*No price increase for Parcel Select Ground which, coupled with our recently improved service standard to 2-5 days from 2-8 days, offers a reliable and economical option for shippers *No price increase for USPS Connect Local, which gives businesses of all sizes the ability to reach local customers at affordable rates *Reduced pricing for some Retail Priority Mail Flat-Rate products below the temporary price currently in place *Priority Mail Commercial rate to increase by 3.6 percent, well below the rate of inflation

Sales increased 20% to $433.6 million, compared to $362.6 million during the same period last year. Gross profit increased 7% to $222.4 million, or 51.3% of sales, compared to $207.0 million, or 57.1% of sales, in the third quarter of 2021. Selling, general, and administrative (“SG&A”) expenses increased 11% to $153.9 million, compared to $138.3 million in the third quarter of 2021. Operating income decreased slightly to $68.5 million, or 15.8% of sales, compared to $68.7 million, or 19.0% of sales during the prior year quarter. Net income decreased 14% to $45.5 million, or 10.5% of sales, compared to $53.0 million, or 14.6% of sales in the prior year quarter; Net income per diluted share decreased 13% to $0.52, compared to $0.60 per diluted share in the prior year quarter.

Fiscal 2023 First Quarter Key Financial Highlights *Revenues in the quarter were $2.48 billion, a 1% decrease compared to $2.50 billion in the prior year, driven by a $153 million, or 6%, negative impact from foreign currency fluctuations and lower Book Publishing segment revenues. Adjusted Revenues increased 3% *Net income in the quarter was $66 million compared to $267 million in the prior year *Total Segment EBITDA in the quarter was $350 million compared to $410 million in the prior year

* Dotdash Meredith Digital revenue was $221 million and Print revenue was $251 million. Pro Forma revenue decreased 19% due to 13% Digital declines and 24% Print declines. o Operating loss of $95 million and Adjusted EBITDA of $31 million in Q3 2022 reflect restructuring charges and transaction-related items associated with the acquisition of Meredith ($25 million impacting operating loss and $18 million impacting Adjusted EBITDA) * Angi Inc. revenue increased 8% year-over-year to $498 million and operating loss improved to $11 million (compared to a loss of $15 million in Q3 2021) and Adjusted EBITDA increased 85% to $23 million. o Angi Ads and Leads revenue increased 7% year-over-year, the second consecutive quarter of growth o Angi Services revenue was $132 million, increasing 12% year-over-year * Emerging & Other revenue increased 7% year-over-year to $181 million reflecting: o 13% growth from Care.com o 77% growth from Vivian Health * IAC repurchased approximately 367,000 shares at an average price of $71.56 in Q3 2022.

The New York Times Company announced thirdquarter 2022 diluted earnings per share from continuing operations of $.22 compared with $.32 in the same period of 2021. Adjusted diluted earnings per share from continuing operations (defined below) was $.21 in the third quarter of 2022 compared with $.23 in the third quarter of 2021. Operating profit increased to $51.0 million in the third quarter of 2022 from $49.0 million in the same period of 2021 as higher digital subscription revenues at The New York Times Group segment more than offset expected operating losses at The Athletic Media Company (“The Athletic”). Adjusted operating profit (defined below) increased to $69.0 million from $65.1 million in the prior year, as a result of the same drivers. Adjusted operating profit at The New York Times Group segment increased to $78.6 million from $65.1 million as digital subscription revenues more than offset lower print subscription, print advertising and other revenues. See “Key Highlights” on the following page for additional metrics.

FY2023 first quarter service performance scores covering Oct. 1 through Oct. 28 included: *First-Class Mail: 92.4 percent of First-Class Mail delivered on time against the USPS service standard, a slight decrease of 0.7 percentage points from the fiscal fourth quarter. *Marketing Mail: 94.3 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal fourth quarter. *Periodicals: 86.6 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal fourth quarter.

Costco Wholesale Corporation reported net sales of $17.73 billion for the retail month of October, the four weeks ended October 30, 2022, an increase of 7.7 percent from $16.47 billion last year. For the nine weeks ended October 30, 2022, the Company reported net sales of $39.19 billion, an increase of 9.0 percent from $35.97 billion last year.

Third Quarter 2022 Financial Highlights: • Total revenues of $717.9 million decreased 10.3% compared to the third quarter of 2021 ◦ Same store revenues(2) decreased 9.0% compared to the third quarter of 2021 • Total digital revenues were $256.4 million or 35.7% of total revenues, down 2.3% over the same period in the prior year on a same store(2) basis mainly as a result of weakness in digital media year-over-year • Net loss attributable to Gannett of $54.1 million, a loss margin of 7.5% • Cash provided by operating activities of $31.3 million • Free cash flow(2) of $18.6 million

A union representing 6,000 rail workers, said its members have voted against ratifying the tentative contract that was brokered between rail companies, unions and the Biden administration in September. The Brotherhood of Railroad Signalmen is the second union to reject the White House-brokered agreement. Earlier this month, the Brotherhood of Maintenance of Way Employees Division of the Teamsters rejected the tentative contract over frustration with compensation and working conditions, with the biggest issue being a lack of paid sick days. The unions that voted down the agreement have vowed to continue negotiations at least until Nov. 19, when a strike could potentially occur, although the timeline is uncertain.

*Net sales increased 15% to $127.1 billion in the third quarter, compared with $110.8 billion in third quarter 2021. Excluding the $5.0 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 19% compared with third quarter 2021. *Operating income decreased to $2.5 billion in the third quarter, compared with $4.9 billion in third quarter 2021. *Net income decreased to $2.9 billion in the third quarter, or $0.28 per diluted share, compared with $3.2 billion, or $0.31 per diluted share, in third quarter 2021. *Operating cash flow decreased 27% to $39.7 billion for the trailing twelve months, compared with $54.7 billion for the trailing twelve months ended September 30, 2021.

Third Quarter Highlights *Delivered sales of $3.9 billion, up 16.9%, compared to the third quarter of 2021 on a reported and daily basis; up 20.3% on a daily, constant currency basis *Expanded gross margin by 145 bps compared to the third quarter of 2021 *Generated operating earnings of $603 million, up 37.6%, resulting in diluted EPS of $8.27, an increase of 46.4% versus the third quarter of 2021 *Produced $380 million in operating cash flow and returned $286 million to shareholders through dividends and share repurchases

S&P Global reported third quarter 2022 results with reported revenue of $2.86 billion, an increase of 37% compared to the same period last year, primarily due to the inclusion of IHS Markit businesses, partially offset by declines in Ratings revenue. Continued execution drove growth across most of the Company's six divisions, while Ratings transaction revenue continues to be negatively impacted by a sharp year-over-year reduction in debt issuance. GAAP net income decreased 24% to $608 million and GAAP diluted earnings per share decreased 44% to $1.84 primarily due to the increase in shares outstanding as a result of the merger with IHS Markit. The Company plans to present strategic vision and multi-year targets at its previously announced Investor Day on December 1, 2022 in New York City. The event will be in-person by invitation, and webcast publicly.

Commenting on the results, Nigel Newton, Chief Executive, said: “Bloomsbury achieved very strong results in the first half with year-on-year revenue growth of 22% to £122.9 million and profit growth of 23% to £15.9 million. These are our highest ever first half sales and profits. These results demonstrate the strength and resilience of our strategy of publishing for both the consumer and academic markets, our growth of digital revenues and our global diversification. Throughout this cost of living crisis, books remain an affordable treat. Reading offers a form of escapism and an ideal – and inexpensive – therapy for dealing with the stresses and strains of day-to-day life. The success of Bloomsbury Digital Resources (“BDR”) accelerated, with revenue growth of 69% driven by organic and acquired assets. This drove the Non-Consumer division’s revenue growth of 24% and a 54% increase in profit before tax and highlighted items1 to £7.1 million. Resilient demand saw the Consumer division revenue grow by 21%, achieving a 6% increase in profit before tax and highlighted items1 to £8.9 million. Our financial position is strong, with net cash of £41.5 million. This gives us significant opportunities for further acquisitions and investment in organic growth.

UPS announced third-quarter 2022 consolidated revenues of $24.2 billion, a 4.2% increase over the third quarter of 2021. Consolidated operating profit was $3.1 billion, up 7.5% compared to the third quarter of 2021, and up 6.0% on an adjusted basis. Diluted earnings per share were $2.96 for the quarter; adjusted diluted earnings per share of $2.99 were 10.3% above the same period in 2021. For the third quarter of 2022, GAAP results included after-tax transformation and other charges of $27 million, or $0.03 per diluted share.

The Book Manufacturers’ Institute (BMI) has announced recipients of the Master Bookman and Signature Award, as well as three new members to the Cased-in Club. The honors, which will be presented Monday evening November 7th at the Awards Banquet at the Fall Annual Conference in St. Petersburg, Florida, recognize BMI members who not only contribute to the success of their organization, but also to the continued success of the book manufacturing industry. Matt Baehr, Executive Director of BMI, said, “This group of award winners has truly shaped the book industry for decades. I am very excited to celebrate their accomplishments, and the book industry as a whole.”

Adams Publishing Group is acquiring The Livingston Enterprise and its parent company Yellowstone Newspapers, consisting of 13 small-town Montana newspapers. Terms were not disclosed. The deal was reached last Friday by John Sullivan, president of the Montana Group, and Mark Adams, president and CEO of Minnesota-based Adams Publishing Group (APG). It is expected to close on Nov. 1. This marks the end of a 57-year reign in the local newspaper business for the Yellowstone Group.

Since the campaign began in 2010, globally, Two Sides has successfully challenged over 970 organisations that subject their customers to repeated greenwashing messages which are damaging to the paper, print and mailing industry. With huge pressures on the economy; banks, telecom providers, utility companies and even governmental organisations are increasingly focused on switching their customers from paper to digital services to cut costs. All too often their customer communications attempt to mask these cost-saving efforts, justifying the switch with unfounded environmental marketing appeals such as “Go Green – Go Paperless” and “Choose e-billing and help save a tree.” “Not only are these greenwash claims in breach of established environmental marketing rules, but they are hugely damaging to an industry which has a solid and continually improving environmental record,” says Two Sides Europe Managing Director Jonathan Tame. “Far from ‘saving trees,’ a healthy market for forest products such as paper encourages the long-term growth of forests through sustainable forest management. Many of the organisations we engage are surprised to learn that European forests have actually been growing by 1,500 football pitches every day.”

Can you imagine a future without paper? As it turns out, few can. Despite advancing technology and talk of a paperless society, paper still plays a role in our imagined future. Perhaps that’s because paper is one of only a few truly sustainable products — it’s renewable, recyclable and can be managed sustainably. In the United States and Canada, Domtar has been a leader in advancing the circular economy of paper products by recycling and using wood waste to create renewable energy, and by promoting the recyclability of paper-based products and packaging, which will allow us to continue making products sustainably well into the future. Pop culture points to the continued presence of paper in our daily lives for decades to come, with paper-based products seen in unexpected places on screens of all sizes.

FY2023 first quarter service performance scores covering Oct. 1 through Oct. 14 included: *First-Class Mail: 92.9 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal fourth quarter. *Marketing Mail: 94.4 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal fourth quarter. *Periodicals: 87.6 percent of Periodicals delivered on time against the USPS service standard, an improvement of 0.7 percentage points from the fiscal fourth quarter.

Print continues to be the preferred media for magazine and book readers, challenging conventional industry thinking that digital is dominant. There’s little doubt that the global media and publishing industries are putting a lot of effort into pushing readers online. Whether it’s books, magazines, newspapers or advertising, the vast majority of investment is being made into the virtual rather than the physical, with companies focusing solely on digital at the expense of print. But it seems that readers are pushing back against the rising swell of digital content, continuing to show love for the traditional format and its many benefits. This love has been demonstrated in a number of recent studies, which show the enduring popularity of print magazines around the world and record-breaking figures for print book sales.

The Association of American Publishers (AAP) today released its StatShot report for July 2022 reflecting reported revenue for Trade (Consumer Books), Higher Education Course Materials, and Professional Publishing. The report does not include PreK-12 revenue due to delays in data collection but will be updated as soon as that data becomes available. Total revenues across all categories, excluding PreK-12, for July 2022 were down 14.9% as compared to July 2021, coming in at $1.0 billion. Year-to-date revenues were down 4.1%, at $6.6 billion for the first seven months of the year. Trade (Consumer Books) sales were down 11.6% in July, coming in at $668.4 million. In terms of physical paper format revenues during the month of July, in the Trade (Consumer Books) category, Hardback revenues were down 26.5%, coming in at $177.7 million; Paperbacks were down 4.6%, with $273.6 million in revenue; Mass Market was down 42.5% to $14.8 million; while Special Bindings were down 2.5%, with $17.2 million in revenue.

The Minnesota Daily, a campus publication dating back 120 years, has apparently given up its print edition for good. The newspaper cut off print in 2020—supposedly on a temporary basis. “To the University community, It is with a heavy heart that we are announcing that the print edition of the Minnesota Daily has been canceled for the summer,” wrote then editor Cleo Krejci in an editorial. But now it is apparent that the daily has never been restored, and that it won’t be in the future.

Amid ongoing disruption to delivery schedules Royal Mail has brought forward a swathe of price increases originally slated for next year. The business is locked in a bitter industrial relations dispute with the Communication Workers Union that has resulted in strike action that began at the end of September, and is set to continue throughout October, November and December. Royal Mail had been due to put up prices from 3 January 2023. Instead, prices for advertising mail, business mail, publishing mail, partially addressed mail, poll card mailing, and response services will go up from 7 November.

The Book Manufacturers’ Institute (BMI) released the October results for its monthly survey on capacity and lead times for soft cover and hard cover books. As the book manufacturing landscape has changed recently, BMI put together the survey to get a better idea of what manufacturers were facing and what publishers should expect. This month showed a little bit of a respite with manufacturing capacities and lead times. According to responses regarding hard cover books, the average manufacturer was running at 82% of their capacity, down from 91%. The average lead time for completed hard cover books went down to 62 days from 84 days, based on 19 responses. For soft cover books, capacity usage dropped to 83% from 91%. The average lead time dropped 45 days from 61 days, based on 23 responses.

News Corporation announced that the Company’s Board of Directors, following the receipt of letters from K. Rupert Murdoch and the Murdoch Family Trust, has formed a Special Committee composed of independent and disinterested members of the Board to begin exploring a potential combination with Fox Corporation. The Special Committee, consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, will thoroughly evaluate a potential combination with Fox. The Special Committee has not made any determination with respect to any such potential combination at this time, and there can be no certainty that the Company will engage in such a transaction.

FY2023 first quarter service performance scores covering October 1 through October 7 included: *First-Class Mail: 93.2 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal fourth quarter. *Marketing Mail: 95.4 percent of Marketing Mail delivered on time against the USPS service standard, an increase of .7 percentage points from the fiscal fourth quarter. *Periodicals: 88.1 percent of Periodicals delivered on time against the USPS service standard, an improvement of 1.1 percentage points from the fiscal fourth quarter.

Savvas Learning Company, a K-12 next-generation learning solutions leader, is proud to announce that its Savvas Realize learning management system (LMS) has received Tech & Learning’s 2022 Best Tools for Back to School Award. Savvas Realize, the publishing industry's most innovative LMS, was honored in both the primary and secondary education categories as an exceptional technology platform that supports educators heading back to school. The 2022 Best Tools for Back to School is a new category in Tech & Learning’s Awards of Excellence program, which recognizes innovation in the edtech industry. The new award celebrates technology solutions that offer schools versatility, compatibility, and value while supporting innovative, effective teaching and learning. In praising Savvas Realize, the judges commented that “a single place to sign on and access curriculum resources makes this platform extremely valuable. The collaboration pieces are a huge benefit to teachers. They love having all of their resources in one place for quick access.”

In a move to further modernize and advance its data-focused operations, a360media, the media arm of accelerate360, has named Darwin CX its partner for subscription management and fulfillment services, effective July 2023. The Darwin CX platform is designed to supercharge subscriber acquisition, retention, and loyalty by offering a single customer service profile across media brands with one, consolidated subscriber management tool.

The United States Postal Service filed notice with the Postal Regulatory Commission (PRC) of price changes to take effect Jan. 22, 2023. The new rates include a three-cent increase in the price of a First-Class Mail Forever stamp from 60 cents to 63 cents. If favorably reviewed by the Commission, the proposed increases will raise First-Class Mail prices approximately 4.2 percent to offset the rise in inflation. The price changes have been approved by the Governors of the U.S. Postal Service. The price for 1-ounce metered mail will increase to 60 cents, and the price to send a domestic postcard will increase to 48 cents. A 1-ounce letter mailed to another country would increase to $1.45. There will be no change to the single-piece letter and flat additional-ounce price, which remains at 24 cents. The Postal Service is also seeking price adjustments for Special Services products including Certified Mail, Post Office Box rental fees, money order fees and the cost to purchase insurance when mailing an item.

Barnes & Noble is proud to present its Best Books of 2022 list, comprised of ten titles hand-selected by the bookseller showcasing the most stunning, provoking and impactful new releases of the year. “Readers of every genre will have a book to dive into on our Best Books of 2022 list,” said Jackie De Leo, Chief Merchandising Officer, Barnes & Noble. “There is an extraordinary amount of talent here, ranging from standout debut authors to Pulitzer Prize winners, all of whom have made a lasting impression on our booksellers. We can’t wait to read where they will take us next.”

Learning technology company HMH today announced that the company’s supplemental and intervention solutions were fully reviewed and approved by Chicago Public Schools for usage across the district. These HMH digital tools comply with the Student Online Personal Protection Act (SOPPA), the student data privacy law that regulates students' covered information by schools, the Illinois State Board of Education, and education technology vendors. Through the SOPPA approval process, HMH entered into an agreement with Chicago Public Schools to provide additional guarantees that student data is protected when collected by the company and that the data is used for beneficial purposes only. Protecting student data and therefore the students themselves is of vital importance to HMH. https://www.hmhco.com/about-us/press-releases/chicago-public-schools-approve-hmh-digital-tools-as-student-data-privacy-compliant

FY2022 fourth quarter service performance scores covering July 1 through September 30 included: *First-Class Mail: 93.1 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 94.8 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 86.9 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.

Costco Wholesale Corporation reported net sales of $21.46 billion for the retail month of September, the five weeks ended October 2, 2022, an increase of 10.1 percent from $19.50 billion last year.

One-step sounds simple and easy. Two-step sounds a little more sophisticated and intricate. When it comes to selecting the right print vinyl media for your floor graphic, there’s actually quite a bit more to consider when choosing the product that will best help you create a graphic that dazzles the eye and provides the best value for you or your customer. The challenge is knowing the right questions to ask in order to select the vinyl print media that will help you create a superior floor graphic. Regardless of whether your challenge is easy application and removal or the widest variety of application surfaces, there is an ideal tool for this job — and Nekoosa has the right vinyl print media to help you get the job done. Let’s look at a couple of the most common questions about one-step and two-step vinyl print media to help you understand which is the best choice for your floor graphic.

Specialty outdoor retailer REI Co-op today announced its Opt Outside movement will be permanent for all employees. For this Black Friday, and every Black Friday in the future, the co-op will forgo profits and sales at all locations, and instead pay its more than 16,000 employees to enjoy time outside. Since 2015, REI has closed its doors on Black Friday—inviting employees and members to spend time outside rather than shopping. Over the years, Opt Outside has evolved from a response against consumerism to a movement that has advocated for causes important to the co-op, including environmental welfare, inclusivity in the outdoor industry and responsible recreation. This year will mark the shift of Opt Outside to an ongoing, permanent, employee benefit.

Barnes & Noble is thrilled to announce their partnership with Reading Is Fundamental (RIF) for their second annual Rally to Read 100 campaign. The six-month initiative invites students nationwide to pledge to read 100 books over the course of the campaign, from October 1, 2022 to March 31, 2023. As an Inspiration Partner of Rally to Read 100, Barnes & Noble will contribute to many aspects of the campaign. The bookseller is to contribute 10,000 books in donations of 100 books to 100 classrooms across the country. It contributes to the launch kits distributed to 1,000 classrooms, supports Storytime read-alouds with many best-selling authors and will host the culmination event at the bookseller’s flagship store in Union Square, NYC, on Read Across America Day, March 2, 2023.

From The Mountains to Raised Southern, from Feel Free to RV Today and I Love RVing, from Western Life Today to EV Builder’s Guide the field of magazines (keep in mind my definition of magazines: ink on paper) gained 22 titles on the nation’s marketplace including the return of some favorites that took a break from print or life for some time. Creem, the original rock and roll magazine, made a great comeback (only by subscription) and so did Mad and Marie Claire. So far 2022 has witnessed the launch of 62 titles compared to 81 for the same period of 2021. In the first quarter of 2022 28 titles were launched. In the second quarter the number dropped to 12. The third quarter saw 22 titles introduced.

FY2022 fourth quarter service performance scores covering July 1 through Sept. 23 included: *First-Class Mail: 93.2 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 94.7 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 86.8 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.

Gold Mountain California News Media has acquired several local newspapers from Brehm Communications. They include the Hi-Desert Star, Desert Trail, Desert Mobile Home News, Big Bear Grizzly and Lake Arrowhead Mountain-News, according to Hi-Desert Star. The Yucca Valley printing facility is also included. News Media is also purchasing six BCI newspapers published in the Sacramento area: the Auburn Journal, Folsom Telegraph, Roseville Press-Tribune, Placer Herald, The Loomis News and Lincoln News Messenger.

Sun Chemical has launched SUNFOODSTM Natural Colorants, a product line available in the Americas, Europe, Middle East, and Africa that can match a wide array of industry standard and custom colors that can be applied to a variety of food and beverage products. This new line of natural colorants will be introduced under the “Inspired by nature” campaign to the food and nutrition marketplace at booth #1939 during Supply Side West in Las Vegas from October 31 to November 4. “Building on more than 40 years of experience cultivating natural food ingredients and natural color extraction, we’re excited to showcase our new SUNFOODS Natural Colorants product line at the premiere gathering of food and nutrition professionals worldwide,” said Sophia Jin, Business Manager Americas and EMEA, Food and Nutrition, Sun Chemical.

Dear Industry Member: As we reported to you on Sept. 9th, Rep. Gerry Connolly (D-VA-11th) introduced the Ensuring Accurate Postal Rates Act (H.R. 8781), which would require the Postal Regulatory Commission to conduct a follow-up review of the postal rate-making process. Here’s a brief backgrounder and steps on how you can help this vital bill gain traction through the pending appropriations process: • Review our Sept. 9th announcement and more - click on read more below Why This Action? Mailers got virtually nothing out of the $10B granted by Congress to the USPS as part of the CARES Act. It went to the USPS’s cash position. The PRC’s November 2020 review formula did not consider the Covid-fueled boom in parcel volume for the Postal Service. Also, the PRC’s density formula treated the density change as a volume change to all delivery points, and thus neglected the profitability of the new delivery points and the volume they bring. Instead, the PRC review allowed for the USPS to break the CPI cap and begin instituting two rate hikes per year. This needs to be curtailed and you can help. And ACMA is here to help you in the process by simply responding to this email for our support.

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

First quarter consolidated operating results were adversely impacted by global volume softness that accelerated in the final weeks of the quarter due to weakening economic conditions. In addition, results were negatively affected by service challenges at FedEx Express. Yield improvements, including fuel surcharge increases, more than offset the decline in volume, resulting in an increase in revenue for the quarter. In response, the company implemented cost actions and continued its focus on yield management and revenue quality to mitigate the effect of volume declines. However, the impact of cost actions lagged volume declines and operating expenses remained high relative to demand. FedEx Express operating income declined 69% due to an 11% year-over-year reduction in global package and freight volume. The impact of cost actions lagged volume declines and operating expenses remained high relative to demand. These factors were partially offset by yield management actions, including higher fuel surcharges.

As part of its fast-growing distribution client business, Simon & Schuster has opened a new distribution facility in Jackson, Tennessee. Simon & Schuster is already operating in 400,000 square feet of the facility, in what will eventually be a one million square foot distribution center by the end of the year. New distribution client Callisto Media, the prolific global publisher of best-selling titles focused on lifestyle, cooking, and children’s books, is set to be one of the first publishers shipped from the Jackson warehouse. The distribution agreement with Callisto Media is effective March 1, 2023. The company will continue to ship from its Riverside and Milan Distribution Centers.

The United States Postal Service reported new delivery performance metrics for the eleventh week of the fiscal fourth quarter. The data shows continued strong performance for First-Class Mail, Marketing Mail, and Periodicals. During the reporting period, the Postal Service averaged 2.5 days to deliver a mailpiece or package across the postal network. FY2022 fourth quarter service performance scores covering July 1 through Sept. 16 included: *First-Class Mail: 93.2 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 94.6 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 87.1 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.

In a keynote video address this week to partnership groups composed of Postal Service leaders and the nation’s commercial mailers, USPS Postmaster General and CEO Louis DeJoy said the Postal Service is a different organization now than when he arrived more than two years ago. “Together, we have now started to change the direction of the Postal Service. We are a better organization in a better financial position than we were just one year ago. And we have achieved this exciting momentum during the pandemic. The ball is now in our court to effect the operating and marketing strategies we need to accomplish this transformation,” DeJoy said in his video remarks to over 90 Postal Customer Councils (PCCs) participating in National PCC Week.

The Association of American Publishers (AAP) released the StatShot Annual report covering the calendar year 2021, estimating that the U.S. book publishing industry generated $29.33 billion industry-wide during the year, the highest number ever reported by StatShot Annual. The number reflects a $3.23 billion increase, or 12.3%, as compared to 2020 revenues of $26.1 billion. “The industry was firing on all cylinders in 2021, delivering benefits up and down the value chain for literature, scholarship, and educational materials,” commented Maria A. Pallante, President and CEO, Association of American Publishers. “At the end of the day, we know that books are immeasurable and timeless as they make their way in the world. Nevertheless, in an economy that is overcrowded with entertainment options, it is thrilling and gratifying to see such resounding affirmation for reading.”

Sixteen of the 50 titles on the longlist for the 2022 National Book Award are published by Penguin Random House US imprints: Five of the ten books longlisted in the Nonfiction category, and four in the Fiction category. So the publishing group has excellent chances at the NBA awards presentation on November 16. The NBA has been presented since 1950 and is regarded as one of the most important book prizes in the U.S. A total of 16 authors on the Penguin Random House US roster have hopes of winning a National Book Award (NBA) this year. One of the foremost book prizes in the U.S. - and hence in the entire English-speaking world - the prestigious award has been presented since 1950, currently in five categories, each with ten nominations for the longlist. The NBAs are administered by the non-profit National Book Foundation. Penguin Random House has especially good chances this time in the important “Nonfiction” category. Here, Bertelsmann’s publishing houses account for fully half of the nominated titles: five out of ten. In the top category, “Fiction,” the U.S. publishing group scored four of the ten slots on the longlist. This is the first time in several years that the publishing group has been represented in all five categories.

Parade magazine, the supplement that has for 80 years run in newspapers nationwide, will publish its last print edition on November 6. The family oriented magazine will now appear in digital editions only. The news comes just months after The Arena Group acquired Parade’s parent, AMG/Parade, for $16.3 million. The Arena Group announced the shift to digital in an email to newspapers that carry Parade.

Canada will soon see nine daily newspapers stop printing editions on Mondays. The publications are The Vancouver Sun, The Province, Calgary Herald, Calgary Sun, Edmonton Journal, Edmonton Sun, Ottawa Citizen, Ottawa Sun and Montreal Gazette, publisher Postmedia Network Inc. announced last week. That leaves the Toronto Star, Toronto Sun, Winnipeg Sun, Journal de Montréal and Journal de Québec as the only dailies in Canada that publish print editions seven days a week, the Globe And Mail reports, media analyst Steve Faguy.

As has been well documented, the pandemic had many unexpected consequences over the past few years, not the least of which was a boom in trade book sales in both 2020 and 2021. But while the trade segment fared well in 2020, the other major publishing segments did not, and total industry sales had only a 0.2% gain that year over 2019. In 2021, trade sales jumped again, but so did sales in the other segments, resulting in a 12.3% increase in total sales, to $29.33 billion, according to the Association of American Publishers’ final statistics for the year. The final figure marks a major improvement over numbers from the previous four years, when sales ranged between $25 billion and $26 billion. In 2021, sales in all segments except professional books topped their 2019 numbers, which have become a measuring stick many companies use given the volatility of the past two years.

New figures published by YouGov Profiles show that UK and US magazine audiences still prefer reading their favourite publications in print. Out of the total 166,000 people polled (111,000 in the UK, 55,000 in the US), only 18% of UK respondents said that they got more enjoyment from reading magazines online vs print, and only 29% in the US. These figures contrast starkly with news consumption habits, where the preference is now for reading online. In the UK, 54% said that they prefer to consume news content online versus in newspapers, with that figure rising to 60% in the US.

The United States Postal Service reported new delivery performance metrics for the tenth week of the fiscal fourth quarter. During the reporting period, the average time for the Postal Service to deliver a mailpiece or package across the postal network was just 2.5 days. FY2022 fourth quarter service performance scores covering July 1 through Sept. 9 included: *First-Class Mail: 93.2 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 94.6 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 87.0 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.

At an event here to celebrate the new Holiday Elves stamps, with Santa, Mrs. Claus, reindeer and the Santa Claus House (on St. Nicholas Drive!) as the backdrop, the Postal Service announced that letters for the 110-year-old USPS Operation Santa program can be sent beginning today — six weeks earlier than previous years. The holiday season is here! “USPS Operation Santa allows generous customers to grant the holiday wishes of children and families in need. The program is now accepting wish lists for this year’s program,” said Michael Elston, the Secretary of the U.S. Postal Service Board of Governors, who served as the dedicating official for the stamp event. “We know this is earlier than usual, but we’re pretty excited to get the season started and we know kids around the country are eager to write to Santa, using these stamps on the envelopes.”

July bookstore sales fell 3.4% compared to July 2021, according to preliminary estimates from the U.S. Census Bureau. Sales we $646 million this past July, compared to $668 million a year ago. It was the second straight month bookstore sales declined compared to 2021, after a steady string of monthly increases, and could reflect a new normal in the bookstore sales pattern, as comparisons to 2021 now reflect a period when many stores had reopened after lockdowns. In June, sales were down 8.2%. Despite the two-month sales skid, bookstore sales were still up 10.3% in the first seven months of 2022 over 2021, with sales rising to $4.54 billion from $4.11 billion in the comparable period in 2021. For the entire retail segment July sales rose 8.5% and sales increased 10.2% in the year-to-date.

Since Patagonia’s founding in 1973, Yvon Chouinard and his family have been its owners. Now, almost 50 years later, the company is announcing that the Chouinards are transferring all ownership to two newly created entities in an effort both to cement the company’s values in its operating structure and step up its fight against the climate crisis. All voting stock (about 2% of the total) is now controlled by the Patagonia Purpose Trust, while the other 98% is under what’s called the Holdfast Collective. The goal behind the Patagonia Purpose Trust is to create a permanent legal structure to enshrine the company’s purpose and values, so that there is never deviation from Chouinard’s intent—and to make sure the company continues to demonstrate that capitalism can work for the planet. Meanwhile, the company says that all annual profits that are not reinvested back into the business—which they estimate to be about $100 million per year—will be distributed by Patagonia as a dividend to the Holdfast Collective (which is designated as a 501(c)(4) organization) to fund grassroots environmental organizations, invest in businesses, and support political candidates that all work to protect nature and biodiversity, support thriving communities, and fight the climate crisis.

Dear Industry Member: Following aggressive lobbying efforts from the ACMA, its partner organizations the Coalition for a 21st Century Postal Service and Keep Us Posted, and others with mailing interests, today Rep. Gerold Connolly (D-VA, at right) introduced the Ensuring Accurate Postal Rates Act. If passed into law, the bill will require the Postal Regulatory Commission to conduct a follow-up review of the postal rate-making process. Below is a brief timeline: • In 2020, the PRC completed its mandated 10-year review of the postal rate-making process. The review modified the rate-making process, opening the door for the USPS to increase rates beyond the CPI cap and doubling the number of rate hikes in each of the past two years. • Although completed that November, the review quickly became outdated: A section of the April 2022 USPS Fairness Act (section 102 of Public Law 117-108) canceled unpaid USPS obligations, thereby removing an essential basis for the PRC ruling. • The PRC ruling also did not adquately account for the windfall of business the USPS achieved from the Covid boom in package shipping and other improvements to its financial condition from the pandemic. • Less than a month after the PRC ruling, the CARES Act authorized up to $10 billion in funding for the U.S. Postal Service from the U.S. Treasury. We appreciate Rep. Connolly's sensitivity to the impact of extra-large rate increases on our members. The ACMA will will continue to advocate to build support for this much needed legislation, including how you can work with your own legislators to ensure this bill is passed.

The American Trucking Associations is calling on Congress to help resolve ongoing labor negotiations in the freight rail industry should the parties fail to reach a mutual agreement when the current cooling off period expires on September 16. The trucking industry is freight rail’s largest customer, and in a letter sent to Capitol Hill today, ATA is warning of dire consequences for the U.S. supply chain if a strike were to go into effect. “Idling all 7,000 long distance daily freight trains in the U.S. would require more than 460,000 additional long-haul trucks every day, which is not possible based on equipment availability and an existing shortage of 80,000 drivers,” said ATA President and CEO Chris Spear in the letter. “As such, any rail service disruption will create havoc in the supply chain and fuel inflationary pressures across the board.” The letter urges Congress to help implement a contract patterned on the recommendations outlined by the Presidential Emergency Board and cautions against merely extending the negotiation timeline further, which would push a potential strike deeper into the holiday season when the supply chain is already under added pressure.

The United States Postal Service reported new delivery performance metrics for the ninth week of the fiscal fourth quarter showing the average time for the Postal Service to deliver a mailpiece or package across the postal network was consistent at just 2.4 days. As the Postal Service heads into the busy fall mailing season, service performance remains strong and steady across all mail categories. FY2022 fourth quarter service performance scores covering July 1 through Sept. 2 included: *First-Class Mail: 93.2 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 94.6 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 87.0 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.

The Postal Regulatory Commission (PRC) approved a temporary price adjustment for key package products for the 2022 peak holiday season. This temporary rate adjustment is similar to ones in past years that help cover extra handling costs to ensure a successful peak season. The temporary rates will go into effect at 12 a.m. Central on Oct. 2 and remain in place until 12 a.m. Central Jan. 22, 2023. The peak-season pricing approved by the PRC affects prices on the following commercial and retail domestic competitive parcels: Priority Mail Express (PME), Priority Mail (PM), First-Class Package Service (FCPS), Parcel Select and USPS Retail Ground. International products will be unaffected. This seasonal adjustment brings prices for the Postal Service’s commercial and retail customers in line with competitive practices. No structural changes are planned as part of this limited pricing initiative.

Imports at the nation’s major container ports are expected to fall below last year’s levels for the remainder of 2022. That’s according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates. The report cited ongoing inflation and the Federal Reserve’s efforts to cool demand through higher interest rates. The key now is dealing with ongoing supply chain issues around the globe and with labor negotiations at West Coast ports and freight railroads.

As students return to the classroom for the new school year, Savvas Learning Company is helping educators move learning forward with engaging, easy-to-use K-12 solutions that offer data-informed instruction and adaptive technology to take personalized learning to the next level. “A one-size-fits-all instructional approach doesn’t work in a classroom where every student brings their own unique learning style. More than ever, personalized learning is critical in getting students engaged and motivated to learn and supporting academic growth,” said Bethlam Forsa, CEO of Savvas Learning Company. “Teachers know best how to personalize learning for their students. This is why Savvas delivers learning solutions that are powered by adaptive technology, enabling educators to easily tailor instruction to address each student’s learning needs, interests, and abilities.”

Revenue *Research was flat as reported, or up 4% at constant currency, driven by organic growth in Publishing and Solutions and contributions from recent acquisitions. - Revenue by product type reporting change – Research is now reported as Research Publishing and Research Solutions. Research Solutions includes platforms, corporate solutions and services for societies and other publishers. It replaces the Research Platforms reporting line. Please see the tables below for more detail. *Academic & Professional Learning revenue declined 5% as reported and 1% at constant currency. Education Publishing performance saw a decline in print course material offsetting growth in digital content and courseware. Professional Learning saw growth in corporate training offsetting a decline in professional publishing. *Education Services increased 7% as reported and 11% at constant currency, with very strong double-digit growth in Talent Development offsetting a decline in University Services from market-related enrollment challenges. EPS *GAAP EPS was a loss of $0.32 as compared to +$0.24 in the prior year period, primarily reflecting a $0.30/share ($22 million) restructuring charge and accelerated amortization of intangibles of $0.07/share ($5 million) related to the discontinuation of the mthreebrand.

On September 2, 2002 publishers filed the latest brief in the copyright infringement lawsuit against Internet Archive (“IA”), first filed on June 1, 2020 in the United States District Court for the Southern District of New York. The brief follows publishers’ July 7, 2022 request for summary judgement against the Internet Archive, which explained that both the law and facts of the case indisputably point to infringement and do not require a trial. The most recent filing comprehensively negates the Internet Archive’s own motion for summary judgement, which publishers believe is meritless and misleading. The plaintiffs — Hachette Book Group, HarperCollins Publishers, Penguin Random House, and Wiley — brought the lawsuit on behalf of themselves and their authors after the Internet Archive refused to halt its infringement of tens of thousands of their books.

Berkshire Hathaway's HomeServices of America unit has extended its custom publishing and content marketing deal with Havas House, the customer media division of Republica Havas Group and Havas Creative North America Network. The extension includes a new custom magazine, Lifestyles Southern California, which launches in December and targets the "ultra affluent audience" of Southern California's luxury real estate market. With a circulation of 75,000 print editions delivered directly to select, multimillion-dollar properties (valued at $3 million to $5 million).

Conde Nast continues its digital pivot with the publishing giant announcing plans to shutter the print edition of its beauty tome Allure, and the December 2022 magazine will be its last. Editor-in-Chief Jessica Cruel broke the news to staffers this week along with the information that employees' roles may change, but no layoffs have been confirmed yet. "Our brand is stronger than ever across social and digital and our success is testament to our collaboration as a team and because we know just how and where our audience is accessing content in today's ever-changing landscape," wrote Cruel. "It's our mission to meet the audience where they are and with this in mind, after our December print issue, we are making Allure an exclusively digital brand."

Welcome to 2022, when even our work computers tell us we’re getting too much screen time. And while it can be harder to cut back on medium screen, people seem to be more mindful about their small-screen time—some are even using flip phones. As concern mounts over our collective tech habits and the potential damage of absorbing too much bad news—aka doomscrolling—publisher Penguin Random House saw an opportunity to get people reading with its new campaign, “Slow Down, Read a Book.” “I think reading is positioned to help people escape and help people think more deeply, and help people relax. And it’s almost a foil to social media in that way,” Carly Gorga, director of creative strategy, brand marketing at Penguin Random House, told us.

FY2022 fourth quarter service performance scores covering July 1 through Aug. 26 included: *First-Class Mail: 93.1 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 94.5 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 86.7 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.

Average student spending on college course materials declined during the 2021-2022 school year according to reports from two leading independent research firms. The most recent report from Student Watch, which is funded by the National Association of College Stores Foundation, found that student spending went from $456 during the 2020-2021 academic year to $339 for the 2021-2022, a decline of 26 percent. Similarly, independent research firm Student Monitor found that average student spending on college course materials, including textbooks and digital materials, declined 22 percent going from $405 last year to an average of $314 for the 2021-2022 academic year. “This year’s average course material spending is the lowest we’ve recorded over the past 15 years,” said Lacey Wallace, Research Analyst at the National Association of College Stores.

For the second quarter, the Company reported net income of $42.0 million, or $0.34 per diluted share, compared to net income of $26.2 million, or $0.21 per diluted share, for last year's second quarter. For the second quarter, net sales were $558.7 million compared to $472.1 million in last year's second quarter. This 18.4% improvement primarily reflects a comparable sales increase of 19.5%, partially offset by 26 permanent net store closures since last year's second quarter. The 19.5% comparable sales improvement was driven by an increase in transaction count and higher average dollar sale.

As students and teachers nationwide head back to school, learning technology company HMH today announced major enhancements to Ed, HMH’s connected teaching and learning platform, that will offer an even more streamlined experience to empower educators and engage students. Seamless integrations with Google Classroom and Clever, as well as refinements and new features to many of HMH’s core, supplemental and intervention solutions and professional learning services, provide powerful connected teaching and learning experiences that drive positive outcomes—all from one platform. “At HMH, we know that an innovative, connected approach is what educators need to make the most of their time and resources and meet all students where they are,” said Greg Collins, SVP of Platform at HMH. “This back-to-school, a streamlined Ed experience will equip students, teachers and administrators with powerful integrations like Google Classroom and Clever, enhanced embedded assessment, joint solutions like Amira + Saxon Phonics & Spelling and evolve the overall HMH platform experience.”

*Domestic revenue of $9.57 billion decreased 13.1% versus last year primarily driven by a comparable sales decline of 12.7%. *Domestic online revenue of $2.97 billion decreased 14.7% on a comparable basis, and as a percentage of total Domestic revenue, online revenue was 31.0% versus 31.7% last year. *Domestic gross profit rate was 22.0% versus 23.7% last year. The lower gross profit rate was primarily due to: (1) lower services margin rates, including pressure associated with the Best Buy Totaltech membership offering; (2) lower product margin rates, including increased promotions; and (3) higher supply chain costs. *Domestic GAAP SG&A was $1.73 billion, or 18.1% of revenue, versus $1.85 billion, or 16.8% of revenue, last year. *International revenue of $760 million decreased 9.3% versus last year. This decrease was primarily driven by a comparable sales decline of 4.2% in Canada and the negative impact of approximately 420 basis points from foreign currency exchange rates. *International gross profit rate was 23.4% versus 24.3% last year. The lower gross profit rate was primarily driven by lower product margin rates.

The Press of Atlantic City is launching what it says is a hyperlocal newspaper: The Current of Linwood, Northfield and Somers Point. It will arrive in every mailbox in those communities in the first week of October, wrote W.F. “Buzz” Keough. the executive editor of The Press of Atlantic City, on Saturday. However, the Press is ceasing publication of six remaining weekly Currents and in Atlantic and Cape May counties. “We don’t make this decision lightly: The Press has had a role in publishing the Currents/Gazettes since 1997,” Keough reports.

FY2022 fourth quarter service performance scores covering July 1 through Aug. 19 included: *First-Class Mail: 93.0 percent of First-Class Mail delivered on-time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 94.5 percent of Marketing Mail delivered on-time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 86.8 percent of Periodicals delivered on-time against the USPS service standard, consistent with performance from the fiscal third quarter.

Second Quarter Fiscal 2022 - Financial Results *Net sales of $3.86 billion, down 8% compared to last year. *Comparable sales were down 10% year-over-year. *Online sales declined 6% compared to last year and represented 34% of total net sales. *Store sales declined 10% compared to last year. The company ended the quarter with 3,390 store locations in over 40 countries, of which 2,799 were company operated. *Reported operating loss was $28 million in the quarter; reported operating margin of (0.7%). *Reported net loss of $49 million.

For the Second Quarter of Fiscal 2022 *Net sales increased 16.8% to $2.3 billion compared to $2.0 billion in the second quarter of fiscal 2021 due to the favorable impact from the continued resilience of the beauty category, the impact of new brands and product innovation, and the easing of COVID-19 restrictions compared to the second quarter of fiscal 2021. *Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 14.4% compared to an increase of 56.3% in the second quarter of fiscal 2021, driven by an 8.3% increase in transactions and a 5.6% increase in average ticket. *Gross profit increased 16.3% to $928.2 million compared to $798.0 million in the second quarter of fiscal 2021. As a percentage of net sales, gross profit decreased to 40.4% compared to 40.6% in the second quarter of fiscal 2021, primarily due to lower merchandise margin and higher inventory shrink, partially offset by leverage of fixed costs and strong growth in other revenue. *Operating income increased 17.8% to $391.4 million, or 17.0% of net sales, compared to $332.3 million, or 16.9% of net sales, in the second quarter of fiscal 2021. *Net income increased 17.8% to $295.7 million compared to $250.9 million in the second quarter of fiscal 2021.

After more than 100 years in business, MIDLAND has grown from a single Midwest location to one of the largest independent paper and packaging distributors in the United States. Headquartered in Wheeling, Illinois, MIDLAND provides value added solutions for the efficient distribution of printing and publication papers, packaging supplies and equipment, and facility supplies. Through experienced recommendations and intimate knowledge of these industries, the company helps clients find the best solution for their needs at the most competitive pricing in today’s ever-changing marketplace. MIDLAND focuses its attention on adding value to paper and packaging programs by using its strong mill relationships and expertise in paper, packaging, design, printing and mailing to help clients exceed their marketing and financial objectives. And when it comes to sustainability, MIDLAND’s commitment is evident in both principle and practice. “More and more, we see the current business climate driving our print and packaging customers to assess their impact on the planet,” says MIDLAND National President David Goldschmidt. “Companies turn to MIDLAND because they want a responsible supplier who conducts business ethically and can help them achieve their corporate sustainability goals.

A summary of results for the second quarter ended July 30, 2022 as compared to the second quarter ended July 31, 2021: *Net sales of $805 million, down 7% as compared to last year on a reported basis and down 4% on a constant currency basis. *Gross profit rate of 57.9%, down approximately 730 basis points as compared to last year. The year-over-year decrease was primarily driven by higher product costs, which contributed 750 basis points, and the adverse impact of exchange rates, which accounted for 30 basis points. These impacts where partially offset by higher AUR at Abercrombie. *Operating expense, excluding other operating income, net, was up 4% compared to last year. The increase was driven primarily by inflation and higher digital fulfillment expenses partially offset by lower incentive-based compensation. Operating expense as a percentage of sales increased to 58.0% from 52.1% last year. *Operating loss of $2 million and $0 million on a reported and adjusted non-GAAP basis, respectively, as compared to operating income of $115 million and $116 million last year, on a reported and adjusted non-GAAP basis, respectively.

Inspired by input from its educator users, Savvas Learning Company is excited to announce that for back to school it has updated its award-winning Savvas Realize platform with powerful enhancements and a new user experience intended to save teachers time, freeing them up to focus more on classroom instruction with their students. Savvas Realize, recognized as one of the most innovative learning management systems (LMS) in the industry and the winner of seven edtech awards, has now been made even easier to use with intuitive navigation for both teachers and students and time-saving tools for teachers to make the most of their teaching day. These updates include a more streamlined interface with faster grading workflows, improved classroom management tools, and greater integration with the edtech tools that schools use most. “Teachers have a lot on their plates, especially this school year with trying to get their students caught up. They need an LMS that’s easy to navigate for them and their students — one that provides robust support for personalized learning and the right tools to make their jobs easier,” said Bethlam Forsa, CEO of Savvas Learning Company. “After a year-long collaboration with nearly 100 educators, our highly acclaimed Savvas Realize LMS has been updated with significant enhancements to provide greater simplicity, shareability, and interoperability — helping teachers be more productive in the classroom.”

Urban Outfitters, Inc. announced net income of $59 million and earnings per diluted share of $0.64 for the three months ended July 31, 2022. For the six months ended July 31, 2022, net income was $91 million and earnings per diluted share were $0.96. Total Company net sales for the three months ended July 31, 2022, increased 2.2% over the same period last year to a record $1.18 billion. Total Retail segment net sales increased 1%, with comparable Retail segment net sales also increasing 1%. The increase in Retail segment comparable net sales was driven by low single-digit positive digital channel sales, while retail store sales were flat. By brand, comparable Retail segment net sales increased 8% at the Free People Group and 7% at the Anthropologie Group and decreased 9% at Urban Outfitters. Wholesale segment net sales increased 1%, driven by a 4% increase in Free People Group wholesale sales, partially offset by a decline in Urban Outfitters wholesale sales. Nuuly segment net sales increased by $18.8 million driven by a significant increase in our subscribers.

SECOND QUARTER 2022 SUMMARY *Total Company net sales increased 12.0 percent and GMV increased 12.2 percent compared with the same period in fiscal 2021. *Gross profit, as a percentage of net sales, of 35.2 percent increased 65 basis points compared with the same period in fiscal 2021 primarily due to leverage on buying and occupancy costs, partially offset by higher markdown rates. *Ending inventory increased 9.9 percent compared with the same period in fiscal 2021, versus a 12.0 percent increase in sales. *Selling, general and administrative expenses, as a percentage of net sales, of 32.8 percent decreased 15 basis points compared with the same period in fiscal 2021 primarily due to leverage on higher sales, partially offset by higher labor expense. *Earnings before interest and tax ("EBIT") was $202 million in the second quarter of 2022, compared with $151 million during the same period in fiscal 2021, primarily due to higher sales, partially offset by higher markdowns and higher labor expense.

The ODP Corporation announced that, subject to certain closing conditions, it has reached a definitive agreement for a sale and partial leaseback of its Boca Raton-based corporate headquarters. Upon completion of a sale, The ODP Corporation expects to lease a portion of the building’s office space from the new owner and to continue to occupy it as the company’s headquarters for a minimum of two years. “I’m excited about this opportunity and our commitment to maintaining Boca Raton as our headquarters and base of operations while continuing to embrace our low-cost flexible business model,” said Gerry Smith, chief executive officer for The ODP Corporation. “This is another example of how we are committed to leveraging our assets in the best way possible, enhancing our balance sheet and identifying smart ways to drive The ODP Corporation’s long-term growth and success.”

Whether you are an avid reader or the occasional book worm, identifying your next page-turner can sometimes be a challenge. Today we’re excited to introduce the next chapter for the Walmart book department: the Walmart Book Club. Five titles will be chosen annually as part of the Walmart Book Club with four unveiled seasonally throughout the year leading up to the highest honor, the Pick of the Year. Our team of book merchants will select titles based on reading trends, relevancy and industry market data – helping to identify exciting titles Walmart customers are sure to love. Focused on adult readers, select titles will be available to shop both in stores and online, making it easy to join no matter where you live. To get involved, all customers need to do is keep an eye out for the Walmart Book Club sticker on the cover of the book or the online product page.

*Comparable sales down 1.5% on an owned basis and down 1.6% on an owned-plus-licensed basis; up 4.3% and 4.4%, respectively, versus the second quarter of 2019. *Digital sales decreased 5% year-over-year while increasing 37% versus the second quarter of 2019. *Macy’s comparable sales were down 2.9% on an owned basis and down 2.8%, on an owned-plus-licensed basis. *Bloomingdale’s comparable sales on an owned basis were up 8.8% and on an owned-plus-licensed basis were up 5.8%. *Bluemercury comparable sales were up 7.6% on an owned and owned-plus-licensed basis. *Inventory turnover, on a trailing twelve-month basis, was relatively flat to 2021 and improved 15% over 2019. *Gross margin for the quarter was 38.9%, down from 40.6% in the second quarter of 2021.

Dotdash Meredith is giving up a deal with the state of Iowa in which it was to receive tax incentives for hiring and keeping workers in Des Moines. The publishing company was to receive $460,000 in tax credits and refunds under the arrangement, in return for adding 41 employees by March 2021 for at least $29.12 per hour and retaining them through March 2023, according to the Des Moines Register. Dotdash Meredith informed the Iowa Economic Development Authority (IEDA) in an August 10 letter that it would close the tax-incentive contract. Dotdash Meredith, facing reduced ad spending, suffered a $28 million operating loss in Q2.

FY2022 fourth quarter service performance scores covering July 1 through Aug. 12 included: *First-Class Mail: 93.0 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 94.3 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 86.5 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.

The Association of American Publishers (AAP) today released its StatShot report for June 2022 reflecting reported revenue for Trade (Consumer Books), Higher Education Course Materials, and Professional Publishing. The report does not include PreK-12 revenue due to delays in data collection but will be updated as soon as that data becomes available. Total revenues across all categories, excluding PreK-12, for June 2022 were down 0.2% as compared to June 2021, coming in at $895.0 million. Year-to-date revenues were down 1.6%, at $5.5 billion for the first six months of the year.

Port congestion continues to haunt global trade, spreading fresh fears among exporters andimporters over whether massive amounts of cargo will be delivered on time for the busy, year-end shopping season. Supply chains never fully recovered from the pandemic shock when goods transported by seawere delayed and shipping prices soared. Now freight rates are falling, but cargo is still delayed at choked European and American ports. “Ships are still a gamble not worth taking,” said Abbie Durkin, the owner of Palmer & Purchase, awomen’s clothing and accessories boutique with stores in New York. “We are fl ying in our entirewinter collection to make sure it arrives before Christmas.”

“Second quarter results were impacted by a weakening macro environment, high inflation and dampened consumer spending, which especially pressured our middle-income customers. We have adjusted our plans, implementing actions to reduce inventory and lower expenses to account for a softer demand outlook. Kohl’s has navigated difficult periods in the past and I am confident in our ability to successfully manage through the current uncertainty. I want to thank our incredible associates around the country for their commitment to Kohl’s and for providing excellent service to our customers every day. We continue to execute on our transformation strategy and are pleased to deliver outsized performance in the nearly 600 stores which have been refreshed and elevated, featuring Sephora as a key cornerstone,” said Michelle Gass, Kohl’s chief executive officer. “While 2022 has turned out to be more challenging than initially expected, Kohl’s remains a financially strong company with significant long-term growth potential. Our $500 million accelerated share repurchase underscores our steadfast confidence in Kohl’s future and focus on creating shareholder value. We also remain firmly committed to our current dividend,” said Gass.

A new guide from Royal Mail Marketreach explains the sustainable benefits of mail and how those benefits can be boosted by the right choice of materials and suppliers. For some time now, direct mail has been one of the most sustainable forms of marketing available to companies and organisations. The fact that the paper industry uses a large proportion of renewable energy to process paper sourced from carefully managed forests combined with Europe’s high paper recycling rate means that mail is a key part of the circular economy. But while most people in the paper industry are fully aware of its environmental credentials, others in the wider marketing sphere aren’t, so Royal Mail Marketreach and industry body the Strategic Mailing Partnership have teamed up to produce a handy guide to making mail campaigns more sustainable.

The Book Manufacturers’ Institute (BMI) released the August results for its monthly survey on capacity and lead times for soft cover and hard cover books. As demand has skyrocketed and supply chain woes continue to hamper all segments of manufacturing, BMI put together the survey to get a better idea of what manufacturers were facing and what publishers should expect. This month showed capacity and lead times all going up a bit. According to responses regarding hard cover books, the average manufacturer was running at 90% of their capacity, up from July’s 84%. The average lead time for completed hard cover books went up from 74 to 85 days. For soft cover books, capacity usage went up slightly to 92% and the average lead time went up from 56 days to 62 days, based on 16 responses.

Join J.Schmid President & CCO Brent Niemuth at the Fall NEMOA Summit in Boston Harbor, MA where he'll deliver a keynote session on Messaging That Matters: Creating Powerful Content Across Channels. But that's not all! In addition to the Keynote Address, Brent will lead a hands-on workshop with Cindy Marshall, Founder & CEO of SHINE Strategy and Jason Baer, VP Sales & Marketing of Vermont Teddy Bear. This interactive session will explore the latest trends in Print Marketing. It's perfect for marketers who want to do a deep-dive into Strategic Planning, Merchandising, Creative & Messaging, Formats, and Circulation. Space is limited so register now! If you're not already familiar with NEMOA, here's what you need to know: • It's the only summit for true omnichannel marketers, helping brands harness the power of print in the marketing mix. • The thought-provoking discussions and enriching sessions are 100% guaranteed to drive actionable insights. • And one more thing...we can offer you a 15% discount with code BRD15! That's right, it's a perk we get as a board member. So if you're interested in going, register now at: https://nemoaevent.org/?utm_source=marketo&utm_medium=NEMOA&utm_campaign=website

FY2022 fourth quarter service performance scores covering July 1 through August 5 included: *First-Class Mail: 93.1 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 94.2 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 86.3 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.

The planned peak-season pricing, which was approved by the Governors of the Postal Service on Aug. 9, would affect prices on the following commercial and retail domestic competitive parcels: Priority Mail Express (PME), Priority Mail (PM), First-Class Package Service (FCPS), Parcel Select and USPS Retail Ground. International products would be unaffected. Pending favorable review by the PRC, the temporary rates would go into effect at 12 a.m. Central on Oct. 2, and remain in place until 12 a.m. Central Jan. 22, 2023. This seasonal adjustment will bring prices for the Postal Service’s commercial and retail customers in line with competitive practices. details at: https://about.usps.com/newsroom/national-releases/2022/0810-usps-announces-proposed-temporary-rate-adjustments.htm

Kohl’s is making holiday shopping even easier and more efficient this year. New for the 2022 season, Kohl’s Self-Pickup service is now available on eligible Kohls.com orders at all of Kohl’s more than 1,100 stores nationwide, furthering the strength of the Company’s omnichannel foundation. As a part of Kohl’s commitment to an industry-leading shopping experience, the new Self-Pickup service creates a hassle-free In-Store Pickup alternative for a faster pickup, and no lines in sight. With 80% of Americans living within 15 miles of a Kohl’s store, millions of shoppers can now take advantage of this convenience on eligible In-Store Pickup orders. Ready within two hours, shoppers who select “In-Store Pickup” for their online order will receive a “Ready for Pickup” email that will specify if the order will be found in the designated Self-Pickup area. Customers will then be directed to the area within the store for a quick email-guided pickup process. More details at: https://investors.kohls.com/news-releases/news-details/2022/Kohls-Announces-Expansion-of-Self-Pickup-to-All-Stores-Nationwide---Just-in-Time-for-Holiday-Shopping/default.aspx

The Postal Service had adjusted loss of $459 million for the quarter, compared to an adjusted loss of $41 million for the same quarter last year. Adjusted loss excludes the impact of the PSRA, retiree health benefits expense, non-cash workers' compensation adjustments for the impacts of actuarial revaluation and discount rate changes, which are outside of management's control, and amortization expenses for the Civil Service Retirement System (CSRS) and the Federal Employee Retirement System (FERS) unfunded liabilities. On a U.S. generally accepted accounting principles (GAAP) basis, the Postal Service had net income of $59.7 billion for the quarter, compared to net loss of $3.0 billion for the same quarter last year, due almost exclusively to the non-cash impact of the PSRA. Marketing Mail revenue increased $324 million, or 9.4 percent, compared to the same quarter last year, on volume growth of 545 million pieces, or 3.5 percent. First-Class Mail revenue was essentially flat, compared to the same quarter last year, despite a volume decline of 620 million pieces, or 5.1 percent. Shipping and Packages revenue decreased $85 million, or 1.1 percent, compared to the same quarter last year, on a volume decline of 92 million pieces, or 5.0 percent, compared to the same quarter last year.

Q2 2022 HIGHLIGHTS * Dotdash Meredith revenue increased 568% year-over-year to $490 million, benefitting from the Meredith acquisition. o Digital revenue was $235 million and Print revenue was $260 million. o Operating loss of $28 million and Adjusted EBITDA of $39 million in Q2 2022. * Angi Inc. revenue increased 23% year-over-year to $516 million, the 7th consecutive quarter of double-digit growth and highest quarterly growth since 2018. o Angi Ads and Leads revenue increased 5% year-over-year, the first quarter of growth since Q2 2021. o Angi Services revenue was $151 million o Monetized Transactions were 4.7 million and Transacting Service Professionals were 220,000. o Operating loss improved to $21 million (compared to a loss of $33 million in Q2 2021) and Adjusted EBITDA improved to a profit of $10 million (compared to a loss of $4 million in Q2 2021).

Fiscal 2022 Full Year and Fourth Quarter Key Financial: *Fiscal 2022 full year revenues and net income were records at $10.39 billion and $760 million, respectively. Revenues grew 11% compared to $9.36 billion in the prior year and net income increased 95% compared to $389 million in the prior year *Full year Total Segment EBITDA was $1.67 billion, also a record and a 31% increase compared to $1.27 billion in the prior year. Reported EPS were $1.05 for the full year compared to $0.56 in the prior year *Fourth quarter revenues were $2.67 billion, a 7% increase compared to $2.49 billion in the prior year, while net income was $127 million, a substantial improvement from a net loss of $(15) million in the prior year *Fourth quarter Total Segment EBITDA was $315 million, a 50% increase compared to $210 million in the prior year. Reported EPS were $0.19 for the fourth quarter compared to $(0.02) in the prior year – Adjusted EPS were $0.37 compared to $0.16 in the prior year *Digital Real Estate Services revenues for the fiscal year grew 25% despite facing tough prior year comparisons, with 37% and 11% revenue growth at REA Group and Move, respectively *Book Publishing revenues grew 10% in the fiscal year, driven by the acquisition of the HMH Books and Media segment and continued strong consumer spending, which remains above pre-pandemic levels

No matter which way you look at it, sales of mass market paperbacks have been in steady decline since 2017. NPD BookScan data shows that unit sales fell 31.5% in 2021 compared to 2017, while the Association of American Publishers put the decline in dollar sales at a more disturbing 42.7% in 2020. Both data sets show more declines occurring in 2022. To be sure, the mass market paperback format has experienced ups and downs in the past. The last time PW wrote about the prospects for mass market paperbacks, in October 2014, the format was trying to recover from the shock it suffered due to the explosion of cheap e-books, especially in such important areas as romance and science fiction and fantasy. (Asked last week, during the DOJ’s trial to prevent PRH from acquiring S&S, whether he had made reductions in title output following the Random House–Penguin merger in 2013, PRH CEO Markus Dohle pointed to adjusting the number of mass market paperbacks published by Berkley/NAL in response to the flood of 99¢ and $1.99 self-published e-books that hit the market, luring away readers of genre fiction.)

FY2022 fourth quarter service performance scores covering July 22 through July 29 included: *First-Class Mail: 93.2 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 94 percent of Marketing Mail delivered on time against the USPS service standard, a decrease of 0.6 percentage points from the fiscal third quarter. *Periodicals: 86.3 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.

The expansion of the Old Navy business in Latin America continues as the brand announced Grupo Axo as Gap Inc’s exclusive franchisee for Old Navy in Mexico, just weeks after the brand’s debut of its first Caribbean store in the Dominican Republic through a franchise partnership with AR Retail S.A. The Dominican Republic serves as an important market for the brand and is another leg of Old Navy’s Central American expansion. The Dominican Republic store opening marks the third Old Navy franchise market launch in Latin America this year, following the brand’s most recent openings in Chile and El Salvador.

In times of crisis, we believe in stepping forward to help communities in need. And as we watched floodwaters rise in Kentucky, we knew it was again time to take action. Hundreds of people – from our associates to community members who make our stores part of their daily routine – have lost their homes, lost power or lost access to clean water. That’s where we decided to place our focus. Walmart, Sam’s Club and the Walmart Foundation have committed $750,000 in water, food and funding to organizations providing relief, and we’re working to make essential resources like showers and laundry available in our parking lots and supporting shelters. Since last week, more than 20 Walmart trucks carrying water and essential supplies have arrived in some of the hardest-hit Kentucky communities. And there are more on the way.

Second Quarter 2022 Financial Highlights: *Total revenues of $748.7 million decreased 6.9% compared to the second quarter of 2021 *Same store revenues(1) decreased 6.3% compared to the second quarter of 2021 *Total digital revenues were $261.8 million or 35% of total revenues, up 1.5% over the same period in the prior year on a same store(1) basis *Net loss attributable to Gannett of $53.7 million, a margin loss of 7.2% *Cash used for operating activities of $30.7 million

Gross profit increased 5% to $219.1 million, or 52.2% of sales, compared to $209.1 million, or 58.5% of sales, in the second quarter of 2021. The 630 basis point decrease in gross margin was primarily driven by higher inbound freight, higher product costs and the unfavorable impact of foreign currency exchange rates, partially offset by price increases. Selling, general, and administrative (“SG&A”) expenses increased 10% to $150.8 million, compared to $136.7 million in the second quarter of 2021. As a percentage of sales, SG&A expenses decreased 230 basis points to 35.9% from 38.2% in the prior year period, primarily driven by non-variable expense leverage on higher sales, partially offset by higher variable expenses driven by higher distribution and logistics costs. Operating income decreased 6% to $68.3 million, or 16.3% of sales, compared to $72.4 million, or 20.2% of sales during the prior year quarter. Net income decreased 18% to $46.3 million, or 11.0% of sales, compared to $56.2 million, or 15.7% of sales in the prior year quarter; Net income per diluted share decreased 16% to $0.53, compared to $0.63 per diluted share in the prior year quarter.

Total revenues for the second quarter of 2022 increased 11.5 percent to $555.7 million from $498.5 million in the second quarter of 2021. Subscription revenues increased 13.1 percent to $383.6 million, advertising revenues increased 4.1 percent to $117.4 million and other revenues increased 17.6 percent to $54.7 million. Total operating costs increased 19.6 percent in the second quarter of 2022 to $504.0 million compared with $421.4 million in the second quarter of 2021, while adjusted operating costs increased 18.2 percent to $479.5 million from $405.6 million in the second quarter of 2021.

Total reported sales for the second quarter of 2022 were $2.0 billion, down 2% compared to the second quarter of 2021 primarily due to fewer retail stores in service and greater market-wide challenges related to the sourcing and supply chain environment relative to last year. Retail Division sales were lower primarily due to 71 planned store closures and lower store traffic, which was offset by higher sales in our BSD Division. The Company drove stronger business-to-business (B2B) sales through its contract channel as more businesses continued to return to the office, which was partially offset by lower sales through its eCommerce channel compared to a year ago. The Company reported operating income of $28 million in the second quarter of 2022, down compared to operating income of $30 million in the prior year period. GAAP operating results in the second quarter of 2022 included $26 million of charges consisting primarily of $23 million in merger, restructuring and other operating costs largely associated with activities related to the Company’s previously planned separation.

The Association of American Publishers (AAP) released its StatShot report for May 2022 reflecting reported revenue for Trade (Consumer Books), Higher Education Course Materials, and Professional Publishing. The report does not include Pre-K revenue due to delays in data collection but will be updated as soon as that data becomes available. Total revenues across all categories, excluding PreK-12, for May 2022 were down 3.7% as compared to May 2021, coming in at $837.8 million. Year-to-date revenues were down 2.5%, at $4.6 billion for the first five months of the year. Trade (Consumer Books) sales were down 3.3% in May, coming in at $673.1 million. eBook revenues were down 5.7% for the month as compared to May 2021 for a total of $82.5 million. The Downloaded Audio format was up 6.2% for May, coming in at $65.2 million in revenue. Physical Audio was down 46.4% coming in at $1.2 million. Year-to-date Trade revenues were down 1.4%, at $3.5 billion for the first five months of the year. Hardback revenues were down 7.5%, coming in at $1.2 billion; Paperbacks were up 8.7%, with $1.3 billion in revenue; Mass Market was down 25.6% to $73.9 million; and Special Bindings were up 4.0%, with $68.8 million in revenue.

Hit by supply chain shortages, one more time. Britney Spears has reportedly finished writing what promises to be a bombshell of a celebrity memoir — but its publication date will apparently be delayed due to a lack of paper, according to TMZ. Back in February, Page Six exclusively broke the news that the Princess of Pop had signed a $15 million book deal with Simon & Schuster, which nabbed the contract following what was said to be a months-long bidding war amongst publishing houses for the rights to Spears’ autobiography. But now that the “Dear Diary” singer, 40, has at last been able to get it all down in writing, her life’s story won’t reach the eyes of the public for some time thanks to nationwide manufacturing upheavals that have resulted in a massive “paper crunch” in the book publishing industry, per Publishers Weekly.

*Reported Revenue Increased 42% vs. Prior Year and Decreased 5% vs. Pro Forma Revenue; Adjusted Revenue Decreased 5% vs. Non-GAAP Pro Forma Adjusted Revenue *Growth Across Five of Six Divisions, Offset by a Sharp Decline in Revenue Related to Debt Issuance *Reported Operating Profit Margin Decreased 530 Basis Points to 49.5% from Prior Year and Increased 1,140 Basis Points to 49.5% from Pro Forma Operating Margin *Company has Repurchased $8.5B in Shares YTD; on Track to Complete $12B ASR by Year-end

In the AAP’s newest StatShot update, May trade sales were mixed and sales of higher educational course materials fell, leading to a 3.7% sales decline compared to May 2021 for the 1,368 publishers that report sales to the association. The hardcover and mass market paperback formats had another tough month in the adult category with hardcover sales down 18.6% and mass market sales falling 47%. Trade paperback sales rose 3.1% in the month. The digital formats had mixed results with downloadable audio sales up 5%, but e-book sales falling 5%. Through May, adult sales were down 4.2% as hardcover sales fell 11.4% and mass market paperback sales tumbled 25.6%.

Sales on a reported and daily basis in the quarter increased 19.6% as compared to the second quarter of 2021. Excluding the unfavorable foreign exchange impact of 2.4%, sales on a daily, constant currency basis were up 22.0% compared to the second quarter of 2021. Gross profit margin for the second quarter of 2022 was 37.6%, a 255 basis point increase compared to the second quarter of 2021. The increase was driven by favorability in both segments and includes the lap of a $63 million pandemic product inventory adjustment in the prior year period within the High-Touch Solution N.A. segment. Operating earnings for the second quarter of 2022 of $534 million were up 60% versus the second quarter of 2021. Operating margin in the quarter of 13.9% increased 350 basis points over the second quarter of 2021 on stronger gross margins in both segments combined with 95 basis points of SG&A leverage gained on strong top-line growth.

Double-digit gains in the adult fiction and young adult categories led to a 4.4% increase in unit sales of print books in the week ended July 23, 2022, over the comparable week in 2021, at outlets that report to NPD BookScan. Where the Crawdads Sing by Delia Owens, five books by Colleen Hoover, and two new releases drove sales up 23.1% in adult fiction. Crawdads remained #1 on the category list, selling more than 123,000 copies. Led by It Ends with Us, Hoover’s top five titles sold about 295,000 copies combined. The new titles that cracked the top 10 in the category were Portrait of an Unknown Woman by Daniel Silva, which sold more than 40,000 copies, and Shattered by James Patterson and James O. Born, which sold more than 25,000 copies. YA fiction sales rose 15.6%. Jenny Han titles continued to do well, with five Han books selling about 83,000 copies combined. The top new release was Never Never by Serena Valentino, which sold about 9,000 copies. Adult nonfiction sales fell by a relatively mild 3.4% compared to the week ended July 24, 2021.

FY2022 fourth quarter service performance scores covering July 1 through July 22 included: *First-Class Mail: 93.0 percent of First-Class Mail delivered on time against the USPS service standard, a decrease of .3 percentage points from the fiscal third quarter. *Marketing Mail: 93.8 percent of Marketing Mail delivered on time against the USPS service standard, a decrease of .8 percentage points from the fiscal third quarter. *Periodicals: 86.4 percent of Periodicals delivered on time against the USPS service standard, a decrease of .3 percentage points from the fiscal third quarter.

*Operating cash flow decreased 40% to $35.6 billion for the trailing twelve months, compared with $59.3 billion for the trailing twelve months ended June 30, 2021. *Free cash flow decreased to an outflow of $23.5 billion for the trailing twelve months, compared with an inflow of $12.1 billion for the trailing twelve months ended June 30, 2021. *Net sales increased 7% to $121.2 billion in the second quarter, compared with $113.1 billion in second quarter 2021. Excluding the $3.6 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 10% compared with second quarter 2021. *Operating income decreased to $3.3 billion in the second quarter, compared with $7.7 billion in second quarter 2021. *Net loss was $2.0 billion in the second quarter, or $0.20 per diluted share, compared with net income of $7.8 billion, or $0.76 per diluted share, in second quarter 2021. Second quarter 2022 net loss includes a pre-tax valuation loss of $3.9 billion included in non-operating expense from our common stock investment in Rivian Automotive, Inc.

As stamps increase yet again with additional rate hikes planned in the coming months, Keep US Posted, an alliance consisting of consumer interests, industry groups, newspapers, nonprofits and businesses, is calling on USPS regulators to take action. The Postal Regulatory Commission (PRC) is accepting comments in response to concerns from Congress about the multiple postage hikes planned in Louis DeJoy’s “Delivering for America” plan. In its comments, Keep US Posted urged the Postal Regulatory Commission to fulfill its role as a watchdog for the public, rather than allow unnecessary postage rate increases to keep happening. The organization points out that several factors, including the new postal reform law (The Postal Service Reform Act), have changed the financial outlook for USPS and demand that the Postal Regulatory Commission review DeJoy’s proposed rate increases again.

Domtar continues to champion reliable, affordable mail service for all U.S. residents. We are proud to partner with Keep US Posted in advocacy efforts to strengthen the U.S. Postal Service and ensure strong service throughout the country without excessive postal rate hikes. Keep US Posted is an alliance consisting of consumer interests, industry groups, newspapers, nonprofits and businesses. The group is working to engage Americans to call for postal policy that preserves essential services, effectively and efficiently. Advocates are immediately concerned about planned postal rate hikes, particularly in light of the financial relief the Postal Service received in the recently passed postal service reform legislation. Executive director Kevin Yoder, a former congressman from Kansas, worked on postal issues during four terms in the U.S. House of Representatives.

The ACMA and its Postal Committee Chairwoman Deborah Damore from printer LSC Communications previously urged you to write to the Postal Regulatory Commission (PRC) in response to the Commission's call for comments concerning the impact of the size and timing of the August 2021 postage rate increase. That increase as well as the July 2022 rate hike were allowed following the PRC's November 2020 ruling granting greater pricing flexibility for the USPS. The deadline for submissions is this Sunday, July 31st. We also encourage you to view and share this video produced by Keep Us Posted, the market dominant mail advocacy coalition of which ACMA is a flagship member. Keep Us Posted also provides this template for contacting the PRC. The ACMA is also happy to assist in your efforts. Simply email staff@catalogmailers.org for assistance. www.catalogmailers.org

For years, major corporations, service providers and government agencies have surrendered to the temptation to cloak their cost saving efforts in a veneer of environmental virtue by claiming – without evidence – that going paperless is better for the environment. Two Sides North America (TSNA), the only industry organization to directly challenge this greenwashing, has been highly effective in stemming the tide of misleading declarations, persuading 170 major organizations to remove anti-paper environmental claims. However, as rising inflationary pressures drive cost cutting, greenwashing is once again on the rise. To help reverse this trend, TSNA has doubled down on its anti-greenwashing efforts, and with unprecedented success. So far this year, TSNA has already broken its full-year record for the number of corporations and other organizations it has persuaded to eliminate anti-paper greenwashing claims.

A new survey commissioned by Stora Enso in March 2022 among 2,400 book readers and listeners in the UK, France, Germany and the US showed that people still overwhelmingly prefer physical books (65%) to e-books (21%) or audiobooks (14%). And consumers are willing to pay a premium for carbon neutral books. “With the book market strong coming out of the pandemic, our goal with this survey was to gain insights into whether the market would stay that way in a post-pandemic world. And the answer we got was a resounding yes,” says Jonathan Bakewell, VP, Head of Segment Office and Book Papers, Stora Enso.

FY2022 fourth quarter service performance scores covering July 1 through July 15 included: *First-Class Mail: 93.2 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 93.7 percent of Marketing Mail delivered on time against the USPS service standard, a decrease of .9 percentage points from the fiscal third quarter. *Periodicals: 87.2 percent of Periodicals delivered on time against the USPS service standard, an improvement of .6 percentage points from the fiscal third quarter.

Bonnier LLC and Guy Harvey Enterprises have entered into a new partnership for the custom publishing and production of the award-winning Guy Harvey Magazine, the official publication of the Guy Harvey brand now in its 12th year. Bonnier will act as Guy Harvey Magazine’s full-service publishing house, handling all aspects of design, production and sales for the title. “Having worked with the Bonnier team on a number of projects for many years, I’m truly excited about this new partnership,” Dr. Guy Harvey said. “They are consummate professionals and leaders in the marine media genre. Bringing together our expertise in research, education and conservation with their knowledge and broad reach to our collective audiences is a perfect partnership.” Guy Harvey Magazine was launched in 2010 with an editorial focus on the Guy Harvey lifestyle, specifically on marine conservation, education, fishing, boating, scuba diving and adventure travel.

In February 2022, the Postal Service completed its obligations under the National Environmental Policy Act process and issued a Record of Decision to acquire up to 165,000 NGDV, with a commitment for at least 10 percent BEV. This decision was expressly designed to provide the Postal Service the flexibility to acquire significantly more BEV NGDV should financial and operational circumstances permit. Pursuant to this decision, the Postal Service then announced in March 2022 a purchase of 50,000 NGDV from Oshkosh Defense, including 20 percent BEVs. Now, under the new adjusted scope for the Supplemental Environmental Impact Statement (SEIS), the Postal Service proposes to limit its Decision to the 50,000 NGDV already purchased and to raise the minimum NGDV BEV percentage to at least 50 percent.

Macy’s announced that, as part of its Polaris strategy, the company will open four new off-mall, small-format stores this fall. The locations will include Market by Macy’s, a smaller store that offers customers more to love with its curated assortment of the latest fashion trends, as well as the first-ever dual Market by Macy’s and Macy’s Backstage off-price location. “At Macy’s, we thrive on retail being a dynamic business requiring continuous analysis, reinvention and innovation. As customer preferences and buying behaviors change, we continue to evolve to deliver the experience our customers expect,” said Marc Mastronardi, Chief Stores Officer at Macy’s. “As exciting brand extensions, Market by Macy’s and Macy’s Backstage each offer unique shopping experiences – one celebrates discovery and convenience, while the other appeals to the customer who loves the thrill of the hunt for a great value.”

More than 115,000 postal workers at Royal Mail are set to strike following the result of a ballot announced yesterday (19 July), while the postal operator has reported an 11.5% drop in sales in Q1, as it holds its 2022 Annual General Meeting (AGM) today. The Communication Workers Union (CWU), which represents Royal Mail Group workers, has voted by 97.6%, on a 77% turnout, to take action. This represents the biggest mandate for strike action ever reached since the 2016 Trade Union Act was implemented. The union is demanding that Royal Mail group enters into negotiations to secure a “straight, no-strings” pay increase for workers.

Bloomsbury announces its trading update for the four months ended 30 June 2022, ahead of the Company’s Annual General Meeting (“AGM”) at 12.00pm today. Bloomsbury experienced strong trading for the first four months of its financial year, with year-on-year sales growth of 27%, demonstrating resilience and maintaining momentum from the prior year’s outstanding performance. Consumer bestsellers in the period included Paul Hollywood’s Bake, the Harry Potter series by J.K. Rowling, and Sarah J. Maas’ titles. In the UK, according to Nielsen BookScan, Sarah J. Maas has sold just over one million print books to date. Sarah J. Maas is also one of the most popular authors on TikTok. Non-Consumer division growth was driven by continued strong demand for Bloomsbury Digital Resources. The first half of 2022 has seen record UK consumer book sales, reported by Nielsen**, supporting the view that increased reading is here to stay.

As a continuation of the company’s ongoing commitment to diversity, equity and inclusion (DEI), as well as family health and wellness,Kohl’s announced it is strengthening its support of the Milwaukee community with commitments totaling more than $2 million to eight nonprofit hometown partners. This renewal includes five hometown partners that help advance BIPOC communities, making progress against the company’s commitment to give $20 million in support of diverse communities by 2025. Through Kohl’s Hometown Partnerships, local nonprofits are able to continue programs that provide access to art and culture, health and social services, and other opportunities, including economic empowerment and neighborhood development. With these commitments, Kohl’s will continue its partnerships with Acts Housing, Boys & Girls Club of Greater Milwaukee, Employ Milwaukee, Greater Milwaukee Urban League, Milwaukee Art Museum, Ronald McDonald House Charities Eastern Wisconsin, Safe & Sound, and Zoological Society of Milwaukee. “Kohl’s is committed to serving families in the Milwaukee community, and we are proud to support these organizations that make a positive impact in our hometown,” said Tara Geiter, Kohl’s director of community relations. “Kohl’s hometown partners touch a wide range of social causes, which continue to be a priority for our community. We are excited to help these organizations expand their reach, and we look forward to deepening these hometown partnerships in the years to come.”

The Book Manufacturers’ Institute (BMI) released the July results for its monthly survey on capacity and lead times for soft cover and hard cover books. As demand has skyrocketed and supply chain woes continue to hamper all segments of manufacturing, BMI put together the survey to get a better idea of what manufacturers were facing and what publishers should expect. July started to show a little easing in the space. According to responses regarding hard cover books, the average manufacturer was running at 84% of their capacity, down from June’s 90%. The average lead time for completed hard cover books dropped a whole month, going from 104 days to 74 days. For soft cover books, capacity usage stayed at 91% and the average lead time dropped from 84 days to 56 days, based on 16 responses.

The United States Postal Service reported new delivery performance metrics for the first week of the fiscal fourth quarter. The latest numbers show First-Class Mail performance exceeded 93 percent on-time delivery for the 15th consecutive week. For the first week of FY2022 Q4, the average time for the Postal Service to deliver a mailpiece or package across the nation was 2.5 days. FY2022 fourth quarter service performance scores covering July 1 through July 8 included: *First-Class Mail: 94.0 percent of First-Class Mail delivered on time against the USPS service standard, an increase of .5 percentage points with performance from the fiscal third quarter. *Marketing Mail: 93.2 percent of Marketing Mail delivered on time against the USPS service standard, a decrease of 1.4 percentage points from the fiscal third quarter. *Periodicals: 86.9 percent of Periodicals delivered on time against the USPS service standard, an improvement of .5 percentage point from the fiscal third quarter.

The Postal Service filed with the Postal Regulatory Commission (PRC) certain classification changes designed to enhance and expand the First-Class Package Service (FCPS) product. This will simplify three of the USPS ground shipping options into one. USPS Retail Ground and Parcel Select Ground will be incorporated into one enhanced FCPS product. “We are improving service and simplifying product offerings for our customers,” said Postmaster General Louis DeJoy. “By upgrading the customer experience and optimizing our package processing and surface transportation networks, we are becoming the best option in the industry.” The changes are in keeping with the Delivering for America 10-year plan to achieve financial stability and service excellence, defined as meeting or exceeding 95 percent on-time delivery across all product categories.

Print publications are facing many challenges, not the least of which is one caused by that old partner: The U.S. Postal Service. The USPS has issued a rule that allows it to revoke an audit bureau’s authority to validate requesters, according to the National Newspaper Association (NNA). Requester newspapers are those that have more than 50% of their circulations paid or requested. That includes paid single-copy sales. The USPS can withdraw the audit bureau’s authority if it finds that its procedures are inadequate.

USA TODAY announced the launch of the ‘To the point’ brand campaign, in recognition of the 40th anniversary of USA TODAY which was first published on September 15, 1982. ‘To the point’ pays homage to the publication’s signature style of concise, approachable, and expert-driven journalism that serves as the nation’s source of clarity, empowering audiences. USA TODAY introduced color to the newspaper industry along with infographics and popular culture stories reflecting the people, places and perspectives of the nation. The brand has continued the legacy of innovation on digital platforms with immersive experiences and Augmented Reality (AR) reaching approximately 100 million people monthly.

ACMA Postal Committee Chairwoman Deborah Damore from printer LSC Communications posted this blog today, which we urge you to follow up on. In brief, in late May the Postal Regulatory Commission (PRC) urged all mail stakeholders to submit comments concerning the impact of the size and timing of the August 2021 postage rate increase, which was allowed since the PRC's November 2020 ruling allowing for greater pricing flexibility for the USPS. The deadline for submissions is July 31, 2022. The ACMA urges you to review the full blog and PRC letter and is happy to assist in your efforts. Simply email staff@catalogmailers.org for assistance. read the blog post at: https://blog.lsccom.com/call-to-action-for-all-mailers?utm_medium=email&_hsmi=219401895&_hsenc=p2ANqtz-_84hROQTOX2kQ-NX0e3benhIjt9cL1J3HVnNzlU4lI7pXjwTMJVEysNyZn-TTX5kMfjJJDX4tDGnR6pMmUV_mfqHWKBA&utm_content=219401895&utm_source=hs_email . read the PRC statement at: https://www.prc.gov/sites/default/files/Stakeholder%20input%20for%20appropriations%20act%20study.pdf

The Book Manufacturers’ Institute (BMI) is bringing back its industry event Book Manufacturing Mastered. The 2022 version will be held Thursday September 15th at the Westin Chicago North Shore. The first event was held February 10–11, 2020 in New York City just prior to the pandemic. Book Manufacturing Mastered 2022 will feature a morning “Paper School” that will cover all things paper. As it is one of the, if not THE, top challenges facing the industry today, attendees will learn how it’s made to its different properties, to the impact it has on the environment. After a networking lunch, the afternoon panel featuring both publishers and manufacturers will give everyone a lay of the land as it stands today. Then attendees will have the chance for roundtable discussions with publishers, printers and suppliers about the top challenges facing the industry today and how they can be addressed. Lastly, the day will end with a networking cocktail reception that will feature tabletop exhibits from printers and suppliers to allow publishers in attendance to speak directly with those that help bring their ideas to print.

The Association of American Publishers (AAP) today released its StatShot report for April 2022 reflecting reported revenue for Trade (Consumer Books), Higher Education Course Materials, and Professional Publishing. The report does not include Pre-K revenue due to delays in data collection but will be updated as soon as that data becomes available. Total revenues across all categories, excluding PreK-12, for April 2022 were down 12.6% as compared to April 2021, coming in at $788.3 million. Year-to-date revenues were down 2.3%, at $3.8 billion for the first four months of the year. Trade (Consumer Books) sales were down 8.9% in April, coming in at $685.7 million. eBook revenues were down 8.3% for the month as compared to April 2021 for a total of $84.3 million.

The United States Postal Service reported new preliminary delivery performance metrics for the fiscal third quarter ending June 30 showing continued service improvements across First-Class Mail, Marketing Mail and Periodicals. For the third quarter, the average time for the Postal Service to deliver a mailpiece or package across the nation was just 2.5 days. FY2022 third quarter service performance scores covering April 1 through June 30 included: *First-Class Mail: 93.5 percent of First-Class Mail delivered on time against the USPS service standard, an increase of 5.6 percentage points from the fiscal second quarter. *Marketing Mail: 94.7 percent of Marketing Mail delivered on time against the USPS service standard, an increase of 2.5 percentage points from the fiscal second quarter. *Periodicals: 86.3 percent of Periodicals delivered on time against the USPS service standard, an improvement of 4.8 percentage points from the fiscal second quarter.

Bauer Publishing, the team behind many of the UK's favourite puzzle magazines including Take a Crossword and the Eclipse franchise, has launched a mixed puzzle magazine containing brain training and traditional puzzles produced exclusively for Asda in partnership with Alzheimer’s Society. Asda Brain Boost is a compilation of memory games, mindfulness pages and classic puzzles to engage both the left and right sides of the brain. The magazine aims to encourage readers to develop and improve their cognitive skills, with beat-the-clock challenges and puzzles with increasing levels of complexity. Exclusively sold in Asda, every Asda Brain Boost sale, priced at £3.50 each, will see 52p donated to Alzheimer’s Society. This magazine represents a real opportunity for readers to both boost their own mental fitness, and help to raise much-needed funds for Alzheimer’s Society’s fundamental work.

Hearst Magazines International today announced the launch of the print edition of Harper’s BAZAAR Italy, further expanding the iconic fashion brand’s digital, social and experiential presence in the Italian market. Daria Veledeeva, formerly the editor-in-chief of Harper’s BAZAAR Russia, has been appointed editor-in-chief and will oversee the content strategy and development of the magazine. The announcement was made today by Hearst Magazines International President Jonathan Wright and Hearst Italy CEO Giacomo Moletto. “The prestige and influence of the Harper’s BAZAAR brand in the U.S. and around the world is unmatched and the print expression is an important experience – our audience engages deeply and marketers can therefore connect with them in a more profound way,” Wright said. “With Daria’s leadership, vision, and deep connections in the fashion industry, Harper’s BAZAAR Italy will be a must-read for anyone who is passionate about fashion, culture and the issues that matter today.”

Yankee Publishing Inc. (YPI), which sold a minority interest to its Employee Stock Ownership Plan in 2012, sold the remaining shares to the ESOP on June 30 of this year, making it a 100% employee-owned company. Founded in 1935, the firm publishes Yankee, the Old Farmer’s Almanac, New Hampshire Magazine and Family Tree Magazine.

After soaring 18.9% in the first half of 2021 over the comparable period in 2020, unit sales of print books retreated in the first half of 2022, dropping 6.6% from 2021 levels. According to NPD BookScan, total first-half print sales were 362.6 million, down from 386.6 million a year ago. All the major categories except adult fiction had declines, with the largest drop coming in the industry’s biggest category, adult nonfiction, where print sales fell 10.3%. Sales at the midpoint of 2022 were still about 15% above the first six months of 2019, the last prepandemic year, which many in the industry are using as a benchmark, in light of the unexpectedly strong subsequent two years of the pandemic. The 6.6% decline is also an improvement over the first quarter, which saw an 8.9% drop in sales compared to last year’s first quarter.

Keep US Posted, an alliance consisting of consumer interests, industry groups, newspapers, nonprofits and businesses, applauds the U.S. House Committee on Appropriations for directing the Postal Regulatory Commission, which governs the U.S. Postal Service, to study the impact of planned postage increases. The Committee’s action, included in the 2023 spending package, is a direct response to Postmaster General Louis DeJoy’s announcement that stamp prices will increase July 31 and every six months thereafter, despite this year’s bipartisan postal reform law designed to fiscally stabilize the Postal Service and prevent unnecessary postage hikes. “It is destructive for Postal Service leadership to squeeze every last drop of revenue from the mail at the expense of the American people,” said Keep US Posted Executive Director and former Congressman Kevin Yoder (R-Kans.). “In just a decade, Americans could be paying well over $1 to mail a single letter. Using the mail will become unaffordable for American families, as well as newspapers, nonprofits, and businesses that depend on the Postal Service. These excessive postage increases will decrease volume and revenue so much that it will ultimately hurt the Postal Service’s 650,000 workers and their ability to keep delivering for our country. Projected mail decline will become a self-fulfilling prophecy.

Third quarter highlights: *Third quarter earnings per share (EPS*) from continuing operations decreased 73.8 percent to $0.33, compared with EPS of $1.27 in the year-ago quarter; continuing operations adjusted** EPS decreased 30.0 percent to $0.96, down 28.9 percent on a constant currency basis against strong growth of 93.6 percent in the year-ago quarter reflecting peak COVID-19 vaccine volumes *Year-to-date EPS from continuing operations increased 190.6 percent to $5.49, compared with EPS of $1.89 in the year-ago quarter; continuing operations adjusted EPS increased 13.3 percent to $4.23, up 13.9 percent on a constant currency basis *Third quarter sales from continuing operations decreased 4.2 percent over the year-ago quarter to $32.6 billion, down 2.8 percent on a constant currency basis including a 720 basis point impact from AllianceRx Walgreens as anticipated *Third quarter operating income from continuing operations decreased to a loss of $320 million, compared to operating income of $1.1 billion in the year-ago quarter; adjusted operating income from continuing operations was $1.0 billion, down 33.5 percent on a constant currency basis *WBA sold 6.0 million shares of AmerisourceBergen common stock, with proceeds of $900 million *Completion of Boots strategic review, with decision to retain the business

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

Savvas Learning Company is pleased to announce that CEO Bethlam Forsa has been selected for membership in the Newsweek Expert Forum, an invitation-only community for pioneering thinkers and cross-industry business leaders. As a member, Forsa will regularly contribute original articles for Newsweek.com on a diverse range of topics impacting the world of education. “I am excited by the many opportunities the Newsweek Expert Forum will provide to share my perspectives on the most pressing challenges, emerging trends and urgent issues facing education today,” said Forsa. “I look forward to fostering conversations about how to address those challenges, support educators, students and families, and build better, more engaging and impactful education solutions in the future.”

July 1. That’s the expiration date for the contract that covers the International Longshore and Warehouse Union’s more than 22,000 workers at the 29 ports along the West Coast. Negotiations are ongoing, but experts think it is unlikely a deal will be reached before July 1. (In the past, contract talks have run beyond the expiration date and led to major disruptions to port operations.) The stakes are especially high this time around, however, as the negotiations are playing out amid a backdrop of global supply chain disruptions. Chain Store Age spoke with Spencer Shute, senior consultant at procurement and supply chain consultancy Proxima, part of Bain & Company, about the possibility of a shutdown and its impact on retailers.

The ballots have today (28 June) began landing at the homes of members of the Communication Workers Union (CWU), which represents postal workers, and the result will be known on 19 July. The union is demanding that Royal Mail Group negotiates with it to secure a “straight, no strings pay increase” for employees. At the time of writing, management intends to impose a 2% pay rise by executive action. The CWU said that in an economic climate where inflation has already soared to 11.7% by May, this would mean “a dramatic real-terms wage cut of Royal Mail employees, who were key workers during the height of the pandemic”. A CWU spokesperson said: “Britain’s postal workers are being forced into accepting a massive pay cut by the same people they have generated incredible profits for.

Savvas Learning Company is proud to announce that it has been named “LMS Solution Provider of the Year'' by the 2022 EdTech Breakthrough Awards program. The award honors the K-12 learning solutions provider for its popular Savvas Realize learning management system (LMS), recognizing the company as an innovator and leader “driving the global digital transformation of the education industry.” An award-winning platform since its inception, Savvas Realize is the publishing industry's most versatile LMS and the digital home to more than 1,000 high-quality, engaging Savvas programs. The single sign-on Realize platform allows educators to access a vast array of standards-aligned content, customize materials, monitor student progress, and create lesson plans and activity playlists. It also provides data-driven insights to help teachers differentiate instruction and personalized, real-world learning experiences to increase student engagement — all on one easy-to-use platform. Winners of this year’s EdTech Breakthrough Awards, which showcase technologies and companies that drive innovation and exemplify the best in edtech solutions, were selected from more than 2,250 nominations based on innovation, design, user experience, and overall technological advancement.

Magazine publisher Dotdash Meredith has temporarily stopped sending print editions of People and Better Homes & Gardens to some subscribers, citing a tight paper market. The New York-based company, which maintains an office campus in downtown Des Moines' Western Gateway, sent postcards to some readers this week, telling them they would not receive print editions of the magazines in the coming months. The company has offered those readers free subscriptions to digital editions of the magazines. A company spokesperson said in an email Friday that Dotdash Meredith stopped some distribution to "a limited number" of People and Better Homes & Gardens subscribers because of a "temporary global paper shortage." The subscribers involved represent about 7% of the company's total print subscriber base, the spokesperson said. The spokesperson did not answer a question from the Des Moines Register about whether the impact is concentrated in certain parts of the country.

Third quarter service performance scores covering April 1 through June 17 included: *First-Class Mail: 93.5 percent of First-Class Mail delivered on time against the USPS service standard, an increase of 5.6 percentage points from the fiscal second quarter. *Marketing Mail: 94.8 percent of Marketing Mail delivered on time against the USPS service standard, an increase of 2.6 percentage points from the fiscal second quarter. *Periodicals: 86.3 percent of Periodicals delivered on time against the USPS service standard, an improvement of 4.8 percentage points from the fiscal second quarter.

FedEx Express operating results improved in the fourth quarter driven by revenue management actions, including increased fuel surcharges. Global volume softness, driven by COVID lockdowns, geopolitical uncertainty, and slower economic growth, partially offset the year-over-year improvement. FedEx Ground operating results declined primarily due to higher self-insurance accruals and increased purchased transportation and wage rates. These costs were partially offset by higher revenue per package, including increased fuel surcharges. Average daily volume declined primarily due to yield management actions affecting the FedEx Ground Economy service. FedEx Freight operating results sharply increased, with operating margin improving 570 basis points to 21.8%. The improved results were driven by a 28% increase in revenue per shipment from the continued focus on revenue quality and profitable growth.

The Postal Service announced it will implement upgraded service standards for its USPS Retail Ground (RG) and Parcel Select Ground (PSG) products effective Aug. 1, 2022. Within the contiguous United States, service standards for these products will be accelerated from two- to eight-days to two- to five-days for the same affordable price. Items containing hazardous materials or live animals are not eligible for the upgraded service standards. RG is a ground shipping product for packages, thick envelopes and tubes (with a maximum weight of 70 pounds) that are not required to be mailed via First-Class Mail service and are available only through retail channels. PSG is an economical ground delivery service similar to RG for commercial shippers. The Postal Service is aligning the RG and PSG service standards with the current First-Class Package Service (FCPS) standards within the contiguous US. Processing this mail with FCPS packages will enhance customer service and better optimize the Postal Service’s package processing and surface transportation networks.

The startup publisher Troo Media this week launched what it describes as the first editorial platform built for the metaverse: a brand called TrooVRS, which delivers content focused on self-care for modern male audiences.The new brand was previewed at Cannes Lions, the festival in Cannes, France, that celebrates creativity in the field of branded communications. Content will target the interests and needs of men from all backgrounds, featuring topics like relationships, work, and physical and mental health. The launch of TrooVRS coincides with Men’s Health Month in June, a designation established by Congress in 1994 and sponsored by the Men’s Health Network, a consortium of health organizations.

FedEx Corp. announced it has received its first 150 electric delivery vehicles from BrightDrop, the technology startup from General Motors (GM) decarbonizing last-mile delivery. This marks a critical milestone for FedEx as the company plans to transform its entire parcel pickup and delivery (PUD) fleet to all-electric, zero-tailpipe emissions by 2040, and comes just months after BrightDrop’s commercialization of the Zevo 600 as the fastest vehicle to market in GM’s history.

N2, a local magazine company, will rebrand next week as “Stroll,” bringing all of its 650+ local print magazines under the same branding, executives tell Axios. Why it matters: The rebrand marks a major milestone for the company, which has grown to bring in more than $131 million in annual revenue. "The feedback from our readers is still overwhelming. If you produce unique content that people want to read about, they will read it. And in a very digital world, print is now cool again," said Duane Hixon, co-founder & CEO. The rebrand represents a shift in focus from delivering community news to finding ways to help neighborhoods build stronger connections. "Stroll" references casual neighborhood walks where people can get together. Stroll's logo is a mailbox.

USPS postage rates are set to increase on July 10, 2022. This is a large increase. Our last postage rate increase was in August of 2021, which was also a historic rate increase. It’s not all bad news in that direct mail still is very effective and driving response, we just have to get more creative to save on postage. So, what do the new rates that mean for you? The biggest takeaway from these rate changes is that presorted first class mail and flats are growing more and more expensive. Flats do have better ROI than letter size pieces even at increased postage though, so make sure you take that into consideration before you choose to no longer send flat size mail.

The Book Manufacturers’ Institute (BMI) released the June results for its monthly survey on capacity and lead times for soft cover and hard cover books. As demand has skyrocketed and supply chain woes continue to hamper all segments of manufacturing, BMI put together the survey to get a better idea of what manufacturers were facing and what publishers should expect. According to responses regarding hard cover books, the average manufacturer was running at 90% of their capacity, a slight drop from May’s 91%. The average lead time for completed hard cover books was up from 91 days, to 104 days. For soft cover books, capacity usage went from 92% down to 91% and the average lead time was up to 84 days, based on 15 responses.

For the third quarter to date, more than 93 percent of First-Class Mail was delivered on-time each week. For the past fifteen weeks, more than 93 percent of Marketing Mail was delivered on-time. Through the first eleven weeks of the third quarter, the average time for the Postal Service to deliver a mailpiece or package across the nation was 2.4 days. Third quarter service performance scores covering April 1 through June 10 included: *First-Class Mail: 93.5 percent of First-Class Mail delivered on time against the USPS service standard, an increase of 5.7 percentage points from the fiscal second quarter. *Marketing Mail: 94.8 percent of Marketing Mail delivered on time against the USPS service standard, an increase of 2.6 percentage points from the fiscal second quarter. *Periodicals: 86.5 percent of Periodicals delivered on time against the USPS service standard, an improvement of 5.1 percentage points from the fiscal second quarter.

Second Quarter Fiscal Year 2022 Financial Highlights: *Adobe achieved record revenue of $4.39 billion in its second quarter of fiscal year 2022, which represents 14 percent year-over-year growth or 15 percent in constant currency. Diluted earnings per share was $2.49 on a GAAP basis. *GAAP operating income in the second quarter was $1.53 billion. GAAP net income was $1.18 billion. *Cash flows from operations were $2.04 billion. *Remaining Performance Obligations (“RPO”) exiting the quarter were $13.82 billion. *Adobe repurchased approximately 1.9 million shares during the quarter.

The Association for PRINT Technologies (APTech) announced that it has made a strategic investment to acquire the printing industry’s leading independent media organization, WhatTheyThink. The move was unanimously approved by the APTech board and signals a continuing effort to help print businesses grow by providing a platform for education, inspiration, and connection. “We began a Strategic Business Plan in 2017, and this move is aligned with that plan and our efforts to continue to evolve as an association. We are really happy to be working more closely with an organization like WhatTheyThink that we’ve watched grow and evolve into the most important media company in the industry,” said Thayer Long, President of the Association for PRINT Technologies. “This investment signals both our commitment to our long-term business plan as well as a great deal of excitement for how aligned it is with the strategies and market position of WhatTheyThink.”

The Simon & Schuster adult trade imprint is pleased to announce the second annual BOOKS LIKE US First Novel Contest to facilitate accessibility to underrepresented writers and celebrate the diversity of readers across the United States. As the nation continues to strive for progress, Simon & Schuster aims to help catalyze that change by amplifying voices that represent us, by publishing books like us. Previously administered in 2021 by Gallery Books, the Books Like Us First Novel Contest will rotate among the various adult imprints at Simon & Schuster. A two-week entry period will begin on Tuesday, July 12, 2022.

A new Stora Enso survey among 2,400 book readers of all ages in the UK, France, Germany, and the US found that people still overwhelmingly prefer physical books for their look, their feel and even their smell. The study, rolled out during March 2022, showed 65% of respondents wanting physical books, versus 21% who preferred e-books and 14% audiobooks. The French showed the strongest preference for physical books of any nation. And most said they preferred to read or listen to fiction books for leisure and to get quality time alone. “These results confirmed our expectations that the market for physical books is set to stay strong, which is good news for our printer and publishing customers,” said Stora Enso’s Jonathan Bakewell, VP, Head of Segment Office and Book Papers. But there were some surprise results from the youngest group (16 to 24 years) polled, where 70% said they preferred physical books over e-books.

“Bloomsbury achieved its highest ever results with sales up 24% to £230.1 million and profits up 40% to £26.7 million. Sales were up 41% and profits up 70% from two years ago. Both the Consumer and Non-Consumer divisions gave outstanding and resilient performances, highlighting Bloomsbury’s unique strength in combining general and academic publishing. The Consumer division revenue grew by 25%, continuing the momentum of last year, and achieved a 25% increase in profit before tax and highlighted items1 to £17.8 million. The Non-Consumer division saw 23% revenue growth and a 68% increase in profit before tax and highlighted items1 to £9.1 million. Consumer revenue was 53% higher and Non-Consumer revenue 24% higher than two years ago. Bloomsbury Digital Resources (“BDR”) outperformed the target set six years ago of £15 million of sales and £5 million of profit, with sales of £18.6 million, up 50% on last year, and profit of £6.8 million, up £3.9 million on last year. Following this success, we have set ambitious new growth targets for BDR. Supporting our strong organic growth, we made three acquisitions during the year of ABC-CLIO LLC, the Red Globe Press list and Head of Zeus Limited.

Fourth Quarter Summar: *GAAP Results: Revenue of $546 million (+2%), Operating Income of $58 million (+14%), and EPS of $0.76 (+4%). Full Year Summary: *GAAP Results: Revenue of $2,083 million (+7%), Operating Income of $219 million (+18%), EPS of $2.62 (-0.4%), and Cash Provided by Operating Activities of $339 million (-6%) *Free Cash Flow of$223 million, down 13% due to one-time items in prior year *Digital Products and Tech-Enabled Services: 83% of total revenue *Recurring Revenue: 58% of total revenue

Pearson and TC Media announce the sale of ERPI (‘Éditions du renouveau pédagogique inc.’) by Pearson to TC Media. ERPI is a Québec educational publisher founded in Montréal in 1965 and acquired by Pearson in 1989. "We are proud to acquire ERPI, a long-standing educational publisher", said Patrick Lutzy, President of TC Media. "This acquisition fits perfectly with our growth strategy as it complements TC Media’s educational products offering, both print and digital, and provides an opportunity to further grow ERPI’s brand alongside our brands such as Chenelière Éducation, Beauchemin and Modulo. I wish a very warm welcome to ERPI’s team."

For the third quarter to date, more than 93 percent of First-Class Mail was delivered on-time each week. For the past 14 weeks, more than 93 percent of Marketing Mail was delivered on-time. Through the first nine weeks of the third quarter, the average time for delivery of mail and packages across the postal network remained just 2.4 days. Third quarter service performance scores covering April 1 through June 3 included: *First-Class Mail: 93.5 percent of First-Class Mail delivered on time against the USPS service standard, an increase of 5.6 percentage points from the fiscal second quarter. *Marketing Mail: 94.8 percent of Marketing Mail delivered on time against the USPS service standard, an increase of 2.7 percentage points from the fiscal second quarter. *Periodicals: 86.5 percent of Periodicals delivered on time against the USPS service standard, an improvement of 5.1 percentage points from the fiscal second quarter.

The New York Times Company will present its digitally-focused growth strategy to achieve its midterm operating and financial targets at its first Investor Day in many years. Executives will detail how The Times plans to achieve attractive, sustainable revenue and adjusted operating profit growth by adding subscribers to its differentiated portfolio of leading news and lifestyle products. The Times will also discuss the opportunity ahead for The Athletic. “Over the past five years, we have transformed The Times into a digital-first, subscription-first definitive market leader with more than 9 million subscribers and a goal of 15 million by year-end 2027,” said Meredith Kopit Levien, president and chief executive officer, The New York Times Company. “We believe we can become the essential subscription for every curious, English-speaking person seeking to understand and engage with the world. With this strategy, there is a tremendous long-term growth opportunity to attract and retain a larger audience driven by an expansive and connected product experience that makes us indispensable to millions of people in their daily lives.”

The bookselling team selected these ten titles, spanning fantastical debuts, deeply moving novels from literary powerhouses, timely works of ambition set in Ukraine, epic fantasies and book-loving rom-coms, as the best new releases so far this year. “All readers will find a book to love on our Best Books of 2022 (So Far) list,” said Jackie De Leo, Chief Merchandising Officer, Barnes & Noble. “It’s wonderful to see the mix of many debut authors alongside well-established literary darlings. The books are as different as the authors who penned them, yet their engaging narrative and their impact on the booksellers at Barnes & Noble is the common thread that weaves them together.” See the list at: https://www.barnesandnobleinc.com/press-release/barnes-noble-announces-best-books-2022-far/

For the first quarter, net sales were $540.9 million compared to $388.0 million in last year's first quarter. This 39.4% improvement primarily reflects a comparable sales increase of 40.6%, partially offset by 29 permanent store closures since last year's first quarter. The 40.6% comparable sales improvement was driven by an increase in transaction count and higher average dollar sale. Gross margin was $216.6 million, or 40.0% of net sales, compared to $126.8 million, or 32.7% of net sales, in last year's first quarter. The 730-basis point improvement in gross margin rate primarily reflects higher average unit retail and full price sales combined with occupancy leverage that offset elevated raw material and freight costs. At the end of the first quarter, inventories totaled $325.6 million compared to $209.7 million at the end of last year's first quarter. The $115.9 million, or 55.3%, increase from last year's first quarter primarily reflects elevated on-hand inventories to align with higher consumer demand, an increase in in-transit inventories due to extended in-transit times in the global supply chain, strategic investments in basics and replenishment inventories, and higher average unit costs.

Since physical retailers started seeing a rebound in business after the plunge in sales in the early days of the pandemic, Barnes & Noble CEO James Daunt has often said that stores in urban areas are having the toughest time recovering. It turns out B&N is not alone in that regard. Kristen McLean, executive director of business development and industry analyst for NPD Books & Entertainment, noted that sales in most retail segments in big cities are having a difficult time making up the ground lost since 2019. Looking at books in particular, eight of the country’s 10 biggest book markets have seen their sales performances this year through May 14 trail the 15% increase in the overall market compared to the similar period in 2019, while many midsize markets have seen substantial gains, according to BookScan data. BookScan analyzed print unit sales from two vantage points: actual changes in sales in 2022 vs. 2019, and how sales in different DMAs (designated market areas) in 2022 vs. 2019 compare to the 15% increase posted by the overall market.

Kohl’s Corporation announced that following the receipt of final proposals, the Kohl’s Board of Directors has entered into exclusive negotiations with Franchise Group, Inc. (“FRG”), a holding company of a collection of market-leading and emerging brands, for a period of three weeks in relation to FRG’s proposal to acquire the Company for $60.00 per share. The purpose of the exclusive period is to allow FRG and its financing partners to finalize due diligence and financing arrangements and for the parties to complete the negotiation of binding documentation. The transaction remains subject to approvals of the Boards of Directors of both companies. There can be no assurances that any agreement will be reached or that a transaction will be agreed or completed on the terms set forth above or otherwise. The Company will have no further comment until an agreement is reached or the discussions are terminated.

For eight consecutive weeks, more than 93 percent of First-Class Mail was delivered on-time. For the past 13 weeks, more than 94 percent of Marketing Mail was delivered on-time. Through the first eight weeks of the third quarter, the average time for delivery of mail and packages across the postal network remained just 2.4 days. Third quarter service performance scores covering April 1 through May 27 included: *First-Class Mail: 93.4 percent of First-Class Mail delivered on time against the USPS service standard, an increase of 5.6 percentage points from the fiscal second quarter. *Marketing Mail: 95 percent of Marketing Mail delivered on time against the USPS service standard, an increase of 2.8 percentage points from the fiscal second quarter. *Periodicals: 86.4 percent of Periodicals delivered on time against the USPS service standard, an improvement of 5 percentage points from the fiscal second quarter.

Fiscal 2022 First Quarter Operating Results Overview *Total net sales were $145.8 million, a decrease of $(17.4) million or (10.7)%, compared to a Company first quarter record of $163.2 million last year. Total comparable net sales, including both physical stores and e-commerce, decreased by (13.0)%. *Gross profit was $43.8 million, or 30.1% of net sales, compared to $54.8 million, or 33.6% of net sales, last year. *Operating income was $1.1 million, or 0.8% of net sales, compared to $14.9 million, or 9.1% of net sales, last year. *Net income was $0.8 million, or $0.03 per diluted share, compared to a Company first quarter record of $11.0 million, or $0.36 per diluted share, last year.

The United States Postal Service announced it will soon publish a Notice of Intent to supplement its environmental impact statement (EIS) related to its Next Generation Delivery Vehicles (NGDV) plan. The decision comes as the Postal Service accounts for expected changes following a recently announced plan to improve the Postal Service’s delivery network. The plan to modernize and aggregate delivery operations will make delivery routes more efficient, which may affect the appropriate mix of vehicles to be procured for the Postal Service’s delivery fleet, including NGDV. “As I noted when we placed our initial NGDV delivery order, the Postal Service would continue to look for opportunities to further increase the electrification of our fleet in a responsible manner, as we continue to refine our operating strategy and implement the Delivering for America plan,” said DeJoy. “A modernized network of delivery facilities provides us with such an opportunity. This is the right approach —operationally, financially, and environmentally.”

Gannett Co., Inc. announced a strategic organizational restructuring with the creation of two new U.S. operating business units, Gannett Media and Digital Marketing Solutions (DMS), which will be led by Maribel Perez Wadsworth and Kris Barton as Presidents of each business respectively. The evolved corporate structure is designed to align Gannett’s subject matter expertise and resources with favorable growth opportunities. As President of Gannett Media, Wadsworth will oversee an expansive organization that prioritizes content, news, business-to-business (B2B) and commitment to subscribers while continuing to accelerate Gannett’s digital subscriber growth. As President of Digital Marketing Solutions, Barton brings a unique mix of business, design and technical acumen to the position. He is dedicated to growing DMS offerings as a differentiated marketing platform. He and his team will further the transformation of the DMS business to ensure loyalty from existing customers who value the platform while attracting new customers to engage with the available digital solutions.

S&P Global is suspending financial guidance for the full year 2022. Macroeconomic conditions have deteriorated since S&P Global Inc. last provided financial guidance on May 3, 2022, negatively impacting the Company's expectations for GDP growth and debt issuance volumes. Given the volatility and uncertainty in the issuance environment, the Company cannot affirm its previously issued guidance and expects to reintroduce formal financial guidance in conjunction with its second quarter 2022 earnings results. Debt issuance volumes have been extraordinarily weak year-to-date. Should similar trends continue through the end of 2022, market issuance could see year-over-year declines in the high teens. Rated, or billed, issuance could be approximately 30-35% lower than the previous year, and leveraged loan volumes could be approximately 40% lower. In such a scenario, Ratings revenue could be negatively impacted by as much as $600 million relative to previous revenue guidance and the Company would expect Ratings adjusted operating margin in the high 50s range.

The Association of American Publishers (AAP) today released its StatShot report for March 2022 reflecting reported revenue for Trade (Consumer Books), Higher Education Course Materials, and Professional Publishing. The report does not include Pre-K revenue due to delays in data collection, but will be updated as soon as that data becomes available. Total revenues across all categories, excluding PreK-12, for March 2022 were down 4.2% as compared to March 2021, coming in at $804.4 million. Year-to-date revenues were up 1.1%, at $3.0 billion for the first three months of the year.

Through the first seven weeks of the third quarter, the average time for delivery of mail and packages across the postal network remained just 2.4 days. Third quarter service performance scores covering April 1 through May 20 included: *First-Class Mail: 93.5 percent of First-Class Mail delivered on time against the USPS service standard, an increase of 5.6 percentage points from the fiscal second quarter. *Marketing Mail: 95 percent of Marketing Mail delivered on time against the USPS service standard, an increase of 2.8 percentage points from the fiscal second quarter. *Periodicals: 86.5 percent of Periodicals delivered on time against the USPS service standard, an improvement of 5 percentage points from the fiscal second quarter.

First Quarter Fiscal 2022 - Financial Results: *Net sales of $3.5 billion, down 13% compared to last year. *Net sales growth in the first quarter fiscal 2022 was negatively impacted by an estimated 5 percentage points related to lapping the benefit of stimulus last year and approximately 3 percentage points from divestitures, store closures, and the transition of the company’s European business to a partnership model. *Comparable sales were down 14% year-over-year. *Store sales declined 10% compared to last year. The company ended the quarter with 3,414 store locations in over 40 countries, of which 2,825 were company operated. *Gross margin was 31.5%, 930 basis points lower than last year. *Operating loss was $197 million in the quarter; operating margin of negative 5.7%. *Net loss of $162 million

*Comparable sales up 12.8% on an owned basis and up 12.4% on an owned-plus-licensed basis *Diluted EPS of $0.98 and Adjusted diluted EPS of $1.08 *Increased financial flexibility through a number of financing transactions *Repurchased $600 million of shares under $2 billion share repurchase program *Reaffirmed annual sales guidance and raised Adjusted diluted EPS guidance

Ogden Newspapers is acquiring KPC Media, the publisher of numerous publications in northeast Indiana, the firm has announced. Terms were not disclosed. Conducted in partnership with Journal Gazette Co. and its Fort Wayne Newspapers, the purchase follows Ogden’s acquisition last year of Swift Communications, publisher of newspapers in Colorado, Utah and California markets. The KPC purchase includes three dailies: The News Sun, Kendallville; The Herald Republican, Angola; and The Star, Auburn.

Kohl’s is deeply committed to its retail footprint and is evolving its real estate approach to match the changing industry landscape and customer needs. Over the next three years, Kohl’s will increase its investment in store strategies that will improve the store experience for customers and associates, and over the next four years, about 100 new, smaller format stores will open in markets previously untapped by Kohl’s physical presence. “Kohl’s began with roots as a brick-and-mortar company, and these 60 years of experience have set the company up to become a leading omnichannel retailer,” said Mark Griepentrog, Kohl’s chief property officer. “Our strong and productive off-mall store base can continuously evolve with our customer’s expectations and demand, and we see substantial opportunities to leverage our real estate in producing long-term growth.”

For the first quarter, net sales increased 18.7 percent versus the same period in fiscal 2021, exceeding pre-pandemic sales levels, and gross merchandise value ("GMV") increased 19.6 percent. During the quarter, Nordstrom banner net sales increased 23.5 percent and GMV increased 24.8 percent. Net sales for Nordstrom Rack increased 10.3 percent and continued to show sequential improvement towards pre-pandemic sales levels.

Urban Outfitters, Inc. announced net income of $32 million and earnings per diluted share of $0.33 for the three months ended April 30, 2022. Total Company net sales for the three months ended April 30, 2022, increased 13.4% over the same period last year to a record $1.05 billion. Total Retail segment net sales increased 12%, with comparable Retail segment net sales increasing 11%. By brand, comparable Retail segment net sales increased 18% at the Anthropologie Group, 15% at the Free People Group and 1% at Urban Outfitters. Wholesale segment net sales increased 6%, driven by a 9% increase in Free People Group wholesale sales. Nuuly segment net sales increased by $15.0 million driven by a significant increase in our subscriber base. “We are pleased to announce record Q1 sales driven by an 11% Retail segment ‘comp’,” said Richard A. Hayne, Chief Executive Officer. “Unfortunately, the impact of inflation on our costs of doing business more than offset the benefit of record revenues,” finished Mr. Hayne.

A summary of results for the first quarter ended April 30, 2022 as compared to the first quarter ended May 1, 2021: *Net sales of $813 million, up 4% as compared to last year. *Gross profit rate of 55.3%, down approximately 810 basis points as compared to last year. The year-over-year decline is driven by approximately $80 million of higher freight costs, partially offset by higher average unit retail on lower promotions. *Operating expense, excluding other operating income, net, was up 5% compared to last year. Approximately half of the increase was due to the lapping of COVID-related rent abatements and payroll credits last year, and the other half due to an increase in marketing and digital fulfillment expenses. Operating expense as a percentage of sales increased to 56.9% from 56.2% last year. *Operating loss of $10 million and $6 million on a reported and adjusted non-GAAP basis, respectively, as compared to operating income of $57 million and $60 million last year, on a reported and adjusted non-GAAP basis, respectively.

Domestic revenue of $9.89 billion decreased 8.7% versus last year primarily driven by a comparable sales decline of 8.5%. Domestic gross profit rate was 21.9% versus 23.3% last year. The lower gross profit rate was primarily due to: (1) lower services margin rates, including pressure associated with the Best Buy Totaltech membership offering; (2) lower product margin rates, including increased promotions; and (3) higher supply chain costs. These pressures were partially offset by higher profit-sharing revenue from the company’s private label and co-branded credit card arrangement. Domestic GAAP SG&A was $1.74 billion, or 17.6% of revenue, versus $1.84 billion, or 16.9% of revenue, last year. International revenue of $753 million decreased 5.4% versus last year. This decrease was primarily driven by the exit of operations in Mexico in FY22 and a comparable sales decline of 1.4% in Canada. International GAAP gross profit rate was 24.3% versus 23.7% last year.

We continue to expand our delivery operations to help customers get the items they need when they need them, and it’s been an exciting journey. From Express delivery, where customers can have items delivered to their doorsteps in as little as two hours, to InHome, where they can get those orders placed right into their refrigerators, we’re proud to offer customers multiple options that help them save time and money. One solution we’ve been working on over the last year is delivery via drone. Today we’re announcing we’ll be expanding our DroneUp delivery network to 34 sites by the end the year, providing the potential to reach 4 million U.S. households across six states – Arizona, Arkansas, Florida, Texas, Utah and Virginia. This provides us the ability to deliver over 1 million packages by drone in a year.

Through the first six weeks of the third quarter, the average time for delivery of mail and packages across the postal network remained just 2.4 days. Third quarter service performance scores covering April 1 through May 13 included: *First-Class Mail: 93.4 percent of First-Class Mail delivered on time against the USPS service standard, an increase of 5.6 percentage points from the fiscal second quarter. *Marketing Mail: 95.0 percent of Marketing Mail delivered on time against the USPS service standard, an increase of 2.8 percentage points from the fiscal second quarter. *Periodicals: 86.7 percent of Periodicals delivered on time against the USPS service standard, an improvement of 5.2 percentage points from the fiscal second quarter.

In its full-year results for the 52-week period ended March 2022, the postal operator achieved revenue of £12.71bn, up 0.6% on the £12.64bn it achieved a year earlier. This included sales from its overseas parcels business GLS. On a reported basis, the company recorded a pre-tax profit of £662m, down 8.8% on last year, and an operating profit of £577m, down 5.6%. Its adjusted operating profit was up 8% at £758m while its adjusted pre-tax profit figure was up 6.5% at £707m. The business said that while the pandemic had resulted in an increase in parcel volumes, some of the tailwinds it experienced in the last year have subsided, and while it has seen a recovery in letter volumes, “parcel volumes and shifts in mix continue to be volatile”.

Average student spending on college course materials, including textbooks and digital materials, declined 22% during the 2021-2022 academic year according to new data reported today by independent research firm Student Monitor. The trend continues a decade long decline according to the research firm, with student spending on the category dropping a dramatic 44% between the 2011-12 and 2021-22 academic years. “Course materials are more affordable now than at any time in the past decade,” commented Eric Weil, Managing Partner, Student Monitor. “Student spending dropped 22% during the most recent year, coming in at an average of just $314, in large part because Students are tailoring their purchases to the requirements of their individual courses, and taking full advantage of some of the new affordable options.”

In FY 2021, the Postal Service had a net loss from operations of $2.7 billion, a $0.9 billion improvement from FY 2020. The decrease in net operating losses for FY 2021 was primarily due to $4.0 billion more revenue than in FY 2020. When non-operating expenses are included, the Postal Service had a total net loss of $4.9 billion in FY 2021—an improvement of $4.2 billion compared to FY 2020. While the Postal Service realized an overall improvement in total net losses in FY 2021, continued losses have expanded the gap between the Postal Service’s assets and liabilities. Total assets at the end of FY 2021 were $46.4 billion versus total liabilities of $122.1 billion. A significant portion of the Postal Service’s liabilities was driven by unpaid retiree health benefit (RHB) liabilities totaling $57.0 billion at the end of FY 2021. The recent enactment of the Postal Service Reform Act removes this $57.0 billion liability of past due RHB obligations and eliminates annual payments for the RHB normal costs and the Retiree Health Benefits Fund amortization. Market Dominant revenue decreased in FY 2021 by $97 million or 0.2 percent from FY 2020. Increases in revenue per piece for overall Market Dominant products were not enough to offset declines in volume and fluctuation in mail mix and signal the severity of the effects of the pandemic during that time. In FY 2021, Market Dominant volume declined while package volumes rose as a result of continued growth in e-commerce that included record holiday volume. These changes in volume affected overall revenues and cost in addition to workforce and workhour changes in response to pandemic-related labor costs.

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

*Total revenue was $141.6 billion, up 2.4%, negatively affected by $5.0 billion due to divestitures. *Walmart U.S. Q1 comp sales1 grew 3.0% and 9.0% on a two-year stack. *Walmart U.S. eCommerce sales grew 1% or 38% on a two-year stack. *Sam’s Club comp sales1 increased 10.2%, and 17.4% on a two-year stack. Membership income increased 10.5%. *Walmart International net sales were $23.8 billion, a decrease of $3.5 billion, or 13.0%, negatively affected by $5.0 billion due to divestitures. *Consolidated operating income was $5.3 billion, a decrease of 23.0%, negatively affected by $0.3 billion from divestitures.

Through the first five weeks of the third quarter, the average time for delivery of mail and packages across the postal network remained just 2.4 days. Third quarter service performance scores covering April 1 through May 6 included: *First-Class Mail: 93.5 percent of First-Class Mail delivered on time against the USPS service standard, an increase of 5.6 percentage points from the fiscal second quarter. *Marketing Mail: 95.0 percent of Marketing Mail delivered on time against the USPS service standard, an increase of 2.9 percentage points from the fiscal second quarter. *Periodicals: 86.8 percent of Periodicals delivered on time against the USPS service standard, an improvement of 5.3 percentage points from the fiscal second quarter.

After a successful launch last year, the U.S. Book Show returns with a full menu of programming for professional bibliophiles of all stripes. Highlights include PW Editors’ Picks panels, author chats, and Book Buzz panels done in cooperation with publishers. Check out the schedule here for a taste of what’s on offer and when it’s happening. On the pages that follow, you’ll find in-depth information on the discussions and meetup opportunities you won’t want to miss. Once again, there’s no need to head across town or fly across the country to participate. You’ll find everything at the U.S. Book Show website, usbookshow.com. All times given are in Eastern Time. see details at: https://www.publishersweekly.com/pw/by-topic/industry-news/bea/article/89326-the-u-s-book-show-returns.html

Postmaster General Louis DeJoy said the U.S. Postal Service will be forced to initiate “uncomfortable” price increases for market dominant USPS products such as first-class mail, marketing mail and periodicals, while shippers using Parcel Select Ground can benefit from use of cubic pricing. The USPS’s new pricing schedule goes into effect July 10, with the agency warning that twice-yearly pricing adjustments will be the norm going forward, even as the delivery service standard has slowed. The USPS delayed implementation of the service slowdown until after the peak holiday season. The recent Postal Reform Act’s undoing of mandated prefunding of retiree healthcare benefits will save $50 billion over 10 years by switching pensioners to Medicare – which many argue causes other economic liability issues. But DeJoy said that still leaves a projected $110 billion dollar USPS loss over that period.

The Book Manufacturers’ Institute (BMI) released the May results for its monthly survey on capacity and lead times for soft cover and hard cover books. As demand has skyrocketed and supply chain woes continue to hamper all segments of manufacturing, BMI put together the survey to get a better idea of what manufacturers were facing and what publishers should expect. May is the third month of the survey. According to responses regarding hard cover books, the average manufacturer was running at 91% of their capacity, up from April’s 85%. The average lead time for completed hard cover books dropped to 91 days, down from 103 in April. For soft cover books, capacity usage went from 94% down to 92% and the average lead time went back to March’s 70 days, based on 15 responses. See more at: https://www.bmibook.com/news/bmi-releases-industry-barometer-survey-results-for-may

For the Three Months Ended April 2, 2022: Sales increased 19% to $293.6 million, compared to $247.6 million during the same period last year. Gross profit increased 7% to $154.9 million, or 52.7% of sales, compared to $145.2 million, or 58.6% of sales, in the first quarter of 2021. The 590 basis point decrease in gross margin was primarily driven by higher inbound freight, including a 220 basis point impact of a non-recurring true-up of prior year freight costs, and an unfavorable impact of the non-renewal of the Global System of Preferences (“GSP”) program on import duties, partially offset by price increases and a favorable mix shift to our DTC channel. Operating income decreased 17% to $33.3 million, or 11.3% of sales, compared to $40.0 million, or 16.2% of sales during the prior year quarter. Net income decreased 16% to $25.7 million, or 8.7% of sales, compared to $30.5 million, or 12.3% of sales in the prior year quarter.

On June 2, Queen Elizabeth II of Great Britain will celebrate the 70th anniversary of her reign. To mark the occasion, the British government has commissioned the DK publishing house to produce an anniversary book. “Queen Elizabeth: A Platinum Jubilee Celebration” has a print run of more than 4.5 million copies and will be distributed free of charge to students at British primary schools from the middle of the month. For the first time in British history, a regent, Queen Elizabeth II, is celebrating the 70th anniversary of her reign, known as a Platinum Jubilee – and the whole country has been preparing for this extraordinary celebration for months. The Queen ascended the throne on June 2, 1952, and for this reason the government of the United Kingdom has proclaimed June 2 of this year, a Thursday, and the following Friday, a public holiday, giving Britons four full days, June 2 to 5, to celebrate the Platinum Jubilee. Alongside the many festivities, the official book to accompany the occasion, “Queen Elizabeth: A Platinum Jubilee Celebration,” will be distributed free of charge to British elementary schools. The book was produced by the DK publishing house, which secured the prestigious contract with Britain’s Department for Education following a tendering process last year.

A May 4 webinar hosted by Ingram Content Group addressed supply chain challenges, logistic delays, inflation, the role environmental impacts play on consumer shopping preferences, as well as how accessibility is increasing the reach for e-books and audiobooks. Participants included Rob Grindstaff, director of sales operations and product development for Ingram's Lightning Source; Ruth Jones, director of global sales and digital services at Ingram Content Group UK; and Gina Walpole, the senior services manager for Ingram Content Group UK. Panelists noted that troubles with the supply chain persist. Problems include a shortage of materials, increased freight prices, and port congestion. All of this is putting a strain on publishers as it becomes more difficult for them to accurately predict demand and, consequently, supply for a given title. It was pointed out that paper mills are operating at full capacity while some are shifting production from producing paper to packaging. Labor shortages persist across the logistics supply chain—and are predicted to carry into 2023. All this is resulting in rising costs.

* Dotdash Meredith revenue increased 665% year-over-year to $500 million, benefitting from the Meredith acquisition. o Digital revenue was $216 million and Print revenue was $290 million. o Operating loss of $56 million and Adjusted EBITDA of $9 million reflect $26.5 million of restructuring charges incurred and transaction-related items associated with the acquisition of Meredith incurred in Q1 2022. * Angi Inc. revenue increased 13% year-over-year to $436 million, the 6th consecutive quarter of double-digit growth. * Emerging & Other revenue increased 9% to $167 million.

The U.S. Postal Service today announced its financial results for the second quarter of its fiscal year 2022 (Jan. 1, 2022 - March 31, 2022), reporting an adjusted loss of approximately $1.7 billion for the quarter, essentially flat compared to the same quarter last year. Adjusted loss excludes non-cash workers' compensation adjustments for the impacts of actuarial revaluation and discount rate changes, which are outside of management's control. On a U.S. generally accepted accounting principles ("GAAP") basis, the Postal Service had a net loss of $639 million for the quarter, compared to a net loss of $82 million for the same quarter last year. The Postal Service's operating revenue was approximately $19.8 billion for the quarter, an increase of $896 million, or 4.7 percent, on volume growth of 886 million pieces, or 2.9 percent, compared to the same quarter last year.