaster General Doug Tulino. “He has been an important leader for the Board, and Postal Service leadership is happy to have had his counsel and insights during this critical time.”

As required by title 39 of the U.S. Code, today the Postal Regulatory Commission issued the FY 2024 Annual Compliance Determination assessing the Postal Service’s compliance with standards for service performance and legal requirements for rates. The Determination is based on an analysis of information provided by the Postal Service. The law requires the Commission to take action to address noncompliance by the Postal Service. The Commission finds that 19 out of 27 Market Dominant products or categories failed to meet their service performance targets and no category of First-Class Mail met its target in FY 2024. The Commission directs the Postal Service to take corrective action to improve service performance and increase transparency. For Competitive products as a whole, the Commission finds that total revenues were higher than cost coverage requirements, meeting the law’s prohibition against cross-subsidizing Competitive products. The Commission also finds that some Market Dominant mail classes and products failed to cover their costs, while multiple Competitive products did not cover their costs. For individual products and classes that lost money in FY 2024, the Commission directs the Postal Service to take action to ensure that these products comply with the law by covering their costs.

Total revenues across all categories for January 2025 were down 0.7% as compared to January 2024, coming in at $1.2 billion. Trade (Consumer Books) revenues were down 0.3% in January at $741.5 million. In terms of physical format revenues during the month of January, in the Trade (Consumer Books) category, Hardback revenues were up 0.1%, coming in at $267.5 million; Paperbacks were down 4.3%, with $254.6 million in revenue; Mass Market was down 16.7% to $11.2 million; and Special Bindings were up 18.8%, with $19.9 million in revenue. In terms of digital formats, eBook revenues were up 0.9% for the month as compared to January 2024 for a total of $78.5 million, and the Digital Audio format was up 6.1% for January, coming in at $85.1 million in revenue. Physical Audio was down 2.5%, coming in at $600 thousand.

A federal court has denied motions by OpenAI and Microsoft to dismiss the copyright infringement case brought against them last year by eight newspapers owned by MediaNewsGroup and Tribune Publishing, and by the Center For Investigative Reporting. U.S. District Judge Sidney H. Stein said he will issue an opinion later on the reasons for his decision. But for now, Stein said he denies: OpenAI's motions to dismiss the direct infringement claims involving conduct occurring more than three years before the complaints were filed; The defendants' motions to dismiss the contributory copyright infringement claims; and The defendants' motions to dismiss the state and federal trademark dilution claims in the Daily News action.

“After nearly five years as America’s 75th Postmaster General, and after informing the Governors in February of my intention to retire, I have today informed the Postal Service Board of Governors that today will be my last day in this role. I believe strongly that the organization is well positioned and capable of carrying forward and fully implementing the many strategies and initiatives that comprise our transformation and modernization, and I have been working closely with the Deputy Postmaster General to prepare for this transition. While our management team and the men and women of the Postal Service have established the path toward financial sustainability and high operating performance – and we have instituted enormous beneficial change to what had been an adrift and moribund organization – much work remains that is necessary to sustain our positive trajectory. I am confident that Doug will continue our positive momentum during the period when the Governors undertake the important work of identifying and selecting the next Postmaster General. I also have no doubt that the entirety of the Postal Service will aggressively shape its future and become more efficient, capable, and competitive as it continuously changes and improves to best serve the American public. It is with great pride that I pass the baton to Deputy Postmaster General, Doug Tulino, until the Governors name my permanent successor. The Governors have hired a search firm in support of those efforts, which are well underway. I shall cheer on America’s 76th Postmaster General and the 640,000 men and women of the United States Postal Service who I have called my colleagues and friends for close to five years. It has been one of the pleasures of my life and a crowning achievement of my career to have been associated with this cherished institution, the United States Postal Service.”

Savvas Learning Company, a next-generation K-12 learning solutions leader, is excited to introduce Experience Science, a brand-new program for grades K-8 that brings science concepts to life through real-world phenomena and hands-on explorations, empowering students to learn science by doing science. Experience Science offers a highly flexible, standards-aligned curriculum with interactive resources that make science engaging and accessible for all learners. The program also makes teaching science easier, with robust planning support and grab-and-go materials that enable teachers to fit science instruction into their day. The streamlined curriculum, which was developed in collaboration with educators, is adaptable to any classroom setting and offers math and literacy skills support and differentiated instruction so all learners can be successful.

RTL Deutschland is reorganizing its publishing business, and selling the Gruner + Jahr brands “Brigitte,” “Gala” and “Eltern” to Funke Mediengruppe as part of the reorganization. The titles are synonymous with high-quality journalistic content and high brand recognition in the German media market. The brands’ approximately 300 employees will be taken over by Funke Mediengruppe with their existing employment contracts. The sale is subject to approval by the relevant antitrust authorities. The move marks another step in RTL Deutschland’s systematic pursuit of its “Best Owner” philosophy. Funke is one of the leading publishing groups in the German-speaking territories, with a clear focus on print and publishing – an environment in which “Brigitte,” “Gala,” and “Eltern” can best continue their future development. At the same time, securing jobs long-term remains a key objective of the transaction. The other journalistic brands from the Gruner + Jahr portfolio will be tied in even closer to RTL Deutschland’s content business: The brands “Geolino,” “Geolino mini,” and “Art” will in future be bundled into the Stern+ journalistic suite under the supervision of Gregor Peter Schmitz at RTL News, while the “Schöner Wohnen,” “Couch,” and “Häuser” brands will from now on be managed as part of the RTL Consumer Products division under the supervision of Thorsten Braun, with a view to further enhancing their strong growth in the furniture and furnishings sector.

"The FedEx team delivered improved profitability, while navigating a very challenging operating environment, including a compressed Peak season and severe weather events,” said Raj Subramaniam, FedEx Corp. president and chief executive officer. “I am proud of the team for executing on our transformation efforts while strengthening our value proposition and improving the customer experience. Looking ahead, we remain focused on supporting our customers amid the shifting macroeconomic environment.” Consolidated operating results improved due to cost reduction benefits from DRIVE program initiatives, higher base yield at each transportation segment, and higher volume at Federal Express. Federal Express segment operating results improved during the quarter, driven by cost reduction benefits from DRIVE, higher base yield, and increased U.S. and international export volume. These factors were partially offset by higher wage and purchased transportation rates, as well as the expiration of the U.S. Postal Service contract. FedEx Freight segment operating results decreased during the quarter due to lower fuel surcharges, reduced weight per shipment, and fewer shipments, partially offset by higher base yield. The quarter’s results include a net tax benefit of $46 million ($0.19 per diluted share), primarily from corporate entity structure changes and revisions of prior year estimates for actual tax return results.

The United States Postal Service is implementing refinements to service standards and has launched new online tools and a fact sheet to help customers prepare for the changes. These adjustments will affect First-Class Mail, Periodicals, Marketing Mail, Package Services (including Bound Printed Matter, Media Mail, and Library Mail), USPS Ground Advantage, Priority Mail, and Priority Mail Express. The enhancements are estimated to save the Postal Service at least $36 billion over the next decade through reductions in transportation, mail and package processing and real estate costs. The service standards refinement will occur in two phases to ensure effective operational implementation: the first phase will begin April 1. The second phase will start July 1. These newly enhanced service standards align with the Postal Service’s operational goals and enable the organization to realize the projected savings while also: *Preserving the current service standard day ranges for First-Class Mail and USPS Ground Advantage, thus ensuring the standard First-Class Mail delivery time will not exceed 5 days. *Enhancing service predictability and reliability. *Offering 2-3-day turnaround service within regions and specific local areas. *Allowing flexibility in regional transportation schedules, which may extend service expectations by one day for mail collected at certain Post Offices, while overall improving delivery speeds for mail and packages between regions.

The U.S. Postal Service is drawing fire for its plan to change the way it counts the days following entry of newspapers and other publications into the system on Saturdays. One harsh comment was submitted by the News/Media Alliance. “The proposed non-count of Sundays/holidays for mail entered on the proceeding Saturday (or the day before a holiday) would delay a substantial proportion of Periodicals mail,” NMA states in comments submitted to the Postal Regulatory Commission. “ In particular, some 19.1% of Origin-Entered Periodicals currently have a Saturday Start-the-Clock before a Sunday or a holiday.” Indeed, NMA adds: “Most of these Periodicals can expect actual delivery to be delayed by at least one to two more days.”

PIA has announced the selection of Paul Hudson, President, CEO and owner of Hudson Printing in Salt Lake City, Utah, as the PIA 2025 Executive of the Year. A pioneer in digital printing, workflow automation and process optimization, Paul has consistently pushed the boundaries to make print more accessible, efficient, impactful and relevant to today’s marketplace. “Paul was chosen for this honor,” says Amy Miller, Chair of PIA’s Public Relations Committee, which is responsible for selecting the Executive of the Year, “because of the way that he represents the industry at home and abroad by forging ahead with technological innovation while modeling a commitment to sustainability.” How did Paul get to this point? Well, you might say that print is in Paul’s blood. When he was a child, Paul’s father owned and ran the 100-year-old company that eventually became Hudson Printing. Growing up around the print shop, Paul spent countless hours with his father, developing a deep appreciation for the craft.

Postmaster General Louis DeJoy signed an agreement with the Elon Musk-based Department of Government Efficiency (DOGE) and the General Services Administration (GSA) last week to help it find more cost-saving efficiencies and eradicate waste. At the same time, he called for the abolishment of the Postal Regulatory Commission, which provides oversight, and indicated the U.S. Postal Service would be reducing its workforce by 10,000 workers within the next 30 days through its voluntary early retirement program. Despite DeJoy’s earlier announcement that he intends to depart the U.S Postal Service — the 250-year-old agency that was first led by Benjamin Franklin — DeJoy continues to push his 10-year “Delivering for America” turnaround plan that he first unveiled in 2021. The plan has focused on reinventing what he calls a financially unsustainable, broken USPS business model (including a $9.5 billion loss in its most recent fiscal year) and a greater focus on package delivery. At the same time, he has sought frequent postal rate hikes in combination with slower mail delivery service standards.

Thomas Rabe, Chief Executive Officer of RTL Group, says: “RTL Group once again demonstrated resilience in 2024. Despite challenging market conditions in the second half of the year, our results were in line with the guidance we provided at the beginning of 2024. More importantly, we reached turning points in our streaming services and content production business. As a result, we expect to significantly increase our operating profits in the coming years. Our streaming services continued to grow dynamically and significantly reduced their start-up losses in 2024. We are firmly on track to reach profitability by 2026. We have continued to strengthen our global content business, Fremantle. Thanks to a significant reduction of overheads and the contribution from Asacha Media Group – acquired in 2024 – Fremantle reached a record result and significantly improved its Adjusted EBITA margin. We plan to increase Fremantle’s margin to 9 per cent by 2026. Our strong results and cash flows enable us to pay an attractive dividend of €2.50 per share to our shareholders.” In 2024, RTL Deutschland’s combined audience share in the main commercial target group of viewers aged 14 to 59 decreased to 26.3 per cent (2023: 27.4 per cent). However, RTL Deutschland extended the lead over its main commercial competitor ProSiebenSat1 to 6.3 percentage points – the biggest lead in over 10 years (2023: lead of 5.8 percentage points). The flagship channel RTL was the only major commercial channel in Germany to gain audience share, with 9.6 per cent in the target group of viewers aged 14 to 59 (2023: 9.4 per cent).

At Adobe Summit – the flagship digital experience conference – Adobe unveiled a suite of product innovations that drive Customer Experience Orchestration (CXO) in the era of Artificial Intelligence (AI). CXO is the evolution of Customer Experience Management, fulfilling the promise of personalization at scale by combining the creation and development of seamless and connected customer experiences across all touchpoints and channels, with advancements in generative and agentic AI. Adobe’s innovations are powered by Adobe’s AI Platform, which unites AI agents and models across Adobe. This includes AI agents from third-party ecosystems, commercially safe Firefly models and secure third-party models, and first-party data insights—infused into Adobe applications. This comes to life in Adobe Experience Platform, which brings together customer experience data, CX language models and AI Agent orchestration. Adobe is unifying marketing and creativity through its AI platform to deliver personalized experiences at scale.

Springer Nature, one of the leading publishers of research in the world, today announced its results for the financial year 2024, demonstrating continued growth and a strong operational performance. Revenue was €1,847 million, representing, on an underlying1 basis, a 5% increase over the same period in 2023. Adjusted operating profit increased to €512 million, equating to underlying growth1 of 7%. Frank Vrancken Peeters, CEO of Springer Nature, said: “Our strong results demonstrate our ability to consistently deliver value for our communities while driving innovation in the academic publishing industry. We publish an ever-increasing amount of high-quality open access content and invest in technology and people to ensure we consistently outperform the market while growing responsibly and sustainably.” The Research segment continues to be the main driver of Springer Nature's growth. Research saw a 6% underlying3 revenue growth to €1,414 million, primarily due to the excellent performance of the OA Journals portfolio. The Education segment supported overall growth, with revenue increasing 3% on an underlying3 basis to €235 million. This was driven by a strong performance in India and South Africa. The Health segment’s revenue was €188 million, which was broadly stable on an underlying3 basis compared to the previous year.

The Association of American Publishers responded to a request for information from the White House Office of Science and Technology Policy (OSTP) on development of the Administration’s Artificial Intelligence (AI) Action Plan. AAP’s submission calls on the Administration to prioritize copyright protections, promote partnerships between American companies, embrace and encourage licensing, reject bloated fair use arguments and other sweeping exceptions that would unjustly enrich tech companies at the expense of authors and publishers, denounce the use of pirate sites in AI training, and work with Congress to prioritize transparency requirements. “The United States is an unmatched leader in both technology and intellectual property, both of which are key to global AI markets,” commented Maria A. Pallante, President and CEO, Association of American Publishers. “We thank the White House for the opportunity to inform its action plan and look forward to working with all parts of the Administration to ensure that authors, publishers, and all creative sectors are protected and positioned to partner with AI developers to achieve the extraordinary benefits of AI for the long term, in safe and lawful fashion. Among our priorities is stopping the proliferation of pirate sites that are a scourge on American IP investments and an illegal source of AI development.”

Ulta Beauty Inc. reported modest gains in comparable sales in earnings for its fiscal Q4 and full year ended Feb. 1, 2025, reflecting a year marked by cautious consumer spending. Including ecommerce, Ulta Beauty comparable sales rose 1.5% in Q4. This was down from 2.5% growth during the same quarter a year before. Despite the slowdown, Ulta reported growth across both store and digital channels. On the retailer’s March 13 earnings call, chief financial officer Paula Oyibo said ecommerce sales in Q4 grew in the mid-single-digit range. However, the company did not share specific figures.

The Postmaster General’s statements about the Postal Regulatory Commission’s role during the recent mismanagement of USPS are false. The Commission follows the law to ensure that USPS provides universal service to all Americans, including those in rural and remote locations, and also safeguards fair competition in package markets by preventing the Postal Service from abusing its monopoly position. The price cap the Postmaster General has complained about for years was established by law, not by the Commission. Once the Commission had the legal authority to change the price cap, the Commission gave USPS significantly more pricing freedom. Combined with the 2022 law passed by Congress, the Postal Service received over $100 billion in financial assistance. So far, the Delivering for America Plan (DFA) has wasted that help, losing more money for the Postal Service (a $9.5 billion loss in FY 2024), making USPS less efficient, and collapsing service, especially for rural Americans. On April 1, USPS is planning to amplify that negative impact on rural areas by deliberately slowing mail to thousands of rural communities nationwide. The Postmaster General has also tried to ignore USPS’ traditional role in mail delivery while expanding the role of the government in the competitive package market, a strategy which has failed miserably to this point. DFA’s failures have received bipartisan scorn and are documented at www.prc.gov. DFA needs transparency and accountability. The Commission has done more than its part to help USPS. In addition to pricing flexibility, the Commission, as required by law, has approved thousands of specialized contracts between USPS and customers in recent years. The Commission approved these negotiated service agreements rapidly, while working to make sure USPS does not compete unfairly with private sector shipping competitors. The Commission has done this work along with its other statutory responsibilities with fewer than 100 staff members.

“Adobe’s success over the next decade will be driven by customer-focused innovation and new offerings for creators, marketing professionals, business professionals and consumers,” said Shantanu Narayen, chair and CEO, Adobe. “Adobe is well-positioned to capitalize on the acceleration of the creative economy driven by AI and we are reaffirming our FY2025 financial targets.” “Our continued innovation and diversified go-to-market strategy drove a record Q1, with new AI-first standalone and add-on innovations exiting the quarter with over $125 million ending ARR book of business,” said Dan Durn, executive vice president and CFO, Adobe. “Our customer- focused strategy, leading product portfolio and strong cash flow position us for sustainable long-term growth and increased market share.”

The Postal Service has one of largest fleets in the world, with more than 246,000 vehicles that drive more than a billion miles every year, delivering mail to more than 169 million delivery points across the nation. Safe driving is a paramount part of our duties as we are Delivering for America. As part of a safe driving public awareness campaign, the Postal Service is reminding customers of the importance of staying vigilant when maneuvering near postal vehicles. “Postal Service employees drive our nation’s roads every day, providing a vital service, to deliver America’s mail safely. It is something we strive to do 365 days a year,” said USPS Employee Safety and Health Awareness Manager Leeann Theriault. “We encourage the public to stay alert when around postal vehicles, and together, we can protect our drivers and everyone else on the road. This will reduce risks and ensure that everyone, including our employees, make it home safe.”

From the London Book Fair, Wiley announced it will provide access to a curated collection of Earth science research materials to help enhance the training and capabilities of the European Space Agency's Earth Virtual Expert (EVE). Wiley signed an agreement with Pi School, which is leading the development of the EVE project for ESA's Φ-lab. EVE is a fine-tuned large language model designed to transform how researchers and the public access and engage with Earth Observation and Earth science research and information. The EVE project, developed by Pi School with support from Imperative Space, is creating an innovative virtual expert capable of answering queries about Earth Observation and Earth science in natural language. Pi School's mission is to empower businesses and individuals by delivering cutting-edge AI solutions tailored to real-world challenges.

Best Buy’s sales growth online outpaced growth at stores as the retail chain reported a 0.5% boost in comparable sales for its fiscal Q4 2025, which ended Feb. 1. The company credited strong demand for computing, tablets and services. Meanwhile, Best Buy U.S. online sales in Q4 climbed 2.6% year-over-year, with ecommerce accounting for 39.5% of total revenue, up from 38% last year. “In our digital business, our focus on personalization and speed resulted in app engagement and sales growth,” CEO Corie Barry said during the company’s March 4 earnings call.

Lee Enterprises, the victim of a cyberattack and system outage on February 3, says it has contained the threat and is working with security vendors to restore automation to its business processes. “Currently all products are being produced and distributed, although some limitations remain including limited depth of products due to tightened schedules,” the company says in an SEC filing. “Additionally, certain back-office functions remain delayed including billing our clients, collections, and payments to vendors.” The company expects normal processes to be restored in the coming weeks. Lee publishes over 70 news products throughout the country.

Gannett Co., Inc. announced it has prepaid approximately $57.5 million on its five-year first lien term loan facility. As a result of this prepayment, the Company has reduced its first lien debt from $850.0 million to $792.5 million during the first quarter of 2025. The debt repayment was funded with the proceeds from the sale of the Austin-American Statesmen that was completed on February 28, 2025, as well as cash on hand. "As part of our long-term strategy, debt repayment remains a high priority, and we continue to make measurable progress, while also maintaining a healthy balance sheet and a strong liquidity position," said Michael Reed, Chairman and Chief Executive Officer.

Costco Wholesale Corporation announced its operating results for the second quarter (twelve weeks) and the first 24 weeks of fiscal 2025, ended February 16, 2025. Net sales for the quarter increased 9.1 percent, to $62.53 billion, from $57.33 billion last year. Net sales for the first 24 weeks increased 8.3 percent, to $123.52 billion, from $114.05 billion last year. Net income for the quarter was $1,788 million, $4.02 per diluted share, compared to $1,743 million, $3.92 per diluted share, last year. For the four-week reporting month of February, ended March 2, 2025, the Company reported net sales of $19.81 billion, an increase of 8.8 percent from $18.21 billion last year. Net sales for the first 26 weeks were $133.36 billion, an increase of 8.3 percent from $123.15 billion last year.

*Third quarter reported revenue of $405 million vs. $461 million due to foregone revenue from divested businesses *Third quarter Operating Income $52 million vs. ($46 million) *Year-to-date Operating Income of $145 million vs. ($17 million) “We continue to deliver disciplined growth and material margin expansion as we capitalize on the global demand for scientific research and responsible AI model development,” said Matthew Kissner, Wiley President and CEO. “Our recurring revenue Research business has not only proven to be resilient across economic cycles but poised for continued expansion; our authoritative content and data-driven insights are increasingly coveted by corporations for their research and development initiatives, including AI enablement; and our strong execution and cost re-engineering efforts continue to deliver tangible results, with significant margin and cash flow improvement this year and raised margin expectations for Fiscal 2026.”

It’s been a busy 48 hours as President Trump has issued, and in some cases temporarily delayed sweeping tariffs which had spurred retaliation from the affected countries. On Wednesday, March 5, Trump announced he would grant a one-month delay for any tariffs on imported vehicles from Canada and Mexico that comply with the terms of the United States-Mexico-Canada Agreement (USMCA), a trade agreement Trump signed with the other two countries in July 2020 during his first presidential term. Trump followed that decision up with executive orders on Thursday, March 6 that exempt all Canadian and Mexican imports which fall under the USMCA from the 25% tariff until Wednesday, April 2. According to a statement from the White House to CNBC, roughly 50% of Mexican imports and 38% of Canadian imports fall under USMCA.

Hearst Newspapers announced the launch of a multi-market advertising initiative that showcases the power of its journalism and its advances in digital storytelling. The campaign, which begins with two of Hearst’s leading news brands — the San Francisco Chronicle and Houston Chronicle — will expand to additional markets in the coming months. The effort was created in partnership with PMG, which was recently named Hearst’s creative and media agency of record. Titled “There’s More with the Chronicle,” the initiative highlights the wide-ranging coverage and digital innovations that connect readers to the issues that shape their communities and to the wider world. The campaign is part of a previously announced multimillion-dollar, multi-platform investment in brand building across Hearst’s businesses and is a key component of the company’s broader investment in its newspaper business, alongside its recent announcement to acquire the Austin American-Statesman. “We are committed to high-quality journalism and growing readership in the digital era,” said Jeff Johnson, president, Hearst Newspapers.

“As we close out the first year of the Bold New Chapter strategy, investments in the customer experience enabled us to achieve our highest comparable sales of the year, our best performance in 11 quarters,” said Tony Spring, chairman and chief executive officer of Macy’s, Inc. “At Macy’s, our First 50 locations delivered four quarters of increased sales, while our luxury nameplates, Bloomingdale’s and Bluemercury, achieved accelerated annual sales growth. As we enter the second year of our strategy, we plan to scale initiatives that are resonating with our customers to drive long-term profitable growth and further unlock shareholder value.” Macy’s, Inc. net sales decreased 4.3% to $7.8 billion, with comparable sales down 1.1% on an owned basis and up 0.2% on an owned-plus-licensed-plus-marketplace basis. Comparable owned-plus-licensed-plus-marketplace sales growth at Macy’s First 50 locations, Macy’s digital channel, Bloomingdale’s, and Bluemercury was offset primarily by weakness in Macy’s non-First 50 and non-go-forward locations. Macy’s, Inc. go-forward business2 comparable sales were down 0.7% on an owned basis and up 0.6% on an owned-plus-licensed-plus-marketplace basis.

Walkouts were averted at six Gannett titles in New Jersey and New York when employees and the firm agreed on “ life-changing” increases in pay and job protections. A vote on ratification was scheduled for Thursday. The publications include the Asbury Park Press, Courier News, Home News Tribune, the Journal News, Poughkeepsie Journal and Times Herald-Record. The Jersey staffers were represented by the APP-MCJ Guild and the New York State employees by the Hudson Valley NewsGuild.

President Donald Trump’s 25% tariffs on goods from Mexico and Canada, as well as a 10% increase to tariffs on goods from China, went into effect on March 4—and although the tariffs had been delayed once before, the publishing and printing industries are still left with more questions than answers as they look for ways to navigate the new levies. While American publishers will now face higher costs, printers in the United States hope that the tariffs will lead to more business. While the amount of printing done in Canada and Mexico is far less than in China, the new tariffs on those two nations present other challenges. For one thing, the U.S. imported $1.82 billion of uncoated paper, some of which is used in books, in 2023, according to government statistics, with 67% of that paper coming from Canada.

Total revenues across all categories year-to-date were up 6.5%, reaching $14.2 billion. Revenues for the month of December 2024 were down 4.3% as compared to December 2023, coming in at $904.6 million. Trade revenues were up 6.0%, at $9.5 billion on a year-to-date basis. Hardback revenues were up 6.8%, coming in at $3.5 billion; Paperbacks were up 3.0%, with $3.2 billion in revenue; Mass Market was down 13.3% to $122.9 million; and Special Bindings were up 4.3%, with $231.7 million in revenue. eBook revenues were up 1.6% as compared to 2023 for a total of $1.0 billion. The Digital Audio format was up 23.8%, coming in at $1.1 billion in revenue. Physical Audio was down 37.4% coming in at $8.7 million.

Urban Outfitters’ net sales increased 10.1% to a company-record $1.6 billion for its fiscal Q4, which ended on Jan. 31, delivering a new milestone for the company’s rental business Nuuly. The record quarter was part of a record year for the Philadelphia-based retailer. It saw total company net sales increase 7.7% to $5.6 billion. During its earnings call, Frank Conforti, the co-president and chief operating officer at Urban Outfitters, credited success to the Anthropologie, Free People, FP Movement and Nuuly brands. Of those brands, Nuuly also distinguished itself by becoming profitable for the retailer’s full fiscal year. “The strong revenue growth in the fourth quarter resulted in expense rate leverage in almost every expense line item, which helped deliver a record fourth quarter operating profit and another Nuuly first, its first full year of profitability,” he stated.

For the fiscal year ended February 1, 2025, net earnings were $294 million and EPS was $1.74, with EBIT of $495 million, or 3.4 percent of sales. Excluding charges related primarily to a supply chain asset impairment in the second quarter, accelerated technology depreciation in the third and fourth quarters, and privatization fees in the fourth quarter, adjusted EBIT was $593 million, or 4.1 percent of sales, and adjusted EPS was $2.17 for fiscal 2024.1 For the 13-week fourth quarter in fiscal 2024, total Company net sales decreased 2.1 percent versus the 14-week period in fiscal 2023, or increased 2.5 percent excluding approximately $190 million related to the 53rd week in fiscal 2023. Total Company gross merchandise value ("GMV") decreased 0.2 percent. Nordstrom banner net sales decreased 3.7 percent and GMV decreased 1.0 percent compared with the fourth quarter of 2023. Net sales for Nordstrom Rack increased 1.2 percent.2 "Customers responded positively to the strength of our offering across both banners in the fourth quarter," said Erik Nordstrom, chief executive officer of Nordstrom, Inc. "We maintained the momentum we built throughout the year, which resulted in full-year sales and profitability coming in at the high end of our expectations."

U.S. ecommerce sales and penetration of total sales reached new peaks in 2024, according to Digital Commerce 360 analysis of U.S. Department of Commerce data. Ecommerce penetration — or the percentage of total U.S. retail sales that are completed online — has grown every year but one since the Commerce Department began tracking this data in 2000. In 2022, ecommerce penetration was 20.7%, a slight dip compared to 20.8% in 2021. As such, ecommerce penetration reached a record 22.7% in 2024. Ecommerce has accounted for at least a fifth of U.S. retail sales every year since 2020.

Most local newsrooms are cutting back their print schedules, or even eliminating them. Kentucky’s Owensboro Times is going in the opposite direction. The hyper-local digital news source is launching a quarterly print product that will hit mailboxes in Daviess County for free. The decision is based, in part, on a local regulatory issue. In an unsigned opinion column, the paper states that “outdated language in Kentucky law dictates that only print newspapers qualify as the official ‘newspaper of record.’ This designation is critical because it determines which publications can carry public notices, legal announcements, and other official records.”

Dockworkers on the East and Gulf coasts overwhelmingly approved a six-year contract Tuesday, averting the threat of a strike that could have crippled the economy. The yes vote was expected after the leadership of the International Longshoremen’s Association union reached a tentative contract agreement in January with the U.S. Maritime Alliance of ports and shipping companies. The alliance approved the contract last month, and on Tuesday rank-and-file members voted for it with nearly 99% in favor, the union said in a statement. The contract calls for a 62% pay hike over six years that would lift hourly wages at the top of the union pay scale from $39 an hour to $63 an hour. ILA President Harold Daggett, who served as the union’s chief negotiator, was quoted in the statement as saying the agreement is “the ‘gold standard’ for dockworker unions globally.”

The United States Postal Service announced refined service standards for certain market-dominant services. This includes service standard adjustments for First-Class Mail, Periodicals, Marketing Mail, and Package Services (Bound Printed Matter, Media Mail, and Library Mail). The changes will maintain service at existing levels for most volume and upgrade standards for more market-dominant volume than is downgraded. The changes will enhance service reliability nationwide while maintaining the existing five-day service standard day range for First-Class Mail, whereas the day ranges for end-to-end Marketing Mail, Periodicals and Package Services will be shortened. Similar changes will be made with respect to the Postal Service’s competitive products. As a result of these refined service standards, the Postal Service projects at least $36 billion in savings over 10 years from transportation, mail processing, and real estate cost reductions. As part of the ongoing “Delivering for America” plan, the Postal Service has to date lowered $1.8 billion in annual transportation costs by eliminating redundant networks and rationalizing the use of air and surface options, and reduced 45 million workhours, or $2.3 billion annually, by improving plant productivity, and eliminating unnecessary facilities. In addition, the Postal Service has increased revenue by $3.5 billion annually while transitioning its product offerings in the face of significant declines in mail volume.

As is typical in Q4, U.S. ecommerce sales — and total retail sales, for that matter — hit a quarterly high, according to Digital Commerce 360 analysis of U.S. Department of Commerce data. U.S. ecommerce sales grew at more than 6x the rate of total sales. As such, Q4 2024 marks the seventh consecutive quarter that U.S. ecommerce sales growth was at least double the rate of total sales growth. It also marks the 10th consecutive quarter that ecommerce growth outpaces total growth. Prior to that, Q2 2021 through Q2 2022 saw U.S. year-over-year total sales growth outpace ecommerce sales when COVID-19 pandemic restrictions loosened.

Walmart Inc. announces fourth-quarter results with strong growth in revenue and operating income. Globally, eCommerce grew 16% with penetration up across all segments. Walmart U.S. comp sales up 4.6%2 with positive growth in general merchandise. Looking ahead, the Company issues guidance for FY26 with net sales expected to grow 3% to 4% and adjusted operating income in constant currency (“cc”)1 to grow 3.5% to 5.5%, including a headwind of 150 basis points from the acquisition of VIZIO Holding Corp. (“VIZIO”) and lapping leap year. "Our team finished the year with another quarter of strong results. We have momentum driven by our low prices, a growing assortment, and an eCommerce business driven by faster delivery times. We’re gaining market share, our top line is healthy, and we’re in great shape with inventory. We’ll stay focused on growth, improving operating margins, and strengthening ROI as we invest to serve our customers and members even better.” Doug McMillon President and CEO, Walmart

"In 2024, we made continued strong progress executing on our strategy to advance our digital transformation, resulting in total digital revenues exceeding 45% of total revenues in the fourth quarter, and amounting to over $1.1 billion for the year. Equally important, we expanded our audience, improved engagement, and grew digital revenues through diversified channels. Total 2024 digital revenues increased by over 5% compared to 2023," said Michael Reed, Gannett Chairman and Chief Executive Officer. "The successful execution of our strategy has driven continued improvement across our key financial metrics. In 2024, we delivered full-year growth in both Adjusted EBITDA and free cash flow, while driving improvement to our bottom line. We also remained focused on enhancing our capital structure in 2024, which was evidenced by repaying $73.5 million of debt in addition to repayments made in connection with the completion of our comprehensive refinancing that extended our debt maturities and significantly reduced potential future dilution from our convertible notes."

The Postal Service provided a pointed response to the Postal Regulatory Commission’s (PRC) recently published Advisory Opinion on the organization’s proposed service standard changes: PRC Docket No. N2024-1, captioned “Operational and Service Standards to Meet Statutory Requirements for Reliable, Efficient High-Quality Service and Financial Sustainability Through an Integrated Mail and Package Network”. An excerpt of the response cover letter from Postmaster General Louis DeJoy to PRC Chairman, Michael Kubayanda follows: “I must say that I was confounded by the Commission’s dismissal of cost savings of nearly $4 billion a year as “meager”, while characterizing service standard changes that are carefully designed and modest in impact within the current service standard day ranges as a “severe degradation” in service that must be avoided at all costs.

The United States Postal Service is today announcing that Louis DeJoy, America’s 75th Postmaster General, has notified the Postal Service Board of Governors that it is time for them to begin the process of identifying his successor. The Governors of the Postal Service, working with key stakeholders, will now begin the process of identifying an appropriate candidate to serve as the next Postmaster General and Chief Executive Officer of the United States Postal Service. Postmaster General’s letter to the Board of Governors: “Louis DeJoy has steadfastly served the nation and the Postal Service over the past five years,” said Amber McReynolds, chairwoman of the Board of Governors. “The Governors greatly appreciate his enduring leadership and his tireless efforts to modernize the Postal Service and reverse decades of neglect.” She added that “Louis is a fighter, and he has fought hard for the women and men of the Postal Service and to ensure that the American people have reliable and affordable service for years to come.” DeJoy stated, “While there remains much critical work to be done to ensure that the Postal Service can be financially viable as we continue to serve the nation in our essential public service mission, I have decided it is time to start the process of identifying my successor and of preparing the Postal Service for this change. The major initiatives we are currently endeavoring are multi-year programs and it is important to have leadership in place whose tenure will span this future period. After four and half years leading one of America’s greatest public institutions through dramatic change during unusual times, it is time for me to start thinking about the next phase of my life, while also ensuring that the Postal Service is fully prepared for the future."

The annual circulation figures for 26 brands within Bauer Media Group’s UK Publishing business shows that they remain a valued source of content for readers across the country with significant print sales. At the same time, many of our brands continue to expand and diversify their digital presence. Commenting on the results, Helen Morris, Co-CEO, UK Publishing said: “These results once again demonstrate the enduring impact and longevity of our brands as millions of people across the country continue to invest their time and money in our printed products and digital offerings. The success of our brands is only made possible by the relentless commitment of all our teams to develop highly engaging and creative content across a variety of formats. We’re extremely grateful to everyone across Bauer for their invaluable contributions.”

Lee Enterprises admits that its business has been affected by a cyber attack. “The incident impacted the Company’s operations, including distribution of products, billing, collections, and vendor payments,” the firm says in an SEC filing. It adds, “Distribution of print publications across our portfolio of products experienced delays, and online operations were partially limited.”

A group of independent publishers has formally incorporated as the Publishers Cooperative, a new organization aimed at leveraging collective buying power and sharing resources. The cooperative, which received its articles of incorporation this year, is currently seeking seven additional mid-sized publishers to join its eight founding members: AdventureKEEN, C&T Publishing, Gibbs-Smith, Mango Publishing, Mixed Media Resources, Mountaineers Books, Schiffer Publishing, and Ulysses Press. Membership will require publishers to meet certain scale requirements, to maintain the group's collective buying power. Amy Barrett-Daffin, publisher at C&T Publishing, said that the organization began informally in 2021, when several publishers started meeting monthly to discuss industry challenges. The founding members—Brad Farmer of Gibbs-Smith, Pete Schiffer of Schiffer Publishing, Tom Helleberg of Mountaineers Books, and Barrett-Daffin—“would try to meet monthly, and we were just sort of talking through what's working, what's not working," she said, adding that the organization's mission is "to increase profitability, to raise all boats for the co-op."

Savvas Learning Company, a next-generation K-12 learning solutions leader, announced exciting summer learning solutions to support school districts in accelerating student learning in math and literacy. Savvas Summer Impact solutions offer ready-to-use instructional materials, combined with adaptive assessments and personalized learning programs, that provide summer-specific, standards-aligned curriculum to help students master grade-level instructional priorities in math (for grade K–Algebra 1) and literacy/ELA (for grades K–8). “Whether the goals of their summer learning programs include bringing students up to grade level, reenergizing learning, or preventing the summer slide, school districts are looking for high-quality instructional materials that are easy to use and maximize valuable teaching time,” said Bethlam Forsa, CEO of Savvas Learning Company.

The Role of Print in Learning and Education goes beyond just providing information—it enhances cognitive retention, balances screen time, and fosters a focused academic environment. Unlike digital devices that contribute to digital exhaustion, print offers a tactile and immersive experience, helping students better process and retain information. By minimizing distractions and providing a well-rounded approach to education, print remains an essential tool for effective learning.