Best Buy Joins Growing List of Retailers Closing Stores on Thanksgiving Day (mytotalretail.com)

Total Company net sales for the three months ended January 31, 2023, increased 3.9% to a record $1.38 billion. Total Retail segment net sales increased 2%, with comparable Retail segment net sales increasing 3%, partially offset by a 1% negative impact of foreign currency translation. The increase in Retail segment comparable net sales was driven by mid- single-digit positive growth in retail store sales and low single-digit positive growth in digital channel sales. By brand, comparable Retail segment net sales increased 15% at the Free People Group and 9% at the Anthropologie Group and decreased 10% at Urban Outfitters. Wholesale segment net sales decreased 7% driven by a 13% decrease in Free People Group wholesale sales due to a decrease in sales to department stores partially offset by growth in specialty and close out account partners, while Urban Outfitters wholesale sales increased by $3 million. Nuuly segment net sales increased by $25.5 million driven by a 149% increase in our subscribers as of the current quarter end versus the end of the prior year’s comparable quarter.

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.

Savvas Learning Company is proud to announce that its myPerspectives English Language Arts (ELA) program has been named the “Best Reading/Writing/Literature Instructional Solution for Grades 9-12” in the 2022 SIIA CODiE Awards for Education Technology. myPerspectives is a powerful, standards-aligned ELA curriculum that values the perspective of the learner and prepares students to become lifelong readers, writers, and thinkers. A CODiE award judge praised myPerspectives as “really exceptional in its ability to save educators time in creating customized and engaging content for students to interact with. I love that texts include multiple ways to engage, whether it's fiction, videos, news articles, or even podcasts. It's clear that the tool was designed by educators and with students in mind. I also appreciate that there is intentionality in providing diverse texts that are culturally relevant.”