Book Manufacturers’ Institute Releases Industry Barometer Survey Results for July

UPS announced second-quarter 2023 consolidated revenues of $22.1 billion, a 10.9% decrease from the second quarter of 2022. Consolidated operating profit was $2.8 billion, down 21.4% compared to the second quarter of 2022, and down 18.4% on an adjusted basis. Diluted earnings per share were $2.42 for the quarter; adjusted diluted earnings per share of $2.54 were 22.8% below the same period in 2022. For the second quarter of 2023, GAAP results included after-tax transformation and other charges of $106 million, or $0.12 per diluted share.

For the thirteen weeks ended August 1, 2020 (the "second quarter"), the Company reported: *A net loss of $46.8 million a material improvement over the thirteen weeks ended May 2, 2020 (the "first quarter"). The second quarter net loss includes the after-tax impact of inventory write-offs of $8.0 million. For the thirteen weeks ended August 3, 2019 ("last year's second quarter"), the net loss was $2.3 million. *Net sales were $306.2 million, an improvement of 9.2% from the first quarter, reflecting the benefit of strong digital sales and store reopenings. Sales decreased approximately 39.8% from last year's second quarter, reflecting disruptions related to the pandemic, including the continuation of temporary store closures and limited hours during the second quarter, as well as the impact of 74 net permanent store closures since last year's second quarter, partially offset by double-digit growth in digital performance. For the twenty-six weeks ended August 1, 2020, the Company reported: *A net loss of $225.1 million compared to net loss of $0.3 million for the twenty-six weeks ended August 3, 2019.

The Book Manufacturers’ Institute (BMI) held its Annual Conference Nov. 5-7, 2017 at Turnberry Isle in Florida. The Annual Conference - attended by a number of book manufacturing companies as well as suppliers to the industry -- is the flagship event of the association where members go to learn and network. The Annual Conference is also where new board members are voted into the leadership of the association. At the event, Kent Larson of Bridgeport National Bindery, finished his two-year term as president of the BMI. Taking over for Larson is Jim Fetherston, who is President and CEO of Worzalla in Stevens Point, Wis. Not only is BMI seeing a change in its volunteer leadership, the association is also experiencing a change in its staff leadership. Dan Bach, a longtime industry veteran, has led the BMI as executive VP since 2009. Bach announced his retirement earlier in 2017 and the BMI set out to find his replacement. Click Read More below for additional information.