Print Unit Sales Rose 7% at the End of August (publishersweekly.com)

The U.S. Postal Service today announced its financial results for the 2023 fiscal year ended September 30. The net loss totaled $6.5 billion, compared to net income of $56.0 billion for the prior year. The net income last year was due primarily to the one-time non-cash impact of the Postal Service Reform Act (PSRA) in April 2022 and the results this year were significantly affected by the impact of inflation on operating expenses. Results under GAAP include retiree benefits expense for the amortization of underfunded Civil Service Retirement System (CSRS) and Federal Employee Retirement System (FERS) plans, and workers’ compensation expenses caused by actuarial revaluation and discount rate changes, as well as the impact of the PSRA for the same period last year. The Postal Service reports its adjusted results excluding these costs. Total operating revenue was $78.2 billion for the year, a decrease of $321 million, or 0.4 percent, compared to the same period last year, as package revenue increases were offset by mail revenue declines. Revenue for the overall Shipping and Packages category increased $324 million, or 1.0 percent, on a volume decline of 175 million pieces, or 2.4 percent, compared to the same period last year. Marketing Mail revenue decreased $920 million, or 5.8 percent, on a volume decline of 7.7 billion pieces, or 11.4 percent, compared to the same period last year. Total operating expenses were $85.4 billion for the year, an increase of $5.8 billion, or 7.3 percent, compared to the same period last year.

We are firmly in the second wave of prepared meal kit delivery. Companies are specializing, doing more of the work for you, and are even built around specific devices. Which is what makes FirstChop intriguing, as it combines all of these new wave trends in its forthcoming service. Launching in December, FirstChop is looking to stand out in the competitive meal shipping space in few ways. First, it only does meal proteins: chicken, beef, lamb, etc.; no vegetables, no starches. Second, all those proteins are cooked, and then frozen and vacuum sealed, so you can eat them on your own schedule. And third, the Bay Area-based company is basically giving away a sous-vide wand so all customers have to do is put the frozen bag of meat in hot water to prepare it. For $109 (during pre-order, then it goes up to $139), customers can order the Starter Kit, which includes a sous vide wand and 9 servings of protein. There’s also the Family Box for $119 ($129 post pre-order), for 24 servings, and Co-Founder and CEO Ajay Narain told me that a third option with 14 servings will sell for $79. There is no monthly commitment. Click Read More below for additional information.

Retail supply chains are working overtime to keep up as consumers return to normal shopping patterns amid increased vaccination rates. “There’s no shortage of demand from consumers, but there continue to be shortages of labor, equipment and shipping capacity to meet that demand,” said Jonathan Gold, VP for supply chain and customs policy for the National Retail Federation. “Supply chain disruptions, port congestion and rising shipping costs could continue to be challenges through the end of the year.” Supply chains are finding it difficult to keep up with demand as shipping capacity struggles, added Ben Hackett, founder, Hackett Associates, which produces the monthly Global Port Tracker report for the NRF.