Grainger Announces Agreement to Divest Fabory

Total revenues for the second quarter of 2021 increased 23.5 percent to $498.5 million from $403.8 million in the second quarter of 2020. Subscription revenues increased 15.7 percent to $339.2 million, advertising revenues increased 66.4 percent to $112.8 million and other revenues increased 8.7 percent to $46.5 million. Compared with the second quarter of 2019, total revenues increased 14.3 percent, as subscription revenues increased 25.4 percent, advertising revenues declined 6.6 percent and other revenues increased 3.3 percent. Total operating costs increased 12.4 percent in the second quarter of 2021 to $421.4 million compared with $374.9 million in the second quarter of 2020, while adjusted operating costs increased 15.4 percent to $405.6 million from $351.6 million in the second quarter of 2020. Compared with the second quarter of 2019, total operating costs increased 5.8 percent, while adjusted operating costs increased 6.5 percent.

When San Diego magazine abruptly ceased operations and laid off nearly all of its employees in late March, mere days after a statewide shelter-in-place order took effect in California, CEO and publisher Jim Fitzpatrick stressed that it was only a temporary pause and that he hoped the magazine would return when the local economy began to reopen. Three months later, the 72-year-old publication says it’s back in business. “This month, we are happy to announce that we have reopened our doors. We’re excited to once again tell the stories of the people and businesses making San Diego the incredible city it is,” wrote editor-in-chief Erin Meanley Glenny in a note posted on the the magazine’s website on Wednesday, adding that a “very small staff” is currently at work on an August/September print edition, in addition to resuming regular editorial content online.

The Postal Regulatory Commission released its advisory opinion on a Postal Service plan to revise the critical entry times (CETs) for some categories of Periodicals mail. The CET is the latest time a mailpiece may be tendered to the Postal Service and still have the day count when measuring that mail’s service performance. (Docket No. N2022-2). Specifically, the Postal Service proposes to standardize four of the five Periodicals CETs (i.e., CETs for all non-palletized Periodicals mail). Instead of the current CET range of 0800-1400 for the affected categories of Periodicals mail, the Postal Service proposes that all of those categories would share a CET of 0800. The Postal Service asserts that this change would “promote simplification of mail processing operations, and hence more effective allocation and use of processing personnel and equipment.” The Commission’s evaluation of the Postal Service’s proposal finds: *The proposed changes will likely enable the Postal Service to project more easily and accurately the Periodicals volumes and, therefore, will likely improve Periodicals processing. *The proposed changes are likely to result in more efficient use of the Postal Service’s equipment, particularly its bundle/package sortation machines. *A subset of affected Periodicals mailers have indicated that they will not be able to achieve the revised CETs and are likely to have an additional service day added to the delivery of their mailpieces. *The Postal Service has not analyzed how the expected impact on Periodicals mailers would affect Periodicals volumes, worksharing, or the recipients of Periodicals mail.