Wyndeham Group has secured a two-year extension of its print contract with Hearst UK which includes the addition of three new titles. The three new arrivals, Red, Red Travel and Country Living, bring the number of magazines Wyndeham prints for Hearst up to 18, and will be printed at Wyndeham Roche in Cornwall. Wyndeham's first magazine work for Hearst was the printing of lifestyle weekly Reveal in the early 2000s. It secured 10 titles in 2016 in the wake of Polestar’s collapse. Group sales director Jon Hearnden said: “We have a very strong relationship with Hearst UK and over its span we have proven ourselves to be reliable and capable of turning over a consistent product. Click Read More below for additional information.

Net sales were $730.9 million, up 11% from last year, with comparable sales up 5%. Changes in foreign currency exchange rates and the calendar shift resulting from the 53rd week in fiscal 2017 benefited first quarter net sales by approximately 4% and 1%, respectively, which do not impact comparable sales. By brand, net sales increased 13% to $423.6 million for Hollister and increased 7% to $307.3 million for Abercrombie from last year. By geography, net sales increased 10% to $449.1 million in the U.S. and increased 12% to $281.8 million in international markets from last year. Net other operating income was $2.6 million, compared to $1.7 million last year, primarily related to foreign currency gains. Click Read More below for additional information.

The Retail Industry Leaders Association voiced its opposition to the White House announcement on the Thursday that it will impose new steel and aluminum tariffs on imports from the European Union, in addition to Canada and Mexico. Quach said that imposing tariffs raises the stakes for U.S. allies to take retaliatory measures that will hurt the nation’s exporters while creating more uncertainty for American businesses. “The administration has created a three-front trade war, targeting NAFTA, China, and now the European Union, with no resolution to any of these disputes in sight,” Quach said. Click Read More below for additional information.

Costco Wholesale Corporation announced its operating results for the third quarter (twelve weeks) and the thirty-six weeks ended May 13, 2018. Net sales for the quarter increased 12.1 percent, to $31.62 billion, from $28.22 billion last year. Net sales for the first thirty-six weeks of fiscal 2018 increased 12.0 percent, to $95.02 billion, from $84.82 billion last year. Net income for the quarter was $750 million, or $1.70 per diluted share, compared to $700 million, or $1.59 per diluted share, last year. Click Read More below for additional information.

The operator of Sears and Kmart stores posted a first-quarter loss of $3.93 a diluted share. Revenue fell due to fewer stores and a 12% drop in comparable-store sales. The Hoffman Estates, Illinois-based retailer said Thursday that it has identified 100 unprofitable stores, and 72 of them will begin store-closing sales in the near future. It will announce the locations to close by midday. Click Read More below for additional information.

• Net sales increased 17.4% to $1,543.7 million compared to $1,314.9 million in the first quarter of fiscal 2017; • Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 8.1% compared to an increase of 14.3% in the first quarter of fiscal 2017. The 8.1% comparable sales increase was driven by 5.1% transaction growth and 3.0% growth in average ticket; • Retail comparable sales increased 4.7%, including salon comparable sales growth of 3.2%; • Net income increased 28.2% to $164.4 million compared to $128.2 million in the first quarter of fiscal 2017. Click Read More below for additional information.

•Total revenues increased 3% to $540.5 million. Comparable company sales increased 1% following a decrease of 8% in the first quarter last year. •J.Crew sales decreased 7% to $391.9 million. J.Crew comparable sales decreased 6% following a decrease of 11% in the first quarter last year. •Madewell sales increased 39% to $115.8 million. Madewell comparable sales increased 31% following an increase of 11% in the first quarter last year. •Operating loss was $0.9 million compared to $151.0 million in the first quarter last year. •Net loss was $33.9 million compared to $121.0 million in the first quarter last year. Click Read More below for additional information.

For the first quarter, net sales were $561.8 million compared to $583.7 million in last year's first quarter. This decrease of 3.8% primarily reflects a comparable sales decline of 5.9% and the impact of 41 net store closures since last year's first quarter, partially offset by the favorable impact of the calendar shift due to the 53rd week in fiscal 2017. The comparable sales decline was primarily driven by lower transaction count. For the first quarter, gross margin was $226.9 million, or 40.4% of net sales, compared to $237.4 million, or 40.7% of net sales, in last year's first quarter. This 30 basis point decrease primarily reflects the initial implementation costs and launch of a new expedited shipping program, partially offset by a 70 basis point improvement in maintained margin. Click Read More below for additional information.

Summer is a key time for booksellers around the country in regions that attract tourists during the season, and for those that see increased foot traffic from teachers and children. “Our Chamber of Commerce anticipates a 5% rise in visitors to Alaska this summer,” said Jenny Stroyeck at the Homer Bookstore in Homer, Alaska. “Our foot traffic does go up in the summer.” She noted that with the long driving distances between towns, parents like to buy their kids books to ensure peace and quiet on the road. The Homer Bookstore has had a slight dip in sales so far this year—it is down 2% compared to the same period in 2017—but, like many stores around the country, anticipates a boost from some big seasonal events. The Kachemak Writers’ Conference, which will be held in Homer in June and will feature Anthony Doerr as the keynote speaker, should produce some strong numbers for the indie. Click Read More below for additional information.

Earlier this month PrintWeek reported on the ‘perfect storm’ of global events that have tightened the supply of graphical papers and resulted in paper mills resorting to allocation for the first time since 2001. Factors in the mix are wide-ranging with the surging global demand for pulp being at the forefront, fuelled by its ever-expanding uses in new and existing markets, such as hygiene and tissue products, as well as the backlash against plastic with manufacturers seeking paper-based alternatives. “Pulp is no longer a one-trick pony,” says Mario di Lieto, managing director of Stora Enso division LumiPaper. “There’s a much broader use for cellulose today than just paper. It’s being used for plastic substitute, for clothing, for biomass for energy, all sorts of applications.” As a result of this soaring demand, pulp prices have been pushed up further and further from $700-$750 (£520-£557) a tonne a year ago, to nearly $1,200 causing a knock-on effect across the print and packaging industry, among others. Click Read More below for additional information.

With industry sales largely flat, one way publishers have maintained their profit margins in recent years is by operating more efficiently and taking costs out of the supply chain. But publishers’ ability to contain costs could be put to the test this year as the price of paper rises. As one publisher noted, because of an overall decline in demand, paper prices have been good for several years. In early 2018, however, a number of events have led to a decline in the paper supply and an increase in prices. A recent report by printer Quad Graphics noted that the cost of uncoated groundwork paper rose $35 per ton on February 1 and rose another $25 per ton March 1. Costs have risen in part because of a reduction in supply, as a number of Canadian mills have either closed or, in search of better margins, switched from producing paper to manufacturing other products, such as packaging, explained Matt Baehr, executive director of the Book Manufacturers’ Institute; the institute recently held its annual meeting, which focused on paper issues. Click Read More below for additional information.

Publishers’ revenue increased by $143.2 million (+6.2%) for the first quarter of 2018 (Jan - March) compared to the same period in 2017. These numbers include sales for all tracked categories (Trade - fiction/non-fiction/religious, PreK-12 Instructional Materials, Higher Education Course Materials, Professional Publishing, and University Presses). The increases are attributed primarily to strong growth in trade (consumer) books in January and February. Trade books increased by $94.7 million (+6.3%) to $1.59 billion in the first quarter of 2018 compared to the same period in 2017, with growth in Adult Books, Children & Young Adult Books and Religious Presses. Publishers also saw increased revenue for Professional Books, University Presses and Higher Ed Course Materials. Click Read More below for additional information.

For the first quarter ended May 5, 2018: • Net sales were $3.8 billion, an increase of 10% compared with last year. Excluding the impact from the adoption of the new revenue recognition standard, net sales increased 6% compared with last year. * The translation of foreign currencies into U.S. dollars positively impacted the company’s net sales for the first quarter of fiscal year 2018 by about $40 million. First quarter net sales details appear in the tables at the end of this press release. • Gross profit was $1.43 billion, an increase of 10% compared with last year. Excluding the impact from the adoption of the new revenue recognition standard, gross profit increased about 3% compared with last year. Click Read More below for additional information.

What could be more exciting than the end of the school year? For many students, the answer is graduation season. May and June mark the end of one chapter and the beginning of another in many families’ lives. And paper is there every step of the way, even in this digital world. What would graduation season be like without paper? Just imagine that you’re walking across the stage on your graduation day. A crowd of family and friends are in the audience to cheer you on. You reflect on your achievements and consider where you’ll hang your beautiful framed diploma. You shake hands with a school official, and then you hear, “Congratulations on your graduation! Log on to our website to access your diploma.” Click Read More below for additional information.

IntuIdeas' John Parsons, who co-authored "Introduction to Graphic Communication" with former Cal Poly Graphic Communication Department Head Harvey Levenson, describes release of the first textbook to use Ricoh's Clickable Paper technology. Printed by Edwards Brothers Malloy on its high-speed Ricoh Pro VC60000 inkjet press, the four-color book combines print and multimedia engagement, including access to related digital media content and reader-to-reader interaction. Click Read More below for additional information.

Earnings per share for the first quarter ended May 5, 2018, were $0.17 compared to $0.33 for the quarter ended April 29, 2017. First quarter operating income was $154.8 million compared to $209.2 million last year, and net income was $47.5 million compared to $94.1 million last year. The company reported net sales of $2.626 billion for the first quarter ended May 5, 2018, an increase of 8 percent compared to sales of $2.437 billion for the quarter ended April 29, 2017. Comparable sales for the first quarter ended May 5, 2018, increased 3 percent compared to the thirteen weeks ended May 6, 2017.

Domestic revenue of $8.41 billion increased 6.3% versus last year driven by comparable sales growth of 7.1%, partially offset by the loss of revenue from 17 large-format and 193 Best Buy Mobile store closures over the past year. International revenue of $697 million increased 13.1% versus last year. This increase was primarily driven by comparable sales growth of 6.4%, due to growth in both Canada and Mexico, and approximately 500 basis points of positive foreign currency impact. Domestic gross profit rate was 23.3% versus 23.6% last year. International gross profit rate was 23.4% versus 24.5% last year. Click Read More below for additional information.

During the first quarter of 2018, we adopted ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). As a result of the new accounting standard, income relating to our credit card program and gift card breakage that previously offset selling, general and administrative (“SG&A”) expenses has been recorded in other revenue in the Condensed Consolidated Statements of Income for all periods presented. The increase in other revenue for the first quarter of 2018 is the result of higher penetration from our growing credit card program. Gross profit for the first quarter of 2018 was $96.1 million or 29.4 percent of sales compared to $95.6 million or 28.3 percent of sales in 2017. Click Read More below for additional information.

Total Company net sales for the three months ended April 30, 2018, increased 12.4% over the same period last year to a record $856 million. Comparable Retail segment net sales increased 10%, driven by strong, double-digit growth in the digital channel and positive retail store sales. By brand, comparable Retail segment net sales increased 15% at Free People, 10% at the Anthropologie Group and 8% at Urban Outfitters. Wholesale segment net sales increased 13%. Net income for the three months ended April 30, 2018, was $41 million and earnings per diluted share was $0.38. Click Read More below for additional information.

Total revenue of $16.8 billion increased 3.4 percent from $16.2 billion last year, reflecting sales growth of 3.5 percent combined with a slight decline in other revenue. First quarter sales growth reflected comparable sales growth of 3.0 percent combined with the contribution from non-mature stores. Comparable digital channel sales grew 28 percent and contributed 1.1 percentage points of comparable sales growth. Operating income was $1,041 million in first quarter 2018, down 9.9 percent from $1,155 million in 2017. First quarter operating income margin rate was 6.2 percent, compared with 7.1 percent in 2017. First quarter gross margin rate was 29.8 percent, compared with 30.0 percent in 2017, reflecting pressure from digital fulfillments costs and sales mix, partially offset by the benefit of the Company's cost saving efforts and the net impact of changes to the Company's pricing and promotions. Click Read More below for additional information.

Much like photography itself, Shutterbug magazine is turning its focus to digital. Today, UK-based AVTech Media announced it is ceasing Shutterbug magazine’s print edition after 45 years in order to pour more resources into its website, citing a seven-fold increase in digital traffic over the last four years. Despite a circulation of nearly 100,000 readers, the cost of production and slipping ad revenues evidently called for a strategic shift. Click Read More below for additional information.

Second quarter net revenue of $7.5 billion was up 10% from the prior year and up 6% when adjusted for currency. Second quarter GAAP diluted net earnings per share (“EPS”) from continuing operations was $0.54, up from GAAP diluted net EPS from continuing operations of ($0.29) in the prior-year period. Click Read More below for additional information.

The four large publicly traded consumer publishers that recently reported their financial results for the quarter ended March 31 were all able to point to some good financial news. HarperCollins had the best results, with sales up 6.4% compared to the same quarter last year and profits rising 16.2%. In a conference call discussing results, Susan Panuccio, CFO of HC parent company News Corp, said the sales gains were led by the general and Christian publishing divisions. Backlist titles did particularly well, accounting for 58% of revenue in the quarter, compared to 52% a year ago, Panuccio said. She added that the strong performance of the backlist helped to boost margins. Another important contributor was downloadable audiobooks. The format had strong gains in the quarter, helping to offset softness in e-book sales and leading to a 5% increase in overall digital sales at HC compared to the prior year. The company said that downloadable audio accounted for about 25% of all digital revenue in the recent period. Digital sales represented 22% of consumer revenue for the quarter—the same percentage the format accounted for in the quarter last year. Click Read More below for additional information.

Financial Highlights •Total revenues grew by 13% to £161.5 million (2016/17: £142.6 million). Revenues from overseas customers grew by 16% to £101.2 million, and are now 63% of total revenues •Profit before taxation and highlighted items* grew by 10% to £13.2 million (2016/17: £12.0 million), above market expectations •Proposed final dividend of 6.36p per share, making a total dividend of 7.51p per share for the year, up 12% (2016/17: 6.7p per share) •Diluted earnings per share, excluding highlighted items*, grew by 10% to 13.92p (2016/17: 12.63p) •Strong cash conversion of 161% (2017: 180%), with net cash of £25.4m at 28 February 2018 (2017: £15.5m) •Strong autumn book list and acquisition of I. B. Tauris & Co. Ltd ("IBT") will mean performance for 2018/19 will be well ahead of our previous expectations. Click Read More below for additional information.

President Trump has personally pushed U.S. Postmaster General Megan Brennan to double the rate the Postal Service charges Amazon.com and other firms to ship packages, according to three people familiar with their conversations, a dramatic move that probably would cost these companies billions of dollars. Brennan has so far resisted Trump’s demand, explaining in multiple conversations occurring this year and last that these arrangements are bound by contracts and must be reviewed by a regulatory commission, the three people said. She has told the president that the Amazon relationship is beneficial for the Postal Service and gave him a set of slides that showed the variety of companies, in addition to Amazon, that also partner for deliveries. Click Read More below for additional information.

Unit sales of print books fell by less than 1% in the week ended May 13, 2018, compared to the similar week in 2017, at outlets that report to NPD BookScan. Gains in nonfiction largely offset declines in fiction in the week. Units increased 4% in the adult nonfiction category over the week ended May 14, 2017, as the segment had the industry’s two biggest-selling books: Magnolia Table by Joanna Gaines sold more than 171,000 copies, while The Soul of America by Jon Meacham sold nearly 39,000 copies in its first week, landing it in the second spot on both the category and overall bestseller lists. Print unit sales in juvenile nonfiction rose 7% over 2017; a number of new books helped give the segment a boost. Click Read More below for additional information.

Total Company net sales increased 5.8 percent for the first quarter ended May 5, 2018 compared with the quarter ended April 29, 2017. This reflected an increase of approximately 250 basis points primarily due to the shift of a Nordstrom Rewards loyalty event into the first quarter relative to the second quarter last year. Comparable sales for the first quarter ended May 5, 2018 increased 0.6 percent, compared with the 13-week period ended May 6, 2017. First quarter net earnings were $87 million compared with $63 million during the same period in fiscal 2017. Results in 2017 included an interest expense charge of $18 million related to a debt refinancing. Click Read More below for additional information.

◾ Revenues rise to €3.99 billion ◾ Organic growth improves to 2.7 percent ◾ High-growth businesses show organic revenue growth of 7.9 percent ◾ Operating EBITDA before negative exchange-rate effects up year-on-year ◾ Group profit at €172 million. Click Read More below for additional information.

Whether you write a little or a lot, you should take a moment to look for errors before sending that email or submitting that report or presentation. But should you proofread on paper or on your computer? We asked professionals for their top proofreading tips, and they recommended proofreading on paper. Why? Because proofreading on paper delivers better results. Tom Stafford, who studies typos (short for typographical errors) at the University of Sheffield in the United Kingdom, explained why it can be so difficult to spot errors when proofing onscreen. Click Read More below for additional information.

InnerWorkings, Inc. announced a new long-term contract with Pabst Brewing Company, North America’s largest privately held brewing company. Under a five-year contract, InnerWorkings will be the exclusive provider for Pabst’s retail marketing execution. The full scope of services includes branded merchandise, creative services, retail environments and displays, warehousing and logistics, and point-of-sale marketing collateral – all powered by a single technology solution to simplify processes, deliver flexibility, and improve transparency. InnerWorkings will reinvent the buying process for Pabst, add creative resources to support innovation, and advance the migration toward a digital in-store customer experience. Click Read More below for additional information.

For the first quarter ended May 5, 2018, total net sales decreased 4.3 % to $2.58 billion compared to $2.70 billion for the first quarter ended Apr. 29, 2017. The decline in total net sales was primarily the result of the 141 stores that closed in the second and third quarters of fiscal 2017. Comparable sales increased 0.2 % for the first quarter. Credit income, which was previously reflected as a reduction to SG&A, was $87 million for the first quarter this year compared to $83 million in the first quarter last year. For the first quarter, the Company’s net loss was $78 million, or ($0.25) per share, compared to a net loss of $187 million, or ($0.60) per share in the same period last year. Adjusted net loss was $69 million, or ($0.22) per share, for the first quarter this year compared to adjusted net income of $2 million, or $0.01 per share, for the first quarter last year. Click Read More below for additional information.

•Total revenue was $122.7 billion, an increase of $5.1 billion, or 4.4%. Excluding currency2, total revenue was $120.7 billion, an increase of $3.2 billion, or 2.7%. •Walmart U.S. comp sales1,2 increased 2.1%, and comp traffic increased 0.8%. •Sam's Club comp sales1,2 increased 3.8% led by comp traffic growth of 5.6%. Tobacco sales negatively impacted comp sales by approximately 140 basis points •The company generated $5.2 billion in operating cash flow. Click Read More below for additional information.

Meredith Corporation's FOOD & WINE announced that its June issue marks the debut of a fresh editorial redesign. The issue is on newsstands today and is accessible at FoodandWine.com. Since joining FOOD & WINE in June 2017, Editor-in-Chief Hunter Lewis has led the brand's creative team to inspire and empower their audience to eat, drink, entertain, and travel better—every day and everywhere. The purpose of the magazine's design evolution is to deliver a fresher look, a more joyful experience, and more service on every page. "We're excited to give coverage of food, recipes, and drink even more real estate in every issue," said Lewis. "With any creative endeavor, the look will continue to evolve, as will our coverage of the chefs, winemakers, and tastemakers who are shaping our dynamic food and drink culture." Click Read More below for additional information.

Net sales in the first quarter of 2018 totaled $5.541 billion, an increase of 3.6 percent, compared with sales of $5.350 billion in the first quarter of 2017. Comparable sales on an owned basis were up 3.9 percent in the first quarter and up 4.2 percent on an owned plus licensed basis. The company estimates that comparable sales in the first quarter of 2018 benefited approximately 250 basis points from the shift of Friends and Family from the second quarter to the first. Excluding this, the company estimates that comparable sales were up 1.7 percent on an owned plus licensed basis. Macy's, Inc.'s operating income for the first quarter of 2018 totaled $238 million, or 4.3 percent of sales, compared to $219 million, or 4.1 percent of sales, for the first quarter of 2017. Operating income for the first quarter of 2018 totaled $257 million, or 4.6 percent of sales, excluding impairment and other costs of $19 million, which primarily relate to the wind-down of Macy's China Limited as discussed below. The company anticipates recognizing additional charges of approximately $10 million related to the wind-down over the course of fiscal 2018. There were no impairment and other costs in the first quarter of 2017. Click Read More below for additional information.

A bipartisan group of lawmakers in the U.S. Senate, led by Susan Collins (R-Maine) and Angus King (I-Maine), have introduced a bill that would delay dumping tariffs and countervailing duties currently being applied to imports of Canadian uncoated groundwood (UGW), or newsprint, being used primarily by newspaper, book, directory and circular printers, as well as other publishers and printers. The PRINT (Protecting Rational Incentives in Newsprint Trade) Act would suspend the import taxes of up to 32% on Canadian uncoated groundwood paper and would require the U.S. Department of Commerce to complete a study within 90 days on the economic health of the newsprint and U.S. newspaper industry in general. The bill would also postpone any action by the Commerce Department and the International Trade Commission on newsprint import duties until President Donald Trump receives the report and certifies that the taxes are in the economic interests of the United States. Click Read More below for additional information.

First-quarter U.S. e-commerce sales grew 14.1% compared with the first quarter of 2017, according to Adobe Analytics’ Digital Dollar report—a new year-round report that tracks revenue trends beyond the holidays. While not as strong as Q4’s 2017 year-over-year growth of 14.7%, Adobe says this is the first-ever Q1 with more than $100 billion in U.S. online retail revenue. Adobe’s data is based on an analysis of more than 1 trillion visits to more than 4,500 retail sites and 55 million SKUs, and it measures online transactions at what Adobe considers to be 80 of the largest 100 U.S. web retailers. Click Read More below for additional information.

Bookstore sales rose 3.5% in March over the same month in 2017, according to preliminary estimates released by the U.S. Census Bureau. Sales for the month were $734 million, up from $709 million a year ago. The March increase followed a 2.3% gain in February, which ended a six-month slide in bookstore sales. The two-month rally in bookstore sales, however, was not quite enough to overcome the steep decline bookstore sales posted in January. Click Read More below for additional information.

The Home Depot®reported sales of $24.9 billion for the first quarter of fiscal 2018, a 4.4 percent increase from the first quarter of fiscal 2017. Comparable sales for the first quarter of fiscal 2018 were positive 4.2 percent, and comp sales in the U.S. were positive 3.9 percent. Net earnings for the first quarter of fiscal 2018 were $2.4 billion, or $2.08 per diluted share, compared with net earnings of $2.0 billion, or $1.67 per diluted share, in the same period of fiscal 2017. For the first quarter of fiscal 2018, diluted earnings per share increased 24.6 percent from the same period in the prior year. Click Read More below for additional information.

Barnes & Noble, Inc. announced the return of its customer-favorite Summer Reading Program. Now in its 22nd year, the Barnes & Noble Summer Reading Program encourages kids across the country in grades 1-6 to celebrate the joy of reading all summer long and gives them the exciting opportunity to earn a free book by reading eight books and turning in a completed reading journal listing the books they’ve read. Free books this year include perennial favorites such as Pete the Cat, Charlie and the Chocolate Factory and Artemis Fowl, plus many more for children in grades 1-6. “The Summer Reading Program is one of our most popular campaigns at Barnes & Noble because it encourages kids to engage with reading material during the summer, while providing parents with the peace of mind that their families are still learning and growing,” said Stephanie Fryling, Vice President of Merchandising, Children’s Books at Barnes & Noble. “We’re really excited about this year’s exceptional lineup of recent bestsellers and timeless favorites, and we encourage kids across the country in grades 1-6 to get their journals soon so they can experience the joy of reading and earn their free book.” Click Read More below for additional information.

Houghton Mifflin Harcourt and Sequential Brands Group announced a new partnership for the release of Martha Stewart’s next three lifestyle books. Each title will be an essential guide to doing things the Martha way, featuring fresh content that captures her impeccable taste and incomparable guidance on everything from entertaining, to healthy living, to organizing, and decorating. “So many of us have admired Martha Stewart for decades. She’s a cultural icon the nation continually turns to for trusted advice,” says Deb Brody, VP Editor-In-Chief, HMH Trade Publishing. “We are overjoyed to launch this partnership between Martha Stewart and Houghton Mifflin Harcourt with her lifetime’s expertise collected for the first time in one indispensable volume. This is the book Martha’s fans have been waiting for.” Click Read More below for additional information.

Bauer Media’s Empire magazine is to once again push the boundaries of print publishing by producing an innovative limited edition talking cover. The cover, created in partnership with Twentieth Century Fox to coincide with the launch of Deadpool 2, is the first talking, voice-responsive cover ever produced. A concealed speaker is activated by a button which, when pressed and spoken to, offers one of 14 recorded replies from Deadpool himself. 3,200 issues of this very special issue will be printed and available in Tesco, WHSmith Travel as well as online at www.greatmagazines.co.uk. Click Read More below for additional information.

Xerox announced that, at 5:00 p.m. ET on May 13, 2018, it notified Fujifilm that the previously announced transaction agreement to combine Xerox with Fuji Xerox is being terminated in accordance with its terms due to, among other things, the failure by Fujifilm to deliver the audited financials of Fuji Xerox by April 15, 2018 and the material deviations reflected in the audited financials of Fuji Xerox, when delivered, from the unaudited financial statements of Fuji Xerox and its subsidiaries provided to Xerox prior to the date of the Subscription Agreement and taking into account other circumstances limiting the ability of the Company, Fujifilm and Fuji Xerox to consummate a transaction. Thereafter, Xerox entered into a new settlement agreement with Carl Icahn and Darwin Deason. Click Read More below for additional information.

Costco Wholesale Corporation reported net sales of $10.81 billion for the retail month of April, the four weeks ended May 6, 2018, an increase of 13.1 percent from $9.56 billion last year. For the thirty-five weeks of fiscal year 2018 ended May 6, 2018, the Company reported net sales of $92.24 billion, an increase of 12.2 percent from $82.24 billion last year. This year’s four-week April retail month had one additional shopping day versus last year, due to the calendar shift of Easter. This positively impacted total and comparable April sales by an estimated one and one half to two percent.

Unable to find a buyer for 72-year-old Vermont Life, the state’s Agency of Commerce and Community Development announced Thursday that it will cease printing the quarterly magazine after its summer issue. Vermont Life‘s status as a state-funded publication had made its future a subject of debate over the past year, with state lawmakers estimating that it ran an annual deficit of around $400,000. The state sought proposals for a sale last September, but officials said they elected to maintain ownership after finding none of the offers to be satisfactory. Click Read More below for additional information.

The Company reported fiscal 2018 third quarter total revenues of $2.10 billion, a 6% increase compared to $1.98 billion in the prior year period, reflecting strong growth in the Digital Real Estate Services and Book Publishing segments and a $70 million positive impact from foreign currency fluctuations. The growth was partially offset by lower print advertising and News America Marketing revenues at the News and Information Services segment. Adjusted Revenues (which exclude the foreign currency impact and acquisitions and divestitures as defined in Note 1) increased 2%. Net loss for the quarter was ($1.1) billion as compared to nil in the prior year. The loss was primarily driven by non-cash write-downs of $998 million related to Foxtel and FOX SPORTS Australia, as well as a non-cash impairment charge of $165 million at News America Marketing. Click Read More below for additional information.

The U.S. Postal Service reported total revenue of $17.5 billion for the second quarter of 2018 (January 1, 2018 - March 31, 2018), an increase of $235 million, or 1.4 percent, compared to the same quarter last year. Shipping and Packages revenue grew by $445 million, or 9.5 percent, while First-Class and Marketing Mail revenue fell by a combined $181 million. The Postal Service's results for the quarter continued to reflect multi-year trends of growth in Shipping and Packages volume and declining letter volumes, as package volume grew by 69 million pieces, or 5.0 percent, while mail volumes declined by 700 million pieces, or 2.1 percent, compared to the same quarter last year. Net loss for the second quarter totaled $1.3 billion, compared to a net loss of $562 million for the same period last year. Click Read More below for additional information.

These two major industry issues should have everyone’s attention: 1.A potentially significant change (not for the better) in how future postal rates are to be set; 2.The ramifications of a forthcoming Supreme Court ruling on the future of remote/internet sales taxes that could overturn over 50 years of precedent businesses nationwide have relied upon. Our industry must mobilize to take action to respond to these industry-wide threats! The time to do so is right now. Inattention will be costly. Without a concerted, coordinated response, the outcome for both will be dire. Click Read More below for additional information.

L Brands, Inc. reported net sales increased 4 percent to $751.6 million for the four weeks ended May 5, 2018, compared to net sales of $719.6 million for the four weeks ended April 29, 2017. Comparable sales for the four weeks ended May 5, 2018, were flat compared to the four weeks ended May 6, 2017, and were negatively impacted by the earlier Easter holiday this year by about 3 percentage points. The company reported net sales of $2.626 billion for the first quarter ended May 5, 2018, an increase of 8 percent compared to sales of $2.437 billion for the quarter ended April 29, 2017. Comparable sales for the first quarter ended May 5, 2018, increased 3 percent compared to the thirteen weeks ended May 6, 2017.

Gannett Co., Inc. announced that it entered into an agreement to acquire WordStream, Inc., a provider of cloud-based software-as-a-service (SaaS) solutions for local and regional businesses and agencies to optimize their digital marketing services campaigns. The purchase price is $130 million in cash, net of cash acquired, plus up to an aggregate $20 million earnout payable in 2019 and 2020 based on achieving certain revenue targets. The transaction builds upon Gannett’s existing data-driven digital marketing services, ReachLocal and SweetIQ. “This acquisition marks another critical milestone in Gannett’s digital transformation, enhancing our ability to support businesses and agencies in our local markets with the intelligent, data-driven marketing solutions they need to drive growth,” said Robert Dickey, president and chief executive officer of Gannett. “WordStream’s technology, extensive data and analytics capabilities together with an experienced executive team will bring tremendous value to Gannett’s expanding digital marketing services business.” Click Read More below for additional information.

Looking more closely at Meredith's fiscal 2018 third-quarter results compared to the prior-year quarter: •Meredith recorded pre-tax special items of $170 million, primarily comprised of restructuring, financing and transaction costs related to its acquisition of Time Inc. As a result, Meredith reported a loss from continuing operations of $95 million and a net loss of $110 million, compared to net earnings of $40 million. •Excluding special items, earnings from continuing operations were $33 million, compared to $40 million. (See Tables 1-5 for supplemental disclosures regarding non-GAAP financial measures.) •Adjusted EBITDA was $111 million, compared to $83 million. •Total company revenues from continuing operations were $649 million, compared to $425 million. Click Read More below for additional information.

On Wednesday, Senator Ed Markey (D-Massachusetts), Senate Majority Leader Chuck Schumer (D-New York) and others filed a motion to reinstate the rules. The effort, spearheaded by Markey, has garnered support from all 49 Senate Democrats as well as Republican Senator Susan Collins of Maine. If Senator John McCain (R-Arizona) -- currently on a medical leave of absence -- doesn't vote, the measure is poised to pass the Senate by one vote. But passage is considered unlikely, given that only 160 House members have so far said they support the bill -- leaving it far short of the 218 votes needed to pass. The latest effort to enshrine net neutrality protections comes five months after the Federal Communications Commission voted to repeal Obama-era regulations that classified broadband as a utility service and imposed some common carrier rules on providers. Among other restrictions, the regulations prohibited broadband carriers from blocking or throttling online traffic and from charging companies higher fees for prioritized delivery. Click Read More below for additional information.

Publishers’ revenue for trade (consumer) books increased by $96 million (+1.3%) to $7.6 billion in 2017. The growth in trade books is attributed to a +3.0% revenue uptick in the Adult Books category, which comprises more than 65% of all revenue for trade books. Revenue for Childrens/YA books and Religious Presses declined in 2017. Overall publisher revenue for 2017 was flat at $14.7 billion, up $57.5 million (+0.4%) from 2016. These numbers include sales for all tracked categories (Trade - fiction/non-fiction/religious, PreK-12 Instructional Materials, Higher Education Course Materials, Professional Publishing, and University Presses). Several categories that had declined in 2016 rebounded in 2017, including Adult Books, University Presses, and Professional Books. Click Read More below for additional information.

The U.S. Postal Service recognized Shutterfly Inc. with its Partnership for Growth Award on the final day of the National Postal Forum (NPF), the country’s premier mailing and shipping conference. The Partnership for Growth Award is given annually at NPF to recognize a strong mailing industry contributor that drives innovation and growth using USPS. Shutterfly was selected to receive this year’s Award by Postmaster General and CEO Megan J. Brennan and the USPS Executive Leadership Team. Shutterfly is being recognized for continuously working with the Postal Service to ensure the company reaches its customers using new and innovative technologies that increase the value of the mail. Click Read More below for additional information.

Total reported sales for the first quarter of 2018 were $2.8 billion compared to $2.7 billion in the first quarter of 2017, an increase of 6%. As a result of the CompuCom acquisition and focus on growing services revenue, the Company has enhanced its disclosure to report the breakdown between product sales and service revenues. Office Depot's service revenues now make up approximately 14% of the Company's total sales. In the first quarter of 2018, Office Depot reported operating income of $77 million and net income from continuing operations was $33 million, or $0.06 per share, compared to operating income of $124 million, net income from continuing operations of $74 million and $0.14 per share in the first quarter of 2017. Click Read More below for additional information.

Mohawk Fine Papers, Inc. introduced the fourteenth issue of its celebrated Mohawk Maker Quarterly at the HOW Design Live Conference in Boston, MA. Each issue of the Mohawk Maker Quarterly relies on a theme for its creative framework. Issue No. 14 of the Mohawk Maker Quarterly is titled Lead & Serve and celebrates those who pave the way by helping others find their paths. Consistent with the ongoing strategy behind the publication, this issue seeks to provide thought-provoking inspiration for graphic designers around the world through engaging content and carefully-considered design on paper. Issue No. 14 is the largest body of content to date, with 224 pages of words and images presented in the oh-so familiar form of a book. The 6.5 x 8.5” format is organized in four chapters, including Mohawk’s regular feature, The Movement; highlighting makers and their projects from around the world. The team at Hybrid Design in San Francisco, CA has struck a perfect balance between visual and word essays, all carefully curated to support this issue’s theme, Lead & Serve. Click Read More below for additional information.

Highlights for the first quarter: • As part of our transformation plan, on April 10, 2018, we launched a major national expansion with a reinvention of our Metro urban commuter newspapers and more robust digital offerings on thestar.com in Vancouver, Calgary, Edmonton, Toronto, Halifax and nationally. This expansion leverages the Star brand and its history and unique position of local and investigative reporting. • Ended the first quarter of 2018 with $51.5 million of cash and cash equivalents and $7.7 million of restricted cash; Torstar has no bank indebtedness. • Our net loss from continuing operations in the first quarter of 2018 was $20.9 million ($0.26 per share) compared to a net loss of $24.4 million ($0.30 per share) in the first quarter of 2017. Click Read More below for additional information.

In her keynote address opening the 50th Anniversary of National Postal Forum (NPF), Postmaster General and CEO Megan Brennan highlighted the Postal Service’s focus on meeting customer’s needs today, while anticipating their needs of tomorrow by continuing to invest in the future to create opportunities for growth and profitability for the entire industry. Brennan announced to thousands of customers at the Forum that nearly 10 million users are now enrolled in Informed Delivery, the Postal Service’s innovative daily mobile offering which allows users to see their incoming mail to be received later that day. “Informed Delivery broadens the definition of the mail moment by bridging the digital and physical – it allows consumers to connect to their physical mail anytime, anywhere,” said Brennan. “Informed Delivery is becoming part of the daily digital life of the American consumer. It builds anticipation of the physical mail piece, and allows marketers to increase their digital engagement with the consumer from a single mail piece.” Click Read More below for additional information.

A “perfect storm” of global events has resulted in long lead times for some paper grades – with mills resorting to allocation for the first time in over a decade – and printers and paper buyers have been warned to plan ahead for the rest of the year. The combination of factors affecting the supply of graphical papers includes increasing demand for pulp for other markets, such as tissue and hygiene products, which has pushed prices up to almost $1,200 (£883) a tonne. A year ago it was $700-$750. As well as pulp prices, other rising input costs for papermakers include chemicals and fillers. In recent years paper manufacturers have shut down paper machines in the face of declining demand, or converted lines to make other higher-value products, such as cartonboard. Click Read More below for additional information.

Even in the era of “there’s an app for that,” our largely tech-first culture is reclaiming timeless analog elements. Today the Paper & Packaging – How Life Unfolds® campaign unveils a new limited-edition print publication, Pod Papers Magazine, bringing podcasts to life in a way that has never been done before – in print. Complimentary copies of Pod Papers will be available exclusively in store at Barnes & Noble locations nationwide while supplies last. “Our culture, though increasingly digital, is in the midst of a moment of reflection. For many, turning digital into analog is helping fuel inspiration and creativity,” observes Mary Anne Hansan, president of the Paper and Packaging Board. “Pod Papers is our answer to this cultural moment – it’s meant to be pored over and become a keepsake.” Click Read More below for additional information.

InnerWorkings, Inc. announced that it is postponing the release of its first quarter 2018 financial results and conference call due to errors in its historical financial statements identified during the course of its first quarter financial reporting close process. The Company will be restating its financial statements for the years ended December 31, 2017, 2016, and 2015, and all interim periods within those years. The accounting errors relate primarily to recording a portion of costs of goods sold in the wrong period, and have no material impact on InnerWorkings’ cash flow, revenue, or liquidity. The restated financial statements will also correct other errors identified during prior periods, which were immaterial individually and in the aggregate. Click Read More below for additional information.

First Quarter 2018 Consolidated Results • Operating revenues were $723.0 million, compared to $773.5 million in the first quarter of 2017. • Favorable changes in foreign currency exchange rates benefited revenues by $7.5 million. • Same store, day adjusted (1) operating revenues declined 7.2%, an improvement compared to the 8.8% decline in the fourth quarter of 2017. The improvement was due to stronger digital advertising revenue and our strategic subscriber pricing initiatives. • Total digital revenues increased 9% to $255.5 million, or approximately 35% of total revenue. • GAAP net losses were $0.4 million, including $14.4 million of after-tax restructuring, asset impairment charges and other costs. Click Read More below for additional information.

An organization of western U.S. states and Canadian provinces is joining the call for the U.S. government to drop its preliminary duties on imported newsprint and book paper. The U.S. Commerce Department has imposed preliminary duties on Canadian uncoated paper that total more than 28 per cent. That’s adding greatly to the costs of U.S. newspapers that are already struggling, says the executive of the Pacific Northwest Economic Region, a group of government and private-sector representatives. PNWER members include B.C., Alberta, Saskatchewan, Yukon, Alaska, Washington, Oregon, Idaho and Montana, with a head office in Seattle. Its executive statement, released Thursday, notes that the U.S. paper industry has shifted away from newsprint as demand in the U.S. has declined by 75 per cent since 2000. Click Read More below for additional information.

AT&T plans to ask the Supreme Court to reverse a high-profile decision that restored the Federal Trade Commission's authority to prosecute broadband providers, the telecom said this week in court papers. The company's statement came in a status report submitted to U.S. District Court Judge Edward Chen in the Northern District of California. He is presiding over an FTC lawsuit alleging that AT&T duped millions of wireless customers by promising unlimited data, but throttling their speeds after they hit a monthly data cap. AT&T argued that the lawsuit should be dismissed on the ground that the FTC lacks authority over telecoms like itself. Click Read More below for additional information.

Order intake at 1,532.8 million euros (MEUR) reached a very favorable level and was thus only slightly below the high level of the previous year’s reference period (-1.7% versus Q1 2017: 1,560.0 MEUR). The Hydro, Metals, and Separation business areas saw very positive development and were able to achieve – partially significant – increases in order intake compared to the previous year. Sales decreased to 1,291.0 MEUR and were thus 6.9% below the level of the previous year’s reference period (Q1 2017: 1,386.2 MEUR). This is largely due to a decline in sales in Pulp & Paper (a large pulp mill project still had a significant impact on sales in the previous year’s reference period) and Metals (decline in sales due to the low order intake in the second and third quarter of last year). Click Read More below for additional information.

HMH reported net sales of $220 million for the first quarter of 2018, down $2 million compared to $222 million in the same quarter of 2017. The net sales decrease was driven by a $2 million decrease in our Education segment, partially offset by a slight increase in our Trade Publishing segment. Net loss of $101 million in the first quarter of 2018 was $19 million, or 16%, lower compared to a net loss of $121 million in the same quarter of 2017, due primarily to the same factors impacting operating loss and a favorable change in our tax provision of $9 million, from an expense of $14 million for the same period in 2017 to an expense of $5 million in 2018. Click Read More below for additional information.

Strong start to operating cash flow, at $216 million in the quarter; Continued revenue growth in managed document services and Global Imaging Systems operations; Adjusted operating margin of 10.4 percent, down 0.6 points year-over-year; operating margin, excluding equity income, up 0.5 points; Core operating profit, excluding equity income, grew 5 percent year-over-year. Click Read More below for additional information.

Total revenues for the first quarter of 2018 increased 3.8 percent to $413.9 million from $398.8 million in the first quarter of 2017. Subscription revenues increased 7.5 percent, while advertising revenues decreased 3.4 percent and other revenues increased 5.0 percent. Operating costs increased in the first quarter of 2018 to $378.0 million compared with $368.6 million in the first quarter of 2017, largely due to higher compensation costs, which was partially offset by lower print production and distribution costs. Adjusted operating costs increased to $358.5 million from $348.6 million in the first quarter of 2017. Click Read More below for additional information.

There is a bright future for printed books, a recent survey finds. According to the results, printed books will continue to be important, relevant, interesting and still very much appreciated compared to e-books and audiobooks. As one of the leading book paper and cover providers, Stora Enso conducted a study with 80 in-depth interviews in 13 countries across Europe, Asia and North America together with research company Opticom International. The aim was to gain a better understanding of the challenges and opportunities regarding book publishing and consumption. Participants included publishers, retailers, printers, merchants and new players such as audio and e-book publishers as well as companies that transfer physical books into digital format. “One of the main findings was that there is a positive future for printed books”, says Essi Lauri, VP, Head of Segment Newsprint & Book, in Stora Enso Paper division. Click Read More below for additional information.

Net revenues were $199.7 million, a 4% year-over-year increase. Shutterfly Consumer net revenues totaled $152.1 million, a 5% year-over-year decrease which was consistent with the Company's expectations of a mid-single digit decline in the first quarter of 2018 as indicated on prior earnings calls. Shutterfly brand growth was supported by strong performance in Photo Books as well as the Wedding Shop, which was launched in the third quarter of 2017, and was offset by anticipated revenue declines in the non-Shutterfly brands due to the platform consolidation and the brand shutdowns over the course of 2017. Shutterfly Business Solutions net revenues totaled $47.7 million, a 52% year-over-year increase. GAAP operating loss totaled $34.1 million and net loss was $27.2 million or a $0.83 loss per share. Adjusted EBITDA was $7.1 million, a $9.0 million year-over-year increase primarily due to growth in the Shutterfly brand and the benefits of the platform consolidation and restructuring. Click Read More below for additional information.

For the third quarter of 2018, total revenues increased 2.1 percent to $238.5 million compared with $233.7 million in the prior year period. On a comparable basis1 (adjusted for the sale of Fannie May Confection Brands, which closed on May 30, 2017) total revenues increased 10.2 percent. Comparable revenue growth was driven primarily by strong revenue growth of 8.9 percent in the Company’s Consumer Floral segment, combined with growth of 15.5 percent (adjusted for the sale of Fannie May) in the Company’s Gourmet Foods and Gift Baskets segment. Comparable revenue growth benefited from the shift of the Easter holiday into the period. Gross profit margin for the quarter was 39.2 percent, compared with 40.0 percent in the prior year period. Comparable gross profit margin for the prior year was 39.9 percent. Click Read More below for additional information.

SIMPLY YOU will offer 40+ women inspirational REAL-life stories and practical tips for self-improvement. The team behind Bauer Media’s best-selling real-life magazines Take a Break and that’s life are to launch a new title. Simply You, on sale on 3 May, will feature a unique mix of inspirational and engaging real-life stories, practical advice, cost-saving tips, health advice and high-street buys. Initially, Simply You will be published monthly from May as part of a three-month trial to establish the title in the marketplace. Click Read More below for additional information.

As a response to Google’s announced ad policy change for publishers on April 26, created in accordance with the European Union’s General Data Protection Regulation (GDPR) that goes into effect May 25, four publishing trade groups released a letter addressed to Sundar Pichai, Google CEO, that criticizes the demands placed on publishers as well as the lack of information provided by the company in their policy change. Top executives from Digital Content Next, European Publishers Council, News Media Alliance and News Media Association, representing publishers like Hearst, Conde Nast and National Geographic, expressed the concerns they share about the regulations placed on publishers who wish to continue using Google’s advertising services in the European Union. The three areas highlighted in the letter that pose the most concern and create uncertainty for the trade groups are Google’s Controller Terms, responsibility of obtaining legal consent, and the complete placement of liability of said consent on the publisher and not on Google. Click Read More below for additional information.

John Wiley and Sons Inc., announced its partnership with The Australasian Medical Publishing Company Pty Ltd (AMPCo) to publish the Medical Journal of Australia (MJA). The MJA is produced by AMPCo, a wholly owned subsidiary of the Australian Medical Association (AMA) — the most influential membership organisation representing registered medical practitioners and medical students of Australia. In the top 20 general medical journals globally, the MJA is the leading general medical journal in the Asia–Pacific region. The MJA covers issues surrounding Australian health care, clinical research and practices and developments within medicine. Wiley will assume online publishing and distribution responsibilities in January 2019. The partnership will provide institutional customers with access to the MJA via the Wiley Online Library platform. Click Read More below for additional information.

The Postal Regulatory Commission (Commission) issued its analysis of the United States Postal Service (Postal Service) fiscal year (FY) 2017 Annual Performance Report and FY 2018 Performance Plan. Each year, the Commission must review the Postal Service’s performance goals, evaluate whether the Postal Service met those goals in the previous fiscal year, and offer recommendations regarding the protection or promotion of public policy objectives. The Commission’s review finds that, for the first time, the Postal Service’s FY 2018 Plan complies with legal requirements, and the FY 2017 Report meets most of the requirements. The report further provides an in-depth evaluation of the Postal Service’s four performance goals: 1) High-Quality Service, 2) Excellent Customer Experiences, 3) Safe Workplace and Engaged Workforce, and 4) Financial Health, which either did not meet or only partially met FY 2017 targets. Click Read More below for additional information.

A new survey released by FedEx Office, a leading provider of printing, packing and shipping services and a subsidiary of FedEx Corp., shows that consumers and small business owners find comfort and prefer tangible, printed materials, despite an increasingly digital and on-demand society. More than nine in 10 consumers agreed there will always be a need for printed materials, with almost half (49 percent) of those surveyed saying a world without paper would make them feel stressed or annoyed. In the survey, FedEx Office explored the opinions of consumers and small business owners to learn more about their preferences and purchasing habits regarding professional printing services. Click Read More below for additional information.

The Association of American Publishers (AAP) welcomes the release of the 2018 Special 301 Report by the Office of the U.S. Trade Representative (USTR). The Report highlights key markets in which publishers have significant copyright concerns and face market-access barriers. The Report is a critical tool for policymakers to identify barriers that impede the ability of U.S. copyright owners to compete in foreign markets. The Report notes that the U.S. “remains deeply troubled by the ambiguous education-related exception to copyright that has significantly damaged the market for educational publishers and authors.” This overbroad fair dealing exception for education has led to systematic, uncompensated copying and confusing guidance to courts. Reform is necessary to instill balance into the law and ensure that authors and publishers are appropriately compensated for the use of their works. Click Read More below for additional information.

Total revenues in the first quarter of 2018 were $198.9 million, down 10.1% compared to the first quarter of 2017. Headwinds that impacted advertising included continued declines in print advertising and difficulties faced in retail advertising. Total advertising revenues were $99.9 million, down 16.7% in the first quarter of 2018 compared to the first quarter of 2017. Digital-only advertising revenues grew 21.6% and total digital advertising revenues were up 7.6% over the same period in 2017. Adjusted net loss, which excludes the items above, was $20.3 million. Adjusted EBITDA was $17.4 million, down 24.5% compared to the first quarter last year. Operating expenses were down 10.6% while adjusted operating expenses, which exclude non-cash and certain other charges, were down 8.4% compared to the same quarter last year. Click Read More below for additional information.

First Quarter Highlights • Total loans grew $6.9 billion (9%) from the prior year to $82.7 billion. • Credit card loans grew $5.8 billion (10%) to $65.6 billion, on Discover card sales volume of $30.9 billion. • Total net charge-off rate, excluding purchased credit-impaired ("PCI") loans, increased 48 basis points from the prior year to 3.17% and the total 30+ day delinquency rate excluding PCI loans increased 26 basis points from the prior year to 2.23%. • Consumer deposits grew $4.2 billion (11%) from the prior year to $41.3 billion. • Payment Services transaction dollar volume was $56.1 billion, up 19% from the prior year. Click Read More below for additional information.

Net sales increased 43% to $51.0 billion in the first quarter, compared with $35.7 billion in first quarter 2017. Excluding the $1.6 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 39% compared with first quarter 2017. Operating income increased 92% to $1.9 billion in the first quarter, compared with operating income of $1.0 billion in first quarter 2017. Net income was $1.6 billion in the first quarter, or $3.27 per diluted share, compared with net income of $724 million, or $1.48 per diluted share, in first quarter 2017. Click Read More below for additional information.

U.S. revenue increased 1% and international revenue, led by gains in EMEA and Asia-Pacific, increased 10%. International represented 44% of first quarter revenue. With the exception of U.S. public finance, every major ratings sector delivered revenue growth with the largest gain in structured products. Operating profit increased by 9% to $408 million. The operating profit margin improved 220 basis points to 55% compared to the first quarter of 2017. Adjusted operating profit increased 8% to $408 million. The adjusted operating profit margin improved 190 basis points to 55%. Click Read More below for additional information.

Bertelsmann continues to expand its educational activities in Brazil: The international media, services and education group is now the majority stakeholder in Affero Lab, having acquired the shares of the remaining founders of the Brazilian training company. IFC, a member of the World Bank and ALAC, a fund managed by IFC Asset Management Company, will remain minority shareholders. The partners have agreed not to disclose the financial details of the deal. Affero Lab is the biggest player in Brazil’s corporate training sector and offers digital solutions for learning as well as classroom-based and blended training solutions for companies. Around 500,000 people use its services every year. The company employs approximately 450 people mainly in São Paulo and Rio de Janeiro. Bertelsmann had already acquired around 40 percent of the shares in Affero Lab in 2015 and is now increasing its stake in a second step. Click Read More below for additional information.

Global learning company Houghton Mifflin Harcourt (HMH) announced today a partnership with education nonprofit City Year to launch HMH Classroom Corps, a unique multi-tiered program that provides employees with opportunities to connect with teachers and students in schools across the United States. Part of the company’s Corporate Social Responsibility program, HMH Classroom Corps will connect employees with local City Year chapters to host Learning Forums—interactive events focused on helping students build literary and math skills through hands-on activities. In March, HMH employees across three offices participated in the inaugural Learning Forums at P.S. 75 School of Research and Discovery in New York City, the Lake View YMCA in Chicago, and the Curtis Guild Elementary School in Boston. Volunteers guided elementary school students through literacy and STEM activities, including assembling geometric shapes using marshmallows and toothpicks, conducting volcano experiments, and performing short plays from HMH’s Readers’ Theater collection. Each student was able to select from hundreds of donated HMH books to take home. Click Read More below for additional information.

Unit sales of traditionally published e-books fell 10% in 2017, compared to 2016, according to figures released by PubTrack Digital, part of the NPD book group. The service, which tracks sales from about 450 publishers, said e-book unit sales hit 162 million last year, down from 180 million units in 2016. NPD reported that combining print sales from its BookScan service with PubTrack digital sales, e-books accounted for 19% of total units (both print and digital) last year, down from 21% in 2016. The top selling e-book among the trade publishers, it reported, was The Handmaid's Tale published by Houghton Mifflin Harcourt. Click Read More below for additional information.

For the total company in 1Q 2018: ◦Total revenue increased 10% to $17.1 billion, on strong demand for UPS solutions. ◦Average yield increased by 4.3%, led by International and U.S. Deferred Air products. ◦UPS rewarded shareowners by increasing dividends per share by nearly 10% over the prior year, and distributing $840 million during the quarter. ◦To support investment strategies the company made capital expenditures of $1.5 billion. ◦The lower effective tax rate reflects a more competitive U.S. tax structure, some discrete tax items and includes the impact of share-based compensation. Click Read More below for additional information.

The Coalition for Paper Options (CPO) – the only stand-alone coalition devoted exclusively to protecting citizen access to paper-based information – proudly welcomes its newest members: the Association for Print Technologies (formerly NPES) and the Idealliance. These new members have joined with Printing Industries of America, the American Forest & Paper Association, the Envelope Manufacturers Association and a host of individual corporations in the paper manufacturing, printing and mailing industries as financial supporters of the Coalition for Paper Options’ efforts to protect access to paper-based resources and information. “By supporting the Coalition for Paper Options, the paper, printing and mailing industry is speaking out in a loud and unified voice against government efforts to limit access to important paper-based information,” said John Runyan, executive director of the Coalition for Paper Options. “Our coalition, however, is not just about industry, as evidenced by a wide range of consumer, senior, and rural groups which are also active members. We are all united in making sure that our nation embraces technology without penalizing citizens who still need or prefer traditional access to paper-based services offered by government and the private sector.” Click Read More below for additional information.

Canadian Pacific Railway Limited has reached an agreement with both the Teamsters Canada Rail Conference-Train & Engine (TCRC) and the International Brotherhood of Electrical Workers (IBEW), which averts the potential work stoppage of 12:01 am Eastern time tomorrow, April 21, 2018. On the recommendation of federal mediators, the Minister of Labour will direct the Canadian Industrial Relations Board to administer a ratification vote on each of the company's final offers to the TCRC and IBEW. Click Read More below for additional information.

In the midst of technological advances, essential reading and writing skills are being somewhat lost in the process of keeping up with the latest ‘trend’. More than a quarter (26 percent) of American adults admit to not having read even part of a book within the past year. That's according to statistics coming out of the Pew Research Centre. Science supports the idea that reading is good for you on several levels. Reading fiction can help with an open-mind and creative thinking - According to research conducted at the University of Toronto, study participants who read short-story fiction experienced far less need for "cognitive closure" compared with counterparts who read nonfiction essays. Essentially, they tested as more open-minded, compared with the readers of essays. "Although nonfiction reading allows students to learn the subject matter, it may not always help them in thinking about it," the authors write. Click Read More below for additional information.

The University Press of New England’s Board of Governors has voted to close the press at the end of 2018. The Lebanon, N.H.-based press has 25 employees and distributes books for Dartmouth and Brandeis University. In a statement, Dartmouth president Phil Hanlon said, “The press has become unsustainable to operate with only two member-institutions.” Founded in 1970 as the University Press of Northern New England, the consortium was originally led by longtime publisher and Dartmouth alum Victor Reynolds. Under Reynolds, it grew to include members from all six New England states and was renamed the University Press of New England (UPNE). Click Read More below for additional information.

A protracted erosion in “print” media ad spending may be bottoming out, thanks in large part to the growth of digital. According to a new forecast released by Jack Myers TomorrowToday, a surge in demand for digital “print-originated” advertising will offset declines in “legacy print” -- the kind published in actual print -- by 2021. That digital will become print’s savior is a little more than ironic, since it was the explosion of content available via digital media that originally set analogue media-- especially print-- on a downward trend in terms of advertising demand. Click Read More below for additional information.

Newspapers across the country could be thinner or even disappear in the near future as news executives nationwide wrestle with disruptions in paper supplies and new tariffs on newsprint. Tariffs as high as 32 percent have been placed on imported newsprint from Canadian paper mills as the U.S. Commerce Department and the International Trade Commission investigate complaints of unfair trade practices leveled against Canadian suppliers by a Washington state-based paper company. Tariffs have driven up the cost of newsprint, a commodity that already has seen prices increase over the years because of high demand and low supply. Newsprint is generally the second-highest cost for newspapers after payroll. Click Read More below for additional information.

Select subscribers to People will receive an additional title in their mailboxes today: the debut issue of HelloGiggles the magazine—a print counterpart to the millennial-focused lifestyle brand co-founded by Zooey Deschanel and acquired by Time Inc. in 2015. Meredith Corp., which says the publication is slated to come out twice a year, distributed an initial run of 500,000 copies to People subscribers aged 18 to 39. Like its online content mix, the magazine will be geared toward millennial women with a focus on beauty, fashion, and pop culture. Click Read More below for additional information.

Supreme Court Justices Anthony Kennedy, Neil Gorsuch and Clarence Thomas had already indicated they favored overturning Quill before the case was heard. On Tuesday, Justice Ruth Bader Ginsburg suggested she would join them, calling the ruling “obsolete,” according to Yahoo Finance. Ginsburg said letting states tax online sales would equate to “equalizing sellers.” But Supreme Court Justices Sonia Sotomayor and Samuel Alito said the decision on ecommerce taxation should be left up to Congress, Yahoo reported. Sotomayor said the lack of a mechanism for collecting taxes directly from consumers was the real problem, not the Quill ruling. Click Read More below for additional information.

Net sales for the fourth quarter of fiscal 2018 decreased 3.1% to $512.2 million, compared to $528.4 million for the fourth quarter of fiscal 2017. Company comparable sales on a 13-week basis decreased 7.5% versus the year-ago period. Gross profit for the fourth quarter of fiscal 2018 totaled $189.7 million, or 37.0% of net sales, compared to $206.9 million, or 39.2% of net sales, for the fourth quarter of fiscal 2017. Click Read More below for additional information.

Barnes & Noble, Inc. announced that James Comey’s A Higher Loyalty is the top-seller in stores nationwide and online at BN.com just one day after the book’s release. “A Higher Loyalty was an instant bestseller before it ever arrived in our stores,” said Liz Harwell, Senior Director of Merchandising, Trade Books at Barnes & Noble. “Now that it’s here it is flying off the shelves. It’s one of the best pre-publication rollouts we’ve seen in many years, due to all of the publicity surrounding the book ahead of its publication yesterday.”

Publisher Springer Nature has confirmed it intends to list its shares on the Frankfurt Stock Exchange, targeting funds of approximately €1.2bn to strengthen its financial profile. The date of the initial public offering (IPO) has not been disclosed but the Financial Times suggests it is likely to take place in around four weeks. The company said it had group revenues of €1.64bn in 2017 and an underlying growth rate of 2.5% on an organic constant currency basis. Click Read More below for additional information.

On the heels of one of the most successful years in National Geographic magazine’s 130-year history, the iconic print publication is introducing (video HERE) a bold new redesign, with new visual story forms, thought-provoking essays, and even more stunning photography. The May issue, on print newsstands April 24 and available online at ngm.com, explores and illuminates the frontiers of our world, from the depths of the ocean to the frontlines of culture, always with an eye for understanding the people, places, and ideas that shape our planet. Through dynamic new sections, type faces, premium paper stock, and more of the breathtaking photography that has engaged audiences for over a century, the iconic yellow border will continue to offer a portal to the farthest reaches of the Earth and beyond. Click Read More below for additional information.

While the Internal Revenue Service (IRS) processes tax returns and begins implementation of tax reform, the agency continues its march to leave millions of taxpayers without easily accessible instructions to file tax returns. In 2011, the IRS discontinued mailing tax forms and the Tax Instruction Guide for individuals (Publication 17) to the public. In addition, they ended the long practice of equipping libraries or post offices with the printed instruction booklet. The only place to find the instructions on paper is through the Government Publishing Office, where a hard copy version can be ordered for $​10. These changes took place without Congressional oversight or public input. Click Read More below for additional information.

As the U.S. Supreme Court evaluates whether online retailers should collect sales taxes, industry groups continue to urge the court to overturn the tax break adopted in the pre-Internet era. On Tuesday, the court heard oral arguments on a 2016 South Dakota law that requires online merchants with more than $100,000 in sales to state residents, or 200 transactions with state residents, to collect sales tax. The law was struck down last year by South Dakota’s highest court, which cited the Supreme Court’s 1992 Quill Corp. v. North Dakota decision. In that case, the justices said online sellers can only be required to collect sales tax in states where they have a physical presence such as a store, office or warehouse. Part of their reasoning was that there were more than 6,000 state and local sales tax jurisdictions across the country and that the regulations were too complex for a seller to know how much to collect unless they were doing business locally. Click Read More below for additional information.

April 17, 2018 could be the day that transforms the way online retailers operate when the U.S. Supreme Court will hear the case South Dakota v. Wayfair Inc., et al. The court is expected to announce its decision in June. The case could overturn the 26-year-old precedent, established in Quill Corp. v. North Dakota, when the court ruled that Quill, a catalog retailer, did not have to collect sales tax in North Dakota because it had no physical presence in the state. South Dakota aims to overturn that precedent to force retailers to collect sales tax on online purchases regardless of whether they have a physical presence—such as a store or distribution center—in the state. Click Read More below for additional information.

Subject to Bankruptcy Court approval, a joint venture composed of the holders of the Company's 8.0% Second Lien Secured Notes due 2021 and Great American Group, LLC and Tiger Capital Group, LLC will acquire the inventory and certain other assets of the Company. A hearing by the Bankruptcy Court to approve the sale and wind-down of the Company's operations is scheduled for April 18, 2018. Bill Tracy, President and Chief Executive Officer, said, "While we are disappointed by this outcome and tried very hard to identify bidders interested in operating the business as a going concern, we are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact of this development on our associates, customers, vendors and the communities we serve. We are incredibly grateful to all of our associates for their dedicated service to Bon-Ton and to our millions of loyal customers who we have had the pleasure to serve as their hometown store for more than 160 years." Click Read More below for additional information.

The American Catalog Mailers Association (ACMA), a trade group whose members rely heavily on a healthy national postal service, applauds President Trump’s recent formation of a task force to craft recommendations to reform the US Postal Service and return it to a durable business model. Meaningful change will require Congress to pass postal reform legislation. History has shown that reform initiatives are always difficult to get enacted into law and are virtually impossible without broad support from the key stakeholder groups (postal customers, postal management and postal labor groups). Any meaningful recommendations need the support from as many of these stakeholders are possible. The ACMA hopes the Task Force work will include hearing all of these perspectives and needs. Click Read More below for additional information.

Three magazines were earned Pulitzer Prize winners Monday afternoon as part of the 102nd class of honorees, the fourth since the nation’s top journalism honors were first expanded to include glossies in addition to newspapers. The New Yorker‘s Ronan Farrow—whose reporting on Harvey Weinstein’s history of sexual assault and cover-ups were integral to the subsequent national discourse around the #MeToo movement—shared honors in the Public Service category with New York Times reporters Jodi Kantor and Megan Twohey. Last month, Farrow’s work similarly earned The New Yorker a National Magazine Award for Public Interest. Elsewhere in the 2018 class, GQ can now call itself a Pulitzer Prize winner. Click Read More below for additional information.

The USA TODAY NETWORK is celebrating three 2018 Pulitzer Prizes in the categories of explanatory journalism, local reporting and editorial writing. The Arizona Republic | USA TODAY NETWORK won for explanatory reporting for its project “The Wall: Unknown Stories, Unintended Consequences,” The Cincinnati Enquirer staff won for local reporting with “Seven Days of Heroin,” and The Des Moines Register’s Andie Dominick won for editorial writing. Click Read More below for additional information.

U.S. nonstore sales grew at a slightly slower clip in March than they did in February, new monthly data from the U.S. Commerce Department shows. What the agency calls “nonstore sales” reached $55.475 billion in March on a seasonally adjusted basis, a 9.7% increase compared with $50.573 billion in the same month of 2017. That’s a slightly lower increase than in February, when nonstores sale grew 10.2%. Click Read More below for additional information.

Meredith Corporation and Magenta launch Fortune Italy. The magazine will be distributed in Italy, Switzerland and Montecarlo, and will cover a range of topics from the economy and politics, to technology, startups and innovation. Through a license agreement with Meredith Corporation and Magenta, Fortune Italy will be published monthly in Italian. Fortune Italy will include features from the U.S edition of the magazine, as well as original content from its staff in Italy. Fortune Italy Senior Editor Fabio Insenga will lead the editorial staff and coordinate a team of internal editors and 25 contributors and correspondents. The magazine's first print edition will be available on newsstands June 2, 2018. Click Read More below for additional information.

Pub chain JD Wetherspoon has decided to quit it’s micro-blogging site, alongside Instagram, Facebook and Twitter with immediate effect. The company closed down its Twitter and Facebook accounts, which had 44,000 and 100,000 followers, respectively, as well as its Instagram feed, for all of its 900 pubs and head office. It added that recent concerns regarding the misuse of personal data, following the Facebook scandal, and the addictive nature of social media had influenced its decision. Tim Martin, Chairman of the pub chain told the BBC he believes that this action will not affect the business. In fact, after much consultation, more than 90% of the pub managers felt that using social media was not helping the business and the idea of social media as an essential tool to advertising was simply untrue. Click Read More below for additional information.

In the continuing escalation in his attack on Amazon, President Donald Trump issued an executive order yesterday for the establishment of a federal task force, led by Treasury Secretary Steven Mnuchin or his designee, to investigate the finances of the U.S. Postal Service (USPS), which has lost more than $65 billion during the past 11 consecutive fiscal years. The special commission is expected to submit a report on its findings and recommendations within 120 days. Some pundits argue that President Trump's tweets against the online retail juggernaut are politically driven, given that Amazon CEO Jeff Bezos also owns the Washington Post, which has been highly critical of Trump and his policies. Trump's ongoing public statements and tweets against Amazon, and how the online retailer is destroying the traditional brick-and-mortar retail industry, have negatively impacted Amazon's stock price. The main drag on USPS finances, in reality, has been the mandate that it pre-fund its retiree health care obligations to the tune of more than $38 billion. For the first time, last year the Postal Service missed payments it owes to the federal retirement system, for a combined total of $6.9 billion. Click Read More below for additional information.

John Wiley and Sons Inc. is pleased to announce a partnership with the March for Science, a global nonpartisan movement that highlights the critical role science plays in improving our lives, understanding our world, and informing policymaking in communities across the world. On April 14, 2018, more than 220 cities around the world will host marches where scientists and supporters of science can come together. At the rally in Washington, D.C., Wiley is sponsoring a tent on behalf of the National Council for Science and the Environment. Longer-term, Wiley will support Vote for Science, a new program that seeks to secure the long-term funding of science policy, by providing access to scholarly and scientific content. Wiley is proud to support these two organizations and the work they do to improve the impact of research in communities around the world. Click Read More below for additional information.

On April 5, a nine-person jury found an importer and reseller of counterfeit textbooks guilty of copyright and trademark infringement, and in breach of a previous cease and desist order. The lawsuit was filed by the Educational Publishers Enforcement Group against Book Dog Books and Robert William Management and their owner, Philip Smyres. In its decision, the jury awarded EPEG, which is comprised of Cengage, Pearson Education, John Wiley, and McGraw-Hill Education, a total of $34.2 million in damages, with $20 million for trademark infringement and $14.2 million for copyright infringement. Click Read More below for additional information.

Sears Holdings is set to shutter its last remaining store in Chicago. The news was first reported by The Chicago Tribune, which said the store, located on the edge of the Portage Park neighborhood, will close in mid-July, with a liquidation sale scheduled to start April 2. Sears was based in Chicago for more than 100 years. The store, which opened in 1938, was one of 265 properties sold to Seritage Growth Properties in a 2015 sale-leaseback deal, the report said. Click Read More below for additional information.

Despite a drop in sales in 2017 and store closings, the mood was mostly upbeat at the 2018 Diamond Retailer summit, held April 6-8 in conjunction with the C2E2 pop culture convention in Chicago. Many retailers indicated to PW that they are beginning to see a slight upturn in sales in recent months. But this comes after a year in which sales were down in every category. According to figures released by Diamond Comics Distributors—which distributes comics and graphic novels to a network of about 2,000 specialty comics shops around the country—periodical comics sales were down 10% in 2017 compared to 2016, graphic novels declined 9% and the number of direct market stores served by Diamond slipped about 1%. Click Read More below for additional information.

L Brands, Inc. reported net sales increased 7 percent to $1.020 billion for the five weeks ended April 7, 2018, compared to net sales of $951.4 million for the five weeks ended April 1, 2017. Comparable sales for the five weeks ended April 7, 2018, increased 4 percent compared to the five-week period ended April 8, 2017. The company reported net sales of $1.874 billion for the nine weeks ended April 7, 2018, an increase of 9 percent compared to sales of $1.717 billion for the nine weeks ended April 1, 2017. Comparable sales for the nine weeks ended April 7, 2018, increased 3 percent compared to the nine-week period ended April 8, 2017.

Costco Wholesale Corporation reported net sales of $12.92 billion for the month of March, the five weeks ended April 8, 2018, an increase of 10.9 percent from $11.65 billion last year. For the thirty-one weeks ended April 8, 2018, the Company reported net sales of $81.43 billion, an increase of 11.8 percent from $72.82 billion last year. This year’s five-week March retail-month had one fewer shopping day versus last year, due to the calendar shift of Easter. This negatively impacted total and comparable March sales by approximately one to one and one-half percent. Click Read More below for additional information.

Revenues from continuing operations for the quarter were $5.4 billion compared to revenues from continuing operations of $5.9 billion in the prior year's fourth quarter, a decrease of $509.1 million or 8.6 percent. Same store sales from Retail Pharmacy continuing operations for the quarter decreased 1.7 percent over the prior year, consisting of a 2.3 percent decrease in pharmacy sales and a 0.6 percent decrease in front-end sales. Net loss from continuing operations was $483.7 million or $0.46 per diluted share compared to last year's fourth quarter net loss from continuing operations of $25.1 million or $0.02 per diluted share. The decline in operating results was due primarily to $325 million of income tax expense relating to the revaluation of the company's deferred tax assets as a result of the 2017 Tax Act and a charge of $191 million, net of tax, for the impairment of goodwill related to our Pharmacy Services Segment. Click Read More below for additional information.

Incorporating both new editorial content and an elevated look and feel, the new SHAPE provides the service that today's woman desires: beauty and style advice that adapts to her busy life; ways to discover the joys of healthy and delicious eating; relatable tips for health and relationships; and innovative ways to keep her body strong and fit. The May 2018 issue, featuring actress Kate Mara on the cover, hits newsstands April 17. SHAPE Editor in Chief Elizabeth Goodman Artis led the reimagination of this iconic brand. "Today women want what we call the well-lived life, a more holistic approach to health and happiness," Goodman Artis said. "They know that nurturing one part of life feeds and refreshes another. We want SHAPE to reflect this philosophy." Click Read More below for additional information.

HP Inc. at the London Book Fair introduced HP Piazza, a pioneering set of independent and interlocking cloud-based services that enable publishers to make book manufacturing and distribution more time- and cost-efficient. Now, publishers can build a virtual warehouse for the management, automation, distribution, print, and direct fulfillment of book orders, while holding zero inventory. “Pearson is undergoing a digital transformation to become a simpler, more efficient business and our UK book supply chain is a key part of this,” said Stephen Jones, Pearson Director of Global Direct Procurement. “We are moving from a ‘print to warehouse’ to a ‘print to order, direct to consumer’ model. Partnering with our print providers, HP Piazza will support us in managing our print workflow and optimizing our book supply chain to help reduce costs and better serve our customers.” Click Read More below for additional information.

The Bon-Ton Stores, Inc. announced that it has received a signed letter of intent from an investor group composed of DW Partners, Namdar Realty Group and Washington Prime Group, pursuant to which the investor group proposes to acquire the Company as a going concern in a Bankruptcy Court-supervised sale process. The Company and the investor group are in the process of finalizing an asset purchase agreement in advance of an auction, which is now scheduled to be held on April 16, 2018. Bon-Ton is continuing to operate in the ordinary course as the Company completes its court-supervised restructuring process. Bon-Ton was required to provide notification under certain state and federal laws of potential job losses even as it works to complete a sale of the Company as a going concern, and is hopeful the sale process will preserve jobs. The Company's stores remain open and are continuing to serve customers. Click Read More below for additional information.

The Postal Regulatory Commission (PRC) issued its Annual Compliance Determination (ACD), a mandated assessment of the U.S. Postal Service’s compliance with pricing and service performance requirements in fiscal year 2017 (FY 2017). While the Commission acknowledges some areas of improvement, it identifies several compliance issues related to workshare discounts, noncompensatory Market Dominant products, Competitive products, service performance, and continued cost and service problems with flat-shaped mail (flats). Workshare Discounts: The Commission identified 42 workshare discounts with compliance issues. Out of the 42, 20 of the discounts did not comply with section 3622(e). No action by the Commission was required for 7 of the 20 workshare discounts because price changes aligned the discounts with avoided costs or the Postal Service eliminated the discount. Thirteen workshare discounts remained out of compliance prompting the Commission to direct the Postal Service to either align workshare discounts with avoided costs in the next Market Dominant price adjustment or specify an applicable statutory exception. Click Read More below for additional information.

Penguin Random House has named Madeline McIntosh, previously president of the Penguin Publishing Group, CEO of Penguin Random House US. The position is a newly created one. Additionally, Allison Dobson, formerly senior v-p of strategy and finance at Penguin Publishing Group, has been promoted to president of Penguin Publishing Group, succeeding McIntosh. Dohle, who will remain based in New York City, said the creation of McIntosh’s position speaks to “the size and importance of the U.S. business for Penguin Random House worldwide." He added: "Now is the right time for dedicated leadership in our U.S. market." Under the newly announced PRH structure, McIntosh, who will report to Dohle, will be responsible for all PRH US adult and children’s publishing groups (among them Crown, Knopf, Penguin, Penguin Young Readers, Random House, and RH Childrens). The publisher's operations, sales, author platforms, digital publishing development, and audio publishing departments will now report to McIntosh. Click Read More below for additional information.

American Catalog Mailers Association (ACMA) contends in an amicus brief filed with the Supreme Court of the U.S. today that a South Dakota law enacted two years ago is unconstitutional. Filing as a friend of the defendants in the case of South Dakota v. Wayfair, Overstock.com, and Newegg, the ACMA urged that the Quill v. North Dakota precedent be upheld. The case before the Supreme Court poses the question, “Should this Court abrogate Quill's sales-tax-only, physical-presence requirement?” The 1992 Quill decision affirmed the physical presence rule. The Supreme Court ruling upheld its 1967 ruling in National Bellas Hess v. Department of Revenue of Illinois. In 2016, South Dakota enacted its law that defies the Quill physical presence standard. “The authority of the states and their many localities to tax interstate commerce is unquestioned,” the ACMA brief says. “But the Commerce Clause prohibits actions that create excessive burdens impeding interstate commerce.” The brief goes on to say, “Overruling Quill would not only discourage efforts at uniformity, but it would also expose catalog retailers to significant past lability for transactions that already have occurred.” Click Read More below for additional information.

Bob Hoffman is a man worth listening to. Especially when he’s talking about advertising. Bob is an adland icon. The founder of the Hoffman/Lewis agency in California, he has created campaigns for McDonald’s, Shell, PepsiCo, Bank of America, you name it... The century-old Greater San Francisco Ad Club made him their “Ad Person of the Year” in 2012. And now Bob Hoffman is the man exposing the vast fraud of digital advertising. He has spoken out about a world where a single “bot” computer programme can generate a billion fraudulent ad impressions a day, without that ad ever having been viewed by human eyeballs. This great swindle is on track to become the second largest source of criminal activity in the world by 2025, second only to drug trafficking, Hoffman suggested recently. Click Read More below for additional information.

For the fifth consecutive year, Midland Paper will be a co-sponsor for Inkjet Summit 2018 to be held April 9-12 in Ponte Vedra, FL. The Inkjet Summit is an invitation-only, hosted event designed for senior managers and business executives who want to understand how inkjet technology trends, software, consumables and finishing solutions will impact their businesses and help them shape their strategies for the future. During the event, David Field, Midland Paper’s Senior Business Manager Inkjet Technologies, will present a ‘Case Study’ illustrating effective print media options across various production inkjet platforms. “The production inkjet equipment market continues to expand with OEM press announcements unveiled at a rapid rate, including a whole new wave of sheet fed inkjet options. In addition, new OEM inks are being developed for web and sheet fed configurations which can add to the complexity for printers who are aiming to make an inkjet equipment investment,” said Field. Click Read More below for additional information.

Amazon Web Services, Inc. (AWS), announced that Shutterfly, Inc. is moving its infrastructure to AWS—going all-in on the world’s leading cloud to power its Cloud Transformation initiative. Shutterfly chose AWS for its reliability, scale, and breadth of services that are already helping the company be more agile and flexible in meeting the needs of millions of consumers. Shutterfly is migrating all of its core production applications and its more than 75-petabyte image library to AWS, and is continually building new cloud-based applications. Shutterfly’s next-generation platform is also being developed on AWS, where it can leverage a wide range of AWS services, including machine learning and analytics, to deliver a more streamlined customer experience. “We evaluated all the major cloud providers, and chose AWS for its unmatched security, reliability, and breadth of services which allowed us to quickly migrate key assets, build cloud-based applications, and run our core services with ease,” said Satish Menon, Senior Vice President and Chief Technology Officer at Shutterfly, Inc. “We are especially excited about using AWS’s machine learning services. For example, we are currently experimenting with Amazon Rekognition for image classifications and metadata enrichment and Amazon Cognito for identity services. The cost savings we expect to see by running on AWS will enable us to put more resources towards innovation and developing our next-generation platform.” Click Read More below for additional information.

Publishers saw decreased revenue (-5.4%) in November 2017 vs. November 2016, but year-to-date revenue remains up (+1.1%) compared to Jan. - Nov. 2016 in all tracked categories. Tracked categories include: Trade - fiction/non-fiction/religious, PreK-12 Instructional Materials, Higher Education Course Materials, Professional Publishing, and University Presses. The year-to-date growth is primarily attributed to gains in the two largest categories: Adult Books, up $129.7 million (+2.9%) and Higher Education Course Materials, up $114.3 million (+3.8%). Publisher revenue for trade books was down for November by -4.0%, with declines in Adult, Childrens/YA and Religious Presses. Year-to-date, trade revenue is up by +1.0%, or $66.7 million. Click Read More below for additional information.

Midland Paper, Packaging & Supplies, one of North America's largest independent distributors of media for business communications, wrapped up a very successful Dscoop 2018 in Dallas Texas last week. Midland Paper unveiled three unique specialty products that created new and exciting print opportunities for the Dscoop participants: •Diamond Print Glitter - Eye catching, non-flaking, glitter paper that folds without cracking with unlimited print applications •Blanks Plastic Paper - Unique waterproof poly film used for menus, tags, cards, POP, signage and other graphic applications •Setalux HP - Printable book, magazine, catalog cover material as well as luxury packaging. “All three new products created a lot of “buzz” on the showcase floor. We couldn’t keep up with the requests for samples on the Diamond Print Glitter, while the Plastic Paper and Setalux HP were extremely popular." Click Read More below for additional information.

A petition with nearly 15,000 supporters is urging Walmart to bring Cosmopolitan magazine back to its checkout aisles, after a conservative group won its fight last month to get the publication away from those lanes in its 5,000 stores nationwide. “Cosmopoliton [sic] is a magazine for women — primarily staffed by women,” petition author Rebecca Gerber wrote. “The articles include empowering advice on money, careers, relationships, politics, fashion, activism — and yes, sex. Consensual sex. These are not subjects that women should made to feel ashamed to read,” she continued. “By publicly pulling Cosmo from checkout aisles, Walmart is telling women and girls that their sexuality is something to be embarassed of, that their interest in their own sexual education is obscene — and that their bodies and choice of clothing could be the cause of any harassment they receive.” NCOSE had previously stated that Walmart’s removal of Cosmo from checkout lines “is an incremental but significant step toward creating a culture where women and girls are valued as whole persons, rather than as sexual objects.” Click Read More below for additional information.

American Forest & Paper Association (AF&PA) President and CEO Donna Harman issued the following statement regarding the Internal Revenue Service (IRS) denying paper-based information and services. “The number of people who experienced identity theft while filing their taxes in 2016 is approximately the population of Anaheim, California or Tampa, Florida.[1] With news of data hacks and security breaches breaking regularly, government officials have increasingly turned to paper-based documents for added protection. “Citizens will be complying with new tax rules this year. Unfortunately, the IRS no longer makes printed instructions available unless ordered for payment. Readily available, printed instructions will be needed more than ever before as people prepare their tax returns given these changes. Click Read More below for additional information.

Shutterfly announced it has closed its previously announced acquisition of Lifetouch, the national leader in school photography. The company financed the acquisition with the proceeds of an $825 million incremental term loan facility, which closed simultaneous with the acquisition. “We are thrilled to welcome Lifetouch to the Shutterfly family, and are excited to bring together two undisputed leaders in adjacent verticals, both of which have the common mission of helping customers share life’s joy through photos,” said Christopher North, President & Chief Executive Officer of Shutterfly. “We are focused on realizing the three value creation opportunities that we previously articulated: gaining access to many Lifetouch customers as Shutterfly customers, offering Shutterfly’s broader product range to Lifetouch customers and accelerating the development of Lifetouch’s online platform, and realizing significant supply chain, manufacturing, and fulfillment synergies over time.” Click Read More below for additional information.

Torstar Corporation announced it is launching a major national expansion with a reinvention of its Metro urban commuter newspapers and more robust digital offerings in Vancouver, Calgary, Edmonton, Toronto, Halifax and nationally. The move represents a major investment in journalism, with Torstar hiring 20 new reporters to join existing Metro newsrooms in western Canada. Effective Tuesday, April 10, the Metro free daily newspapers will be rebranded as StarMetro Vancouver, StarMetro Calgary, StarMetro Edmonton, StarMetro Toronto and StarMetro Halifax. At the same time Torstar is significantly expanding its digital offerings in the five cities, backed by the award-winning journalism of the Toronto Star and thestar.com. Readers in each city will be directed to a city-specific version of thestar.com that will feature news of their city and region along with the investigations, columns, national and international news for which thestar.com is known. Consumers outside the target markets will see a national edition of thestar.com. Click Read More below for additional information.

"MXM has been an important contributor to Meredith's business over the years, and we are very proud of the groundbreaking work our employees have accomplished," said Tom Harty, President and CEO of Meredith Corporation. "However, given our recent acquisition of Time Inc. and our enhanced commitment to delivering consumer content across multiple media platforms, we believe MXM will be better positioned for growth with Accenture Interactive. They are excited about the business and the talented employees who will now become part of the Accenture team." Financial terms of the transaction are not being disclosed. Meredith said the transaction will not have a material effect on its fiscal 2018 financial results. The acquisition is expected to close within 60 days, subject to customary closing conditions. Click Read More below for additional information.

There has been little growth in total publishing sales in recent years in the U.S. and in most Western nations, and that difficult operating environment was reflected in the financial performance of three of the world’s largest publishers that have substantial holdings in the U.S. Penguin Random House and HarperCollins had small (less than 1%) declines in revenue in 2017 compared to 2016, while Lagardère Publishing’s sales inched up 1.1%. Simon & Schuster and Houghton Mifflin Harcourt’s trade division—the two smallest of the large publishers who report financial results—both did substantially better on both the top and bottom lines than their bigger rivals. Click Read More below for additional information.

A discount giant is closing the book on a women’s magazine — at least, across its checkout displays. Walmart is removing Cosmopolitan magazine from its checkout lines across more than 5,000 stores. The retailer’s decision is in response to a campaign against sexual violence spearheaded by the National Center on Sexual Exploitation. While the women’s magazine will no longer be available in checkout lanes, Walmart will continue selling the publication in its magazine section.

Forty-five-year-old Boulder Book Store in Boulder, Colo., was named the 2018 PW Bookstore of the Year by a panel of industry judges. The bookstore has been a pioneer in a number of industry initiatives. It was, for example, the first store to buy on Edelweiss and one of the pioneers in setting up consignment sections dedicated to specific publishers. Bookstore owner David Bolduc, who founded the bookstore in 1973, was also the co-founder of the country's first local first organization, the Boulder Independent Business Alliance. He co-founded the Boulder County Farmers' Market as well. "David has been a leader in many facets of our community," said Sean Maher, CEO of the Downtown Boulder Partnership, adding that the bookstore is "an absolute landmark. And we are thrilled that they are part of our community."

There are countless free newsletters in B2B publishing, as well there should be. Newsletters do great things. They are the number one traffic builder for most niche verticals, since social media and search only go so far in bringing hydrocarbon experts or facility managers to your site repeatedly. Sending daily - or at least weekly - newsletters keep people clicking through to your website, where hopefully you have effective contextual content and offers to get them to stick around. Each one also provides desirable advertising sales opportunities. You can’t have enough sub-niche newsletters in my book. This also keeps your brand vital in your market. If you send less frequently than weekly, your content remains an afterthought.

It has been a little over a year since Amazon began allowing third-party sellers to “win” the buy buttons on its book pages. Previously, orders placed using the main buy button on a book page were sourced directly from Amazon’s stock, thereby guaranteeing that publishers and authors would be paid for the purchases. But with the change, Amazon allowed orders placed using some buy buttons to be sourced from third parties, cutting authors and publishers out of those transactions. (Among the factors Amazon uses to determine who wins the buy button are price, availability, and delivery time.)

IWCO Direct, a leading provider of data-driven direct marketing solutions, today named Tedd Aurelius as vice president of sales. Aurelius will partner with current vice presidents of sales, Tom Hexamer and Jim Leone, to help lead IWCO Direct in creating new and expanded client engagements, and delivering on the company’s commitment to providing the highest level of service and results.

HarperCollins Publishers today announced that Judith Curr, formerly President and Publisher of Atria Publishing Group, will join the organization on April 2 as President and Publisher, HarperOne, Amistad, and Rayo. She will be based in New York, reporting to Brian Murray, President, and CEO, HarperCollins Publishers, and sit on the global executive committee.

To celebrate pre-K-12 public, private and homeschool educators and administrators, Barnes & Noble, Inc. (NYSE: BKS), the world’s largest retail bookseller, today announced the return of Educator Appreciation Days for every Saturday and Sunday in April. Starting Sunday, April 1, local stores will feature special discounts* for teachers and administrators such as 25% off most merchandise like books, toys and games. The offers will also be valid online at www.BN.com for purchases made on Saturday, April 28, and Sunday, April 29.

Cycle World magazine, the preeminent motorcycle journal, is proud to unveil a print redesign: a lush, high-quality quarterly focusing intently on the art of the motorcycle and the stories of people who create them, Cycle World’s Editor-in-Chief Mark Hoyer announced today. Design Director Ralph Hermens and Art Director Justin Page led the redesign effort. The larger-format, perfect-bound quarterly will continue to deliver the epic storytelling Cycle World is known for. The new Cycle World will celebrate the beauty and style of exceptional machines; captivating readers with compelling writing and stunning photography that they will want to display in their homes and return to again and again.

If you’re a fan of magazine-inserted scent strips, then we’ve got something that’s gonna blow your mind. If you’re one of those people that has to tear them out of magazines immediately due to impending nausea, read on if you’re a fan of kitschy promotions. If you’re neutral, well, everyone’s gotta take a stand on something someday, and magazine inserts are a relatively harmless place to start. With that longwinded intro out of the way, let’s take a deep dive into Old Spice’s latest high jinx.

Independent booksellers are expressing frustration and disappointment with Chronicle Books for its handling of comedian John Oliver’s Last Week Tonight with John Oliver Presents a Day in the Life of Marlon Bundo. Oliver announced the immediate availability of the book at the end of his Sunday, March 18 show, but to the surprise of independent booksellers, Oliver said that the book was only available at that time through Amazon. The illustrated children’s book about a gay bunny parodies the newly released Marlon Bundo’s Day in the Life of the Vice President by Vice President Mike Pence’s wife Karen and daughter Charlotte, which is told through the eyes of the family’s pet rabbit.

It really is “a beautiful day in the neighborhood” now that the U.S. Postal Service has immortalized Mister Rogers on a Forever stamp. Please share the news using the hashtag #MisterRogersStamp. Postmaster General Megan J. Brennan dedicated the stamp honoring Fred Rogers at the studio named in his honor where it all began 50 years ago — WQED’s Fred Rogers Studio in Pittsburgh. “Mister Rogers and his Neighborhood of Make-Believe made the ups and downs of life easier to understand for the youngest members of our society,” said Brennan. “In Mister Rogers’ Neighborhood, children learned, in a safe space, how to be a friend and create relationships. He shaped generations with his kindness and compassion. It’s why we honor him today.”

"The Postal Reform Act of 2018: Improving Postal Operations, Service, and Transparency" was introduced in the U.S. Senate yesterday as a bipartisan bill co-sponsored by Senators Tom Carper (D-Del.), Jerry Moran (R-Kan.), Heidi Heitkamp (D-N.D.) and Claire McCaskill (D-Mo.). If passed, the legislation would make sweeping changes to current rules and regulations that have led, in large part, to the dire long-term financial situation of the U.S. Postal Service, including 11 straight years of net losses and a net loss for its first quarter totaling $540 million - despite the USPS setting a record on Dec. 18, 2017, when more than 37 million packages were delivered, the most packages delivered in a single day in its more than 200-year history.

DC Entertainment, the publisher of Superman, Batman and Wonder Woman, announced it has signed an exclusive five-project deal (including at least two original book projects) with Frank Miller, acclaimed creator of the bestselling Batman graphic novel, The Dark Knight Returns. The deal will be announced during the DC Publishers panel, which will be live-streamed from the WonderCon convention in Anaheim, Calif., on Saturday. As part of the new deal, Miller will write Superman Year One, a new standalone graphic novel with art by John Romita Jr., in a story that DC says will redefine the Man of Steel for today’s fans. Also part of the new deal: Miller will write his first YA graphic novel, an untitled work with art by Ben Caldwell, that will star Carrie Kelley, a young girl first introduced in The Dark Knight Returns, who succeeds Robin as Batman’s partner.

Future plc, the global platform for specialist media, today announces the proposed acquisition of five specialist consumer titles from Haymarket Media Group for up to £14m. The five titles are, What Hi-Fi?, FourFourTwo, Stuff, Practical Caravan and Practical Motorhome. The intended acquisition of popular brand What Hi-Fi? provides an entry into the complementary audio visual market, whilst Stuff complements Future’s existing technology brands. The acquisition of Stuff is conditional on Competition and Markets Authority approval. These brands will present Future with the opportunity to continue its strategy of organic growth in line with its content monetization strategy.

Revenue at Scholastic rose 3% in the third quarter ended February 28, over the comparable period a year ago, from $336.2 million to $344.7 million. However, investments to improve the company’s profitability and one-time charges led to a net loss of $49.2 million in the most recent quarter, up from $15.4 million a year ago. Despite the higher loss, Scholastic chairman Dick Robinson said the company’s results were in line with expectations. He noted that Scholastic is upping its per-share earnings forecast for the fiscal year ending May 31.

America’s first woman in space, Dr. Sally Ride (1951–2012) inspired the nation as a pioneering astronaut, brilliant scientist, and dedicated educator. On June 18, 1983, Ride launched through Earth’s atmosphere aboard space shuttle Challenger, becoming the first American woman to reach space. For six days, she worked closely with her four male crewmates, proving to the world below that women were just as adept as their male counterparts in the final frontier.

"We have made significant progress executing on these initiatives since we closed on the acquisition just six weeks ago," said Meredith President and CEO Tom Harty. "For example, today we are announcing we have completed our portfolio review and decided to explore the sale of the TIME, Sports Illustrated, Fortune, and Money brands. These are attractive properties with strong consumer reach. However, they have different target audiences and advertising bases, and we believe each brand is better suited for success with a new owner. We are pleased with the inbound interest we have received, and we are confident these brands will be positioned for growth with an owner that shares Meredith's respect for editorial integrity and independence." Finally, Meredith announced headcount reductions, part of its plan to realize between $400 to $500 million of cost synergies from the Time Inc. acquisition. Approximately 200 employees have been notified that their positions have been eliminated. Additionally, Meredith said approximately 1,000 more positions will be eliminated over the next 10 months. Previously, Meredith announced the elimination of approximately 600 positions as it transitions subscription fulfillment operations to a lower-cost provider. These headcount reductions do not include the impact of any potential divestitures. Click Read More below for additional information.

Midland Paper, Packaging & Supplies, one of North America's largest independent distributors of media for business communications, will feature a brand new synthetic paper product line for HP Indigo print technologies at Dscoop 2018 in Dallas TX. Blanks/USA Plastic Paper is a waterproof poly film that can be used in a multitude of applications such as menus, maps, brochures, instruction manuals, tags and point-of-purchase signage. Blanks/USA Plastic Paper is manufactured in 8 mil, 12 mil and 16 mil constructions and is available in all HP Indigo sizes including B-2. These products can be easily folded, stitched, die-cut, drilled, UV coated and laminated. The entire product line has RIT 3 Star certification. Click Read More below for additional information.

“Execution of our long-term growth strategies, customer demand for the unique value of our broad portfolio of solutions and healthy growth in the global economy are driving our performance,” said Frederick W. Smith, FedEx Corp. chairman and chief executive officer. “We expect strong operating performance in each of our transportation segments in the fourth quarter.” Operating results benefited from higher base rates, increased volume at FedEx Ground and FedEx Freight, and a favorable net impact from fuel. Results were negatively affected by significantly higher variable compensation accruals, increased peak-related costs at FedEx Express and the impact of adverse weather. Variable compensation increased in connection with the company’s pay actions that were announced following the passage of the TCJA. These variable compensation accruals include the year-to-date impact of the announced changes. TNT Express integration expenses were also higher. Click Read More below for additional information.

Celebrating its 20th anniversary, Athleta announced it has earned B Corp Certification from the nonprofit B Lab, becoming one of the largest apparel companies in the world to certify as B Corp. B Corp Certification requires a holistic review of a business’ social and environmental performance, accountability and transparency, and is based on a vision of creating a community of for-profit companies committed to redefining success in business. “We believe with Athleta’s growth, comes even greater responsibility to lead as a force for good,” said Athleta CEO and President Nancy Green. ”Athleta has been at the forefront of empowering and celebrating women for two decades; this B Corp Certification accelerates our course forward as a purpose-driven brand, honoring our mission to ignite a community of healthy, confident, active women and girls; and cementing our commitment to environmental sustainability.” Click Read More below for additional information.

UPS led consortium has deployed a radical new charging technology in London that overcomes the challenge of simultaneously recharging an entire fleet of electric vehicles (EVs) without the need for the expensive upgrade to the power supply grid. The breakthrough signals the beginning of the end of a reliance upon traditional combustion engine powered vehicles by allowing UPS to increase the number of EVs operating from its central London site from the current limit of 65 to all 170 trucks based there. This major advance – believed to be the first time these systems have been deployed at this scale anywhere in the world – is the result of the ‘Smart Electric Urban Logistics (SEUL)’ project with UK Power Networks and Cross River Partnership, with funding secured from the UK’s Office for Low Emission Vehicles. “UPS thinks this is a world first, right in the heart of a mega-city. We are using new technology to work around some big obstacles to electric vehicle deployment, heralding a new generation of sustainable urban delivery services both here in London and in other major cities around the world,” said Peter Harris, director of sustainability, UPS Europe. “Electric vehicles are an integral component within UPS’s alternative fuel and advanced technology fleet. Our collaboration with UK Power Networks and Cross River Partnership marks a major turning point in the cost effective deployment of electric vehicles which in turn will play a key role in ensuring the global trend toward urbanization is sustainable. We are applying new technology to make the charging process smarter and our delivery service cleaner.” Click Read More below for additional information.

Midland Paper, Packaging & Supplies, one of North America's largest independent distributors of media for business communications, is excited to feature Diamond Print Glitter at Dscoop 2018 in Dallas TX. Diamond Print Glitter is a brand new product developed by Harmony Paper that is unlike any other product on the market. Offering a tactile finish, the shimmer and shine you expect from traditional glitter paper, with none of the shedding, flaking or cracking, Diamond Print Glitter application opportunities are endless. The 3 Star RIT rated sheet is made using environmentally friendly materials and proprietary, patent pending coatings in a process that allows a wide variety of substrate versions. The Diamond Print Glitter product line will be available from Midland Paper in sizes for both series 3 and series 4 HP Indigo presses. Click Read More below for additional information.

Kohl’s Kitchen Products scored two of the top five most remembered print ads placed in culinary magazines in December, based on data from GfK MRI’s Starch Advertising Research. In the epicurean category, the highest noted ad score—that is, the percentage of readers of an issue who recalled noticing the advertisement—went to a two-page ad for the book “At the Southern Table with Paula Deen,” which appeared in the December issue of Cooking with Paula Deen. It scored a 90 percent. Two separate gatefold ads for Kohl’s Kitchen Products (Food Network Magazine) checked in at 89 and 82 percent, and KitchenAid Multi Major Appliances (Food & Wine) had a score of 85. Click Read More below for additional information.

Unit sales of print books in the week ended Mar. 12, 2018, inched ahead 1% over the comparable week in 2017, at outlets that report to NPD BookScan. For the third consecutive week, the juvenile categories drove the sales gains. Unit sales in the juvenile nonfiction segment rose 8% over the week ended Mar. 11, 2017. Although children’s board books had a good week overall (unit sales were up 17%), two Chelsea Clinton titles helped lift sales in the category. She Persisted Around the World by Clinton and Alexandra Bolger sold more than 11,000 copies in its first week. The book is a follow-up to the pair’s She Persisted, which sold nearly 8,000 copies in the week, putting the titles in second and sixth place, respectively, on the category bestseller list. The release of the film A Wrinkle in Time pushed up two editions of the Madeleine L’Engle book into the first and sixth spots on the juvenile fiction bestseller list, helping raise unit sales in the segment 7%. Click Read More below for additional information.

For the Fourth Quarter of Fiscal 2017 • Net sales increased 22.6% to $1,937.6 million compared to $1,580.6 million in the fourth quarter of fiscal 2016. Excluding the impact of the 53rd week in fiscal 2017, net sales increased 15.7%; • Net sales in the 53rd week were $108.8 million and represented approximately $0.14 of diluted earnings per share; • Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 8.8% compared to an increase of 16.6% in the fourth quarter of fiscal 2016. The 8.8% comparable sales increase was driven by 6.2% transaction growth and 2.6% growth in average ticket; • Retail comparable sales increased 4.2%, including salon comparable sales growth of 3.2%; Click Read More below for additional information.

The streak of monthly bookstore sales declines reached six in January. According to preliminary estimates from the U.S. Census Bureau, bookstore sales fell 9.1% in January 2018 compared to the first month of 2017. Sales fell from $1.42 billion last year to $1.30 billion. The January drop followed sales declines in the last five months of 2017 compared to the same period in 2016. For all of 2017, bookstore sales fell 3.6%. Click Read More below for additional information.

Operating income for the fourth quarter of 2017 was $4.1 million compared to an operating loss of $8.1 million in 2016. Fourth quarter results include non-cash pretax asset impairment charges of $3.2 million in 2017 compared to $1.2 million in 2016. Excluding these charges, adjusted operating income for the fourth quarter was $7.3 million, up $14.3 million from the adjusted operating loss of $7.0 million in 2016 (see Note 1). Net loss for the fourth quarter was $0.4 million or $0.01 per diluted share compared to a net loss of $4.9 million or $0.11 per diluted share in 2016. Click Read More below for additional information.

Steve Lacy greeted me in his office as if we were old friends. A top executive at the Meredith Corporation, he was a main driver of the company’s $2.8 billion acquisition of Time Inc. last November. With that deal, the 116-year-old Meredith Corporation became the largest magazine publisher in America. When he spoke, it was clear Mr. Lacy took pride in Meredith’s unassuming corporate culture, so far removed from the New York magazine scene. “In Des Moines, Iowa, we don’t have to prove anything to anybody about the Meredith Corporation,” Mr. Lacy said. “We don’t have drivers. We’d look silly, and it would be not in keeping with who we are.” He added, “I presume you know that if I want a black car, I can get one.” Click Read More below for additional information.

Apple announced that it will acquire digital magazine subscription service Texture, adding another service into its repertoire of monthly-billed entertainment. Texture offers subscribers unlimited access to over 200 magazines, including titles such as The New Yorker, ESPN Magazine, Time and National Geographic. The terms of the deal were not disclosed. Having launched in 2010, as Next Issue, Texture was created in a collaborative effort by Condé Nast, Hearst, Meredith, News Corp., Rogers Communications and Time Inc., to provide a place for readers to access stories and entire issues of familiar titles while also introducing them to new publications. Click Read More below for additional information.

Fourth Quarter 2017 Results: • Record gross revenue was $301.0 million in the fourth quarter, an increase of 11% compared with $270.4 million in the fourth quarter of 2016. • Gross profit (net revenue) was $71.3 million, or 23.7% of gross revenue, in the fourth quarter, an increase of 4% compared to $68.7 million, or 25.4% of revenue, in the same period of 2016. Full-Year 2017 Results and Recent Highlights: • Gross revenue was $1,136.3 million in 2017, an increase of 4% compared with $1,090.7 million in 2016. • Gross profit (net revenue) was $278.3 million, or 24.5% of gross revenue, in 2017, a 6% increase compared to $263.5 million, or 24.2% of revenue, in 2016. • Net income in 2017 was $19.0 million, or $0.35 per diluted share, compared to $4.4 million, or $0.08 per diluted share, in 2016. Click Read More below for additional information.

Seeking to preserve the Obama-era net neutrality rules, the mayors of 12 cities have signed a pledge stating that they will attempt to procure broadband service from companies that don't block or throttle traffic, and don't charge companies higher fees for prioritized delivery. The pledge -- written by Mayors Bill de Blasio of New York, Ted Wheeler of Portland and Steve Adler of Austin -- also includes a promise to encourage consumers to use Internet service providers that follow net neutrality principles. The city leaders created a website -- MayorsForNetNeutrality.org -- and are asking other mayors to publicly declare their support net neutrality. "Cities cannot allow private internet service providers to be the gatekeeper between our residents and the local government services on which they depend every day," the pledge states. Click Read More below for additional information.

Sales at the Hachette Book Group rose 2.7% last year, parent company Lagardere reported. The increase was attributed in part to contributions from Perseus (where You Are a Badass sold over 648,000 print copies) and its Nashville-based imprints (where The Shack had strong sales). HBG also benefited from a full year ownership of Perseus, which it acquired at the end of March in 2016. Earlier this year. Lagardere reported that total revenue in the publishing group was €2.29 billion, up 1.1% over 2016. In its release Thursday, the company said EBIT (earnings before interest and taxes) rose 1.0%, to €210 million. Similar to the sales gain, Lagardere said the profit improvement was "mainly attributable to a strong performance in the United States," driven by "successful releases" as well as continued profitability gains from the consolidation of Perseus. Click Read More below for additional information.

Nordstrom announced that it's acquiring two leading retail technology companies: BevyUp, a digital selling tool, and MessageYes, a platform rooted in conversational commerce. More specifically, BevyUp is a platform that allows sales associates to communicate with each other on the back end, and encourages shoppers to share information with each other and browse items together online. Its digital selling platform will be incorporated into a new mobile app for Nordstrom's employees, rolling out next year, the companies said. MessageYes offers brands the opportunity to send shoppers more personalized notifications, with their consent, while they browse online. Shoppers can ultimately respond "Yes" to one of Nordstrom's messages to instantly buy products from their phones. Click Read More below for additional information.

L Brands, Inc. reported net sales of $853.9 million for the four-week period ended March 3, 2018, compared to net sales of $765.5 million for the four-week period ended Feb. 25, 2017. Comparable sales for the four weeks ended March 3, 2018, increased 3 percent compared to the four weeks ended March 4, 2017. The company has authorized a new $250 million share repurchase program, which includes the remaining $23.1 million outstanding under the previous program.

The study, released by the influential marketing analytics specialists, states that Advertisers should re-evaluate the use of traditional media such as radio, newspapers and magazines based on new research by the independent marketing and media consultancy. In the first report of its kind, Re-evaluating Media reveals radio, newspapers and magazines perform significantly better than they are perceived to for brand building campaigns. TV and radio are by far the strongest advertising media for brand-building followed by newspapers, magazines and out-of-home. Yet it discovered that industry decision-makers believe that online video and social media are the second and third most effective media after TV. Click Read More below for additional information.

Reported net income for the quarter was $701 million, or $1.59 per diluted share, compared to $515 million, or $1.17 per diluted share, last year. Earnings per share increased $0.17 due to a net income tax benefit of $74 million, as a result of the new tax laws. Excluding this benefit, net income grew 22%. Net income for the first 24 weeks of fiscal year 2018 was $1.34 billion, or $3.04 per diluted share, compared to $1.06 billion, or $2.41 per diluted share, last year. For the four-week reporting month of February, ended March 4, 2018, the Company reported net sales of $10.21 billion, an increase of 12.8 percent from $9.05 billion during the similar period last year. For the twenty-six week period ended March 4, 2018, net sales were $68.51 billion, an increase of 12.0 percent from $61.18 billion during the similar period last year. Click Read More below for additional information.

Urban Outfitters, Inc. announced net income of $1 million and $108 million for the three months and year ended January 31, 2018, respectively. Earnings per diluted share were $0.01 and $0.96 for the three months and year ended January 31, 2018, respectively. For the three months ended January 31, 2018, adjusted net income was $75 million and adjusted earnings per diluted share were $0.69. Total Company net sales for the fourth quarter of fiscal 2018 increased 5.7% over the same period last year to a record $1.09 billion. Comparable Retail segment net sales increased 4%, driven by strong, double-digit growth in the digital channel partially offset by negative retail store sales. By brand, comparable Retail segment net sales increased 8% at Free People, 5% at the Anthropologie Group and 2% at Urban Outfitters. Wholesale segment net sales increased 6.3%. For the year ended January 31, 2018, total Company net sales increased to $3.6 billion or 2.0% over the prior year. Comparable Retail segment net sales were flat. Wholesale segment net sales increased 9.5%. Click Read More below for additional information.

•Net sales increased 15% for the quarter and 5% for the year, including the additional week •Comparable sales increased 9% for the quarter and 3% for the year, with Hollister up 11% and Abercrombie up 5% for the quarter •Operating income more than doubled to $140.3 million for the quarter and increased to $72.1 million for the year. Click Read More below for additional information.

Amazon.com, Inc. announced plans for the first Missouri fulfillment center to be located in St. Peters, creating more than 1,500 full-time jobs with benefits and opportunities to engage with Amazon Robotics in a highly technological workplace. Amazon currently operates a sortation center in Hazelwood, where it employs hundreds of associates. “We’re excited to continue growing our team with our first, state-of-the-art fulfillment center in Missouri,” said Sanjay Shah, Amazon’s Vice President of North America Customer Fulfillment. “Our ability to expand in Missouri is the result of two things: incredible customers and an outstanding workforce. Amazon is committed to providing great opportunities for employment and creating a positive economic impact for the region.” Click Read More below for additional information.

S&P Global announced it has entered into a $1 billion accelerated share repurchase agreement with Morgan Stanley & Co. LLC. The transaction is expected to be completed in the third quarter of 2018. The Company is using available cash to fund the accelerated share repurchase transaction. Since the 50 million share repurchase authorization from the Board of Directors in 2013, S&P Global has repurchased 31.6 million shares. Click Read More below for additional information.

Nordstrom announced a partnership with Anthropologie to introduce more than 200 items from Anthropologie Home at select Nordstrom full-line stores and on Nordstrom.com, beginning March 19th. The Anthropologie Home collection will encompass categories including kitchen, dining and entertaining, bed and bath textiles, room décor, stationery and hardware. "We are thrilled to be launching the best of Anthropologie Home into 15 Nordstrom stores and on Nordstrom.com. Home is a category we continue to evolve and being Anthropologie's partner will allow us to introduce dynamic home product with a regular cadence," said Gemma Lionello, executive vice president and general merchandise manager, Nordstrom. "We look forward to providing our customers with another way to shop one of their favorite home brands." Click Read More below for additional information.

Target Corporation announced its fourth quarter and full-year 2017 results. The Company reported GAAP earnings per share (EPS) from continuing operations of $2.02 in fourth quarter and $5.32 for full-year 2017, compared with $1.46 and $4.58 in 2016, respectively. Fourth quarter Adjusted EPS were $1.37, compared with $1.45 in 2016. Full-year Adjusted EPS were $4.71, compared with $5.01 in 2016. The attached tables provide a reconciliation of non-GAAP to GAAP measures. All earnings per share figures refer to diluted EPS. "Our fourth quarter results demonstrate the power of the significant investments we've made in our team and our business throughout 2017. Our team's outstanding execution of Target's strategic initiatives during the year delivered strong fourth quarter traffic growth in our stores and digital channels, which drove healthy comparable sales in every one of our five core merchandise categories," said Brian Cornell, chairman and chief executive officer of Target Corporation. Click Read More below for additional information.

Conventional retailers are working with industry groups to overturn a tax break that benefits e-commerce brands. On Monday, the Retail Industry Leaders Association public policy organization called Retail Litigation Center, along with more than 20 retail and wholesale trade associations, filed a document to overturn a rule that the Supreme Court adopted in the pre-Internet era. Specifically, the group hopes to influence the court to reverse special tax breaks given to online retailers. The brief highlights the pending Supreme Court case, South Dakota v. Wayfair, Overstock, and Newegg, which seeks to repeal the law that keeps states from collecting sales tax from online purchases unless those retailers have a physical presence within their state. Click Read More below for additional information.

After 51 years in print, Institutional Investor will scrap its paper edition and go digital-only after its April issue, the financial magazine announced this week. The decision comes as the result of “sustained and substantial growth in online reader traffic,” and increased demand among advertisers for digital marketing solutions, according to a statement. “Asset managers and allocators have an increased desire to consume content and market digitally, given the ease of access, efficient targeting, and generational change in the industry,” said Institutional Investor CEO Diane Alfano in the statement. “It’s exciting to watch the evolution of our business and the shift from print to community.” Click Read More below for additional information.

John Wiley & Sons, Inc. announced results for the third quarter ending January 31, 2018. • Third quarter revenue up 4% to $455.7 million, or down 1% at constant currency • Third quarter GAAP EPS up 45% to $1.19 primarily due to impact of the US Tax Act; Adjusted EPS down 14% at constant currency • Year-to-date revenue up 4% to $1,318.9 million, or up 1% at constant currency • Year-to-date GAAP EPS $2.39 compared to $1.15 in prior year; Adjusted EPS at constant currency up 1%. Click Read More below for additional information.

Meredith, now the nation’s largest magazine publisher, will slash magazine frequency and circulation levels and close print titles if a proposed 40 percent hike in postal rates over the next five years takes hold, its chief executive Thomas Harty said. The Postal Regulatory Commission is proposing price hikes from 34 to 41 percent for second-class mail, known as periodicals class. A vote is expected this spring. “The proposed increased for the periodical class will require Meredith to pursue magazine closures, circulation cuts, issue frequency reductions, conversions to digital-only formats and alternate delivery for some magazine subscription copies,” Harty said in testimony submitted to the PRC. Click Read More below for additional information.

This year, Amazon will celebrate its third year fulfilling customer orders out of Illinois and surpassing the milestone of 10,000 full-time employees in the state with job opportunities for people with all types of experience, education and skill levels—from human resources, engineers and facilities technicians, to those seeking entry-level positions and on-the-job training. We couldn’t be prouder to be part of the Illinois family. Our team in the Land of Lincoln has been instrumental in providing outstanding customer experiences, raising the bar on our operational excellence, and continuing to innovate on behalf of the customer. We feel fortunate to have been able to create more than 10,000 jobs in just three years and gratified by the amazing support we’ve received from the community,” said Sanjay Shah, Amazon’s Vice President of North America Customer Fulfillment. Click Read More below for additional information.

Four titles shared the rank of top print audience performers in November 2017, according to the latest GfK MRI’s issue Specific (IS) Readership Study. Forbes, Men’s Journal, New York Times Magazine and People received IS scores of 140. Forbes magazine’s Nov. 14 issue (IS audience: 9,115,000) featured an “exclusive interview” with Donald Trump, titled “Inside Trump’s Head.” Men’s Journal’s (3,645,000) Nov. 17 issue featured Thor star, Chris Hemsworth, and how he got “ripped” to play Marvel’s action hero while maintaining a “down-to-earth” persona. The Nov. 5 issue of New York Times Magazine (5,840,000) featured Barack Obama on their illusion cover that imitated a turning page and posed the simple headline question “Why Can’t Democrats Turn The Page?” Entertainment magazine People (53,061,000) featured their Sexiest Man Alive in the Nov. 27 issue, which announced Blake Shelton as the 2017 title holder. Click Read More below for additional information.

HarperCollins Publishers announced it has acquired the trade book assets of AMACOM from the American Management Association International (AMA). HarperCollins will take over all front list and backlist publication, sales, distribution, and licensing of the more than 600 books in AMACOM's catalog. AMACOM, which primarily focuses on personal and professional growth and business leadership, will be a sub-imprint of the recently launched HarperCollins Leadership (HCL) imprint, which is run out of the company's Nashville, TN offices. Financial details of the acquisition were not disclosed. "Business, management and leadership are key growth areas for HarperCollins internationally," said Brian Murray, President and CEO of HarperCollins Publishers. "The purchase of AMACOM's trade publishing will allow us to broaden our catalog of books with potential in emerging markets, from Asia to South America. It is a natural fit for our expanding publishing programs." Click Read More below for additional information.

The company’s fourth quarter fiscal year 2017 comparable sales were up 5 percent compared with an increase of 2 percent last year. Comparable sales by global brand for the fourth quarter of fiscal year 2017 were as follows: • Old Navy Global: positive 9 percent versus positive 5 percent last year • Gap Global: flat versus flat last year • Banana Republic Global: positive 1 percent versus negative 3 percent last year. For fiscal year 2017, the company’s comparable sales were up 3 percent compared with a decline of 2 percent last year. Comparable sales by global brand for fiscal year 2017 were as follows: • Old Navy Global: positive 6 percent versus positive 1 percent last year • Gap Global: negative 1 percent versus negative 3 percent last year • Banana Republic Global: negative 2 percent versus negative 7 percent last year. Click Read More below for additional information.

Nordstrom, Inc. reported fourth quarter earnings per diluted share for the fourth quarter ended February 3, 2018 of $0.89, which included impacts associated with corporate tax reform consisting of a $0.25 charge primarily related to its income tax provision and a one-time pretax investment in its employees of $16 million or $0.06. Net sales for the fourth quarter increased 8.4 percent, inclusive of approximately $220 million related to the 53rd week, and comparable sales increased 2.6 percent. For fiscal 2017, earnings per diluted share was $2.59, including corporate tax reform-related reductions of $0.31. Earnings were in-line with the Company's prior outlook of $2.90 to $2.95, which did not incorporate the impacts related to corporate tax reform. Net sales increased 4.4 percent and comparable sales increased 0.8 percent, slightly exceeding the Company's prior outlook for sales growth of approximately 4.2 percent and comparable sales increase of approximately 0.5 percent. Click Read More below for additional information.

Full Year 2017 Results: Total net sales decreased (0.3) % to $12.51 billion compared to $12.55 billion last year. Comparable sales increased 0.1 % for full year 2017. The slight decline in total net sales was primarily due to store closures in 2017, most of which closed in the first half of the year, and was partially offset by incremental sales for the 53rd week. Net loss was ($116) million, or ($0.37) per share, compared to net income of $1 million, or $0.00 per share last year. This reduction was driven primarily by restructuring charges associated with the fiscal 2017 store closures and voluntary early retirement program. Click Read More below for additional information.

Even as consumer time spent with media continues to expand -- inching up 0.3% last year -- the percentage of time consumers spend with ad-supported media continues to decline, according to the 2018 edition of an annual report tracking and forecasting consumer media usage. The study, which was previewed by Research Intelligencer, comes as a major industry futurist -- Publicis’ Rishad Tobaccowala -- predicts that ad-supported media exposure is about to experience a cliff effect, declining as much as 30% over the next five years as consumers shift their attention to non-ad-supported media. The good news is that the total amount of time Americans spent consuming media rose to 70.7 hours per week last year. The bad news for Madison Avenue is that the share of time spent with ad-supported media fell to 44.4%, its lowest point ever. Click Read More below for additional information.

Earnings per share for the 14-week fourth quarter ended Feb. 3, 2018, were $2.33 compared to $2.18 for the 13-week quarter ended Jan. 28, 2017. The extra week in 2017 represented approximately $0.10 per share. Fourth quarter operating income was $986.6 million compared to $987.6 million last year, and net income was $664.1 million compared to $631.7 million last year. Net sales were $4.823 billion for the 14-week fourth quarter ended Feb. 3, 2018, compared to $4.489 billion for the 13 weeks ended Jan. 28, 2017. Comparable sales for the 14-week fourth quarter ended Feb. 3, 2018, increased 2 percent compared to the 14 weeks ended Feb. 4, 2017. The extra week in 2017 represented approximately $160 million in sales. Click Read More below for additional information.

Best Buy Co., Inc. announced results for the 14-week fourth quarter (“Q4 FY18”) and 53-week year ended February 3, 2018 (“FY18”), as compared to the 13-week fourth quarter (“Q4 FY17”) and 52-week year ended January 28, 2017 (“FY17”). The company reported Q4 FY18 GAAP diluted earnings per share from continuing operations of $1.23, which included the negative impact from items related to the Tax Cuts and Jobs Act of 2017 (“tax reform”) of approximately $1.17 in diluted earnings per share. Non-GAAP diluted earnings per share from continuing operations for Q4 FY18 were $2.42, an increase of 25% from $1.93 in Q4 FY17. “We are excited to report strong results for the fourth quarter and the year,” said Hubert Joly, Best Buy chairman and CEO. “We are especially proud of our 9.0% comparable sales growth in the quarter, which brings our annual comparable sales growth to 5.6% for the year. Customers are responding very positively to our Best Buy 2020 strategy, and I want to enthusiastically thank all our associates for their great work in delivering these results. The level of energy and dedication to serving customers that I see across the company is truly inspiring.” Click Read More below for additional information.

Publishers saw increased revenues in October, up $251 million (+27.6%) for October 2017 vs October 2016. The strong month brings revenues for Jan. – Oct. 2017 to $12.44 billion, up +1.7% for the year-to-date. Every category saw an increase in revenues for Oct. 2017, which include sales to bookstores, wholesalers, direct to consumer, online retailers, etc.) Trade books are up +16.5% for Oct. 2017 vs Oct. 2016 and 1.6% year-to-date. The greatest growth in the trade category was adult books, which saw $123.5 million (+25.8%) revenue growth. Publishers report that the significant increase is due to several factors including the book debuts from well-known authors. Click Read More below for additional information.

Total sales for the third quarter were $1.2 billion, declining 5.3% as compared to the prior year. Comparable store sales decreased 5.8% for the quarter, primarily due to lower traffic. Comparable store sales trends did improve in January, declining 3.5%. The consolidated third quarter net loss was $63.5 million, or $0.87 per share, as compared to prior year net earnings of $70.3 million, or $0.96 per share. Third quarter results include a non-cash goodwill impairment charge of $133.6 million, and a severance charge of $10.7 million associated with the Company's transition to a new labor model. Click Read More below for additional information.

Select Preliminary Unaudited Fourth Quarter 2017 Highlights • Gross revenue is expected to be between $303 million and $308 million in the fourth quarter, an increase of 12 to 14% compared with $270.4 million in the fourth quarter of 2016. • Gross profit (net revenue) is expected to be between $74 million and $75 million in the fourth quarter, an increase of 8 to 9% compared to $68.7 million in the same period of 2016. Select Preliminary Unaudited Full Year 2017 and Recent Highlights • Gross revenue is expected to be between $1,138 million and $1,143 million in 2017, an increase of 4 to 5% compared with $1,090.7 million in 2016. • Gross profit (net revenue) is expected to be between $281 million and $282 million, a 7% increase compared to $263.5 million in 2016. Click Read More below for additional information.

For the fourteen weeks ended February 3, 2018 ("the fourth quarter"), the Company reported net income of $28.0 million, or $0.22 per diluted share, compared to net income of $13.5 million, or $0.10 per diluted share, for the thirteen weeks ended January 28, 2017 ("last year's fourth quarter"). For the fourth quarter, gross margin was $221.6 million, or 37.7% of net sales, compared to $213.4 million, or 35.5% of net sales, in last year's fourth quarter. This 220 basis point increase primarily reflects a 170 basis point improvement in merchandise margin driven by lower average unit costs and a reduction in store occupancy costs. Click Read More below for additional information.

Total reported sales for the fourth quarter of 2017 were $2.6 billion compared to $2.7 billion in the fourth quarter of 2016, a decrease of 5%. Sales for the full year 2017 were $10.2 billion, a decline of 7% compared to the prior year. Fourth quarter and full year 2016 results benefited from an additional 53rd week sales of approximately $143 million and have been removed from our adjusted sales change below. In the fourth quarter of 2017, Office Depot reported operating income of $59 million. The Company recognized a net loss from continuing operations in the fourth quarter of 2017 of $48 million, or $0.09 per diluted share, resulting from a net tax expense of approximately $68 million associated with changes to the Company’s U.S. deferred tax assets and tax valuation allowance due to recent tax law reform. Click Read More below for additional information.

Highlights for the fourth quarter: • Ended 2017 with $71.4 million of cash and cash equivalents as well as $9.1 million of restricted cash; Torstar has no bank indebtedness. • Cash provided by operating activities was $23.6 million in the fourth quarter of 2017 reflecting $31.6 million of cash generated by operating activities partially offset by an $8.1 million increase in working capital. • Our net income from continuing operations was $7.8 million ($0.10 per share) in the fourth quarter of 2017. This compares to net income of $0.7 million ($0.01 per share) in the fourth quarter of 2016. Click Read More below for additional information.

As you are most likely aware, the packaging industry and much of North America has faced significant shipping and logistics challenges over the past several months. Several factors such as demand for freight services outstripping the number of trucks on the road, inclement weather conditions, and the implementation of the new Electronic Logging Device (ELD) regulations in December 2017, have collectively compounded the issue of imbalance in the truck and driver supply. The ELD mandate will have an impact on freight costs. Most carriers that have implemented ELDs have reported productivity decreases of approximately 15% with fewer miles driven per day. It is also expected that some capacity may be taken out of the market due to the rising costs. The net result of all of this is high load to carrier ratios driving up freight rates which often change with little notice. Click Read More below for additional information.

Sales in the fourth quarter of 2017 totaled $8.666 billion, an increase of 1.8 percent, compared with sales of $8.515 billion in the fourth quarter of 2016. Comparable sales on an owned basis were up 1.3 percent in the fourth quarter and up 1.4 percent on an owned plus licensed basis. Total sales in the fourth quarter of 2017 reflect a 14th week of sales, whereas comparable sales are on the same 13-week basis as fiscal 2016. Sales in fiscal 2017 totaled $24.837 billion, down 3.7 percent from total sales of $25.778 billion in fiscal 2016. Comparable sales on an owned basis declined 2.2 percent in fiscal 2017. Macy's, Inc.'s operating income for the fourth quarter of 2017 totaled $1.213 billion, or 14.0 percent of sales, compared to $815 million, or 9.6 percent of sales, for the fourth quarter of 2016. Operating income for the fourth quarter of 2017 totaled $1.397 billion, or 16.1 percent of sales, excluding restructuring and other costs of $152 million and non-cash retirement plan settlement charges of $32 million. For fiscal 2017, Macy's, Inc.'s operating income totaled $1.807 billion, or 7.3 percent of sales, compared with operating income of $1.315 billion, or 5.1 percent of sales, for fiscal 2016. Click Read More below for additional information.

Meredith Corporation announced that it has entered into a binding agreement with Epiris Fund II, advised by Epiris LLP (a UK private equity firm), to sell Time Inc. UK. Formerly owned by Time Inc., Time Inc. UK was acquired by Meredith on January 31, 2018, as part of its acquisition of Time Inc., which had been in the process of selling Time Inc. UK. Time Inc. UK is one of the UK's leading media companies, creating quality content that entertains millions of UK consumers every day. With a heritage spanning 165 years, its portfolio encompasses more than 50 well-known brands, including Country Life, What's on TV, Woman's Weekly and Wallpaper*, and operates across multiple platforms – print, online, mobile, TV and experiences. Click Read More below for additional information.

Auto-renewal subscription programs are a great way for e-commerce businesses to build a constant revenue stream. And they benefit both the company and the consumer. Companies can sell their product or service consistently over a period of time, while the customer doesn’t have to be hassled with repurchasing the product or service every month or year. My daughter has a guinea pig, and we have set our Amazon account to send us her preferred guinea pig food each month, for which we get automatically charged the same amount each month. Little Trevor will never starve! Similarly, we subscribe to Netflix, and we pay a fee that is automatically charged to our credit card each month. Many subscription programs offer new customers the ability to try a service for free for a trial period. To take advantage of the free trial offer, customers have to provide a credit card that will be automatically charged at the end of the trial if the customer does not cancel in time. Click Read More below for additional information.

Highlights: Operating performance on track • 2017 adjusted operating profit of £576m is at the top end of our upwardly-revised October 2017 guidance range, adjusting for currency movements. • Adjusted earnings per share of 54.1p is above the October 2017 guidance range of 49.0p-52.0p reflecting strong profitability, a lower than expected tax rate of 11.1% and after a net interest charge of £79m. • Total underlying revenues declined 2%, in line with the performance in the nine-months, due to a decline of 4% in North America partly offset by stabilisation in Core and Growth. • Statutory operating profit for the year was £451m (2016: a loss of £2,497m). Click Read More below for additional information.

First quarter net revenue of $7.7 billion was up 11% from the prior year and up 9% when adjusted for currency. First quarter GAAP diluted net earnings per share (“EPS”) from continuing operations was $0.92, up from GAAP diluted net EPS from continuing operations of $0.15 in the prior-year period. First quarter non-GAAP diluted net EPS from continuing operations was $0.34, up from non-GAAP diluted net EPS from continuing operations of $0.28 in the prior-year period. “Our strong Q1 performance is proof that we have the right strategy and improved execution,” said Antonio Neri, President and CEO of HPE. “We had good revenue growth across every business segment, continued to execute HPE Next with no disruption to the business, and delivered strong shareholder return in the form of share repurchases and dividends.” Click Read More below for additional information.

Net Sales for the full year increased $35 million, or 2.5%, year over year. The net sales increase was driven by a $19 million increase in our Trade Publishing segment and a $16 million increase in our Education segment during the current period. Operating loss for the full year 2017 was $114 million, $197 million lower than the $311 million operating loss recorded in 2016. Net loss of $103 million for the full year 2017 was $182 million lower than the net loss of $285 million in 2016, due primarily to the same factors impacting operating loss offset by a $15 million unfavorable change in our income tax benefit in 2017, from an income tax benefit of $65 million for the same period in 2016 to an income tax benefit of $50 million in 2017. Click Read More below for additional information.

In the first full fiscal year after the Jet.com acquisition, Walmart posted a 44% increase in e-commerce sales to $11.5 billion across all its U.S. sites. However, web sales grew only 23% in the fourth quarter as problems managing inventory resulted in some items being unavailable to online shoppers. Walmart, No. 3 in the Internet Retailer 2017 Top 500, also announced a 47% year-over-year rise in gross merchandise value—the value of all goods sold on its e-commerce sites, a figure that includes merchandise sold by other merchants on Walmart.com and Jet.com. Overall, the company’s revenues were up 3.0% year over year, a $14.5 billion rise to $500.3 billion. The company’s 23% online growth in the fourth quarter was down from last quarter, which saw a 50% increase, and Q4 last year, during which online sales grew 29%. Click Read More below for additional information.