Kohl’s Corporation announced that it has entered into a settlement agreement with Macellum Advisors GP, LLC, Ancora Holdings, Inc., Legion Partners Asset Management, LLC, and 4010 Capital, LLC, which collectively own 9.3% of Kohl’s outstanding common stock, including options. As part of the agreement, two new independent directors nominated by the Investor Group, Margaret Jenkins and Thomas Kingsbury, will join the Kohl’s Board of Directors, as of the close of the 2021 Annual Meeting of Shareholders. An additional independent director identified by Kohl's, and agreed to by the Investor Group, Christine Day, will join the Board at the same time.

Kohl’s is proud to receive the 2021 ENERGY STAR Partner of the Year Sustained Excellence Award from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy. This year marks the 10th consecutive year that the EPA has recognized Kohl’s with the Sustained Excellence award, the highest honor bestowed by the ENERGY STAR program and selection from a network of thousands of ENERGY STAR partners. “Kohl’s has been a longtime partner of the EPA on our journey to continually implement the best practices available in energy efficiency across our store network and facilities to reduce our carbon footprint and do our part to fight climate change,” said Steve Thomas, Kohl’s chief risk and compliance officer. “This recognition is a tangible way to show our associates, our customers, our communities and our business partners the work that our teams do ‘behind-the-scenes’ to operate our business efficiently and conscientiously.”

REI Co-op released its 2020 financials and annual impact report, highlighting strong financial performance and its values-based approach to leading through a global crisis—and beyond. Despite unforeseen challenges in 2020, the co-op made bold investments in the future of its business: selling its headquarters buildings to imagine an entirely new future of office work, taking the co-op carbon neutral, investing in retail pay, making a commitment to racial equity that will impact every area of the company, and rolling out innovative new offerings like virtual outfitting and Curbside Pickup within a matter of weeks. “We entered 2020 with incredible momentum, after more than a decade of record growth. Then, the entire world came to a halt. We regrounded ourselves in our values, making choices that at times came at great cost to our business. But we took the long view and continued to put our people first, quickly pivoting to find new ways of serving our customers and community,” said REI President and CEO Eric Artz. “That approach turned out to be the right thing for our people and for our business, and allowed us to enter 2021 not just in a position of financial strength, but proud of who we were when the times were least certain.” The co-op reported no profits in 2020 but ended the year in a strong cash position and debt-free, after investing millions in its impact work: combatting the climate crisis, fighting for racial equity and supporting its network of nonprofit partners. Now REI is launching the next chapter of that work, inviting its broader co-op community to take action.

Unit sales of print books rose a remarkable 29.2% in the first quarter of 2021 over the same period in 2020 at outlets that report to NPD BookScan. Though some of that gain was due to the slump in sales that occurred in mid-March last year, most of the increase was due to the surge in book buying that began last spring and carried over into 2021. All six major categories tracked by BookScan had double-digit increases, and all four print formats posted gains. Units rose 24.6% in adult nonfiction, the industry’s largest category. Sales in the home and gardening subcategory, which began to take off late last April, remained strong into the first quarter of 2021, up 54.1% in the period. Sales of general nonfiction increased 44.7%, while sales in the self-help and biography/autobiography/memoir areas rose 38.8% and 35.7%, respectively. The long-awaited revival in travel books has not arrived yet, with unit sales down nearly 25%. Print sales of adult fiction increased 34.7% in the quarter. Graphic novels led the way, with sales soaring almost 146%. Big gains were also seen in fantasy (up 48.4%), science fiction (40.6%), and romance (29.9%).

Urban Outfitters, Inc. announced a personnel change at the Anthropologie Group. Hillary Super has stepped down as Global Chief Executive Officer. Her last day was Friday, April 9th. We thank Hillary for her service over the past four years and wish her well in the future. Beginning today, Tricia D. Smith, has joined the Anthropologie team as the new Global Chief Executive Officer. Ms. Smith brings with her impressive retail experience earned over 26 years spent within the Nordstrom merchant organization where she was Executive Vice President, General Merchandise Manager of Women’s, Young Contemporary, Designer, and Specialized Apparel. In 2019, Tricia left Nordstrom to become Executive Vice President, Chief Merchandising Officer, of Tilly’s. Separately, URBN is pleased to report that total Retail segment comparable net sales thus far during the first quarter of Fiscal 2022 have increased by high single-digits versus Fiscal 2020. In North America, better sales were driven by double-digit ‘comp’ results at both the Free People and Urban Outfitters brands while Anthropologie sales have improved substantially but remain slightly negative.

Costco Wholesale Corporation reported net sales of $18.21 billion for the retail month of March, the five weeks ended April 4, 2021, an increase of 17.6 percent from $15.49 billion last year. For the thirty-one weeks ended April 4, 2021, the Company reported net sales of $111.37 billion, an increase of 15.7 percent from $96.25 billion during the similar period last year.

Kohl’s announced the opening of its sixth e-commerce fulfillment center in Etna, Ohio (10201 Schuster Way) to support the company’s continued online demand and digital sales acceleration. The 1.2 million square-foot facility is Kohl’s largest, most efficient fulfillment center and will be dedicated to processing, filling and shipping Kohls.com orders. The next-generation facility leverages automation and technology to make processing and delivering Kohls.com orders faster and more efficient. Construction of the facility began in 2019, was temporarily paused in 2020 due to the pandemic, and resumed in 2021. “Over the past five years, Kohl’s digital sales have grown more than 100 percent. Our investment in a highly efficient sixth e-commerce fulfillment center will meaningfully grow our peak fulfillment capacity,” said Paul Gaffney, Kohl’s senior executive vice president, chief technology officer and head of supply chain. “The new facility makes Kohl's more efficient at fulfilling orders via automation and modern technology, puts Kohl’s products geographically closer to our customers, and ultimately gets our great products to our customers faster.”

Last week Penguin Random House reported that it had a 23.3% increase in profits in 2020 over 2019 on a 4.6% gain in revenue, capping a remarkable year for America’s five biggest trade publishers that report financial results. Despite the disruptions caused by the pandemic, all five had annual increases in both earnings and sales. Higher sales of e-books and digital audiobooks and solid gains of backlist titles helped drive the revenue and profit gains. Online sales also rose in the year, offsetting soft sales through bookstores due to pandemic-induced lockdowns. According to PRH parent company Bertelsmann, PRH US had a particularly good year and drove the overall gains for the publisher. PRH US accounted for just over 58% of PRH’s total revenue, or roughly $2.59 billion. In 2019, the U.S. represented 56% of PRH revenue (about $2.2 billion).

In an increasingly digital world, Keep Me Posted recognizes that many of us still prefer to receive bills, medical records and other important, confidential communications in paper format. Many consumers report difficulties in using new payment technologies and many require paper communications. This can include older adults, disabled people, low-income earners (who can’t afford costly broadband internet) and those with no home internet (often located in rural areas) or computers. Even for those who prefer digital communications, storing or accessing sensitive documents online could lead to disaster in the event of data breaches and identity theft which are becoming more common every year. Yet each day, more companies are forcing us to go paperless and even charging us inflated fees for online access to critical personal and financial documents. One study also revealed that new utility customers paid significantly later when they received bill invoices by email. If this happens, you might be charged late fees and harassment from debt collectors – and even your credit rating could suffer. In a recent survey, 90% of people said they’d like to have the right to choose how they receive communications (printed or electronic). It’s time to make our voices heard.

Online fraud did not take a break for the pandemic. Just the opposite, crimes and complaints are exploding across all categories measured by the US Federal Trade Commission (FTC). The FTC just released its Consumer Sentinel Network Data Book 2020, a comprehensive catalog of consumer reports about fraud, identity theft, online exploits and scams, along with other consumer protection topics. It provides nearly 100 pages of data and analysis of consumer abuses registered directly with the FTC and across its network of federal, state and local partners in consumer advocacy, protection and law enforcement. The FTC data show that identity theft more than doubled from 2019 to 2020, representing nearly one-third of all types of complaints, with a record high 1.4 million and growing. Billions of dollars were lost, with seniors faring far greater financial harms on a per case basis. Incidents in subcategories like fraudulent use of identities for government benefits rose a stratospheric 2,920% year over year. And criminals are increasingly exploiting digital communications via text, email, social media, websites and apps to hunt and harm victims. more at source: https://keepmepostedna.org/1387615-more-reasons-we-need-paper-options-identity-theft-is-exploding/

The modern media landscape has not been kind to many industry magazines, and many are no longer around at least in print form including Surfer, Surfing, Transworld Skateboarding, Transworld Surf, and Powder. But the Surfer’s Journal has defied all those negative trends and currently has the most subscribers it has ever had. The business model started by owners Debbee and Steve Pezman 30-years ago has proven to be ahead of its time. An emphasis on editorial quality allows it to charge more for subscriptions and rely more on its readers for revenue while working with a small number of high quality sponsors that sign on for a long-term commitment.

The Association of American Publishers (AAP) today released its StatShot report for January 2021 reflecting reported revenue for all tracked categories, including Trade (Consumer Books), K-12 Instructional Materials, Higher Education Course Materials, Professional Publishing, and University Presses. Total revenues across all categories for January 2021 were up 10.3% as compared to January 2020, coming in at $1.2 billion. Trade (Consumer Books) sales were up 21.3% in January, coming in at $689.5 million. In terms of physical paper format revenues during the month of January, in the Trade (Consumer Books) category, Hardback revenues were up 25.5%, coming in at $244.2 million; Paperbacks were up 17.9%, with $227.5 million in revenue; Mass Market was up 39.9% to $19.5 million; and Board Books were down 3.4%, with $17.2 million in revenue.

Torstar Corporation announced it has entered into a long-term partnership with Cineplex whereby Torstar will acquire publishing and exclusive theatre distribution rights of Cineplex Magazine, Canada’s leading entertainment publication. A mainstay of both the Canadian movie and publishing scenes for more than 20 years, Cineplex Magazine delivers exclusive interviews with A-list stars, the inside scoop on coming movies, and compelling photos from current films, movie sets and red-carpet events. Torstar will continue both print and digital publications of the magazine under the brand Star Cineplex. The two companies will work together to deliver exclusive content to movie fans and entertainment lovers across Canada.

WBA had fiscal 2021 second quarter sales from continuing operations of $32.8 billion, an increase of 4.6 percent from the year-ago quarter, and an increase of 3.5 percent on a constant currency basis1, reflecting strong International segment growth, aided by the company's joint venture in Germany, and the United States segment. Operating income from continuing operations was $832 million in the second quarter, compared with $1.1 billion in the same quarter a year ago. Adjusted operating income from continuing operations was $1.2 billion, a decrease of 22.5 percent on a reported currency basis and a decrease of 22.9 percent on a constant currency basis. Total net earnings attributable to WBA, including discontinued operations, increased 8.4 percent compared with the same quarter a year ago to $1.0 billion, reflecting a gain from the sale of a portion of the company's equity method investment in Option Care Health and a lower effective tax rate driven by discrete items, partly offset by lower operating income. Net earnings from continuing operations in the second quarter increased 6.3 percent compared with the same quarter a year ago to $922 million. Adjusted net earnings from continuing operations decreased 12.1 percent to $1.1 billion, down 12.8 percent on a constant currency basis, compared with the same quarter a year ago.

Bertelsmann’s Group revenues declined moderately last year by 4.1 percent to €17.3 billion (previous year: €18.0 billion). The organic decline in revenues amounted to 1.7 percent. The advertising-financed businesses and print businesses in particular recorded corona-related revenue declines in the first half of the year. In the second half of the year, almost all divisions were back in the black, especially in the final quarter. The proportion of digital businesses was further expanded, and stood at 53 percent. Operating EBITDA reached a new record level of €3.1 billion (previous year: €2.9 billion). Thanks to a strong operating performance, especially from the Penguin Random House publishing group and the services subsidiary Arvato, as well as capital gains from real estate sales, the operating result rose above the €3 billion mark for the first time. Group profit increased by 34 percent to €1.5 billion (previous year: €1.1 billion) – its highest level since 2006, and above the billion-euro mark for the sixth consecutive year.

Learning technology company Houghton Mifflin Harcourt announced that it has entered into a definitive agreement to divest HMH Books & Media, its consumer publishing business, to HarperCollins Publishers, a division of News Corp for a cash purchase price of $349 million. The divestiture enables HMH to focus singularly on K–12 education and accelerate growth momentum in digital sales, annual recurring revenue and free cash flow while paying down a significant portion of its debt.

The Postal Regulatory Commission issued its 2020 Annual Compliance Determination assessing the pricing and service performance of the Postal Service in fiscal year 2020 (39 U.S.C. Section 3653). The Commission is required to issue its ACD 90 days after the filing of the Postal Service’s Annual Compliance Report (ACR). Key issues identified in the ACD include: *Ten Market Dominant products did not cover their costs in FY 2020, and two of the five Market Dominant classes (Periodicals and Package Services) were also non-compensatory. *Operational and financial problems with flat-shaped products persisted, as these products had a negative contribution of more than $1 billion, and despite previous Commission directives, the Postal Service does not have a satisfactory plan to correct this. *Due to a number of internal and external factors, 17 of 22 Market Dominant products failed to meet their service standards, the worst service performance results since the Postal Accountability and Enhancement Act of 2006 mandated the establishment of service standards and tracking of performance against those standards. more detail at: https://www.prc.gov/sites/default/files/pr/ACD%202020_FINAL.pdf

The United States Postal Service filed notice with the Postal Regulatory Commission (PRC) today seeking to transfer Bound Printed Matter (BPM) Parcels to the Competitive Product list, and simplifying the delivery time for Priority Mail Express (PME). The changes to PME will take effect no earlier than May 23, 2021. The BPM Parcel change will take effect on a date yet to be determined, and is subject to approval by the PRC. Currently, PME has three guaranteed delivery time windows within the 1 – 2 business day service standards: 10:30 a.m. (in select locations, for an extra fee), noon, or 3 p.m. The new single guaranteed delivery time will be 6 p.m. on the committed delivery day, regardless of package origin and destination. The price of using PME as a shipping option will not change. The current price for PME flat rate envelope starts at $26.35. Additional pricing information can be found on our website. BPM parcels contain advertising, promotional, directory or editorial material such as catalogs, books and other printed material, and can weigh up to 15 pounds. The contents must be securely bound by permanent fastening such as staples, spiral binding, glue, or stitching. The Postal Service has requested that the PRC change the classification of BPM parcels from a Market Dominant product to a Competitive product.

News Corp announced that it has entered into an agreement to acquire the Books & Media segment of Houghton Mifflin Harcourt (HMH Books & Media). The business will be operated by HarperCollins Publishers, a News Corp subsidiary. HMH Books & Media is home to one of the most extensive and successful backlists in the publishing industry, with a history of strong profitability. Backlists have proven to be a sustainable and growing source of revenues, high margins and cash flow for publishers, particularly evergreen properties with broad, enduring and global appeal. In calendar year 2020, over 60% of HMH Books & Media revenues were generated by its formidable backlist. Among the most popular of the more than 7000 titles in the HMH Books & Media backlist are: The Lord of the Rings trilogy and other titles by J.R.R. Tolkien; 1984 and Animal Farm by George Orwell; and All the King’s Men by Robert Penn Warren, among many others. HarperCollins currently has rights to J.R.R. Tolkien’s works in the British Commonwealth.

Lifestyle magazines Departures and Centurion, which went to high-income holders of American Express platinum and centurion cards, are the latest casualty in the print world as Meredith laid off most of the staff and halted publication of the seven-times-a-year print titles. Said an AmEx spokesperson, “We regularly evolve our premium card offerings and have made the decision to transition the Departures and Centurion US magazine benefits to a new digital-first editorial platform.” Departures’ May/June, Spring Home + Design issue and the quarterly Spring/Summer Centurion Magazine will be the final print issues in their current form published by Meredith Corporation.

Aligned to Gap Inc.’s Power Plan 2023, the company is focused on growing its purpose-led, billion-dollar lifestyle brands by leveraging the power of its portfolio and the power of its platform. With this, Gap Inc. has entered into an agreement to sell Janie and Jack, a leader in premium children’s fashion, to Go Global Retail, an investment platform in the fashion and consumer brand sector. Go Global Retail intends to acquire the entire Janie and Jack business, including the e-commerce platform, all store leases, and assets. Commenting on the transactions, Gap Inc. Head of Strategy, Sally Gilligan, said, “As part of Gap Inc.’s Power Plan 2023, and exemplified by this transaction, we are prioritizing strategic focus and resources behind the growth and potential of our billion-dollar brands in Old Navy, Gap, Banana Republic and Athleta.”

A fast-advancing Florida privacy bill that would give consumers the right to opt out of targeted advertising is drawing opposition from the ad industry. The Consumer Data Privacy bill (HB 969 and SB 1734), first unveiled in February, would broadly require companies to notify consumers about data collection, and allow consumers to opt out of the sale of their personal data, as well as its processing for purposes of targeted ads. The bill defines targeted advertising as ads based on people's predicted interests, as determined by data gathered from people's activities over time and across businesses, websites or other online applications.

To seek important public input, the Commission requires the Postal Service to hold at least one pre-filing conference and make a good faith effort to address the concerns of interested persons. The Postal Service must give at least ten day’s advance notice before the first scheduled pre-filing conference. *The Commission will publish notice of the pre-filing conference in the Federal Register and appoint a Commission employee (Public Representative) to represent the interests of the general public. *Following the conference, the Postal Service must file the formal request for an advisory opinion with the Commission at least 90 days before implementing any of the proposed changes. This formal request must certify that the Postal Service has made good faith efforts to address the concerns raised at the pre-filing conference and meet other content requirements. *After the Postal Service files its request for an advisory opinion with the Commission, the Commission will set forth a procedural schedule and provide further information in a notice and order that will be published in the Federal Register. *The Commission is required by law to consider the Postal Service’s request for an advisory opinion. Before issuing its advisory opinion, the Commission must provide an opportunity for a formal, on-the-record hearing, with the Commissioners sitting en banc. Due to the COVID-19 pandemic, the Commission is presently operating remotely and any hearing held in the near term would be virtual. *By law, the Commission’s final opinion is advisory in nature. The law does not give the Commission authority to veto service changes. As a result, the Postal Service is not required to implement or take any further action with regard to the Commission’s opinion. *Interested persons who do not want to formally participate in the proceedings may file comments with the Commission sharing their views.

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

“Recognizing that issues in certain facilities across the country continue to hamper service performance, we have come together to form a National Joint Task Force on Service Performance to identify and craft solutions to improve service at specific locations within the network. Members of the Joint Task Force will work together on making necessary changes to strengthen service reliability, share best practices and stay vigilant to any emerging issues. The National Task Force will also ensure resources are allocated, lines of communication are open and concerns that are not resolved locally are escalated quickly. Maintaining strong service performance is a process, not a destination; through weather, natural disasters and a holiday season in the midst of a pandemic. Mail never stops flowing through our system. If bottlenecks occur it can have a cascading impact on the network. Addressing issues early can make all the difference.” The National Task Force held their first meeting on March 22.

“I’m exceedingly proud of our FedEx team members, who are moving the world forward through the delivery of COVID-19 vaccines — the most important work in the history of FedEx,” said Frederick W. Smith, FedEx Corp. chairman and chief executive officer. “As reflected in this quarter’s results, continued execution of our strategies is producing strong earnings growth and margin improvement across our company. We expect demand for our unmatched e-commerce and international express solutions to remain very high for the foreseeable future.” Operating results increased primarily due to strong volume growth in U.S. domestic residential package and FedEx International Priority services and pricing initiatives across all transportation segments. These factors were partially offset by costs to support strong demand and expand services, variable compensation expense, higher labor rates, and one fewer operating weekday.

The United States Postal Service announced strong improvements in mail delivery service performance across all categories and regions as its third-party- operated air network and mail and package processing and delivery operations continued to stabilize from a historic peak holiday season and severe February storms throughout the country. For the week of March 6 through March 12, 2021, overall service performance recovered to pre-holiday levels with First-Class Mail reaching 83.69 percent of the Post Service’s national performance standard of one-to-three-day delivery. Mailing of Marketing Materials (90.84 percent) and Periodicals (77.64 percent) rebounded to levels of service performance on par with Postal Service deliveries before last year’s record-breaking peak holiday season, from mid-November through mid-January.

The following is a statement from Maria A. Pallante, President and CEO, Association of American Publishers: “The American Booksellers Association newly released whitepaper, American Monopoly: Amazon’s Anti-Competitive Behavior is in Violation of Antitrust Laws, provides a clear outline of the longstanding, anti-competitive behavior that has enabled Amazon to gain a dominant position in the publishing industry. As AAP noted in comments filed with the FTC in 2019, the fact is that no publisher can avoid distributing through Amazon and, for all intents and purposes, Amazon dictates the economic terms, with publishers paying more for Amazon’s services each year and receiving less in return. At the same time Amazon’s approach to its bookstore enables widespread counterfeiting, defective products, and fake reviews that both degrade the consumer experience and diminish the incentives of authors and publishers to create new works and bring them to the marketplace. We thank the American Booksellers Association for making a clear, concise, and powerful case for government officials to step in quickly and decisively to exercise corrective measures and appropriate governance of this dominant platform.”

Unit sales of print books hit a new high for the week ended March 13, 2021, compared to the similar week in 2020. According to NPD BookScan, units jumped 36.5% last week over the week ended March 14, 2020. A portion of the gain was due to some weakness in 2020 caused by the early impact of the pandemic; unit sales fell 6.2% compared to the similar week in 2019. But, for the most part, the unit sales gain was driven by continued solid demand for print books. Large unit gains, as has been the case for most of 2021, occurred in all the major segments, and the increase was also helped by the release of two adult nonfiction books that hit the top two slots on the overall bestseller list. Nicole Lepera’s How to Do the Work was #1, selling more than 53,000 copies, while Dana Perino’s Everything Will Be Okay was second, selling nearly 51,000 copies. A third new nonfiction title also had a solid first week, with The Code Breaker by Walter Isaacson landing in fifth place on the overall list, selling over 41,000 copies. Overall, print unit adult nonfiction sales increased 27.6% over the comparable week in 2020.

S&P Global announced its support for the principles outlined in the Say on Climate initiative, reinforcing the Company's existing pledges to support the transition to a global net-zero economy. The initiative is a disclosure-based plan focused on emissions with the goal of advocating for sustainable business practices and corporate climate action plans. It will be presented to shareholders for a vote in S&P Global's 2021 and 2022 proxy statements. "Say on Climate's principles complement our belief in the importance of transparency and disclosure as well as the market-leading steps we have taken towards becoming net-zero by 2040," said Ewout Steenbergen,Executive Vice President and Chief Financial Officer of S&P Global. "We are working collaboratively with organizations in the private, public and nonprofit sectors to ensure that S&P Global meets our science-based targets and emissions reductions goals."

Bookstore sales fell 16.6% in January compared to the first month of 2020, according to preliminary estimates released by the U.S. Census Bureau. Sales in the month were $797 million, down from $956 million in January 2020. The 16.6% drop was only a slight increase over the 15% decline bookstore sales posted in December compared to December 2019, and is another sign that sales declines could be levelling off. February is typically the slowest month for bookstore sales—in 2020, sales in the month were $573 million—and last year's sales began to tank in March as the pandemic set in. Bookstore sales finished 2020 with a 28% decline compared to 2019.

News Corp announced that it has reached a multi-year agreement to provide access to trusted news and information to millions of Facebook users in Australia through its Facebook News product. The agreement involves News Corp Australia and includes The Australian national newspaper, the news.com.au news site, major metropolitan mastheads like The Daily Telegraph in New South Wales, Herald Sun in Victoria and The Courier-Mail in Queensland and regional and community publications. In parallel Sky News Australia has also reached a new agreement with Facebook which extends and significantly builds on an existing arrangement. The three-year deal follows an agreement reached in October, 2019 in which News Corp publications in the United States receive payments in exchange for access to additional stories for Facebook News.

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."

Consumers’ spirits are getting a boost from the anticipation of COVID-19 stimulus checks and the growing number of vaccinations. The initial reading of consumer sentiment rose to 83 in early March from 76.8 in February according to an index produced by the University of Michigan. It was the index’s highest level in a year. “The gains were widespread across all socioeconomic subgroups and all regions, although the largest monthly gains were concentrated among households in the bottom third of the income distribution as well as those aged 55 or older,” said Richard Curtin, chief economist, Surveys of Consumers, University of Michigan.

Fueled by huge gains for a host of Dr. Seuss titles, as well as solid results for several new books, unit sales of print books soared 34.2% in the week ended Mar. 6, 2021, over the comparable week in 2020, at outlets that report to NPD BookScan. Unit sales jumped 57.9% in juvenile fiction over the week ended Mar. 8, 2020, as Dr. Seuss titles took eight of the top 10 spots on the category list. The Cat in the Hat led the way, selling about 105,000 copies in the week, compared to 22,000 copies in the first week of March last year. Green Eggs and Ham followed, selling about 90,000 copies, trailed by One Fish Two Fish Red Fish Blue Fish (88,000); Oh, the Places You’ll Go! (74,000); and Fox in Socks (64,000). Interest in these books was heightened by the announcement by Dr. Seuss Enterprises that it will stop printing six other Dr. Seuss titles written between 1937 and 1976 because of concerns that they “portray people in ways that are hurtful and wrong.”

For the Fourth Quarter of Fiscal 2020 *Net sales decreased 4.6% to $2.2 billion compared to $2.3 billion in the fourth quarter of fiscal 2019 due to the impact of COVID-19. *Operating income decreased to $224.3 million, or 10.2% of net sales, compared to $287.8 million, or 12.5% of net sales, in the fourth quarter of fiscal 2019. Adjusted operating income was $254.7 million, or 11.6% of net sales. *Net income was $171.5 million compared to $222.7 million in the fourth quarter of fiscal 2019. Adjusted net income was $193.4 million compared to $219.5 million in the fourth quarter of fiscal 2019. For the Full Year of Fiscal 2020 *Net sales decreased 16.8% to $6.2 billion compared to $7.4 billion in fiscal 2019 due to the impact of COVID-19. *Operating income decreased to $236.8 million, or 3.9% of net sales, compared to $901.1 million, or 12.1% of net sales, in fiscal 2019. Adjusted operating income was $352.5 million, or 5.7% of net sales. *Net income was $175.8 million compared to $705.9 million in fiscal 2019. Adjusted net income was $264.0 million compared to $688.3 million in fiscal 2019.

Following a thorough succession planning process, the company announced leadership changes to drive continuity and continued momentum, all effective in June. Dave Kimbell, president, will succeed Mary Dillon as chief executive officer and will be nominated to stand for election to the company’s board of directors at the 2021 annual stockholders meeting. Dillon will transition to the role of executive chair of the board of directors. Kecia Steelman, currently chief store operations officer, will be elevated to the role of chief operating officer.

Fiscal 2020 Fourth Quarter Results Overview *Total net sales were $177.9 million, an increase of $5.4 million or 3.2%, compared to $172.5 million last year. Total comparable net sales, including both physical stores and e-commerce, increased by 2.5% compared to last year. *Operating income was $14.1 million, or 7.9% of net sales, compared to $8.5 million, or 4.9% of net sales, last year. The $5.6 million increase in operating income was primarily due to the combined impact of the factors noted above. Fiscal 2020 Full Year Results Overview *Total net sales were $531.3 million, a decrease of $88.0 million or 14.2%, compared to $619.3 million last year primarily as a result of the various periods of store closures, reduced store operating hours, and restrictions on customer traffic into physical stores resulting from the COVID-19 pandemic. *Operating loss was $(3.0) million, or (0.6)% of net sales, compared to operating income of $28.5 million, or 4.6% of net sales, last year. The decrease in operating results was primarily attributable to the impacts of the COVID-19 pandemic on the Company's business as noted above.