TC Media Acquires ERPI (Éditions du renouveau pédagogique inc.) from Pearson

Welcome to 2022, when even our work computers tell us we’re getting too much screen time. And while it can be harder to cut back on medium screen, people seem to be more mindful about their small-screen time—some are even using flip phones. As concern mounts over our collective tech habits and the potential damage of absorbing too much bad news—aka doomscrolling—publisher Penguin Random House saw an opportunity to get people reading with its new campaign, “Slow Down, Read a Book.” “I think reading is positioned to help people escape and help people think more deeply, and help people relax. And it’s almost a foil to social media in that way,” Carly Gorga, director of creative strategy, brand marketing at Penguin Random House, told us.

For the Second Quarter of Fiscal 2022 *Net sales increased 16.8% to $2.3 billion compared to $2.0 billion in the second quarter of fiscal 2021 due to the favorable impact from the continued resilience of the beauty category, the impact of new brands and product innovation, and the easing of COVID-19 restrictions compared to the second quarter of fiscal 2021. *Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 14.4% compared to an increase of 56.3% in the second quarter of fiscal 2021, driven by an 8.3% increase in transactions and a 5.6% increase in average ticket. *Gross profit increased 16.3% to $928.2 million compared to $798.0 million in the second quarter of fiscal 2021. As a percentage of net sales, gross profit decreased to 40.4% compared to 40.6% in the second quarter of fiscal 2021, primarily due to lower merchandise margin and higher inventory shrink, partially offset by leverage of fixed costs and strong growth in other revenue. *Operating income increased 17.8% to $391.4 million, or 17.0% of net sales, compared to $332.3 million, or 16.9% of net sales, in the second quarter of fiscal 2021. *Net income increased 17.8% to $295.7 million compared to $250.9 million in the second quarter of fiscal 2021.

Keep US Posted — a nonprofit advocacy group of consumers, nonprofits, newspapers, greeting card publishers, magazines, catalogs and small businesses — is calling attention to new analysis, which shows that U.S. Postal Service’s practice of raising mailing rates every six months is based on flawed economic forecasting that greatly underestimates the rate hikes’ impact on lost mail volume. The report, which was commissioned by the Greeting Card Association and the Association for Postal Commerce (PostCom), has been published just weeks before USPS is expected to ask the Postal Regulatory Commission to approve the sixth stamp hike in just two years, likely occurring in July. According to the report, USPS is basing stamp hikes on a demand model which underestimates the elasticities (or price sensitivity) of its consumers —relying too heavily on historical data, among other issues.