Daily Archives: February 7, 2014

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National Retail Federation issues statement on the January jobs report

Washington, DC, US, 2014-2-7 — /EPR Retail News/ — The National Retail Federation today issued the following statements from NRF President and CEO Matthew Shay and Chief Economist Jack Kleinhenz on the January jobs report:

“While it is always positive to see an increase in private sector hiring and a decrease in unemployment, it is alarming that employment can’t shift into a higher gear,” Shay said.

“Despite seasonal factors at play in today’s employment report, it remains incumbent on policymakers to lead the nation’s recovery and move beyond partisan disputes over raising the debt ceiling and refocus attention on patent, tax and immigration reform, which will spur economic growth, opportunity and job creation.”

NRF calculated retail employment down 21,600 jobs in January yet up 230,000 jobs year-over-year. December retail employment figures were revised up to a gain of 57,000 jobs.

“Once again the jobs report was disappointing and weather was a major factor,” Jack Kleinhenz said. “Even though employment gains in the retail sector declined for the month due to severe winter weather and additional seasonal factors, the economy is primed for a rebound. The decreases in retail jobs were mostly localized and focused on specific categories, especially sporting goods, hobby, book and music stores.”

The Bureau of Labor Statistics Employment Situation report showed that January total nonfarm payroll employment rose by 113,000 with the unemployment rate at 6.6 percent and the labor force participation rate at 63.0 percent.

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.

Stephen E. Schatz or Bethany Aronhalt (855) NRF-PRESS

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Ahold USA’s Giant Carlisle Division president Rick Herring to retire

Carlisle, PA, US, 2014-2-7 — /EPR Retail News/ — Ahold USA today announced that Rick Herring, president of the Giant Carlisle Division, has made the decision to retire, effective February 14, 2014.

Herring has had a successful career at Ahold companies for nearly 25 years and has made many contributions to the Ahold organization.

Ahold USA COO James McCann said, “We would like to thank Rick for his numerous contributions to our companies, as well as for his leadership, dedication, and years of service. We wish him all the best in this next phase of his life and career.”

Bhavdeep Singh, executive vice president of operations, Ahold USA, will oversee the Giant Carlisle Division on an interim basis until a permanent replacement is named.

The Giant Carlisle Division, headquartered in Carlisle, Pa., operates nearly 200 supermarkets in Pennsylvania, Maryland, Virginia, and West Virginia under the banner of GIANT/MARTIN’S. The division employs more than 31,000 associates.

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Ahold USA's Giant Carlisle Division president Rick Herring to retire

Ahold USA’s Giant Carlisle Division president Rick Herring to retire

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JCPenney names developers for the development of the vacant land around its Plano, Texas home office

Plano, TX, US, 2014-2-7 — /EPR Retail News/ — JCPenney announced today that it has entered into a new partnership to develop the vacant land around its Plano, Texas home office in the Legacy Business Park. The new partnership will be managed by Team Legacy, a venture of the Karahan Companies, Columbus Realty, and KDC.

The new project, Legacy West, consists of 240 acres at the southwest corner of the Dallas North Tollway and State Highway 121, and is considered a prime office and mixed-use development site in the heart of Legacy Business Park, one of the premier business parks in the country. Legacy West will be a natural extension of Legacy Town Center, a mixed-use development presently located only on the east side of Dallas North Tollway.

JCPenney purchased the land in 1987, shortly before moving from New York City to Texas, and completed its Plano home office in 1992. The Company was one of the first to move to the Legacy corridor, which is now home to multiple Fortune 500 companies and is a leading shopping, dining and living destination.

“We have seen a great deal of business and residential growth around the home office over the last 25 years, and now is the time to capitalize on this attractive asset,” said Katheryn Burchett, senior vice president of real estate and property development at JCPenney. “Karahan, Columbus, and KDC are trusted partners with a respected reputation, and we believe they will develop the land adjacent to our home office thoughtfully. This new project will be a positive venture for our Company, our associates and all of North Texas.”

JCPenney Media Relations:
(972) 431-3400 or jcpnews@jcp.com

JCPenney Investor Relations:
(972) 431-5500 or jcpinvestorrelations@jcpenney.com

Team Legacy:
The Karahan Companies
Fehmi Karahan
(214) 473-9700 or fehmi@karahaninc.com

KDC
Steve Van Amburgh
(214) 696-7827 or steve.vanamburgh@KDC.com

Columbus Realty
Robert Shaw
(214) 635-4720 or rshaw@crp1492.com

About JCPenney:
J. C. Penney Company, Inc. (NYSE: JCP), one of the nation’s largest apparel and home furnishing retailers, is dedicated to becoming America’s preferred retail destination for unmatched style, quality and value. Across approximately 1,100 stores and at jcp.com, customers will discover an inspiring shopping environment that features the most sought after collection of private, national and exclusive brands and attractions. For more information, please visit jcp.com.

About The Karahan Companies
The Karahan Companies has been actively involved in Dallas Fort-Worth real estate since 1992. The Company has developed neighborhood and grocery anchored retail projects throughout the Metroplex, including such projects as the 110-acre mixed-use MacArthur Crossing development featuring office, hotel, medical and retail uses, as well as the award-winning Shops at Legacy in Legacy Town Center, one of the most successful mixed-use projects in the United States. The Karahan Companies maintains its offices in the heart of Legacy Town Center and is an active and contributing corporate citizen in the City of Plano and Collin County. For more information, contact the Karahan Companies at 214.473.9700.

About KDC
KDC, one of America’s leading commercial real estate development and investment companies, provides a full range of commercial real estate services including corporate build-to-suit development, acquisitions, corporate facility project/construction management, project financing, asset and land management, and marketing and leasing. KDC is headquartered in Dallas and has offices in Austin and Houston, Texas, and Charlotte, N.C. KDC has been active in the Legacy Business Park since 1994, having developed or redeveloped more than three million square feet. Clients include Countrywide, Encana, PepsiCo, Intuit, AT&T, St. Jude Medical, Denbury Resources, Rent-A-Center, and Tyler Technologies. KDC’s largest undertaking in the Legacy Business Park was its acquisition of The Campus at Legacy, formerly EDS’ three building campus totaling 1.1 million square feet. For more information, please visit kdc.com.

About Columbus Realty
Columbus Realty Partners was formed in 1987 by Robert Shaw and Roger Staubach, to develop and build Class A multifamily residential properties in preeminent Southwest markets and their mixed-use submarkets. In 1993, they took the company public as Columbus Realty Trust, a Real Estate Investment Trust traded on the NYSE. Following a merger with Post Properties in 1997, the principals resumed their partnership and continue on today, having been involved in the development of over 15,000 apartments, condominiums, and townhomes, as well as integral ground floor retail space. Most of that development has been in the premier submarkets of Uptown Dallas, Uptown Denver, Midtown Houston, Austin Domain, Fort Worth West 7th, Addison Circle, and the largest – Legacy Town Center – with over 3,000 apartment homes. For more information, contact Columbus at 214.635.4720.

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Denis Hennequin and Keith Williams appointed to the Board of John Lewis Partnership plc as non-executive directors

London, UK, 2014-2-7 — /EPR Retail News/ — The John Lewis Partnership announces that Denis Hennequin and Keith Williams are to join the Board of John Lewis Partnership plc on 1 March 2014 as non-executive directors.

The Partnership announced on 26 July 2013 that David Barclay, formerly the Partnership’s Deputy Chairman, would be retiring as a non-executive director on 28 February 2014. While Baroness Hogg’s term as a non-executive director also comes to an end in February 2014, she has kindly agreed to remain on the Board for a further six months to provide continuity. Baroness Hogg has therefore agreed not to retire until September 2014.

Sir Charlie Mayfield, Chairman of the John Lewis Partnership, said: ‘I would like to thank David for the hugely important contribution he has made to the Partnership and would like to thank Sarah for being willing to extend her term as a non-executive director to ensure a smooth transition for our new directors and the Board.’

Denis Hennequin began his career at McDonald’s, becoming President of McDonald’s Europe in 2005 where he was responsible for 6,600 restaurants in 40 countries. He was Chairman and Chief Executive Officer of Accor, the worldwide hotel group, until 2013. He became a non-executive director of Eurostar in 2012.

Keith Williams is Executive Chairman of British Airways. Keith joined the airline in 1998 and became Chief Executive in 2011. Prior to joining British Airways he worked for a range of major corporations including Reckitt and Coleman, Apple Computer Inc and Boots.

Sir Charlie Mayfield, Chairman of the John Lewis Partnership said: ‘I am delighted that Denis and Keith have agreed to join the Board. They have a wealth of experience to bring to the Partnership and I very much look forward to working with them.’

Notes to editors
The John Lewis Partnership – The John Lewis Partnership operates 40 John Lewis shops across the UK (30 department stores and ten John Lewis at home), johnlewis.com, 303 Waitrose shops, waitrose.com and business to business contracts in the UK and abroad.  The business has annual gross sales of over £9.5bn.  It is the UK’s largest example of worker co-ownership where all 85,500 staff are Partners in the business.

John Lewis – John Lewis, ‘Retailer of the Year 2013’¹ , ‘The Nation’s Best Retailer’² and ‘Best Retailer 2013’³, typically stocks more than 350,000 separate lines in its department stores.  The website stocks over 250,000 products focused on the best of fashion, beauty, home and giftware and electrical items including online exclusives. johnlewis.com is consistently ranked one of the top online shopping destinations in the UK. (www.johnlewis.com).  John Lewis Insurance offers a range of comprehensive insurance products – home, car, wedding and event, travel and pet insurance and life cover – delivering the usual values of expertise, trust and customer service expected from the John Lewis brand.

¹ Oracle Retail Week Awards 2013
² Verdict Consumer Satisfaction Awards 2013
³ Which? Awards 2013

You can follow John Lewis on the following social media channels:
www.johnlewis.com/twitter 
www.johnlewis.com/facebook 
www.johnlewis.com/youtube.

Waitrose – Waitrose, Britain’s favourite supermarket*, has 303 shops in the UK and Channel Islands and is consistently achieving sales growth significantly ahead of the market**. Its strong performance has been driven by the success of the essential Waitrose range, Brand Price Match, an unmatchable top tier of products and free delivery for online shopping, as well as a long term commitment to sourcing the UK’s finest local and regional foods. 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.(www.waitrose.com)

* Which? Annual Supermarket Satisfaction Survey, Favourite Food & Grocery Retailer at Verdict’s annual Consumer Satisfaction Awards; Favourite Supermarket at Good Housekeeping Awards
**Kantar World panel

You can follow Waitrose on the following social media channels:
www.facebook.com/waitrose
www.twitter.com/waitroseuk 
www.twitter.com/waitrosewine 
www.youtube.com/waitrose.

Enquiries
For further information, please contact:John Lewis Partnership
Andrew Moys, Director of Communications
Telephone: 020 7592 6292

Citigate Dewe Rogerson
Simon Rigby / Jos Bieneman
Telephone: 020 7638 9571

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Grand Rapids Community Foundation to award two Fred & Lena Meijer scholarships to Meijer team members and their children

Grand Rapids, MI, US, 2014-2-7 — /EPR Retail News/ — For the third consecutive year, Meijer team members and their children will have a chance to receive up to $10,000 to further their college education with the Fred & Lena Meijer Scholarship, a competitive scholarship administered by Grand Rapids Community Foundation.

“Our dad always believed that continued education and lifelong learning were invaluable,” said Doug Meijer, co-chairman of the Grand Rapids, Mich.-based retailer. “My brothers and I are pleased to continue providing this scholarship opportunity for Meijer team members and their children.”

The Fred & Lena Meijer Scholarship is a private scholarship fund that was established at the Grand Rapids Community Foundation in 1975 originally for children of Meijer team members. In 2010, the scholarship program was expanded to include Meijer team members themselves and awards were increased from $500 to $1,000. The Meijer Foundation funded the scholarship in 2011 with a significant endowment to the Community Foundation, and enhanced the scholarship in 2012 to $2,500, while also providing two $10,000 scholarships: one each in Fred and Lena Meijer’s names.

Last year, the program awarded $315,000 in scholarships, furthering the college educations of 120 Meijer team members and their children. Of that amount, two recipients were awarded $10,000 scholarships and 118 others throughout the retailer’s five-state footprint received $2,500 scholarships. While administered in Grand Rapids, the scholarship is open to all team members regardless of where they reside.

The Fred & Lena Meijer Scholarship is awarded by the Grand Rapids Community Foundation based on financial need, academics, and community involvement. A written essay of aspirations and educational goals is also part of the application process.

“We enjoy working with Meijer to provide scholarships for its team members and their families,” Grand Rapids Community Foundation President Diana Sieger said. “The opportunities that higher education offers can change a person’s life, and the scholarships can help make that happen.”

The scholarships are available for use at any accredited college, university, vocational, technical or specialized educational institution nationwide. The number of scholarships awarded each year is determined as a percentage of the total number of applicants as set by the federal government.

To qualify for the scholarships, Meijer team members must have one year of continuous service by the April 1 application deadline, and may be full- or part-time students. Dependents of Meijer team member must be full-time students with a minimum of 12 credit hours.

For more information on the application process and to apply, please visit http://bit.ly/1iuWbLI or www.grfoundation.org

About Meijer
Meijer is a Grand Rapids, Mich.-based retailer that operates 204 supercenters and grocery stores throughout Michigan, Ohio, Indiana, Illinois and Kentucky. As a pioneer of the “one-stop shopping” concept, Meijer stores have evolved through the years to include expanded fresh produce and meat departments, as well as pharmacies, comprehensive electronics departments, garden centers and apparel offerings. Additional information on Meijer and the ability to shop for more can be found at www.meijer.com. Follow Meijer on Twitter @twitter.com/Meijer and @twitter.com/MeijerPR or become a fan at www.facebook.com/meijer.

About the Grand Rapids Community Foundation
The Grand Rapids Community Foundation leads Kent County in making positive, sustainable change. With its endowment, Grand Rapids Community Foundation support local nonprofits, leads significant social change and helps donors achieve their philanthropic goals. For more information, please visit www.grfoundation.org.

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Contacts: Roberta F. King, 616-454-1751, rking@grfoundation.org; Christina Fecher, 616.735.7968, christina.fecher@meijer.com 

meijergrandrapids

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Swedish Olympic team wears H&M at Winter Olympic Opening Ceremony in Sochi, Russia

H&M is proud to have designed the outfits for the Swedish Olympic team at this evening’s Winter Olympic Opening Ceremony in Sochi, Russia.

Stockholm, Sweden, 2014-2-7 — /EPR Retail News/ — The outfits are created in collaboration with athletes from the Olympic team, using the Swedish national colours blue and yellow. H&M has provided an extensive wardrobe for the Swedish Olympic athletes, including outfits for training and leisure, as well as competition clothing for the Swedish teams for figure skating, curling, slopestyle free skiing, slopestyle snowboard and moguls.

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Swedish Olympic team wears H&M at Winter Olympic Opening Ceremony in Sochi, Russia

Swedish Olympic team wears H&M at Winter Olympic Opening Ceremony in Sochi, Russia

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Price Chopper, QuickCare and Ellis Medicine open in-store health center in Price Chopper’s Market Bistro in Latham

Latham, NY, US, 2014-2-7 — /EPR Retail News/ — Price Chopper, QuickCare and Ellis Medicine celebrated the grand opening of the QuickCare center in Price Chopper’s Market Bistro in Latham today, welcoming shoppers and local residents to the convenient, in-store health center.

The three organizations created this innovative and first-of-its-kind in the Capital Region partnership to offer residents access to more convenient and efficient healthcare. QuickCare, staffed by an Ellis Medicine nurse practitioner, physician or physician assistant, are walk-in health centers that offer patients immediate help for common illnesses and provide some well-care and screening services.

The QuickCare Clinics, the first health centers sited within retail stores in the Capital Region, are located adjacent to the pharmacy departments in the Latham store and the Malta Price Chopper. No appointments are necessary to be seen by a healthcare provider.

“Helping people get access to healthcare in a place that is close to them and is a part of their regular routines just makes sense in this new age of healthcare delivery,” said David Liebers, M.D., medical director of QuickCare.

“The convenient hours and location next to full-service pharmacies make these QuickCare centers tremendously accessible for people who are already in our stores shopping for orange juice, cough and cold medicine or chicken soup,” said Price Chopper Executive Chairman of the Board Neil Golub. “We’re very pleased to be offering our customers another convenience that will help them live healthier lives.”

Illnesses that can be diagnosed and treated at QuickCare include allergies, congestion, cough, earache, flu-like symptoms, muscle aches and pains, motion sickness, pink eye or styes, respiratory and sinus infection, sore or strep throat and urinary tract infection. QuickCare also offers sports physicals. Both centers will be open daily from 10 a.m. to 6 p.m.

After seeing the healthcare professional, patients who need a prescription filled are only steps away from Price Chopper’s full-service pharmacies, adding to the convenience of the visit.

“QuickCare fits with the vision of the Affordable Care Act to break down barriers to healthcare by moving that care into communities – making it more accessible,” said Ellis President & CEO James W. Connolly. “These centers will help meet the increased number of patients seeking healthcare resources.”

QuickCare currently accepts CDPHP insurance; co-pays are based on the member’s plan. For patients who are not CDPHP members, a payment of $40 is due at time of service.

More information is available at www.capitalregionquickcare.com

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About Price Chopper: Based in Schenectady, NY, the Golub Corporation owns and operates 132 Price Chopper grocery stores in New York, Vermont, Connecticut, Pennsylvania, Massachusetts and New Hampshire. The American owned, family-managed company prides itself on longstanding traditions of innovative food merchandising, leadership in community service, and cooperative employee relations. Golub’s 22,000 teammates collectively own more than 51% of the company’s privately held stock, making it one of the nation’s largest privately held corporations that is predominantly employee-owned.
For additional information, visit www.pricechopper.com

About QuickCare: About QuickCare: Capital Region QuickCare is a professional limited liability corporation formed to offer convenient walk-in health care for common illnesses. QuickCare currently has two locations inside Price Chopper stores in Latham and Malta, NY. Learn more at www.capitalregionquickcare.com

About Ellis Medicine: Ellis Medicine is a 438-bed community and teaching healthcare system serving New York’s Capital Region. With four campuses – Ellis Hospital, Ellis Health Center, Bellevue Woman’s Center and Medical Center of Clifton Park – Ellis Medicine provides a lifetime of care for patients. Follow Ellis Medicine on Facebook, Twitter or YouTube. Learn more at www.ellismedicine.org

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Darty plc progresses further with its ‘4Ds’ plan to Drive trading, Digitalise Darty, Develop the brand and Deliver cost efficiency

Strong peak trading and good progress in delivering our ‘Nouvelle Confiance’ strategic plan 

London, UK, 2014-2-7 — /EPR Retail News/ — Darty plc today announces an Interim Management Statement for the period from 1 November 2013 to date. Financial information is for the third quarter period from 1 November 2013 to 31 January 2014, based on unaudited management accounts.

Summary

Good progress during the quarter in delivering our strategy ‘Nouvelle Confiance’:

  •  ‘4Ds’ plan to Drive trading, Digitalise Darty, Develop the brand and Deliver cost efficiency
    • Further market share gains in our core markets with total revenue up 3.2 per cent on a like-for-like basis and up 4.9 per cent in France in challenging and promotional markets. Group gross margin down 80 basis points in line with expectations
    • Continued double-digit growth of web-generated sales in our core businesses confirming customer demand for our multi-channel offer
    • Completed head office reorganisation in France to improve cost efficiency
  • Future growth opportunities pursued to further strengthen Darty’s leadership position in France from:
    • expansion into smaller catchment areas through franchisees, the first to open next month with a further four by April 2014
    •  the proposed acquisition of Mistergooddeal.com to extend the ‘low price/pay-as-you-go services’ offer
  • Further elimination of losses in our non-core markets with the agreement to sell Darty Turkey

 

Q3 revenue change (3 months to 31 January) 

Euros Local Currency Like-for-like
Darty France 3.6% 3.6%  4.9%
Belgium and the Netherlands 0.1% 0.1% (1.3)%
Other* (10.6)% 0.2% (1.0)%
Total 1.7% 2.7% 3.2%
Total exc Darty Turkey 2.5% 3.0% 3.4%

* Datart and Darty Turkey.

Régis Schultz, Chief Executive, commented:

“I am pleased with the further progress we have made with our new ’4Ds’ plan to Drive trading, Digitalise Darty, Develop the brand and Deliver cost efficiency, as evidenced by strong sales and market share gains. I would like to thank all our colleagues for their efforts over this peak period.

“We continue to make rapid progress with our ‘Nouvelle Confiance’ strategy with the roll-out of the franchisee operation to commence next month and the proposed acquisition of Mistergooddeal.com, both of which will build on our leadership position in France.

“We have also successfully implemented our cost saving programmes to deliver annual gross cost savings of €50 million by 2014/15, which will help mitigate continued product margin pressure in an environment that is expected to remain difficult and promotional.”

Group

Total Group revenue was up 2.7 per cent in local currency and up 3.2 per cent on a like-for-like basis. We saw strong growth in tablets and smart phones and progress in large white goods and small domestic appliances. The rate of decline in Vision moderated and we saw strong sales of new Ultra HD/4K and OLED screens demonstrating the quality of both our offer and sales colleagues.

Further strong growth in web-generated sales confirmed customer demand for our multi-channel offer.

Gross margin was down 80 basis points in line with expectations and also reflecting ongoing price pressure in challenging and promotional markets.

Darty France

Darty France strongly outperformed the market in the period, with market share gains in all major product categories. Total revenue was up 3.6 per cent and up 4.9 per cent on a like-for-like basis with growth in all major categories other than vision, where there continued to be some weakness. As part of our plan to drive trading, we held a number of VIP private shopping evenings in late November/early December and a voucher campaign on white goods post Christmas and ahead of the January sale. The first day of the sale saw revenue up nearly one third compared to the same day last year, both in store and on-line with Darty.com receiving nearly one million visits. Overall for the quarter, web-generated sales grew over 10 per cent to over 14 per cent of total product sales.

In line with our plan to drive trading we saw gross margin decline. The overall decline of 110 basis points for the period also reflected competitive market conditions which became increasingly promotional in the lead up to and through the peak trading period.

Belgium and the Netherlands

At Vanden Borre in Belgium and BCC in the Netherlands revenue was up 0.1 per cent and was down 1.3 per cent on a like-for-like basis, against solid growth in the same period last year. Web-generated sales continued to grow strongly, up again over 12 per cent to 11 per cent of total product sales.

Vanden Borre further improved its position with strong sales growth and market share gains, with a record start to the sales period in early January. BCC continued to be adversely impacted by what remains a very difficult and highly promotional market. Having annualised the introduction of free delivery, BCC saw an improving gross margin trend. Continued strong growth of lower margin communications products in both markets resulted in the overall improvement in gross margin pressure being limited to 10 basis points across the two businesses.

Other

Revenue at Datart and Darty Turkey was up 0.2 per cent in local currency and fell by 1.0 per cent on a like-for-like basis, with a positive performance at Datart. Overall, gross margin was up 100 basis points for the period.

Discontinued operations

As announced on 18 December 2013, the Group entered into binding heads of terms with Turkish specialist technology retailer Bimeks to sell the Group’s Turkish operations, Darty Turkey. The asset sale agreement was signed on 22 January 2014 and it is expected the asset transfer will complete by the end of this financial year. Under the agreement we anticipate around a €10 million cash outflow this financial year, to be broadly off-set by cash inflows in the new financial year. Darty Turkey will be treated as a Discontinued operation for the financial year ending 30 April 2014.

Financial position

Except as detailed above, there have been no material events or transactions impacting the Group’s financial position that have taken place since the previously announced 30 October 2013 balance sheet date.

Store numbers and selling space as at 31 January

Store numbers Selling space (000 sqm)
2014 2013 2014 2013
Darty 226 229 311.4 314.2
Belgium and the Netherlands 116 115 127.9 127.2
Other* 71 72 71.3 75.0
Group Total 413 416 510.6 516.4

* Datart and Darty Turkey.

There will be a telephone conference call for analysts at 08:00 on 6 February 2013. Dial-in number: +44 (0) 20 3003 2666. A recording of this call will be made available after 10.00am. Replay dial-in number: +44 (0) 20 8196 1998, Access Pin: 3439586.

The Group will issue its Full Year Results on Thursday 19 June 2014.

 

Enquiries

Analysts
Darty plc
Simon Ward                                    +44 (0) 20 7269 1400

Media
UK RLM Finsbury
Rollo Head                                     +44 (0) 20 7251 3801
Jenny Davey

France
Le Public Système
Ségolène de Saint Martin           +33 1 41 34 23 31 / +33 6 16 40 90 73

 

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Russia’s largest retailer Magnit opens new distribution center in Voronezh

Krasnodar, Russia, 2014-2-7 — /EPR Retail News/ — OJSC “Magnit”, Russia’s largest retailer (the “Company”; MICEX and LSE: MGNT) announces the opening of a new distribution center in Voronezh.

Please be informed that the Company has opened a new distribution center (DC) in Voronezh. Total space of the warehouse is about 40 thousand sq. m. Launch of the new distribution facility will improve the quality of service in the Central region.

“Magnit” operates 23 distribution centers with their total capacity of about 674,249 sq. m.

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: +7-861-277-45-54 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.

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