Posted on February 4, 2014 by EPR Retail News Editors

BRC-Google online retail monitor Q4 2013: serious increase in searches for UK retailers from key export markets

London, UK, 2014-2-4 — /EPR Retail News/ — Double and triple digit rises in searches for UK retailers from key export markets.

Helen Dickinson, Director General, British Retail Consortium, said: “The UK is the world’s second biggest online retail exporter, beaten only by the USA. These new BRC-Google figures show UK retailers are investing heavily in international online experiences, localised websites and faster delivery times to drive exports.

“We have taken a close look this quarter at four key export markets. We’ve seen huge increases in searches from all of the most important. There was a massive 231 per cent rise in German smartphone searches for UK brands and a 78 per cent surge in French tablet searches for UK retailers. These positive results were supported by big increases from the other key markets, the Netherlands and the United States. We also saw large increases in searches for department stores, 78 per cent up on smartphones and 46 per cent up on tablets, demonstrating the strength of these UK retailers.

“There were also very positive results from the Russian Federation and Argentina. We will be working hard to make sure that these good trends are not undermined by proposals in these countries for import taxes targeted against cross-border internet sales.”

Peter Fitzgerald, Retail Director, Google, said: “This Christmas mobile truly came into its own. Those retailers who invested in cross-device experiences – allowing their customers to easily find, buy and discover no matter where they are -reaped the rewards.

“Export continued to be a key driver of growth for our retailers this Christmas, particularly for our clothing and beauty brands. Phenomenal smartphone growth was seen across both emerging and established markets, with 231% growth in smartphone searches from Germany over Q4.

“Finally gadgets continued to be the gift of choice this year, with consoles, tablets & games leading the charge. On smartphones, wedding related searches trended”.

A full version of this report is available to BRC retail members, and subscribers to our Business Information Services.

Click here to contact the BRC regarding membership or a subscription to our Business Information Services.

Posted on February 4, 2014 by EPR Retail News Editors

GCH Retail (Malaysia) Sdn Bhd launched e-debit transaction service at all 128 stores nationwide

Shah Alam, Malaysia, 2014-2-4 — /EPR Retail News/ — GCH Retail (Malaysia) Sdn Bhd, which operates the Giant hypermarket chain, yesterday launched e-debit transaction service at all 128 stores nationwide to provide the convenience of cashless transactions to Malaysian shoppers, said its marketing director Ruben Brusch. It is the first hypermarket chain in Malaysia to offer customers the convenience by using automated teller machine (ATM) cards to pay for their purchases. Brusch said besides eliminating the risk and costs arising from handling cash, it also lowered the cost of doing business as the merchant discount rate for ATM/debit cards was at 40% lower than international branded debit and credit cards. “This is especially important for a low cost retailer like us, as we are constantly looking

for ways to reduce costs so that we can pass on the savings to our customers in the form of lower prices,” he said. Meanwhile, Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear) managing director Peter Schiesser said ATM payments have registered a tremendous annual growth of 26% with approximately 5.2 million point-of-sale ATM transactions valued at RM2.4 billion registered in 2013. “As of October 2013, there were 41 million debit cards in the country and almost everybody carried an ATM card with them,” he said. Giant is organising a three-month campaign to encourage customers to use ATM cards with 12 participating banks including Affin Bank, Alliance Bank, Agro Bank, Malayan Banking, CIMB Bank and RHB Bank. — Bernama

Giant Malaysia
Giant pioneered the concept of modern supermarket shopping – buying everyday groceries, fresh produce and fresh foods under one roof and in a hygienic environment. As the pioneer, Giant sets the pace and standards for the industry with innovative marketing, store design and product pricing and variety.

###

GCH Retail (Malaysia) Sdn Bhd launched e-debit transaction service at all 128 stores nationwide

Posted on February 4, 2014 by EPR Retail News Editors

Kesko Corporation to acquire the company’s own B shares

Helsinki, Finland, 2014-2-4 — /EPR Retail News/ — Kesko Corporation’s shareholders jointly representing over 10% of the votes carried by the company shares have made a proposal to the Annual General Meeting to be held on 7 April 2014 for the number of Board members, their remuneration and the reimbursement of their expenses.

Proposal for the number of Board members

Kesko Corporation’s shareholders jointly holding over 10% of the votes carried by the company shares have proposed that the company’s Annual General Meeting resolve that the number of members of the Board be left unchanged at the present seven (7).

Proposal for the Board members’ remuneration and the basis for reimbursement of their expenses

In addition, the shareholders in question propose that the Board members’ remuneration and the basis for reimbursement of their expenses be left unchanged. The fees and the basis for reimbursement of expenses are as follows:

– the Board Chair, an annual remuneration of €80,000,
– the Board Deputy Chair, an annual remuneration of €50,000,
– a Board member, an annual remuneration of €37,000,
– a meeting fee of €500/meeting for a Board meeting and its Committee’s meeting, and a meeting fee of €1,000/meeting to a Committee Chair who is not the Chair or the Deputy Chair of the Board,
– daily allowances are paid and travel expenses are reimbursed to the Board members in accordance with the general travel rules of Kesko.

The above proposals will be included in the notice of the General Meeting, which will be published separately.

The Annual General Meetings held on 16 April 2012 and 8 April 2013 resolved the number of Board members to be seven (7), and the Annual General Meeting Held on 16 April 2012 elected seven (7) Board members for terms of office expiring at the close of the 2015 Annual General Meeting in accordance with the Articles of Association. The Board members elected then were Mr Esa Kiiskinen, Mr Ilpo Kokkila, Mr Tomi Korpisaari, Ms Maarit Näkyvä, Mr Seppo Paatelainen, Mr Toni Pokela and Ms Virpi Tuunainen.

Further information is available from Senior Vice President, Group General Counsel Anne Leppälä-Nilsson, tel. +358 105 322 347.

Kesko Corporation

Merja Haverinen
Vice President, Group Communications

DISTRIBUTION
NASDAQ OMX Helsinki
Main news media
www.kesko.fi

Posted on February 4, 2014 by EPR Retail News Editors

Kesko’s board to propose €1.40 per share dividend for 2013 to the Annual General Meeting

Helsinki, Finland, 2014-2-4 — /EPR Retail News/ — Kesko Corporation’s Board has decided to propose to the Annual General Meeting to be convened for 7 April 2014 that the dividend payable for the year 2013 be €1.40 per share. The Board’s Audit Committee proposes that the firm of auditors PricewaterhouseCoopers Oy, Authorised Public Accountants, be elected as the auditor of the company.

Kesko Corporation’s shareholders are invited to the Annual General Meeting to be held in Messukeskus Helsinki, Conference Centre, Messuaukio 1, Helsinki, on Monday, 7 April 2014, starting at 13.00. In addition to the business specified for the Annual General Meeting in Article 10 of the Articles of Association, the following proposals of the Board and its Audit Committee will be handled by the Meeting:

Distributions of profits

The Board proposes that a dividend of €1.40 per share be paid for the year 2013 on the basis of the adopted balance sheet. The dividend would be paid to shareholders registered in the company’s register of shareholders kept by Euroclear Finland Ltd on the record date for the payment of dividend, 10 April 2014. No dividend is paid on own shares held as treasury shares by the company on the record date for the payment of dividend. The Board proposes that the dividend pay date be 17 April 2014.

Auditor, auditor’s fee and basis for reimbursement of expenses

The Board’s Audit Committee proposes that the firm of auditors PricewaterhouseCoopers Oy, Authorised Public Accountants be elected as the company’s auditor. If the said company is elected as auditor, PricewaterhouseCoopers Oy has announced that APA Johan Kronberg shall be the auditor with principal responsibility. The Board’s Audit Committee proposes that the auditor’s fee and expenses be reimbursed according to invoice approved by the company.

Donations for charitable purposes

The Board proposes that that it be authorised to decide on the donations in a total maximum of €300,000 for charitable or corresponding purposes until the Annual General Meeting to be held in 2015, and to decide on the donation recipients, purposes of use and other terms of the donations.

Available documents

The proposals of the Board and its Audit Committee are available on the company’s website at www.kesko.fi/sijoittajat. Financial statements documents will be made available for shareholders on the company’s website on week 10. Copies of the documents will be sent to shareholders on request. They will also be available at the General Meeting.

Notice of General Meeting

The notice of the General Meeting will be published separately at a later date on the company’s website and as a stock exchange release.

Further information is available from Senior Vice President, Group General Counsel Anne Leppälä-Nilsson, tel. +358 105 322 347.

Kesko Corporation

Merja Haverinen
Vice President, Group Communications

DISTRIBUTION
NASDAQ OMX Helsinki
Main news media
www.kesko.fi

###

Posted on February 4, 2014 by EPR Retail News Editors

Sainsbury’s introduced its new new Spring/Summer ‘14 homeware range

London, UK, 2014-2-4 — /EPR Retail News/ — With the prospect of longer, sunnier days, refreshing and renewing your home interior can really get you in the mood for Spring. And what better way to welcome in the new season than by revitalising your interior with the new Spring/Summer ’14 homeware range by Sainsbury’s.

Displayed in store by trend, helping you envisage how your room might look, the quality accessories, dinnerwares and bed linens boast pieces inspired by Botanical Gardens, English Vintage, Refined Rustic, Boho Chic and Memory Lane.

Enthused by nature, the Botanical Gardens range is a varied palette of greens featuring butterfly and floral prints, while the bohemian Boho Chic style will add a laid back stylish sparkle to your home. The nostalgic English Vintage range, with pink and purple floral patterns, is perfect for a traditional country feel and the pared back Refined Rustic collection adds a natural earthy colour and texture to any home-style.

Ensuring Sainsbury’s is a great value one-stop-shop for invigorating any home, the new collections will provide inspiration for every stylish interior taste.

Available in store now, the new Spring/Summer ’14 range includes pieces from £3 so be sure to pop in and take a look as you rejuvenate your home.

###

Posted on February 4, 2014 by EPR Retail News Editors

Carrefour’s franchise partner The Majid Al Futtaim Group opened two new stores

Paris, France, 2014-2-4 — /EPR Retail News/ — The Majid Al Futtaim Group – our franchise partner – opened two new stores.

United Arab Emirates – Al Seef Carrefour Market store opens in Abu Dhabi

On 23 January 2014, the Majid Al Futtaim Group – our franchise partner – opened its 25th Carrefour Market supermarket in the United Arab Emirates, in the city of Abu Dhabi.

The “Al Seef” has a sales area of 1100 sq.m. and is part of a shopping centre which has 30 stores and a car park with space for 350 cars.

Saudi Arabia – Yasmine Carrefour Market opens

On 20 January 2014, the Majid Al Futtaim Group – our franchise partner – opened its 3rd Carrefour Market supermarket in Saudi Arabia, in the city of Ryiadh.

The “Yasmine Carrefour Market” has a sales area of 764 sq.m.

The Majid Al Futtaim Group currently runs 117 stores – 60 Carrefour hypermarkets, 56 Carrefour Markets and one web store, in 14 different countries.

###

Carrefour’s franchise partner The Majid Al Futtaim Group opened two new stores

Posted on February 4, 2014 by EPR Retail News Editors

National Retail Federation calls for coordinated and comprehensive response to recent criminal cyberattacks

Retailers Commit to Collaborative Approach to Reduce Fraud Calls for Coordinated and Comprehensive Response to Recent Cyber Thefts

Washington, DC, US, 2014-2-4 — /EPR Retail News/ — The National Retail Federation today urged Congress to take a comprehensive approach as it contemplates a national response to criminal cyberattacks in which millions of consumers’ credit and debit card numbers were stolen. NRF said retailers are willing to do their part to improve security, but that banks and card companies must also take major steps to shore up the current fraud-prone payments system.

“When a criminal breach occurs in the payments system, all of the businesses that participate in that system and their shared customers are victimized,” NRF Senior Vice President and General Counsel Mallory Duncan said. “Rather than resort to blame and shame, the parties should work together to ensure that the data breach is remedied and steps are taken to prevent and mitigate future breaches.”

“Retailers take the increasing incidence of payment card fraud very seriously,” Duncan said. “We have every reason to want to see fraud reduced, but we have only a portion of the ability to make that happen. We did not design the [payments] system, we do not configure the cards and we do not issue the cards. We will work to effectively upgrade the system, but we cannot do it alone.”

Duncan is scheduled to testify this afternoon before a hearing on data security being held by a subcommittee of the Senate Banking, Housing and Urban Affairs Committee. In testimony prepared for delivery at the hearing, Duncan said the United States is under constant criminal attack from sophisticated cybercriminals – largely located overseas – who target financial institutions, manufacturers, public utilities, and other businesses, not just retailers.

“This is a continuous battle against determined fraudsters,” he said. “Every party in the payment system, financial institutions, networks, processors, retailers and consumers, has a role to play in reducing fraud.”

In the short term, Duncan said the banking industry needs to replace current cards that store consumer data on 1960s-era magnetic strips, and have users sign their name with modern cards that encrypt data on an embedded microchip and require use of a secret Personal Identification Number, or PIN. Instead, banks and card companies have pushed so-called EMV – Europay, MasterCard and Visa – proprietary cards that use a chip but remain open to fraud by allowing the use of a signature. Duncan said replacement of easily forged signatures with a PIN and Chip card is essential to security.

In his testimony, Duncan urged the United States to look beyond the Payment Card Industry’s (PCI) security standards and proposed EMV cards, and embrace a more secure and technologically-advanced payments system that is as innovative as it is competitive. In the longer term, Duncan said further improvements, such as point-to-point encryption of data, “tokenization” of transactions and mobile payments offer potential solutions to better protect consumers.

Duncan also urged Congress to pass the Cyber Intelligence Sharing and Protection Act, which would make it easier for the commercial sector to share information about cyberthreats and ensure that cybercrimes are thoroughly investigated and prosecuted. He said NRF also wants Congress to replace the varying data breach notification laws currently on the books in 46 states and the District of Columbia with a single, uniform nationwide standard and bolster law enforcement agencies’ abilities to combat cyberattacks.

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.

###

Posted on February 4, 2014 by EPR Retail News Editors

National Retail Federation released its 2014 Valentine’s Day spending survey conducted by Prosper Insights and Analytics

Washington, DC, US, 2014-2-4 — /EPR Retail News/ — On the heels of a healthy yet modest holiday shopping season, cautious consumers aren’t quite ready to splurge on Valentine’s Day this year, continuing to keep their budgets in check. According to the National Retail Federation’s 2014 Valentine’s Day spending survey conducted by Prosper Insights and Analytics, 54 percent of Americans will celebrate with their loved ones this year, compared to 60 percent in 2013. The average person plans to spend $133.91 on candy, cards, gifts, dinner and more, up slightly from $130.97 last year. Total spending is expected to reach $17.3 billion.*

“Valentine’s Day will continue to be a popular gift-giving event, even when consumers are frugal with their budgets. This is the one day of the year when millions find a way to show their loved ones they care,” said NRF President and CEO Matthew Shay. “Consumers can expect Cupid’s holiday to resemble the promotional holiday season we saw just a few months ago, as retailers recognize that their customers are still looking for the biggest bang for their buck.”

Gift-givers will find the perfect gift for their loved ones that fits their budget, whether it’s candy, flowers, jewelry, clothing, an evening out or simply a greeting card. Nearly half (48.7%) will buy candy, a third will give flowers (37.3%) and over half (51.2%) will send greeting cards. Nineteen percent will treat their significant other to something sparkly – jewelry spending will total $3.9 billion, and 37 percent will celebrate with an evening out, spending an estimated total of $3.5 billion. Others will give more practical gifts like clothing (15.8%) or gift cards (14%) so their loved ones can have that item they’ve been eyeing in the store.

Men will spend $108.38 on gifts for their significant others – twice as much as women who will spend $49.41 on their special someone. But Valentine’s Day isn’t just for couples; people will show their appreciation for family members (59.4%) friends (21.7%) teachers (20.4%) and colleagues (12.1%). And like every holiday, Americans won’t forget about their pets.19.4 percent will buy gifts for their furry friends, spending an average of $5.51.

“While fewer are planning to celebrate Valentine’s Day this year, millions of shoppers will still make room in their discretionary budgets to send cards and gifts to loved ones or enjoy a special evening out,” says Prosper Insights and Analytics Director Pam Goodfellow. “Consumers can expect promotions on everything from flowers to date night dinner packages in the coming days, leaving plenty of ideas for those looking to spoil their Valentines.”

Cautious consumers do their research when it comes to shopping, and many will purchase gifts online. The survey found that 26.1% plan to shop online this Valentine’s Day, flat with last year’s 26.3%. Many will turn to their tablets or smartphones before making their final gift decisions; 24 percent will research products or compare prices on their smartphones and 32.2 percent will do so on their tablets.

About the Survey
The NRF’s 2014 Valentine’s Day spending survey was designed to gauge consumer behavior and shopping trends related to Valentine’s Day. The survey was conducted for NRF by Prosper Insights & Analytics. The poll of 6,417 consumers was conducted from January 2-13, 2014 and has a margin of error of plus or minus 1.2 percentage points.

Prosper Insights and Analytics delivers executives timely, consumer-centric insights from multiple sources. As a comprehensive resource of information, Prosper represents the voice of the consumer and provides knowledge to marketers regarding consumer views on the economy, personal finance, retail, lifestyle, media and domestic and world issues. www.ProsperDiscovery.com

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 Retailcampaign 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.

###

* Total extrapolation of US population 18+

Posted on February 4, 2014 by EPR Retail News Editors

New program at Hy-Vee informs customers which seafood comes from environmentally responsible sources

New program will inform customers about Hy-Vee’s high quality seafood that comes from environmentally responsible sources

West Des Moines, IA, US, 2014-2-4 — /EPR Retail News/ — Responsible Choice – two simple words that now bring a volume of information to Hy-Vee seafood customers. Starting today, Hy-Vee shoppers will see the blue and green Responsible Choice logos on select products in the seafood case. The Responsible Choice education program is part of Hy-Vee’s ambitious Seafood Procurement Policy that provides customers high quality seafood acquired through responsible methods and in accordance with the highest environmental standards in the food industry.

“The Responsible Choice logo serves as a seal of approval that more and more of our seafood is responsibly harvested or raised, minimizing damage to the environment and other sea life,” said Hy-Vee’s Nate Stewart, Vice President of Perishables. “Responsible Choice assures our customers that their seafood is of the highest quality and that Hy-Vee is committed to the global environment.”

Hy-Vee offers a diverse seafood selection to its Midwest customers and is dedicated to maintaining these high standards as the company implements the expanded seafood policy. To protect marine resources and ensure future seafood supplies, Hy-Vee has committed to sell responsibly sourced fresh and frozen seafood that is rated Green or Yellow by the Monterey Bay Aquarium’s Seafood Watch program, certified to an environmental standard equivalent to these ratings, or is sourced from credible, time-bound improvement processes by the end of 2015.

Hy-Vee’s Responsible Seafood Commitment and its comprehensive Procurement Policy were developed in partnership with FishWise – a non-profit organization focused on supporting sustainability through environmentally responsible business practices.

###

Posted on February 4, 2014 by EPR Retail News Editors

Marks & Spencer and Oxfam joint campaign ‘Love, Mum’ to raise money for mothers in living poverty around the world

Joanna Lumley, Abbey Clancy and Zoe Ball launch a new initiative from Marks & Spencer and Oxfam to raise money for mothers living in poverty around the world.

London, UK, 2014-2-4 — /EPR Retail News/ — CELEBRITY MUMS Joanna Lumley, Abbey Clancy and Zoe Ball today joined forces to launch ‘Love, Mum’, a new joint campaign from Marks & Spencer (M&S) and Oxfam to raise money for mothers in living poverty around the world.

‘Love, Mum’, part of the retailer’s ongoing Shwopping campaign, is calling on the nation to shwop – not bin – unwanted childrenswear items, of any brand, to M&S stores nationwide in the run up to Mother’s Day.

With three in five (56%) parents previously admitting to throwing baby clothes in the bin, there are millions of children’s clothing ending up in landfill that could be given a new life through Shwopping. *

All the money raised from items shwopped before 31 March 2014 will go to Oxfam’s Mother Appeal, helping mothers around the world lift themselves and their families out of poverty for good. Thanks to the UK government, every pound raised from the items will be doubled. **

Joanna Lumley said of her support for the campaign:
“It is a strange but true fact that the smaller the human being, the more clothes they inevitably need. Our children grow so quick that the clothing we bought a week ago, are often too small to be worn again. Yet, we are often guilty of throwing these away or holding onto them as they hold emotional memories for us as new mums.

“Through Shwopping we can now help mums that we may never meet, but through that old babygrow that will never be worn again, we can be connected through our memories and our goodwill. No clothing, no matter how small, should end up in landfill and harm the environment. Dig deep into the back of the wardrobe, get that box from the cellar and shwop them… your small donation will have a huge impact on someone’s life.”

28-year-old model and mum to two-year-old Sophia, Abbey Clancy said:
“It’s great that Oxfam is celebrating mothers around the world as mum’s really are amazing. Supporting Oxfam’s Mother Appeal is easy, you can donate unwanted goods to Oxfam shops, Shwop clothes in M&S, hold a fundraising event with friends, or simply donate money via Oxfam’s website and you’ll be helping mothers worldwide change their future. What’s more every donation to the appeal will be matched by the UK government, which is just brilliant!”

Mum of two, DJ and TV Presenter, Zoe Ball added:
“Being a Mum is the best job in the world and a role I cherish with all my heart – but for many mums around the world it is also the toughest job, fighting everyday to find enough food to feed your little ones, trying to keep them healthy often without access to even basic healthcare and worrying about their future without a guarantee of education for them or facing challenging political situations.

“So, we’re calling on all mums & grandmas out there to do a little bit to help other mums around the world less fortunate than ourselves simply by taking your bags of used or unwanted clothes to Marks & Spencer stores nationwide and Shwopping them to raise money for Oxfam’s Mother Appeal. What’s more, thanks to the UK government, all the money (up to £5 million) raised from the items during the appeal will be doubled.”

Since its launch in April 2012, Oxfam has received 6.9 million items of clothing thanks to Shwopping, worth £4.5 million for the charity. All money raised by Shwopping is used to support Oxfam’s projects around the world working to alleviate poverty.

Marks & Spencer and Oxfam’s Love, Mum campaign is calling on the nation to shwop their unwanted kidswear items to raise money for mothers living in poverty around the world. For more information visitwww.marksandspencer.com/shwopping.

For more information on Oxfam’s Mother Appeal visit www.oxfam.org.uk/Mother-Appeal.

– ENDS –
Contact:

For further information / interviews / images

Andrew Soar    andrew.soar@hellounity.com       020 7440 9826
Jessica Becker  Jessica@hellounity.com               020 7440 9834
Rachael Martin  rachael@hellounity.com              020 7440 9820
For further information on Marks & Spencer:

Daniel Himsworth daniel.himsworth@marks-and-spencer.com 020 8718 1618
Liz Williams liz.williams@marks-and-spencer.com 020 8718 6369

NOTES TO EDITORS

Shwopping is Marks & Spencer’s revolutionary clothes recycling initiative where customers can donate any item of clothing, of any brand, to be re-used, resold or recycled by charity partner Oxfam. Launched by Plan A ambassador Joanna Lumley, M&S believes Shwopping can revolutionise clothes shopping by asking consumers to adopt a ‘buy one, give one’ mentality and encourage greater sustainability on the high street.
The campaign aims to put an end to the one billion items currently ending up in landfill every year. All M&S clothing stores now accept used and unwanted items of clothing from any brand, all year round. The ultimate aim for M&S is to collect 350 million items a year – recycling as many clothes as it sells.
Plan A is Marks & Spencer’s eco and ethical programme that aims to make M&S the world’s most sustainable major retailer by 2015. Launched in 2007 and extended in March 2010, it takes an holistic approach to sustainability focusing on involving customers, engaging all areas of the business and tackling issues such as climate change, waste, raw materials, health and being a fair partner.
Oxfam is a global humanitarian, development and campaigning organisation working with others to overcome poverty. Oxfam is working in nearly 60 countries on a diverse range of projects, from providing emergency water sources to supporting community health projects. Oxfam has just under 700 high street shops across the UK and Ireland and is one of the only major charity retailer to operate a textile sorting facility, Wastesaver.
Oxfam’s Mother Appeal celebrates mums around the world and aims to help mothers worldwide lift themselves and their families out of poverty for good. The appeal, which runs until the end of March, hopes to raise over £10 million for Oxfam’s vital work and, thanks to the UK government, every pound raised will be doubled (up to a total value raised of £5 million).*

There are lots of ways to get involved and support the appeal, whether it’s donating unwanted goods to Oxfam shops; Shwopping used or unwanted clothes in Marks & Spencer stores; holding a fundraising get together with friends and colleagues; or simply donating money via Oxfam’s website. www.oxfam.org.uk/Mother-Appeal

* Commissioned by Marks & Spencer, the survey was conducted online by OnePoll from the 25th to 27th September 2012, where a total of 1,000 UK mothers (with children between the age of one and five) were polled.

** The UK government will match the value of everything you donate to the Mother Appeal, doubling the difference you’re making. Matched funding is up to a maximum total value raised of £5 million. It covers:

Fundraising events taking place between 31 December and 31 March 2014 and money paid in by 31 May 2014
The value of items shwopped or donated to the appeal between 31 December 2013 and 31 March 2014 and sold before 30 April 2014 in participating Oxfam and M&S stores in England, Scotland and Wales
Cash donations between 31 December 2013 to 31 March 2014

Posted on February 4, 2014 by EPR Retail News Editors

Target CFO and Executive VP John Mulligan: Time for chip-enabled smartcards

Minneapolis, MN, US, 2014-2-4 — /EPR Retail News/ — The data breach that struck our company spotlighted the sophistication of criminal hacker networks operating across the globe. We know the attack created significant concerns for millions of customers. We will learn from this incident and we will work to make Target, and the wider business community, more secure in the future.

One step American businesses could now take that would dramatically improve the security of all credit and debit cards: adoption of chip-enabled smartcards.

The technology is already widely used throughout the world. For many reasons, the United States has been slow to embrace the technology at home. We need to change.

At Target, we’ve been working for years towards adoption of this technology. Since the breach, we are accelerating our own $100 million investment to put chip-enabled technology in place. Our goal: implement this technology in our stores and on our proprietary REDcards by early 2015, more than six months ahead of our previous plan.

Nothing is more important to Target than our customers. We are who we are because of their trust and loyalty. That is why it is so important to move forward with a more secure technology.

For consumers, this technology differs in important ways from what is widely used in the United States today. The standard credit and debit cards we use now have a magnetic stripe containing the customer’s information. When first introduced, that stripe was an innovation. But in today’s world, more is needed.

Chip-enabled smart cards contain a tiny microprocessor chip that encrypts transaction data shared with sales terminals used by merchants. As a result, even if the card number is stolen in a data breach, the thieves cannot counterfeit the card.

In addition, requiring the use of a four-digit personal identification number (PIN) to complete a sales transaction would provide even greater safety.To be frank, there is no consensus across the business community on the use of PINs in conjunction with chip-enabled cards. But Target supports the goal and will work toward adoption of the practice in our own stores and more widely.

Target is also investing in solutions that will make mobile transactions more secure, we hope in the near future. And we know work is needed to strengthen protections for e-commerce, an important long-term goal. In the meantime, adopting chip-enabled cards would be a clear step in the right direction.

In the United Kingdom, where smart card technology is widely used, financial losses associated with lost or stolen cards are at their lowest levels since 1999 and have fallen by 67 percent since 2004, according to industry estimates. In Canada, where Target and others have adopted smart cards, losses from card skimming were reduced by 72 percent from 2008 to 2012, according to industry estimates.

A reason the United States has been slow to embrace change is that all players in the payments system – merchants, issuers, banks and the networks – have not been able to find common ground on how to share the costs of implementation.

About 10 years ago, Target piloted an early generation of the chip-enabled technology on the Target VISA REDcard, with mixed results. Notably, the cards were much more expensive to produce and required the replacement of store card-readers. Also, the technology at that time would have only been usable in our stores, making for a confusing experience for customers, overall. After three years of going it alone, we discontinued the program.

The reported attacks on Target and Neiman Marcus underline the need to do more. If we truly want to prevent this from happening again, the business community must move together. No one company or industry can solve this challenge on its own. Strengthening consumer protection requires a coordinated response. This is a shared responsibility.

At Target, we know we have work to do. For years, we made significant investments in security. We had multiple layers of protection in place. But we still came under attack by sophisticated, global criminals. We will do everything we can to further strengthen Target’s systems. We will meet our accelerated goal for getting chip-enabled technology in place in our own stores. We will invest in protections for mobile transactions and investigate e-commerce solutions. And we hope the rest of the business community will join us in that effort.

Mulligan is chief financial officer and executive vice president for Target.

###

John Mulligan

Posted on February 4, 2014 by EPR Retail News Editors

Target accelerates smart card technology implementation to dramatically reduce the threat of credit and debit card fraud

Minneapolis, MN, US, 2014-2-4 — /EPR Retail News/ — Target Chief Financial Officer John Mulligan, in testimony before the Senate Committee on the Judiciary in Washington, D.C., announced today that the company will be accelerating its implementation of smart card technology designed to dramatically reduce the threat of credit and debit card fraud among guests shopping in its stores.

Mulligan appeared on behalf of Target to discuss the company’s response to the data breach, its efforts to protect its guests and its continued support of industry initiatives to strengthen data security.

During his testimony, Mulligan said Target will equip its proprietary REDcards and all of its store card readers in the U.S. with chip-enabled smart-card technology by the first quarter of 2015, more than six months ahead of previous plans. The accelerated timing is part of a $100 million effort to put in place chip-enabled technology in all of Target’s nearly 1,800 U.S. stores.

“Updating payment card technology and strengthening protections for American consumers is a shared responsibility and requires a collective and coordinated response. On behalf of Target, I am committing that we will be an active part of that solution,” Mulligan said.

In 2012, Target became a founding and steering committee member of the EMV Migration Forum at the Smart Card Alliance, a cross-industry body whose goal is to facilitate the adoption and use of smart card technology.

In Tuesday’s hearing, Mulligan committed to working with the business community and other stakeholders to find effective solutions to the ongoing, pervasive challenge of cyber attacks. “To prevent this from happening, none of us can go it alone,” Mulligan said.

Chip-enabled smart cards contain a tiny microprocessor chip that encrypts the transaction data shared with sales terminals used by merchants. As a result, even if the card number is stolen in a data breach, the thieves cannot counterfeit the card. Similar technology already in use in the United Kingdom, Canada and Australia has drastically reduced the incidence of fraud for consumers at physical store locations.

“At Target, we take our responsibilities to our guests very seriously, and this attack has only strengthened our resolve,” Mulligan said in his testimony. “We will learn from this incident and, as a result, we hope to make Target and our industry more secure for consumers in the future.”

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, visittarget.com/corporateresponsibility.

For more information, visit Target.com/Pressroom.

###

Posted on February 4, 2014 by EPR Retail News Editors

Russia’s largest retailer OJSC “Magnit” announced the results of its BOD meeting

Krasnodar, Russia, 2014-2-4 — /EPR Retail News/ — OJSC “Magnit”, Russia’s largest retailer (the “Company”, “Issuer”; MICEX and LSE: MGNT), is pleased to announce the results of the BOD meeting held on February 4, 2014.

Please be informed that on February 4, 2014 the BOD meeting was held (minutes of the BOD meeting of OJSC “Magnit” are w/o No. of February 4, 2014).

The meeting agenda:
1. Consideration of proposals for the nomination of candidates to stand for election to the board of directors, the revision commission and the counting commission of OJSC “Magnit” at the annual general shareholders meeting of OJSC “Magnit”.
2. Consideration of proposals for the nomination of candidates to stand for election as the auditor of OJSC “Magnit” at the annual general shareholders meeting of OJSC “Magnit”.
3. Approval of the related party transactions.
4. Determination of OJSC “Magnit” business priorities.
5. Determination of the position of the OJSC “Magnit” representative at the exercise of the voting right on the Retail Import LLC shares in the charter capital owned by the Company.

The following BOD members were present: A. Arutyunyan, S. Galitskiy, K. Pombukhchan and A. Shkhachemukov.
V. Butenko, A. Zayonts and A. Makhnev provided their written opinions on the items of the agenda of the BOD meeting of OJSC “Magnit”.
The number of the BOD members participated in the meeting, including written opinions of V. Butenko, A. Zayonts and A. Makhnev amounts to not less than half of the number of the BOD members determined by the Charter of the Company.
Quorum to hold the BOD meeting with this agenda is present.

Content of the decisions and voting results:

Item 1.1 on the agenda:
“To include the following candidates on the list of candidates for voting at the election of the Board of directors of OJSC “Magnit” at the annual general shareholders meeting of OJSC “Magnit” convened following the close of the 2013 financial year:

Names of candidates	Nationality	Date of birth	Passport details
Alexander Zayonts	Russian Federation	10.01.1967	Information is disclosed according to the Federal law “On Personal Data”
Alexey Makhnev	Russian Federation	24.05.1976	Information is disclosed according to the Federal law “On Personal Data”

Votes were cast as follows:

A. Arutyunyan – “for”, V. Butenko – “for”, S. Galitskiy – “for”, A. Zayonts – “for”, A. Makhnev – “for”, K. Pombukhchan – “for”, A. Shkhachemukov – “for”.
The decision was made.
Item 1.2 on the agenda:
“To include the following candidates on the list of candidates for voting at the election of the Board of directors of OJSC “Magnit” at the annual general shareholders meeting of OJSC “Magnit” convened following the close of the 2013 financial year:

Names of candidates	Nationality	Date of birth	Passport details
Valeriy Butenko	Russian Federation	25.11.1965	Information is disclosed according to the Federal law “On Personal Data”
Aslan Shkhachemukov	Russian Federation	22.08.1962	Information is disclosed according to the Federal law “On Personal Data”
Khachatur Pombukhchan	Russian Federation	16.03.1974	Information is disclosed according to the Federal law “On Personal Data”

Votes were cast as follows:
A. Arutyunyan – “for”, V. Butenko – “for”, S. Galitskiy – “for”, A. Zayonts – “for”, A. Makhnev – “for”, K. Pombukhchan – “for”, A. Shkhachemukov – “for”.
The decision was made.

Item 1.3 on the agenda:
“To include the following candidates on the list of candidates for voting at the election of the Board of directors of OJSC “Magnit” at the annual general shareholders meeting of OJSC “Magnit” convened following the close of the 2013 financial year:

Names of candidates	Nationality	Date of birth	Passport details
Andrey Arutyunyan	Russian Federation	12.01.1969	Information is disclosed according to the Federal law “On Personal Data”
Sergey Galitskiy	Russian Federation	14.08.1967	Information is disclosed according to the Federal law “On Personal Data”

Item 2.1 on the agenda:
“To include the following candidate on the list of candidates for voting at the election of the auditor of OJSC “Magnit” in accordance with the Russian accounting standards at the annual general shareholders meeting of OJSC “Magnit” convened following the close of the 2013 financial year:

Full company name of the candidate: “Faber Leks” Audit Limited Liability Company; State registration data: Principal State Registration Number of the issuer 1022301213197, Taxpayer Id. Number 2308052975;
Location: 144/2 Krasnykh Partizan street, Krasnodar, 350049, Krasnodar region;
Contact numbers: (861) 220-03-20, 226-41-41;
Information on membership in the self-regulatory organization of auditors: certificate as of 15.02.2010 of membership in the Non-commercial partnership “The Moscow Audit Chamber” (Order of the Ministry of Finance of the Russian Federation № 578 as of 26.11.2009 on entering data on the Non-commercial partnership “The Moscow Audit Chamber” into the state register of the self-regulatory organization of auditors), Principal Number of Registration Entry 10203002910.”

Item 2.2 on the agenda:
“To include the following candidate on the list of candidates for voting at the election of the auditor of OJSC “Magnit” in accordance with IFRS at the annual general shareholders meeting of OJSC “Magnit” convened following the close of the 2013 financial year:

Full company name of the candidate: “Ernst & Young” Limited Liability Company; State registration data: Principal State Registration Number of the issuer 1027739707203, Taxpayer Id. Number 7709383532;
Location: bld. 1, 77 Sadovnicheskaya embankment, Moscow, 115035;
Contact numbers: 7 495 755 9700, 7 495 755 9701;
Information on membership in the self-regulatory organization of auditors: certificate № 3028 of membership in the Self-regulatory organization of auditors Non-commercial partnership “Audit Chamber of Russia” (Order of the Ministry of Finance of the Russian Federation № 455 as of 01.10.2009 on entering data on the Non-commercial partnership “Audit Chamber of Russia” into the state register of the self-regulatory organization of auditors), Principal Number of Registration Entry 10201017420.”

Item 3 on the agenda:
“To approve the guarantee agreements which the Company (hereinafter – Guarantee) plans to execute in future as security for obligation of Joint-stock company “Tander” (beneficiary) (hereinafter – Borrower) to Joint-stock commercial bank “ROSBANK” (open joint-stock company) (hereinafter – Lender) under the additional agreements to the Bank account agreement №0249018/RUB as of 25.10.2007 (hereinafter – Agreement) which are the related party transactions with the following essentials: Maximum credit amount (credit limit): 175,000,000 (one hundred and seventy-five million) rubles. Deadline of indebtedness continuity (payment period of each overdraft credit): 30 (thirty) calendar days.

Term of validity of the Agreement: not more than 1 (one) year.
Credit interest rate in ruble terms: the Borrower pays interest to the Bank in the amount of MosPrime OverNight rate increased by the Bank Margin (1.8% (one point eight) percent per annum). Interest rate (including the Bank margin) cannot exceed 12 (twelve) percent per annum (“Maximum interest rate”). Credit terms, procedure of credit providing and redemption of credit amounts, interest and other payments are determined by the corresponding Agreement. Limit price (amount) of the guarantee agreement: total amount of the Guarantee obligations under the Agreement cannot exceed 371,000,000 (three hundred seventy-one million) rubles. In case of non-fulfillment of Requirements by the Guarantee, the Guarantee shall pay a penalty to the Lender within 5 (five) bank days in the amount of 3% (three percent) of the amount of the corresponding Requirement. The price of the property to the possible disposal of which the transaction is related shall not exceed 2% of the balance sheet assets value of the company determined on the basis of the accounting statement for the last reporting date.”

Votes were cast as follows:
A. Arutyunyan – “did not participate in voting”, V. Butenko – “for”, S. Galitskiy – “did not participate in voting”, A. Zayonts – “for”, A. Makhnev – “for”, K. Pombukhchan – “for”, A. Shkhachemukov – “for”.
The decision was made.

Item 4 on the agenda:
“To determine OJSC “Magnit” business priorities by means of ratification of the Plans of financial and economic activity of the Company for:
– the year 2014 (annex №1 to the minutes of the BOD meeting),
– the first quarter of 2014 (annex №2 to the minutes of the BOD meeting).”

Item 5 on the agenda:
“To revoke the decision of the Board of directors of OJSC “Magnit” made on December 26, 2013 on the item 2 on the agenda: “Determination of the position of the OJSC “Magnit” representative at the exercise of the voting right on the Retail Import LLC shares in the charter capital owned by the Company” (minutes w/o No. of December 26, 2013) and to recommend the sole executive body of OJSC “Magnit”, which is the sole shareholder of Retail Import LLC, to make the following decision at the realization of the voting right on the Retail Import LLC shares in the charter capital owned by the Company:
“1. To terminate in advance the authorities of Dmitriy Komissarov, CEO of Retail Import LLC, to consider February 5, 2014 as the date of termination of his authorities.
2. To elect Vladimir Antonov as the CEO of Retail Import LLC for the term of 5 (five) years (information shall be disclosed in accordance with the Federal Law “On personal data”), to consider February 6, 2014 as the date of assumption of the office.
3. To execute the Employment agreement with Vladimir Antonov, to authorize Sergey Galitskiy, the representative of OJSC “Magnit”, which is the sole shareholder of Retail Import LLC, to sign the Employment agreement with the sole executive body (CEO) of Retail Import LLC on behalf of Retail Import LLC.
4. To authorize the CEO of Retail Import LLC to execute necessary operations related to the state registration of amendments to the Unified State Register of Legal Entities

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.