DoorDash and Staples Partner for On-Demand Delivery

DoorDash and Staples announced a new partnership to give consumers convenient on-demand access to thousands of back-to-school and workplace essential items. Whether it’s for the first year of elementary school or the first year of college, students can now get all the items on their supply list delivered same-day in under an hour, on average, directly to their door.

Nearly 1,000 Staples U.S. locations are now available on the DoorDash marketplace offering consumers easy access to all they need for a successful school year. Staples’ wide selection of pencils, crayons, glue, scissors, binders, lunch boxes, index cards, notebooks, printers, calculators and so much more are now on the DoorDash Marketplace. Parents, teachers and students at every grade can find and order just what they need on-demand, at the tap of a button.

To read the full article, visit the Door Dash Blog.

Amazon’s Stock Surges as Q2 Earnings Show Profit and Sales Jump

Amazon’s sales boomed on strong demand in the second quarter for its wide range of products, from fast delivery for Prime deals to ads, fuelling a massive jump in profit from 2022. Sales grew 11% to $134.4 billion. That’s an increase from $121.2 billion in the second quarter of 2022. The number exceeded analyst predictions of $131.4 billion revenue.

The stock surged nearly 10% in after-hours trading. Amazon’s stock has risen 52% year to date, one of a handful of tech stocks that has helped power the market higher this year.

The company’s profit jumped sharply compared to this quarter in 2022. Its net income was $6.7 billion in the second quarter, compared to a net loss of $2 billion in second quarter of 2022. It soared past Refinitiv analyst predictions of $3.592 billion in earnings. Investors were closely watching customer spending in both the cloud and retail markets.

To read the full story, visit the CNN, MSN, or Amazon websites. 

What’s Working For — And Against — Retailers Heading into the Holidays?

As the summer winds down, retailers are preparing for the all-important back-to-school and holiday shopping seasons. So far in 2023, despite inflation, economic uncertainty and a prioritization of spending on experiences over goods, consumers have come through pretty well for the industry. Yet, even with the first half of the year over, it’s hard to know what’s ahead. That’s in part because recent holidays aren’t providing many clues, according to Meghann Martindale, head of retail research at Madison Marquette.

“Last year, consumers were still kind of in the high of ‘Great, everything’s back to normal. We’re just going to spend like we don’t care,’” she said. “I don’t know that consumers will be as bullish this year.”

As the season approaches, Martindale discusses some of the forces that are working both for and against retailers. 

To read the full results, visit the Retail Dive website.

Cascades Reports Solid Results for the Second Quarter of 2023

Cascades Inc. has reported its unaudited financial results for the three-month period ended June 30, 2023. Here are the Q2 2023 highlights:

  • Sales of $1,168 million (compared with $1,134 million in Q1 2023 and $1,119 million in Q2 2022);
  • Operating income of $64 million (compared with an operating loss of $(80) million in Q1 2023 and operating income of $32 million in Q2 2022);
  • Net earnings per common share of $0.22 (compared with a net loss per common share of ($0.75) in Q1 2023 and net earnings per common share of $0.10 in Q2 2022);
  • Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA (A)1) of $141 million (compared with $134 million in Q1 2023 and $91 million in Q2 2022);
  • Adjusted net earnings per common share1 of $0.27 (compared with adjusted net earnings per common share1 of $0.32 in Q1 2023 and adjusted net earnings per common share1 of $0.10 in Q2 2022);
  • Net debt1 of $2,076 million as of June 30, 2023 (compared with $2,070 million as of March 31, 2023). Net debt to EBITDA (A) ratio1 of 4.1x, down from 4.6x as of March 31, 2023;
  • Total capital expenditures, net of disposals, of $104 million in Q2 2023, compared to $137 million in Q1 2023 and to $116 million in Q2 2022. The Corporation’s 2023 forecasted net capital expenditures of approximately $325 million is unchanged.

To read the full results, visit the Cascades website.