Excess inventory continues to hang around (chainstoreage.com)

Sears Holding Corp. has announced yet another round of store closures, with Kmart taking a big hit. The embattled retailer said it will close 63 stores, including 45 Kmart locations and 18 Sears stores. The stores will close after the holidays, in late January. But liquidation sales will begin as early as Nov. 9. “Sears Holdings continues its strategic assessment of the productivity of our Kmart and Sears store base and will continue to right size our store footprint in number and size,” the retailer stated in an announcement on its website. “In the process, as previously announced we will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members.” Click Read More below for additional information.

The Association of American Publishers (AAP) today released its StatShot report for July 2021 reflecting reported revenue for all tracked categories, including Trade (Consumer Books), K-12 Instructional Materials, Higher Education Course Materials, and Professional Publishing. Total revenues across all categories for July 2021 were up 6.9% as compared to July 2020, coming in at $1.65 billion. Year to date revenues were up 15.6%, at $8.0 billion for the first seven months of the year. Trade (Consumer Books) sales were up 9.7% in July, coming in at $750.7 million, and up 15.8% year to date, with $4.9 billion in revenue. more at source: https://publishers.org/news/aap-july-2021-statshot-report-publishing-industry-up-6-9-for-month-and-15-6-year-to-date/

Fourth Quarter 2022 Results - Sales increased 1% to $448.0 million, compared to $443.1 million during the same period last year. Sales include a $38.4 million unfavorable impact related to the voluntary recalls, which impacted certain products in Coolers & Equipment. Gross profit decreased 34% to $167.0 million, or 37.3% of sales, compared to $254.8 million, or 57.5% of sales, in the fourth quarter of 2021. Gross profit included a $97.0 million, or 1,700 basis points, unfavorable impact related to the voluntary recalls. Gross profit was also negatively impacted by higher inbound freight, higher product costs, and the unfavorable impact of foreign currency exchange rates, partially offset by favorable channel mix and the price increases implemented in the first quarter of 2022. Full Year 2022 Results - Sales increased 13% to $1,595.2 million, compared to $1,411.0 million in the prior year. Sales include a $38.4 million unfavorable impact related to the voluntary recalls, which impacted certain products in Coolers & Equipment. Gross profit decreased 6% to $763.4 million, or 47.9% of sales, compared to $816.1 million, or 57.8% of sales in the prior year. Gross profit included a $97.0 million, or 480 basis points, unfavorable impact related to the voluntary recalls. Gross profit was also negatively impacted by higher inbound freight, higher product costs, and the unfavorable impact of foreign currency exchange rates, partially offset by the price increases implemented in the first quarter of 2022.