The Wegman Family Charitable Foundation donated over $1 million to Explore & More Children’s Museum

BUFFALO, NY, 2014-3-14 — /EPR Retail News/ — Explore & More today announced two major gifts totaling over $1 million in contributions to the Museum’s recently launched capital campaign for their new facility opening at Canalside in 2016.

Wegmans Food Markets, Inc. has donated $550,000 to the project, and with that, puts the Wegmans name on the From Farm To Fork educational play zone, as well as the Galley cooking area.

In addition, The Wegman Family Charitable Foundation has donated $500,000 to support the new museum’s rooftop garden.

“This partnership with Wegmans Food Markets fits our mission precisely, and we are so grateful for their financial support as well as their expert input for From Farm to Fork.  It is a major investment on behalf of the children and families of Buffalo and Western New York,” said Explore & More Executive Director Barbara Leggett of this first major gift to the Museum’s capital campaign, which launched in December.

In a way that’s engaging and fun, From Farm to Fork will use Buffalo’s rich agricultural history to help children learn where food comes from.   Children will have the chance to harvest on the farm, shop and sell at the produce market, and cook and create in the Galley.

“When we heard about Explore & More’s vision for this project, we knew it was a natural fit for us,” explained Mike Keating, Wegmans’ Senior Vice President of the Buffalo Division. “We are delighted to be part of a project that will mean so much to families in Buffalo, including our own employees and their children.”

Separately, the Rooftop Garden will be funded by The Wegman Family Charitable Foundation.  Looking out over the Buffalo Waterfront, Explore & More’s Rooftop Garden will offer a variety of outdoor activities for families. It will be a lively and whimsical space, transformative of the urban landscape in which it stands.   Visitors young and old will get inspiration from the unparalleled views, delight in the musical garden, and have fun in the interactive art stations.

“Support for innovative approaches to learning and helping families to eat healthy are two focus areas for our foundation,” said Danny Wegman, president and chairman of the board of The Wegman Family Charitable Foundation.  “This is an exciting project that will help to achieve both goals.”

Celebrating 20 years in operation, Explore & More Children’s Museum has hands-on, interactive exhibits and programs that inspire creativity, curiosity and imagination.  The Museum has actively been planning for its expansion and move from the current East Aurora site to Buffalo’s Waterfront.  Explore & More is set to open a 40,000 square foot museum at Canalside in 2016. Buffalo stories will connect interactive exhibits and programs to Canalside, offering unique, place-based play experiences for the whole family.

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Wegmans Food Markets, Inc. is an 83-store supermarket chain with stores in New York, Pennsylvania, New Jersey, Virginia, Maryland, and Massachusetts.  The family-owned company, founded in 1916, is recognized as an industry leader and innovator.  Wegmans has been named one of the ‘100 Best Companies to Work For’ by FORTUNE magazine for seventeen consecutive years.  In 2014, Wegmans ranked #12 on the list.

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The Wegman Family Charitable Foundation (The Foundation), a charity headquartered in Rochester, New York, was created by Robert Wegman in 1991 and is funded by assets from his estate.  The Foundation’s areas of focus are health care, education, workforce development and United Way.   The Foundation does not accept grant applications.

Contact Information:  

Jennifer Fee, Explore & More Children’s Museum, 716-655-5131 ext. 11
Jo Natale, Wegmans’ director of media relations, 585-429-3627

The Muppets are coming to QVC on March 16

QVC Celebrates Disney’s Muppets Most Wanted with a Day of Surprises March 16

WEST CHESTER, Pa., 2014-3-14 — /EPR Retail News/ — Imagine a pig, a pair of frogs and their posse walk into QVC. Sound like a far-fetched story filled with contagious laughter? Well, it will be reality on March 16 when the Muppets burst through QVC’s doors to celebrate Disney’s Muppets Most Wanted, in theatres March 21.

That’s right. The Muppets are coming to QVC!

Miss Piggy…check. Kermit the Frog…check. Constantine…check. The Great Gonzo, Pepe the King Prawn, Beaker… check, check, check. The global multimedia retailer is eager to welcome the Muppets for a day full of abundant adventure and special surprises.

“We might be crazy to let the Muppets assume control of QVC on March 16, but it’s too late to back out now,” commented Doug Rose, senior vice president of marketing and programming for QVC. “We’re just crossing our fingers that they know what they’re doing and that nobody gets hurt.”

The fun-filled day will include numerous opportunities for the Muppets to mingle and cavort with many of QVC’s program hosts and celebrity guests. Among them, Swedish Chef will put his cooking skills to the test during a special edition of In the Kitchen with David®. Pepe the King Prawn will prove he’s no shrimp when it comes to social commentary throughout the day. And Link Hogthrob may have a dream come true with the chance to serve as QVC co-host. Entertainment icon and fashion laureateJoan Rivers will also be on air that day, which is sure to lead to even more excitement for the gang.

Given their pop-culture limelight, Miss Piggy, Kermit and other beloved Muppets will get beauty tips from QVC guests Chaz Dean, Laura Geller, Mally, Josie Maran and Sherri Shepherd. The crew will also have the chance to meet style and fashion experts Jill Martin, Lori Goldstein, Dennis Basso and Joe Zee, who will be sure to keep the film stars on trend. Of course, there’s no doubt the Muppets will get in on some whimsical behind-the-scenes action during their whirlwind visit.

One of the movie’s stars is no stranger to QVC, however. Undeniable style icon Miss Piggy made recent headlines with her appearance at QVC’s Red Carpet Style event in Los Angeles. The ever-fabulous fashionista made her foray into the world of design with Miss Piggy’s Haute Tote, the special-edition tote bag for the gala event, and she’s eager to return to QVC this Sunday.

“When it comes to shopping, no one has more experience than moi,” said movie star and world-class diva Miss Piggy. “And QVC keeps my shopping skills at the peak of performance. I am really looking forward to connecting with the QVC woman. We have so much in common. We’re fabulous. We’re fashionable! And we always get what we want!”

For more information about the Muppets’ visit to QVC and how to enter the ongoing QVC Sweepstakes Celebrating Disney’sMuppets Most Wanted,* go to www.qvc.com/muppetsmostwanted. Miss Piggy’s Haute Tote and a special selection of Muppet merchandise are available, while supplies last, through QVC at 800.345.1515, QVC apps and QVC.com.

*No purchase necessary. Sweepstakes began February 10, 2014 and ends March 16, 2014. Open only to eligible legal residents of 49 United States (excluding Rhode Island) and the District of Columbia who are at least 18 years old at the time of game play. Void in Rhode Island, Puerto Rico and where prohibited or restricted by law. For official rules, visit qvcsweepstakes.com.

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About QVC
QVC, Inc., a wholly owned subsidiary of Liberty Interactive Corporation (NASDAQ: LINTA, LINTB), is the world’s leading video and ecommerce retailer. QVC is committed to providing its customers with thousands of the most innovative and contemporary beauty, fashion, jewelry and home products. Its programming is distributed to approximately 300 million homes worldwide through operations in the U.S.JapanGermanyUnited KingdomItaly and a joint venture in China. West Chester, Pa.-based QVC has shipped more than a billion packages in its 27-year history and the company’s website, QVC.com, is ranked among the top general merchant Internet sites. QVC, Q, and the Q Ribbon Logo are registered service marks of ER Marks, Inc.

About “Muppets Most Wanted”
Disney’s “Muppets Most Wanted” takes the entire Muppets gang on a global tour, selling out grand theaters in some of Europe’s most exciting destinations, including Berlin, Madrid, Dublin and London. But mayhem follows the Muppets overseas, as they find themselves unwittingly entangled in an international crime caper headed by Constantine-the World’s Number One Criminal and a dead ringer for Kermit the Frog-and his dastardly sidekick Dominic, aka Number Two, portrayed by Ricky Gervais. The film stars Ty Burrell as Interpol agent Jean Pierre Napoleon and Tina Fey as Nadya, a feisty prison guard. Disney’s “Muppets Most Wanted” is directed by James Bobin and produced by David Hoberman and Todd Lieberman. Bobin wrote the screenplay with Nicholas Stoller, who is also executive producer with John G. Scotti. Featuring music from Academy Award®-winning songwriter Bret McKenzie, “Muppets Most Wanted” hits the big screen March 21, 2014. For more information, visit Disney.com/Muppets, like us on Facebook: Facebook.com/Muppets, and follow us on Twitter: Twitter.com/TheMuppets.

Harris Teeter’s fundraising program Together in Education donates $460,437.50 to schools

Schools Receive Nearly $720,000 from Harris Teeter since August 2013

Matthews, N.C., 2014-3-14 — /EPR Retail News/ — Harris Teeter announced today that it is donating $460,437.50 to schools this month through Together in Education (TIE), Harris Teeter’s fundraising program for schools in its communities.  This is the second of three payouts the Company will make to schools during the current school year and is nearly double what schools earned as part of the first payout.

Top Earning Schools, Second Payout

 TIE School Location Links Money Earned*
 Grimsley Senior High School Choral Program Greensboro, N.C. 3,196 $5,325.61
 Page High School Greensboro, N.C. 2,185 $4,087.58
 Providence High School Rugby Club Charlotte, N.C. 1,261 $3,367.76
 Randolph Elementary School PTA Arlington, Va. 1,271 $3,118.09
 Providence High School PTSO Charlotte, N.C. 1,067 $3,027.69
 Lynn Road Elementary School Raleigh,  N.C. 1,350 $2,912.79
 Hoffman-Boston Elementary School Ashburn, Va. 726 $2,757.02
 Creighton’s Corner PTA Ashburn, Va. 339 $2,228.65
Sgt. Eugene Ashley High NJROTC Wilmington, N.C. 1,259 $2,169.16
Charlotte Latin School Charlotte, N.C. 537 $2,057.17

* Money earned Dec. 1, 2013 – Feb. 28, 2014

Active participation by both TIE schools and loyal Harris Teeter customers is integral to the success of the Together in Education program.  Nine hundred and thirty (930) schools will receive a check from Harris Teeter during the second payout.  This is up from the 425 schools that received a check during the first payout. In order to receive a check, schools must have accrued at least $250 by the end of the second payout period.

Since 1998, Harris Teeter Together in Education has donated over $20 million to area schools.  In honor of this accomplishment and to say “thank you” to participants, Harris Teeter launched its TIE $100,000 Giveaway in January.  During the Giveaway, Harris Teeter is donating a total of $10,000 each week for 10 weeks to randomly selected winners and the Together in Education schools to which their VIC cards are linked. The Giveaway ends April 5, 2014; click here to learn more about the program and to read about previous winners.

For more information about Together in Education, please visit harristeeter.com.

Brico Dépôt opened its first two rebranded stores in Bucharest, Romania

Bucharest, Romania, 2014-3-14 — /EPR Retail News/ — Brico Dépôt has opened its first two rebranded stores in Romania, in the Pantelimon and Orhideea areas of the capital city Bucharest.

Kingfisher plc acquired ‘Bricostore’s’ 15 home improvement stores in Romania in April 2013. Since June last year work has been underway to integrate colleagues and transform the stores into Kingfisher’s successful Brico Dépôt format aimed at professional builders and serious DIYers.

Speaking from the opening ceremony at the Pantelimon store, Sir Ian Cheshire, Group Chief Executive of Kingfisher plc, said: “Opening our first two stores in Romania under the Brico Dépôt brand is a significant milestone for Kingfisher as we establish the first low-cost model in this market. This is more than a straight forward rebranding exercise and requires adapting our model to the local market. We think we have a key role to play in changing the face of home improvement retailing in Romania.

“I’ve said before that the home improvement market in Romania has solid growth potential and we aim to develop a successful business here in the longer term. I would like to take the opportunity to formally welcome all of the Bricostore employees to Brico Dépôt, and thank them for their continued commitment as we work to integrate the remaining 13 stores into the Brico Dépôt model.”

The deal added 2% selling space to the Kingfisher estate in April 2013. Using the Brico Dépôt format, there is scope to grow the business to around 50 stores in the longer-term. Romania is an attractive, growing market for home improvement.

Notes to editors

Brico Dépôt was established in 1993 in Reims (France). It currently has 109 stores in France and 24 in Spain. Brico Dépôt is primarily aimed at serious DIY-ers and professional builders. It is a low-price format which offers customers the essentials for their DIY and renovation projects, with products available in large, building site quantities. For more information: http://www.brico-depot.ro

Brico Dépôt Romania’s offer

  • 12,000 ‘essential’ products for construction and home improvement
  • Low prices, without sacrificing quality
  • High product availability and immediate self-service
  • “Arrivages” (one-off special buys)
  • Ranges incorporating the national brands previously present in Bricostore as well as Brico Dépôt own brands and best-sellers
  • Open Monday – Saturday from 07h00 to 21h00 and on Sundays from 09h00 to 19h00
  • Easy to shop format based around three core areas of building and renovation materials; home improvement; and general maintenance products

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One of two Brico Dépôt stores opened in Bucharest this week, following its transformation from Bricostore

One of two Brico Dépôt stores opened in Bucharest this week, following its transformation from Bricostore

IKEA launches latest IKEA PS collection themed “On the Move”

New Collection Marries Multifunction, Flexibility and Smart Design with Affordability

CONSHOHOCKEN, Pa., 2014-3-14 — /EPR Retail News/ — IKEA, the Life Improvement Store, announces the launch of its latest IKEA PS collection, themed “On the Move,” created specifically for the young, urban crowd living in smaller spaces. Now in its eighth iteration, the new IKEA PS collection offers a range of pieces for every room in the home, with lightweight materials, bright colors and multifunctional design woven throughout. Pieces of the collection – which range from seating to dishes, lighting to plant stands, and tables to storage units – are designed for flexibility and movability in order to adapt to the evolving needs of urban dwellers looking to live more simply and do more in the space they have.

The collection was inspired by homes – and homeowners – that are in constant motion. According to a global survey* commissioned by IKEA, nearly 60 percent of American city dwellers, aged 18-29, desire to move within the next two years.

“The IKEA PS 2014 collection focuses on the young urban residents that have ever-fluctuating living situations, whether it’s where they live or with whom they share a space,” said Janice Simonsen, Design Spokesperson, IKEA U.S. “This line brings flexibility to everyone by combining form, function, quality, sustainability and an accessible price point.”

IKEA worked with young-minded designers from all over the world to bring the beautiful and functional collection to life. Some examples of how the creators of the IKEA PS 2014 collection used smart design to create smart solutions include:

  • Corner cabinets that take advantage of the space in every corner of your home – literally!
  • A side table with built-in lighting and magazine racks.
  • A standing wall shelf with knobs perfect for holding jewelry, bags and more.
  • A pendant lamp whose light can be adjusted to fit any mood or task.
  • A wardrobe whose external design can be personalized to fit your style.

“At IKEA, our consumer is the inspiration behind our designs. Globally, we found that young people are looking to use every inch of their home effectively,” says Peter Klinkert, Head of Special Collections for IKEA of Sweden. “With IKEA PS 2014, we worked to create pieces that keep multifunction and small space living at the core.”

IKEA PS (meaning Post Scriptum) is the design statement of IKEA, first launched in 1995, which puts focus on cutting edge modern Scandinavian furniture design without losing sight of what makes IKEA unique – affordable, quality design for the many people. IKEA launches a new IKEA PS line approximately every three years.

The IKEA PS 2014 collection will be available starting in April at IKEA stores nationwide. For press images and additional information, visit http://www.ikea.com/us/en/pressroom/index.html. Consumers can visit http://www.pinterest.com/IKEAUSA/ikea-ps-2014/ to browse the collection.

Fans can also connect with IKEA via:

  • www.theshare-space.com (IKEA “Share Space” website)
  • www.theshare-space.com/Blog (“Design by IKEA” blog)
  • www.facebook.com/ikeausa (IKEA Facebook page)
  • www.twitter.com/DesignByIKEA (IKEA Twitter handle)
  • www.pinterest.com/IKEAUSA (IKEA Pinterest page)

Media Contact:
Kathy Boerner
646-935-3914
Kathy.Boerner@ketchum.com

* The survey was conducted by the YouGov analysis institute. During the period 9-27 January 2014, a total of 7648 CAWI interviews were conducted with men and women aged 18- 60 living in metropolitan areas in the following countries: Sweden, UK, France, USA, Poland, Japan, China and Qatar.

About IKEA: The Life Improvement Store
IKEA strives to be ‘The Life Improvement Store,’ and since its 1943 founding in Sweden, has offered home furnishings of good design and function, at low prices so the majority of people can afford them. There are currently more than 350 IKEA stores in 44 countries, including 38 in the U.S. IKEA, the world’s leading home furnishings company, incorporates sustainable efforts into day-to-day business and supports initiatives that benefit children and the environment.

The IKEA Foundation donated $139 million to children and families living in the world’s poorest communities in 2013

IKEA Foundation launches 12 new partnerships in 2013, reaching millions of children in 35 countries, including Brazil, Syria, Thailand and South Sudan

CONSHOHOCKEN, Pa., 2014-3-14 — /EPR Retail News/ — The IKEA Foundation released its 2013 Annual Review, reporting $139 million (101 million euros) in grants to help children and families living in the world’s poorest communities. In 2013, the IKEA Foundation was ranked as one of the highest-giving foundations in the world.The IKEA Foundation has increased its donations by 21% since 2012 and expanded its reach to 35 countries—helping millions of children in over a third of the world’s poorest countries. The Foundation’s donations are funded from IKEA’s profits; last year’s (FY13) donation represents more than 3% of the iconic furniture chain’s profits.

“Last year was a remarkable journey for us at the IKEA Foundation,” said Per Heggenes, Chief Executive Officer of the IKEA Foundation. “By giving more than ever, we were able to develop innovative new partnerships, helping ensure we can reach 100 million children and their families by 2015.”

The IKEA Foundation, which works with a total of 31 nonprofit organizations, is the largest global corporate donor to UNICEF, the United Nations Refugee Agency (UNHCR), Save the Children, Clinton Health Access Initiative (CHAI) and KickStart International, to name but a few.

In 2013, the IKEA Foundation worked with UNHCR and Refugee Housing on the development of a safer, more durable emergency shelter with innovations such as solar lighting for refugee families.

“The IKEA Foundation is UNHCR’s largest private-sector partner, and together we hope to be able to transform the lives of many refugees,” said António Guterres, United Nations High Commissioner for Refugees (UNHCR).

The 2013 Annual Review also reports that the Foundation:

  • Donated 2 million euros to UNICEF, 1 million euros to Médecins Sans Frontières and 150,000 euros to Save the Children to bring lifesaving supplies to families caught up in Typhoon Haiyan (the Philippines).
  • Donated 50,000 IKEA mattresses to UNHCR for Syrian refugee families.
  • Raised over 10 million euros for UNICEF and Save the Children, thanks to dedicated IKEA co-workers and customers who supported the Soft Toys for Education campaign.
  • Developed a partnership with Forest Trends that will help families from the Surui and Yawanawa tribes of Brazil develop sustainable ways to protect their rainforest homelands and improve their family incomes.
  • Established a partnership with Care for Children, which works with governments in Asia to help them place orphans into local families.
  • Expanded its partnership with Development Alternatives to teach women in India how to read, write and do basic math.
  • Funded scholarships for nearly 2,000 women through a partnership with the Lila Poonawalla Foundation, which helps young women from poor families in India pursue higher education in engineering and other professional fields.

About IKEA Foundation
The IKEA Foundation aims to improve opportunities for children and youth in the world’s poorest communities by funding holistic, long-term programs that can create substantial, lasting change. The Foundation works with strong strategic partners applying innovative approaches to achieve large-scale results in four fundamental areas of a child’s life: a place to call home; a healthy start in life; a quality education; and sustainable family income. Currently-funded programs benefit an estimated 100 million children by 2015. Learn more at www.ikeafoundation.org and www.facebook.com/IKEAfoundation

*Bloomberg exchange rate at 31 December 2013

H & M Hennes & Mauritz AB presents first quarterly results for 2014 on 27 March

Stockholm, Sweden, 2014-3-14 — /EPR Retail News/ — H & M Hennes & Mauritz AB presents the first quarterly results for 2014 at a press conference on Thursday 27 March at 9.30 CET. There will also be a telephone conference in English at 14.00 CET the same day.

The first quartely results for the period 1 December 2013 to 28 February 2014 is released at approximately at 8.00 CET on 27 March and thereafter published on hm.com.

The press conference starts at 9.30 CET in “Ljusgården” in H&M’s premises on Mäster Samuelsgatan 49, 3rd floor, in Stockholm. H&M’s CEO Karl-Johan Persson and Head of Investor Relations Nils Vinge will present the first quarterly results followed by an open Q&A session.The press conference is held in Swedish.

Participants in the telephone conference can choose to pre-register at https://eventreg1.conferencing.com/webportal3/reg.html?Acc=705166&Conf=190032 and receive log in details for the telephone conference.

Participants who choose to dial in on the telephone numbers below are kindly asked to call in at least ten minutes prior to the start of the conference in order to avoid a queue. Please quote ref 942681.

Sweden  +46 8 5052 0110 UK  +44 (0)20 7162 0077  US  +1 334 323 6201

Presentation material will be available at hm.com under Investor Relations at approximately 10.30 CET on 27 March and a recordingfrom the telephone conference as of 28 March.

Welcome!

Target announced the official grand opening of its Toronto Stockyards store on March 14

Festivities include product sampling, in-store specials and a special appearance from Bullseye

MISSISSAUGA, ON, 2014-3-14 — /EPR Retail News/ — Target is pleased to announce the official grand opening of its Toronto Stockyards store on March 14. The store, located in the Stockyards shopping complex at St. Clair Avenue West and Weston Rd., is the first from-the-ground-up build in Toronto, marking a major milestone for the retailer as it continues its expansion across the country through 2014.

“This Stockyards location was built from the ground up, providing us with the opportunity to build a prototypical Target store in terms of design and layout,” said Tony Fisher, president, Target Canada. “We look forward to celebrating the grand opening of this brand new store, which further reinforces our continued investment in the Canadian market and our commitment to bringing the Target brand experience to guests across the country.”

Target’s beloved mascot, Bullseye, will be in town for the grand opening on March 14 from 4 p.m. – 6 p.m. Guests can meet Bullseye and have their photos taken with Target’s beloved bull terrier. Other celebratory activities will begin when the store opens at 8 a.m.

Two other Target store locations, including a store at Kingsway Mall in Edmonton, Alberta and one at Hillside Centre in Victoria, British Columbia, will also be hosting grand opening celebrations on March 14.

Guests will be welcomed into bright, clean stores with wide aisles, great guest service and affordable trend-right merchandise. The stores will also feature a licensed Starbucks, as well as in-store pharmacies designed to provide guests with comprehensive patient-centered healthcare.

Target is committed to providing Canadian guests with a one-stop shopping destination for stylish, quality products at unbeatable prices, including beauty, apparel and accessories, home, grocery, personal care and more. Each store will carry an extensive range of Target owned and exclusive brands, including C9 by Champion, Circo, Archer Farms, Market Pantry and up & up; exclusive, limited time collaborations with Beaver Canoe (a member of the Roots Canada family); and ongoing collaborations such as the Nate Berkus Collection, the Sonia Kashuk Collection and Shaun White apparel.

For additional information on Target, including more stores scheduled to open in 2014, please visit Target.ca.

About Target
Minneapolis-based Target Corporation (NYSE: TGT) serves guests at 1,924 stores – 1,797 in the United States and 127 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.ca/corporateresponsibility.

media contact

Lisa Gibson
Target Communications
p: (289) 261-1221

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Target Corporation announced quarterly dividend of 43 cents per common share

MINNEAPOLIS, 2014-3-14 — /EPR Retail News/ — The board of directors of Target Corporation (NYSE:TGT) has declared a quarterly dividend of 43 cents per common share. The dividend is payable June 10, 2014 to shareholders of record at the close of business May 21, 2014. The 2nd quarter dividend will be the company’s 187th consecutive dividend paid since October 1967 when the company became publicly held.About Target

Minneapolis-based Target Corporation (NYSE: TGT) serves guests at 1,924 stores – 1,797 in the United States and 127 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.

For more information, visit Target.com/Pressroom.

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Morrisons reports preliminary results for the year ended 2 February 2014

Bradford, England, 2014-3-14 — /EPR Retail News/ — Preliminary results for the year ended 2 February 2014 and strategic update.

Financial summary
· Turnover down 2% to £17.7bn (2012/13: £18.1bn)
· Like-for-like sales (ex-fuel, ex-VAT) down 2.8% (2012/13: down 2.1%)(1)
· Underlying profit before tax down 13% to £785m (2012/13: £901m)(2)
· Non-recurring exceptional costs of £903m
· Loss before tax £176m (2012/13: profit of £879m)
· Earnings per share (10.2)p (2012/13: 26.7p)
· Underlying earnings per share down 8% to 25.2p (2012/13: 27.3p)
· Final dividend of 9.2p. Total dividend for the year up 10% to 13.0p (2012/13: 11.8p) in line with guidance
· Net debt £2,817m (2012/13: £2,181m) after capital investment of £1,086m (2012/13: £1,016m)

 

Operating highlights 

· Morrisons.com launched in January 2014 – performing ahead of plan
· Over 100 M local convenience stores now trading; second convenience distribution centre now operational
· IT systems programme development progressing well – providing platform for significant future cost savings
· 18 new supermarkets opened(3)
· Fresh Formats – tailored fresh food proposition now in over 200 stores
· 6,500 Own Brand products successfully launched in year; own label conversion programme complete
· Vertical integration – good progress in expanding manufacturing capability
· £300m, three year cost saving targets delivered

 

Strategic update 

Comprehensive strategic review completed
* Enhanced focus on core supermarket business
– major investment in proposition; £300m in 2014/15
– £1bn of self help over three years identified – implementation underway
* Acceleration of new channel development – online and convenience
* Planned exit from non-core activities, including Kiddicare and Fresh Direct
* Property review completed
* New space pipeline reassessed
* Total non-recurring costs of £0.9bn

Resulting in:

* Stronger value leadership and a customer winning proposition
* Rebased profit outlook
* Strong balance sheet
– strong investment grade credit rating
– predominantly freehold property estate maintained
*Substantial cash flow generation
– £1bn over three years from operating improvements, working capital and reduced capex
– £1bn of property disposals over three years
*Generation of meaningful shareholder value over the medium term
– commitment to 5% minimum increase in dividend for 2014/15 and a progressive and sustainable dividend thereafter
– return of surplus capital as appropriate

 

Commenting on the results, Sir Ian Gibson, Chairman, said:

“In trading terms this has been a disappointing year for Morrisons, with consumer confidence and market conditions continuing to be challenging. It has however been a period of significant strategic progress as we lay the foundations for a stronger future. Our financial position remains strong.

The review of our business undertaken by the Board, underpins our confidence in Morrisons strategic direction and the long-term prospects of the business. This is reflected in an increased dividend for the year ended 2 February 2014, in line with our previous commitment and consistent with our progressive dividend policy.

In respect of the year ending 1 February 2015 the Board anticipates that the total annual dividend will be not less than 13.65p. Thereafter we expect dividends to grow more slowly than earnings, as dividend cover rebuilds towards our target level of around two times.”

 

Dalton Philips, Chief Executive, said:

“The strategy we are announcing today is a bold and comprehensive response to the fundamental structural changes that are taking place in grocery retail.

We are significantly reducing our cost base and will invest £1bn into our proposition over the next three years, to improve our value even further and to defend and strengthen our competitive position. Customers will see this in our stores as well as in our fast growing online and convenience offers. At the same time we will exit non-core activities, significantly reduce our capital expenditure and deliver improved operating cashflow and return on capital employed.

Together with the strategic value of our vertically integrated supply chain, these measures will provide a firm foundation from which to provide outstanding value to our customers and to generate meaningful shareholder returns over the medium term.

I’m confident that Morrisons will emerge from this period of necessary change as a more focused, more distinctive value leader and well positioned to compete sustainably in the new grocery landscape.”

Outlook

We will continue to implement a wide range of measures to address the sales performance of the business and progress our strategic initiatives. Our expectations are that the challenging consumer and market environment we saw in 2013 will persist through the coming year. Our profit expectations reflect this, and our determination to be a stronger value leader for our customers. At this early stage in the year, we anticipate that underlying profits(4) in 2014/15 will be in the range of £325m – £375m, after charging £65m of new business development costs and £70m of one-off, non-recurring costs.

Enquiries

Wm Morrison Supermarkets PLC
Trevor Strain 0845 611 5000

Investor Relations
Niall Addison 07764 624701
Media

Wm Morrison Supermarkets PLC:
Richard Taylor 0845 611 6912

Julian Bailey 07969 061092

Citigate Dewe Rogerson:
Simon Rigby 020 7638 9571

Lindsay Noton 020 7638 9571

 

Unless otherwise stated all results for 2013/14 relate to the 52 weeks ended 2 February 2014 and 2012/13 results are for the 53 weeks ended 3 February 2013.

Notes

1 52 weeks to 2 February 2013 compared to 52 weeks to 3 February 2013

2 Underlying profit before taxation, property transactions, multi-channel development costs, non-recurring exceptional write downs and IAS19 pension interest

3 Including one replacement store: excluding convenience stores

4 Based on revised definition of underlying earnings, which excludes property transactions and IAS19 pension interest only

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Contract extension: Wincor Nixdorf to provide hardware service for the self-service systems of Stadtsparkasse Düsseldorf

Paderborn, Germany, 2014-3-14 — /EPR Retail News/ — Wincor Nixdorf will provide hardware service for the self-service systems of Stadtsparkasse Düsseldorf for another three years. A master agreement on the replacement of all self-service systems that are not Windows 7-compatible by 2016 has also been concluded.

Stadtsparkasse Düsseldorf has been a customer of Wincor Nixdorf for more than 25 years – both in the self-service area and service for its systems. Now the service agreement was renewed. The IT company remains the sole contact for maintenance and repairs for all self-service systems – automated teller machines, cash recycling systems, statement printers and automated teller safes (ATSs) from different vendors. Wincor Nixdorf meets Stadtsparkasse Düsseldorf’s wish to ensure maximum availability rates for all self-service systems at particularly highly frequented locations and to rectify problems in less than four hours.

Problem reports are passed directly from the ticket tool of Stadtsparkasse Düsseldorf, to Wincor Nixdorf’s ticket system. As a result, the entire recovery process is sped up and process costs cut. The savings bank can then track the tickets electronically.

“The quality of service delivery and related cost savings persuaded us to renew the agreement,” said Thomas Linden, Director of Organization at Stadtsparkasse Düsseldorf.

The additional master agreement covers replacement of self-service systems that are not Windows 7-compatible. Wincor Nixdorf’s services include rollout, software installation at the factory, installation planning, commissioning and all construction measures to replace the old systems.

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