NRF marks Imports Work Week with “Rethinking Made in America in the 21st Century” report

Report Say Imports are More ‘Made in America’ Than Label Reveals

WASHINGTON, 2014-5-6 — /EPR Retail News/ — Imported products sold in the United States from clothing to cars contain far more U.S. parts or other content and value and support significantly more American jobs than consumers or policymakers realize, according to a new report prepared for the National Retail Federation.

“This report looks at retailers’ worldwide sourcing of merchandise not just as a global supply chain but as a global value chain,” NRF President and CEO Matthew Shay said. “It shows the value added at each step along the way, not just in manufacturing but from the initial concept to the finished product. Even in a product that says ‘Made in China,’ much of what goes into that product is ‘Made in America.’ That means millions of American jobs for American workers regardless of what the label might say.”

“Rethinking Made in America in the 21st Century” was prepared for NRF by Laura M. Baughman, a well-known Washington economist specializing in international trade and president of The Trade Partnership. The report was released today as part of activities to mark Imports Work Week.

“In a world of global supply chains, does ‘Made in America’ really mean what people think?” Shay and Baughman ask in the introduction to the report. “Unbeknownst to consumers, imported goods with foreign labels often include significant but unrevealed amounts of U.S. content.”

According to the study, apparel products contain more than 70 percent U.S. value on average, some foreign-brand automobiles contain as much as 95 percent U.S. content while no U.S. car has more than 75 percent U.S. content, and the popular Apple iPod contains $162 in American content compared with $4 in Chinese content even though it is labeled “Made in China.”

Of $1.85 trillion in products imported in 2009, $464 billion of the value was American and 10 million U.S. jobs, or 11.2 percent of U.S. employment, were sustained by global supply chains in 2008, the report said.

Product origin labels are misleading because federal law allows a product to be labeled “Made in America” or “Made in USA” only if American manufacturing workers made the product and “all or virtually all” of the value of significant parts and processing that go into the product were made or done in the United States, according to the report. The determination looks only at direct manufacturing costs such as materials, labor and overhead. Non-manufacturing costs such as research and development, product design, marketing and other services are not considered even if all of those activities took place in the United States and were performed by U.S. workers.

The report calls on policymakers to adopt trade policies that recognize the importance of U.S. jobs tied to imported products. It recommends that both U.S. and foreign tariffs be eliminated and that non-tariff barriers such as regulations that treat imported products differently also be removed. Trade facilitation measures affecting issues ranging from customs processing to transportation infrastructure are needed, and trade agreements should “recognize 21st Century global value chains.” The report specifically calls for passage of the Bipartisan Congressional Trade Priorities Act of 2014, which would “support U.S. participation in global value chains and ensure that trade agreements reflect the increasingly interrelated and multi-sector nature of trade and investment activity.”

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.

J. Craig Shearman or Bethany Aronhalt (855) NRF-PRESS
Press@nrf.com
Download Report

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IKEA Group to nominate Lars-Johan Jarnheimer as new chairman of the board from January 2015

Lars-Johan Jarnheimer will be nominated as new chairman of the INGKA Holding B.V Supervisory Board, the board of the IKEA Group, from January 2015.

CONSHOHOCKEN, PA, 2014-5-6 — /EPR Retail News/ — He will succeed Göran Grosskopf who will take on the role as chairman of the owner foundation Stichting INGKA Foundation and its two related foundations Stichting IKEA Foundation (charity) and Stichting IMAS Foundation (management of financial assets).“I am very happy that Lars-Johan is prepared to take on this assignment, says Göran Grosskopf. With his in-depth knowledge of the company and extensive experience from other parts of the business sector he is the right man to lead the board’s work into the future.”

“IKEA is a fantastic company, which I have been fortunate to work with in different roles for many years, says Lars-Johan Jarnheimer. I very much appreciate the combination of entrepreneurial spirit and long-term focus. I look forward to the possibility to further contribute to the growth and success of the group together with all IKEA co-workers.”

Lars-Johan Jarnheimer was previously CEO at Tele2 and is currently a member of the Supervisory Board. Ingvar Kamprad remains senior advisor to the Supervisory Board.

For further information, please contact:
Media relations IKEA Group, +46 723 527 220, ylva.magnusson@ikea.com

About the IKEA Group
The IKEA vision is to create a better everyday life for the many people. Our business idea supports this vision by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them. There are currently 309 IKEA Group stores in 26 countries. IKEA was founded in Sweden in 1943. The IKEA Group employs 135,000 co-workers and the stores had 684 million visitors during FY13.

AHOLD repurchased 1,960,000 AHOLD COMMON SHARES for € 26.99 million between April 28 and May 2, 2014

Zaandam, the Netherlands, 2014-5-6 — /EPR Retail News/ — Ahold has repurchased 1,960,000 Ahold common shares in the period from April 28, 2014 up to and including May 2, 2014.

The shares were repurchased at an average price of € 13.7705 per share for a total consideration of € 26.99 million. These repurchases were made as part of the € 500 million share buyback program announced on February 28, 2013 as increased by € 1.5 billion to a total amount of € 2 billion announced on June 4, 2013.

The total number of shares repurchased under this program to date is 97,925,308 common shares for a total consideration of € 1,256.32 million.

During the share buyback program, Ahold publishes a press release every Monday with a weekly update. Click here to view all the relevant information of these these weekly updates. Separate weekly press releases are available upon request. Please send an email to communications@ahold.com if you would like to receive one or more of these weekly releases.

Retail Industry Leaders Association to highlight essential role of imports in American economy during “Imports Work” week, May 5-9, 2014

Arlington , VA, 2014-5-6 — /EPR Retail News/ — The Retail Industry Leaders Association (RILA) will highlight the essential role that imports play in the American economy during the third annual “Imports Work” week, scheduled from May 5-9, 2014. May has long been recognized as World Trade Month, with many groups taking the opportunity to underscore the role international trade plays in creating American jobs and maintaining the strength of the American economy.

RILA and other business organizations plan to focus on the growing role of global value chains and how increasing flexibility can improve the ability of American companies to compete in the global economy, while benefitting workers and consumers in the domestic market.

“Retailers are well aware of the critical role imports play in the American economy,” said Stephanie Lester, vice president of international trade at RILA. “For the sake of American economic competitiveness, US trade policy should also acknowledge the value of imports and work with the global economy instead of against it.”

Numerous economic studies have been done to show that exports and imports are closely related, and American workers can add substantial value to imported products through the use of global value chains. One study, Analyzing the Value Chain for Apparel Designed in the United States and Manufactured Overseas, found that U.S. workers add more than two-thirds of the actual retail sales value of apparel manufactured overseas. The study also found that the U.S. value-added translates directly into well-paying American jobs in areas such as research, design, logistics, compliance, distribution, and customer service.

“Imports create American jobs and trade policy should be updated to support these imports and the millions of American workers that help to create them and bring them to market,”Lester continued.

Participants in Imports Work Week, including numerous associations, civic organizations, elected officials and members of the administration, plan to reinforce the value that imports hold by conducting seminars, releasing statements, commentaries and blog posts and engaging grass roots and social media activity to extend the message to the American public.

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

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

NACS welcomes Reed Armstrong as its products & services manager

ALEXANDRIA, VA, 2014-5-6 — /EPR Retail News/ — Reed Armstrong has joined NACS as products & services manager. Armstrong comes to NACS after several years as an advisor at Cresa, a corporate real estate firm. Earlier in his career, Armstrong also served as a marketing associate, research & insights consulting, at The Advisory Board Company.Armstrong earned a BA in American studies, with a strong disciplinary focus in business, organizations and society, from Franklin & Marshall College.

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Founded in 1961 as the National Association of Convenience Stores, NACS (nacsonline.com) is the international association for convenience and fuel retailing. The U.S. convenience store industry, with more than 151,000 stores across the country, posted $696 billion in total sales in 2013, of which $491 billion were motor fuels sales. NACS has 2,100 retail and 1,600 supplier member companies, which do business in nearly 50 countries.

SM Prime Holdings, Inc. reported consolidated net income increase of 11% to Php4.58 billion for the Q1-2014

Pasay City, Philippines, 2014-5-6 — /EPR Retail News/ — SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property development companies in Southeast Asia, reported consolidated net income increase of 11% to Php4.58 billion for the first three months of 2014 from Php4.11 billion in the same period last year. Consolidated revenues, rose 3% to Php15.35 billion from Php14.95 billion, year-on-year.

Rental revenues accounted for 56% of the consolidated revenues, and grew by 12% to Php8.56 billion in 2014 from Php7.63 billion same period in 2013. The increase in rental revenue was primarily due to the new malls opened in 2012 and 2013, namely, SM City Olongapo, SM City Consolacion, SM City San Fernando, SM City General Santos, SM Lanang Premier, SM Aura Premier and SM City BF Parañaque, with a total gross floor area of 818,000 square meters. Excluding the new malls and expansions, same-store rental growth is at 7%.

Real estate sales recorded a 17% decrease to Php5.02 billion in 2014 from Php6.01 billion in 2013. The decrease is primarily due to sales take up attributable to only two project launches in 2012 of about 4,600 units from Breeze and Grace Residences compared to the nine project launches in 2010 and 2011 of about 26,700 units mainly from Jazz, Light, Wind, Shell and Green Residences. On the average, it takes about two years before revenues are recognized due to the percentage of completion accounting.

Cinema ticket sales significantly increased by 40% to Php1.06 billion in 2014 from Php0.76 billion in 2013. The increase was due to opening of digital cinemas at the new malls and the showing of local blockbuster movies with 100% sales growth year-on-year. The major blockbusters screened in 2014 were “Starting Over Again,” “Bride for Rent,” “Girl Boy Bakla Tomboy,” “My Little Bossings,” and “Captain America: The Winter Soldier.”

Amusement and other revenues likewise increased by 30% to Php710 million in 2014 from Php546 million in 2013. The increase was mainly due to the opening of new amusement rides in the Sky Ranch in Tagaytay last March 2013 and reopening of ice skating rink in SM Megamall last January 2014.

Consolidated costs of real estate was Php2.93 billion in 2014, representing a decrease of 20% from Php3.65 billion in 2013. The decrease was primarily the result of lower recognized real estate costs in line with the lower real estate sales in 2014 compared to last year.

SM Prime’s consolidated operating expenses increased by 11% to Php5.75 billion in 2014 compared to last year’s P5.18 billion. Same-store mall growth in operating expenses is 7% and the balance is attributable to the opening of new malls and expansions.

Despite the decrease in real estate sales of 17%, gross profit margin for residential improved to 42% in 2014 compared to 39% in 2013. Consolidated marketing and selling expenses decreased by 16% to Php642 million in 2014 from Php761 million in 2013 as part of the SM Prime’s overall rationalization of its cost structure.

“We are off to a good start this year maintaining a steady growth for the first quarter of 2014. As we move towards our 5-year roadmap, we are very optimistic that SM Prime will achieve its targets.” said SM Prime President Mr Hans T. Sy.

SM Prime is an integrated property development company that acts as a catalyst for economic growth, committed to deliver innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

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For further information, please contact:

Ms. Teresa Cecilia H. Reyes
Vice President, Finance
SM Prime Holdings, Inc.
E-mail: teresa.cecilia.reyes@smprime.com
Tel. no.: 831.1000 loc. 7820