PromoWire: Spector & Co. Names New VP Of IT
(Editor’s Note: PromoWire by PPAI Media is a running digest of news releases and updates submitted from organizations around the industry. PPAI Media edits these only slightly, including for length, and will consider newsworthy entries from any member organization.)
June 22, 2022
Spector & Co. Welcomes David Jackson As Vice President Of Information Technology
Spector & Co., a leading North American promotional product supplier is excited to announce the appointment of David Jackson as their Vice President of Information Technology.
“David is a great addition to our team, as he brings a deep understanding of information technology and the promotional products industry,” said Robert Spector, CEO. “His knowledge of cutting-edge processes will accelerate our company growth and deliver client success.”
David brings more than twenty-five years of expertise in IT and will serve as a key member of the leadership team, responsible for Spector & Co.’s technology roadmap and infrastructure. He spent the last 7 years with Sweda, a California-based promotional products supplier, where he oversaw and lead all technology operations. He's also currently serving on the PPAI Technology Committee, where he previously was the Committee Chair.
“I’m enthusiastic to join the Spector & Co. family and continue my journey as a technology leader in the promotional products industry. I look forward to driving initiatives that deliver world-class results and exceed customer and business expectations,” said Jackson.
Gemline Adds Artisanal Brands to Its Gourmet Expressions Food Gift Line
Gemline, a leading promotional products supplier, announced today the expansion of their Gourmet Expressions product offering to include new gourmet food gifts featuring two new brand partners: women‐founded brand Milk Bar, which offers a line of sweet and savory treats by award‐winning pastry chef Christina Tosi, and Folly Coffee, makers of small‐batch roasted, award‐winning, single‐origin specialty coffees. These brands join Gemline’s impressive roster of artisanal food‐makers, which now includes 20 brands, eight of which are Women‐Owned Businesses.
Gemline introduced the Gourmet Expressions line in 2018, and has experienced significant growth in its gourmet food gifting business. Click here for more information on Gourmet Expression’s Brand Partners, including those that are women‐owned.
Milk Bar is a sweet shop that’s been turning familiar treats upside down, shaking up the dessert scene since 2008. Bon Appetit magazine called them “One of the most exciting bakeries in the country.” Milk Bar first opened its doors in NYC’s East Village and quickly developed a loyal fan base.
Folly Coffee, which launched in January 2018, was born from a deep passion for high‐end specialty coffees and a lot of hard work. Folly Coffee Roasters is independently owned and operated, roasting all of its small‐batch coffee in St. Louis Park, MN.
“We are thrilled to add new products from Milk Bar and Folly Coffee into our growing Gourmet Expressions business. We look forward to continuing to offer customers unique, branded food gifting experiences that deliver a memorable and lasting impact,” said Frank Carpenito, President of Gemline. “Look out for even more new gourmet food gifts from us just in time for the busy holiday gift‐giving season.”
Ennis, Inc. Reports Results For The Quarter Ended May 31, 2022 And Declares Quarterly Dividend
Ennis, Inc. (the “Company”), (NYSE: EBF), today reported financial results for the first quarter ended May 31, 2022.
The Company’s revenues for the first quarter ended May 31, 2022 were $107.7 million compared to $96.9 million for the same quarter last year, an increase of $10.8 million, or 11.1%. The increase includes revenue contribution of approximately $1.9 million from AmeriPrint, an acquisition completed on May 31, 2021. Gross profit margin was $34.0 million, or 31.6%, as compared to $29.2 million, or 30.1%, for the same quarter last year. Net earnings for the quarter were $11.6 million, or $0.45 per diluted share, as compared to $7.3 million, or $0.28 per diluted share, for the same quarter last year.
Keith Walters, Chairman, Chief Executive Officer and President, commented by stating, "We are pleased with our performance for the first quarter of fiscal year 2023, which began March 1, 2022. Customer demand for our product continues to be strong as seen in recent quarters and our gross profit margin showed a nice improvement of 150 basis points to 31.6% compared to 30.1% in the same prior year quarter and 410 basis points improvement compared to 27.5% the sequential quarter. Our EBITDA increased over the sequential quarter, $15.1 million to $20.5 million, representing 15.5% and 19.1% of sales, respectively. We made pricing adjustments to cover inflationary costs and improved operational efficiencies all of which contributed to the improved margins.
"North American paper markets remain extraordinarily tight, and further substantial price increases will continue to be a very real possibility until demand declines return in enough force and for long enough to rebalance the short-supplied market. While the availability of paper in the North American market is very low, our strong vendor relationship with our paper supplier allows us to meet customer demand for their business product needs. We continue to monitor incoming order volumes as well as rising raw material and other input costs so that we can proactively adjust our pricing and costs accordingly.
"We believe we have one of the strongest balance sheets in the industry, with no debt and significant cash. Our profitability and strong financial condition will allow us to continue operations and fund acquisitions without incurring debt. Given those strengths, we also anticipate timely access to credit should larger acquisition opportunities materialize. We purchased approximately 64,000 shares of our common stock in the first quarter under our stock repurchase program at an average price of $17.46 per share. In accordance with our repurchase program, we will continue to repurchase our shares when we believe the market price is undervalued. We continue to focus on delivering profitability and returns to our shareholders."
June 21, 2022
Koozie Group Announces Giveback Program To Benefit The United Way
Koozie Group announced today a partnership with regional United Way chapters in Florida and Minnesota to donate 5% of sales on its writing instrument orders. This cause marketing effort will start July 1, 2022, and is part of Koozie Group’s Keep It. Give It. initiative aimed at leaving a positive, lasting impact in the communities where it operates.
United Way was a natural choice for this giveback program, according to Trisha Joyce, Employee Experience & Communications Specialist. “We already have a strong connection with our local United Way chapters. Several of our sites have participated in their events, including stuffing back-to-school backpacks. This program is a great extension of the work we are already doing.”
“According to experts, almost 30% of families couldn’t afford school supplies last year(1),” explained Christina Jackson, Sr. Marketing Manager, “and things are sure to be even more challenging this year with growing inflation. Given our partnership with the BIC® brand and our longstanding leadership in promotional writing instruments, donating a portion of our sales from this category to an organization so strongly tied to education was an easy choice.”
United Way fights for the health, education, and financial stability of every person in every community. Funds received from the Koozie Group giveback will benefit not only education efforts but also other United Way initiatives. Sarah Lindner, Community Relations & Philanthropy Director, United Way of Goodhue, Wabasha & Pierce Counties (Minnesota), stated, “We are incredibly grateful for our partnership with Koozie Group. The generous donation from the Write On! campaign will make a lasting impact on the lives of those we serve. Together, we will create communities where all people can thrive regardless of income, race, or place.”
Distributors will need to reference code WIUN2022 when placing their orders. (Offers cannot be combined.) More details can be found here.