Savvas Learning Company’s enVision Mathematics © 2024 Earns Highest Rating from EdReports

Time Inc. is reducing the circulation and frequency of a number of its titles to “sustain its print business,” focusing on its core readership with heftier issues. The goal is to attract advertisers to a more valuable audience. Time Inc. confirmed to Publishers Daily it will cut the circulation of Time and People en Español, as well as reduce the frequency of the latter, Sports Illustrated, Fortune, Money and Entertainment Weekly. Time magazine will cut its circulation by one-third, from 3 million to 2 million per issue. Its frequency will stay the same at 44 issues per year. People en Español will lower its circulation from 540,000 to 500,000 and cut two of its issues to print nine a year. Sports Illustrated will drop from 38 issues a year to 27. Fortune’s frequency will change to monthly, from 16 issues a year. Money will drop to 10 issues from 11. Entertainment Weekly will cut four issues and appear 34 times a year in 2018. Click Read More below for additional information.

"We are pleased to report another strong quarter of financial results. In fact, our operational execution led to year-over-year growth in Adjusted EBITDA and further improvement to our same store revenue trends. Same store revenue trends improved sequentially for the sixth consecutive quarter, and we remain on track and expect to hit the revenue growth inflection point as we exit 2024. Each of our digital revenue streams continued to grow over the prior year, and as a result, total digital revenues now account for 44% of total revenues." "As part of our strategy, we continued to further optimize our capital structure. During the second quarter, we repaid $24.3 million of debt, which combined with our Adjusted EBITDA growth, reduced our first lien net leverage below 2.0x. Equally important, our total net debt fell under $1.0 billion for the first time since the 2019 acquisition of legacy Gannett, and we continued to maintain a strong liquidity position with approximately $99 million in cash on the balance sheet."

The company’s second quarter fiscal year 2021 net sales of $4.2 billion were up 5% compared to 2019. Gross profit: $1.82 billion, an increase of $267 million or 17%. Gross margin: 43.3%, an increase of 440 basis points. Comparable sales were up 3% year-over-year, and up 12% versus 2019. The comparable sales calculation reflects online sales and comparable sales days for stores that were open on the same days in both the current and prior comparable period. Old Navy Global: Net Sales were up 21% versus 2019, with Old Navy maintaining its position as the #2 apparel brand in the U.S.1 Comparable sales were flat to last year and up 18% versus 2019. Gap Global: Net Sales declined 10% versus 2019, with permanent store closures resulting in an estimated 14% sales decline, and international COVID-closures driving an estimated 1% decline on a 2-year basis. Global comparable sales declined 5% year-over-year and increased 3% versus 2019. Banana Republic Global: Net Sales declined 15% versus 2019, with permanent store closures resulting in an estimated 10% sales decline, and international COVID-closures driving an estimated 1% decline on a 2-year basis. Comparable sales were up 41% year-over-year and down 5% versus 2019. Athleta: Net Sales were up 35% versus 2019. Comparable sales grew 13% year-over-year and 27% versus 2019.