Dockworker vote avoids strike, alters automation

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.

For the eighth consecutive year, Midland Paper is a co-sponsor for the Inkjet Summit 2021 to be held July 26 – 28, 2021 in Austin, Texas. The Inkjet Summit is an exclusive invitation-only, hosted event designed for senior managers and business executives who want to understand how inkjet technology trends, software, consumables and finishing solutions will impact their businesses and help them shape their strategies for the future. David Field, Midland Paper’s General Manager for Specialty Paper & Films, will present a ‘Case Study’ illustrating effective print media options across a multitude of different production inkjet platforms. “The production inkjet equipment market continues to expand with OEM press announcements unveiled at a rapid rate, including a whole new wave of sheet fed inkjet options. In addition, new OEM inkjet presses are being developed for web and sheet fed configurations which adds to the complexity for printers who are aiming to make an inkjet equipment investment decision.” “We offer consultative advice for printers who plan on entering the production inkjet market. Midland Paper is truly OEM and Paper agnostic when it comes to objective advice in todays’ evolving production inkjet market”, quotes Mike Ratcliff, President of Midland Paper’s Specialty Paper & Film Division.

GAP INC. reported a third quarter fiscal year 2021 diluted loss per share of $0.40. Excluding fees associated with restructuring the company’s long-term debt and net charges related to strategic changes in its European operating model, adjusted diluted earnings per share were $0.27. Additional information regarding adjusted diluted earnings per share, which is a non-GAAP financial measure, is provided at the end of this press release along with a reconciliation of this measure from the most directly comparable GAAP financial measure. The company’s third quarter fiscal year 2021 net sales of $3.9 billion were down 1% compared to 2019 with supply chain disruption driving an estimated 8 percentage point negative impact due to constrained inventory.1 The company remains focused on digital dominance through investing in its ecommerce platform, strategically closing unprofitable stores and partnering to amplify in international markets. Online sales grew 48% compared to the third quarter of 2019 and represented 38% of the total business, even as store traffic continues to rebound. Investments in technology are driving an enhanced online experience as the company accelerates its digital strategy. Third quarter comparable sales were up 5% versus 2019. The comparable sales calculation reflects online sales and comparable sales days in stores that were open.