February Bookstore Sales Dropped 22.3% (publishersweekly.com)

McGraw Hill announced that it has entered into a transaction support agreement to address its near-term debt maturities. The contemplated transaction will extend all material debt maturities through late 2024. “Following a strong performance in the critically important back-to-school period, we are pleased to announce a comprehensive refinancing that addresses all near-term debt maturities”, said Garet Guthrie, Executive Vice President and Chief Financial Officer. ”The comprehensive refinancing is underpinned by the confidence that lenders and investors have in our business and will allow us to continue to execute on our digital growth strategy and to unlock the potential of learners around the world.”

*Total net sales were $206.1 million, an increase of $65.8 million or 46.9%, compared to $140.3 million last year. -Net sales from physical stores were $165.3 million, an increase of $60.7 million or 58.1%, compared to $104.6 million last year. -Net sales from e-commerce were $40.8 million, an increase of $5.1 million or 14.3%, compared to $35.7 million last year. E-commerce net sales represented 19.8% of total net sales compared to 25.5% of total net sales last year. -Total comparable net sales for the third quarter of fiscal 2021 compared to the pre-pandemic third quarter of fiscal 2019 increased by 27.4%. *Gross profit was $76.7 million, or 37.2% of net sales, a record in the Company's history as a public company, compared to $40.7 million, or 29.0% of net sales, last year. *Operating income improved to $29.0 million, or 14.1% of net sales, compared to $3.5 million, or 2.5% of net sales, primarily due to the significant increase in net sales. *Net income improved to $20.8 million, or $0.66 per diluted share, which are third quarter records for the Company as a public company, compared to $2.1 million, or $0.07 per diluted share, last year.

Effective December 26, 2021, the published rates for our services will increase. This helps to support ongoing expansion and capability enhancements as we strive to maintain the high service levels you expect from UPS. Below is an overview of our 2022 Rates*. Package - The following changes will be effective December 26, 2021: The rates for UPS® Ground, UPS Air and International services will increase an average net 5.9% The following changes will be effective January 9, 2022: The Peak Surcharges will be renamed Peak/Demand Surcharges; The list of Zip Codes to which Area Surcharges apply will change. See updated Zip Code listings. details at: https://www.ups.com/us/en/shipping/rates-update.page?