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.

Ah, the age old practice of letter writing. If you're a fan of putting pen to page, there's also a good chance you also enjoy sending postcards home whenever you travel. It might be a while before you can send postcards from far off places again, but that doesn't mean you can't keep in touch with friends and family via snail mail in the meantime, as many us remain separated by the pandemic. With that, I'm here to sing the praises of sending your loved ones postcards and greeting cards, both the artistic and the playful, whether it's to celebrate an occasion or just because. And luckily, there's no shortage of beautiful cards available to buy online. Although the pandemic has been lonely at times, it has inspired me to send more mail. In fact, I'd say that one of the best things I've done during the pandemic is starting to write to a pen pal. These days, the excitement of opening my mailbox to find a letter from a friend or note from my pen pal brings me joy in ways I might not have appreciated pre-pandemic.

Kohl’s Corporation released an updated investor presentation detailing progress on its strategy and initiatives to drive continued momentum. The presentation also provides an overview of the capabilities and skills of the Kohl’s Board of Directors and a comparison to the slate put forward by Macellum Advisors GP, LLC, Legion Partners Holdings, LLC, Ancora Advisors, LLC, and 4010 Capital, LLC which seek control of Kohl’s. Highlights of the presentation include: Well-positioned in a retail industry undergoing profound change: *Kohl’s strengthened its financial and competitive position during a period of profound change in the retail industry. *The Company’s investments in omnichannel and operations helped Kohl’s successfully navigate the pandemic. *Kohl’s continues to actively and thoughtfully strengthen its foundation to differentiate itself and support future growth.

Barnes & Noble Education continues to face tough times due to the pandemic, with the significantly reduced number of students on campus colleges leading to lower sales at its stores. The company reported sales for the third quarter ended December 31, 2020, of $411.6 million, down 18.1% compared to the previous year. The company saw a net loss of $48.3 million, up dramatically from a net loss of $1.7 million in the same period in 2019. In retail, the company's largest division, sales in the third quarter dropped to $70.3 million, down 15.5% compared with the prior year. Comparable store sales fell 19.9% for the quarter, with comparable textbook sales declining 8.1% and merchandise down 45.8%. Sales in the wholesale division were $39.5 million for the quarter, down 41.1% compared with the previous year.

Following the successful acquisition of InnerWorkings in October 2020, HH Global is poised to deliver the next phase of growth. As such today Robert MacMillan announced the new executive leadership team effective from 1 April 2021: Board of Directors: Robert MacMillan as Executive Chairman; Mike Perez as Group CEO; Edward Parsons as Chief of Staff to the Chairman; Kristian Elgey as Interim Group CFO and Chief Commercial Officer; Steve Nunn and Craig Bingon as Non-Executive Directors. In addition, Raphael de Botton and Amer Khatoun - representatives from investor partners Blackstone - continue to sit on the Board of Directors. Group Management Board: Alan Bittle as Regional CEO, APAC; Nadia Pelekanos as Regional CEO, Central Europe, India, Middle East & Africa; Michael Keen as Regional CEO, Europe; Scott Martin as Regional CEO, Americas; Helen Babbe as Chief of Staff to the CEO; Kristian Elgey as Interim CFO and Chief Commercial Officer; Jason Hanavan as CFO, Americas; Lee Humphreys as CEO of Digital; Kevin Dunckley as Chief Sustainability Officer.

In 2020, sales decreased by £472m in headline terms to £3,397m (2019: £3,869m) with underlying performance reducing sales by £386m, portfolio changes reducing sales by £55m and currency movements decreasing revenue by £31m. Stripping out the impact of portfolio and currency movements, revenue was down 10% in underlying terms. Our statutory operating profit was £411m in 2020 compared to a profit of £275m in 2019. The increase in 2020 is largely due to the gain on sale of PRH and the reduction in restructuring costs, which were more than enough to offset the impact of COVID-19 and portfolio changes on trading profits. Net debt to adjusted EBITDA was 0.8x (2019: 1.3x). Net debt reduced from £1,016m in 2019 to £463m at the end of 2020. Excluding leases, net debt reduced from £374m in 2019 to net cash of £159m in 2020.

Tribune Publishing Company, which is now in the process of being acquired by Alden Global Capital, increased its digital revenue by 57%, or $16.5 million, in 2020 YoY, and the number of its digital-only subscribers by 30.5% to 436,000. But those gains only partly offset an overall revenue decline to $746 million, versus $945 million in 2019, and a loss from continuing operations of $46.8 million, up from $7.1 million in the prior year, according to financial results released on Thursday. The overall hit was also mitigated, in part, by a 14.5% reduction in operating expenses, or $138.1 million.

A successful digital-first brand from Hearst that has seen immeasurable growth with not only its website, but its printed bookazines and cookbooks, Delish.com is launching a quarterly print magazine. Delish in print will be sold at the newsstands, but will also be an integral part of the subscription model the brand has in place for its online footprint. An all-access subscription of $20 annually will not only get you everything online, but also the 96 page (plus covers) printed magazine as part of the memebership. Dan Fuchs, formerly of HGTV magazine and O, The Oprah Magazine, is the VP/Chief Revenue Officer of the new quarterly print publication. I spoke with Dan recently and we talked about this exciting new venture into the world of print for a digital-only entity. Dan said it’s an exhilarating time for a brand that has been successful online and in the world of print, with its special bookazines and cookbooks, to have a quarterly magazine coming out in print. Opportunities and more growth will surely follow. And with Editorial Director, Joanna Saltz, as his partner, Dan is looking forward to the future of Delish in all its exciting extensions.

Net sales for the quarter increased 14.7 percent, to $43.89 billion, from $38.26 billion last year. Net sales for the first 24 weeks increased 15.8 percent, to $86.23 billion, from $74.49 billion last year. Net income for the quarter was $951 million, or $2.14 per diluted share, which includes $246 million pretax, or $0.41 per diluted share, in costs incurred primarily from COVID-19 premium wages. Last year’s second quarter net income was $931 million, or $2.10 per diluted share. Net income for the first 24 weeks was $2.12 billion, or $4.76 per diluted share, compared to $1.77 billion, or $4.00 per diluted share, last year. For the four-week reporting month of February, ended February 28, 2021, the Company reported net sales of $14.05 billion, an increase of 15.2 percent from $12.20 billion last year. For the twenty-six week period ended February 28, 2021, net sales were $93.16 billion, an increase of 15.4 percent from $80.76 billion last year.

*Research Publishing & Platforms rose 3% as reported and 1% at constant currency, with strong growth in open access and inorganic contributions from acquisitions offsetting anticipated subscription revenue pressure. *Academic & Professional Learning declined 2% as reported and 4% at constant currency mainly due to COVID-19 impact on test prep and in-person corporate training, and a decline in print book revenue, which offset continued growth in digital content and courseware. *Education Services increased 25% as reported and 24% at constant currency, driven by organic revenue growth of 13% from strong online enrollment and new student starts, and the two-month inorganic contribution from mthree (+$8 million). *GAAP EPS of $0.39 declined from $0.63 in the prior year, reflecting restructuring charges of $0.28 per share, primarily related to a previously disclosed reduction in Wiley’s real estate footprint.

Driven by strong backlist sales, unit sales of print books rose 26% last week over the week ended February 29, 2020, at outlets that report to NPD BookScan. It was the largest week-over-week gain compared to 2020 so far this year, helping unit sales finish the first two months of 2021 with a 21.2% increase over the first two months of 2020. Last week’s 26% increase was accomplished without the release of a major new hit. The top-selling new book last week was Believe It by Jamie Kern Lima, which sold 29,000 copies, landing it in third place on the overall bestseller list. The top title last week was Charlie Mackesy’s The Boy, the Mole, the Fox, and the Horse, published in October 2019, which had a huge sales spike in the week, selling nearly 97,000 copies.

Postmaster General and CEO Louis DeJoy today provided details of the next phase of organizational changes he first announced in August 2020, designed to improve efficiency, drive success and better serve Postal Service customers. The next phase of these organizational changes includes the following: *District Consolidation Plan: The existing 67 Postal Service Districts will be consolidated to 50 Districts. New District territories will closely align to state boundaries. *Centralization of Marketing functions: The Marketing functions previously performed at the Area and District levels will be centralized into the Chief Customer and Marketing organization, including Consumer and Industry Affairs and the Bulk Mail Entry Units (BMEUs). *Realignment of Logistics and Processing Operations: To ensure alignment with Retail and Delivery Operations, and Logistics and Processing Operations, a thirteenth division will be created. Processing operations is organized into 2 regions, each geographically aligned with two retail and delivery areas; and divided into 6 or 7 divisions for a total of 13 divisions.

Urban Outfitters, Inc. announced net income of $29 million and $1 million for the three months and year ended January 31, 2021, respectively. Total Company net sales for the three months ended January 31, 2021, decreased 6.9% over the same period last year to $1.09 billion. Comparable Retail segment net sales decreased 7% due to negative retail store net sales as stronger conversion rates could not offset the reduced store traffic caused by the coronavirus pandemic and related occupancy restrictions. Lower store net sales were partially offset by strong double-digit growth in digital channel sales. By brand, comparable Retail segment net sales increased 6% at Free People and decreased 6% at Urban Outfitters and 11% at the Anthropologie Group. Wholesale segment net sales decreased 7%. For the year ended January 31, 2021, total Company net sales decreased 13.4% over the same period last year. Comparable Retail segment net sales decreased 11%, driven by negative retail store net sales due to mandated store closures as a result of the coronavirus pandemic and lower store productivity once opened, partially offset by strong double-digit growth in digital channel sales. Wholesale segment net sales decreased 40%.

Fourth Quarter Summary: •Total Company net sales decreased 20 percent compared with the same period in fiscal 2019, slightly exceeding Company expectations for a low-twenties percentage decrease. •Digital sales increased 24 percent compared with the same period in fiscal 2019 and represented 54 percent of the business. •Top performing merchandise categories included home, active and beauty. •For the Nordstrom brand, net sales decreased 19 percent compared with the same period in fiscal 2019. For the Nordstrom Rack brand, net sales decreased 23 percent. •Gross profit, as a percentage of net sales, of 33 percent decreased 160 basis points compared with the same period in fiscal 2019, primarily due to deleverage from lower sales volume and higher markdowns, partially offset by planned expense savings.

For the fourth quarter, the Company reported a net loss of $79.1 million, compared to a net loss of $4.3 million, for the thirteen weeks ended February 1, 2020 ("last year's fourth quarter"). The fourth quarter net loss includes $35.9 million, in significant after-tax non-cash charges, including a deferred tax asset valuation allowance of $32.1 million, within the Company's income tax provision (benefit). See tabular details in the Summary of Significant Non-Cash Charges table below for further details. Last year's fourth quarter includes after-tax accelerated depreciation charges of $0.8 million. For fiscal 2020, the Company reported a net loss of $360.1 million, compared to a net loss of $12.8 million, for the fifty-two weeks ended February 1, 2020 ("fiscal 2019"). The net loss for fiscal 2020 includes $199.6 million, in significant after-tax non-cash charges. See tabular details in the Summary of Significant Non-Cash Charges table below for further details. The net loss for fiscal 2019 includes after-tax accelerated depreciation charges of $8.1 million, and the after-tax impact of severance and other related net charges of $2.1 million.

The Company's total comparable sales grew 20.5 percent in the fourth quarter, reflecting comparable stores sales growth of 6.9 percent and digital sales growth of 118 percent. Total revenue of $28.3 billion grew 21.1 percent compared with last year, driven by sales growth of 21.0 percent and a 28.7 percent increase in other revenue. Operating income was $1.8 billion in fourth quarter 2020, up 53.2 percent from $1.2 billion in 2019. Full-year sales increased 19.8 percent to $92.4 billion from $77.1 billion last year, reflecting a 19.3 percent increase in comparable sales combined with sales from non-mature stores. Full-year revenue of $93.6 billion grew 19.8 percent compared with 2019, reflecting sales growth of 19.8 percent and an 18.2 percent increase in other revenue.

*Net sales of $1.1 billion down 5% as compared to last year, reflecting the adverse impact of COVID-19. *Digital net sales increased 34% to $639 million reflecting robust growth in every month of the quarter. *Gross profit rate improved 230 basis points to 60.5% on higher average unit retail and slightly lower average unit cost. *Operating income of $116 million and $131 million on a reported and adjusted non-GAAP basis, respectively, as compared to $122 million and $125 million last year, on a reported and adjusted non-GAAP basis, respectively. A summary of results for the full year ended January 30, 2021 as compared to the full year ended February 1, 2020: *Net sales of $3.1 billion down 14% as compared to last year, reflecting the adverse impact of COVID-19. *Digital net sales increased 39% to approximately $1.7 billion. *Gross profit rate improved by 110 basis points to 60.5% on higher average unit retail and flat average unit cost. *Operating loss of $20 million and operating income of $52 million on a reported and adjusted non-GAAP basis, respectively. This compares to operating income last year of $70 million and $83 million on a reported and adjusted non-GAAP basis, respectively.

As far as the media marketplace goes, 2020 was a tale of two economies. While advertising and marketing spending experienced one of its worst years after -- decline 7.1% in the U.S. and 6.8% worldwide -- consumer spending on media actually soared, rising 5.6% and 6.1%, respectively. That's the finding of a MediaPost analysis of two reports released by media industry economists PQ Media, including today's "Consumer Spending On Media" report, and November 2020's Advertising & Marketing Spending Forecast. While the comparisons are not exactly apples-to-oranges, because of the ways PQ categories consumer media, they offer some directional insights on where the economic engines of the media industry are last year, now and for the years ahead.

With the help of our trusted non-profit partners, Boys & Girls Clubs of America, Good360 and others, Gap Inc.’s portfolio of purpose-led lifestyle brands are sending 3.5 million masks and face coverings to non-profit community organizations serving those with the greatest needs across the U.S. ​Last month, Old Navy donated 1 million masks to Boys & Girls Clubs of America, one of the brand’s longtime nonprofit partners, to support local Clubs as they continue to provide safe spaces for kids and teens. Old Navy is committed to serving American families in need and will now provide an additional 1 million masks to Baby2Baby, local This Way ONward partners, and Boys & Girls Clubs of America to further reach underserved communities. Through The Imagine Mission, Old Navy is working to create a better future for future generations.

Unit sales of print books rose 10.9% in the week ended Feb. 20, 2021, over the comparable week in 2020, at outlets that report to NPD BookScan. The adult fiction category had a solid week, with unit sales up 20.5% over the week ended Feb. 22, 2020. A Court of Silver Flames by Sarah J. Maas was the top title, selling nearly 95,000 copies in its first week. In second and third place on the adult fiction list were two Kristin Hannah titles: The Four Winds, which sold more than 46,000 copies, and Firefly Lane, which sold more than 20,000 copies. YA fiction print unit sales jumped 47.7% over 2020, as E. Lockhart’s We Were Liars remained #1 on the category list, selling more than 15,000 copies. Adam Silvera’s They Both Die at the End was second, selling just over 11,000 copies. Stamped by Jason Reynolds continued to lead the YA nonfiction list as the category posted a 55.4% increase over 2020.

Dear Industry Member: The Postal Service is conducting a survey on the potential use of a larger size First Class Mail postcard and has asked ACMA and others to pass it on to our industries. The USPS says your feedback “will provide great insights for us to consider during the decision-making process.” SURVEY LINK: https://uspsci.allegiancetech.com/cgi-bin/qwebcorporate.dll?idx=F38Y58 The survey began February 24th and will remain open until Wednesday, March 10th.

The Association of American Publishers (AAP) today released its StatShot report for December 2020 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 December 2020 were down 8.5% as compared to December 2019, coming in at $1.1 billion. Year-to-date sales were flat, with an increase of 0.1% as compared to calendar 2019, with a total of $14.8 billion. Trade (Consumer Books) sales were up 9.5% in December, coming in at $796.1 million. For January-December 2020 Trade sales were up 9.7% as compared to the same period last year, coming in at $8.6 billion. In terms of physical paper format revenues during the month of December, in the Trade (Consumer Books) category, Hardback revenues were up 14.2%, coming in at $312.5 million; Paperbacks were up 2.4%, with $248.1 million in revenue; Mass Market was down 1.6% to $25.9 million; and Board Books were up 6.2%, with $16.7 million in revenue.

In a result no one in publishing would have predicted last spring when Covid-19 first hit the U.S., book publishing sales finished 2020 flat with 2019 based on year-end figures supplied by 1,354 publishers to AAP’s StatShot program. The two major trade categories, adult books and children/young adult, had gains of 12% and 6.4%, respectively, while the two big educational segments saw declines. With many public schools teaching remotely for long stretches of last year, sales of K-12 instructional materials fell 19.6% in 2020 compared to 2019. Sales of higher educational course materials declined 4.3% last year as many colleges and university turned to hybrid instruction, which changed buying habits by students.

Dear Industry Executive: We have heard from some companies about their willingness to underwrite our strong opposition to the PRC’s granting of additional rate authority to the US Postal Service. We still need additional funding. Otherwise, we’re in for draconian rate hikes throughout the next decade that could push all of us out of the mail. What Your Pledge Will Help Us Do: 1. A branded digital campaign to activate and engage catalog merchants, industry employees, suppliers, and the millions of catalog shoppers who rely on and benefit from our industry. We will launch a simple constituent outreach tool for widespread use to motivate elected officials with template-driven email and text tools. The tool will also provide all details, op-eds and other materials to both whip up support and be an online destination that will drive pick-ups, retweets and interest beyond catalog-only interests. 2. Aided by the digital campaign, an aggressive effort to convince lawmakers in Washington to pass sensible postal reform legislation that addresses the massive congressionally-imposed cost overhangs that plague the postal system and are the causal factor in the PRC’s ruling. 3. File a lawsuit in the US Court of Appeals challenging the Postal Regulatory Commission’s (PRC) overreach that clearly exceeds its authority to make such sweeping and fundamental changes to the rate-setting system.

Full-year operating income was $1.580 billion compared to $258.4 million last year, and net income was $844.5 million compared to a net loss of $366.4 million last year. Net sales were $11.847 billion for the year ended Jan. 30, 2021, compared to $12.914 billion for the year ended Feb. 1, 2020. Comparable sales for the full year increased 21 percent, consisting of a 45 percent increase at Bath & Body Works and a 1 percent increase at Victoria’s Secret. Full year 2020 sales in the direct channel increased 109 percent at Bath & Body Works and 31 percent at Victoria’s Secret.

Domestic Segment Q4 FY21 Results: Domestic revenue of $15.40 billion increased 11.2% versus last year. Domestic GAAP gross profit rate was 20.9% versus 21.2% last year. International Segment Q4 FY21 Results: International revenue of $1.54 billion increased 14.0% versus last year. International GAAP gross profit rate was 21.6% versus 22.6% last year.

Fourth Quarter 2020 Consolidated Results • Fourth quarter revenues of $875.4 million rose 25.2% as compared to the prior year quarter reflecting the acquisition of Legacy Gannett. ◦ Same store pro forma revenues (as defined and reconciled on Table No. 5 below) decreased 16.3%, due to unfavorable impacts resulting from the COVID-19 pandemic and general trends adversely impacting the publishing industry. This is an improvement of 330 basis points over the third quarter 2020 trend. • Digital advertising and marketing services revenues reached $223.3 million in the fourth quarter, or 25.5% of total revenues. • Net loss attributable to Gannett of $122.2 million in the fourth quarter reflects a $74.3 million non-cash loss on the derivative associated with our convertible notes and a $42.1 million loss associated with the early extinguishment of debt.

Q4 2020 Headlines: HMH achieved 2020 billings at the top end of its revised guidance range and positive free cash flow, outperforming its revised guidance range for 2020. Additionally: *Continued momentum with SaaS billings growth of 142% and digital platform user growth of 306% for full year 2020 *Annualized Recurring Revenue (ARR) 1 of $58 million in 2020; HMH will report its Net Retention Rate (NRR) beginning in the first quarter of 2021 *Connected Sales1 made up 50% of Education segment billings in 2020. Full year 2020 Financial Results: Net Sales: HMH reported net sales of $1,031 million for the full year of 2020, down 26% compared to $1,391 million in 2019. Billings1: Billings for 2020 decreased $502 million, or 32%, from 2019. Net Loss: Net loss of $480 million for 2020 was a $266 million unfavorable change from the net loss of $214 million in 2019, due primarily to the same factors impacting operating loss.

The U.S. Postal Service announced it awarded a 10-year contract to Oshkosh, WI, based Oshkosh Defense, to manufacture a new generation of U.S.-built postal delivery vehicles that will drive the most dramatic modernization of the USPS fleet in three decades. The historic investment is part of a soon-to-be-released plan the Postal Service has developed to transform its financial performance and customer service over the next 10 years through significant investments in people, technology and infrastructure as it seeks to become the preferred delivery service provider for the American public. Under the contract’s initial $482 million investment, Oshkosh Defense will finalize the production design of the Next Generation Delivery Vehicle (NGDV) — a purpose-built, right-hand-drive vehicle for mail and package delivery — and will assemble 50,000 to 165,000 of them over 10 years. The vehicles will be equipped with either fuel-efficient internal combustion engines or battery electric powertrains and can be retrofitted to keep pace with advances in electric vehicle technologies.

Fourth Quarter 2020 Summary(1) *Total reported sales of $2.3 billion, down 9% versus last year *GAAP operating income of $21 million and net income of $18 million, or $0.34 per share, versus $74 million and $55 million, respectively in prior year *Operating cash outflow of $4 million and adjusted free cash outflow of $4 million, versus $152 million and $135 million, respectively in prior year *$1.7 billion of total available liquidity including $729 million in cash and cash equivalents.

Urban Outfitters has been leveraging the JRNI Appointments solution to deliver personalized customer experiences throughout the pandemic at its Anthropologie and BHLDN brands. Anthropologie and BHLDN have both leveraged the application to support in-store appointments, virtual appointments and email consultations while complying with social distancing requirements. As a result, the brands can provide seamless, personalized experiences to each shopper. Anthropologie and BHLDN have engaged with 25,000 customers since April 2020, with overall transaction volume rising 25%. Customers who booked appointments via the JRNI solution purchased 40% of the time in stores and 65% of the time virtually, delivering higher results than any other channel. For customers, the experience has been seamless. The brands have been able to experiment within the platform with different types of triggers and communications to enhance the customer experience.

There’s seismic news in the media, outdoor, endurance, and tech industries today. Pocket Outdoor Media (parent company to SNEWS, Backpacker, and nearly 30 other active living brands) announced news that will catapult the Boulder-based company into a powerful position in these industries: It has purchased Outside Magazine, Outside TV, Gaia GPS, Peloton Magazine, and athleteReg. Additionally, Pocket Outdoor Media is rebranding to Outside, effective today. “Adding these businesses to our portfolio and rebranding Pocket is a transformative moment for us,” says Robin Thurston, CEO of the all-new Outside. “Together with our other category-leading properties—SKI, Yoga Journal, Backpacker, Trail Runner, VeloNews, Climbing, Warren Miller Entertainment, Roll Massif, FinisherPix, SNEWS, and more—these brands make our new company the world’s leading creator of active living content, experiences, travel, and services. We now deliver content to almost every home in America across every platform, screen, and device.”