Adobe Reports Record Revenue in Q3 Fiscal 2024

Hearst Magazines announced the launch of Premium Print, a strategic initiative that includes a multimillion-dollar investment across its portfolio of more than 25 brands to further strengthen its position in the marketplace and enhance the quality of its print products. The announcement was made by Hearst Magazines Acting President Debi Chirichella and Hearst Magazines Chief Content Officer Kate Lewis. “Our magazines are at the heart of our brands and our business, the foundation of our editorial mission and vision,” Chirichella said. “For the benefit of our audiences and our marketing partners, we’re focused on producing the highest quality print products and providing an outstanding content experience that is engaging on every level.” The additional investment will improve the product of several Hearst Magazines print properties through new, larger formats, higher-quality paper and improved editorial ratios.

Fourth quarter operating results increased primarily due to volume growth and disciplined revenue and portfolio management. These factors were partially offset by costs to support strong demand, increased variable compensation expense, and higher labor rates. Net results include a loss on debt extinguishment of $393 million ($297 million net of tax). FedEx Express fourth quarter operating income more than doubled year over year, driven by exceptional growth in international export and U.S. domestic package services. Operating margin increased 260 basis points (an adjusted 340 basis points; adjusted measures exclude the items listed below for the applicable fiscal year), as improved network optimization and asset utilization enabled profit growth from record fourth quarter volume.

Debi Chirichella has been named president of Hearst Magazines. The announcement was made by Hearst President and CEO Steven R. Swartz. The appointment is effective immediately. Chirichella was named acting president of Hearst Magazines in July and was previously executive vice president and chief financial officer, overseeing strategic financial planning and reporting and international operations. She joined the company in 2011 as senior vice president and chief financial officer. “Debi has been a key part of our Magazine company leadership team for almost a decade and has a very strong command of all aspects of this business,” said Swartz. “She has expertly led the division over the past several months, and we are confident in the future as Debi and her team continue to build on the legacy of our great brands around the world.”