Lawyers Argue that E-book Price-Fixing Case Against Amazon, Big Five Publishers Should Proceed (publishersweekly.com)

The New York Times Company announced third quarter 2021 diluted earnings per share from continuing operations of $.32 compared with $.20 in the same period of 2020. Adjusted diluted earnings per share from continuing operations (defined below) was $.23 in the third quarter of 2021 compared with $.22 in the third quarter of 2020. Operating profit increased to $49.0 million in the third quarter of 2021 from $39.6 million in the same period of 2020 and adjusted operating profit (defined below) increased to $65.1 million from $56.5 million in the prior year, as higher subscription, advertising and other revenues more than offset higher costs.

Macy's announced the locations of four new small-format stores scheduled to open in fall 2023. These openings mark the first expansion of its small-format locations into the Northeast and Western regions of the United States, with openings in Boston, Las Vegas and San Diego. With small store opening momentum growing in the Midwest, the expansion also sees its third location in the region with the recent opening in Highland, Indiana. The eight previous locations continue to be known as Market by Macy's, whereas the upcoming small-format stores will bear just the iconic Macy's nameplate. Macy’s small format stores are designed to deliver a seamless experience with well-known market brands, Macy’s private brands, convenient services, local events and the latest trends, all within an easy-to-shop environment.

Commenting on the results, Nigel Newton, Chief Executive, said: “Bloomsbury achieved very strong results in the first half with year-on-year revenue growth of 22% to £122.9 million and profit growth of 23% to £15.9 million. These are our highest ever first half sales and profits. These results demonstrate the strength and resilience of our strategy of publishing for both the consumer and academic markets, our growth of digital revenues and our global diversification. Throughout this cost of living crisis, books remain an affordable treat. Reading offers a form of escapism and an ideal – and inexpensive – therapy for dealing with the stresses and strains of day-to-day life. The success of Bloomsbury Digital Resources (“BDR”) accelerated, with revenue growth of 69% driven by organic and acquired assets. This drove the Non-Consumer division’s revenue growth of 24% and a 54% increase in profit before tax and highlighted items1 to £7.1 million. Resilient demand saw the Consumer division revenue grow by 21%, achieving a 6% increase in profit before tax and highlighted items1 to £8.9 million. Our financial position is strong, with net cash of £41.5 million. This gives us significant opportunities for further acquisitions and investment in organic growth.