Discover Financial Services Reports Second Quarter Net Income of $546 Million

ModusLink Global Solutions™, Inc. and Steel Partners Holdings announced that ModusLink has completed the acquisition of privately-held IWCO Direct, a leading provider of data-driven direct marketing solutions, for $476 million in cash. Warren Lichtenstein, Executive Chairman of ModusLink, said, “We have been looking to acquire a profitable business with attractive operations and financials, and with a strong management team in order to leverage our approximately $2.1 billion in net operating loss carryforwards (NOLs) and cash. We found a great fit in IWCO Direct. We essentially double the size of our Company and add significant earnings and free cash flow. We add a market leader with industry-leading solutions, a client base consisting of Fortune 500 companies, and significant opportunities to drive both top- and bottom-line results. We intend to aggressively grow IWCO Direct, organically and through acquisitions, and will look to leverage Steel Partners’ vast relationships and resources to drive operational excellence and enhance stakeholder value.” Click Read More below for additional information.

1-800-FLOWERS.COM, Inc. announced that Personalization Universe®, a destination developed by the company featuring a curated assortment of distinctive customizable gifts and keepsakes, has joined its family of brands. This new brand offers shoppers a personalized option for their gifting needs and is part of the company's ongoing strategy to provide customers with a one-stop shop for all celebratory occasions. In addition to Personalization Universe, the 1-800-FLOWERS.COM, Inc. portfolio of brands includes 1-800-Baskets.com®, Cheryl's® cookies, FruitBouquets.com, Harry & David®, Moose Munch® premium popcorn, Simply ChocolateSM, The Popcorn Factory®, and Wolferman's®. "We are pleased to add Personalization Universe to our growing family of gifting brands," said Chris McCann, Chief Executive Officer, 1-800-FLOWERS.COM, Inc. "We've been testing the personalized business for some time, while closely monitoring the retail environment and ultimately identifying a strong opportunity within the customized gifts space. What resulted was the creation of a dedicated destination for a carefully curated assortment of unique items that may be personalized, providing gift-givers with truly special ways to act on their thoughtfulness." Click Read More below for additional information.

Print media consumption rose in 2023, and this trend should continue in 2024, according to a study by Pew Research Center. MRI-Simmons reports that 80%+ of 100+ national magazines have lower readership than they did a decade ago. But, over the past two years, nearly 90% of those have maintained or actually increased readership. Catalogs are also growing apace. "Amazon’s Holiday Dash catalog which tops 100 pages, has been described as a mashup of the iconic Sears catalog and Highlights magazine," Pew writes.