J. C. Penney Company, Inc. granted equity inducement award of 223,964 restricted stock units to its EVP & CFO Edward Record

PLANO, Texas, 2014-5-22 — /EPR Retail News/ — In accordance with the New York Stock Exchange rules regarding equity inducement awards, J. C. Penney Company, Inc. (NYSE: JCP) announced that on May 20, 2014, an equity inducement award of 223,964 restricted stock units (RSUs) was granted to Edward Record, the Company’s Executive Vice President and Chief Financial Officer, in connection with the commencement of his employment. The Company previously disclosed these awards in connection with the announcement of Mr. Record’s appointment in February.

The RSUs will vest in thirds on the first, second and third anniversaries, respectively, of the grant date, provided Mr. Record remains continuously employed with the Company through those dates. The award fully vests if Mr. Record is terminated for any reason other than cause, and if his employment terminates in certain cases within two years following a change of control at the Company.

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

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

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

Target Corporation announces $418 million net earnings on its First Quarter 2014 report

First quarter Adjusted EPS of $0.70; GAAP EPS of $0.66

  • First quarter Adjusted EPS of 70 cents was above the mid-point of Target’s prior guidance of 60 cents to 75 cents.
  • Target’s U.S. comparable sales decreased (0.3)% in the first quarter, near the high end of the expected range. Canadian Segment sales were $393 million, up from $86 million last year.
  • The Company returned $272 million to shareholders through dividends in first quarter 2014, representing 65% of net earnings

MINNEAPOLIS, 2014-5-22 — /EPR Retail News/ — Target Corporation (NYSE: TGT) today reported first quarter net earnings of $418 million, or $0.66 per share. Adjusted earnings per share1 were $0.70 in first quarter 2014, a decrease of 13.9 percent from $0.82 in 2013. The tables attached to this press release provide a reconciliation of non-GAAP to GAAP measures. All earnings per share figures refer to diluted earnings per share.

“First quarter financial performance in both our U.S. and Canadian Segments was in line with expectations, reflecting the benefit of continued recovery from the data breach and early signs of improvement in our Canada operations,” said John Mulligan, Interim President and CEO, CFO of Target Corporation. “While we are pleased with this momentum, we need to move more quickly. As a result, we have made changes to our management team and are investing additional resources to drive U.S. traffic and sales, improve our Canadian operations and advance our ongoing digital transformation. We have updated our 2014 earnings expectations to reflect the impact of these investments and believe that they position Target for accelerated profitable growth as a leading omnichannel retailer.”

Fiscal 2014 Earnings Guidance

In second quarter 2014, the Company expects Adjusted EPS, reflecting operating results in its U.S. and Canadian Segments, of 85 cents to $1.00. This measure excludes approximately (2) cents related to the expected reduction of the beneficial interest asset2, as well as any net expenses related to the data breach. For full-year 2014, Target now expects Adjusted EPS, reflecting operating results in its U.S. and Canadian Segments, of $3.60 to $3.90, compared with prior guidance of $3.85 to $4.15. This measure excludes approximately (7) cents related to the expected reduction of the beneficial interest asset2, as well as any net expenses related to the data breach. At this time, the Company is unable to estimate future expenses related to the data breach that occurred in fourth quarter 2013. Expenses may include payments associated with potential claims by the payment card networks for alleged counterfeit fraud losses and non-ordinary course operating expenses (such as card re-issuance costs), REDcard fraud and card re-issuance expense, payments associated with civil litigation, governmental investigations and enforcement proceedings, expenses for legal, investigative and consulting fees, and incremental expenses and capital investments for remediation activities. These costs may have a material adverse effect on Target’s results of operations in second quarter and full-year 2014 and future periods.

U.S. Segment Results

In first quarter 2014, sales increased 0.2 percent to $16.7 billion from $16.6 billion last year, reflecting the contribution from new stores partially offset by a (0.3) percent decrease in comparable sales. Segment earnings before interest expense and income taxes (EBIT) were $1,072 million in first quarter 2014, a decrease of 13.5 percent from $1,239 million in 2013.

First quarter EBITDA and EBIT margin rates were 9.5 percent and 6.4 percent, respectively, compared with 10.4 percent and 7.5 percent in the U.S. Segment in 2013. First quarter gross margin rate was 29.5 percent compared with 30.7 percent in 2013, driven primarily by additional promotional markdowns this year. First quarter SG&A expense rate was 20.0 percent in 2014 compared with 20.3 percent in the U.S. Segment in 2013. This decrease reflects disciplined control of expenses across the organization, including the benefit from Target’s expense optimization efforts, partially offset by a smaller contribution from the credit card portfolio, which raised the SG&A rate by approximately 0.2 percentage points. 3See the “Non-Segment Impacts to Consolidated GAAP Earnings per Share” section of this release for information about certain expenses that were included in the Company’s Consolidated Statements of Operations as SG&A, but were not part of its U.S. Segment results.

Canadian Segment Results

In first quarter 2014, the Canadian Segment generated sales of $393 million, compared with $86 million in first quarter 2013 when Target opened its first 24 Canadian stores. Segment EBIT was $(211) million in the first quarter 2014 compared with $(205) million in 2013.

First quarter 2014 gross margin rate of 18.7 percent reflects the continued impact of efforts to clear excess inventory, including long lead-time receipts. This compares to first quarter 2013 gross margin rate of 38.4 percent, which benefitted from a lack of clearance markdowns due to the short time stores had been open. SG&A expense rate of 55.4 percent in first quarter 2014 compares with 223.9 percent last year, reflecting increased scale in the Canadian Segment and pre-opening costs in last year’s results.

Non-Segment Impacts to Consolidated GAAP Earnings per Share

During fourth quarter 2013, Target experienced a data breach in which an intruder gained unauthorized access to its network and stole certain payment card and other guest information. The Company incurred $18 million of net expense in first quarter 2014, reflecting $26 million of total expenses partially offset by the recognition of an $8 million insurance receivable. This expense does not include any accrual for the potential claims by the payment card networks for counterfeit fraud losses. The amount accrued to date for probable losses on potential payment card network claims consists solely of operating expense reimbursement obligations. At this time the Company is unable to reasonably estimate a range of possible losses on the payment card networks’ potential claims in excess of the amount accrued.

In first quarter 2014, Target announced that, beginning in early 2015, the entire REDcard portfolio will be enabled with MasterCard’s chip-and-PIN solution, and existing co-branded cards will be reissued as MasterCard co-branded chip-and-PIN cards. The Company recorded $13 million of expense in first quarter 2014 related to the decision to convert existing co-branded cards to MasterCard.

Interest Expense and Taxes

Target’s first quarter 2014 net interest expense decreased to $170 million from $629 million in 2013. The year-over-year variance is primarily the result of a $445 million early debtretirement charge in first quarter 2013.

The Company’s effective income tax rate was 34.7 percent in the first quarter, compared with 36.0 percent in first quarter 2013. The decrease of 1.3 percentage points was due to a variety of factors, none of which was individually significant.

Capital Returned to Shareholders

In first quarter 2014, the Company paid dividends of $272 million. Target did not repurchase any shares of its common stock during the quarter, reflecting current performance and the Company’s desire to maintain its strong investment-grade credit ratings.

Accounting Considerations

In first quarter 2013, Target sold its entire U.S. consumer credit card receivables portfolio to TD Bank Group. The net impact of the transaction increased first quarter 2013 GAAP EPS by 36 cents, which includes the benefit of a $225 million beneficial interest asset that was recognized at the close of the sale. This asset effectively represents a receivable for the present value of future profit-sharing Target expected to receive on the receivables sold at the time of the transaction. The Company estimates the asset will be reduced over the four-year period following the close of the transaction, with larger reductions in the early years. The beneficial interest asset was reduced in first quarter 2014 by $18 million, compared with a $17 million reduction in first quarter 2013. Since the close of the transaction, the beneficial interest asset has been reduced by $117 million.

Miscellaneous

Target Corporation will webcast its first quarter earnings conference call at 9:30 a.m. CDT today. Investors and the media are invited to listen to the call through the Company’s website at www.target.com/investors (click on “events & presentations”). A telephone replay of the call will be available beginning at approximately 11:30 a.m. CDT today through the end of business on May 23, 2014. The replay number is (855) 859-2056 (passcode: 37688688).

Statements in this release regarding second quarter and full-year 2014 earnings guidance and the impact of the data breach on the Company’s results of operations are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements speak only as of the date they are made and are subject to risks and uncertainties which could cause the Company’s actual results to differ materially. The most important risks and uncertainties are described in Item 1A of the Company’s Form 10-K for the fiscal year ended February 1, 2014.

In addition to the GAAP results provided in this release, the Company provides Adjusted diluted earnings per share for the three months ended May 3, 2014 and May 4, 2013, respectively. This measure is not in accordance with, or an alternative for, generally accepted accounting principles in the United States. The most comparable GAAP measure is diluted earnings per share. Management believes Adjusted EPS is useful in providing period-to-period comparisons of the results of the Company’s ongoing retail operations. Adjusted EPS should not be considered in isolation or as a substitution for analysis of the Company’s results as reported under GAAP. Other companies may calculate Adjusted EPS differently than the Company does, limiting the usefulness of the measure for comparisons with other companies.

About Target
Minneapolis-based Target Corporation (NYSE: TGT) serves guests at 1,916 stores – 1,789 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.

media contact

Eric Hausman
Public Relations
p: (612) 761-2054

John Hulbert, Investors
p: (612) 761-6627

Target Corporation partners with luxury fashion brand Altuzarra

Limited-edition collection to include apparel, accessories and shoes for the modern, sophisticated woman

MINNEAPOLIS, 2014-5-22 — /EPR Retail News/ — Target Corporation (NYSE:TGT) today announced it is partnering with Altuzarra – a luxury fashion brand known for merging femininity, sophistication and practicality – on a limited-edition collection of women’s ready-to-wear, accessories and shoes. The collection will be available Sept. 14 at most Target stores in the United States and Canada, as well as Target.com. Additionally, an edited assortment of the Target collection will be available globally at NET-A-PORTER.COM.

“As a designer, I believe firmly in the transformative power of fashion. It has the ability to not only change how you look, but also how you feel,” said Joseph Altuzarra, the brand’s designer and creative director. “I’ve admired the elegance that Target brings to fast fashion. By working together on this capsule collection, we hope to instill a sense of power, confidence and beauty in women everywhere.”

The Altuzarra brand is celebrated for embodying a combination of French sophistication and American ease, appealing to refined, independent women. This fall, Altuzarra’s aesthetic arrives at Target, empowering women to discover the transformative power of fashion at affordable prices. The collection features a mix of iconic Altuzarra silhouettes with designs created specifically for Target. It includes nearly 50 items, ranging in price from $17.99 to $89.99 for apparel and lingerie, and $29.99 to $79.99 for shoes and accessories.

“We’re always on the hunt for designers who we believe will inspire our guests,” said Trish Adams, executive vice president of apparel and home, Target. “Joseph’s passion for making women feel confident in their fashion choices is unrivaled, and this fall, Target’s guests can experience his signature style at prices that are almost too good to be true.”

“We are thrilled to be a part of this collaboration with Target and Altuzarra,” states Alison Loehnis, president, NET-A-PORTER.COM. “The collection is everything we have come to expect from Joseph’s aesthetic – chic, sophisticated and modern. We are so excited to offer NET-A-PORTER customers an opportunity to own these fabulous pieces.”

Season after season, the Altuzarra brand continues to grow in popularity, with a strong celebrity following including Jennifer Lawrence, Kate Bosworth, Cameron Diaz, Michelle Dockery and Cate Blanchett, among others. Born in Paris and raised by a Chinese-American mother and French father, Joseph attended Swarthmore College in Pennsylvania and remained in the United States to begin his design career in New York City. His multicultural influences and early work with prominent designers led him to establish his namesake line in 2008. From there, Joseph quickly became a fashion force, receiving numerous prestigious awards and nominations. In January 2010, he was the recipient of the Ecco Domani Fashion Fund Award and Fashion Group International’s Rising Star of the Year Award. He also received the Council of Fashion Designers of America (CFDA)/Vogue Fashion Fund Award in 2011 and the CFDA Swarovski Award for Womenswear Design in 2012. Most recently, he received a nomination for the 2014 CFDA Womenswear Designer of the Year.

More information about Altuzarra for Target is available on ABullseyeView.com. Guests can join in on the conversation on Facebook, Twitter and Instagram using #AltuzarraforTarget.

About Target
Minneapolis-based Target Corporation (NYSE: TGT) serves guests at 1,916 stores – 1,789 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.

About NET-A-PORTER.COM
NET-A-PORTER.COM was launched in June 2000 and has since established itself as the world’s premier online luxury fashion destination. Presented in the style of a fashion magazine, NET-A-PORTER.COM features collections from over 350 of the world’s most coveted designers, including Chloe, Marc Jacobs, Burberry, Miu Miu and Stella McCartney. In 2013, NET-A-PORTER added beauty as a new category. With its acclaimed editorial format, express worldwide shipping to 170 countries (including same-day delivery to Manhattan and London), luxurious packaging and easy returns, NET-A-PORTER.COM offers an unparalleled shopping experience.

media contact

Jessica Carlson
p: (612) 761-6724

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Target Corporation partners with luxury fashion brand Altuzarra

Kristi Argyilan appointed SVP Media and Guest Engagement at Target

MINNEAPOLIS, 2014-5-22 — /EPR Retail News/ — Today Target Corp. (NYSE: TGT) announced it has further strengthened its marketing organization with the hiring of Kristi Argyilan as senior vice president, media and guest engagement.

Argyilan joins the company effective June 2 and will be responsible for leading and integrating the company’s paid, earned, owned and shared media initiatives. Argyilan comes to the Target from IPG Mediabrands where she was most recently the president, Magna Global, North America. She has also held senior positions with advertising and integrated marketing agencies including Arnold, Hill Holiday, and Goodby, Silverstein & Partners.

“Kristi is known nationally as a transformational, digitally savvy marketer. As Target continues to accelerate our efforts to innovate and evolve, her expertise in leveraging today’s dynamic media mix will help us connect with Target’s guests in new and different ways,” said Jeff Jones, executive vice president, chief marketing officer at Target.

“Across our industry, leaders are working to modernize how they connect paid, owned, earned and shared media, and I believe Target has a tremendous opportunity to lead in this evolving space,” says Argyilan.“I’m honored to have been tapped to lead these efforts during what is a remarkable time for Target.”

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.

media hotline

p: (612) 696-3400
e: press@target.com

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Kristi Argyilan

Kristi Argyilan

Darty plc announces trading update for the fourth quarter period from 1 February 2014 to 30 April 2014 and for the financial year ended 30 April 2014

London, UK, 2014-5-22 — /EPR Retail News/ — Darty plc today announces a trading update for the fourth quarter period from 1 February 2014 to 30 April 2014 and for the financial year ended 30 April 2014, based on unaudited management accounts. Reflecting the evolving structure of the Group, all trading data for the prior quarters for the financial year ended 30 April 2014 are restated in an appendix to this statement, as is the segmental analysis for the 12 months ended 30 April 2013.

Summary

Good progress during the quarter, building on actions taken in the year in delivering our strategy ‘Nouvelle Confiance’:

  • ‘4Ds’ plan to Drive trading, Digitalise Darty, Develop the brand and Deliver cost efficiency
    • Further outperformance in our core markets in what is traditionally a seasonally quiet quarter. Continued growth of web-generated sales in our core businesses confirming customer demand for our multi-channel offer
    • Overall total revenue and like-for-like sales in France were broadly flat. Overall group gross margin was flat; gross margin in France was down 40 basis points
  • Steps taken to capture future growth opportunities and further strengthen Darty’s leadership position in France through the:
    • opening of our first four franchise stores as we expand into smaller catchment areas
    • completed acquisition of Mistergooddeal.com to extend the ‘low price/pay-as-you-go services’ offer
  • Further elimination of losses in our non-core markets with the completion of the disposal of Darty Turkey

Download pdf to learn more.

The Defense Commissary Agency: Scholarships for Military Children program awards $1.2 million to six hundred children from the military community

FORT LEE, Va., 2014-5-22 — /EPR Retail News/ — Six hundred children from the military community are receiving about $1.2 million in financial assistance thanks to this year’s Scholarships for Military Children program.

Since its start in 2001, the Scholarships for Military Children program has awarded about $14.5 million in scholarships to more than 8,000 children of active duty, Guard and Reserve, and retired service members worldwide. This year, the scholarship amount per recipient increased from $1,500 to $2,000.

The Defense Commissary Agency participates in the program by accepting applications from eligible children and submitting their packages to Scholarship Managers, a national, nonprofit, scholarship management services organization.

DeCA Director and CEO Joseph H. Jeu thanked the agency’s industry partners, who help bolster the scholarship program with their corporate donations, at the 2014 Commissary Roundtable event on May 1 in Richmond, Va.

“You’ve always put your best foot forward when taking care of military families,” Jeu said to an audience of commissary employees and industry members. “Scholarships [for Military Children] are one of those examples of supporting military families.”

Commissary vendors, manufacturers, brokers, suppliers and the general public fund the program through donations. All donations are applied solely to funding the scholarships, said Jim Weiskopf, vice president of Fisher House Foundation, a nonprofit organization that assists family members with temporary lodging when they visit hospitalized service members. The Fisher House Foundation sponsors the administration of the scholarships program.

Two of this year’s 600 scholarship recipients, Caitlin Truong and Luis Beltran, spoke during the luncheon.

Truong, the daughter of an Army reservist, is a senior at Clover Hill High School in Midlothian, Va. During her high school years, she has been the captain of the dance team and president of the French Club. She is a member of the National Honor Society, French Honor Society, Tri-M music honor society and Clover Hill’s nationally ranked mixed show choir. She has also volunteered more than 400 hours at her local YMCA. Truong will attend Virginia Tech University in the fall, majoring in business.

“I’m truly honored to be one of this year’s recipients for the military children program scholarships,” Truong said. “This is a way to help fund my education for the future and a path toward a good job – I’m so excited!”

Truong, the daughter of an Army reservist, is a senior at Clover Hill High School in Midlothian, Va. During her high school years, she has been the captain of the dance team and president of the French Club. She is a member of the National Honor Society, French Honor Society, Tri-M music honor society and Clover Hill’s nationally ranked mixed show choir. She has also volunteered more than 400 hours at her local YMCA. Truong will attend Virginia Tech University in the Fall, majoring in business.

Beltran, the son of an Army master sergeant, is a senior at Colonial Heights High School in Colonial Heights, Va. He is a member of the National Honor Society and National Science Honor Society, volunteers through the Youth Advisory Council and plays on the varsity tennis team. Beltran is also secretary of the Beta Club and Junior Optimist Octagon International Club. He will attend Virginia Commonwealth University in the Fall, where he plans to major in biomedical engineering.

“This [scholarship] means I can help my parents pay for college; they’ve done so much for me that I’d like to do anything I can to help them,” Beltran said. “I am deeply honored.”

This year’s essay topic asked applicants to write about the hardships of military service aside from deploying to a war zone. Truong wrote her essay on the financial issues facing military families that result in them qualifying for assistance programs; Beltran addressed the impact of congressional budget cuts in his essay.

In making selections, Scholarship Managers reviews applicants’ grade-point averages, extracurricular and volunteer activities, and their essays.

To see winners of the 2014 Scholarships for Military Children program, go to http://www.militaryscholar.org/sfmc/winners14.html.

NOTE: You can view photos of the Scholarships for Military Children luncheon held May 1 on Flickr at http://www.militaryscholar.org/sfmc/winners14.html.

About DeCA: The Defense Commissary Agency operates a worldwide chain of commissaries providing groceries to military personnel, retirees and their families in a safe and secure shopping environment. Authorized patrons purchase items at cost plus a 5–percent surcharge, which covers the costs of building new commissaries and modernizing existing ones. Shoppers save an average of more than 30 percent on their purchases compared to commercial prices – savings amounting to thousands of dollars annually. A core military family support element, and a valued part of military pay and benefits, commissaries contribute to family readiness, enhance the quality of life for America’s military and their families, and help recruit and retain the best and brightest men and women to serve their country.

Media Contact:
Kevin L. Robinson
(804) 734-8000, Ext. 4-8773
kevin.robinson@deca.mil

Hy-Vee Homefront to hold next Round Up fundraiser in its stores over Memorial Day weekend, May 23 – 26, 2014

Next ‘Round Up’ fundraiser in Hy-Vee stores Memorial Day weekend from May 23-26

WEST DES MOINES, IA, 2014-5-22 — /EPR Retail News/ — Hy-Vee Homefront, Hy-Vee’s veteran support initiative, will hold its next Round Up event in all of its stores over Memorial Day weekend, May 23 – 26, 2014. Customers will be able to round up their purchases to the nearest dollar amount, or more if they choose, with the additional amount going in full to Hy-Vee Homefront. The Homefront Round Up funds help support three veterans’ organizations: Puppy Jake FoundationHope For The Warriors® and Operation First Response.

“Hy-Vee customers have shown their true colors through their generosity with this campaign, and we are excited to prolong that passionate support through another Round Up campaign,” said Brad Waller, AVP of Community Relations at Hy-Vee. “Helping our veterans has long been a focus for Hy-Vee, and the continued interest from our customers, communities and suppliers affirms what we already knew—this is the right thing to do.”

The first Round Up event was held over the Veterans Day holiday in 2013. Since that time, the initiative has distributed the first round of funds raised, which include customer donations and a company match. The total amount raised and distributed thus far is $279,120.

Funds raised from Homefront events until Veterans Day 2014 will go to support Puppy Jake Foundation, Hope For The Warriors and Operation First Response. The funds have been used to finance important veterans’ initiatives and programming, increase the number of veterans served and extend the reach of veteran services to new individuals and communities.

“Puppy Jake Foundation was honored and thrilled to be selected as a recipient of the Hy-Vee Homefront Round Up initiative,” said Becky Beach, president and founder of the Puppy Jake Foundation. “The Foundation was speechless with the level of contributions received from the effort thus far. It is obvious that Hy-Vee and its customers share a deep sense of community commitment and desire to honor those that have given so freely to our country.”

“Hope For The Warriors is thankful to Hy-Vee for recognizing the needs of military families in the Midwest and throughout the nation,” said Robin Kelleher, Hope For The Warriors president. “The Homefront initiative has provided Hope For The Warriors with the funds needed to support thousands of military families. Through this effort, customers and employees joined us in our mission to restore self, family and hope.”

“The Operation First Response Board of Directors and staff would like to give our heartfelt gratitude to Hy-Vee and their customers,” said Peggy Baker, President of Operation First Response. “Without their generosity we could not serve our mission. We consider Hy-Vee a significant part of our team, enabling us to honor our veterans’ sacrifices.”

For more information about Hy-Vee Homefront, the organizations benefited and how you can get involved, please visit www.hy-vee.com/homefront/default.html.

ABOUT HY-VEE, INC
With 237 retail stores across eight Midwestern states and sales of more than $8 billion, Hy-Vee ranks among the top 25 supermarket chains and the top 50 private companies in the United States. Supermarket News, the authoritative voice of the food industry, has honored the company with a Whole Health Enterprise Award for its leadership in providing services and programs that promote a healthy lifestyle. For more information, visit www.hy-vee.com.

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Tesco becomes the first retailer in the UK to remove sweets and chocolates from checkouts

  • First major retailer in the UK to remove confectionery from checkouts across the full range of store formats, including smaller Metro and Express stores
  • Move follows research that found nearly two-thirds of shoppers said removing confectionery from checkouts would help them make healthier choices
  • News coincides with publication of Tesco’s second ‘Tesco and Society’ report, which details the progress the retailer has made against three big ambitions for society

Cheshunt, England, 2014-5-22 — /EPR Retail News/ — Tesco has today announced, following new customer research, that it will become the first retailer in the UK to remove sweets and chocolates from checkouts across the full range of store formats.

The research found nearly two-thirds (65%) of customers said removing confectionery from checkouts would help them make healthier choices when shopping.

67% of parents told Tesco that having no confectionery near the checkout would help them make healthier choices for their children.

Tesco removed sweets and chocolates from checkouts at larger Tesco stores 20 years ago, but for the first time they will be removed from checkouts at all stores, including Tesco Metro and Express convenience stores.

The retailer has committed to remove all sweets and chocolates by the end of December 2014.

Tesco Chief Executive Philip Clarke said:

“We all know how easy it is to be tempted by sugary snacks at the checkout, and we want to help our customers lead healthier lives.

“We’ve already removed billions of calories from our soft drinks, sandwiches and ready meal ranges by changing the recipes to reduce their sugar, salt and fat content. And we will continue to look for opportunities to take out more.

“We’re doing this now because our customers have told us that removing sweets and chocolates from checkouts will help them make healthier choices.”

Tesco was the first UK supermarket to remove sweets and chocolates from large stores, in 1994. Last year Tesco set out its ambition to use its scale for good, which included a commitment to help customers make healthier choices.

Tesco will be trialling a variety of healthier products at checkouts before implementing the full change across all stores at the end of the year.

Katie O’Donovan from Mumsnet said:

“Popping into a shop with a small child in tow can sometimes feel like navigating an assault course. If you’ve made it to the checkout in one piece it can be really frustrating to then be faced with an unhealthy array of sweets designed to tempt your child. It’s really positive to see a supermarket responding to the views of their customers and trying to make life that little bit easier.”

Ends

Notes to editors

  • Today Tesco is also publishing its second Tesco and Society report, which details progress the retailer is making against its three ‘big ambitions’ – improving health, reducing food waste and creating opportunities. The full Tesco and Society 2 report will be available on Tescoplc.com from 10:00 on Thursday 22nd May.
  • Removing sweets and chocolates from checkouts is part of a much wider ongoing effort from Tesco to help customers live healthier lives. Tesco is:
    • Making food on the shelves healthier. Tesco has removed three billion calories from soft drink ranges, 600 million from sandwiches and 92 million from ready meals. An additional 63 million portions of fruit and veg have been added to Tesco ready meals and soups. In January 2014, Tesco launched a new Healthy Living range. The new range helps customers control the amount of salt, sugar and fats they eat, without compromising on flavour.
    • Improving children’s relationship with food. Tesco is working with farmers and suppliers to help schoolchildren understand where the food they eat comes from and help them make healthier choices. Over 100,000 children have so far been taken to farms, fisheries and factories to show where cows are milked, where lettuce comes from, and how fish are prepared for sale as part of the ‘Eat Happy’ project.
    • Increasing awareness of Diabetes through a partnership with Diabetes UK. Tesco colleagues have raised over £10 million for Diabetes UK through a wide variety of fundraising work. This year Tesco helped run the biggest Type 2 diabetes campaign in history, reaching millions of people with posters and adverts. Thousands of Type 2 diabetes risk assessments have been conducted in Tesco pharmacies and online, and information about diabetes has been distributed to over a million customers.

For more information please contact the Tesco Press Office on
01992 644645

We are a team of over 500,000 people in 12 markets dedicated to providing the most compelling offer to our customers.

Walmart’s Veterans Welcome Home Commitment hired more than 42,000 veterans during its first year

The Walmart Foundation pledges another $20 million to expand veteran employment and transition support programs

BENTONVILLE, Ark.,  2014-5-22 — /EPR Retail News/ — During the first year of Walmart’s Veterans Welcome Home Commitment it hired more than 42,000 veterans.  The commitment, launched last Memorial Day, guarantees a job offer to any honorably discharged veteran within his or her first 12 months off active duty. Walmart projects it will hire more than 100,000 veterans in five years.

The Walmart Foundation also announced it is doubling down on its commitment to veterans by pledging an additional $20 million through 2019 to support veteran employment and transition programs. In 2011, the Walmart Foundation pledged $20 million through 2015 to help veterans and their families get through those challenges with assistance from programs that provide job training, transition support and education. It met that goal one year early.

“We have a generation of veterans who have built a legacy of incredible service and sacrifice to our nation,” said Bill Simon, Walmart U.S. president and CEO and U.S. Navy veteran. “We have hired veterans at every career stage and in every part of our company, from stores and distribution centers to the home office and Walmart.com. Veterans bring invaluable skills including leadership, commitment and hard work, which make our workforce even stronger.”

“In addition to the good jobs we offer, our Foundation’s commitment is helping even more veterans build the skills they need to succeed in their careers,” Simon added.

“Walmart provides a great opportunity for veterans to transition from military to civilian life,” said Casey Mormen, an Army veteran who was hired in January 2014, in the Warren, Michigan store. “People don’t realize how hard it is for veterans to find employment, and I received a call almost immediately after applying. I started as a fitting room associate and have already been promoted to a department manager. I truly believe that you can go as far as your hard work will take you at Walmart, and the leadership team supports you along the way.”

More than one million service members are due to exit the military in the next five years, and many of them will face significant challenges with unemployment and transition back to civilian life. To help address those challenges, the Walmart Foundation is increasing its support for veterans and military families.

Organizations that will benefit from the Foundation include:

  • Swords to Plowshares, is receiving a $1.35 million grant. A San Francisco-based veteran service organization, it helps veterans break through the cultural, psychological and economic barriers they encounter upon their return to civilian life. With its first $750,000 Walmart Foundation grant, Swords expanded its innovative model across California. This additional funding will support capacity building and fund a pilot program to expand its service model to Texas.
  • National Veterans Outreach Program founded by American GI Forum is receiving a $1 million grant this year from the Walmart Foundation. It is a San Antonio-based community services agency that oversees veteran programs including job training, counseling and family services throughout Texas. In 2012, NVOP used a $750,000 Walmart Foundation grant to establish the TX-Vet program, which provides transition assistance, job readiness and placement services to unemployed or underemployed veterans 34 years of age and under in the state of Texas. This year’s grant will allow NVOP to continue the work while expanding the program to a 17-month period.
  • Institute for Veterans and Military Families (IVMF) – Through a $450,000 grant from Sam’s Club, IVMF will expand entrepreneurial training and support for female veterans through Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE). Joining the U.S. Small Business Administration to expand V-WISE’s reach, the grant will support planning and costs for 300 program graduates to attend the inaugural V-WISE Graduate Conference in San Antonio in November 2014.

“We hope to have a multiplying effect on the programs and resources available to veterans and their families,” said Kathleen McLaughlin, President of the Walmart Foundation. “Through continued, collaborative work with our nonprofit partners, we will support innovative public/private community-based initiatives that address the challenges many of our veterans face when returning to the civilian workforce and their communities. There is no better tribute to our men and women who serve than supporting them when they return home.”

For more information about Walmart’s Veterans Welcome Home Commitment please visit:www.walmartcareerswithamission.com and follow on Twitter @WalmartVeterans.

About Walmart
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save money and live better – anytime and anywhere – in retail stores, online and through their mobile devices. Each week, more than 250 million customers and members visit our 10,994 stores under 71 banners in 27 countries and ecommerce websites in 10 countries. With fiscal year 2014 sales of approximately $473 billion, Walmart employs more than 2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com, on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart. Online merchandise sales are available at http://www.walmart.com and http://www.samsclub.com.

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Michael A. Tummillo named Lowe’s SVP/General Merchandising Manager, Building And Maintenance

MOORESVILLE, N.C., 2014-5-22 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) announced today that Michael A. Tummillo has been promoted to senior vice president and general merchandising manager-building and maintenance, replacing Michael P. McDermott, who was recently named chief merchandising officer.  Tummillo is responsible for the Lumber & Building Materials, Millwork, Tools & Hardware and Rough Plumbing & Electrical divisions.  He reports to McDermott.

Tummillo served most recently as merchandising vice president, rough plumbing and electrical, where he also focused on product needs of the professional customer.  He joined Lowe’s in 2004 as vice president of credit services then was promoted to an expanded role that included credit, project and event sales.  Prior to Lowe’s, Tummillo spent a number of years at GE card services and GE financial assurance–at one time supporting the Lowe’s private label credit portfolio.

“Mike has a deep understanding of the business and the challenges our professional and DIY customers face every day,” said McDermott.  “During his time at Lowe’s, Mike has demonstrated the kind of strategic thinking and leadership across functions which will position him for success as he takes on responsibility for the broader building and maintenance merchandising team.  I have great confidence that Mike will deliver our strategic goals in this important segment of the business.”

About Lowe’s
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 100 home improvement company serving approximately 15 million customers a week in the United States, Canada and Mexico. With fiscal year 2013 sales of $53.4 billion, Lowe’s has more than 1,830 home improvement and hardware stores and 250,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit lowes.com.

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