Kohl’s Reports Third Quarter Fiscal 2022 Financial Results

The U.S. Postal Service announced its financial results for the first quarter of fiscal year 2024. The net loss for the quarter totaled $2.1 billion, compared to a net loss of $1.0 billion for the same quarter last year. Results for the quarter were negatively impacted primarily by non-cash workers’ compensation expenses due to actuarial revaluation and discount rate changes, the amortization of unfunded retiree pension liabilities, and the continued effect of inflation on operating expenses. Controllable income for the quarter was $472 million, compared to controllable income of $187 million for the same quarter last year, reflecting that the positive impacts of the Delivering for America plan are beginning to be realized. Total operating revenue was $21.6 billion for the quarter, an increase of $115 million, or 0.5 percent, compared to the same quarter last year. Revenue for the overall Shipping and Packages category increased $240 million, or 2.7 percent, on a volume increase of 98 million pieces, or 5.1 percent, compared to the same quarter last year. Marketing Mail revenue decreased $235 million, or 5.4 percent, on a volume decline of 2.4 billion pieces, or 13.5 percent, compared to the same quarter last year.

The House will vote today on legislation to avert a potentially devastating freight rail strike. While Congress races to avoid the disaster through a legislative fix, retailers and businesses are scrambling to establish backup plans if the strike of 100,000 union members moves ahead. Some companies are proactively shifting their shipping volume from rail to trucks and are considering changing the timing of orders and shipments.

Kohl’s Kitchen Products scored two of the top five most remembered print ads placed in culinary magazines in December, based on data from GfK MRI’s Starch Advertising Research. In the epicurean category, the highest noted ad score—that is, the percentage of readers of an issue who recalled noticing the advertisement—went to a two-page ad for the book “At the Southern Table with Paula Deen,” which appeared in the December issue of Cooking with Paula Deen. It scored a 90 percent. Two separate gatefold ads for Kohl’s Kitchen Products (Food Network Magazine) checked in at 89 and 82 percent, and KitchenAid Multi Major Appliances (Food & Wine) had a score of 85. Click Read More below for additional information.