Clogged Ports Put Fall, Holiday Shipments in Doubt (wsj.com)

The New York Times Company announced second quarter 2023 diluted earnings per share of $.28 compared with $.37 in the same period of 2022. Operating profit increased to $55.8 million in the second quarter of 2023 from $51.7 million in the same period of 2022, and adjusted operating profit (defined below) increased to $92.2 million from $76.2 million. In each case, the increase was due to higher digital subscription and other revenues, partially offset by higher operating costs.

The U.S. Postal Service announced its financial results for the first quarter of fiscal year 2023 (Oct. 1, 2022 - Dec. 31, 2022). The Postal Service's operating revenue was $21.5 billion for the quarter, an increase of $206 million, or 1.0 percent, on a volume decline of 1.7 billion pieces, or 4.8 percent, compared to the same quarter last year. Marketing Mail revenue decreased $106 million, or 2.4 percent, on a volume decline of 879 million pieces, or 4.7 percent, compared to the same quarter last year. Revenue declined at a lesser rate than volume due to price increases. Marketing Mail has been challenged by commercial mailers’ increasing use of digital and mobile advertising, which was accelerated by the pandemic. Nevertheless, Marketing Mail has generally proven to be a resilient marketing channel, and its value to U.S. businesses remains strong due to customer returns on investment and better data and technology integration.

In response to Hurricane Maria, which hit Puerto Rico on September 20, a number of agents, editors, and authors in the children’s book community and beyond have joined together to hold an online talent auction in support of Puerto Ricans affected by the storm. All proceeds for the #PubforPR auction, which runs through October 5, will go to local charity organizations, Unidos por Puerto Rico and ConPRmetidos. The cause began to take shape on September 24, when a group of five authors and publishing professionals—Nova Ren Suma, Patrice Caldwell, Mara Delgado, Carrie DiRisio, and Kara Thomas—learned of the devastation caused by the storm. Thomas, a YA author, told PW, “I had been talking privately with friends about how frustrated we were with the lack of government response to the situation in Puerto Rico.” Thomas later connected with fellow members of the children’s book community, in response to DiRisio’s tweet about starting a charity auction. “So many other writers were replying to the thread, asking if they could help,” she said. “We mobilized via email and came up with a plan for approaching agents, editors, and authors for donations. Once we reached out, the response was enormous.” Click Read More below for more of the story.