NRF tells congressional panel the retail industry is committed to safeguarding and protecting consumer data

NRF Pursues Establishment of Retail Information Sharing and Analysis Center

WASHINGTON, 2014-4-16 — /EPR Retail News/ — The National Retail Federation today told a congressional panel that the retail industry is committed to safeguarding and protecting consumer data and information from highly-motivated and sophisticated cybercriminals and hackers.

“Retailers make significant investments every year in order to protect [consumer] data,” NRF Vice President for Retail Technologies Tom Litchford testified. “Collectively, retailers spend billions of dollars annually to safeguard data and fight fraud, as well as hundreds of millions annually on [credit card security] compliance.”

Litchford testified before a field hearing of the House Homeland Security Subcommittee on Cybersecurity, Infrastructure Protection, and Security Technologies, where he outlined specific steps that the nation’s retailers are pursuing and implementing to identify, prevent and combat cyberattacks.

He described NRF’s steadfast support for immediately transitioning away from fraud-prone credit cards that utilize 1960s technology (magnetic-stripe and signature) to more advanced and secure cards that incorporate a Personal Identification Number or PIN, or Chip and PIN cards that include a computer microchip.

PIN-based cards, along with data encryption and tokenization, would help prevent cybercriminals from monetizing consumer financial information and provide better fraud protection for retailers, banks and consumers than proprietary Europay, MasterCard and Visa or EMV technology that does not require the use of a PIN.

“Chip and PIN technology dramatically reduces the value of any stolen ‘breached’ data for in-store purchases because the payment card data is essentially rendered worthless to criminals,” Litchford said. “The failure of U.S. card networks and banks to adopt such a system in the United States is one reason why cyberattacks on brick-and-mortar retailers have increased.”

Litchford went on to state that the nation’s retailers are pursuing the establishment of a Retail Information Sharing and Analysis Center, or Retail ISAC, that would provide retailers and merchants (NRF members and non-members) with actionable and timely threat intelligence to help identify and mitigate cyber risks.

“The retail industry is in a particularly good position to both benefit from and bring value to information sharing with outside organizations and entities,” Litchford said as he described NRF’s recent interaction with the United States Secret Service, United States Computer Emergency Readiness Team, iSightPartners and the Financial Services ISAC on cyber threats.

“NRF is currently in the planning stages with respect to a final step in the development of the Retail ISAC: the establishment of the technological and operational infrastructure to support a secure portal through which members can share information,” Litchford said. “NRF’s goal is to allow credentialed [Retail ISAC] members to share information of varying levels of sensitivity anonymously, thus allowing the Retail ISAC to act as a repository of critical threat, vulnerability and incident information that is sourced from various members and outside organizations, and to facilitate peer-to-peer collaboration with the sharing of risk mitigation best practices and cybersecurity research papers.”

Acknowledging that there is no silver bullet to combating cybercrime, NRF called on Congress to support the retail industry’s efforts on data security and cybersecurity by passing the Cyber Intelligence Sharing and Protection Act (H.R. 624) or CISPA, which would further encourage businesses and retailers to share information across sectors on cyber threats in real time.

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

Contact:
Stephen Schatz or Bethany Aronhalt (855) NRF-PRESS
Press@NRF.com

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BRC-KPMG ONLINE RETAIL SALES MONITOR MARCH 2014: UK Online sales of non-food products grew 12.8% in March vs last year

LONDON, 2014-4-16 — /EPR Retail News/ — Online sales of Non-Food products in the UK grew 12.8% in March versus a year earlier. In March 2013, they had increased by 6.2% over the previous year.

In March, online sales represented 17.3% of total Non-Food sales of our Monitor, against 15.8% in March 2013.

Furniture saw a decline, while the Other Non-Food category was the strongest contributor to growth. Excluding online, that category would have seen no growth.

Online sales contributed 1.6 percentage points to the growth of Non-Food total sales, one of the highest contributions outside Christmas, flattered by a low base in March 2013, which included Easter.

Helen Dickinson, Director General, British Retail Consortium, said: “The long Easter holiday often provides consumers with an opportunity to go out to visit the shops and so the lateness of the break this year has helped to contribute to a growth in online sales.

“Online made up 17.3 per cent of total non-food sales this month. The contribution to overall growth of non-food, at 1.6 per cent, is also one of the biggest boosts we have seen from online sales outside the Christmas period. Electrical items and other non-food performed particularly strongly.
“Those retailers who have developed compelling internet and multi-channel offers will have been seen good results in March. To understand the full underlying trend, it will be important to see April’s results as well.”

David McCorquodale, Head of Retail, KPMG, said: Whilst store sales suffered from Easter falling into April this year, online benefitted from this lack of distraction: sales increased by 13 per cent on last year’s levels when the bank holiday tempted shoppers away from their devices.

These figures demonstrate that sometimes what hurts the high street helps online sales, but only those retailers with strong multichannel operations will feel the benefits. If the weather holds, this trend could reverse next month, with online sales growth slowing, whilst the high street sees an uptick in footfall as people head out to enjoy the bank holiday.

Another contributing factor to this year on year rise is consumers’ ever increasing access to 4G technology. 4G makes the online shopping experience faster and far more reliable by reducing drop-out rates. This technological advance means transactions can be completed more successfully and should encourage more consumers to opt for the convenience of mobile shopping, driving the shift from in store to online.

British Retail Consortium, 21 Dartmouth Street, Westminster, London, SW1H 9BP. 020 7854 8900. info@brc.org.uk.

The BRC and Expense Reduction Analysts form partnership to deliver top level savings for retailers and manufacturers’ bottom lines

“The BRC and Expense Reduction Analysts launch partnership to deliver top level savings for retailers and manufacturers’ bottom lines.”

London, UK, 2014-4-16 — /EPR Retail News/ — The BRC and Expense Reduction Analysts (ERA) have formed a partnership that will be extremely advantageous to many retailers and manufacturers. The BRC is particularly pleased to add the company’s expertise to its list of business services available to retail members and manufacturers.

ERA helps organisations to save money and boost business performance through effective procurement, improved supplier management and smarter spending. ERA’s sector specialists build long-term relationships with medium to large organisations, going beyond short-term gains to deliver objective analysis, informed market expertise and continued financial benefits.

Established for over 20 years, ERA use their deep understanding of the key issues facing retailers and manufacturers to produce programmes that are truly tailored to specific needs of their clients.

With over 150 Specialist Procurement Advisors in the UK, ERA is able to offer dedicated specialists with a thorough knowledge of various expenditure categories and a passion to find solutions that meet the most precise client needs.

The core philosophy is to achieve cost reductions without compromising quality or service; most clients experience a noticeable improvement to their procurement processes.

Mark Proctor Chief Executive Officer said: “We were very impressed by the high standard of procurement services being offered by Expense Reduction Analysts. I am very pleased to be working with ERA to ensure that our members have access to these services to save them money through professional and effective procurement, improved supplier management and smarter spending habits. This partnership will provide numerous benefits to our retail members and our certificated sites.”

Notes to Editors:

About the British Retail Consortium (BRC)
The British Retail Consortium (BRC) is the UK’s leading retail trade association. It represents the full range of retailers, large and small, multiples and independents, food and non-food, online and store based.

About the BRC’s Global Standards
BRC Global Standards are the world’s biggest provider of safety and quality Standards’ Programs for food manufacture, packaging, storage and distribution. BRC Global Standards are generated with the help of technical specialists, retailers, manufacturers and certification bodies from around the world, so everything is based on practicality, rigour and clarity.

The BRC Global Standards certification scheme offer comprehensive support to help new and established businesses to achieve and maintain their quality and safety aims.

For more information please visit www.brcglobalstandards.com

Media Contacts:
BRC Press Office 020 7854 8924 / 07921 605544
Information for Editors

About Expense Reduction Analysts (UK) Ltd.
Registered in England and Wales: No.03225310 – Managing Director: Robert Allison

Established in the UK in 1992, Expense Reduction Analysts is a leading cost management consultancy dedicated to reducing costs and improving profits through our tailored cost, purchase and supplier management™ service.

Each year, Expense Reduction Analysts support businesses through the facilitation of detailed cost management practices. Our network of over 150 consultants provides cost reduction expertise, maximising return on investment for our clients.

For more information on Expense Reduction Analysts, please contact Expense Reduction Analysts’ Marketing Department: +44 (0)2380 829 737 or visit www.expense-reduction.co.uk

Willis, Faber Global, XL Group and BRC Global Standards launch product contamination insurance ‘Recall Shield’ for the food and beverages sector

‘Recall Shield’ to provide food and beverage companies with enhanced cover and additional benefits to encourage and reward higher standards

London, UK, 2014-4-16 — /EPR Retail News/ — Willis Group Holdings (NYSE:WSH), the global risk adviser, insurance and reinsurance broker, today announces the launch of a new product contamination insurance proposition, in partnership with XL Group, Willis Limited’s Food and Drink and Faber Global teams, and in association with BRC Global Standards – the world’s biggest provider of safety and quality standards programmes for the food and beverages sector.

Recall Shield has been designed with the BRC Global Standards team to encourage and reward higher standards within the food and beverage industry. It is available exclusively to manufacturers that have attained an A or A+ grade against the BRC Global Standard for Food Safety across all of their sites.

Recall Shield includes added protection for companies through XL Group’s product contamination insurance offering which includes ‘Response XL’, a pro-active crisis and risk management service delivered by retained, specialist consultants.

The exclusive scheme, via Willis and Faber Global, offers greater protection with enhanced coverage and a number of additional benefits, including:

– Pre-incident consulting and training workshops from crisis management
specialists
– Discounted premiums
– Free BRC training courses
– Free insurance protection audit from the Willis Food and Drink Practice Group

Simon Bridgwater, Willis Food and Drink Industry Practice Leader, commented:

“Improving safety standards in the industry has never been more important, and now businesses that demonstrate a safer environment can also be rewarded with comprehensive insurance coverage and competitive premiums. We hope this will encourage more companies to take protection against these potentially catastrophic events.”

Mark Hutton, UK Underwriting Manager – Product Recall, XL Group, added:

“In the food and beverage industry, a product recall can be costly. There are the financial costs associated with replacing and destroying the stock, but also the loss of consumer confidence and resulting loss of shareholder value can prove far more costly. The rise of social media means that news of a recall can spread like wild fire so it is critical that companies have the right support in place. We understand this and wanted our clients to get more than financial risk transfer, so we developed Response XL which provides all our product recall clients with 24/7 access to our specialist crisis, risk and issues management consultants.

“Today, the solution created with Willis, Faber Global and the BRC, rewards companies that understand their risks and display the highest standards of safety with a really compelling insurance solution.”

Mark Proctor, Chief Executive Officer of BRC Global Standards, said:

“We are delighted to be partnering with these leading global insurance and risk specialists to offer this exclusive product recall insurance to our A and A+ grade certificated manufacturing sites. We strongly believe Recall Shield will provide enhanced cover and encourage higher standards within food manufacturing.”

ENDS

About Willis
Willis Group Holdings plc is a leading global risk adviser, insurance and reinsurance broker. With roots dating to 1828, Willis operates today on every continent with more than 18,000 employees in over 400 offices. Willis offers its clients superior expertise, teamwork, innovation and market-leading products and professional services in risk management and transfer. Our experts rank among the world’s leading authorities on analytics, modelling and mitigation strategies at the intersection of global commerce and extreme events. Find more information at our website, www.willis.com, our leadership journal, Resilience, or our up-to-the-minute blog on breaking news, WillisWire. Across geographies, industries and specialisms, Willis provides its local and multinational clients with resilience for a risky world.

About XL Group plc’s Insurance Operations
XL Group plc’s insurance companies offer property, casualty, professional and specialty insurance products globally. Businesses that are moving the world forward choose XL as their partner. To learn more, visit xlgroup.com/insurance.

About XL Group plc
XL Group plc (NYSE:XL), through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. XL is the company clients look to for answers to their most complex risks and to help move their world forward. To learn more, visit xlgroup.com

XL Group is the global brand used by XL Group plc’s insurance and reinsurance subsidiaries.

About the BRC’s Global Standards
BRC Global Standards are the world’s biggest provider of safety and quality Standards’ Programs for food manufacture, packaging, storage and distribution. BRC Global Standards are generated with the help of technical specialists, retailers, manufacturers and certification bodies from around the world, so everything is based on practicality, rigour and clarity.

The BRC Global Standards certification scheme offer comprehensive support to help new and established businesses to achieve and maintain their quality and safety aims.

For more information please visit the BRC Global Standards website

Marissa Webb appointed Creative Director and EVP of Design at Banana Republic

Esteemed fashion designer brings fresh perspective to the brand’s legacy of Modern American Style

SAN FRANCISCO, 2014-4-16 — /EPR Retail News/ — Gap Inc. (NYSE: GPS) today announced that Banana Republic has named Marissa Webb as Creative Director and Executive Vice President of Design, effective April 28. She will be responsible for guiding the brand’s overall creative direction, as well as leading global product design for Banana Republic Women’s, Men’s, and Accessories.  Marissa will report to Global President of Banana Republic, Jack Calhoun.

“I am so excited for Marissa to bring her own special touch to the brand,” said Calhoun. “What she delivers today is so fresh and relevant, I know her design sensibility will move Banana Republic forward in our effort to deliver Modern American style. I can’t wait to have her on board.”

A celebrated fashion designer, Marissa Webb is most recently known for her eponymous upper contemporary label. Prior to branching out on her own during 2011, she spent time at Polo, Club Monaco and over a decade at J. Crew Group Inc., where she served in various design roles, including Head of Womenswear and Accessories Design.  Webb will retain her role as President and Creative Director at Marissa Webb (M Webb LLC), in addition to her newly appointed role at Banana Republic. Webb’s first collection for Banana Republic is expected in the summer of 2015.

“I’m thrilled to be joining the extremely passionate, talented design and creative teams at Banana Republic,” said Webb. “The brand has such a beautiful history which I truly admire. This is an amazing opportunity for me to combine my unique vision with a brand that has such a strong legacy.  I’m excited to be joining Banana Republic and being able to make an impact for our modern customer.”

Gap Inc. also announced that it intends to join M Webb LLC’s minority investors by investing in the Marissa Webb label. Initially launched exclusively at Barneys New York, the Marissa Webb Collection is now available in over 30 stores globally, inclusive of select locations within Gap’s Intermix division, as well as online. Calhoun will work with Webb as a strategic partner in the growth and development of her business.

Forwarding-Looking Statements
This press release contains forward-looking statements within the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Words such as “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “project,” and similar expressions also identify forward-looking statements. Forward-looking statements include statements regarding Gap Inc.’s intent to invest in M Webb LLC.

Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause the company’s actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, risks related to an investment by Gap Inc. in M Webb LLC.

Additional information regarding factors that could cause results to differ can be found in the company’s Annual Report on Form 10-K for the fiscal year ended February 1, 2014, as well as the company’s subsequent filings with the Securities and Exchange Commission.

These forward-looking statements are based on information as of April 15, 2014. The company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.

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

About M Webb LLC
Marissa Webb has always had an intimate and creative relationship with fashion. A graduate of FIT, her talents have been recognized by the fashion world for over 15 years. Her eponymous label exemplifies Marissa’s individual style and personality and appeals to the woman who appreciates timeless fashions but maintains the confidence to incorporate contrasting and unexpected pieces. Marissa’s innovative designs embody a playful feminine elegance while integrating hits of cool masculine edge combined with a taste for fine quality. For more information, please visitwww.marissa-webb.com.

GAP Inc. outlined strategic initiative to achieve long-term, profitable growth across its brands portfolio at its annual investor meeting

Brand Presidents Highlighting Strategies to Drive Product Innovation and Strengthen Brand Value Propositions

SAN FRANCISCO, 2014-4-16 — /EPR Retail News/ — As part of its annual investor meeting, Gap Inc. (NYSE: GPS) today is providing an overview of its strategic initiatives designed to achieve long-term, profitable growth across its portfolio of brands. The company also will highlight its use of technology, innovation and scale as competitive advantages as it makes progress toward bridging the growing digital world with its physical stores to create world-class shopping experiences for its customers.

“We have the world’s best collection of American brands coupled with a strong economic model and runway for global growth,” said Glenn Murphy, chairman and chief executive officer, Gap Inc. “As the retail landscape evolves, we continue to deliver on our omni-channel roadmap and focus on owning the shopping experience of the future.”

The company will discuss its plans to continue driving online growth by leveraging technology and innovation combined with top talent to deliver new digital capabilities to customers and make further progress in mobile, personalization and loyalty programs.

Building upon its current omni-channel suite – including reserve in store, find in store and ship from store – later this year, the company will be testing its new order in store capability, which allows customers instant access to expanded product offerings online. Further, the company is announcing the expansion of its reserve in store service to all Gap stores in the United States by the end of the second quarter, enabling online and mobile shoppers to now reserve items at more than 1,000 Gap and Banana Republic store locations.

In addition to its industry-leading omni-channel capabilities, the company will reaffirm its intention to fuel growth and gain share in the $1.4 trillion global apparel market. Murphy and company executives will discuss plans to grow through expansion in Asia, as well as in its global outlet, online and franchise channels. The company also is excited about the long-term potential of its fast-growing Athleta brand.

Building on Old Navy’s recent debut in mainland China and Gap’s growing store base in the world’s second largest apparel market, the company will highlight China as its largest growth initiative where it expects sales to reach $1 billion in three years.

Gap Inc. leaders also will discuss progress against its move to a seamless inventory model and a more responsive global supply chain, both designed to fulfill customer demand with increased speed and flexibility, while unlocking revenue and gross margin potential.

“In the next five years, we plan to leverage our scale to drive our strategic initiatives – including global growth plans, omni-channel strategies, a seamless inventory model and fully responsive supply chain. We expect these initiatives to contribute meaningfully to our revenue growth and operating profit,” Murphy added.

As it has the last number of years, the company also will underscore its continued commitment to delivering against long-term financial objectives.

“Our goal is to strike a good balance between growing the top and bottom line, as well as returning excess cash to shareholders,” said Sabrina Simmons, executive vice president and chief financial officer, Gap Inc. “Over the past five years, we have increased revenue $1.6 billion, grown EPS at a 15 percent compound annual growth rate and returned an average of $1.6 billion in cash per year via share buybacks and dividends.”

“We have a strong financial track record and we remain focused in our approach to drive value – by driving revenue growth with healthy merchandise margins and leveraging expenses to expand operating margin, as measured on a full year basis,” Simmons added.

In addition to Murphy and Simmons, the following Gap Inc. leaders are slated to provide updates during today’s meeting (in the following order):

  • Art Peck, President, Growth, Innovation and Digital
  • Sonia Syngal, Executive Vice President, Global Supply Chain
  • Tom Keiser, Executive Vice President, Global Product Operations
  • Jeff Kirwan, President, Greater China
  • Steve Sunnucks, Global President, Gap
  • Jack Calhoun, Global President, Banana Republic
  • Stefan Larsson, Global President, Old Navy

A live webcast is accessible on Gap Inc.’s Financial News and Events page at www.gapinc.com/investors from 10:00 a.m. Pacific Time until about 2:30 p.m. Pacific Time today. In addition, audio of this meeting can be accessed by calling 1-855-5000-GPS or 855-500-0477 for domestic callers and 913-643-0954 for international callers. The conference passcode is 8783693. A replay of this event will be available on www.gapinc.com.

Follow the event on Twitter at http://twitter.com/gapinc. The Twitter cashtag for the event is $GPS.

Forward-Looking Statements
This press release, related investor conference and webcast, and related investor day materials, including Twitter and other social media postings made during the Investor Day conference, contain forward-looking statements within the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Words such as “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “project,” and similar expressions also identify forward-looking statements. Forward-looking statements include statements regarding:

  • international growth, including store openings and expansion in Asia through global outlet, online and franchise channels;
  • revenue in China, across all brands and channels, in the next three years;
  • the impact of global growth strategies on revenue growth and margins;
  •  returning excess cash to shareholders;
  • driving revenue and comp growth with healthy merchandise margins;
  • leveraging expenses to drive operating margin expansion;
  • increasing investments in our supply chain and omni-channel capabilities and the expected impact on our financial results;
  •  total square footage increase in 2014;
  • number of franchise store locations to be added in 2014, including Old Navy franchise store openings in the Philippines, and the total number expected by the end of 2014;
  • responsive supply chain, including deploying inventory management tools in 2014, and the impact on merchandise margins and inventory management;
  • annual dividend per share for fiscal 2014;
  • maintaining enough cash to fund our working capital needs and hold a reserve;
  • omni-channel, including expansion of reserve in store and launch of additional omni-channel capabilities, and the impact on sales and margins;
  • number of Athleta store openings in 2014, and total Athleta store count at the end of 2014;
  • seamless inventory, including the timing of testing and launch of seamless inventory into one global brand and eventual launch across all global brands, and the impact on sales, margins, and inventory;
  • sales growth and the opening of additional stores in key markets for franchise, including in new countries and with franchise partners; and
  • expected financial results for fiscal year 2014.

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

  • the risk that changes in global economic conditions or consumer spending patterns could adversely impact our results of operations;
  • the highly competitive nature of our business in the United States and internationally;  the risk that we or our franchisees will be unsuccessful in gauging apparel trends and changing consumer preferences;
  • the risk that if we are unable to manage our inventory effectively, our gross margins will be adversely affected;
  • the risks to our efforts to expand internationally, including our ability to operate under a global brand structure, foreign exchange, and operating in regions where we have less experience;
  • the risks to our business, including our costs and supply chain, associated with global sourcing and manufacturing;
  • the risks associated with importing merchandise from foreign countries, including failure of our vendors to adhere to our Code of Vendor Conduct, could have a negative impact on our reputation or operations;
  • the risk that trade matters could increase the cost or reduce the supply of apparel available to us and adversely affect our business, financial condition, and results of operations;
  • the risk that our franchisees’ operation of franchise stores is not directly within our control and could impair the value of our brands;
  • the risk that we or our franchisees will be unsuccessful in identifying, negotiating, and securing new store locations and renewing, modifying, or terminating leases for existing store locations effectively;
  • the risk that comparable sales and margins will experience fluctuations;
  • the risk that the failure to attract and retain key personnel could have an adverse impact on our results of operations;
  • the risk that our investments in omni-channel shopping initiatives may not deliver the results we anticipate;
  • the risk that updates or changes to our information technology (“IT”) systems may disrupt our operations;
  • the risk that we are subject to data or other security breaches that may result in increased costs, violations of law, significant legal and financial exposure, and a loss of confidence in our security measures, which could have an adverse effect on our results of operations and our reputation;
  • the risk that natural disasters, public health crises, political crises, or other catastrophic events could adversely affect our operations and financial results, or those of our franchisees or vendors;
  • the risk that changes in the regulatory or administrative landscape could adversely affect our financial condition, strategies, and results of operations;
  • the risk that we do not repurchase some or all of the shares we anticipate purchasing pursuant to our repurchase program; and
  • the risk that we will not be successful in defending various proceedings, lawsuits, disputes, claims, and audits.

Additional information regarding factors that could cause results to differ can be found in the company’s Annual Report on Form 10-K for the fiscal year ended February 1, 2014, as well as the company’s subsequent filings with the Securities and Exchange Commission.

These forward-looking statements are based on information as of April 16, 2014. The company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.

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

Foodstuffs private label Pams recognised in the international Vertex Awards for its creative packaging designs

Waiheke, New Zealand, 2014-4-16 — /EPR Retail News/ — Pams flour packaging won the prestigious “Best in Show” award and took out Gold in Packaged Goods category, and was described by the judges as capturing “a sense of baking nostalgia with familiar baking icons and charming fabrics woven from another time of wisdom and practicality.” They felt the packs portrayed a “wonderfully wholesome” feel that was both a “refreshing and delightful take on a basic everyday item”.

Other Pams products also received recognition and were awarded Gold in their categories including Pams milk, cream and butter in the Fresh Category, Pams premium ice cream in Frozen and in Body Care, Pams baby range also excelled.

Jocelyn McCallum, National Private Label Manager, Foodstuffs Own Brands Limited says, “The Pams packaging is constantly evolving to ensure it resonates with our customers. Brother Design listened to our vision, challenged us and encouraged us to push the boundaries and we think they really managed to capture the essence of our brand.”

To have a Kiwi brand outshine designs created for global retail giants such as Tesco and Lidl from Europe, America’s Safeway or Australia’s Woolworths is confirmation that not only are Foodstuffs great retailers, but when we team up with experts such as Brother Design, we can lead the world in key areas such as packaging, says McAteer.

“To have the Pams brand receive such international recognition makes the team immensely proud and is confirmation of the calibre of the work we do. We want to continue to surprise and delight our customers with the Pams brand and we know continued collaboration with Brother Design to deliver fresh, creative packaging is one way we can enhance our customers experiences.”

Private label products make up approximately 13% of Foodstuffs total grocery sales with Pams contributing 8.5%. Private label is considered a really important brand offering as it gives customers the ability to buy high quality products prices at affordable prices. Foodstuffs has no plans to increase the level of market share of its private label products Pams and Budget.

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Foodstuffs private label Pams recognised in the international Vertex Awards for its creative packaging designs

Foodstuffs private label Pams recognised in the international Vertex Awards for its creative packaging designs

Kimco Realty Corp. announced f $500 million public offering notes due 2021 at 3.20% per annum

NEW HYDE PARK, N.Y., 2014-4-16 — /EPR Retail News/ — Kimco Realty Corp. (NYSE: KIM) yesterday announced its public offering of $500 million notes due 2021 at a coupon of 3.20% per annum with an effective yield of 3.232%, maturing May 1, 2021. The company intends to use the net proceeds of approximately $495.4 million from the offering for general corporate purposes, including to (i) partially reduce borrowings under its revolving credit facility maturing in October 2018, which borrowings bear interest at a rate of one-month LIBOR plus 0.925%, and (ii) pre-fund near-term maturities, including one or more of its (a) $100 million aggregate principal amount of 5.95% Senior Notes due June 2014, (b) $194.6 million aggregate principal amount of 4.82% Senior Notes due June 2014 and (c) $97.6 million of mortgage debt maturing during the remainder of 2014 with a weighted average interest rate of 6.14%. In connection with the issuance, the company modified the terms of the unencumbered total asset value maintenance covenant governing the notes so that, for the purposes of calculating the covenant, the company will exclude from total assets its investments in unconsolidated joint ventures and include in total assets the company’s proportionate interest in the aggregate undepreciated book value of the real estate assets of such unconsolidated joint ventures that are unencumbered. Settlement of the offering is subject to customary closing conditions and is expected to occur on April 24, 2014.

Citigroup Global Markets Inc., UBS Securities LLC, Wells Fargo Securities, LLC, Deutsche Bank Securities Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated served as the joint book-running managers for this offering. J.P. Morgan Securities LLC, PNC Capital Markets LLC and RBC Capital Markets, LLC served as the senior co-managers. Barclays Capital Inc., BB&T Capital Markets, a division of BB&T Securities, LLC, BBVA Securities Inc., Morgan Stanley & Co. LLC, Regions Securities LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc. and U.S. Bancorp Investments, Inc. served as the co-managers.

The offering was made pursuant to an effective shelf registration statement, prospectus and related prospectus supplement. Copies of the prospectus supplement and the base prospectus, when available, may be obtained by contacting Citigroup Global Markets Inc. toll-free at 1-800-831-9146, UBS Securities LLC toll-free at 1-877-827-6444, ext. 561-3884 or Wells Fargo Securities, LLC toll-free at 1-800-326-5897.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

ABOUT KIMCO
Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that owns and operates North America’s largest portfolio of neighborhood and community shopping centers. As of December 31, 2013, the company owned interests in 852 shopping centers comprising 124.5 million square feet of leasable space and 575 other property interests, primarily through its preferred equity investments and other real estate investments totaling 13.2 million square feet of leasable space, for a grand total of 1,427 properties aggregating 137.7 million square feet of leasable space across 42 states, Puerto Rico, Canada, Mexico and South America. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisition, development and management for more than 50 years.

SAFE HARBOR STATEMENT
The statements in this release state the company’s and management’s intentions, beliefs, expectations or projections of the future and are forward-looking statements. It is important to note that the company’s actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from current expectations include, but are not limited to, (i) general adverse economic and local real estate conditions, (ii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business, (iii) financing risks, such as the inability to obtain equity, debt or other sources of financing or refinancing on terms favorable to the company, (iv) the company’s ability to raise capital by selling its assets, (v) changes in governmental laws and regulations, (vi) the level and volatility of interest rates and foreign currency exchange rates, (vii) risks related to the company’s international operations, (viii) the availability of suitable acquisition and disposition opportunities, (ix) valuation and risks related to the company’s joint venture and preferred equity investments, (x) valuation of marketable securities and other investments, (xi) increases in operating costs, (xii) changes in the dividend policy for the company’s common stock, (xiii) the reduction in the company’s income in the event of multiple lease terminations by tenants or a failure by multiple tenants to occupy their premises in a shopping center, (xiv) impairment charges and (xv) unanticipated changes in the company’s intention or ability to prepay certain debt prior to maturity and/or hold certain securities until maturity. Additional information concerning factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the company’s SEC filings, including but not limited to the company’s Annual Report on Form 10-K for the year ended December 31, 2013 and any subsequent Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Copies of each filing may be obtained from the company or the SEC.

The company refers you to the documents filed by the company from time to time with the SEC, specifically the section titled “Risk Factors” in the company’s Annual Report on Form 10-K for the year ended December 31, 2013, as it may be updated or supplemented by subsequent Annual Reports on Form 10-K or Quarterly Reports on Form 10-Q filed with the SEC, which discuss these and other factors that could adversely affect the company’s results.

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CONTACT:
David F. Bujnicki
Vice President, Investor Relations and Corporate Communications
Kimco Realty Corp.
1-866-831-4297
dbujnicki@kimcorealty.com

Kimco Realty won the Lighting Energy Efficiency in Parking campaign award for the largest absolute number of facility upgrades

Company recognized for the most parking facilities upgraded

NEW HYDE PARK, N.Y., 2014-4-16 — /EPR Retail News/ — Kimco Realty Corp. (NYSE:KIM), North America’s largest publicly traded owner and operator of neighborhood and community shopping centers, announced today that it has won the Lighting Energy Efficiency in Parking (LEEP) campaign award for the largest absolute number of facility upgrades. The LEEP campaign recognized Kimco for making the most energy-saving upgrades to parking areas, installing lighting control systems at 160 properties, affecting 51 million square feet of parking surface area, since Kimco launched its proprietary Property Gateway building controls program in 2011.

The LEEP campaign supports and recognizes parking facility owners and operators who have installed energy-efficient lighting solutions. The campaign and associated awards are sponsored by the Department of Energy’s (DOE) Better Buildings Alliance, and organized by the International Facility Management Association (IFMA), the Green Parking Council (GPC) and the Building Owners and Managers Association (BOMA) International.

A real estate leader in energy efficiency initiatives, Kimco developed its Property Gateway building controls program to better manage shopping center utility costs and to reduce the company’s environmental footprint. The multi-phased effort comprises the implementation of standardized equipment at company properties that allows for control of key building systems, and which can be easily operated through a web browser or custom iPad application. The installation of energy-saving lighting controls is Property Gateway’s first stage, and has already yielded 3.6 million in annual kilowatt savings from the initial 160 implementations. This energy reduction translates to $400,000 in cost savings per year that Kimco will apply toward property improvements. The program will address retail tenant needs, irrigation, sub-metering, and video applications in future phases.

“Through the Lighting Energy Efficiency in Parking campaign, the Department of Energy is working with organizations committed to more energy efficient exterior lighting technologies and systems,” said Deputy Assistant Secretary of Energy Efficiency, Kathleen Hogan. “These highly innovative and cost-competitive lighting solutions are helping transform how our nation lights its parking lots and garages.”

“Being recognized with a LEEP award reaffirms Kimco’s decision to partner with the Department of Energy’s Better Buildings Alliance,” said Will Teichman, Kimco’s director of sustainability. “Through this collaboration, we’ve gained key insights that have accelerated the pace of our energy efficiency programs.”

About Kimco
Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that owns and operates North America’s largest publicly traded portfolio of neighborhood and community shopping centers. As of December 31, 2013, the company owned interests in 852 shopping centers comprising 125 million square feet of leasable space across 42 states, Puerto Rico, Canada, Mexico and South America. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 50 years. For further information, please visit www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.

Safe Harbor Statement
The statements in this news release state the company’s and management’s intentions, beliefs, expectations or projections of the future and are forward-looking statements. It is important to note that the company’s actual results could differ materially from those projected in such forward-looking statements. Factors which may cause actual results to differ materially from current expectations include, but are not limited to (i) general adverse economic and local real estate conditions, (ii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business, (iii) financing risks, such as the inability to obtain equity, debt or other sources of financing or refinancing on favorable terms to the company, (iv) the company’s ability to raise capital by selling its assets, (v) changes in governmental laws and regulations, (vi) the level and volatility of interest rates and foreign currency exchange rates, (vii) risks related to our international operations, (viii) the availability of suitable acquisition and disposition opportunities, and risks related to acquisitions not performing in accordance with our expectations, (ix) valuation and risks related to our joint venture and preferred equity investments, (x) valuation of marketable securities and other investments, (xi) increases in operating costs, (xii) changes in the dividend policy for the company’s common stock, (xiii) the reduction in the company’s income in the event of multiple lease terminations by tenants or a failure by multiple tenants to occupy their premises in a shopping center, (xiv) impairment charges and (xv) unanticipated changes in the company’s intention or ability to prepay certain debt prior to maturity and/or hold certain securities until maturity. Additional information concerning factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the company’s Securities and Exchange Commission (SEC) filings. Copies of each filing may be obtained from the company or the SEC.

The company refers you to the documents filed by the company from time to time with the SEC, specifically the section titled “Risk Factors” in the company’s Annual Report on Form 10-K for the year ended December 31, 2013, as may be updated or supplemented in the company’s Quarterly Reports on Form 10-Q and the company’s other filings with the SEC, which discuss these and other factors that could adversely affect the company’s results.

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CONTACT:
David F. Bujnicki
Vice President, Investor Relations and Corporate Communications
Kimco Realty Corporation
1-866-831-4297
dbujnicki@kimcorealty.com

SM Prime Holdings, Inc. secured B+ Global Reporting Initiative application level rating in its sustainability reporting

Pasay City, Philippines, 2014-4-16 — /EPR Retail News/ —  SM Prime Holdings, Inc. (SM Prime) has secured a B+ Global Reporting Initiative (GRI) application level rating in its sustainability reporting, a recognition of its commitment to an integrated sustainable development by addressing economic, environmental, social and governance challenges of its stakeholders.

From a C+ rating last year, SM Prime significantly improved its rating to B+ which means that it has fully reported on at least 20 performance indicators across the disciplines of economic, environment, labor, society and product responsibility, highlighting  the strategic role that sustainability plays in the company’s operations and performance.

Hans T. Sy, SM Prime President, said the whole SM group is extremely delighted by the GRI upgrade because it recognizes and affirms the efforts being undertaken by SM in the communities it serves. “As more malls open under the SM Supermalls brand, SM Prime will further enhance its sustainability approaches, disaster resilience initiatives and corporate social responsibilities,” Mr. Sy said.

GRI is an organization that promotes the use of sustainability reporting as a way for organizations to become more sustainable and contribute to sustainable development. GRI’s Sustainability Reporting Framework is a reporting system that enables all companies and organizations to measure, understand and communicate information on the four key areas of their performance and impacts: economic, environmental, social and governance. GRI’s mission is to make sustainability reporting a standard practice to promote and manage change towards a sustainable global economy.

As a responsible mall developer, SM Prime deemed it necessary to comply with the sustainability reporting guidelines of the GRI, an international organization which sets the benchmark for sustainability reporting. Last year, SM began issuing its Sustainability Report following the (GRI) standards.  ​

Reflecting the company’s advocacy to share awareness in its progress and vision to achieve its sustainability objectives, SM Prime in 2013 reported 37 full disclosures with a variety of economic, environmental and social performance indicators. The report included the economic, social and environmental performance of all its malls in the Philippines and in China, including the newly opened malls in 2013 – SM Aura Premier and SM City BF Paranaque.

Among the areas covered in the report are governance, economic performance and market presence; environmental performance indicators pertaining to energy, water, biodiversity, emissions, effluents and waste, compliance; and social performance indicators pertaining to employee, labor and management relations, occupational health and safety, training and education, diversity and equal opportunity, equal remuneration for men and women, indigenous rights, local communities, customer health and safety and product and service labelling among others.

In its continued pursuit of excellence, SM Prime has operationalized sustainability in its business model to achieve its maximum potential for its stakeholders, business partners and the communities that it serves.

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For further information, please contact:

Ms. Liza B. Silerio
Vice President for Operations
SM Prime Holdings Inc.
E-mail: cristina.penaranda@smsupermalls.com
Tel. No.: 0917 569 5903