Hachette Book Group’s Acquisition Spree Continues (publishersweekly.com)

Parents magazine unveiled a fresh, new look with its September 2017 issue, on sale nationwide August 8. The dynamic redesign incorporates a modern logo, lively layouts and photography, and an evolved personality that reflects the candor, humor and confidence of today's mom. The September 2017 cover features Rebecca Minkoff – the fashion designer powerhouse and mother of two – as its Back-to-School Mom star with a personal interview and exclusive photos. Under the direction and leadership of Parents Editor-in-Chief Liz Vaccariello, the print redesign focuses on revitalizing the iconic brand. The magazine continues to offer readers its signature trusted content and focus on the needs of diverse millennial women in families of all shapes and sizes. Health and safety articles will advocate for every child's wellbeing, while the lifestyle coverage has evolved to reflect the millennial's unique mindset about food, home and travel. Click Read More below for additional details.

Costco Wholesale Corporation announced its operating results for the 16-week fourth quarter and the 52-week fiscal year, ended August 29, 2021. Net sales for the quarter increased 17.5 percent, to $61.44 billion from $52.28 billion last year. Net sales for the fiscal year increased 17.7 percent, to $192.05 billion from $163.22 billion last year. Net income for the fourth quarter was $1.670 billion, or $3.76 per diluted share, compared to $1.389 billion, or $3.13 last year. This year’s fourth quarter was negatively impacted by a write-off of certain information technology assets of $84 million pre-tax ($0.14 per diluted share). Last year’s fourth quarter was negatively impacted by incremental expense related to COVID-19 premium wages and sanitation costs of $281 million pretax ($0.47 per diluted share) and a $36 million pretax charge ($0.06 per diluted share) related to the prepayment of $1.5 billion of debt, partially offset by an $84 million pretax benefit ($0.15 per diluted share) for the partial reversal of a reserve related to a product tax assessment taken in fiscal year 2019. Net income for the fiscal year was $5.01 billion, or $11.27 per diluted share, compared to $4.00 billion, or $9.02 per diluted share in the prior year.

I appreciate the Governors’ approval of a budget but am disappointed that they declined to fund the Commission’s modest request of $22.6 million, less than .03 percent of Postal Service revenues. Most importantly, this process raised red flags about potential risks to the Commission’s independence. The Governors did acknowledge that the Commission’s total FY 2024 costs are $27.2 million. I thank the Governors for recognizing this, as it is important for the Commission’s trajectory. While the $27.2 million cited by the Governors is $1.5 million less than the Commission’s projected costs, this amount must serve as a baseline for FY 2025 and longer-term budgets funded by the Postal Service to avoid degrading the Commission’s capacity, eliminating positions in the understaffed agency, and stopping long overdue technology upgrades.