Gap Inc intends to increase the company’s annual dividend to $0.88 in fiscal year 2014

SAN FRANCISCO, 2014-2-28 — /EPR Retail News/ — Gap Inc. (NYSE: GPS) today announced that its Board of Directors intends to increase the company’s annual dividend to $0.88 in fiscal year 2014, a 10 percent increase from the company’s current annualized rate of $0.80. This represents more than a 75 percent increase in the company’s annual dividend per share in the last two years.

This is the fifth consecutive year Gap Inc. has increased its annual dividend, demonstrating the company’s continued commitment to distributing excess cash to shareholders.

The company also announced that its Board of Directors has authorized the first quarter fiscal year 2014 dividend of $0.22 per share, payable on or after April 30, 2014 to shareholders of record at the close of business on April 9, 2014.

Forward Looking Statements

This press release contains forward-looking statements within the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Words such as “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “project,” and similar expressions also identify forward-looking statements. Forward-looking statements include statements regarding:

  • Future dividends;
  • Commitment to distributing excess cash to shareholders.

Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause the company’s actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, the following:

  • the risk that changes in general economic conditions or consumer spending patterns could adversely impact the company’s results of operations;
  • the highly competitive nature of the company’s business in the United States and internationally;
  • the risk that the company or its franchisees will be unsuccessful in gauging apparel trends and changing consumer preferences;
  • the risk to the company’s business associated with global sourcing and manufacturing, including sourcing costs, events causing disruptions in product shipment, or an inability to secure sufficient manufacturing capacity;
  • the risk that actual or anticipated cyber attacks, and other cybersecurity risks, may cause the company to incur increasing costs;
  • the risk that natural disasters, public health crises, political crises, or other catastrophic events could adversely affect the company’s operations and financial results;
  • the risk that acts or omissions by the company’s third-party vendors, including a failure to comply with the company’s code of vendor conduct, could have a negative impact on its reputation or operations;
  • the risk that the company does not repurchase some or all of the shares it anticipates purchasing pursuant to its repurchase program;
  • the risk that the company will not be successful in defending various proceedings, lawsuits, disputes, claims, and audits; and
  • the risk that changes in the regulatory or administrative landscape could adversely affect the company’s financial condition, strategies, and results of operations.

Additional information regarding factors that could cause results to differ can be found in the company’s Annual Report on Form 10-K for the fiscal year ended February 2, 2013, as well as the company’s subsequent filings with the U.S. Securities and Exchange Commission.

These forward-looking statements are based on information as of February 27, 2014. The company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.

About Gap Inc.

Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix brands. Fiscal year 2013 net sales were $16.1 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,100 company-operated stores, over 350 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.

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Gap Inc announced Old Navy opens its first store in China

Building on success of Gap brand, Old Navy opens in Shanghai, continues growth in Japan

SAN FRANCISCO, 2014-2-28 — /EPR Retail News/ — Gap Inc. (NYSE: GPS) today announced Old Navy’s opening of the brand’s first store in China, continuing its expansion outside the U.S.

With the debut of Old Navy’s first company-operated store, opening March 1 on Shanghai’s famous Nanjing West Road, the company plans to build on Gap brand’s three-year run of successful growth in the world’s second largest apparel market. A dedicated Old Navy e-commerce site will also be available simultaneous to the store opening, allowing customers across mainland China to shop the brand’s offerings for the entire family.

“At Old Navy, we’re about making current American fashion essentials accessible for every family,” said Stefan Larsson, global brand president, Old Navy. “As we enter our 20th year, we’re excited to introduce our brand to more customers around the world and share our fun, energizing and unique shopping environment.”

The 22,000 square foot (2,000 square meters), three-level Shanghai store is located in the Jing’an District, a major commercial area known for shopping, sightseeing, hotels and office buildings that draws thousands of locals and overseas visitors. The store features iconic elements from Old Navy’s U.S. flagship stores such as the famous “Super Modelquins” and Magic the Dog, as well as interactive features that will make shopping fun for the entire family, such as touchscreen video games and game tables.

“We plan to open a total of five stores in China in fiscal 2014, starting with the Shanghai store,” said Robert Frank, Old Navy’s executive vice president of international. “With our China entry, continued growth in Canada and Japan and the launch of our franchise business in the Philippines next month, we are well positioned to grow our share of the global retail apparel market.”

The entry into the Chinese market follows Old Navy’s successful launch in Japan in 2012. Old Navy plans to open about 25 additional stores this year in Japan, bringing the total number of stores in the country to approximately 43 by the end of 2014.

Launched in 1994, Old Navy brings fun, fashion and value to the whole family. Customers quickly connected with the brand, as Old Navy became the first retailer to reach $1 billion in annual sales in less than four years of operation. Old Navy operates more than 1,000 stores in the U.S., Canada and Japan and has an ecommerce presence that serves customers in nearly 80 countries around the world.

About Gap Inc.
Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix brands. Fiscal year 2013 net sales were $16.1 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,100 company-operated stores, over 350 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.

Forward Looking Statements
This press release contains forward-looking statements within the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Words such as “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “project,” and similar expressions also identify forward-looking statements. Forward-looking statements include statements regarding the following:

  • Old Navy store openings in China in fiscal 2014;
  • Launch of the Old Navy franchise business in the Philippines;
  • Old Navy store openings in Japan in fiscal 2014; and
  • Total number of Old Navy stores in Japan at the end of fiscal 2014.

Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause the company’s actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, the following:

  • the risk that changes in general economic conditions or consumer spending patterns could adversely impact the company’s results of operations;
  • the highly competitive nature of the company’s business internationally;
  • the risk that the company will be unsuccessful in gauging apparel trends and changing consumer preferences;
  • the risk that the company will be unsuccessful in identifying, negotiating, and securing new store locations and renewing, modifying or terminating leases for existing store locations effectively;
  • the risk that natural disasters, public health crises, political crises, or other catastrophic events could adversely affect the company’s operations and financial results;
  • the risk that acts or omissions by the company’s third-party vendors, including a failure to comply with the company’s code of vendor conduct, could have a negative impact on its reputation or operations;
  • the risk that the company will not be successful in defending various proceedings, lawsuits, disputes, claims, and audits; and
  • the risk that changes in the regulatory or administrative landscape could adversely affect the company’s financial condition, strategies, and results of operations.

Additional information regarding factors that could cause results to differ can be found in the company’s Annual Report on Form 10-K for the fiscal year ended February 2, 2013, as well as the company’s subsequent filings with the Securities and Exchange Commission.

These forward-looking statements are based on information as of February 27, 2014. The company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.

SM Retail Inc. expanded into Southern Philippines with the opening of Savemore Market General Santos

Pasay City, Philippines, 2014-2-28 — /EPR Retail News/ — SM Retail Inc., the department and food stores operator of SM Investments Corporation, has further expanded into Southern Philippines with the opening of Savemore Market General Santos. Aside from Savemore, SM is present in the city through its mall, SM City General Santos which opened in 2012.

The new Savemore Market is the 94th store in the country. The new Savemore Market Gensan is located along Nunez st., Purok Malakas, Barangay San Isidro. In Southern Philippines, SM operates 39 Hypermarkets, 94 Savemore stores and 39 SM Supermarkets.

“We continue to expand aggressively in key areas of the country, taking into consideration the steady population growth and shifting preferences of the market,” Savemore Market President Jojo Tagbo said.

SM Food Retail has three store formats, SM Supermarket, SM Hypermarket and Savemore that offer products and services which focus on quality, affordability and convenience. Savemore is SM’s fast expanding vehicle for introducing organized retail in areas where there is either a limited offer of products or none at all. It offers quick and convenient shopping, complete basic merchandise, and a wide array of services. Savemore also offers SM Bonus items which give great value as well as various promos and discounts like Buy One Get One, SWIPE, Valuepack, and Yellow Tag.

The friendly staff and crew practice food safety and are equipped with hygienic gear as they carry out free services like coconut grating, seafood cleaning, meat and poultry deboning, and fruit carving.

Services like bills payment, Western Union money transfer, and a Watsons pharmacy also emphasize Savemore as a one-stop-shop destination. Quick bites are also available from Savemore’s tenants such as Master Siomai, Takuyaki, Waffle Time, Buko Juan, and Porky Best. Soon to open are Memo Express, and Mary Pauline Salon.

For more information, please contact:
SM Food Retail Marketing Communications:
Frances Crisol – fbc@smhypermarket.com; 0917-5305636
Olivier Guevara – olivier_a_guevara@yahoo.com; 0915-3235525

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Exclusive perks and privileges await SM Advantage, BDO Rewards, and Prestige card holders.

Exclusive perks and privileges await SM Advantage, BDO Rewards, and Prestige card holders.

A.S. Watson Group (ASW) recognised by the Hong Kong Council of Social Service with CSR Awards

Hong Kong, 2014-2-28 — /EPR Retail News/ — A.S. Watson Group (ASW) has always been demonstrating good corporate social responsibility and caring spirit to the community. This year, ASW is once again recognised by the Hong Kong Council of Social Service for our passion and commitment in exemplary corporate citizenship, with the newly established “10 Year Plus Caring Company” logo. With the proactive support in creating a barrier-free environment and culture, ASW is also proudly awarded the first-ever “List of Barrier-free Companies” under Caring Company scheme, which is the only Health & Beauty retailer to achieve this accolade amongst a total of 40 awardees.

On 28 February, ASW and its 11 retail and manufacturing brands were recognised in the Caring Company scheme, of which Watsons Hong Kong, PARKnSHOP, GREAT, Watson’s Wine, FORTRESS and Watsons Water were awarded the “10 Years Plus Caring Company Logo”, while GOURMET, TASTE, A.S. Watson Industries, Citrus Growers International and Nuance-Watson (HK) Limited has achieved the “5 Years Plus Caring Company Logo”.

Argos, Homebase, M&S and Lloyds Banking Group to become more dementia friendly

Milton Keynes, UK, 2014-2-28 — /EPR Retail News/ — Our high streets are set to become more dementia friendly following a commitment from major British businesses today (Friday 28 February). Argos, Homebase, Marks and Spencer and Lloyds Banking Group, backed by Health Secretary Jeremy Hunt, have committed to create over 121,500 Dementia Friends in shops and banks across the UK.

A recent study by Alzheimer’s Society found that one in four people with dementia have given up shopping since being diagnosed, even though the majority feel this is the most common activity that enables them to feel part of their community.

Dementia Friends, is an Alzheimer’s Society initiative that will help staff learn about dementia and the steps they can take to make a difference to the lives of people with the condition.

From being more patient with a customer paying at a till point to communicating more clearly over the telephone – there are many ways in which becoming a dementia friend will help staff interact with people with dementia.

Alzheimer’s Society is now calling on other businesses to work to become more dementia friendly by offering sessions to their staff.

Jeremy Hughes, Chief Executive at Alzheimer’s Society said: “Many people with dementia tell us that shopping and visiting their local high street can be very stressful but today’s announcement brings us a step closer to becoming a dementia friendly society. We applaud Argos, Homebase, Marks and Spencer and Lloyds Banking Group on their commitment to help their staff understand more about dementia.

Dementia Friends will enable people with dementia to feel more independent when they go out. Sometimes this can mean the difference between staying in the community or being forced to move to a care home prematurely. We are now calling on other businesses to follow the lead of Homebase, Argos, Marks and Spencer, and Lloyds Banking Group.”

Terry Duddy, CEO of Home Retail Group which owns Argos and Homebase says: “Argos and Homebase have shown real passion in driving forward change for people with dementia. We are offering all of our 50,000 colleagues the opportunity to become Dementia Friends. Already over 250 colleagues have taken part in the programme. Colleagues say this has made a real difference to them personally and that they will be in a better position to understand customers and their carers who have been affected by dementia.”

We want to help people living with dementia stay in their own homes and be part of their local community for longer. We hope that by offering Dementia Friends on hand to help with shopping in our stores, they will be able to do just that”

Sacha Berendji, Marks & Spencer Retail Director said: “When we heard that a quarter of all people with dementia feel that they can no longer go shopping, despite it being the local activity that they enjoy most, we knew that M&S had to play a part in changing this for the better. We want our stores to be friendly, safe environments for customers with dementia. That’s why we will be empowering all 60,000 of our store colleagues to become Dementia Friends over the course of the year.”

Graham Lindsay, Director, Responsible Business at Lloyds Banking Group said: “As part of our ambition to help Britain prosper, we are committed to helping people affected by dementia to live well with the condition. Alongside Alzheimer’s Society, we’ve led the development of a charter to help the financial services industry become more dementia-friendly. Our charity of the year partnership has captured the hearts and minds of our colleagues, who have raised over £2.5million in just over a year. To continue our work in the fight against dementia, our goal is to sign up at least 11,500  Dementia Friends across our business.”

Employers interested in offering Dementia Friends sessions to their staff should visit www.dementiafriends.org.uk

-Ends-

Notes to editors:
One in three people over 65 will develop dementia

Alzheimer’s Society research shows that 800,000 people in the UK have a form of dementia, more than half have Alzheimer’s disease. In less than ten years a million people will be living with dementia. This will soar to 1.7 million people by 2051

Alzheimer’s Society champions the rights of people living with dementia and the millions of people who care for them

Alzheimer’s Society works in England, Wales and Northern Ireland

Alzheimer’s Society has a plan to deal with dementia. Help us support people to live well today and fight for a world without dementia tomorrow. We rely on voluntary donations to continue our vital work. You can donate now by calling 0845 306 0898 or visiting alzheimers.org.uk

Alzheimer’s Society provides a National Dementia Helpline, the number is 0300 222 11 22 or visit alzheimers.org.uk

Press Office 08450 744 395 Email: press@alzheimers.org.uk

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Argos, Homebase, M&S and Lloyds Banking Group to become more dementia friendly

Argos, Homebase, M&S and Lloyds Banking Group to become more dementia friendly

 

Waitrose announced its first export deal in South Africa

Bracknell, UK, 2014-2-28 — /EPR Retail News/ — Waitrose has today announced its first export deal in South Africa. The deal means that the supermarket will be selling its products in every continent, with the exception of Antarctica, and exports to 50 countries across the globe.

In one of its biggest deals to date, more than 250 of the supermarket’s own-brand groceries – from essential Waitrose to Duchy Originals From Waitrose – are now available in Food Lover’s Market stores in South Africa. Food Lover’s Market’s 120 stores, owned by Fruit & Veg City, draw on inspiration from across the world to create stylish and modern food emporiums for customers looking for exception quality and variety.

It will also be available in selected Fruit & Veg City’s Freshstop at Caltex service station shops.

Waitrose has, for many years, sourced fruit and wine from South Africa, supplied by Waitrose Foundation farms, which return a percentage of profits to its farm workers. This new agreement marks another first as Waitrose products are exported to the country.

Among the items being exported to South Africa are shortbread, muesli, risotto and pasta, ice cream, sorbet, and even Waitrose wines from across France, Italy and Portugal.

Waitrose export sales grew by nearly 30 per cent last year with recent additions to the export business including South Korea, Taiwan, Ibiza, Australia and Gibraltar. Among the most popular exports are Waitrose teabags, custard creams, crackers and marmalade.

As well as meeting demand from expats, the business is seeing significant growth from local populations who are keen to try out European flavours. A recent success story was when essential Waitrose mayonnaise launched in Chile – only for the shelves to be cleared within hours.

David Morton, Waitrose Business to Business Director, said: ‘To be exporting to six continents is a landmark moment for us.

‘South Africa’s economy is growing and we’re very pleased to be working with Food Lover’s Market to meet the rising demand for cosmopolitan flavours among their customers.

‘We’ve been working closely with farms in South Africa through the Waitrose Foundation for nearly a decade so it’s fantastic to be exporting to the country as well as importing its produce.’

‘The past few years have seen a huge expansion of our presence around the world, and we are always on the look out for potential partners to help grow our global appeal further.’

Notes to editors
Waitrose – Waitrose first started to export its products in 1996 and now has a presence in 50 countries worldwide, including, USA, Canada, Chile, Australia, Cyprus, France, New Zealand, Falkland Islands, Singapore and Hong Kong. It operates five branches in the Channel Islands and has seven shops in the Middle East in partnership with Fine Fare Food Market LLC.

Waitrose currently has 302 Waitrose shops in England, Scotland, Wales and the Channel Islands. Its recent strong performance has been driven by the success of the essential Waitrose range and its myWaitrose card, its partnership with Heston Blumenthal and unmatchable top tier of products including the ‘Duchy Originals From Waitrose’ range. Waitrose combines the convenience of a supermarket with the expertise and service of a specialist shop – dedicated to offering quality food that has been responsibly sourced, combined with high standards of customer service

The Waitrose Foundation operates as a partnership between the supermarket and members of the supply chain[1] and facilitates social, education and health related schemes which directly benefit farm workers and their communities.

Administered by a board of trustees, including representatives of Waitrose and other partners in the supply chain including exporters, Green Marketing and importers, Poupart, The Waitrose Foundation allocates grants based on proposals submitted by worker councils on each farm. This system ensures that money is quickly directed where it is most needed.

Both the Fairtrade and Waitrose Foundation schemes have the same principles at heart: the empowerment of individuals, thorough social and economic development to secure long term trading relationships, but Waitrose Foundation producers are not required to pay the costs of inspection and certification and the cost is not passed to the customer. The Waitrose Foundation is endorsed by the South African government and is in line with the AgriBEE (Black Economic Empowerment) reforms.

About Fruit & Veg City
Fruit & Veg City in numbers:
Founded in 1993
Will be established for 21 years this year
Just over 110 Food Lover’s Market stores across South Africa and Africa
Over 150 FreshStop at Caltex stores in South Africa
Over 10 000 employees.

The Fruit & Veg City story – Fruit & Veg City was started in 1993 by brothers Brian and Mike Coppin. Since the beginning it has always been a family business, with emphasis placed on good old family values such as wholesomeness, trust, honesty and integrity. The brothers’ vision was to create a store that would resemble a marketplace of old, where farmers brought their fresh produce from their farms to be sold to the public. This was how their first store in Kenilworth, Cape Town was run, and this is how every Fruit & Veg City store that has opened since is also run. The dedication to freshness at an affordable price has always remained one of the cornerstones on which Fruit & Veg City is built. Today there are more than 110 Food Lover’s Market stores throughout Africa and South Africa, and even as far afield as Australia. Yet, it remains a family business with brothers Brian and Mike still running the day-to-day operations of the company. Their vision is still visible in every Fruit & Veg City store, where freshness and value are placed at a premium.

The Food Lover’s Market story – The next step in the evolution of Fruit & Veg City was to create a modern eatery where food aficionados could indulge in a range of gourmet foods. It was this vision that finally gave birth to the Food Lover’s Market, a theatre of food that was designed specifically with connoisseurs in mind. The Fruit & Veg City team crossed the globe in search of the hottest international trends in food. They visited the United States, Europe, Australia and the East, and then brought the best elements of what they saw in there back with them. The result is the stylish and modern food emporium called the Food Lover’s Market. At the Food Lover’s Market, we cater for the discerning customer, the connoisseurs, the professional ‘foodies’ and, of course, our regular customers who are used to the exceptional quality and variety on offer at Fruit & Veg City.

The Freshstop at Caltex story – Two of the country’s most respected brands in their respective fields, Fruit & Veg City and Chevron, have teamed up to create one of South Africa’s most exciting new retail partnerships in years, called Freshstop at Caltex. These trendy stores, located at selected Caltex service stations, feature a variety of innovative departments and products that focuses on the ever-increasing, time conscious demands of consumers. True to its name, Freshstop at Caltex is a one-stop shop for fruit and vegetables, with an extensive fresh produce section that is supplied and stocked by the Fruit & Veg City distribution network. Customers can also stock up on a wide range of snacks and take-aways, from grilled chicken and schwarmas to pizzas, trammezzinis, healthy smoothies and fruit salads. What’s more, FreshStop has teamed up with Lavazza and Seattle Coffee, so those on the move can grab a quick cup of gourmet coffee to go. Freshstop at Caltex trades 24-hours a day, seven days a week, to make sure we bring our customer a whole new level of convenience.

Enquiries
For further information please contact:

Rob Cadwell
Senior Press Officer, Waitrose
Telephone: 01344 826182
Email: rob_cadwell@waitrose.co.uk

The first-ever Sainsbury’s Sport Relief Games to take place from Friday 21 to Sunday 23 March 2014

LONDON, 2014-2-28 — /EPR Retail News/ — Sport Relief is back and Sainsbury’s is going the extra mile to help customers and colleagues fundraise. The first-ever Sainsbury’s Sport Relief Games takes place in March and there is likely to be a run, cycle or swim event near you. Meanwhile, a range of new merchandise is now on sale in-store.

The Sainsbury’s Sport Relief Games take place from Friday 21 to Sunday 23 March 2014 and the public can join in the fun by running, swimming or cycling their way to raising cash at over a thousand venues around the country. To find out where your nearest event is taking place, visit http://www.sportrelief.com/event-info/enter-now

Fundraising activities will be taking place across all Sainsbury’s stores during Friday 21 to Sunday 23 March and will include a nationwide flash mob dance on Friday 21March across all stores to help generate further funds for Sport Relief.

Sainsbury’s Chief Executive Justin King is also getting set to take part in his own Sport Relief Mile challenge. Justin is hoping to beat his previous fundraising total of £70,000 when he runs with over 1,000 colleagues between Wednesday 19 and Sunday 23 March.

Chief Executive Justin King said: “I’m really looking forward to meeting our colleagues across the country as I get set for my final Sainsbury’s Sport Relief Mile Challenge, ending in a run, swim and cycle in London Queen Elizabeth Olympic Park on Sunday 23rd March. The commitment from our colleagues to raise funds in previous years has been incredible and they really do go the extra mile”.

Looking good when taking part in the Sainsbury’s Sport Relief Games or other sporting activities has also never been easier with the exclusive range of Sport Relief merchandise available in stores this year, which includes the official Sport Relief t-shirt, priced at just £10.

Sport Relief Ambassador, Perrie Edwards from Little Mix said: “We’ve all seen people push themselves and do incredible things for Sport Relief so it’s a dream come true to be part of it.”

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The first-ever Sainsbury’s Sport Relief Games to take place from Friday 21 to Sunday 23 March 2014

The first-ever Sainsbury’s Sport Relief Games to take place from Friday 21 to Sunday 23 March 2014

 

Sainsbury’s stores teamed up with children’s authors to help schools celebrate World Book Day

LONDON, 2014-2-28 — /EPR Retail News/ — Several Sainsbury’s stores have teamed up with children’s authors to help schools celebrate World Book Day. As part of Sainsbury’s ‘Make Believe’ campaign, we have opened up a new chapter in our community work by inviting children’s authors such as Joanna Gray and many more into several stores.

The event runs from 28 February until Thursday 6 March, as part of Sainsbury’s ‘Make Believe’ campaign.  The first reading corner took place at Wakefield Marsh Way on Wednesday (28 February) and involved Leeds author Joanna Gray who wrote ‘Little Raindrop’ which teaches children about the water cycle.

Joanna said: “I love World Book Day and it provides a great way to show children the magical world of reading. I really enjoyed meeting the children at St Austin’s Primary school and helping them learn more about the water cycle, which is the main theme behind the book”.

Along with the eight stores supported by authors, over 50 more Sainsbury’s stores will be holding their own reading corners with local schools, with some featuring special appearances by popular children’s characters including ‘Cat in The Hat’, ‘Mog’ and ‘Blue Kangaroo’. Meanwhile, ‘The ‘Gruffalo’ will be teaming up with Former Blue Peter presenter and mother of two, Katy Hill to read ‘The Gruffalo’ to school children from Merton Abbey Primary school on Tuesday 4 March.

The ‘Make Believe’ Reading Corners will also give the children the chance to dress up as their favourite book character to celebrate World Book Day, which is an annual event with the aim to get children excited about reading.  Along with the reading, children will get to create their own bookmarks, and masks at the reading corner, which will be provided by Disney. Each child will also receive a copy of the modern Disney classic ‘Tangled’ to take away.

As part of ‘Make Believe’, selected stores have a range of childrenswear outfits and books, which are on sale now.

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Sainsbury’s stores teamed up with children’s authors to help schools celebrate World Book Day

Sainsbury’s stores teamed up with children’s authors to help schools celebrate World Book Day

 

Paralympians and Para-athletes to visit 12 Sainsbury’s stores to help launch Sport Relief fundraising in-store

LONDON, 2014-2-28 — /EPR Retail News/ — Paralympians and Para-athletes will be visiting twelve Sainsbury’s stores this weekend to help launch Sport Relief fundraising in-store.

Stars including Wheelchair Basketball star Natasha Davies and  Para-athletics star Rob Womack will be encouraging customers to sign up for the first ever Sainsbury’s Sport Relief Games, with over 1000 events taking place in March.  The athletes will also be helping promote this year’s exclusive range of Sport Relief merchandise now available in-store and includes the official Sport Relief t-shirt, priced at just £10 and the Sport Relief headband, priced at just £2.50.

WHO?

  • Naomi Riches – Paralympic rower visiting Maidenhead store on Friday 28th February from 10am – 1pm
  • Natasha Davies  – Paralympic Wheelchair Basketball star visiting Cobham store on Saturday 1stMarch from 2pm – 4pm
  • Sarah McPhee – Paralympic Wheelchair Basketball star visiting Ashton Moss store on Saturday 1st March – 11am – 1pm
  • Matt Rollston – Wheelchair Basketball para-athlete visiting Strand Road store on Friday 28thFebruary – 11am – 2pm
  • Kim Daybell  –  Paralympic Table-Tennis star visiting Leeds White Rose store on Sunday 2ndMarch – 10am – 1pm
  • Sara Head – Paralympic Wheelchair Basketball star visiting Colchester Avenue store on Saturday 1st March – 1pm – 4pm
  • Jack Hunter-Spivey – Table Tennis Para-athlete visiting East Prescot Road store on Sunday 2nd March – 1pm – 4pm
  • David Wetherill – Paralympic Table Tennis star visiting Marsh Mills store on Sunday 9th March – 1pm – 4pm
  • Matthew Campbell-Hill – Wheelchair Fencing para-athlete visiting Newquay store on Friday 28th February – 1pm – 4pm
  • Rob Womack – Paralympic athletics star visiting Southend store on Friday 28th February – 1pm – 4pm
  • Marc McCarroll  – Paralympic Wheelchair Tennis star visiting Crayford store on Saturday 1stMarch – 10am – 1pm
  • Dave Phillipson – Paralympic Wheelchair Tennis star visiting Beeston store on Saturday 1stMarch – 1am – 4pm

The Sainsbury’s Sport Relief Games take place from Friday 21st to Sunday 23rd March 2014 and the public can join in the fun by running, swimming or cycling their way to raising cash at over a thousand venues around the country. Sara is fully behind the event and is encouraging customers to sign-up for the challenge by visiting the Sport Relief website:

Customers can sign up to the local Sainsbury’s Sport Relief Games event by visiting: http://www.sportrelief.com/event-info/enter-now

Paralympians and Para-athletes to visit 12 Sainsbury’s stores to help launch Sport Relief fundraising in-store

Paralympians and Para-athletes to visit 12 Sainsbury’s stores to help launch Sport Relief fundraising in-store

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Jon Rudoe to join Sainsbury’s Operating Board as Digital and Technology Director

LONDON, 2014-2-28 — /EPR Retail News/ — Sainsbury’s Jon Rudoe is to join the retailer’s Operating Board as Digital and Technology Director in a move that recognises the rapidly growing importance of online and digital sales channels to the business as well as Jon’s talent and significant achievements at the company.

Sainsbury’s CEO Justin King said: “I’m delighted to welcome Jon to the Operating Board – he’s a driven and talented Sainsbury’s leader whose first-class team has turned our Groceries Online operation into a billion-pound business and transformed our digital offer. Jon will be a fantastic support first to me and then to Mike Coupe as we continue on our journey to help customers Live Well For Less through our digital as well as traditional channels.”

Jon, 35, joined Sainsbury’s in July 2011 as Director of Online, leading the Grocery and Non-Food Online businesses. In March 2013 he also took on responsibility for leading Sainsbury’s digital strategy, including the development of Click and Collect, Digital Entertainments, Mobile Scan and Go and building the Digital Experience team.

He has helped the Groceries Online business break through £1 billion in sales, driving significant operational improvements and leading the launch of a new website and platform for grocery sales.

In his new Operating Board role as Digital and Technology Director, Jon will combine his digital responsibilities with leadership of the IT function, reinforcing Sainsbury’s commitment to its digital future.

Jon Rudoe said: “I’m excited to be given the chance to take our digital engagement to the next level – this move reflects the increasing importance that we’re placing on technology and digital sales channels. Technology is a key part of our future vision, right across the customer experience and as a vital tool for our 157,000 colleagues, and I want to put it at the heart of everything we do to serve our customers.”

Jon’s new role will incorporate the responsibilities of IT Director Rob Fraser, who, as previously announced, will leave the business on March 15. Joining in 2009, Rob played a huge part in the development and growth of the business, delivering game-changing projects such as Brand Match, Real Time Supply Chain and the Red Prairie depot system.

In a separate move, Sainsbury’s said Property Director Neil Sachdev would step down at the end of the financial year after seven years in the business. After four decades of success in the retail industry Neil is looking forward to taking up some new opportunities, including some in a non-executive capacity.

Neil has helped drive Sainsbury’s footage growth while reducing costs and improving processes, and has developed and grown the property business, adding significant value to our asset base and leading the work on the “Respect for our Environment” value.

Justin King said: “I’d like to thank both Neil and Rob for the significant contribution they have made to Sainsbury’s, and we wish them the very best for the future.”

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Jon Rudoe to join Sainsbury’s Operating Board as Digital and Technology Director

Jon Rudoe to join Sainsbury’s Operating Board as Digital and Technology Director

 

Good Housekeeping Easter Egg of the Year goes to Tesco for a second year in a row

Cheshunt, England, 2014-2-28 — /EPR Retail News/ — The finest* Medley of Belgian Chocolate Easter Eggs, £25 has cracked it by beating luxury rivals to take the title of Good Housekeeping Easter Egg of the Year.  This is the second year running that Tesco has won the coveted award.

The judges were wowed by this egg – they described it as “beautifully presented nesting half eggs in a decorative wooden box. The mixture of white, milk and dark chocolate along with butterscotch, raspberry, hazelnuts and coconut pieces means there is something for everyone to enjoy.”

With a score of 88/100, it topped the tasting and saw off rivals such as the £24.95 Harrods Lattice Egg which scored 79/100, and the £45 Rococco Milk & Dark Egg which scored 78/100.

Good Housekeeping Consumer Director Caroline Bloor said: “You’re as likely to find a delicious Easter treat in the supermarket as you are in the luxury shops.”

In addition, Tesco also won the Good Housekeeping Hot Cross Bun tasting with theirfinest* 4 Hot Cross Buns, £1.70.  The judges were impressed by their “beautiful rounded shape, soft juicy fruit and just the right amount of spice.”

Scoring 78/100, these hot cross buns beat rivals including Waitrose Fruit & Oat Hot Cross Buns, £1.69 for 4 which scored 65/100 and Heston’s Honey and Ginger Hot Cross Buns, £1.69 for 2 which scored 58/100.

The prized accolade was welcomed at Tesco who have recently celebrated winning Quality Food Awards Retailer of the Year 2013 and the World Food Awards 2013 National Retailer of the Year.

Why go anywhere other than Tesco this Easter!

– ends –

For further information, high res images or samples, please contact:

Michelle Smith    01992 644565 michelle.smith@uk.tesco.com/@LemonaidePR

Deana Green  01992 806576 deana.green@uk.tesco.com

We are delighted to have been recognised for the work we do for our customers:

Quality Food Awards Retailer of the Year 2013

World Food Awards 2013 – National Retailer of the Year

International Wine & Spirit Competition (IWSC) 2013 – Retailer of the Year

World Cheese Awards 2013 – Super Golds for finest* Chaource and finest* Montagnolo Affine Blue Vein Cheese

For more information please contact the Tesco Press Office on
01992 644645
We are a team of over 530,000 people in 12 markets dedicated to bringing the best value, choice and service to our millions of customers each week. Our core purpose is ‘we make what matters better, together’.

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Good Housekeeping Easter Egg of the Year goes to Tesco for a second year in a row

Good Housekeeping Easter Egg of the Year goes to Tesco for a second year in a row

Diet Coke FROST Cherry as a Slurpee® will be available exclusively at 7-Eleven locations nationwide Feb. 26, 2014

No. 2 Beverage in U.S. Has a New Product Now Available as Low-Calorie Frozen Carbonated Beverage; Nationwide Launch Coming in May

ATLANTA, 2014-2-28 — /EPR Retail News/ — Warning! A nationwide “frosting” is about to hit the United States, and its cool taste will keep Diet Coke fans chattering well past the winter months.

Diet Coke, the No. 2 beverage in the U.S., is introducing a new product, Diet Coke FROST. A great tasting, low-calorie frozen carbonated beverage, this is the first frozen offering in the brand’s 31-year history. Diet Coke FROST includes natural cherry flavorings to deliver a refreshing uplift. Each serving has 30 calories and 12 grams of carbs.

Diet Coke FROST Cherry as a Slurpee® will be available exclusively at 7-Eleven locations nationwide Feb. 26, 2014. As the weather starts to warm up Diet Coke FROST will ring in the much anticipated spring temperatures with broader availability. Look for Diet Coke FROST at frozen carbonated beverage machines at other retailers across the country at the end of May.

“Diet Coke FROST is a great-tasting, refreshing uplift for any time of day,” said Stuart Kronauge, General Manager, Sparkling Beverages, Coca-Cola North America. “Providing fans with yet another way to enjoy their favorite beverage demonstrates why Diet Coke continues to be the No. 2 beverage in the U.S. Exclusively partnering with 7-Eleven for the debut of Diet Coke FROST brings this innovation to people nationwide in a setting famous for delivering frozen perfection.”

“Customers turn to 7-Eleven for our iconic Slurpee beverages, which is how America can first experience Diet Coke FROST,” said Nancy Smith, 7-Eleven’s Senior Vice President of Fresh Foods and Proprietary Beverages. “In addition to exclusively carrying the Diet Coke FROST beverage, we’re also offering fans a coupon to try it for free from our 7-Eleven app.”

People can download the free 7-Eleven mobile app for iPhone or Android platforms here. From the savings section of the app, consumers can access a coupon for a free small Diet Coke FROST Cherry, valid while coupon supplies last.

About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Led by Coca-Cola, one of the world’s most valuable and recognizable brands, our Company’s portfolio features 17 billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del Valle. Globally, we are the No. 1 provider of sparkling beverages, ready-to-drink coffees, and juices and juice drinks. Through the world’s largest beverage distribution system, consumers in more than 200 countries enjoy our beverages at a rate of 1.9 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that reduce our environmental footprint, support active, healthy living, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world’s top 10 private employers with more than 700,000 system associates. For more information, visit Coca-Cola Journey at www.coca-colacompany.com, follow us on Twitter at twitter.com/CocaColaCo, visit our blog, Coca-Cola Unbottled, at www.coca-colablog.com or find us on LinkedIn at www.linkedin.com/company/the-coca-cola-company.

About 7-Eleven, Inc.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses some 10,200 7-Eleven® stores in North America. Globally, there are close to 51,700 7-Eleven stores in 16 countries. During 2012, 7-Eleven stores generated total worldwide sales close to $84.8 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #2 on Franchise Times Top 200 Franchise Companies for 2013; #3 spot on Entrepreneur magazine’s Franchise 500 list for 2012, and #3 in Forbes magazine’s Top 20 Franchises to Start. 7-Eleven is No. 3 on Fast Company magazine’s 2013 list of the “World’s Top 10 Most Innovative Companies in Retail” and among the Top Veteran-Friendly Companies for 2013 by U.S. Veterans Magazine and on GI Jobs magazine’s Top 100 Military Friendly Employers for 2014. Hispanic Magazine named 7-Eleven among its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven is franchising its stores in the U.S. and expanding through organic growth, acquisitions and its Business Conversion Program. Find out more online at www.7-Eleven.com.

Contacts:
Katie Condon,
The Coca-Cola Company
kcondon@coca-cola.com

Margaret Chabris,
7-Eleven, Inc.
972-828-7285
margaret.chabris@7-11.com

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Diet Coke FROST Cherry as a Slurpee® will be available exclusively at 7-Eleven locations nationwide Feb. 26, 2014

Diet Coke FROST Cherry as a Slurpee® will be available exclusively at 7-Eleven locations nationwide Feb. 26, 2014

Dunkin’ Donuts signed with existing franchise group OKD Holdings for 13 new restaurants throughout Oklahoma City

CANTON, MA, 2014-2-28 — /EPR Retail News/ — Dunkin’ Donuts, America’s all-day, everyday stop for coffee and baked goods, announced today the signing of a multi-unit store development agreement with existing franchise group, OKD Holdings, to develop 13 new restaurants throughout Oklahoma City, Okla. The first of the planned restaurants will open in 2015.

Together, this team led by second generation Dunkin’ Donuts franchisee Misha Goli and his partners will manage and oversee the company’s daily operations for each restaurant. Goli currently owns four restaurants throughout Oklahoma City and has a vast knowledge of the QSR industry.

“We are excited to continue to expand Dunkin’ Donuts’ presence throughout Oklahoma City and play an important role in the daily lives of people who live, work and visit here,” said Misha Goli, Dunkin’ Donuts franchisee. “We have a passion and loyalty for the brand and look forward to the opening of our Dunkin’ Donuts restaurants in the years to come.”

Opportunities still remain available throughout Oklahoma in Tulsa as well as outside the Oklahoma City metropolitan area. To drive its expansion efforts, Dunkin’ Donuts has aligned its strategy to support the growth opportunities and consumer needs of individual markets.

Dunkin’ Donuts’ new look includes four distinct restaurant design options for franchisees, each featuring variations in layout, color schemes, graphics, textures, furniture and/or lighting. These designs enhance the current restaurant appearance, environment and layout to serve people all day long. Unlike other quick-service restaurants, Dunkin’ Donuts allows franchisees to select individual elements from any of the four options, creating a restaurant design that reflects their personal tastes and preferences, and best serves their specific restaurant size and location.

Building a solid network of stores within a market enables Dunkin’ Donuts to invest in a distribution model that provides consistent, high-quality products that guests expect. In an effort to keep the brand fresh and competitive, Dunkin’ Donuts offers flexible concepts for any real estate format including free-standing restaurants, end caps, in-line sites, gas and convenience, travel plazas and universities, as well as other retail environments.

“Our secret to success is our passionate franchisees who provide a high-level of customer service to our guests every day,” said Grant Benson, CFE, vice president of global franchising and business development, Dunkin’ Brands. “We believe these existing franchise partners will become an important part of the local communities they serve.”

Since the 1950s, Dunkin’ Donuts has been a daily ritual for millions of people. For more than 60 years, Dunkin’ Donuts has offered delicious food, beverages, and friendly service at a great value. To best serve its guests, Dunkin’ Donuts offers an all-day menu including iced coffee, flavored coffees, lattes, Dunkin’ Donuts K-Cup® Packs, Coolatta® frozen drinks, muffins, bagels, breakfast sandwiches, and a DDSMART® menu featuring better-for-you items.

To learn more about Dunkin’ Donuts, visit www.DunkinDonuts.com or follow us on Facebook (www.facebook.com/DunkinDonuts) and Twitter (www.twitter.com/DunkinDonuts).

About Dunkin’ Donuts  
Founded in 1950, Dunkin’ Donuts is America’s favorite all-day, everyday stop for coffee and baked goods. Dunkin’ Donuts is a market leader in the hot regular/decaf/flavored coffee, iced coffee, donut, bagel and muffin categories. Dunkin’ Donuts has earned the No. 1 ranking for customer loyalty in the coffee category by Brand Keys for seven years running. The company has more than 10,500 restaurants in 31 countries worldwide. For the full-year 2012, Dunkin’ Donuts’ restaurants had global franchisee-reported sales of approximately $6.9 billion. Based in Canton, Mass., Dunkin’ Donuts is part of the Dunkin’ Brands Group, Inc. (Nasdaq: DNKN) family of companies. For more information, visit www.DunkinDonuts.com.

 

Carolina Hurricanes defenseman Andrej Sekera teams up with Harris Teeter to debut Sekera’s personally designed Signature Sub Sandwich

Raleigh, N.C., 2014-2-28 — /EPR Retail News/ — Sekera to Sign Autographs, Sample Signature Sub Sandwich, Introduce Fans to Must-Have Meal for Lunch

Date:      Thursday, March 6, 2014

Time:      5:30 – 6:30 p.m.

Where:   North Hills East Harris Teeter
120-100 St. Albans Dr.
Raleigh, N.C. 27609

Interviews are available.  Live shots are welcomed!

Thursday, March 6 Carolina Hurricanes defenseman Andrej Sekera will team up with Harris Teeter to debut Sekera’s personally designed Signature Sub Sandwich which is guaranteed to fill even the largest appetite.

Sekera’s sandwich “The Rej-Wich” is a must-try for Harris Teeter shoppers. For only $3.99, fans can satisfy their appetite with “The Rej-Wich” which features ham, turkey, provolone cheese topped with cucumber, tomato, banana peppers and drizzled with spicy chipotle sauce on cheese sub bread. Shoppers can make it a lunch pack for only $4.99. The lunch pack includes “The Rej-Wich” sandwich and your choice of one Chocolate Chunk, Macadamia Nut, Oatmeal Raisin or Cranberry Nut Cookie.

“The Rej-Wich” will be available in the Fresh Foods Market Sandwich Shop in all Raleigh-area Harris Teeter stores.  Thursday only, however, Sekera will make an appearance at the North Hills East Harris Teeter to personally introduce shoppers and fans to his Signature Sub Sandwich.  He will also be signing autographs.

Harris Teeter’s Fresh Foods Market offers made-to-order sandwiches and wraps daily and is proud to introduce “The Rej-Wich,” Harris Teeter’s first Signature Sub Sandwich of the season.  Be on the look-out for additional Signature Sub Sandwiches this season.

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Carolina Hurricanes defenseman Andrej Sekera teams up with Harris Teeter to debut Sekera’s personally designed Signature Sub Sandwich

Carolina Hurricanes defenseman Andrej Sekera teams up with Harris Teeter to debut Sekera’s personally designed Signature Sub Sandwich

 

Michaels Stores, Inc. updates on possible fraudulent activity on some U.S. payment cards used at its stores

IRVING, TX, 2014-2-28 — /EPR Retail News/ — Michaels Stores, Inc. (the “Company” or “Michaels”) recently learned of possible fraudulent activity on some U.S. payment cards that had been used at Michaels, suggesting that the Company may have experienced a data security attack. The Company is working closely with federal law enforcement and is conducting an investigation with the help of third-party data security

experts to establish the facts. Although the investigation is ongoing, based on the information the Company has received and in light of the widely-reported criminal efforts to penetrate the data systems of U.S. retailers, Michaels believes it is appropriate to let its customers know a potential issue may have occurred.

“We are concerned there may have been a data security attack on Michaels that may have affected our customers’ payment card information and we are taking aggressive action to determine the nature and scope of the issue,” said Chuck Rubin, CEO. “While we have not confirmed a compromise to our systems, we believe it is in the best interest of our customers to alert them to this potential issue so they can take steps to protect themselves, for example, by reviewing their payment card account statements for unauthorized charges.”

Mr. Rubin added, “Throughout our 40-year history, our customers have always been our number one priority and we deeply regret any inconvenience this may cause. The privacy and security of our customers’ information is of critical importance to us and we are focused on addressing this issue.”

Michaels will post information related to its ongoing investigation as appropriate on the Company’s website, www.michaels.com.

About Michaels
Irving, Texas-based Michaels Stores, Inc. is North America’s largest specialty retailer of arts, crafts, framing, floral, wall decor and seasonal merchandise for the hobbyist and do-it-yourself home decorator.

Media Contact:
Michael Fox
ICR, Inc. for Michaels
Phone: (203) 682-8218
(203) 258-9527
Email: Michael.Fox@icrinc.com

 

H&M Studio presented its autumn 2014 catwalk show during Paris fashion week

Stockholm, Sweden, 2014-2-28 — /EPR Retail News/ — Last night (26 FEB 2014), H&M Studio, the new name for H&M’s seasonal collection of key pieces, presented its autumn 2014 catwalk show during Paris fashion week. Held at the Grand Palais in front of 600 guests, including Miranda Kerr, Jessica Alba and Solange Knowles, models such as Andreea Diaconu, Joan Smalls, Izabel Goulart and Saskia De Brauw wore the look of the season: nonchalant attitude of the 21st century, mixing feminine with masculine styles. The collection will be available in around 250 stores worldwide, as well as online, from September 4, 2014.

The mood of the collection was dominated by a mix of feminine with masculine, with slip dresses and draped tops worn under men’s blazers, biker and aviator jackets. Fabrics included silk crepe, silk satin, fine cashmere and velvet. Fake fur coats added texture with detailing from sequin and stone embroidery.

For the show, the historical Grand Palais was transformed into an abstract cityscape, with graphic architectural lines and billboards punctuating the space. At the head of the space was a stage, on which the upcoming French star HollySiz gave a live performance throughout the show.

Meanwhile the global audience at hm.com had exclusive access to the event with French fashion TV expert Mademoiselle Agnes. Before the show was live-streamed, Mademoiselle Agnes chatted live with celebrities and VIP guests, as well as taking the cameras backstage, giving the global audience a truly front row experience.

H&M Studio is the new name for H&M’s key seasonal fashion collection. With its own dedicated design team, each season H&M Studio will offer a limited-edition collection of the hottest looks and statement pieces.

“I loved the mix of feminine and masculine for autumn at H&M Studio. Slip dresses and draped tops are the new essentials, especially when worn with blazers or biker jackets. It’s about taking the Parisian spirit and bringing it to the H&M world,” says Ann-Sofie Johansson, Head of Design, New Development.

“It’s so good to be at H&M Studio in Paris to see this limited edition collection. H&M is such a wonderful brand – it’s affordable, wearable, and very fashion forward”, says Miranda Kerr.

“I love H&M – it’s so exciting to be here, so much fun. The way I dress I mix things together, and I love to shop at H&M, I always find something new when I’m there”, says Jessica Alba.

For more information please contact:

Kristina Stenvinkel
Head of Communications
Telephone: 08-796 39 08
E-mail: stenvinkel@hm.com

Media relations
Telephone: +46 8 796 53 00
Mail: mediarelations@hm.com

#HMStudioAW14

Pinterest.com/hm – Facebook.com/hm  – Twitter.com/hm – Instagram.com/hm – Youtube.com/hm

H&M Studio presented its autumn 2014 catwalk show during Paris fashion week

H&M Studio presented its autumn 2014 catwalk show during Paris fashion week

 

Clinton Keay appointed Executive VP Finance Sobeys Inc.

Company veteran brings Finance and IT leadership to new role

STELLARTON, NS, 2014-2-28 — /EPR Retail News/ — Sobeys Inc. today announced the appointment of Clinton Keay, CA, as Executive Vice President, Finance. Mr. Keay will be responsible for leading all areas of the company’s finance function including controllership, treasury, tax management, investor relations, financial planning, internal audit and risk management.

Mr. Keay will report to François Vimard, CPA, CA, Chief Financial and Administrative Officer, and will be based at the company’s headquarters in Stellarton, NS.

“Clinton’s deep understanding of our business gained from his 25 years in both finance and information technology leadership positions makes him uniquely qualified to assume this leadership role,” said Mr. Vimard.

Mr. Keay joined Sobeys in 1989 and held a number of progressively senior finance roles including Vice President Accounting and Control and Vice President Finance and Treasurer before being appointed Senior Vice President & Chief Information Officer in 2002. As CIO he led all aspects in the development and execution of the company’s information technology strategy.

Mr. Keay began his career with Clarkson Gordon providing audit, tax, valuation and business advisory services for a variety of clients in various business sectors.

A native of Antigonish, NS, Mr. Keay graduated from Saint Francis Xavier University in 1986 with an Honours Bachelor of Business Administration degree and received his Chartered Accountant’s designation in 1988.

About Sobeys Inc.
Proudly Canadian, with headquarters in Stellarton, Nova Scotia, Sobeys has been serving the food shopping needs of Canadians for 106 years. A wholly-owned subsidiary of Empire Company Limited (TSX:EMP.A), Sobeys owns or franchises approximately 1,500 stores in all 10 provinces under retail banners that include Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawton’s Drug Stores as well as more than 330 retail fuel locations. Sobeys and its franchise affiliates employ more than
124,000 people. The company’s goal is to be widely recognized as the best food retailer and workplace environment in Canada. More information on Sobeys Inc. can be found at www.sobeyscorporate.com.

Media Contact
Andrew Walker
Senior Vice President
Communications & Corporate Affairs
Sobeys Inc.
(905) 214-6711

Investor Contact
Stewart Mahoney, CFA
Senior Vice President
Treasury & Investor Relations
Sobeys Inc.
(902) 752-8371 ext. 3499

 

Russia’s largest retailer Magnit opened its 48 th Magnit Family store in Tobolsk, Urals federal district

Krasnodar, Russia, 2014-2-28 — /EPR Retail News/ — OJSC “Magnit”, Russia’s largest retailer (the “Company”; MICEX and LSE: MGNT), is pleased to announce the opening of the 48th “Magnit Family” store.

Please be informed that on February 28, 2014 the Company has opened its 48th “Magnit Family” store located at 38, 6th neighborhood unit (“Eurasia” shopping center), Tobolsk, Tyumen region, Urals federal district. Assortment of the store consists of more than 5,300 SKUs, out of which about 86% are food items.

There are 13 cash desks installed in the sales area. The outlet is leased by the Company. The hypermarket is open 7 days a week from 9 am to 11 pm.

For further information, please contact:

Timothy Post
Director, Investor Relations
Email: post@gw.tander.ru
Office: +7-861-277-4554 x7600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562

Dina Svishcheva
Deputy Director, Investor Relations
Email: Chistyak@gw.tander.ru
Office: +7-861-277-4554 x5101
Mobile: +7-961-511-0202
Direct Line: +7-861-277-4562

Company description:
Magnit is Russia’s largest retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2013, Magnit operated 22 distribution centers and over 8,000 stores (7,200 convenience, 207 hypermarkets, and 686 cosmetics) in more than 1,868 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS management accounts for 2013, Magnit had revenues of $18,202 million USD and an EBITDA of $2,032 million USD. Magnit’s local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor’s of BB. Measured by market capitalization, Magnit is now Europe’s 2nd largest retailer.

The Retail Industry Leaders Association’s statement at the close of the Trans-Pacific Partnership (TPP) Ministerial meeting in Singapore

Arlington , VA, 2014-2-27 — /EPR Retail News/ — The Retail Industry Leaders Association issued the following statement at the close of the Trans-Pacific Partnership (TPP) Ministerial meeting in Singapore. RILA’s vice president for international trade was in Singapore for the talks with the twelve countries, meeting with negotiators and other stakeholders.

“Immediate duty-free market access for apparel is a priority for retailers in the TPP. Duty-free market access would benefit hard-working American families, both in billions of dollars in duty savings and in supporting millions of American jobs that are part of the apparel global value chains,” emphasized Stephanie Lester, RILA’s vice president for international trade.

“It is clear that the TPP countries have a shared goal to conclude the TPP. Ambitious and comprehensive market access is key to a successful outcome. We look to all countries to offer comprehensive market access liberalization,” continued Lester. “We also urge Congress to renew trade promotion authority as quickly as possible to facilitate a robust trade agenda.”

The TPP is a prospective regional free trade agreement (FTA) between the United States and Australia, Brunei, Canada, Chile, Japan, Mexico, Malaysia, New Zealand, Peru, Singapore, and Vietnam. “It is estimated that a successful TPP agreement would boost global income by $295 billion a year, with $78 billion of that accruing to the United States,” Lester concluded, citing a study by the Peterson Institute.

Economic studies establish that 70 percent of the retail value of apparel imported into the United States is generated in the United States by American workers.  This translates into 3 million good-paying U.S. jobs that would benefit from a robust TPP agreement that provides immediate duty-free market access for qualifying goods.

RILA reiterates its support for a 21st Century TPP agreement that generates new trade and investment opportunities in all sectors for the benefit of American workers, businesses, and families. These opportunities include buying and selling goods and services, sustaining and growing well-paying U.S jobs, and providing high added value for the U.S. and TPP economies.

RILA supports the renewal of Trade Promotion Authority (TPA), also known as the Trade Priorities Act, to establish Congressional priorities and consultation procedures for international trade agreements. TPA provides trade policy direction to the president, and allows the President to pursue free trade agreements that create new trade and investment opportunities. Every U.S. President should have this authority.

RILA is the trade association of the world’s largest and most innovative retail companies. RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs and more than 100,000 stores, manufacturing facilities and distribution centers domestically and abroad.

###

Allie Brandenburger
Director, Communications
Phone: 703-600-2063
Email: allie.brandenburger@rila.org

National Retail Federation’s CEO Matthew Shay comments on JPMorgan Chase & Co’s PIN and Chip credit cards announcement

WASHINGTON, DC, 2014-2-27 — /EPR Retail News/ — The National Retail Federation issued the following statement from President and CEO Matthew Shay in response to the announcement by JPMorgan Chase & Co. that the bank will issue its Europay MasterCard Visa credit cards as PIN and Chip cards. The bank has previously issued the cards only as chip-and-signature.

“Use of a PIN is absolutely essential to providing merchants and their customers with the full extent of protection available from chip-based cards. The chip authenticates that a card isn’t a counterfeit but it’s the PIN that ensures the card is being used by its actual owner and not a thief scrawling an illegible signature. Chip-and-signature cards just don’t offer the level of protection needed to help stop criminal hackers from making money off payment card data. NRF has encouraged uniform use of PIN and Chip for years, and urged Chase in recent meetings to make full use of the double layer of protection these cards offer. We’re pleased that they have seen the advantage of doing that and hope Chase will issue all of its new cards as PIN and Chip. The networks and issuing banks should follow their lead and do the same.”

NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s This is Retail campaign highlights the industry’s opportunities for life-long careers, how retailers strengthen communities, and the critical role that retail plays in driving innovation. www.nrf.com

Contact: J. Craig Shearman or Bethany Aronhalt (855) NRF-PRESS
press@nrf.com 

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Delhaize Group to divest its Bulgarian operations to AP Mart

BRUSSELS, Belgium, 2014-2-27 — /EPR Retail News/ — Delhaize Group (Euronext Brussels: DELB, NYSE: DEG), the Belgian international food retailer, announces that it has signed today an agreement with AP Mart on the sale of its Bulgarian operations.

Delhaize Group has signed an agreement with AP Mart, which is in process of registration, to divest its Bulgarian operations. The transaction is expected to complete in the second quarter subject to regulatory approval as well customary closing conditions and working capital adjustments.

Delhaize Group
Delhaize Group is a Belgian international food retailer present in nine countries on three continents. At the end of 2013, Delhaize Group’s sales network consisted of 3 534 stores. In 2013, Delhaize Group posted €21.1 billion ($28.0 billion) in revenues. In 2012, Delhaize Group posted €104 million ($134 million) in net profit (Group share). At the end of 2012, Delhaize Group employed approximately 158 000 people. Delhaize Group’s stock is listed on NYSE Euronext Brussels (DELB) and the New York Stock Exchange (DEG).

This press release is available in English, French and Dutch. You can also find it on the website http://www.delhaizegroup.com. Questions can be sent to investor@delhaizegroup.com.

Indonesia: PT Matahari Putra Prima Tbk reported revenue up 16.2% and net earnings up 115% in 2013

MPPA FULL YEAR 2013 RESULTS:
REVENUE UP 16.2%
NET EARNINGS UP 115.0%
Proforma

Highlights:

·         Full year gross sales of Rp12,564 billion, 16.2% over 2012

·         Full year same store sales growth (SSSG) of 4.5%

·         Matahari Food Business (MFB) opened a record 39 new stores in 2013, and now operates a total of 222 multi format stores

Jakarta, Indonesia, 2014-2-27 — /EPR Retail News/ — PT Matahari Putra Prima Tbk reported strong results in the full year 2013. Gross sales were Rp12,564 billion, a 11.1% increase over last year, with a 85.8% growth in net income to Rp445, as compared to Rp239 billion last year.

Matahari Food Business (MFB) gross sales were Rp12,564 billion, an increase of 16.2%. On a pro forma basis MFB net income increased 115.0% to Rp445 billion from Rp207 billion.

The full year SSSG of 4.5% in 2013 (Q4 SSSG was 5.6%) reflected the continued strong demand from the company’s target middle income segment, despite changes in the macroeconomic environment.

MPPA currently operates 222 stores (99 Hypermart, 29 Foodmart and 94 Boston Health & Beauty) in 63 cities across Indonesia. MFB continued the aggressive expansion and opened a total of 39 new stores in 2013, (19 Hypermart, 3 Foodmart and 17 Boston Health & Beauty). At the end of the year the total gross retail space increased to 648,215.

Total debt as of December 31, 2013 was Rp 188 billion, payable in April 2014. The Company continues to support the expansion of new stores with internal cash flow.

Bunjamin Mailool, President Director of the Company said, “We are pleased with the results of 2013. We’ve successfully executed the strategic direction recommended by Merrill Lynch, which enabled management to focus on the Matahari Food Business. MFB continues to be the market leader, gaining market share in the modern retail grocery segment and is a first mover in new markets. As a dominate player in existing markets, MFB is well positioned to continue to support the strong growth projected for Indonesia’s economy”.

About PT Matahari Putra Prima, Tbk
MPPA has the widest geographic coverage and is the fastest growing fast-moving consumer goods modern multi-format food retailer in Indonesia and operates retail stores under the brands of Hypermart, Foodmart, and Boston Health & Beauty. Matahari Food Business works closely with small and medium enterprise companies for local sourcing to provide value, quality and healthy selections to the growing middle class family. MFB operates a total of 222 retail stores.

For further information, please contact:

Investor Relations:
Danny Crayton, Chief of Investor Relations
danny.crayton@hypermart.co.id

Mobile: +628118801534

Corporate Communications:
Danny Kojongian, Director
danny.kojongian@hypermart.co.id

Mobile: +628161376868

This press release has been prepared by PT Matahari Putra Prima Tbk (“MPPA”) and is circulated for the purpose of general information only. It is not intended for any specific person or purpose and does not constitute a recommendation regarding the securities of MPPA.  No warranty (expressed or implied) is made to the accuracy or completeness of the information. All opinions and estimations included in this release constitute our judgment as of this date and are subject to change without prior notice. MPPA disclaims any responsibility or liability whatsoever arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of this press release and neither MPPA nor any of its affiliated companies and their respective employees and agents accepts liability for any errors, omissions, negligent or otherwise, in this press release and any inaccuracy herein or omission here from which might otherwise arise.

Forward-Looking Statements

Certain statements in this release are or may be forward- looking statements.  These statements typically contain words such as “will”, “expects” and “anticipates” and words of similar import.  By their nature, forward looking statements involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this release. Factors that could cause actual results to differ include, but are not limited to, economic, social and political conditions in Indonesia; the state of the property industry in Indonesia; prevailing market conditions; increases in regulatory burdens in Indonesia, including environmental regulations and compliance costs; fluctuations in foreign currency exchange rates; interest rate trends, cost of capital and capital availability; the anticipated demand and selling prices for our developments and related capital expenditures and investments; the cost of construction; availability of real estate property; competition from other companies and venues; shifts in customer demands; changes in operation expenses, including employee wages, benefits and training, governmental and public policy changes; our ability to be and remain competitive; our financial condition, business strategy as well as the plans and objectives of our management for future operations; generation of future receivables; and environmental compliance and remediation. Should one or more of these uncertainties or risks, among others, materialize; actual results may vary materially from those estimated, anticipated or projected. Specifically, but without limitation, capital costs could increase, projects could be delayed and anticipated improvements in production, capacity or performance might not be fully realized. Although we believe that the expectations of our management as reflected by such forward-looking statements are reasonable based on information currently available to us, no assurances can be given that such expectations will prove to have been correct. You should not unduly rely on such statements. In any event, these statements speak only as of the date hereof, and we undertake no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.

National Nutrition Month: ShopRite of Uniondale to host book signing by certified diabetes educator Susan Weiner

Author Susan Weiner, RDN launches new release, The Complete Diabetes Organizer

Uniondale, NY, 2014-2-27 — /EPR Retail News/ — In lieu of March, National Nutrition Month, the ShopRite of Uniondale is hosting a book signing by certified diabetes educator Susan Weiner, Registered Dietitian Nutritionist on Saturday, March 1 from 11a.m.-3 p.m..  The Complete Diabetes Organizer, written by Ms. Weiner and professional organizer Leslie Joel, will be available to customers at $20 a copy (cash only).  A limited number of $5 off coupons will be available to customers while supplies last.

Ms. Weiner’s book offers diabetics stress-free solutions to maintain and manage their diabetes.  While Ms. Weiner greets customers and signs books, ShopRite’s in-store dietitian, Shauna Del Prete, RD, will conduct brief diabetes store tours and sample diabetic friendly products.

A full listing of ShopRite events to celebrate National Nutrition Month events, can be found at http://www.shoprite.com/health-events/.

In 2006 ShopRite took the initiative to implement a unique health and wellness program to help its customers eat well and live a healthy lifestyle. ShopRite’s Retail Dietitian program has grown since then to include more than eighty in-store Registered Dietitians who provide their services to ShopRite customers completely free of charge.

As part of ShopRite’s commitment to helping its customers live healthier lives, an on-site registered dietitian is made available in select stores on a daily basis for customer consultation. Customers can take advantage of these services, which include, but are not limited to, personal nutrition, special diets for specific medical conditions, healthy alternatives in your favorite recipes, smarter shopping for healthier living and implementing more nutritious foods into everyday meals. Best of all, these services are free of charge!

WHEN:           Saturday, March 1, 11AM-3PM

WHERE:         ShopRite of Uniondale
1121 Jerusalem Ave
Uniondale, New York 11553

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About ShopRite 
ShopRite is the registered trademark of Wakefern Food Corp., a retailer-owned cooperative based in Keasbey, NJ,  and the largest supermarket cooperative in the United States.  With more than 250 ShopRite supermarkets located throughout New Jersey, New York, Pennsylvania, Connecticut, Delaware and Maryland, ShopRite serves more than six million customers each week.  A long-time supporter of key community efforts, ShopRite is dedicated to fighting hunger in the communities it serves.  Through its ShopRite Partners In Caring program, ShopRite has donated $33 million to 1,700 worthy charities and food banks since the program began in 1999.  As a title sponsor of the LPGA’s ShopRite Classic, ShopRite has raised more than $27 million for local organizations, hospitals and community groups.  Progressive Grocer named ShopRite its 2011 Retailer of the Year and Supermarket News awarded ShopRite its 2011 Retail Excellence Award.

For more information, please visit www.ShopRite.com.

Harris Teeter to help raise funds for Muscular Dystrophy Association (MDA)

Help MDA this March in the Fight Against Neuromuscular Disease

Matthews, N.C., 2014-2-27 — /EPR Retail News/ — Harris Teeter is pleased to announce a partnership with the Muscular Dystrophy Association (MDA) to help the non-profit health agency raise funding to continue its mission of finding treatments and cures for neuromuscular diseases.

March 1 – March 31, Harris Teeter associates in all Harris Teeter and 201central stores will sell $1, $3 and $5 “Make a Muscle” donation cards.  Sales of the donation cards will directly benefit MDA in your community.

“MDA is grateful for our long standing partnership with Harris Teeter and is looking forward to the 2014 campaign,” said Theresa Miller, divisional director for MDA. “Through the generosity of Harris Teeter associates and customers, MDA is able to fund local comprehensive health care services, as well as move forward in our quest for a cure.”

Did you know:

  • MDA spends $65 a minute, every minute of the year, supporting more than 250 research projects worldwide searching for treatments and cures for the more than 40 diseases in its program;
  • MDA has the most comprehensive program of any voluntary health agency in the country, providing services through 120 local offices in the United States and Puerto Rico; and
  • MDA has been designated a “Top-Rated Charity” by the American Institute of Philanthropy and has earned the right to display the Better Business Bureau Accredited Charity seal.

There are many ways to help MDA in the fight against neuromuscular disease.  Please consider contributing financially at your local Harris Teeter or raising awareness for the MDA on your social media pages.

EASY TWEET:  Fight back against muscle disease. Support @MDAnews @harristeeter Go to [insert link to landing page] #MakeAMuscle

EASY TWEET: I supported @MDAnews today @Harris Teeter #MakeAMuscle

Click here for a Campaign poster and click here to watch a copy of a video announcing the launch of the Muscular Dystrophy Association Donation Card Campaign at Harris Teeter.

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Harris Teeter rewarded its Week 4 Winners of $100,000 Giveaway

Six Weeks, $60,000 in Prizes Remain

Matthews, N.C., 2014-2-27 — /EPR Retail News/ — Last Saturday, Feb. 22, 2014, as part of Harris Teeter’s Together in Education (TIE) $100,000 Giveaway, Harris Teeter’s TIE Prize Patrol visited homes in Winston Salem, N.C. to reward our Week 4 winners. Shannon Reed won $2,950 for herself and $2,950 for Paisley Magnet School while Jeffery England won $1,550 for himself and $1,550 for Morgan Elementary School. Bonnie Smith and Sandra Lahaie each won $500 to be split between themselves and their TIE school.

During the $100,000 Giveaway, a winner (“Weekly Contestant”) is randomly drawn every Wednesday between Jan. 22, 2014 and April 1, 2014.  Harris Teeter’s TIE Prize Patrol surprises the Weekly Contestant at home the following Saturday.  The Prize Patrol awards the Weekly Contestant and the TIE school to which the contestant’s VIC card is linked with $250 for being selected, and then searches the home for Harris Teeter Brand products.  For every Harris Teeter Brand product found, the Weekly Contestant and the TIE school to which the contestant’s VIC card is linked each earn $50. The total maximum donation each weekend is $10,000. If the $10,000 is not entirely spent at the first Weekly Contestant’s home, the Prize Patrol will move on to other Weekly Contestants’ homes until the full $10,000 is awarded for the day.

As part of the TIE $100,000 Giveaway, Harris Teeter will also select and advertise a Bonus Item each week.  If the Bonus Item is found in the Weekly Contestant’s home, the Weekly Contestant and the TIE school will each earn $250.

The Week 4 Bonus Item was Harris Teeter pasta and was found in both Reed’s home and England’s home; the Week 5 Bonus Item is Fresh Foods Market Soup.

 

Weekly Contestant TIE School HT Brands Total Prize
David Brown (Week 1)  Carrboro High School PTSA  91*  $10,000
The Parada Family (Week 2)  South Mecklenburg High School Lacrosse  95  $10,000
Kelly Turner (Week 3)  Covenant Day School   39  $4,400
Andrew Cudahy (Week 3)  Butler High School  51  $5,600
Shannon Reed (Week 4)  Paisley Magnet School  50*  $5,900
Jeffery England (Week 4)  Morgan Elementary School 22* $3,100
Bonnie Smith (Week 4)  North Hills Elementary NA $500
Sandra Lahaie (Week 4)  Hanes Middle School NA $500

*Including Bonus Item

Six weeks remain in the contest; be sure your VIC card is linked to a TIE school for a chance to participate in the $100,000 Giveaway.

 

Target Corporation reported Q4 and full-year net earnings $520 million and $1,971 million respectively

Fourth quarter Adjusted EPS of $1.30; full-year Adjusted EPS of $4.38. Fourth quarter GAAP EPS of $0.81; full-year GAAP EPS of $3.07

  • Target’s U.S. operations generated fourth quarter Adjusted earnings per share of $1.30, at the high end of the updated guidance provided in January.
  • Canadian Segment dilution of (40) cents in the fourth quarter compares with prior guidance of approximately (45) cents.
  • Target’s full-year 2013 Adjusted earnings per share of $4.38 reflect disciplined inventory and expense management despite softer-than-expected U.S. sales.
  • In 2013, the Company returned $2.5 billion to shareholders through dividends and share repurchase, representing more than 125 percent of net earnings.
  • Target’s U.S. comparable sales decreased (2.5)% in the fourth quarter, consistent with prior guidance, driven by positive comparable sales prior to our December 19 announcement of a data breach, followed by meaningfully softer results following the announcement.

Minneapolis, MN, 2014-2-27 — /EPR Retail News/ — Target Corporation (NYSE: TGT) today reported fourth quarter net earnings of $520 million, or $0.81 per share, and full-year net earnings of $1,971 million, or $3.07 per share. Dilution related to the Canadian Segment affected fourth quarter and full-year GAAP EPS by (40) cents and $(1.13), respectively. Adjusted earnings per share1 were $1.30 in fourth quarter 2013, down 21.2 percent from $1.65 in 2012. Full-year 2013 Adjusted EPS of $4.38 was down 8.0 percent from $4.76 in 2012. The tables attached to this press release provide a reconciliation of non-GAAP to GAAP measures. All earnings per share figures refer to diluted earnings per share.

“For more than 50 years Target has succeeded by focusing on our guests,” said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. “During the first half of the fourth quarter, our guest-focused holiday merchandising and marketing plans drove better-than-expected sales. However, results softened meaningfully following our December announcement of a data breach. As we plan for the new fiscal year, we will continue to work tirelessly to win back the confidence of our guests and deliver irresistible merchandise and offers, and we are encouraged that sales trends have improved in recent weeks.”

1Adjusted diluted earnings per share (“Adjusted EPS”), a non-GAAP financial measure, excludes the impact of certain matters not related to
our routine retail operations, such as expenses related to the data breach and the reduction in the beneficial interest asset.

Fiscal 2014 Earnings Guidance
Fiscal 2014 will be Target’s first full year of operating stores in Canada. As a result, beginning with first quarter 2014, the company will no longer exclude Canadian Segment results from Adjusted EPS. For comparison purposes, prior year Adjusted EPS will also include Canadian Segment results.

In first quarter 2014, the Company expects Adjusted EPS of 60 cents to 75 cents, reflecting operating results in our U.S. and Canadian Segments. This measure excludes approximately (2) cents related to the expected reduction of the beneficial interest asset2, as well as any net expenses related to the data breach. For full-year 2014, Target expects Adjusted EPS of $3.85 to $4.15, reflecting operating results in our U.S. and Canadian Segments. This measure excludes approximately (7) cents related to the expected reduction of the beneficial interest asset2, as well as any net expenses related to the data breach.

At this time, the Company is not able to estimate future expenses related to the data breach. Expenses may include payments associated with potential claims by the payment card networks for alleged counterfeit fraud losses and non-ordinary course operating expenses (such as card re-issuance costs), REDcard fraud and card re-issuance expense, payments associated with civil litigation, governmental investigations and enforcement proceedings, expenses for legal, investigative and consulting fees, and incremental expenses and capital investments for remediation activities. These costs may have a material adverse effect on Target’s results of operations in first quarter and full-year 2014 and future periods.

2See the “Accounting Considerations” section of this release for more information related to the beneficial interest asset.

U.S. Segment Results3
As a reminder, following the sale of the U.S. credit card portfolio in March 2013, Target’s historical U.S. Retail Segment and U.S. Credit Card Segment results were combined to form a new U.S. Segment. Selling, General and Administrative (SG&A) expenses in the new U.S. Segment include income from the profit-sharing arrangement with TD Bank Group, net of servicing expenses. The company classified historical U.S. Credit Card Segment revenues and expenses within U.S. Segment SG&A expenses.4

In fourth quarter 2013, sales decreased 6.6 percent to $20.9 billion from $22.4 billion last year, reflecting the impact of an additional accounting week in 20125 and a 2.5 percent decrease in comparable sales, partially offset by the contribution from new stores. Segment earnings before interest expense and income taxes (EBIT) were $1,413 million in fourth quarter 2013, a decrease of 22.4 percent from $1,821 million in 2012.

Fourth quarter EBITDA and EBIT margin rates were 9.2 percent and 6.8 percent, respectively, compared with 10.4 percent and 8.1 percent in the revised U.S. Segment in 2012. Fourth quarter gross margin rate was 27.6 percent compared with 27.8 percent in 2012, reflecting the impact of clearance markdowns combined with Target’s integrated growth strategies, partially offset by a 0.2 percentage-point benefit from changes to certain vendor agreements. Fourth quarter SG&A expense rate was 18.4 percent in 2013 compared with 17.3 percent in the revised U.S. Segment in 2012. This increase was driven by a smaller contribution from the credit card portfolio, which raised the SG&A rate by approximately 0.5 percentage points, the change to certain vendor agreements and the de-leveraging impact of softer-than-expected sales.

Full-year 2013 sales decreased 0.9 percent to $71.3 billion from $72.0 billion last year, reflecting the impact of an additional accounting week in 20125 and a 0.4 percent decrease in comparable sales, partially offset by the contribution from new stores. Full-year EBIT was $4,959 million in 2013, a decrease of 11.3 percent from $5,589 million in 2012. Full-year 2013 EBITDA and EBIT margin rates were 9.8 percent and 7.0 percent, respectively, compared with 10.6 percent and 7.8 percent in the revised U.S. Segment in 2012.

Full-year gross margin rate increased to 29.8 percent from 29.7 percent in 2012, reflecting category-level rate improvements and approximately 0.2 percentage-points of benefit from changes to certain vendor agreements, partially offset by incremental clearance markdowns and the impact of Target’s integrated growth strategies. Full-year 2013 SG&A expense rate was 20.0 percent, compared with 19.1 percent in the revised U.S. Segment in 2012. This increase was driven by a smaller contribution from the credit card portfolio, which raised the SG&A rate by approximately 0.5 percentage points, investments in technology and supply chain in support of multichannel initiatives and the change to certain vendor agreements.

3See the “Non-Segment Impacts to Consolidated GAAP Earnings per Share” section of this release for information about certain expenses that were included in our Consolidated Statements of Operations as SG&A, but were not part of our U.S. Segment results.

4Quarterly and full-year historical information for the three most recently completed years reflecting the impact of the reclassification, and the results for our two segments, U.S. and Canadian, are attached as Exhibit (99) to our current report on Form 8-K filed April 16, 2013.

5The three- and twelve-month periods ended February 1, 2014 were 13- and 52-week periods, respectively, compared with 14- and 53- week periods ended February 2, 2013. The extra week is excluded from the comparable-sales calculation.

Canadian Segment Results
In fourth quarter 2013, the Canadian Segment generated sales of $623 million and EBIT of $(329) million. The fourth quarter gross margin rate of 4.4 percent reflects continued efforts to clear excess inventory. Canadian operations reduced fourth quarter GAAP EPS by (40) cents6.

During fiscal 2013, Target’s Canadian Segment generated sales of $1.3 billion at a gross margin rate of 14.9 percent and EBIT of $(941) million. Canadian operations reduced Target’s full-year 2013 GAAP EPS by $(1.13)6.

6This amount includes interest expense and tax expense that are not included in the segment measure of profit. A reconciliation of non-
GAAP financial measures is included in the tables attached to this release.

Non-Segment Impacts to Consolidated GAAP Earnings per Share
Target incurred charges in fourth quarter 2013 related to part-time team member health benefit changes, land impairments and workforce reductions. The combined effect of these charges increased fourth quarter Consolidated SG&A expense by approximately $64 million.

During fourth quarter 2013, Target experienced a data breach in which an intruder gained unauthorized access to our network and stole certain payment card and other guest information. The Company incurred $17 million of net expense in the fourth quarter, reflecting $61 million of total expenses partially offset by the recognition of a $44 million insurance receivable. These expenses include costs related to investigating the data breach, offering credit-monitoring and identity-theft protection services to our guests, increased staffing in our call centers, procurement of legal and other professional services, REDcard fraud losses and card replacement costs, and an accrual for a probable loss on payment card networks’ anticipated claims for operating expenses incurred as a result of the data breach. This accrual was based on an expectation of reaching negotiated settlements of the payment card networks’ potential claims for alleged nonordinary course operating expenses associated with the data breach, and not on any determination that it is probable we would be found liable on these claims were they to be litigated. It does not include any amounts for the potential claims by the payment card networks for counterfeit fraud losses. At this time we are not able to reasonably estimate a range of possible losses on the payment card networks’ potential claims in excess of the amount accrued.

Interest Expense and Taxes
Target’s fourth quarter 2013 net interest expense decreased 21.2 percent to $161 million from $204 million in 2012, benefiting from debt retirement in first quarter 2013 resulting from the use of proceeds from the sale of the credit card portfolio. Full-year interest expense in 2013 increased to $1,126 million from $762 million in 2012, reflecting a $445 million charge related to the early retirement of debt in first quarter 2013, partially offset by the benefit from debt retirement resulting from the use of proceeds from the sale of the credit card portfolio.

The Company’s effective income tax rate was 37.0 percent in the fourth quarter, compared with 34.3 percent in fourth quarter 2012. The increase of 2.7 percentage points was driven by the net effect of increased losses related to Canadian operations partially offset by a higher year-over-year benefit from the favorable resolution of various income tax matters. Target’s full-year 2013 effective income tax rate was 36.5 percent, an increase of 1.6 percentage points from 34.9 percent in 2012, which was driven by the net effect of increased losses related to Canadian operations combined with a lower year-over-year benefit from the favorable resolution of various income tax matters.

Capital Returned to Shareholders
In fourth quarter 2013, the Company paid dividends of $272 million. Target did not repurchase any shares of its common stock during the quarter, reflecting current performance and the Company’s commitment to maintain its strong investment-grade credit ratings.

For full year 2013, Target returned more than 125 percent of net earnings to shareholders. In 2013, the company repurchased approximately 21.9 million shares of its common stock at an average price of $67.41 for a total investment of $1.47 billion, and paid dividends of $1.0 billion.

Accounting Considerations
At the close of the sale of its entire U.S. consumer credit card receivables portfolio to TD Bank Group in first quarter 2013, Target recognized a $225 million beneficial interest asset, which effectively represented a receivable for the present value of future profit-sharing Target expected to receive on the receivables sold. The Company estimates the asset will be reduced over the four-year period following the close of the transaction, with larger reductions in the early years. The beneficial interest asset was reduced in fourth quarter 2013 by $16 million and $98 million for the full year.

The Company’s fourth quarter and full-year 2012 GAAP earnings included pre-tax gains of $5 million and $161 million, respectively, associated with the agreement to sell the entire U.S. consumer credit card receivables portfolio to TD Bank Group. These gains are related to the accounting treatment of the consumer credit receivables as “held for sale” assets.

Miscellaneous
Target Corporation will webcast its fourth quarter earnings conference call at 9:30 a.m. CST today. Investors and the media are invited to listen to the call through the Company’s website at www.target.com/investors (click on “events & presentations”). A telephone replay of the call will be available beginning at approximately 11:30 a.m. CST today through the end of business on February 28, 2014. The replay number is (855) 859-2056 (passcode: 78423307).

Statements in this release regarding first quarter and full-year 2014 earnings guidance and the impact of the data breach on the Company’s results of operations are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements speak only as of the date they are made and are subject to risks and uncertainties which could cause the Company’s actual results to differ materially. The most important risks and uncertainties are described in Item 8.01 of the Company’s Form 8-K filed on February 26, 2014.

In addition to the GAAP results provided in this release, the Company provides Adjusted diluted earnings per share for the three- and twelve-month periods ended February 1, 2014 and February 2, 2013, respectively. This measure is not in accordance with, or an alternative for, generally accepted accounting principles in the United States. The most comparable GAAP measure is diluted earnings per share. Management believes Adjusted EPS is useful in providing period-to-period comparisons of the results of the Company’s U.S. operations. Adjusted EPS should not be considered in isolation or as a substitution for analysis of the Company’s results as reported under GAAP. Other companies may calculate Adjusted EPS differently than the Company does, limiting the usefulness of the measure for comparisons with other companies.

About Target
Minneapolis-based Target Corporation (NYSE: TGT) serves guests at 1,917 stores – 1,793 in the United States and 124 in Canada – and at Target.com. Since 1946, Target has given 5 percent of its profit through community grants and programs; today, that giving equals more than $4 million a week. For more information about Target’s commitment to corporate responsibility, visit target.com/corporateresponsibility.

media contact

Eric Hausman
Public Relations
p: (612) 761-2054

BESTSELLER’s employees donate to three humanitarian projects in India, China and Africa

BESTSELLER EMPLOYEES HELPED MAKE A DIFFERENCE BY DONATING A PART OF THEIR NEW YEAR’S GIFT TO THREE HUMANITARIAN PROJECTS IN INDIA, CHINA AND AFRICA. FOLLOWING THE EMPLOYEE DONATIONS, BESTSELLER AND BESTSELLER FUND TOPPED UP THE DONATION TO THE FULL AMOUNT OF DKK 3.5 MILLION.

Brande, Denmark, 2014-2-25 — /EPR Retail News/ — The money is distributed to each project according to votes received from BESTSELLER’s employees. 42 % voted for the project in China, while the projects in India and in Africa each received 29 % of the votes.

India
Following the cyclone Phailin, BESTSELLER FUND’s partner, Aktion Børnehjælp, is currently visiting the affected areas in the Orissa region to assess how we can help the thousands of victims that were left homeless.

China
On 18 February, BESTSELLER FUND participated in the official launch of a development project that will specifically improve the situation for children in the poor Hubei province. In the coming months, our partners and the villagers in Hubei will start to plan the establishment of activity centres.

Mozambique, Africa
The construction of the chicken houses for the African entrepreneurs is progressing as planned. The first team of enthusiastic agricultural entrepreneurs has been selected for the project. They will soon start to receive training and equipment to establish the first chicken production.

Read more about BESTSELLER FUND here.

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BESTSELLER’s employees donate to three humanitarian projects in India, China and Africa

BESTSELLER’s employees donate to three humanitarian projects in India, China and Africa

BESTSELLER FUND donates to help Syrian refugees in Lebanon

BESTSELLER FUND HAS SIGNED A CHEQUE OF DKK 2 MILLION TO HELP DANISH REFUGEE COUNCIL DELIVER EMERGENCY AID TO THOUSANDS OF SYRIAN REFUGEES LIVING IN LEBANON. 

Brande, Denmark, 2014-2-25 — /EPR Retail News/ — Emergency relief to Syrian refugees in Lebanon

BESTSELLER FUND’s donation will be earmarked to deliver emergency aid to thousands of Syrian refugees in Lebanon. The donation will cover ‘start-packages’ to Syrian families who have fled the war – and have arrived in Lebanon with very few personal items. They need help to start a new life. The start package will vary according to the families’ individual needs, but they may include:

• Mattresses and blankets
• Kitchen utensils (pots, pans, plates, cups and cutlery etc.)
• Baby/children’s accessories (diapers, lotions, soaps etc.)
• Women’s hygienic accessories (soaps, sanitary pads, cloth etc.)
• Food packages (meat, wheat, beans, oil, sugar, salt etc.)

Status on the refugee situation in Lebanon 
By January 2014, more than one million Syrian refugees have sought refuge in Lebanon. Approximately 350,000 people receive relief aid and support from the Danish Refugee Council every month. Danish Refugee Council has provided assistance to Syrian refugees in Lebanon since March 2011, when the conflict broke out. Lebanon is currently the organisation’s largest operational land.

Read more about BESTSELLER FUND at bestsellerfund.com

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BESTSELLER FUND donates to help Syrian refugees in Lebanon

BESTSELLER FUND donates to help Syrian refugees in Lebanon

 

FTC clears Bi-Lo Holdings acquisition of all stores in the Sweetbay, Harveys and Reid’s supermarket chains from Delhaize Group

JACKSONVILLE, Fla., 2014-2-25 — /EPR Retail News/ — Bi-Lo Holdings, LLC  and Delhaize Group (Euronext Brussels: DELB – NYSE: DEG) today announced they have received approval from the Federal Trade Commission (FTC) to proceed with the transaction in which Bi-Lo Holdings will acquire substantially all of the stores in the Sweetbay, Harveys and Reid’s supermarket chains from Delhaize.  Bi-Lo Holdings agreed to divest 12 Delhaize America stores in the states of Fla., Ga., and S.C., and Delhaize Group has agreed to retain two additional

stores and convert them to the Food Lion banner, pursuant to a consent order accepted by the FTC for public comment on February 25, 2014.  The order is subject to final approval by the FTC after the close of a 30-day comment period.

“We have been preparing for the integration of the Sweetbay, Harveys and Reid’s banners and store associates for many months and are delighted to now move forward and welcome them to the Bi-Lo Holdings family,” said R. Randall Onstead, president and CEO of Bi-Lo Holdings.

“We would like to thank the associates of Sweetbay, Harveys, and Reid´s for their outstanding accomplishments,” said Delhaize Group CEO Frans Mueller. “As we complete the transition process, we share our deepest appreciation for their many contributions and service to our customers during their tenure with our company.”

The 12 divested stores and their respective buyers, the two Delhaize America retained stores, and the anticipated transition dates for each store are as follows:

Store Location Buyer Banner *Deal Closing Dates
Sweetbay #1883 Arcadia, Fla. Rowe’s IGA X, LLC Rowe’s IGA March 22, 2014
Sweetbay #1791 Wauchula, Fla. Rowe’s IGA VIII, LLC Rowe’s IGA March 29, 2014
Sweetbay #1879 Lake Placid, Fla. Rowe’s IGA VII, LLC Rowe’s IGA April  5, 2014
Sweetbay #1795 Dunnellon, Fla. Rowe’s IGA IX, LLC Rowe’s IGA April 12, 2014
Harveys #2374 Statesboro, Ga. Homeland Food World May 3, 2014
Harveys #2375 Statesboro, Ga. Homeland Food World May 3, 2014
Harveys #2336 Vidalia, Ga. Homeland Food World May 3, 2014
Harveys #2378 Bainbridge, Ga. Food Giant
Supermarkets, Inc.
Food Giant May 10, 2014
Harveys #2379 Madison, Fla. Food Giant
Supermarkets, Inc.
Food Giant May 10, 2014
Harveys #2349 Waynesboro, Ga. W. Lee Flowers and Company, Inc. KJ’s Market IGA May 10, 2014
Harveys #2370 Sylvania, Ga. W. Lee Flowers and Company, Inc. KJ’s Market IGA May 17, 2014
Reid’s #442 Batesburg, S.C. W. Lee Flowers and Company, Inc. KJ’s Market IGA May 31, 2014
Reid’s  #2167 Hampton, S.C. Retained by Delhaize Group Food Lion N/A
Harveys #2398 Americus, Ga. Retained by Delhaize Group Food Lion N/A

*Sorted by buyer

In addition to the sale of the 12 store leases and related assets, the buyers of the 12 stores will provide each store employee the opportunity to interview for continued employment.

Bi-Lo Holdings and Delhaize Group anticipate that the acquisition of the Sweetbay, Harvey’s and Reid’s supermarkets will begin on March 22, 2014 and be complete on May 31, 2014, subject to the satisfaction of remaining closing conditions.

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Old Navy donated over $1M worth of new clothes to survivors of Typhoon Haiyan in Philippines

Donates more than $1 million worth of new clothes to survivors

SAN FRANCISCO, 2014-2-25 — /EPR Retail News/ — Old Navy announced today the donation of more than 100,000 articles of new clothing to the survivors of Typhoon Haiyan that hit the central and southern islands of the Philippines in November 2013.

“At Old Navy, we want to do more than sell clothes and we are committed to supporting the communities where we do business,” said Robert Frank, Executive Vice President, Old Navy International.

Old Navy is opening two new stores – its first ever franchise locations – in Metro Manila in March 2014 through franchise partner Stores Specialists, Inc. “It is indeed heartwarming to know of Old Navy’s plan to reach out to the victims of Typhoon Haiyan via the donation of clothing. We are grateful for their generosity and their desire to support the Philippine community in this way,” added Old Navy franchise partner Anthony Huang, Executive Vice President, Stores Specialist, Inc.

New clothing for the whole family – infants, children and adults – chosen for its suitability for the Philippines’ tropical climate is being shipped to the Philippines and will arrive in February.

Old Navy is partnering with International Relief and Development (IRD), a non-profit with staff that has been on the ground since the first days after the storm’s devastation. The clothing will be distributed directly to typhoon-affected families through IRD’s extensive local network of partner organizations and municipal government agencies.

In addition to Old Navy’s support, Gap Inc. employee donations to CARE to support relief efforts were matched by the company and totaled more than $95,000. The Gap Foundation gave a $65,000 grant to CARE to facilitate long-term recovery and resilience through shelter, infrastructure, and economic development.

“Our investments in communities affected by a disaster focus on long-term recovery and helping to address the needs of those impacted once widespread attention has passed,” said Bobbi Silten, President of Gap Foundation. “Our partnership with CARE to support survivors of Typhoon Haiyan will help rebuild communities and create long lasting change in the region.”

About Old Navy

Old Navy is a global apparel and accessories brand that makes current American fashion essentials accessible to every family. Originated in 1994, the brand has now grown to one of the largest apparel retailers in North America. A division of San Francisco-based Gap Inc. (NYSE: GPS), Old Navy brings a fun, energizing shopping environment to its customers in more than 1,000 stores in the U.S., Canada and Japan. For more information, please visit www.oldnavy.com.

About Gap Inc. 

Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix brands. Fiscal year 2012 net sales were $15.7 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,100 company-operated stores, over 300 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.