Walmart Releases Q1 and FY24 Earnings

*Operating cash flow increased 16% to $59.3 billion for the trailing twelve months, compared with $51.2 billion for the trailing twelve months ended June 30, 2020. *Free cash flow decreased to $12.1 billion for the trailing twelve months, compared with $31.9 billion for the trailing twelve months ended June 30, 2020. *Net sales increased 27% to $113.1 billion in the second quarter, compared with $88.9 billion in second quarter 2020. Excluding the $2.5 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 24% compared with second quarter 2020. *Operating income increased to $7.7 billion in the second quarter, compared with $5.8 billion in second quarter 2020. *Net income increased to $7.8 billion in the second quarter, or $15.12 per diluted share, compared with $5.2 billion, or $10.30 per diluted share, in second quarter 2020.

Dear Industry Member: Representatives from the Coalition for a 21st Century Postal Service (C-21), including ACMA’s Hamilton Davison, recently hosted staffers from a half dozen Congressional offices. The event was opened by mailing industry proponent Rep. Glenn Grothman (R-WI-6th, pictured at right). In addition to stressing the importance of the Postal Service, the goal was to educate a new crop of Capitol Hill postal staffers from offices that are not as familiar with what keeps the USPS delivering affordably and reliably and the need for legislation now. Representing Marketing Mail interests, Davison emphasized the potentially fatal impact the impending August 30th postage increase will have on catalog and other mailers’ future use of the mail. Other C-21 members discussed similar problems for the other mail classes from the rate hike as well as the USPS’s deliberate slowdown of mail delivery. see more detail at: https://catalogmailers.org/mailing-industry-coalition-briefs-congress-to-spur-action-on-postage-increases/

First Quarter 2022 Financial Highlights: • Total revenues of $748.1 million decreased 3.7% compared to the first quarter of 2021 ◦ Same store revenues(1) decreased 2.5% compared to the first quarter of 2021 • Total digital revenues were $251.1 million or 34% of total revenues, up 9.7% over the same period in the prior year on a same store(1) basis • Net loss attributable to Gannett of $3.0 million and margin loss of 0.4% • Cash provided by operating activities of $32.4 million • Free cash flow(1) of $21.7 million