Latest news with #Peek
Yahoo
7 days ago
- Business
- Yahoo
Coulee Cards to double its deck in Rochester
Jun. 3—ROCHESTER — Coulee Cards and Gaming , a Rochester sports and game cards shop, will soon more than double in size as it expands into the storefront next door. Coulee, which has seven stores in Wisconsin, Minnesota, Iowa and Florida, opened in Rochester in 2022 in the atrium of the Miracle Mile Shopping Center at 162 17th Ave. NW. It is by the entrance to HOM Furniture, Sylvan Learning and Gibbons Optical. The Coulee stores, owned by Kurt Lange, carry sports cards as well as Pokemon, Magic: The Gathering and Yu-Gi-Oh! game cards plus Dungeon & Dragons game materials. After three years, the shop has outgrown the original 1,600-square-foot space, so the plan is to tear out a wall and expand into the empty adjacent 1,566-square-foot spot. That was last occupied by Hangers to Hems, a dry cleaning business. "We're knocking down part of the wall and expanding into that space, so it will be one big store. Basically, we're doubling in size," said Coulee Manager Travis Peek. "The extra space is gonna be really useful for more inventory and then also having more space for players for in-store competitions." Coulee Cards has four on staff in Rochester. Peek said the plan is to add more staff once the expansion is up and running. The demolition and construction work is expected to happen this month without disrupting the store's hours. Peek said the goal is to have the space in use in early July.
The Age
03-06-2025
- Business
- The Age
The iPhone note, Chris Dawson's lawyer brother and a $13m fortune
Was a note on an iPhone a wealthy Sydneysider's last will? A NSW court was asked to decide in a dispute involving a $13 million estate and a raft of potential beneficiaries, including the elder brother of convicted murderer Chris Dawson. Peter Dawson, a Dural lawyer, stood to receive more than $300,000 from the estate of his long-time client, the late property developer Colin Peek, if the note was a will. Peek's close friend Brad Wheatley, a real estate agent, would have received about $10 million. The note, headed 'Last Will of Colin L Peek', was discovered on Peek's iPhone three days after his death. Wheatley and Dawson found it at his home in Bella Vista Waters in Sydney's Hills District. But Peek's brother Ronald, his only sibling, filed Supreme Court proceedings in a bid to claim the entire estate. He argued his brother did not intend the iPhone note to operate as his will, and that Colin had died without a will on August 16, 2022, aged 79. On that basis, Ronald said he was entitled to the whole estate under NSW succession laws because his brother was not survived by his wife, son or parents. Wheatley, who was referred to in the iPhone note as Colin's executor, filed a cross-claim, seeking a declaration that 'the informal will was valid and forms the will of the deceased', Justice Mark Richmond said. In his decision on Friday, Richmond found in favour of Colin's brother. The judge said he was 'not satisfied that Colin intended that the note, without more on his part, to have present operation as his will'. 'Under the terms of the note, the bulk of the deceased's estate (approximately $10.3 million) will pass to Mr Wheatley, with a smaller gift (approximately $990,000) to the deceased's brother.'
Sydney Morning Herald
03-06-2025
- Business
- Sydney Morning Herald
The iPhone note, Chris Dawson's lawyer brother and a $13m fortune
Was a note on an iPhone a wealthy Sydneysider's last will? A NSW court was asked to decide in a dispute involving a $13 million estate and a raft of potential beneficiaries, including the elder brother of convicted murderer Chris Dawson. Peter Dawson, a Dural lawyer, stood to receive more than $300,000 from the estate of his long-time client, the late property developer Colin Peek, if the note was a will. Peek's close friend Brad Wheatley, a real estate agent, would have received about $10 million. The note, headed 'Last Will of Colin L Peek', was discovered on Peek's iPhone three days after his death. Wheatley and Dawson found it at his home in Bella Vista Waters in Sydney's Hills District. But Peek's brother Ronald, his only sibling, filed Supreme Court proceedings in a bid to claim the entire estate. He argued his brother did not intend the iPhone note to operate as his will, and that Colin had died without a will on August 16, 2022, aged 79. On that basis, Ronald said he was entitled to the whole estate under NSW succession laws because his brother was not survived by his wife, son or parents. Wheatley, who was referred to in the iPhone note as Colin's executor, filed a cross-claim, seeking a declaration that 'the informal will was valid and forms the will of the deceased', Justice Mark Richmond said. In his decision on Friday, Richmond found in favour of Colin's brother. The judge said he was 'not satisfied that Colin intended that the note, without more on his part, to have present operation as his will'. 'Under the terms of the note, the bulk of the deceased's estate (approximately $10.3 million) will pass to Mr Wheatley, with a smaller gift (approximately $990,000) to the deceased's brother.'
Yahoo
29-05-2025
- Business
- Yahoo
5 questions about tariff impacts on the packaging industry
This story was originally published on Packaging Dive. To receive daily news and insights, subscribe to our free daily Packaging Dive newsletter. Hammont Premier Packaging didn't wait until the Trump administration's tariff announcements this year to rethink its supply chain. The small New Jersey-based company, which sells clear boxes, bags and more, started diversifying sourcing and onboarding additional suppliers in North America and Europe more than 18 months ago. Hammont realized that 'substrates imported from Asia, especially China, tend to be more susceptible to tariffs and logistical slowdowns,' CEO Isaac Link explained. In some instances, the company invested in local suppliers or redesigned products to reduce reliance on materials made only in China. 'The current climate demands flexibility,' Link said. Shifting trade policy, frequent changes to tariffs and evolving legal challenges have created uncertainty for packaging companies, along with their customers and suppliers. Earlier this month, the U.S. and China agreed to a 90-day pause on higher tariffs, but relations remain uncertain. Meanwhile, tariffs on key trading partners such as Canada and Mexico have shaken supply chains, especially for businesses that started to diversify away from Asia to North America during the pandemic. Although certain increased tariffs have only been in place a few months, 'the impact is already showing up in subtle but serious ways,' said Jennifer Dochstader, co-founder of LPC Inc., a marketing and research consultancy specializing in the global printing and packaging industry. One example would be a brand that delays its product launch or rebrand because of tariff-related price hikes, she said. 'The ripple effect hits the flexible packaging printer, the label printer, the folding carton producer, the co-packer,' Dochstader said. Tariffs and their effects on packaging supply chains have caused widespread uncertainty. Here are five questions packaging businesses face while navigating next steps. The most immediate impact is cost. Adam Peek, founder of Golden Rule Consulting and the People of Packaging Podcast, said a commercial printer that buys paper from Canada suddenly experienced skyrocketing costs for the largest item it sources. But the tariffs could be rolled back as quickly as they were enacted, Peek said, making it challenging for the packaging company to decide how to mitigate cost increases. 'The uncertainty in tariffs is creating a lot of stress and tension in the supply chain,' Peek said. During spring earnings calls, Smurfit Westrock noted shifting some production among sites in Canada and the U.S., and Packaging Corporation of America noted that trade uncertainty led it to adjust some exports. But many large packaging companies reported minimal anticipated effect from tariffs due to low exposure and domestic supply chains. In early May, Sealed Air noted most of its products aren't affected by tariffs because of an exemption for goods covered by the U.S.-Mexico-Canada Agreement. And O-I Glass said just 4.5% of its global sales volume is exposed to new tariffs, mostly related to imports of filled containers from Europe. Ardagh Metal Packaging's North America can-making operations are all in the U.S., and its 'suppliers, customers and end consumers are all mostly local to the region,' CEO Oliver Graham said. Even in domestic packaging supply chains, knock-on effects of tariffs are still a possibility, said Anish Thanatil, North America lead for Boston Consulting Group's forestry, pulp, paper and packaging work. If consumer demand shrinks due to higher prices, packaging producers will feel the ripple effects up the supply chain. Or if companies need to purchase equipment to add more paper manufacturing capacity, machinery and parts may be subject to tariffs. 'Everything that's made in the U.S., in some way, is going to be impacted by tariffs,' Peek said. 'We've built a global economy.' Packaging leaders have managed their supply chains through disruptive times over the last decade. Tariffs enacted during the first Trump administration pushed many businesses across industries to diversify their sources of supply. Then, the COVID-19 pandemic imparted similar lessons about diversification and holding buffer inventory. 'We learned a lot during the COVID pandemic on how to navigate through the unknown and the chaos,' Peek said. 'Being single-sourced as a company for critical packaging components is maybe not the best idea.' Many companies started to more actively understand the risks in their supply chain during that time, according to Thanatil. He added that many firms have a playbook so they can refer back to how they managed supply chains during COVID and use those same strategies today. But the current tariff situation bears some key differences. 'In COVID, you knew that you had to plan for at least a year or two. Here, we don't know the timeline,' Thanatil said. 'People are more prepared than they were during the pandemic, but there's also more uncertainty.' Multiple companies have discussed the potential to alter packaging substrates or formats in light of tariff-driven supply chain changes. P&G plans to look 'for every opportunity to mitigate the impact, including sourcing flexibility and productivity improvements,' along with price hikes for consumers, CFO Andre Schulten said on an April earnings call, before the 90-day tariff pause with China began. Schulten said P&G's largest tariff impacts come from raw materials, as well as packaging materials and finished products sourced from China. Last month, Hammont switched the color of one of its paper bags from a medium brown shade made in China to a darker shade available in India, Link said. But for the most part, packaging manufacturers are holding off on major changes to materials and formats until they have a better sense of the longevity of the tariff situation. 'There's a lot of wait-and-see energy right now,' Dochstader said. Transitioning substrates is not a quick and easy choice for packaging firms nor their customers, Thanatil said. He gave the example of a company that's considering switching from a tin can to paper, because most tinplate is sourced globally while paper for food cans is produced domestically. A CPG would need to test the material and possibly install new manufacturing lines to fill the new can type – none of which can happen in the short time frame in which the U.S. is imposing tariffs. For that reason, Thanatil projects that major shifts in substrates or formats are 'on a back burner' for two to three months as businesses await the possibility of greater clarity. Metal is among the packaging materials most vulnerable to geopolitical shifts. Two-thirds of metal for food packaging in the U.S. is imported, and most tinplate capacity has been shut down in the U.S., Thanatil said. Conversely, flexible and rigid plastics, along with paper, are at an advantage because of their domestic supply chains, Thanatil said. In many cases, products are manufactured in one place but packaged in another, exposing the goods to tariffs. Many CPGs import raw materials and then manufacture or package domestically, Dochstader said. In the case of electronics, products are manufactured overseas, so the packaging is produced in the same region. 'We're not going to make packaging here for iPhones and then ship it to China. That would be ridiculous,' Peek said. Clorox noted its tariff exposure is 'relatively limited' because 'we tend to manufacture closely to where we sell our products,' CFO Luc Bellet said on a May earnings call. But he added that most of the tariff impact is on packaging and raw supplies. Because the tariff situation remains fluid, experts advised working to make supply chains more resilient, while focusing on long-term packaging trends. For example, younger generations show preferences toward sustainable packaging and healthier eating, Thanatil said. Making a packaging change that results in lower exposure to tariffs but doesn't align with sustainability goals may not be a worthwhile tradeoff. Diversifying suppliers, reshoring production and reengineering designs are all possibilities to make the supply chain better able to absorb shocks. 'If you're a procurement person, you have to be willing to entertain new potential opportunities,' Peek said. He emphasized that doesn't mean moving all orders over to the vendor with the least tariff exposure. In fact, now is the time to strengthen long-term vendor relationships, not abandon suppliers if they raise prices, sources said. 'They're reacting to cost pressures of their own,' Dochstader said. She advised that companies ask their vendors questions to clarify what's driving pricing and to consider design tweaks or lower minimum order quantities. Link said that when Hammont rolls out 'unavoidable price hikes,' it does so with advanced warning. And it will honor old pricing until the company and its customer agree on a date for the new pricing, even if it comes at a cost to Hammont. 'Everyone is in the same boat here just waiting for this to pass,' Link said. Open communication is important on the customer side, too. Packaging companies sometimes keep supplier information close to the vest with vague specifications so customers can't seek alternative quotes. 'That veil has to be ripped to just create ultimate transparency and communication with your customers,' Peek said. 'That's how you'll navigate through everything in a world that's hard to navigate right now.' Peek advised packaging executives to stay informed on changing trade policies, but cut through the noise by focusing on what they know is true — and use that to guide decision-making. 'You're not going to disrupt your entire supply chain just because there's a tariff policy in place this week that could change next week,' Peek said. Recommended Reading Are tariff-era changes to fiber supply chains here to stay?
Miami Herald
12-05-2025
- Business
- Miami Herald
Wellgistics Health Reports 36% Revenue Growth in Q1 2025 as Manufacturer Access and Pharmacy Onboarding Accelerate
TAMPA, FL / ACCESS Newswire / May 12, 2025 / Wellgistics Health, Inc. (NASDAQ:WGRX, "Wellgistics Health"), a healthcare infrastructure and pharmaceutical distribution company leveraging proprietary technology, today announced financial results for its first fiscal quarter ended March 31, 2025. Revenue for the Q1 2025 quarter increased to $10.86 million from zero during the comparable period last year on a GAAP basis. Had the Company acquired Wood Sage and Wellgistics LLC as of January 1, 2024, the $10.86 revenue figure of Q1 2025 would be compared to $7.97 million on a pro forma basis for the same period in 2024, representing approximately a 36% year-over-year increase on a non-GAAP basis. "Our Q1 growth reflects the momentum we are building across every part of the business," said Brian Norton, CEO of Wellgistics Health. "We're expanding our manufacturer relationships, broadening our product portfolio, and registered 354 new pharmacies this quarter-nearly two-thirds of which have already placed at least one order. We're also laying the groundwork for the next phase of scale with new hub service capabilities and technology infrastructure, including the upcoming expansion of our Peek platform." "Since the IPO in March, Brian has moved with speed and precision to reshape Wellgistics Health into a modern, execution-driven healthcare platform," said Suren Ajjarapu, Chairman of the Board. "He has rebuilt the executive team into one of the most capable leadership groups in the industry and supercharged every aspect of the business-from commercial operations to pharmacy expansion to manufacturer access. This quarter's results are an early indication of what's possible. While we have structured financial tools like the ELOC to support strategic acceleration, we are committed to deploying capital only when it directly fuels outsized growth and market share expansion." Wellgistics Health expects continued momentum in Q2, supported by expanded clinical fulfillment capacity, new manufacturer integrations, and scaled deployment of its pharmacy hub platform. About Wellgistics Health Wellgistics Health, Inc. is a publicly traded healthcare infrastructure company redefining how medications move, are priced, and reach patients. The company operates across pharmaceutical distribution, prescription technology, and clinical fulfillment-connecting over 150 direct manufacturer contracts to a nationwide network of over 6,000 independent pharmacies. Wellgistics Health provides real-time prescription hub services, compliance-driven logistics, and patient-first fulfillment solutions, while equipping pharmacies with integrated financial, clinical, and digital tools. Its end-to-end platform supports a broad range of therapeutic areas from specialty-lite to chronic maintenance medications by eliminating friction, accelerating reimbursements, and enabling direct, transparent connections between manufacturers, providers, pharmacies, and patients. For more information, visit Forward-Looking Statements This press release may contain forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When Wellgistics Health uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. These forward-looking statements include, without limitation, Wellgistics Health's statements regarding Wellgistics Health's strategy and descriptions of its future operations, prospects, and plans, including without limitation its plan in connection with certain financings and cryptocurrencies and outlook and actions with respect to incurring future expenses. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from Wellgistics Health's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other risks detailed in our reports and statements filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in Wellgistics Health's filings with the SEC, which are available for review at Note on Non-GAAP Financial Measures Certain of the information set forth herein, including revenue on a pro forma basis, may be considered financial measures that are not recognized under United States generally accepted accounting principles, or non-GAAP financial measures. These measures may not be comparable to similar measures presented by other companies. Wellgistics Health defines revenue on a pro forma basis to include revenues as adjusted based on the assumption that Wellgistics Health acquired its two direct subsidiaries, Wood Sage, LLC and Wellgistics, LLC, on January 1, 2024. Wellgistics Health believes this financial information is useful to investors as a measure of profitability, because it helps us compare our performance on a consistent basis by removing from our operating results the impact of our capital structure, the effect of operating in different tax jurisdictions, the impact of our asset base, which can differ depending on the book value of assets and the accounting methods used to compute depreciation and amortization, and the cost of acquiring businesses and restructuring our operations. In addition, the company's management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measures in evaluating the company's operating performance and cash flow. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and non-GAAP financial measures as reported by the company may not be comparable to similarly titled amounts reported by other companies. For more information, please contact: Media Contact: media@ Relations: investors@ SOURCE: Wellgistics Health, Inc.
