USPS Delays Parcel Service Slowdown (multichannelmerchant.com)

Fourth quarter net income decreased 16% to $454 million and diluted earnings per share decreased 15% to $1.88 as the Company took a number of lease impairment and restructuring charges aimed at improving future financial performance. Adjusted net income for the fourth quarter increased 5% to $654 million due to revenue growth, productivity improvements, and a lower effective tax rate partially offset by increased investment spending. Adjusted diluted earnings per share increased 7% to $2.71 benefiting from a 2% decrease in the average diluted shares outstanding. Pre-tax adjustments in the fourth quarter of 2020 totaled $247 million primarily due to office lease and equipment impairments, and restructuring charges all intended to improve future financial performance. Additional pre-tax adjustments included IHS Markit merger costs, deal-related amortization, and Kensho retention-related expenses. For the full year, revenue increased 11% to $7.44 billion. 2020 net income increased 10% to $2.34 billion and diluted earnings per share increased 12% to $9.66. 2020 adjusted net income increased 20% to $2.83 billion and adjusted diluted earnings per share increased 23% to $11.69.

Conde Nast continues its digital pivot with the publishing giant announcing plans to shutter the print edition of its beauty tome Allure, and the December 2022 magazine will be its last. Editor-in-Chief Jessica Cruel broke the news to staffers this week along with the information that employees' roles may change, but no layoffs have been confirmed yet. "Our brand is stronger than ever across social and digital and our success is testament to our collaboration as a team and because we know just how and where our audience is accessing content in today's ever-changing landscape," wrote Cruel. "It's our mission to meet the audience where they are and with this in mind, after our December print issue, we are making Allure an exclusively digital brand."

Walmart Inc. announced that it will conduct a split of its outstanding shares of common stock at a ratio of 3:1. The stock split is part of Walmart’s ongoing review of optimal trading and spread levels and its desire for its associates to feel that purchasing shares is easily within reach. More than 400,000 associates participate in Walmart’s Associate Stock Purchase Plan today, which allows eligible associates to buy stock conveniently through payroll deductions and provides a 15% company match on the first $1,800 each year. “Sam Walton believed it was important to keep our share price in a range where purchasing whole shares, rather than fractions, was accessible to all of our associates,” said Doug McMillon, President and CEO of Walmart. “Given our growth and our plans for the future, we felt it was a good time to split the stock and encourage our associates to participate in the years to come. As Sam said, ‘We’re all in this together. That’s the secret.’”