US ecommerce grows 10.8% in Q3 2022 (digitalcommerce360.com)

REI Co-op released its 2020 financials and annual impact report, highlighting strong financial performance and its values-based approach to leading through a global crisis—and beyond. Despite unforeseen challenges in 2020, the co-op made bold investments in the future of its business: selling its headquarters buildings to imagine an entirely new future of office work, taking the co-op carbon neutral, investing in retail pay, making a commitment to racial equity that will impact every area of the company, and rolling out innovative new offerings like virtual outfitting and Curbside Pickup within a matter of weeks. “We entered 2020 with incredible momentum, after more than a decade of record growth. Then, the entire world came to a halt. We regrounded ourselves in our values, making choices that at times came at great cost to our business. But we took the long view and continued to put our people first, quickly pivoting to find new ways of serving our customers and community,” said REI President and CEO Eric Artz. “That approach turned out to be the right thing for our people and for our business, and allowed us to enter 2021 not just in a position of financial strength, but proud of who we were when the times were least certain.” The co-op reported no profits in 2020 but ended the year in a strong cash position and debt-free, after investing millions in its impact work: combatting the climate crisis, fighting for racial equity and supporting its network of nonprofit partners. Now REI is launching the next chapter of that work, inviting its broader co-op community to take action.

Albertsons Companies, one of the nation's largest grocery retailers, and Rite Aid Corporation, one of the nation's leading drugstore chains, announced a definitive merger agreement under which privately held Albertsons Companies will merge with publicly traded Rite Aid. Under the terms of the agreement, in exchange for every 10 shares of Rite Aid common stock, Rite Aid shareholders will have the right to elect to receive either (i) one share of Albertsons Companies common stock plus approximately $1.83 in cash or (ii) 1.079 shares of Albertsons Companies stock. Depending upon the results of cash elections, upon closing of the merger, shareholders of Rite Aid will own a 28.0 percent to 29.6 percent stake in the combined company, and current Albertsons Companies shareholders will own a 70.4 percent to 72.0 percent stake in the combined company on a fully diluted basis. Immediately following completion of the merger and assuming that all Rite Aid shareholders elect to receive shares plus cash, Albertsons Companies will have approximately 392.9 million shares outstanding on a pro forma and fully diluted basis. Following the close of the transaction and the share exchange, Albertsons Companies' shares are expected to trade on the New York Stock Exchange. Click Read More below for additional information

*Research Publishing & Platforms rose 9% as reported and at constant currency and 4% excluding acquisitions, driven by strong growth in open access, corporate solutions, and research platforms. *Academic & Professional Learning grew 4% as reported and 3% at constant currency, driven by strong recovery in Professional Learning from prior-year COVID lockdown impacts. This more than offset a decline in Education Publishing due to softer US enrollment and some easing of prior-year COVID-related tailwinds in content and courseware. *Education Services increased 17% as reported and 15% at constant currency, driven by 3% growth in University Services (formerly OPM) and strong double-digit growth in Talent Development (formerly mthree). *GAAP EPS was $0.99 as compared to $1.22 in the prior year period, which included a $0.25 discrete tax benefit related to the Coronavirus Aid, Relief, and Economic Security Act (CARES ACT).