Five Industries That Still Prefer Print — And Why

Fiscal 2022 Third Quarter Operating Results Overview: *Total net sales were $177.8 million, a decrease of $28.2 million or 13.7%, compared to $206.1 million last year. Total comparable net sales, including both physical stores and e-commerce ("e-com"), decreased by 14.9%. *Gross profit, including buying, distribution, and occupancy costs, was $54.6 million, or 30.7% of net sales, compared to $76.7 million, or 37.2% of net sales, last year. *Operating income was $6.3 million, or 3.6% of net sales, compared to $29.0 million, or 14.1% of net sales, last year, due to the combined impact of the factors noted above. *Net income was $5.1 million, or $0.17 per diluted share, compared to $20.8 million, or $0.66 per diluted share, last year. Weighted average diluted shares were 30.0 million this year compared to 31.4 million last year.

Amazon announced 2020’s Best Books of the Year, selecting Brittany K. Barnett’s “A Knock at Midnight” as the top pick. The inspiring true story is a brilliant memoir of Barnett’s own journey navigating the criminal justice system, which also chronicles the stories of three of her clients. Their lives—including their crimes, their families, and their jail time—are rendered with such care and compassion that the Amazon Books Editors found it impossible to put down. The process of choosing the Best Books of the Year begins the year prior, as the Amazon Books Editors begin debating the list for January’s Best Books of the Month. The editors collectively read thousands of books each year in service of creating an editorially curated list and reviews each month. These monthly lists culminate in the Best Books of the Year, which includes an overall Top 100 for 2020 as well as top lists for individual genres like literature & fiction, mystery and thriller, children’s books, cookbooks, food & wine, and young adult—all to help customers find their next favorite book or thoughtful holiday gift pick.

UPS announced fourth-quarter 2022 consolidated revenues of $27.0 billion, a 2.7% decrease from the fourth quarter of 2021. Consolidated operating profit was $3.2 billion, down 17.9% compared to the fourth quarter of 2021, and down 3.3% on an adjusted basis. Diluted earnings per share were $3.96 for the quarter; adjusted diluted earnings per share of $3.62 were 0.8% above the same period in 2021. For the fourth quarter of 2022, GAAP results include a net benefit of $299 million, or $.34 per diluted share, comprised of a non-cash, after-tax mark-to-market (MTM) pension gain of $782 million, a one-time, non-cash, after-tax charge of $384 million resulting from accelerated vesting of restricted performance units in connection with a change in incentive compensation program design, a non-cash, after-tax charge of $58 million due to a reduction in the residual value of the company’s MD-11 aircraft and after-tax transformation and other charges of $41 million.