Over 93% First-Class Mail Delivered On-Time for 8 Consecutive Weeks

A union representing 6,000 rail workers, said its members have voted against ratifying the tentative contract that was brokered between rail companies, unions and the Biden administration in September. The Brotherhood of Railroad Signalmen is the second union to reject the White House-brokered agreement. Earlier this month, the Brotherhood of Maintenance of Way Employees Division of the Teamsters rejected the tentative contract over frustration with compensation and working conditions, with the biggest issue being a lack of paid sick days. The unions that voted down the agreement have vowed to continue negotiations at least until Nov. 19, when a strike could potentially occur, although the timeline is uncertain.

Total consolidated revenues increased 51.5 percent to $283.8 million, compared with total consolidated revenues of $187.3 million in the prior year period, reflecting strong growth in the Company’s three business segments along with contributions from PersonalizationMall.com (“PMall”), which the Company acquired in August 2020. Excluding the contribution from PMall, total net revenues increased 40.6 percent compared with the prior year period. Gross profit margin for the quarter was 40.7 percent, unchanged compared with the prior year period. Operating expenses as a percent of total revenues improved 630 basis points to 45.4 percent of total sales, compared with 51.7 percent of total sales in the prior year period. Excluding the impacts of the Company’s non-qualified deferred 401k compensation plan and one-time costs primarily associated with its acquisition of PersonalizationMall.com, operating expenses, as a percentage of total revenues improved 820 basis points to 43.5% in the quarter. This reflected the strong revenue growth in the quarter combined with the Company’s ability to leverage its operating platform.

With all but one category posting increases, unit sales of print books rose 8% in the week ended Aug. 22, 2020, over the comparable week in 2019 at outlets that report to NPD BookScan. Stephenie Meyer’s Midnight Sun, which sold nearly 59,000 copies in the week, continued to drive sales in the YA fiction segment, where print units rose 27.8% over the week ended Aug. 24, 2019. The YA nonfiction category had a 40.6% jump in sales, with Stamped by Jason Reynolds and Ibram X. Kendi remaining in first place in the category, selling more than 12,000 copies. Big Preschool Workbook stayed #1 in juvenile nonfiction, selling more than 34,000 copies and helping to drive up print unit sales up 36.3% over 2019.