PRC Outlines Activities in FY 2023 Annual Report to the President and Congress

*First quarter net sales decrease 57% *Reopened 90 percent of stores to date with reduced hours *Actions taken in response to COVID-19 to preserve liquidity. The decrease in net sales for the first quarter of 2020 compared to the prior year reflects the temporary closure of all stores on March 19 due to the COVID-19 pandemic. Omni sales for the first quarter increased 17 percent over last year. In April, omni sales were 47 percent higher than last year driven by fulfillment from closed stores where allowed. Beginning April 23, the Company began the staggered reopening of stores with reduced hours. To date, the Company has reopened 255 of its 281 stores in accordance with local government guidelines. Traffic in stores has steadily increased each week since reopening and omni sales have continued to be strong, even as more stores opened. Sales continued to recover in May, but remained well below last year.

They say that 60 is the new 50 and 40 is the new 30. I hesitate to write that 30 is the new 20, as I appreciate the intellectual maturity and emotional intelligence I gained during that 10-year window in early adulthood. With the September/October issue, our biggest issue in over a decade, as VERANDA celebrates its 30th anniversary, it’s safe to say that the magazine, too, has earned a certain level of circumspection and discernment, but with an unjaded, spirited vigor that helps us see the best the world has to offer. It’s our hope to bring gravitas and authority to the subject of living well, while still approaching the topic with childlike wonder and bridging the two viewpoints. There’s nothing worse than a blasé, I’ve-seen-it-all editor. An anniversary shouldn’t be about wallowing in the past. A healthy bit of reflection is good for anyone, but the occasion should be about taking stock and focusing on the future and new opportunities that await. This issue features a larger dynamic logo, Oprah’s private rose garden, as well as the very first person to appear on a VERANDA cover (and it’s actually three people: Atlanta homeowner Taylea Fowler and her two adorable twins). Fine jewelry coverage has been a hallmark of the magazine for 20 years, and we expanded it for this issue, featuring 17 pieces of the most beautiful pearl jewels in the marketplace. Click Read More below for more of the story.

FY23 first quarter service performance scores covering Oct. 1 through Dec. 9 included: *First-Class Mail: 91.7 percent of First-Class Mail delivered on time against the USPS service standard, a decrease of 1.4 percentage points from the fiscal fourth quarter. The current data reflects a year over year increase of one percentage point compared to the same period in the FY22 peak holiday season. *Marketing Mail: 94.1 percent of Marketing Mail delivered on time against the USPS service standard, a slight decrease of 0.7 percentage points from the fiscal fourth quarter. The current data reflects a year over year increase of 1.9 percentage points compared to the same period in the FY22 peak holiday season. *Periodicals: 85.5 percent of Periodicals delivered on time against the USPS service standard, a decrease of 1.3 percentage points from the fiscal fourth quarter. The current data reflects a year over year increase of 3.5 percentage points compared to the same period in the FY22 peak holiday season.