Walmart Outlines Growth Strategy

Following news last month that O, The Oprah Magazine would cease regular print publication, Oprah herself has addressed the brand’s future in a video published on its website. In a video posted on O, the media mogul hinted at big things for the brand, while announcing the print magazine will scale back to at least four special print issues a year. “There’s been a lot of chatter and a lot of speculation about O, The Magazine ending,” Oprah said from her home. “I want you to know, it’s not ending, it’s evolving. Because after 20 years of covers, I think it’s time, and I also think it’s a good thing. None of us were meant to stay the same. We evolve.”

Net sales were $730.9 million, up 11% from last year, with comparable sales up 5%. Changes in foreign currency exchange rates and the calendar shift resulting from the 53rd week in fiscal 2017 benefited first quarter net sales by approximately 4% and 1%, respectively, which do not impact comparable sales. By brand, net sales increased 13% to $423.6 million for Hollister and increased 7% to $307.3 million for Abercrombie from last year. By geography, net sales increased 10% to $449.1 million in the U.S. and increased 12% to $281.8 million in international markets from last year. Net other operating income was $2.6 million, compared to $1.7 million last year, primarily related to foreign currency gains. Click Read More below for additional information.

Research from Student Monitor® and the National Association of College Stores (NACS) found that student spending on textbooks and course materials declined for the second year in a row. The Student Watch survey from NACS reported a $23 decline in spending from $602 in in the 2015-2016 academic year to $579 in 2016-2017. Student Monitor reported a $64 decline from $607 in 2015-2016 academic year to $543 in 2016-2017. Spending on course materials has declined by around $100 over the past ten years, aroundt 15%, when the average spend was between $672 and $701. The transition to less expensive digital materials, increasing use of rental options for both print and digital materials, and a competitive retail market are among the factors that have led to the spending decline.Both studies found the average price per unit (new, used, print, digital, or rented) was $66 during the 2016 – 2017 academic year. The cost of new print textbooks declined by around 13% from $91 in the 2015 – 2016 academic year to $80 in the 2016-2017 academic year, according to Student Monitor. Click Read More below for additional detail.