Savvas Learning Company, a next-generation K-12 learning solutions leader, today announced that its SIOP® Model Professional Learning has been adopted by the Colorado Department of Education (CDE) as a state-approved English Learner Professional Development Program. Developed by founding authors, Jana Echevarría, Ph.D., MaryEllen Vogt, Ed.D., and Deborah J. Short, Ph.D., the SIOP® Model instructional framework is proven to be effective for making grade-level content accessible and engaging for English learners (ELs) while simultaneously advancing their academic language development. To better support Colorado students who are English language learners, the CDE’s State Board of Education adopted a new English Learner Professional Learning requirement for educators holding an elementary, math, science, social studies, or English language arts (or any middle-level) endorsement on a professional license.

Two Iowa newspapers, The Dubuque Telegraph Herald and Cedar Rapids Gazette have announced that would reduce their print schedules to three days a week. The Telegraph Herald will reduce its print schedule from six days a week to three: Wednesday, Friday and Saturday, starting on Feb. 15. The Gazette will cut its print schedule seven days a week to three: Wednesday, Saturday and Sunday. It starts on Feb. 17. The two Iowa papers blamed the evolving news landscape and the shift by readers to digital for the change.

Savvas Learning Company, a next-generation K-12 learning solutions leader, is excited to announce that its enVision Mathematics South Carolina program for Grades K-5 has been approved by the South Carolina State Board of Education (SBE) for inclusion on the new list of state-adopted high-quality instructional materials (HQIM). The award-winning enVision Mathematics program provides evidence-based, standards-aligned content, combined with personalized adaptive learning, to help all students develop deep conceptual math understanding, procedural skills, and fluency. In addition to enVision, the South Carolina SBE also approved Experience Math K-5, another math program by Savvas. A student-centered program that engages students through exploration and a hands-on learning approach, Experience Math K-5 also supports teachers with high-value, in-the-moment professional learning to create collaborative classrooms.

Savvas Learning Company, a next-generation K-12 learning solutions leader, is proud to announce that it has been named to the 2025 edition of the GSV 150, an annual list of the top 150 private companies transforming digital learning and workforce skills. This is the third year in a row that Savvas has been named to the GSV 150. “Savvas has long been a leader in utilizing adaptive technology to provide students with deeply personalized learning experiences,” said Bethlam Forsa, CEO of Savvas Learning Company. “Advances in artificial intelligence are allowing us today to offer even greater personalized learning for students and enhanced support for educators in ways not previously possible. To be named to the GSV 150 is truly an honor, especially for three years running, as it recognizes our commitment to using technology to transform the K-12 teaching and learning experience.”

Nordstrom, Inc. announced a total Company net sales increase of 4.9 percent and a comparable sales increase of 5.8 percent for the nine-week holiday period ended January 4, 2025, compared with the nine weeks ended December 30, 2023. For the Nordstrom banner, net sales increased 3.7 percent and comparable sales increased 6.5 percent, while Nordstrom Rack banner net sales increased 7.4 percent and comparable sales increased 4.3 percent. "As a result of our efforts to remain competitive in the promotional environment and the strength of our offering, our holiday sales in November and December exceeded the expectations we shared during our most recent earnings call," said Erik Nordstrom, chief executive officer of Nordstrom, Inc. "For the full year, we're raising our topline outlook and reaffirming our profitability guidance." Based on holiday results, the Company has updated its fiscal 2024 outlook. The Company now expects revenue growth, including retail sales and credit card revenues, of 1.5 to 2.5 percent versus the 53-week fiscal 2023, which includes an approximately 135 basis point unfavorable impact from the 53rd week, compared with its prior outlook of flat to 1.0 percent growth. Additionally, the Company expects comparable sales growth of 2.5 to 3.5 percent versus 52 weeks in fiscal 2023, compared with its prior outlook of 1.0 to 2.0 percent growth.

Macy’s, Inc. go-forward business achieved quarter-to-date1 comparable sales2 growth, with Macy’s First 50 locations and luxury nameplates Bloomingdale’s and Bluemercury all continuing their trend of positive comparable sales2 . Macy’s digital channel also achieved comparable sales2 growth for the period1 . Macy’s, Inc. comparable sales2 were roughly flat quarter-to-date1 with Macy’s non-First 50 locations, inclusive of non-go-forward locations, performing below expectations and generating negative comparable sales2 . The company expects fourth quarter 2024 adjusted diluted earnings per share to be in-line with the previously issued range of $1.40 to $1.65 and net sales to be at, to slightly below, the low-end of the previously issued range of $7.8 billion to $8.0 billion.

Though unit sales of print books rose by less than 1% in 2024 over 2023, it was the first annual increase in three years at outlets that report to Circana BookScan. Unit sales totaled 782.7 million in the year ended Dec. 28, 2024, compared to 778.3 million in 2023. While 2024 sales were down from the 839.7 million units sold in the peak year of 2021, the figure was higher than the 759.6 million print copies sold in 2020, the first year of the pandemic. In 2024, sales gradually improved over the course of the year and saw a 1.6% increase in the fourth quarter. For the full year, the sales performance followed a familiar path, as adult fiction was once again the driver, with units rising 4.8%. Fantasy had the biggest increase in the adult segment, up 35.8%.

The Association of American Publishers today welcomed the release of the 2024 Review of Notorious Markets for Counterfeiting and Piracy by the Office of the U.S. Trade Representative (USTR). The Notorious Markets List highlights online and physical markets around the world engaged in industrial-scale copyright infringement and counterfeiting, which adversely impacts the interests of U.S. publishers, authors, and other rights holders. “This annual report is a critically important tool for identifying online sites and marketplaces that traffic in infringing copies of books and journal articles,” said Lui Simpson, Executive Vice President for Global Policy at AAP. “On behalf of publishers we thank USTR for their work in protecting the intellectual property of publishers and authors, whose livelihoods directly depend on the protection and enforcement of their rights,”

“The results of our first quarter signal a positive start to the 2025 fiscal year and demonstrate meaningful progress, with total revenue growing compared to this time last year,” said Andrew MacLeod, Postmedia President and Chief Executive Officer. “I am particularly encouraged by the trajectory of our advertising revenue stream, which is showing positive year-over-year growth. This, combined with strong performance in our circulation and parcel divisions, reflects the successful execution of our strategic initiatives and the increasing value we deliver to our partners,” said MacLeod. “As we move forward, we remain focused on sustainable growth and operational excellence across all our business segments.” Revenue for the quarter was $110.3 million as compared to $104.6 million in the same period in the prior year, representing an increase of $5.7 million (5.4%). Total operating expenses excluding depreciation, amortization and restructuring increased $6.1 million, or 6.1%, for the quarter ended November 30, 2024, relative to the same period in the prior year. Operating income before depreciation, amortization and restructuring in the quarter was $5.5 million, a decrease of $0.4 million relative to the same period in the prior year. Net loss in the quarter ended November 30, 2024 was $24.5 million, as compared to a net loss of $10.6 million in the same period in the prior year.

The union representing 45,000 dock workers on the U.S. East and Gulf Coasts and their employers on Wednesday said they reached a tentative deal on a new six-year contract, averting further strikes that could have snarled supply chains and taken a toll on the U.S. economy. The International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) employer group, in a joint statement, called the agreement a "win-win." The deal includes a resolution in automation, which had been the thorniest issue of on the table. "This agreement protects current ILA jobs and establishes a framework for implementing technologies that will create more jobs while modernizing East and Gulf coast ports – making them safer and more efficient, and creating the capacity they need to keep our supply chains strong," the groups said.

Costco Wholesale Corporation reported net sales of $27.52 billion for the retail month of December, the five weeks ended January 5, 2025, an increase of 9.9 percent from $25.03 billion last year. Net sales for the first eighteen weeks were $94.04 billion, an increase of 8.0 percent from $87.07 billion last year.

Adobe released online shopping data for the 2024 holiday season, covering the period from Nov. 1 through Dec. 31, 2024. Based on Adobe Analytics data, the analysis provides the most comprehensive view into U.S. e-commerce by analyzing commerce transactions online, covering over 1 trillion visits to U.S. retail sites, 100 million SKUs and 18 product categories. Adobe Analytics is part of Adobe Experience Cloud, relied upon by the majority of the top 100 internet retailers in the U.S.* to deliver, measure and personalize shopping experiences online. Consumers spent $241.4 billion online from Nov. 1 to Dec. 31, up 8.7% year-over-year (YoY) and setting a new record for e-commerce. 15 days saw consumers spend more than $4 billion in a single day (up from 11 days in 2023). Mobile shopping hit a new milestone, with the majority of online transactions (54.5%) taking place through a smartphone this season (up from 51.1% in 2023); Mobile shopping was highest on Christmas Day (Dec. 25), driving 65% of online sales (63% in 2023).

Wiley continues to expand the reach of its medical education programs through a new partnership with M3 Digital Communications. This new partnership will enable Wiley's medical education programs to reach a larger target audience of Japanese medical professionals. M3 Digital Communications is part of the M3 Group Japan, which operates m3.com, one of the largest dedicated healthcare professional sites in Japan, with over 90% of Japanese physicians registered. The company contributes to the medical industry through integrated digital marketing services, including live streaming, websites, video content, and social media. As a result of this new partnership, Wiley and M3 Digital Communications will jointly create and distribute new medical content that meets the information needs of Japanese healthcare professionals.

HarperCollins Holland today announced it has agreed to acquire the lifestyle imprints Altamira, Becht, Dominicus, and Hollandia, along with associated personnel, from publisher Gottmer Uitgevers Groep (Gottmer), effective March 1, 2025. The acquisition will further expand HarperCollins Holland’s fast-growing position in the trade book market in the Netherlands and Belgium. The acquired imprints—part of Gottmer based in Haarlem—have more than 125 years of publishing history. They hold leading positions in their respective markets, with successful bestselling authors, a strong content pool, and exceptional brand awareness. As part of the deal, Vaarbewijs Academy, a boating license training platform, will also join the HarperCollins Holland portfolio.

Eagle Valley Publishing has acquired the Nevada Appeal, The Record-Courier, the Lahontan Valley News and Northern Nevada Business Weekly from Pacific Publishing Company. The terms were not disclosed. The publications will be operated by Nevada News Group, a division of Eagle Valley Publishing, according to the Nevada Appeal. The 29 employees in the group will continue with Eagle Valley Publishing. Eagle Valley Publishing was founded in 2023 by Adam Trumble, the editor of the Appeal and current operations director for the publications.

S&P Global (NYSE: SPGI) today announced that it has acquired ProntoNLP, a leading provider of Generative Artificial Intelligence (GenAI) tooling, allowing users to derive differentiated insights from unstructured and structured data. ProntoNLP’s proprietary models and LLM-based signal tools will bolster S&P Global’s textual data analytics capabilities. Founded in 2021, ProntoNLP utilizes proprietary natural language processing (NLP) capabilities coupled with large language models (LLMs) for fast, efficient and deep analysis of unstructured financial data at scale. Powered by artificial intelligence (AI), the company offers a set of customizable solutions for event detection and sentiment scoring. ProntoNLP will be integrated within the S&P Global Market Intelligence division of S&P Global, and its intellectual property is expected to power broader enterprise-wide applications.

Jerry Cheatham, a 36-year finance leader within Sonoco, has been named interim Chief Financial Officer, replacing Chief Financial Officer Rob Dillard, who has departed the Company. Mr. Cheatham has been Vice President of Global Finance for the Company’s Industrial Paper Packaging segment since December 2022 and previously served in several finance and accounting leadership roles since joining the Company in 1988. Mr. Cheatham holds a BS degree in Accounting from South Carolina State University and an EMBA from Vanderbilt University. The Company is undergoing a retained search for internal and external candidates to identify and select a permanent Chief Financial Officer. “Jerry is a trusted and respected leader within Sonoco who brings strong financial and operational expertise into this role. He will ensure an orderly transition of duties and provide further stability to our global finance organization,” said Howard Coker, President and Chief Executive Officer. “I want to thank Rob for his contributions since joining the Company in 2018, and for helping to build our current finance team and focusing our strategy to transform Sonoco into a global leader in sustainable metal and fiber packaging through several significant transactions, including the acquisitions of Eviosys and Ball Metalpack and the recently announced divestiture of our Thermoformed and Flexible Packaging (TFP) business to Toppan Holdings. We wish him all the best in his future professional and personal endeavors.”

Our corrugated manufacturing facility has expanded its capabilities to provide even more options for sustainable, innovative, and customer-focused packaging solutions that protect products and improve supply chain efficiency. Here are some of the benefits our customers can expect from these changes: *Located just outside of Charleston, South Carolina, our corrugated plant exists to help our customers succeed with some of the best production lead times in the market. *Whether it’s designing for multiple SKUs or creating multi-component packaging with interior forms, we deliver unmatched value. *Our hybrid business model strikes the perfect balance between packaging distribution and value-added manufacturing — representing 30% of our revenue. *From regular slotted containers to jumbo boxes and retail displays, we tailor each solution to meet your specifications with efficiency, flexibility, and superior care.

Inteplast Engineered Films (IEF), manufacturer of blown polyethylene (PE) films, and Bison Bag, a New York-based flexible packaging converter, have developed a comprehensive portfolio of store drop-off recyclable flexible packaging solutions. The stand-up pouches align with brand owners’ sustainable packaging goals and satisfy the increasing demands of end users for more recyclable options. Bob Stein, president of Inteplast Engineered Films, said that IEF is focused on taking a leadership role in developing sustainable packaging solutions for some time. “Through projects with suppliers, other Inteplast businesses, and development partners like Bison Bag, IEF has long recognized the exciting opportunity to be a real innovator in the emerging sustainable packaging space. Several years ago, we made it a main objective for our technical and sales teams to focus on how we can better support the shift toward recyclable flexible packaging,” said Stein. “What started as a collaboration incorporating recycled content for a large retailer eventually evolved into our full InteGreen™ family of sustainable films. Today, we’re proud to be a leader in the space.”

Contract talks covering 45,000 dockworkers on the U.S. East and Gulf Coasts are set to restart on Tuesday in a labor dispute that will help set the pace of automation at ports stretching from Maine to Texas. The International Longshoremen’s Association wants to eliminate past labor contract concessions on automation – notably the use of semi-automated cranes that stack containers on docks – arguing they pose a threat to jobs. If the two sides do not reach a deal by Jan. 15, workers at container ports that handle more than half of U.S. ocean imports could start a strike just days before President-elect Donald Trump’s Jan. 20 inauguration.

Gannett Co., Inc. and Reuters announced an agreement to provide media brands and publishers with a unique offering that includes ready-to-publish local, regional, state, national and international multimedia news and content. The new offering will combine Reuters extensive national and international coverage with Gannett’s USA TODAY Network coverage of local news from more than 200 publications across the country. This enables media companies to focus their efforts on the stories that matter most to their communities, while relying on Reuters and the USA TODAY Network for relevant content including breaking news, entertainment, sports and lifestyle coverage. This collaboration offers an innovative product that addresses the evolving needs of media brands leveraging USA TODAY Network’s extensive national reach and Reuters unparalleled national and international coverage. The collaboration delivers an unbiased and impartial news offering from Reuters, with USA TODAY and the USA TODAY Network’s extensive coverage on diverse topics from local communities, delivered in a single news feed.

The Postal Regulatory Commission voted unanimously to designate Commissioner Robert G. Taub as vice chairman of the Commission effective January 1, 2025, succeeding Commissioner Tom Day. Agency regulations provide that the commissioners elect a member to serve as vice chairman for a term of one year. Robert G. Taub was chairman of the Commission for more than 6 years, from December 2014 until January 2021. Three times appointed to the Commission following unanimous confirmations by the U.S. Senate in 2011, 2016, and 2023, Commissioner Taub has more than 40 years of public service experience at the local, state, and federal levels. Before joining the Commission in October 2011, he was a principal civilian advisor to the Secretary of the Army John M. McHugh. As an Army senior executive, he helped the Secretary lead a workforce of more than 1.2 million people and manage an annual budget exceeding $200 billion. Commissioner Taub was awarded the Army's Decoration for Distinguished Civilian Service.

Maersk is sending a message to customers ahead of a possible second strike at the East and Gulf Coast ports—pick up your cargo before Jan. 15. The container shipping giant said in a Tuesday advisory that it strongly encourages customers to retrieve their loaded containers from the ports ahead of the contract expiration date, as well as return all empty containers to the gateways. “This proactive measure will help mitigate any potential disruptions at the terminals,” said Maersk in the update. “Our teams are actively developing contingency plans to minimize the impact should a labor disruption occur. “ The International Longshoremen’s Association (ILA) has maintained that it will go on strike for a second time in more than three months after walking away from negotiations in November. The ILA went on strike for three days from Oct. 1-3 before coming to an agreement on a 61.5 percent wage increase spread over six years.

The Ainsworth (Nebraska) Star-Journal has been saved by a last-minute purchase that the co-owner Rod Worrell calls a “Christmas miracle.” The paper is being taken over by a group that includes local radio station owner Graig Kinzie and Clint and Katie Painter, who own a car dealership in Ainsworth, the Nebraska Examiner reports. Also in the group are Kirk and Chelsea Peterson, Kinzie was preparing to assume ownership of the paper, but couldn’t find anyone to run it in the tight labor market. But the Painters came forward and said their daughter Erin is returning to town and is interested in doing the job.

The US District Court for the Western District of Arkansas today declared Arkansas Act 372 unconstitutional in an opinion indicating that the law is overbroad and void for vagueness, and permanently enjoined its enforcement. The Arkansas law would have subjected librarians and bookstore owners to criminal prosecution for making materials available on library and bookstore shelves that could be deemed harmful to younger minors and conceivably available for younger minors to view, and mandated a library book challenge procedure in public libraries whereby individuals may challenge books based on “appropriateness” (an undefined term not based on constitutional standards). In addition, review boards would have been allowed or even invited to engage in viewpoint and content-based discrimination. The ruling came in response to the suit filed by a coalition of plaintiffs that included local Arkansas libraries, as well as authors, publishers, booksellers, librarians, and readers.

Nordstrom, Inc. announced it has signed a definitive agreement under which Erik, Pete, Jamie Nordstrom and other members of the Nordstrom family and El Puerto de Liverpool, S.A.B. de C.V. will acquire all of the outstanding common shares of Nordstrom not already beneficially owned by the Nordstrom Family and Liverpool in an all-cash transaction valued at approximately $6.25 billion on an enterprise basis. Following the close of the transaction, the Nordstrom Family will have a majority ownership stake in the Company. Under the terms of the agreement, Nordstrom common shareholders will receive $24.25 in cash for each share of Nordstrom common stock they hold. The merger consideration represents a premium of approximately 42% to the Company's unaffected closing common stock price on March 18, 2024, the last trading day prior to media speculation regarding a potential transaction. In addition, the Board intends to authorize a special dividend of up to $0.25 per share (based on Nordstrom's cash on hand) immediately prior to and contingent on the close of the transaction. Upon completion of the transaction, Nordstrom will become a private company.

Foxtel, which has transformed into a digital and streaming leader in sports and entertainment content under News Corp management, will join DAZN, a global provider of sports streaming, giving international exposure to Australian sport, while bringing Australian sports fans greater access to programming from across the globe. Under the terms of the agreement, shareholder loans in the amount of A$578 million outstanding and owing to News Corp will be repaid in full in cash at closing. Foxtel’s current debt will be refinanced at closing and transfer with Foxtel, and News Corp will hold a minority equity interest in DAZN of approximately 6% as well as one seat on its Board of Directors. Telstra Group Ltd (“Telstra”) will also sell its minority interest in Foxtel, have its shareholder loans of A$128 million repaid, and take a minority stake in DAZN of approximately 3%. The proposed transaction values Foxtel at an enterprise value of A$3.4 billion, representing more than 7x fiscal 2024 Foxtel EBITDA.

The purchase could be finalized in January. “At Hearst Connecticut Media Group, we recognize the Republican-American as a pillar of journalistic excellence and a vital voice for the communities it serves,” says Mike DeLuca, group publisher and president of Hearst Connecticut Media Group. DeLuca continues, “We are committed to preserving the rich legacy of the Republican-American while enhancing its reach and resources for the benefit of readers and advertisers across Connecticut.”

“Our second quarter results demonstrate that our efforts to transform our operations are working. The Federal Express segment delivered operating profit growth despite several headwinds, including the continued weak U.S. domestic demand environment as well as the expiration of our U.S. Postal Service contract,” said Raj Subramaniam, FedEx Corp. president and chief executive officer. “I am proud of the team for continuing to deliver solid service to our customers throughout the Peak season, as we create a more flexible, efficient, and intelligent network.” Consolidated operating results were negatively affected by lower-than-expected FedEx Freight revenue and profit, as sustained weakness in U.S. industrial production continued to pressure less-than-truckload industry demand. The lower FedEx Freight results were mostly offset by cost reduction benefits at Federal Express from DRIVE program initiatives and higher base yields at each transportation segment.

Total revenues across all categories for October 2024 were up 8.3% as compared to October 2023, coming in at $1.4 billion. Year-to-date revenues were up 7.1%, at $12.1 billion for the first ten months of the year. Trade (Consumer Books) revenues were up 7.3% in October at $1.1 billion. In terms of physical paper format revenues during the month of October, in the Trade (Consumer Books) category, Hardback revenues were up 8.8%, coming in at $487.9 million; Paperbacks were up 6.2%, with $321.4 million in revenue; Mass Market was up 11.7% to $10.1 million; and Special Bindings were up 1.5%, with $27.2 million in revenue. Year-to-date Trade revenues were up 6.9% at $7.9 billion for the first ten months of the year. Hardback revenues were up 7.5%, coming in at $2.9 billion; Paperbacks were up 3.8%, with $2.7 billion in revenue; Mass Market was down 16.2% to $101.1 million; and Special Bindings were up 4.3%, with $187.4 million in revenue.

McClatchy has completed its merger with accelerate360 and formed a new entity called McClatchy Media Company (MMC), which it claims reaches 100 million unique visitors per month. Announced in August, the merger combines McClatchy's 30 news products, including The Miami Herald, The Kansas City Star, The Sacramento Bee and the Fort Worth Star-Telegram, and accelerate360's lifestyle brands such as Us Weekly, Woman's World and Soap Opera Digest. “The combination creates many opportunities to leverage our digital platform at scale, provide additional original content offerings to consumers, and targeted audience access to our marketing partners,” says Tony Hunter, chairman and chief executive officer of MMC.

Torstar, Postmedia, The Globe and Mail, The Canadian Press, and CBC/Radio-Canada filed a legal action against OpenAI. News media companies invest hundreds of millions of dollars into reporting Canadians’ critical stories, undertaking investigations and original reporting, and distributing media in both official languages in every province and territory across this country. The content that Canadian news media companies produce is fact-checked, sourced and reliable, producing trusted news and information by, for, and about Canadians. This requires significant investment, and the content produced by news media companies is copyrighted. News Media Companies welcome technological innovations. However, all participants must follow the law, and any use of intellectual property must be on fair terms.

Net sales for the first quarter increased 7.5 percent, to $60.99 billion from $56.72 billion last year. Net income for the quarter was $1,798 million, $4.04 per diluted share, compared to $1,589 million, $3.58 per diluted share, last year. This year’s results included a tax benefit of $100 million, $0.22 per diluted share, related to stock-based compensation. Last year’s results included a tax benefit of $44 million, $0.10 per diluted share, also related to stock-based compensation. Costco currently operates 897 warehouses, including 617 in the United States and Puerto Rico, 109 in Canada, 41 in Mexico, 36 in Japan, 29 in the United Kingdom, 19 in Korea, 15 in Australia, 14 in Taiwan, seven in China, five in Spain, two in France, and one each in Iceland, New Zealand and Sweden. Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan and Australia.

With two weeks remaining before Christmas Day (Wednesday, Dec. 25), the U. S. Postal Service today reports exceptional service performance during the peak holiday rush and expects continued success throughout the season, including the busiest week of the year — the week just before Christmas. Through the substantial progress the Postal Service has made under its 10-year Delivering for America plan — a $40 billion investment aimed at modernizing and reinvigorating the organization — USPS has met the challenge of the year’s peak surge in mail and package volume with expanded processing capabilities, optimized transportation strategies, enhanced operational precision and the dedication of more than 640,000 employees nationwide. The continued transformation of the Postal Service has led to significant cost savings, increased service reliability and enhanced service performance. Currently, 98 percent of the nation’s population receives their mail and packages in an average of 2.6 days.

Hearst Magazines today announced the acquisition of MotorTrend Group, a Warner Bros. Discovery business, comprised of MotorTrend and a diversified portfolio of automotive digital, direct-to-consumer, social, print and live-event brands. The announcement was made by Steven R. Swartz, president and CEO of Hearst; Debi Chirichella, president of Hearst Magazines; and Alex Wellen, CEO and president of MotorTrend Group, whose auto-focused brands include MotorTrend, Hot Rod, Roadkill, Automobile, among others. Terms were not disclosed. MotorTrend Group will expand Hearst’s collection of brands for car enthusiasts and buyers providing even more up-to-the-minute content, commerce and community. MotorTrend Group’s vast portfolio embodies car culture from electric vehicles to timeless classic customs, reaching over 30 million users every month. Its robust events business draws approximately 500,000 passionate enthusiasts every year to iconic experiences such as HOT ROD Drag Week, Roadkill Nights and the Japanese Automotive Invitational at Pebble Beach.

“Adobe delivered record FY24 revenue, demonstrating strong demand and the mission-critical role Creative Cloud, Document Cloud and Experience Cloud play in fueling the AI economy,” said Shantanu Narayen, chair and CEO, Adobe. “Our highly differentiated technology platforms, rapid pace of innovation, diversified go-to-market and the integration of our clouds position us for a great year ahead.” “Adobe drove FY24 records of $21.51 billion in revenue, $8.06 billion in cash flows from operations and $19.96 billion in RPO,” said Dan Durn, executive vice president and CFO, Adobe. “Adobe’s strategy, AI innovation and massive cross-cloud opportunity position us well for 2025 and beyond.”

Good morning, Chairman Comer, Ranking Member Raskin, and Members of the Committee. I appreciate the opportunity to once again discuss the significant progress the U.S. Postal Service is making in accomplishing the objectives identified in the Delivering for America plan. When I agreed to take on the role as Postmaster General, the nation was in the beginning of a pandemic and the Postal Service was in an organizational crisis, facing a diverse array of challenges that put the organization on an accelerating and near-term trajectory to financial and service collapse. The Postal Service had lost almost $90 billion, was projected to lose another $200 billion over the next 10 years and was about to run out of cash before the year end.

Box, Inc., the leading Intelligent Content Management platform and Adobe announced a partnership that will redefine how digital media is managed, created and shared in the enterprise. Adobe Express will be generally available as the default image editor in Box, empowering every Box user to easily create more engaging content without leaving Box’s secure platform. Adobe Express brings the best of Adobe’s industry-leading creative tools into an app everyone can use. Features in Adobe Express powered by Adobe Firefly generative AI are designed to be safe for business so enterprises can deploy them broadly – with confidence. With the new capabilities generally available through the Adobe Express integration, Box enterprise customers will have the ability to empower millions of individuals and teams to create the content they need for their jobs quickly and easily. Using the Adobe Express integration in Box, marketers can edit images for their next campaign, HR teams can customize compelling training content, and sales teams can develop high-impact content for their next pitch – all within their secure Box workflows, enhancing Box’s Intelligent Content Management solution.

Third Quarter Highlights: *Macy’s First 50 locations delivered third consecutive quarter of comparable sales growth, up 1.9%. *Bloomingdale’s reported comparable sales growth of owned and owned-plus-licensed-plus-marketplace of 1.0% and 3.2%, respectively. *Bluemercury reported comparable sales growth of 3.3%. “Our third quarter results reflect the positive momentum we are building through our Bold New Chapter strategy,” said Tony Spring, chairman and chief executive officer of Macy’s, Inc. “We are encouraged by the consistent sales growth in our Macy's First 50 locations and the strong performance of Bloomingdale's and Bluemercury. Quarter-to-date, comparable sales continue to trend ahead of third quarter levels across the portfolio. Looking ahead, we remain committed to achieving sustainable, profitable growth for Macy’s, Inc.”

*High-single digit revenue growth in Learning from favorable market conditions and AI licensing. *Low single digit revenue growth in Research from solid demand to publish and modest improvement in Research Solutions offsetting a large year-over-year swing in legacy print and licensing revenue. *Continued strong margin improvement and EPS growth. *GAAP Results: Revenue of $427 million vs. $493 million in prior year due to foregone revenue from divested businesses, Operating Income of $64 million (+39%). “ Continuous improvement is a way of life for us now, and it’s beginning to pay off in our quality growth and margin expansion,” said Matthew Kissner, Wiley President and CEO. “Learning has had a good year so far, both Academic and Professional, and Research delivered low-single digit growth with leading indicators and favorable comparisons signaling a better second half ahead. Additionally, we continue to see interest from tech companies and other corporate LLM developers for our high-value content and data to train and commercialize AI models.”

The Association of American Publishers announced the final resolution of Hachette Book Group v. Internet Archive, after Internet Archive declined to file a cert petition with the U.S. Supreme Court by the December 3, 2024 deadline. We are pleased that the Second Circuit’s September 4, 2024 opinion stands as the eloquent legal ending to this case, as it draws extensively on Supreme Court precedent and will be broadly impactful to other controversies, including artificial intelligence cases. “After five years of litigation, we are thrilled to see this important case rest with the decisive opinion of the Second Circuit, which leaves no room for arguments that ‘controlled digital lending’ is anything more than infringement, whether performed by commercial or noncommercial actors, or aimed at authorship that is creative or factual in nature. As the Court recognized, the public interest—and the progress of art and science that is the mandate of the Constitution’s copyright clause—is served best when authors and their publisher licensees can decide the terms on which they make their works available. We are indebted to Hachette, HarperCollins, Penguin Random House, Wiley, their authors, and the many amici in this case who stood up for copyright, without which we would be a less inspired and less informed society.”

Savvas Learning Company, a next-generation K-12 learning solutions leader, is pleased to announce that its Texas myView Literacy has been approved by the Texas State Board of Education (SBOE) for inclusion on the state’s new list of high-quality instructional materials (HQIM) for K-5 English language arts and reading and Spanish language arts and reading. Combining powerful Science of Reading-based instruction with engaging student-centered practice opportunities, Texas myView Literacy is a full-subject (core), evidence-based instructional program for grades K–5 designed to develop strong readers and writers. Savvas developed its Texas-specific myView Literacy, which is also available in Spanish as miVisión Lectura, to support educators and improve student academic outcomes while also aligning with all of the state’s educational standards, known as the Texas Essential Knowledge and Skills (TEKS) with phonics components included.

Savvas Learning Company, a next-generation K-12 learning solutions leader, today released findings from its first annual Savvas Educator Index, revealing administrators are more optimistic than teachers about the future of the teaching profession, student motivation, and the role of AI in the classroom. However, the national survey also shows agreement among educators on solutions to close the optimism gap and enhance student success. The 2024 Savvas Educator Index is designed to understand educators’ perspectives on key issues shaping K-12 education today. Its findings reflect insights from a nationwide survey of more than 1,600 K-12 educators, including teachers as well as school and district administrators.

The British Columbia Maritime Employers Association has locked out more than 700 supervisors at ports throughout British Columbia. At the same time, a strike at the Port of Montreal, the biggest port in eastern Canada, continues to cause problems. The strike has already led to partial closures, affecting 40% of the port’s container traffic. Shipping delays could quickly add up, potentially disrupting important international shipments and creating significant economic challenges for global businesses and consumers. The West Coast ports are essential, managing about $576 million in daily trade and serving as a key part of North America’s ports, railroads, and trucking network. However, a long-lasting strike could seriously disrupt this system, causing problems across the supply chain.

Cyber Monday 2024 results overtook totals from the same day in 2023 to reach the highest U.S. online sales for any day historically, once again beating projections, according to Adobe Analytics data. Adobe Analytics had projected U.S. consumers would spend $13.2 billion online on Cyber Monday 2024, which already would have been a record. Then, consumers exceeded that by $100 million, spending $13.3 billion on Cyber Monday this year. That’s 7.3% more than they spent in 2023.

The United States Postal Service released its 2024 Post-Election Analysis Report, outlining the agency's steps to process more than 99.22 million ballots in the 2024 general election. The full report can be read here: 2024 Post-Election Analysis Report. “In 2024, the Postal Service once again admirably performed our role of efficiently and effectively delivering the nation’s ballots,” said Postmaster General Louis DeJoy. “As we continue to transform the nation’s postal network to better meet the demands of the modern mailing and shipping customer, we stand ready to work with policymakers at all levels to make the nation’s effective vote by mail process even stronger.” The Postal Service’s success in 2024 was the result of a deepened focus on operational precision and integrated communications, the engagement of the USPS Election and Government Mail Services team and execution of longstanding, proven operational processes and procedures, including extraordinary measures.

The Postal Regulatory Commission will conduct a hearing at PRC offices on December 4, 2024, at 10 am regarding planned changes to the Postal Service’s processing and transportation networks. Docket No. N2024-1. The hearing will also be streamed for persons interested in remote viewing of the hearing. Information on attending the hearing and registration deadlines, is provided below and in the Commission’s filing at: https://prc.arkcase.com/api/prc-dockets/filing/downloadFile?fileId=226594&inline=true In-person attendance: 901 New York Avenue, Suite 200. Washington, DC 20236. Remote viewing: www.youtube.com/@thepostalregulatorycommiss9709. Reporters and media outlets should rsvp to Gail Adams at: gail.adams@prc.gov. Registration deadline: The deadline to register for attendance is December 2, 2024.

Urban Outfitters, Inc. announced record third quarter net income of $102.9 million and earnings per diluted share of $1.10 for the three months ended October 31, 2024. For the nine months ended October 31, 2024, net income was $282.2 million and earnings per diluted share were $2.99. Total Company net sales for the three months ended October 31, 2024, increased 6.3% to a record $1.36 billion. Total Retail segment net sales increased 3.2%, with comparable Retail segment net sales increasing 1.5%. The increase in Retail segment comparable net sales was driven by low single-digit positive growth in both digital channel sales and retail store sales. Comparable Retail segment net sales increased 5.8% at Anthropologie and 5.3% at Free People and decreased 8.9% at Urban Outfitters. Nuuly segment net sales increased by 48.4% primarily driven by a 51% increase in average active subscribers in the current quarter versus the prior year quarter.

Nordstrom, Inc. reported third quarter net earnings of $46 million, or earnings per diluted share of $0.27, and earnings before interest and taxes of $83 million. Excluding a charge related to accelerated technology depreciation, the Company reported adjusted EBIT of $97 million and adjusted EPS of $0.33.[1] For the third quarter ended November 2, 2024, net sales increased 4.6 percent versus the same period in fiscal 2023, and total Company comparable sales increased 4.0 percent. Gross merchandise value increased 5.3 percent. Anniversary Sale timing, with one week shifting from the third quarter to the second quarter, had a negative impact of approximately 100 basis points on net sales compared with 2023. During the quarter, Nordstrom banner net sales increased 1.3 percent and comparable sales increased 4.0 percent. Net sales for Nordstrom Rack increased 10.6 percent and comparable sales increased 3.9 percent. "The continued sales growth across the company and strong gross margin in the third quarter indicate our team's focus and efforts are working," said Erik Nordstrom, chief executive officer of Nordstrom, Inc. "Our customers have a lot of choices, and our results give us encouragement that we're on the right path. Looking ahead, we'll continue to improve our shopping experience as we strive to maintain the positive momentum we've worked towards all year."

The Association of American Publishers (AAP) released its StatShot report for September 2024 reflecting reported revenue for Trade (Consumer Books), Religious Presses, Higher Education Course Materials, and Professional Publishing. Total revenues across all categories for September 2024 were up 2.4% as compared to September 2023, coming in at $1.5 billion. Year-to-date revenues were up 7.0%, at $10.8 billion for the first nine months of the year. Trade (Consumer Books) revenues were roughly flat in September, down 0.9% at $911.5 million. In terms of physical paper format revenues during the month of September, in the Trade (Consumer Books) category, Hardback revenues were up 3.2%, coming in at $400.1 million; Paperbacks were down 12.6%, with $263.2 million in revenue; Mass Market was down 22.1% to $9.1 million; and Special Bindings were down 1.0%, with $27.2 million in revenue. eBook revenues were up 4.0% for the month as compared to September 2023 for a total of $90.5 million, and the Digital Audio format was up 28.1% for September, coming in at $89.7 million in revenue. Physical Audio was down 51.1% coming in at $800 thousand.

The United States Postal Service is primed and ready to deliver exceptional service during the 2024 holiday rush thanks in large part to the investments and strategies identified in its 10-year Delivering for America plan. Today, the Postal Service provided updates on its peak holiday season preparations, as well as its readiness to deliver another successful holiday season of extraordinary service. “Thanks to the substantial progress we have made under the Delivering for America plan, we are ready and confident to handle the holiday surge,” said USPS Chief Retail and Delivery Officer and Executive Vice President Dr. Joshua Colin. “Our ability to move packages and mail throughout our network has never been stronger. USPS continues to be the most affordable and reliable way to ship packages and mail this holiday season and year-round.”

Despite an uncertain economic landscape, the overwhelming majority of retailers are feeling positive about their current business health. That’s according to a new third-quarter survey from cash-back partner Upside, which reveals that of 1,806 retailers across 10 categories, 61% say their current outlook is “excellent,” a 14-point increase over the first quarter of this year. In all, 96% of respondents feel positively about the current state of their business, which is up by eight percentage points over the first quarter, when 92% felt positively about current business health. Upside’s survey found that with increased optimism, retailers are looking to expand their brick-and-mortar presence. The number of retailers focused on opening new stores has increased by seven points, from 19% a year ago to 26% today.

After word spread this spring that Costco was planning to implement a "holiday season model," selling books only in the final three months of the year starting in 2025, various sources now say the mass merchandiser has committed to keeping bookstore sections year-round in 100 of its more than 600 locations. The remaining stores will move to the September-December bookselling model, and publishers will also have the opportunity to sell promotional pallets in stores. Costco had no comment on the report. While overall sales to Costco will almost certainly decline, the news still comes as a relief to publishers. Costco, along with other mass merchandisers such has Walmart and Target, has become an important bricks-and-mortar outlet for print books. Not only do they have the capability of selling tens-of thousands copies of a title, but they serve as important places for consumers to discover new titles not typically sold in other stores and which can be difficult to find online.

“We delivered third quarter sales in line with expectations as we continued to make traction on our Bold New Chapter strategy initiatives,” said Tony Spring, chairman and chief executive officer of Macy’s, Inc. “Our Macy's First 50 locations achieved their third consecutive quarter of comparable sales growth. At the same time, our luxury brands, Bloomingdale's and Bluemercury, reported positive comparable sales. Importantly, November comparable sales are trending ahead of third quarter levels across nameplates.” Macy’s, Inc. net sales decreased 2.4% to $4.742 billion, with comparable sales down 2.4% on an owned basis and down 1.3% on an owned-plus-licensed-plus-marketplace basis. Sales growth at Macy’s First 50 locations, Bloomingdale’s, and Bluemercury was offset primarily by weakness in Macy’s other non-First 50 locations as well as its digital channel and cold weather categories. Macy’s, Inc. go-forward business 1 comparable sales were down 2.0% on an owned basis and down 0.9% on an owned-plus-licensed-plus-marketplace basis.

Montreal-based software company Valsoft Corporation has acquired Above the Treeline, Inc., developer of the digital platform Edelweiss, marking its second major investment in publishing industry software following its majority stake purchase in Klopotek in August 2023. Edelweiss hosts 95% of U.S. frontlist titles and serves as a central workflow hub focusing on frontlist and backlist sales management, as well as analytics, workflow tools, and other related activities for publishers, booksellers, and librarians. It is, along with Netgalley, the major platform for digital review copies. It serves some 1,200 companies and has 250,000 users.

“While we continue to operate in a challenging advertising marketplace dominated by large, foreign media platforms, Postmedia achieved some important milestones during the quarter that give us optimism around the future of Canadian news media. It is clear from our digital audience that Canadians look to us to provide accurate and timely local, provincial, and national news,” said Andrew MacLeod, President and CEO. “We are appreciative of the Ontario government’s recent policy change to support local media in Ontario. We hope to see similar initiatives from governments and corporate Canada. We are encouraged by the successful completion of the C-18 negotiations and look forward to the release of funding. The improving environment gave us confidence to both step into a challenging situation in Atlantic Canada and save local news brands that have operated in those provinces for over 150 years and to invest millions of dollars in a new digital platform with improved capabilities.

The United States Postal Service (USPS) has announced a proposal for new postage rates set to take effect in early 2025, citing the need to stay competitive and increase revenue. If approved, the change would raise Shipping Services prices by approximately 3.2 percent for Priority Mail service and Priority Mail Express service, 3.9 percent for USPS Ground Advantage, and 9.2 percent for Parcel Select, according to the announcement on the service's website. The proposed pricing action is part of "Delivering for America," the agency's 10-year plan for "achieving financial sustainability and service excellence."

Walmart Inc. announces third-quarter results with strong growth in revenue and operating income. Globally, eCommerce grew 27% with penetration up across all segments. Walmart U.S. comp sales up 5.3%2 with positive growth in general merchandise. Looking ahead, the Company raises its guidance for FY25 with net sales expected to grow 4.8% to 5.1% and adjusted operating income to grow 8.5% to 9.25% in constant currency (“cc”)1. “We had a strong quarter, continuing our momentum. Our associates are working hard to save people time and money and to transform our business. In the U.S., in-store volumes grew, pickup from store grew faster, and delivery from store grew even faster than that. Our teams are executing and delighting our customers and members with the value and convenience they expect from Walmart.” Doug McMillon President and CEO, Walmart.

Barnes & Noble announces the sale of Sterling Publishing Co. Inc. to Hachette Book Group. The publisher was acquired by Barnes & Noble in 2003 and now includes adult imprints Union Square & Co., Puzzlewright Press, Sterling Ethos and Spark Notes, as well the children’s imprints Union Square Kids and Boxer Books; and the gift and stationery publishers Knock Knock and Em & Friends. It is the publisher of New York Times bestselling author/illustrator Mo Willems, recent New York Times bestselling authors Caroline Chambers and Dan Pelosi, and acclaimed authors Melissa Blair, L.S. Stratton, and Dusti Bowling, among others, as well as a dynamic program of literary classics. Sterling has been led by Emily Meehan since 2021 who oversaw the rebranding in January 2022 to Union Square & Co., influenced by its New York City’s Union Square Park headquarters. The company will remain under the leadership of Emily, who will report into Ben Sevier, President and Publisher of the Grand Central Publishing Group, a division of Hachette Book Group. All Sterling Publishing Co. Inc.’s staff, publishing assets and trademarks will transfer to Hachette Book Group.

The U.S. Postal Service announced its financial results for the 2024 fiscal year ended September 30. Controllable loss, which excludes certain expenses that are not controllable by management, was $1.8 billion for the year, compared to over $2.2 billion for the prior year. The net loss for the year under generally accepted accounting principles (GAAP) totaled $9.5 billion, compared to a net loss of $6.5 billion for the prior year, an increase of $3.0 billion primarily attributed to the year-over-year increase in non-cash workers’ compensation expense. Over 80% of our current year net loss is attributed to factors that are outside of management's control, specifically, the amortization of unfunded retiree pension liabilities and non-cash workers' compensation adjustments. “Our pricing and product strategies are continuing to improve our revenue picture and fuel market share gains in our package business, demonstrating the increasing competitiveness of the Postal Service,” said Postmaster General Louis DeJoy. “While we continue to reduce our costs, there remain many economic, legislative and regulatory obstacles for us to overcome. We look forward to continuing our focus on transforming and modernizing the Postal Service, driving revenue, reducing the cost to deliver, improving operational performance, and positioning the organization for long-term financial sustainability.”