Fourth quarter net income decreased 16% to $454 million and diluted earnings per share decreased 15% to $1.88 as the Company took a number of lease impairment and restructuring charges aimed at improving future financial performance. Adjusted net income for the fourth quarter increased 5% to $654 million due to revenue growth, productivity improvements, and a lower effective tax rate partially offset by increased investment spending. Adjusted diluted earnings per share increased 7% to $2.71 benefiting from a 2% decrease in the average diluted shares outstanding. Pre-tax adjustments in the fourth quarter of 2020 totaled $247 million primarily due to office lease and equipment impairments, and restructuring charges all intended to improve future financial performance. Additional pre-tax adjustments included IHS Markit merger costs, deal-related amortization, and Kensho retention-related expenses. For the full year, revenue increased 11% to $7.44 billion. 2020 net income increased 10% to $2.34 billion and diluted earnings per share increased 12% to $9.66. 2020 adjusted net income increased 20% to $2.83 billion and adjusted diluted earnings per share increased 23% to $11.69.

Kohl’s announced it will partner with Eddie Bauer to bring premium-quality performance outerwear and outdoor apparel for the entire family to Kohl’s customers nationwide in Fall 2021. Kohl’s will offer a wide array of apparel from the outdoor brand across women’s, men’s and kids – from a core assortment of year-round products to seasonal selections – in as many as 500 stores. In addition, Kohls.com will offer an expanded assortment of Eddie Bauer favorites including down jackets and parkas, performance bottoms, fleece, flannel, sleepwear, and more – providing families with everything they need for their outdoor adventures. “We are excited to partner with Eddie Bauer, a brand synonymous with outfitting families for any activity or adventure, to bring their assortment of award-winning, high-quality activewear and outerwear to millions of Kohl’s customers,” said Doug Howe, Kohl’s chief merchandising officer. “Eddie Bauer’s rich heritage of designing authentic, functional apparel that inspires everyone to get outdoors combined with their passion for delivering differentiated, innovative products that meet the needs of today’s consumer has made the brand a leader in the outdoor industry. The addition of the Eddie Bauer brand into our portfolio acutely aligns with our ambition to grow our active and outdoor business, and attract new and younger customers to Kohl’s.”

With all major categories posting double-digit gains, unit sales of print book rose 19.5% in the week ended Jan. 30, 2021, over the comparable week in 2020, at outlets that report to NPD BookScan. Unit sales of YA fiction soared by 50.6% over the week ended Feb. 1, 2020, and YA nonfiction sales rose 41.2%. In both cases it was strong across-the-board sales rather than one or two big bestsellers that drove the gains. In YA fiction, We Were Liars by E. Lockhart remained the top title, selling more than 11,000 copies. Brigid Kemmerer’s A Vow So Bold and Deadly was the bestselling new title, selling more than 7,000 copies. YA nonfiction sales were led by Stamped by Jason Reynolds and Ibram X. Kendi, which sold more than 3,400 copies. Juvenile fiction unit sales rose 32.5% and nonfiction increased 24% over a year ago. Alice Schertle’s Little Blue Truck’s Valentine stayed in the fiction top spot, selling just over 25,000 copies.

As lockdowns drag on and consumers spend more time at home, publishers are continuing to lean in to direct mail to engage their audience … and they are finding creative new ways to make it happen. “Publishers know Americans are going to be hunkered down at home for another few months of coronavirus-created isolation,” writes Max Willens in Digiday, “so some of them are hoping to drive more revenue by going right through readers’ front doors.” Those doors are especially attractive to direct-to-consumer (DTC) brands, and many are helping their DTC advertisers create direct mail campaigns. “Over the past few months, The Los Angeles Times has been pitching direct mail and custom publishing campaigns to media agencies focused on DTC brands,” Willens writes.

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

Preliminary Fourth Quarter 2020 Results: Fourth quarter 2020 total revenue declined approximately 10%, including a comparable sales decrease of 11%. Based on this, the Company expects fourth quarter 2020 diluted earnings per share to be in the range of $1.00 to $1.05, before considering any impact from tax planning strategies. These preliminary results reflect a better than expected gross margin rate and strong SG&A expense management. Gross margin continued to benefit from disciplined inventory management and further optimization in promotional strategies. SG&A expense decline was driven primarily by reductions in store, marketing, and technology expenses.

Fiscal 2021 Second Quarter Key Financial Highlights *Revenues were $2.41 billion, a 3% decline compared to $2.48 billion in the prior year – Adjusted Revenues increased 2% compared to the prior year *Net income of $261 million compared to $103 million in the prior year *Total Segment EBITDA was $497 million compared to $355 million in the prior year *Book Publishing Segment EBITDA increased 65% compared to the prior year, driven by strong revenue growth across every category *Dow Jones reported 43% Segment EBITDA growth, driven by record digital advertising revenues and continued growth in digital subscriptions

Unit sales of print book rose 19.5% in the week ended January 30, 2021, over the comparable week in 2020 at outlets that report to NPD BookScan. The increase marks the third consecutive week unit sales increased by at least 19% compared to 2020. For the month of January, print unit sales were 21.3% higher than January 2020. As has been the case for most of January, sales were up by double digits in all major categories. The four children’s publishing segments saw the largest gains. Unit sales of young adult fiction increased by 50.6% over a year ago, and young adult nonfiction sales rose 41.2%. In YA fiction, sales of supernatural/horror rose by 113% over the week ended February 1, 2020.

Fiscal 2021 second quarter revenues grew 11 percent to a record $902 million from the prior-year period. Highlights from the second quarter of fiscal 2021 included: A 22 percent increase in National Media Group digital advertising revenues from the prior-year period. Sessions to Meredith's owned and operated and network sites grew 16 percent from the prior-year period, led by the PEOPLE, Allrecipes, Martha Stewart Living, and InStyle brands. A 96 percent increase in Local Media Group political spot and digital advertising from the prior election cycle two years ago. Performance was led by the Phoenix and Atlanta markets, which combined accounted for approximately 60 percent of total political advertising revenues. A 34 percent increase in National Media Group digital consumer/licensing revenues from the prior-year period. Performance was driven by Apple News+, strong sales of Better Homes & Gardens-branded products at Walmart stores across the United States and at Walmart.com, and ecommerce via other retail partners. Continued sequential year-over-year improvement in Meredith's magazine and non-political television advertising platforms. Both comparable National Media Group magazine advertising and Local Media Group non-political advertising revenues declined in the mid-teens from the prior-year period. As a result of this performance, fiscal 2021 second quarter earnings from continuing operations more than doubled to $149 million from the prior-year period. Adjusted EBITDA grew 57 percent to $304 million.

Costco Wholesale Corporation reported net sales of $13.64 billion for the retail month of January, the four weeks ended January 31, 2021, an increase of 17.9 percent from $11.57 billion last year. For the twenty-two weeks ended January 31, 2021, the Company reported net sales of $79.11 billion, an increase of 15.4 percent from $68.56 billion during the similar period last year.

Total revenues for the fourth quarter of 2020 increased 0.2 percent to $509.4 million from $508.4 million in the fourth quarter of 2019. Subscription revenues increased 14.7 percent to $315.8 million, advertising revenues decreased 18.7 percent to $139.3 million and other revenues decreased 12.1 percent to $54.3 million. Total operating costs decreased 0.4 percent in the fourth quarter of 2020 to $428.8 million compared with $430.4 million in the fourth quarter of 2019, while adjusted operating costs decreased 0.1 percent to $411.7 million from $412.0 million in the fourth quarter of 2019, in each case as a result of the factors discussed below.

2020 Financial Highlights •Delivered sales of $11.8 billion, up 2.7%, and up 3.5% on an organic, daily, constant currency basis compared to the prior year (excluding divestitures and foreign exchange) •Generated reported operating earnings of $1.0 billion; adjusted operating earnings of $1.3 billion •Achieved $1.1 billion of operating cash flow and returned over $0.9 billion to shareholders through dividends and share repurchases. Fourth Quarter Financial Highlights •Delivered sales of $2.9 billion, up 3.3%, and up 5.6% on an organic, daily, constant currency basis compared to the fourth quarter 2019 (excluding divestitures and foreign exchange) •Generated reported operating earnings of $275 million; adjusted operating earnings of $295 million •Achieved reported operating margin of 9.4%, up 300 basis points; adjusted operating margin of 10.0%, down 75 basis points

Gannett Co., Inc. announced that Gannett Holdings, LLC, a wholly owned subsidiary of the Company, has priced a $1.045 billion term loan, which will be used to refinance the 11.5% term loan entered into for the acquisition of Gannett Media Corp. The Term Loan B priced at L+700, with a 0.75% LIBOR floor and maturity of February 2026, callable at any time. The new Term Loan B is expected to close early next week and is subject to execution of definitive documentation. “We are pleased to announce the refinancing of our 11.5% term loan with a widely syndicated L+700 Term Loan B, which meaningfully improves the Company’s balance sheet and overall capital structure,” said Michael Reed, Chairman and Chief Executive Officer of Gannett.

Net sales increased 38% to $386.1 billion, compared with $280.5 billion in 2019. Excluding the $1.4 billion favorable impact from year-over-year changes in foreign exchange rates throughout the year, net sales increased 37% compared with 2019. Operating income increased to $22.9 billion, compared with operating income of $14.5 billion in 2019. Net income increased to $21.3 billion, or $41.83 per diluted share, compared with net income of $11.6 billion, or $23.01 per diluted share, in 2019.

Fourteen weekly newspapers in New Jersey will convert to nonprofit status, thanks to a deal between the Corporation for New Jersey Local Media (CNJLM) and current owner, New Jersey Hills Media Group. CNJLM has signed a letter of intent to convert the titles, some of which are 100 years old. Hills Media weighed several offers, but chose to go with “a nonprofit organization dedicated to preserving and expanding the local news coverage we provide — in print, on the web and on social media,” states Liz Parker, co-publisher and executive editor.

As soon as Bike hit the brakes, Pocket Outdoor Media CEO Robin Thurston decided he wouldn’t wait around to see if it would resume operations. Instead, he saw a chance to fill that magazine’s void in the marketplace with a new title in POM’s portfolio, so he invited the editorial staff of the now-idle publication to join his company and reimagine what a mountain biking magazine could—and should—be. The result is Beta, a multichannel content platform launched Tuesday, which includes a new quarterly magazine, website, and membership program called Beta Pass (part of Pocket's larger Active Pass platform). Its first print edition is due out in late March, just as the snow begins melting and riders return to dirt singletrack across much of the country.

If you’re a commercial mailer of flats and periodicals, brace yourself. Customers are facing an unexpected and steep increase in USPS mailing rates sometime this summer — even while service standards remain miserably low. The first indication that something was seriously wrong with operations at the USPS came last July, when newly appointed PG Louis DeJoy changed trucking regulations. On-time mail deliveries plummeted. It was so bad that a Washington DC District Court judge ruled they must reverse the changes in October and file daily paperwork with their progress. Now, the Postal Regulatory Commission (PRC) tells us to expect an additional rate increase this summer of anywhere between 5.5% for first-class and up to 7.5% for marketing flats and periodicals. (That’s on top of recent rate changes that went into effect last month.) More at source: https://freeportpress.com/serious-questions-around-the-usps-and-rates/

UPS announced fourth-quarter 2020 consolidated revenue of $24.9 billion, a 21.0% increase over the fourth quarter of 2019. Consolidated average daily volume increased 10.6% year over year. Operating profit was $2.2 billion, up 1.6% compared to last year’s fourth quarter, or 26.0% on an adjusted basis. Net loss was $3.3 billion for the quarter; adjusted net income was $2.3 billion or 26.4% above the same period last year. In the fourth quarter, diluted loss per share was $3.75, compared to a diluted loss per share of $0.12 in the fourth quarter of 2019.

Combined print book and e-book sales hit 942 million units in 2020 at outlets that report to NPD BookScan, a 9% increase over 2019 and the most unit sales recorded in a single year by BookScan since the service was created in 2004. In a webinar held last week, Kristen McLean, executive director of NPD Books, said the gain was due to a combination of strong sales of both print and digital books. Print sales rose 8.2% over 2019, the largest annual increase since 2005, and the print total of 751 million units sold was the highest since 2009, the year before e-books started to become a meaningful part of the book business. E-book unit sales, as measured by NPD’s PubTrack Digital service, rose 12.6% over 2019 and were at their highest level since 2015, when 208 million units were sold (e-book sales figures for November and December are projections).

Book sales are still up following a hot start to 2021. Last week, unit sales of print books jumped 18% over the week ended January 25, 2020, at outlets that report to NPD BookScan. In the prior week, unit sales rose nearly 23% over 2020, resulting in a 22% increase in print sales through January 23 over the comparable period a year ago. Every major category had double digit increases last week. Those jumps were led by the young adult segments, where fiction rose 46.9% and nonfiction increased 48.5%. The top seller in fiction was We Were Liars by E. Lockhart, which sold nearly 15,000 copies, while Stamped by Jason Reynolds and Ibram X. Kendi topped the nonfiction list, selling about 4,100 copies.

Total consolidated revenues increased 44.8 percent, or 271.2 million, to $877.3 million, compared with total consolidated revenues of $605.6 million in the prior year period, driven by ecommerce growth of 59.7 percent including revenue contributions from PersonalizationMall.com (“PMall”), which the Company acquired in August 2020. Excluding the contribution from PMall, total net revenues increased 24.7 percent and e-commerce net revenues increased 34.6 percent compared with the prior year period. Gross profit margin for the quarter increased 100 basis points to 45.4 percent, compared with 44.4 percent in the prior year period. Operating expenses as a percent of total revenues was 28.6 percent, compared with 28.0 percent in the prior year period. Excluding the impacts of the Company’s non-qualified deferred 401k compensation plan and one-time costs primarily associated with its acquisition of PMall, operating expenses, as a percentage of total revenues was 28.3 percent in the quarter. Net income for the quarter increased 53.3 percent, or $39.5 million, to $113.7 million, or $1.71 per diluted share, compared with net income of $74.2 million or $1.12 per diluted share in the prior year period. Adjusted net income for the quarter increased 54.1 percent, or $40.1 million, to $114.2 million, or 41.72 per diluted share.

The Association of American Publishers (AAP) announced today that its Directors have re-elected Brian Napack as Chairman of the Board for the 2021-2022 term, and elected Michael Pietsch as Vice Chairman. Mr. Napack, who is President and CEO of John Wiley & Sons, began his tenure as Chairman in September of 2020. Previously he served as AAP’s Vice Chairman since the beginning of 2020, and as a Board member since 2017. Mr. Pietsch is Chief Executive Officer of Hachette Book Group. He has served on the AAP Board since 2013. In addition, the Board elected Jeremy North, Managing Director for Books publishing at Taylor & Francis, to continue in the role of Treasurer. Rounding out the Board’s Executive Committee is Tim Bozik, President of Global Product and North American Courseware for Pearson, and AAP Chairman from 2019-2020.

Bauer Media UK has added a new monthly magazine to its real-life portfolio from the team behind best-selling women’s weekly, Take a Break. Following its success as a standalone title during 2020, Take a Break Pets today launches as a monthly* title. A must-read for animal lovers, Take a Break Pets is jam-packed with incredible real-life stories about all creatures great and small, top vet and trainer advice, puzzles and prizes. Readers will also enjoy fun quizzes, a pet-friendly recipe section, exclusive discounts, reader brainwaves, four-legged fashion, fiction, heart-warming photos and much more.

Most notably, the Commission: *Completed its review of the current system for regulating rates and classes for Market Dominant products and issued its final rule modifying the existing price cap system *Reviewed and approved the Postal Service’s planned rate adjustments for Market Dominant and Competitive products and new product proposals *Explored important issues in public inquiry dockets related to service performance, the value of the postal and mailbox monopolies, and city carrier costs *Published three reports that (1) reviewed the Postal Services compliance with pricing and service standards, (2) provided an in-depth analysis of the Postal Service’s finances, and (3) evaluated whether the Postal Service met its performance goals as required under the law *Presided over several rulemakings related to Commission processes and activities

The Association of American Publishers (AAP) today released its StatShot report for November 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 November 2020 were up 24.5% as compared to November 2019, coming in at $1.2 billion. Year-to-date sales were flat, with an increase of 0.8% as compared to the first eleven months of 2019, with a total of $13.6 billion.

The Postal Regulatory Commission is pleased to announce that President Joseph R. Biden, Jr. has designated Commissioner Michael M. Kubayanda chairman of the Commission, succeeding Robert G. Taub. “I am grateful for the opportunity to serve as chairman and look forward to serving all Americans, working with my colleagues in the Commission and throughout the Federal government, and connecting with a wide spectrum of stakeholders,” said Chairman Kubayanda. “I would especially like to thank Chairman Taub for his exceptional leadership of the Commission for more than six years. I plan to continue his approach of bipartisanship and collegiality.” Regarding the appointment, former Chairman Taub said, “A hearty congratulations to Chairman Kubayanda upon his designation. Chairman Kubayanda brings a wealth of experience and an enormous skill set to the role of chair. I know he will lead this agency quite well, and he has a great team to support him. It has been a true honor and privilege to serve as the head of the Commission for more than six years. I am proud of the Commission’s accomplishments during this time, which could not have been achieved without our fantastic agency staff. I know the Commission will continue that excellent work under Chairman Kubayanda’s leadership.”

With all major categories posting huge gains, unit sales of print books jumped 22.7% for the week ended Jan. 16, 2021, over the comparable week in 2020, at outlets that report to NPD BookScan. The biggest gains came in the YA categories, with fiction up 47.6% and nonfiction rising 46.9%. The release of Concrete Rose by Angie Thomas, which sold nearly 18,000 copies, helped to lift YA fiction. In YA nonfiction, Stamped by Jason Reynolds and Ibram X. Kendi was the top title, selling more than 4,100 copies. Juvenile fiction sales rose 30.7% over the week ended Jan. 18, 2020, led by Little Blue Truck’s Valentine by Alice Schertle, which sold just over 28,000 copies, and Dav Pilkey’s Cat Kid Comic Club, which sold nearly 22,000 copies. Juvenile nonfiction sales rose 28.8% over 2020. Two educational titles led the way: Crystal Radke’s My First Learn-to-Write Workbook sold more than 7,000 copies, and Big Preschool Workbook sold 6,400 copies. Adult fiction unit sales rose almost 30% over 2020.

Nearly 700 dockworkers at the twin ports of Los Angeles and Long Beach have contracted COVID-19 and hundreds more are taking virus-related leaves, raising fears of a severe slowdown in the region’s multibillion-dollar logistics economy. A growing longshore worker infection rate, which parallels the surge of the virus across California, is exacerbating a massive snarl at the ports due to a pandemic-induced surge in imports. Port executives, union leaders and elected officials are mounting an urgent campaign to initiate dockworker vaccinations, fearing that a labor shortage could force terminal shutdowns. “We’ve got more cargo than we do skilled labor,” said Eugene Seroka, executive director of the Los Angeles port. “We are told 1,800 workers are not going on the job due to COVID right now. That can [include] those who are isolating through contact tracing or awaiting test results. Or maybe [those who] fear ... going on the job when a lot of people are sick.” more at source: https://www.latimes.com/business/story/2021-01-20/covid-surge-hits-la-ports-increasing-need-for-vaccines

FedEx Express announces proposals to resize its European workforce as it nears the completion of the network integration of TNT. These proposals are part of a wider, multi-year growth strategy that enables the European Express business to confidently build on the momentum created in recent years. FedEx acquired TNT in 2016 as part of its European expansion plans, connecting the world’s largest air express network with an unparalleled European road network and global suite of services. Since the acquisition, successful integration has taken place across IT systems and key parts of the air, road and ground networks, and investments have been made in technology and infrastructure. Plans to address the duplication resulting from operating two large European networks connecting similar geographies were presented to European employee representatives and team members today. These proposals will regrettably have a workforce impact of between 5500 - 6300 people across operational teams and back-office functions. In the course of these consultations, the full range of support measures for affected team members will be discussed with works council representatives from across the region. These measures differ by country and may include voluntary redundancy, reassignment to other roles and priority access to open positions. The consultation process will take place over an eighteen-month period in line with local country processes and regulations.

Key highlights for the 12 months: *Group sales declined by 10% and we expect to report adjusted operating profit in the range of £310m-£315m at an average USD:GBP exchange rate of 1.28; with portfolio changes, inflation and the trading impact of COVID-19 partially offset by restructuring savings. *Global Online Learning sales grew 18% due to strong enrolments in new and existing schools in Virtual Schools and good sales growth in Online Program Management (OPM), with growth in continuing programs partially offset by discontinued programs. *Global Assessment sales declined 14%, reflecting the impact of test centre closures during the lockdowns in H1 in Professional Certification, with pent up demand in the second half partly moderated by Q4 lockdowns. Cancellation of Spring testing impacted US Student Assessment and school closures impacted US Clinical Assessment. *North American Courseware declined 13% with US Higher Education Courseware revenue down 12%, with good growth in digital registrations and eBooks and a further decline of higher priced package and print sales. At the end of 2020, over 70% of US Higher Education Courseware revenue was digital. *International declined 19% due to school and test centre closures and the continuing impact of COVID-19 on public and private spending on courseware and assessments.

Key 2020 General Election Performance Statistics: *135 Million Ballots Processed and Delivered. The Postal Service delivered at least 135 million ballots, including both blank ballots delivered from election officials to voters and completed ballots returning from voters to election officials. i *99.89 Percent of Ballots Delivered to Election Officials Within a Week. Overall, 99.89 percent of identified ballots mailed after September 4 were delivered within seven days, consistent with the Postal Service’s recommendation to voters. The overwhelming majority of ballots were delivered in far less time than that. Specifically, based on internal processing scores, 97.9 percent of ballots mailed from voters to election officials were delivered within three days, and 99.7 percent were delivered within five days. click read more below for the rest of the story

“We are pleased to share that the fourth quarter ended with strong Revenue and Adjusted EBITDA performance,” said Michael Reed, Chairman & Chief Executive Officer. “Revenue improvement was primarily driven by a continued rebound in our advertising trends, both print and digital. We also continued to see strong digital-only circulation pro forma revenue performance with an increase of approximately 46% year-over-year. The revenue improvement as well as continued expense management, led to stronger Adjusted EBITDA, and positions us for continued performance improvement in 2021. We reduced $654 million of our 11.5% term loan during the fourth quarter and an additional $30 million subsequent to year end, which brings our total term loan reduction to $684 million. These actions have allowed us to reduce debt outstanding to $1.545 billion, which is ahead of the originally outlined levels that we shared in connection with the acquisition of Gannett Media Corp. in 2019. The reduction of the term loan through debt paydown and refinancing of approximately $500 million into convertible notes has reduced our annual interest expense by $48 million. As we head into 2021, we firmly believe that we will be in a position to refinance the remaining term loan, which will further improve our balance sheet.”

Year-end book sales across Europe were slammed by December lockdowns after Covid-19 cases surged across the continent. Still, preliminary results in three major markets show declines for the full year were modest. In Germany, Europe’s single largest book market, sales were up 25% in the first two weeks of December over 2019, but they plummeted when a new lockdown was imposed on December 16. Overall sales for the year were down 2.3% compared with 2019, according to BUCH, a German book publishing trade group. Bookstores saw sales drop 8.7% for the year, but gains by online booksellers and platforms offset that decline. “It is true that books played an important role for people during the crisis,” said Karin Schmidt-Friderichs, head of the BDB, in a press release. “There was great enthusiasm for reading and demand for books was high for much of the year. But the shutdown in December thwarted the industry’s plans. The renewed store closings in the middle of the Christmas business stopped the race to catch up from lost sales due to the shutdown in spring.”

*Proposes Combination of Consumer-Focused Retail Operations of Office Depot and Staples as More Direct Path to Achieving Synergies for Shareholders of Both Companies, Without Raising Substantial Regulatory Risk *Process for Sale of CompuCom IT Services Business Already Underway as a Result of Strategic Review Announced in November *Reaffirms Focus on B2B Operations and Other Growth Initiatives to Accelerate Value Creation *Notes That Sycamore’s Proposal Does Not Adequately Address Regulatory Risk to Office Depot Shareholders

The European Academy of Allergy and Clinical Immunology (EAACI) and John Wiley & Sons Inc., a global leader in research and education, have expanded their publishing partnership to include EAACI’s official open access journal Clinical and Translational Allergy (CTA) alongside their other publications, Allergy and Pediatric Allergy and Clinical Immunology, as of January 2021. CTA is a fully open access journal, edited by Prof. Jean Bousquet and Dr. Clive Grattan, and provides a dissemination of allergy research and reviews, as well as EAACI position papers, task force reports, and guidelines for an international scientific audience. “We are delighted to extend our collaboration with Wiley to include CTA in 2021. Having all three journals under the same publishing umbrella will allow them to benefit from Wiley's extensive expertise in the publishing process, while at the same time keeping up the high quality of EAACI's scientific content, including the most relevant progress and updates in the field." Tomàs Chivato, EAACI VP Science; Jean Bousquet, CTA Editor-in-Chief; Clive Grattan, CTA Editor-in-Chief.

John Wiley and Sons, Inc. and Iowa State University today announced the signing of a three-year transitional open access agreement, among the first-of-its-kind in the United States. The agreement will advance Iowa State University’s goal to increase open access publishing and expand its open access offerings, allowing peer-reviewed articles to be read and shared immediately, and making important research broadly available. The multi-year agreement, which will run from January 1, 2021 through 2023, will allow the University to accelerate the number of open access articles it publishes, by increasing its publishing funds toward open access articles in Wiley’s hybrid and gold open access journals. This agreement builds on the University’s current partnership with Wiley, which gives faculty, researchers, and students access to Wiley’s leading portfolio of journals.

National Popcorn Day is on January 19! The Popcorn Factory® and Moose Munch® Premium Popcorn are marking the occasion by sharing unique ideas for enjoying one of America’s favorite, go-to snacks. From popcorn aficionados seeking traditional or trendy flavors, to families looking for creative ways to relish the gourmet treat together at home, these brands offer something special for every palate: Ready to explore the world of popcorn flavors? The adventure begins with a broad selection of sweet and savory flavors including cookies & crème, chicken & waffles, bacon cheddar, milk chocolate and salted caramel. These one-of-a-kind, poppin’ flavors will step up everyone’s snacking game.

Unit sales of print books got off to a blazing start in 2021. Sales jumped 19.3% last week over the week ended January 2 at outlets that report to NPD BookScan. Moreover, units were up nearly 25% over the comparable week in 2020. With sales hitting 17.1 million, BookScan said it was the first time in the history of the service unit sales topped 17 million in the first week of January. Early January is always a good time for titles tied to renewal and self-improvement, and those categories did especially well compared to last year. In the nonfiction adult segment, double-digit gains were posted by body, mind, and spirit (up 63%), self-help (ahead 30%), cooking (+22%), and religion (+13%). The new year did not help the travel segment, however, with units tumbling 41%.

During the holiday season, Nordstrom continued to leverage its digital and physical assets to provide a unique breadth of merchandise selection across brands, price points and styles and convenient shopping experiences for customers: *December sales across the Nordstrom and Nordstrom Rack brands reflected sequential improvement from November with momentum continuing into January. *Digital sales grew 23 percent over last year and represented 54 percent of total sales compared with 34 percent from the same period in fiscal 2019. *Approximately 11 percent of Nordstrom.com orders were picked up in-store, which accelerated to more than 20 percent during the week preceding Christmas. *Approximately 9 percent of Nordstromrack.com orders were picked up in-store, which was enabled by the integration of Nordstrom Rack store and online inventory in October. *More than 30 percent of online orders were fulfilled from Nordstrom and Nordstrom Rack stores. *As a result of expanded gifting selection, gifting items made up 67 percent of sales, an increase of 600 basis points from the prior year.

Total Company net sales for the two months ended December 31, 2020, decreased 8.4% over the same period last year. Comparable Retail segment net sales decreased 9% due to negative retail store net sales as stronger conversion rates could not offset the reduced store traffic as a result of the coronavirus pandemic and related 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 1% at Free People and decreased 8% at Urban Outfitters and 12% at the Anthropologie Group. Wholesale segment net sales decreased 1%. For the eleven months ended December 31, 2020, total Company net sales decreased 14.3% over the same period last year. Comparable Retail segment net sales decreased 12%, 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 the digital channel. Wholesale segment net sales decreased 42%. On a personnel note, URBN today announced Trish Donnelly, Chief Executive Officer of the Urban Outfitters Group, will be leaving the Company as of January 31, 2021, to pursue a new career opportunity. We are pleased to announce that Sheila Harrington will become Chief Executive Officer for both Urban Outfitters Group and Free People Group. Additionally, Gabrielle Conforti, currently the Chief Merchandising Officer for the Urban Outfitters brand, has been promoted to President, Urban Outfitters North America, and Emma Wisden will continue as Managing Director, Urban Outfitters Europe, and will lead the Urban Outfitters brand Wholesale business. Both Gabrielle and Emma will report to Sheila.

For the November/December period compared with last year: *Comparable sales grew 17.2 percent, reflecting comparable store sales growth of 4.2 percent and comparable digital sales growth of 102 percent. *Traffic increased 4.3 percent and average ticket increased 12.3 percent. *The company continued to gain market share in all five of its core merchandise categories. Sales growth was strongest in Home and Hardlines. *Sales on same-day services (Order Pick Up, Drive Up and Shipt) grew 193 percent. *Drive Up grew more than 500 percent. *Shipt grew more than 300 percent. *Approximately 95 percent of Target's sales were fulfilled by its stores.

Outsourced marketing execution provider HH Global today announced it has signed an agreement to acquire the Marketing Services division of GBG. The agreement will further strengthen the interactive capabilities of HH Global, following the acquisition of Blueberry Wave in 2019. Existing GBG Marketing Services customers will benefit from the extensive specialist capabilities that HH Global provides. Steve Mattey, Managing Director, Interactive said: “This acquisition strengthens our interactive solutions, supporting our clients’ growing needs for smarter and more advanced marketing execution. We are delighted at the additional marketing technologies and tools this acquisition brings us, as well as the highly skilled team from GBG.” Existing GBG Marketing Services customers will immediately benefit from the extensive specialist capabilities that HH Global provides, across end-to-end marketing execution services.

The ODP Corporation confirmed that it has received a proposal to acquire the Company from USR Parent, Inc., the parent company of Staples and a portfolio company of Sycamore Partners. Consistent with its fiduciary duties, ODP’s Board of Directors is carefully reviewing the proposal in consultation with its financial and legal advisors to determine the course of action that it believes is in the best interests of the Company and its shareholders. As part of its review, the Board is evaluating various components of the proposal, including potential antitrust and other regulatory challenges given USR Parent’s ownership of Staples and past regulatory decisions blocking the combination of the two companies, purchase price, and closing conditionality. The Company noted that, according to its letter to ODP, USR Parent expects the regulatory process to take at least six months.

Bauer Media UK is to add two new magazines to its successful Puzzles portfolio. The company, which already publishes a number of Take a Break puzzles magazines, today launches Bella Puzzles Train Your Brain – a brand extension to Bella, one of the nation’s most popular women’s weekly titles. The monthly title, priced at £2.50, offers 84 pages of challenging puzzles to help train the brain as well as features on mindfulness, well-being and health that will feel familiar to Bella readers. A second standalone title, Bigger Better Puzzles, hits newsstands on Thursday (14 January) and marks Bauer Media UK’s first dedicated large-print mixed puzzle magazine.

Enthusiast magazines Rock and Ice and Climbing, which have been rivals for 36 years, are now one entity. The future merger was announced when Big Stone Publishing was acquired by Pocket Outdoor Media in October 2020. The new combined publication, called Climbing, debuts this spring — but it will be written by the editorial staffs of both magazines. To date, there has been no mention of staff reductions. The future Climbing will include art makeovers and upgrades, as well as more content and higher production values. Editors describe the alliance as “having a partner to help solve an elusive crux, rather than trying to unlock it yourself.”

North Island Media has joined Two Sides North America, the non-profit organization that promotes and encourages the responsible production, use, and sustainability of print, paper, and paper-based packaging. “Two Sides North America welcomes North Island Media as a new member and we look forward to working with them to expand our reach within the Canadian printing industry. Two Sides materials and content cover the sustainability aspects of print and paper in both the US and Canadian markets and are available to member companies in both countries,” said Phil Riebel, Two Sides North America President.

Abercrombie & Fitch Co. provided an update to its fiscal fourth quarter 2020 plan. The company expects: *Net sales to decline in the 5% to 7% range versus plan of down 5% to down 10%, reflecting ongoing digital momentum offset by store closures and capacity restrictions in North America and EMEA. *Gross profit rate to be up at least 130 basis points to last year’s 58.2% versus plan of flat to up slightly, benefiting from reduced depth and breadth of promotions and markdowns relative to plan and to last year. *Operating expense, excluding other operating income, to be down at least 2% from fiscal 2019 adjusted non-GAAP operating expense of $566 million, reflecting savings in store expenses due to closures and the recognition of rent abatements. This compares to plan of up 1% to 2%.

*Total net sales of $148.7 million increased by 3.3% for the 2020 holiday period compared to $143.9 million for last year’s comparable nine-week holiday period ended January 4, 2020 (the “2019 holiday period”). *Total comparable net sales, including both physical stores and e-commerce, increased by 2.7% for the 2020 holiday period compared to a decrease of 2.0% for the 2019 holiday period. Comparable net sales of Footwear, Womens and Mens increased compared to the 2019 holiday period, partially offset by decreases in Boys, Accessories and Girls. *Comparable net sales in physical stores decreased by 12.4% for the 2020 holiday period compared to a decrease of 2.7% during the 2019 holiday period. Comparable net sales in physical stores decreased in all geographic markets during the 2020 holiday period compared to the 2019 holiday period. Net sales in physical stores represented 69.0% of total net sales for the 2020 holiday period compared to 80.5% of total net sales during the 2019 holiday period. *E-commerce net sales increased by 65.2% for the 2020 holiday period compared to an increase of 1.0% during the 2019 holiday period. E-commerce net sales increased across all 50 states during the 2020 holiday period compared to the 2019 holiday period. E-commerce net sales represented 31.0% of total net sales for the 2020 holiday period compared to 19.5% of total net sales during the 2019 holiday period.