Full-Year Ad Spending Surges 18% Vs. 2020, 9% Vs. 2019 (mediapost.com)

A May 4 webinar hosted by Ingram Content Group addressed supply chain challenges, logistic delays, inflation, the role environmental impacts play on consumer shopping preferences, as well as how accessibility is increasing the reach for e-books and audiobooks. Participants included Rob Grindstaff, director of sales operations and product development for Ingram's Lightning Source; Ruth Jones, director of global sales and digital services at Ingram Content Group UK; and Gina Walpole, the senior services manager for Ingram Content Group UK. Panelists noted that troubles with the supply chain persist. Problems include a shortage of materials, increased freight prices, and port congestion. All of this is putting a strain on publishers as it becomes more difficult for them to accurately predict demand and, consequently, supply for a given title. It was pointed out that paper mills are operating at full capacity while some are shifting production from producing paper to packaging. Labor shortages persist across the logistics supply chain—and are predicted to carry into 2023. All this is resulting in rising costs.

Reported net income for the quarter was $701 million, or $1.59 per diluted share, compared to $515 million, or $1.17 per diluted share, last year. Earnings per share increased $0.17 due to a net income tax benefit of $74 million, as a result of the new tax laws. Excluding this benefit, net income grew 22%. Net income for the first 24 weeks of fiscal year 2018 was $1.34 billion, or $3.04 per diluted share, compared to $1.06 billion, or $2.41 per diluted share, last year. For the four-week reporting month of February, ended March 4, 2018, the Company reported net sales of $10.21 billion, an increase of 12.8 percent from $9.05 billion during the similar period last year. For the twenty-six week period ended March 4, 2018, net sales were $68.51 billion, an increase of 12.0 percent from $61.18 billion during the similar period last year. Click Read More below for additional information.

First Quarter of Fiscal 2024 Compared to First Quarter of Fiscal 2023 *Net sales increased 3.5% to $2.7 billion compared to $2.6 billion, primarily due to increased comparable sales, new store contribution, and growth in other revenue. *Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 1.6% compared to the first quarter of fiscal 2023, driven by a 1.3% increase in transactions and a 0.3% increase in average ticket. *Gross profit increased 1.4% to $1.07 billion compared to $1.05 billion. As a percentage of net sales, gross profit decreased to 39.2% compared to 40.0%, primarily due to lower merchandise margins and higher inventory shrink, partially offset by growth in other revenue. *Operating income was $400.9 million, or 14.7% of net sales, compared to $442.1 million, or 16.8% of net sales.