Bookstore Sales Fell 16.6% in January (publishersweekly.com)

• Adobe achieved record quarterly revenue of $1.84 billion in its third quarter of fiscal year 2017, which represents 26 percent year-over-year revenue growth. • Diluted earnings per share was $0.84 on a GAAP-basis, and $1.10 on a non-GAAP basis. • Digital Media segment revenue was $1.27 billion, with Creative revenue growing to $1.06 billion. • Digital Media Annualized Recurring Revenue (“ARR”) grew to $4.87 billion exiting the quarter, a quarter-over-quarter increase of $308 million. • Adobe Experience Cloud achieved revenue of $508 million, which represents 26 percent year-over-year growth. • Operating income grew 48 percent and net income grew 55 percent year-over-year on a GAAP-basis; operating income grew 43 percent and net income grew 46 percent year-over-year on a non-GAAP basis. • Cash flow from operations was $704 million, and deferred revenue grew to approximately $2.20 billion. • The company repurchased approximately 2.1 million shares during the quarter, returning $298 million of cash to stockholders. Click Read More below for additional detail.

The largest US newspaper circulations fell 12% in the year to March 2022, new figures obtained by Press Gazette show. Our top 25 ranking, based on figures shared by the Alliance for Audited Media (AAM), shows that The Wall Street Journal and New York Times retain the largest daily print circulations in the US. Gannett’s USA Today keeps third place, but is close to seeing its print circulation fall below Jeff Bezos’s Washington Post.

*Comparable sales grew 3.3 percent, on top of 22.9 percent growth last year. **Comparable sales growth reflected traffic growth of 3.9 percent. **Store comparable sales increased 3.4 percent, on top of 18.0 percent growth last year. **Digital comparable sales grew 3.2 percent, following growth of 50.2 percent last year. **Same-day services (Order Pickup, Drive Up and Shipt) grew 8 percent this year, led by Drive Up, which grew in the mid-teens on top of more than 120 percent last year. **More than 95 percent of Target's first quarter sales were fulfilled by its stores. *Sales growth was led by frequently-purchased categories, including Food & Beverage, Beauty, and Household Essentials. *Operating margin rate of 5.3 percent was well below expectations, driven primarily by gross margin pressure reflecting actions to reduce excess inventory as well as higher freight and transportation costs.