NRF: Congress Must Take Action to Avert Catastrophic Rail Strike (mytotalretail.com)

Third Quarter 2021 Financial Highlights: • Total revenues of $800.2 million decreased 1.8% compared to the prior year quarter ◦ Same store revenues increased 0.9% compared to the third quarter of 2020 • Total digital revenues were $265.0 million or 33.1% of total revenues, up 17.8% over the prior year period on a same store basis • Net income attributable to Gannett of $14.7 million • Net cash flow provided by operating activities of $40.8 million • Free cash flow of $29.3 million

FY23 third quarter service performance scores covering April 1 through April 14, included: *First-Class Mail: 91.5% of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal second quarter. *Marketing Mail: 95.8% of Marketing Mail delivered on time against the USPS service standard, an increase of 1.2 percentage points from the fiscal second quarter. *Periodicals: 87.8% of Periodicals delivered on time against the USPS service standard, an increase of 1.3 percentage points from the fiscal second quarter.

The Commission’s primary areas of review, its findings, as well as recommendations and directives, include: The Commission finds that all workshare discounts in effect in FY 2023 were in compliance at the time they were introduced in rate adjustment proceedings based on the most recent avoided costs available at the time. The Commission finds the Periodicals class, and both products within it, were non-compensatory in FY 2023. Additionally, the Commission identifies the following non-compensatory products in compensatory classes: (1) USPS Marketing Mail Flats, (2) USPS Marketing Mail Carrier Route, and (3) Media Mail/Library Mail. The Commission notes that two classes were fully compensatory in FY 2023, with both the class and all products within the class covering attributable costs: First-Class Mail and Special Services. Taken together, the Postal Service lost $1.34 billion in FY 2023 from non-compensatory classes and products. The Commission’s review of Competitive products finds that revenues for four Competitive products with rates of general applicability did not cover attributable costs and, therefore, did not comply with 39 U.S.C. § 3633(a)(2). The Commission also finds that the Postal Service’s Interagency Agreements provided a net contribution to the Postal Service in compliance with 39 U.S.C. § 3704.