Sir Ian Cheshire to be succeeded by Ms Véronique Laury as Kingfisher Group Chief Executive

LONDON, 2014-9-10 — /EPR Retail News/ — Kingfisher announces Group Chief Executive succession plan. Sir Ian Cheshire to be succeeded by Ms Véronique Laury, Chief Executive of Castorama France, before the end of the current financial year.

Kingfisher plc, Europe’s largest home improvement retailer, today announces that Sir Ian Cheshire will step down as Group Chief Executive before the end of the current financial year and retire from the Board on 31 January 2015.

This decision, reached during the regular succession discussions between the Board and Sir Ian, recognises that the next phase of Kingfisher’s evolution requires a significant leadership commitment and continuity. The next five years will be particularly busy as we deliver Group-wide best in class IT systems and omnichannel capabilities, expand Screwfix and Brico Dépôt into new markets, complete our common brands programme and, subject to completion, integrate Mr Bricolage with Kingfisher’s businesses in France.

With this in mind and with Sir Ian having already served 16 years in the business, 14 years on the Board and nearly seven as Group Chief Executive, all parties believed it was best to clarify succession sooner rather than later. Accordingly, Sir Ian will hand over the role of Group Chief Executive to Ms Véronique Laury following a hand over process in the coming months. Ms Laury has been with Kingfisher for 11 years and is currently Chief Executive of the Castorama business in France. She is a member of the Group Executive Committee and will join the Kingfisher plc Board ahead of taking up her new role.

Daniel Bernard, Kingfisher Chairman said: “It has been a pleasure to work with Sir Ian, and on behalf of the Board and our colleagues I want to thank him for his successful leadership. He has transformed Kingfisher into a stronger business with a bright future during a difficult economic time. During his tenure as Group Chief Executive Kingfisher’s reported sales grew 23%, adjusted profit before tax doubled and Kingfisher’s market capitalisation increased by £3.8 billion (+112%). Furthermore, £1.6 billion of financial net debt was eliminated leaving the business strong enough to commence a capital return programme to our shareholders in 2014, the first in Kingfisher’s history. He also leaves a strong sustainability legacy in Net Positive and an impressive management cadre throughout the business.

“Our strategy of making home improvement easier for our customers whilst creating competitive advantage from our international scale and know-how, known as ‘Creating the Leader’ is the right one and we are more determined than ever to successfully execute this strategy and deliver profitable growth for our shareholders. Following a rigorous review of candidates, internally and externally, the Board believe Ms Laury is uniquely qualified to lead the business on the next leg of its journey. She is an outstanding retailer, with 26 years’ experience of home improvement retailing in France and the UK. She is passionate about helping customers have better homes and we are delighted that she has agreed to provide the leadership, pace and drive to deliver our strategy.”

Sir Ian Cheshire, Group Chief Executive said “It has been a privilege to lead Kingfisher and I am proud of our achievements. My primary aim on becoming Group Chief Executive almost seven years ago was to deliver a step change in the value of the business for our shareholders and I am delighted that this aim has been achieved. Having taken over the leadership role in the depths of the financial crisis I am proud that the Kingfisher of today is a much stronger business, with a more profitable and sustainable model. I owe a huge debt of thanks to all the 79,000 colleagues worldwide who helped make this happen. Looking ahead we have a clear path to follow. Helping our customers to have ‘Better Homes, Better Lives’ whilst driving further international integration and expanding our reach will deliver profitable growth in the future. Now is the right time to hand over to a new leader and I am delighted that Véronique, who I have worked closely with for over 11 years and know is superbly qualified for the job, has agreed to take over from me. I wish her and all our colleagues across the Group continued success.”

Ms Véronique Laury, Group Chief Executive Designate said “Kingfisher is a strong business, well positioned in the home improvement market and I am delighted and honoured to be appointed as Group Chief Executive. Building on Sir Ian’s legacy we will reinforce our purpose to support those who want to improve their homes. In addition we will continue to create value for our shareholders.”

Notes to editors

Sir Ian Cheshire, joined Kingfisher in 1998 and joined the Board in June 2000. He has held several major roles including Director of Strategy & Development, CEO of e-Kingfisher, CEO International & Development and CEO B&Q UK & Ireland. He was made Group Chief Executive in January 2008. During his tenure as Group Chief Executive reported sales grew 23%, adjusted profit before tax increased 108% (from £357 million to £744 million) and Kingfisher’s market capitalisation increased by £3.8 billion (+112%). Over £1.6 billion of financial net debt was eliminated leaving the business financially strong enough to commence a capital return programme in 2014, the first in Kingfisher’s history. (Note: financial results cover the period 3 February 2008 to 1 February 2014. Market capitalisation figures reflect the period 3 February 2008 to 9 September 2014)

Ms Véronique Laury has worked in home improvement retailing for 26 years. She joined Kingfisher 11 years ago and has held several key roles including Commercial Director for Castorama France, where she was a key architect of the new ranges, new merchandising approach and modern store format that have made Castorama such a success. She has also been Kingfisher’s Group Commercial Director, where she developed and launched our Group-wide common own brands such as Blooma and MacAllister. And before returning to France as CEO of Castorama she was Commercial Director of B&Q UK & Ireland. Prior to joining Kingfisher she spent 15 years with other leading French DIY retailers.

Kingfisher plc is Europe’s leading home improvement retail group and the third largest in the world, with 1,157 stores in ten countries in Europe and Asia. Its main retail brands are B&Q, Castorama, Brico Dépôt and Screwfix. Kingfisher also operates the Koçtaş brand, a 50% joint venture in Turkey with the Koç Group.

Our unique contribution as a business to our customers is that we can harness our home improvement experience, our heritage as a leader in sustainability and our international scale to bring new, more sustainable and more affordable products to market. By also providing our customers with project advice and new shopping channels to complement our stores we will make it easier for them to adapt their homes to their evolving lifestyles. Our shorthand for describing this purpose is “Better Homes, Better Lives” and the programme of self-help initiatives to achieve this purpose is called‘Creating the Leader’.

Net Positive is our approach to business. We aim to have a positive impact on people and communities, be restorative to the environment, become carbon positive, waste nothing and create wealth.

The Group Executive Committee is responsible for the overall strategic decision-making of the Group. It currently consists of seven senior managers, including the Group Chief Executive who chairs the meetings.

ENQUIRIES

Ian Harding, Group Communications Director
+44 (0)20 7644 1029

Sarah Levy, Director of Investor Relations
+44 (0)20 7644 1032

Nigel Cope, Head of Media Relations
+44 (0)20 7644 1030

Matt Duffy, Investor Relations Manager
+44 (0)20 7644 1082

Brunswick
+44 (0)20 7404 5959

VIA initiative to support the development of methodology for assessing the impacts of FSC forest management certification

The VIA Initiative

LONDON, 2014-9-10 — /EPR Retail News/ — By 2050 we’re likely to need three times more wood than we do today, yet forests are fighting for their lives as the ground they stem from is being sought for alternative uses.

The key to keeping forests standing is to make them viable so they can compete with alternative land uses that require them cleared.  Sustainable wood extraction as a forest conservation strategy has long been recognised as one way to achieve this.

That’s why today, a unique collaboration called VIA (Value and Impact Analysis) is being announced – to promote the benefits of legal, responsibly sourced, sustainable timber and clarify the role of FSC certification in the delivery of these values.  The two-year VIA initiative from three founding business partners Kingfisher, IKEA and Tetra Pak, is supported by IDH, The Sustainable Trade Initiative and coordinated by the ISEAL Alliance.  The collaborators will support the development of a methodology for assessing the impacts of FSC forest management certification and the piloting of this methodology in selected areas.

In the last two decades The FSC has achieved great things but getting this level of certification to scale has proved difficult.  WWF, for example, estimates around two-thirds of the 400 million hectares of production forest in the tropics are operating without a sustainable management plan.  So, as the upward trend for more wood continues and pressures to clear forests for alternative use increase – there’s never been a more pressing time to get sustainable forestry management to scale.

To do it though, we need to demonstrate in which ways certification contributes to better management of the world’s forests, so that businesses and consumers understand the value and then create demand for certified timber.

This collated impact data will enable businesses to see the value they add by specifying FSC certified timber and paper through their procurement policies.  The initiative is independent from the FSC but is designed to be useful to the organisation, by providing a tool that will show the contribution it makes to the social, environmental and economic values of the world’s forests.  The learning from the initiative will also be shared with other sectors beyond forestry that are covered by more than 20 certification schemes who are members of ISEAL.

Richard Gillies, Group Sustainability Director for Kingfisher plc, launching the collaboration at the FSC’s 20th anniversary General Assembly in Seville, Spain, said: 

“Our forests are fighting for their lives.  As a human being I care about the environmental and the social impacts that is having but as a retailer I also understand the devastating impacts of supply insecurity.  The business community can help reverse the deforestation spiral by getting behind sustainable forestry management so that we can get it to scale. That’s why we’ve formed this collaboration. We believe business can be a force for good in keeping forests standing but to do that they need to understand the value of certification and sustainable forestry management.  That’s why there’s a pressing need for this collaboration and the business-ready analysis we’re focused on developing.”

 

For further information please contact Annabel Ward or Suzi Smith on 0207 896 3214 or email netpositive@z-pr.com 

Notes to Editors 

Kingfisher, IKEA, and Tetra Pak are co-building a methodology for collating impact data related to the FSC certification scheme. The two-year initiative, which runs from September 2014 to 2016 will be coordinated by the ISEAL Alliance who will convene and facilitate the group’s activities, provide certification impacts expertise and share the learning across other schemes.

A method for compiling and packaging existing impacts data for one sector into clear messages doesn’t currently exist.  Partners will consult forest experts and communities in this work and the methodology will also be peer-reviewed.  The partners will also work together to firm up the linkages between the collected data and what might be the best ways to communicate the information to consumers, employees and other stakeholders.

The Founding Partners would love to hear from new backers wishing to support the collaboration.  IDH has already signed a Memorandum of Understanding providing 120,000€ towards the initiative.

The announcement of the initiative took place at the 20th anniversary celebrations of the FSC at their General Assembly in Seville in Spain. The FSC was born 20 years ago this week as a market mechanism to promote the benefits of legal, responsibly sourced, sustainable timber through its certification.  The FSC Forest Management certification, is widely recognised as the best way to enable foresters to fell trees in a sustainable way – making their forests commercially viable in the short-term whilst protecting their long-term health.

Well-managed forests make wood a perfect material – it’s renewable, recoverable and bio-degradable.  Wood can be substituted for many less sustainable, non-renewable alternatives and has a very long life. Forests also sequester large amounts of carbon.

WWFs Living Forest Model projects that by 2050 wood removal will be three times the volume that was reported in 2010 – mainly driven by wood as a feedstock for bio-energy.
About FSC
FSC is the world’s strongest certification system, in terms of global reach, robustness of certification criteria and number of businesses involved in the system. FSC has 28,000 certificate holders in 81 countries worldwide, working with 150,000 smallholders around the world and increasingly working with indigenous groups. In 2013, FSC formed the Permanent Indigenous Peoples’ Committee to ensure that indigenous people have a say in the way forests are managed.  For more information please visit www.ic.fsc.org

About IDH
IDH, the Sustainable Trade Initiative aims to up-scale and accelerate sustainable trade by building impact oriented coalitions of front running multinationals, civil society organizations, governments and other stakeholders. IDH receives donor funds from the Dutch (€ 125 million for the period 2011-2015 to match fund private investments in sustainable market transformation in 18 commodity sectors.), Swiss (€ 24.5 million for a strategic four-year partnership) and Danish (€ 1.2 million for cotton and coffee programs) governments.

About IKEA
The IKEA vision is to create a better everyday life for 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 can afford them. There are currently 315 IKEA Group stores in 27 countries. In 2013, the IKEA Group had 135,000 co-workers, 684 million visitors to its stores and 1.3 billion visitors to IKEA.com. For more information, please visit www.IKEA.com

About ISEAL Alliance
ISEAL Alliance is the backbone organisation for the sustainability standards and certification movement, representing the leading and most credible multi-stakeholder standards systems that are operating today at an internal scale.  ISEAL brings together the leading sustainability standards systems in the world, across a diverse range of sectors, with an overall aim to collectively and individually demonstrate and increase the positive sustainability impacts of these organisations and their standards.

About Kingfisher plc
Kingfisher plc is Europe’s largest home improvement retail group and the third largest in the world, with over 1,130 stores in nine countries in Europe and Asia.  Employing more than 70,000 staff its main retail brands are B&Q, Castorama, Brico Depot and Screwfix.  Kingfisher also has a 50% joint venture business in Turkey with Koç Group. B&Q was a founding member of the FSC more than two decades ago.  Kingfisher’s restorative approach to business, called Net Positive, sees it redesigning itself to have a positive impact on the world and it is already included in two of the main socially responsible investment indexes – the FTSE4Good and Dow Jones Sustainability indexes. www.kingfisher.com/netpositive

About Tetra Pak
Tetra Pak is the world’s leading food processing and packaging solutions company. Working closely with our customers and suppliers, we provide safe, innovative and environmentally sound products that each day meet the needs of hundreds of millions of people in more than 170 countries around the world. With more than 23,000 employees based in over 80 countries, we believe in responsible industry leadership and a sustainable approach to business.  Our motto, “PROTECTS WHAT’S GOOD™,” reflects our vision to make food safe and available, everywhere. The FSC licence code for Tetra Pak is FSC™ C014047. More information about Tetra Pak is available at www.tetrapak.com.

Kingfisher reports half year total sales up 0.9% and flat adjusted pre-tax profits of £364 million

LONDON, 2014-9-10 — /EPR Retail News/ — Kingfisher reports half year total sales up 0.9% (+1.8% LFL) and flat adjusted pre-tax profits of £364 million after the negative impact of foreign exchange translation. Kingfisher also announces Group Chief Executive succession plan. Sir Ian Cheshire to be succeeded by Ms Véronique Laury, Chief Executive of Castorama France, before the end of the current financial year. See separate RNS.

Group Financial Summary

26 weeks ended 2 August 2014

% Total Change % Total Change % LFL* Change
2014/15 2013/14 Reported Constant currency Constant currency
Sales* £5,768m £5,716m +0.9% +4.6% +1.8%
Retail profit* (1) £390m £390m Flat +3.3%
Adjusted* pre-tax profit (1) £364m £364m Flat
Adjusted basic EPS (1) 11.3p 11.3p Flat
Statutory pre-tax profit £375m £401m (6.5)%
Statutory post-tax profit £277m £440m (37.0)%
Basic EPS 11.8p 18.7p (36.9)%
Interim dividend 3.15p 3.12p +1.0%
Net cash* £496m £259m n/a

*Throughout this release ‘*’ indicates the first instance of terms defined in Section 5 ‘Glossary’ of this announcement.
(1) 2013/14 comparatives restated to reflect disposal of Hornbach (see note 2 in part 2 to this announcement)

First half highlights in constant currencies:

  • Reported Group retail profit of £390m impacted by £12m adverse foreign exchange movements when translating overseas profits into sterling
  • Group retail profit ahead 3.3% in constant currencies, after development costs of £11m in our new markets – Portugal, Germany & Romania. Underlying retail profit, excluding these development costs, was up 6.0%
  • Total sales in France grew 0.4% and profit was flat. The ongoing slow economy and declining housing market impacted our performance, particularly for our more construction orientated Brico Dépôt business
  • UK & Ireland sales were up 6.6% (+4.4% LFL) and retail profit was up 17.7%, benefiting from initiatives to re-energise B&Q and better demand for trade products as housing construction and activity improved. The B&Q strategy update is on pages 8-9
  • In Other International markets sales grew 8.8% but profit growth in Poland, Turkey and Spain was offset by new country development costs and higher losses in China
  • Progress continued with our ‘Creating the Leader’ programme including entering a binding agreement to acquire the shares of the principal shareholders of Mr Bricolage, the French home improvement retailer, and opening today our first 4 Screwfix outlets in Germany with next day national delivery
  • The previously announced multi-year capital returns programme to shareholders, starting with £200m in FY 2014/15 commenced in H1. £100m was returned as a special dividend and £35m via a share buyback (8.5m shares)

Subsequent highlights:

  • Remainder of the capital returns programme will resume as a share buyback
  • At Q2 we indicated that we experienced a sharp market downturn in June and July in France and Poland (Castorama France -3.3% LFL; Brico Dépôt -7.2% LFL; Castorama Poland -4.7% LFL). Since then in August, one of our largest months, sales were better across both markets (Castorama France -0.6% LFL; Brico Dépôt France -4.3% LFL; Castorama Poland +3.3% LFL) and overall Group LFL was +0.3%

Kingfisher’s Group Chief Executive, Sir Ian Cheshire, said:

“This was a difficult first half with demand in our largest and most significant market, France, remaining particularly weak with a sharp market downturn experienced in our second quarter. We did though deliver flat profits in France, a resilient performance despite the difficult backdrop. However, conditions in the UK were more favourable with better weather and encouraging signs in the smaller tradesman market. We were able to capitalise on the better conditions with Screwfix performing particularly well growing sales by 23%. B&Q UK & Ireland also delivered their best H1 sales growth in over a decade as the new team start to gain traction with its re-energising initiatives and started to make progress with its plan to better position the business for the future.

“Looking to the longer term, we continue to work on our ‘Creating the Leader’ programme including opening Screwfix and Brico Dépôt stores in two new countries and accelerating the rebranding of the recently acquired Romanian business into the Brico Dépôt format. We remain convinced that investment today to develop the highly profitable Screwfix and Brico Dépôt formats into new markets creates a huge growth opportunity for Kingfisher.

“Whilst our French business saw an improvement in August we remain cautious about the economic backdrop and focused on trading effectively with continued self-help initiatives whilst continuing with our initiatives to build a long term, sustainable future for the business. We have a strong balance sheet and cashflow to enable the necessary investment in the future as well as paying a healthy dividend to our shareholders. I am pleased that we are also recommencing our share buyback.”

 

ENQUIRIES

Ian Harding, Group Communications Director
+44 (0)20 7644 1029

Sarah Levy, Director of Investor Relations
+44 (0)20 7644 1032

Nigel Cope, Head of Media Relations
+44 (0)20 7644 1030

Matt Duffy, Investor Relations Manager
+44 (0)20 7644 1082

Brunswick
+44 (0)20 7404 5959

Further copies of this announcement can be downloaded from www.kingfisher.com or viewed on the Kingfisher IR iPad App available for free at the Apple App store. Video interviews with Sir Ian Cheshire (Group Chief Executive) and Karen Witts (Group Finance Director) are also available on the website and we can be followed on Twitter@kingfisherplc with the interim results tag #KGFHY.

Kingfisher American Depository Receipts are traded in the US on the OTCQX platform:
(OTCQX: KGFHY)
http://www.otcmarkets.com/stock/KGFHY/quote

COMPANY PROFILE
Kingfisher plc is Europe’s leading home improvement retail group and the third largest in the world, with 1,157 stores in ten countries in Europe and Asia. Its main retail brands are B&Q, Castorama, Brico Dépôt and Screwfix. Kingfisher also operates the Koçtaş brand, a 50% joint venture in Turkey with the Koç Group.

Harris Teeter to welcome shoppers to its Sawmill Village store on September 24 2014

Matthews, N.C., 2014-9-10 — /EPR Retail News/ — Harris Teeter is proud to welcome shoppers to its Sawmill Village store on Wednesday, Sept. 24 2014 and is celebrating the grand opening with a ribbon cutting ceremony at 8 a.m. on that day.

In each of its stores, including its newest store at Sawmill Village, Harris Teeter strives to offer customers an excellent shopping experience on every visit.  An excellent shopping experience starts in the store with customer service, high-quality perishables along with great variety and selection.

The Sawmill Village Harris Teeter will be open 24 hours and will feature a Starbucks.

Fast Facts:

 Store Address  Sawmill Village
680 Bacons Bridge Rd.
Summerville, S.C.  29485
Grand Opening Date  Wednesday, Sept. 24, 2014
Grand Opening Time  8 a.m., ribbon cutting
Store Hours  24 hours
Square Footage  53,000
Check-Out Lanes  Nine checkouts and four USCAN checkouts

 

Features and Departments:
Full-service Butchers Market with Rancher Beef, HT Reserve Angus Beef and HT Naturals Natural Beef • Full-service Fishermans Market • Shrimp Party Trays • Farmers Market Produce • Full-Service Floral and Custom Floral Arrangements • Fresh Fruit Bar • Produce Party Trays • Gift Basket Program • Full-service Fresh Foods Market Deli/Bakery • Sushi • Self-Serve Olives • Salad Bar • International Cheeses • Chef Prepared Foods to Go • Ice Cream Cakes • Hot Asian Bar • Sub Shop • Artisan Breads • Italian Meat Selection • Caesar Salads • Fresh Made Pizza • Party Trays • Made to Order Sandwich Program • Fresh Made Salads • Boar’s Head Meats & Cheeses • Slicing Meats & Cheeses • Custom Cakes • Wedding Cakes • Rotisserie Items • Starbucks • Sit down eating area • Organic, Natural and Specialty Foods • Wine and Beer • Bulk Candy • Western Union • Coinstar • Express Lane Online Ordering • Double Coupons • Club 60 Senior Discount  • Carryout Service • USCAN

Defense Commissary Agency: Director of strategic planning Kristen D. Ogden retires after 36 years of federal service

FORT LEE, Va., 2014-9-10 — /EPR Retail News/ — Kristen D. Ogden, director of strategic planning for the Defense Commissary Agency, retired after nearly 36 years of federal service effective Sept. 3.

“Ms. Ogden has dedicated nearly 36 years of her life to federal service – the vast majority of those years to shaping the workforce, enabling DeCA to put in place employees who are the backbone of the commissary business,” said DeCA Deputy Director Michael J. Dowling during Ogden’s Aug. 26 retirement ceremony, where she received the DeCA Civilian Career Service Award. “You are sure to be proud of all that you have done – proud in knowing that you made a difference for so many.

“I cannot begin to imagine everything that you have touched and been involved with since your time here at DeCA, dating back to the transition team [in 1991] and even before,” Dowling added. “Your fingerprints rest on documents that were crafted before some of you present here today were even born. I think you get the picture – Kris has done it all, and well.”

In her role as director of DeCA’s strategic planning, Ogden was responsible for anticipating and planning for the challenges DeCA faces in operating its commissaries worldwide. In this position, she ensured that DeCA’s strategic vision, concepts and plans are linked to its operational reality and aligned with resource allocations. Ogden also led the agency’s governance process, providing data-driven performance reviews to enable transparency and accountability.

With Ogden’s retirement, strategic planning will restructure from a directorate to a division and realign under Chris Burns, chief performance officer, joining the corporate communications and executive services divisions.

Ogden’s government career began in 1976, on July 4 to be exact, as a personnel staffing specialist with the U.S. Civil Service Commission in Norfolk, Va. By 1983, she had become a personnel management specialist with the U.S. Army Troop Support Agency at Fort Lee, Va., where within six years she advanced to supervisor.

In 1991, Ogden was a member of the DeCA Transition Team that helped engineer the consolidation of the four military services’ commissary systems into DeCA. During her initial years with DeCA, she served as division chief in DeCA’s human resources directorate where she supervised staffing, career management, position classification, employee development and training functions.

In 2007, she became a member of DeCA’s planning staff, where she led the strategic planning team and managed the agency’s Balanced Scorecard and Quarterly Performance Reviews. From May 2008 through August 2011, Ogden also led the DeCA Working Group as it completed the DeCA Headquarters Addition and Rehabilitation Project.

Ogden is a self-proclaimed “military brat,” having been born on Maxwell Air Force Base, Ala., and raised in a military family that lived in England, Georgia, Virginia, France and New Mexico. She graduated with a bachelor of arts degree in psychology (1975) from the College of William and Mary, Williamsburg, Va. Ogden is also a certified change management professional and a Lean Six Sigma green belt.

“After working a while in the commissary system, I came to notice that there was something different about people who worked around me,” Ogden said during her ceremony. “… I came to realize, to a much greater extent, that we were working to provide a benefit that makes a real and meaningful contribution to military families each and every day. The commissaries truly make a difference in the lives of military families, and I salute all of you who work every day to make it happen.”

As she moves into retirement, Ogden said she and her husband of nearly 42 years, Louis, will partner to be a voice for those who have to endure illnesses with chronic, severe pain. It’s a cause that’s personal for them as Louis himself suffers from a severe, chronic illness that requires medication to avoid constant pain.

“We hope to inform and influence the general public, legislators, policymakers and regulators,” she said, “in order to bring about better understanding and more effective care for people who suffer from constant, severe pain.”

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

The Stop & Shop Supermarket Company LLC celebrated its 100th birthday commemoration at stores throughout Massachusetts, Connecticut and Rhode Island

The store’s centennial weekend celebrated with special in-store activities and events

QUINCY, Mass., 2014-9-10 — /EPR Retail News/ — On Saturday, Sept. 6, The Stop & Shop Supermarket Company LLC celebrated its 100th birthday commemoration at stores throughout Massachusetts, Connecticut and Rhode Island. In honor of the anniversary, all stores welcomed customers, served cake and gave out 100th anniversary balloons.

Many of the stores hosted other activities including food samplings, balloon artists and face painting for kids, and five stores had special appearances by New England Patriots alumni and cheerleaders. In addition, all customers who shopped on September 6th and purchased products with their Stop & Shop card were automatically entered into the Stop & Shop 100th Anniversary Patriots Sweepstakes. More than 80 winners will be chosen for Patriots game tickets, signed merchandise, and more.

Shop & Stop New England president Joe Kelley visited the Somerville store on McGrath Highway to join in the celebration with customers and associates. Founded in Somerville in 1914, Stop & Shop is now one of the most successful grocery retailers today.

“We were thrilled to see our customers turn out for the 100th anniversary celebrations,” said Joe Kelley, president of Stop & Shop New England. “For the past 100 years and today, our company is dedicated to serving the community, and we will continue this commitment for years to come.”

At the Somerville store, the company awarded a surprise $1,000 donation to William Murphy, the Executive Director for the Somerville YMCA. It was part of the company’s 100 Days of Giving program to support the Y’s commitment to strengthening the lives of individuals and families in the community.

“It was a wonderful surprise to hear that the Somerville YMCA was chosen to be a part of Stop & Shop’s 100 Days of Giving program,” said William Murphy, Executive Director, Somerville YMCA. “It’s an inspiration to our staff and board to be chosen by a community business, such as Stop & Shop, for such a generous donation. We will be utilizing this grant to provide scholarships to underprivileged boys and girls from Somerville and Medford, so they will be able to participate in our youth programming.” For more information about Stop & Shop’s 100th Anniversary, visit www.stopandshop.com/celebrate100 and a www.facebook.com/stopandshop. Join the conversation on Twitter using the hashtag #stopshop100 @stopandshop.

About Stop & Shop
The Stop & Shop Supermarket Company LLC employs approximately 59,000 associates and operates 394 stores throughout Massachusetts, Connecticut, Rhode Island, New York and New Jersey. The company helps support local communities fight hunger, combat childhood cancer and promote general health and wellness – with emphasis on children’s educational and support programs. In its commitment to be a sustainable company, Stop & Shop is a member of the U.S. Green Building Council and EPA’s Smart Way program; and has been recognized by the EPA for the superior energy management of its stores. Stop & Shop is an Ahold company. To learn more about Stop & Shop, visit www.stopandshop.com or www.facebook.com/stopandshop.

Contact:
Annemarie Seldon
Stop & Shop New England Division
(617) 276-7756
aseldon@webershandwick.com

 

Giant Food of Landover, Md. introduced electronic cap alternative to the traditional prescription medication caps Rx Timer Cap

Cutting Edge Cap Works with Any Prescription Medication

Landover, Md., 2014-9-10 — /EPR Retail News/ — To encourage appropriate use of prescription medication, Giant Food of Landover, Md. has introduced Rx Timer Cap, an electronic cap that is an alternative to the traditional prescription medication caps. Rx Timer Cap fits standard prescription containers and is available with either child-resistant closures or as an easy twist-off for seniors. For a limited time, all Giant Food locations are offering one free Rx Timer Cap to its grocery and pharmacy customers via an in-store coupon promotion at all pharmacy locations.

Giant Food’s new Rx Timer Cap lets customers know exactly how long it has been since their last dose, as compared to directions on prescription labels alone, which just inform patients how often they should take their medication. Containing a built-in LCD timer, Rx Timer Cap works like a stopwatch, keeping track of the hours and minutes since a patient last opened the container and took his/her medication. Every time the cap is opened, the timer resets to zero. When the cap is closed, the timer automatically begins counting up the hours and minutes since the medication was last consumed. There are no alarms to program or buttons to press, and it works with any prescription medication.

According to the World Health Organization, the number one problem in healthcare today is poor medication adherence, which leads to deteriorating health, further medical treatment, and potentially unnecessary hospitalization.

“The Rx Timer Cap is a fantastic, easy-to-use healthcare tool that is beneficial to all customers who need to take prescription medication, irrespective of age,” said Gayle Shields, director, pharmacy operations, Giant Food. “The chance of missing a dose, or multi-dosing, is significantly reduced using this cap. We are pleased to offer this cutting-edge technology in all Giant pharmacies as part of our commitment to providing high quality, customer-oriented and convenient products and services that promote our customers’ health and wellbeing.”

Customers may purchase additional caps to meet their prescription medication needs, at the cost of $2.99 per cap. Customers may continue to receive traditional cap(s) on their prescriptions at no extra charge. For more information on the Rx Timer Cap or any of Giant Food’s pharmacy offerings, please visit www.giantfood.com.

About Giant Food
Giant Food LLC, headquartered in Landover, Md., operates 169 supermarkets in Virginia, Maryland, Delaware, and the District of Columbia, and employs approximately 20,000 associates. Included within the 169 stores are 158 full-service pharmacies. Giant opened the first supermarket in the nation’s capital on February 6, 1936. Giving back to the community is a cornerstone that was instilled by the founders more than 78 years ago. The company’s core areas of giving include hunger, education, health and wellness, and supporting service members and military families. In 2013, Giant’s monetary and in-kind contributions exceeded $13 million, and the nation’s capital grocer helped partners provide 64.6 million meals. For more information on Giant, visit www.giantfood.com.

MEDIA CONTACT: Jamie Miller
(301) 341-8776
jmiller@giantfood.com

CBRE Group, Inc. named top global real estate advisory firm in the 2014 Euromoney real estate awards

CBRE Also Named Top Global Valuation Firm

​Los Angeles, 2014-9-10 — /EPR Retail News/ — CBRE Group, Inc. (NYSE:CBG) has been named the top global real estate advisory firm in the 2014 Euromoney real estate awards. CBRE is the only firm to achieve top honors in three consecutive years, and has now earned the highest award seven times in the ten years that Euromoney has been running its real estate awards program.

In addition, CBRE was honored as the leading global valuation services provider, also for the third year in a row. This award reflects CBRE’s success at delivering valuations around the world that meet high-quality global standards.

Euromoney, a leading international finance publication, surveys the opinions of real estate advisors, developers, investment managers, corporate end-users and banks worldwide to determine the best providers of real estate services. Real estate professionals from more than 160 countries participated in this year’s survey. In addition to the global awards, CBRE was named the top advisory firm in Western Europe and Africa, as well as the top advisory firm in 20 countries*.

Bob Sulentic, President & Chief Executive Officer, CBRE, commented:

“We are exceptionally proud that our clients and industry peers have again named us as the leading real estate advisor globally. Their recognition is one of the highest compliments we could receive and reflects our success in delivering excellent results for our clients. Winning the top global award for the third consecutive year is a significant achievement and a strong motivation for us to stay focused on continuing to raise the industry standard for excellence.”

For more information on the 2014 Euromoney Real Estate Awards, please go to www.euromoney.com.

* CBRE was named top advisory firm overall in the following countries: Australia, Austria, Bahrain, Belgium, Czech Republic, France, Germany, Greece, Ireland, Japan, Korea, Malaysia, Netherlands, New Zealand, Nigeria, Portugal, Slovakia, South Africa, Switzerland and Vietnam.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue).  The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.

For Further Information:
Steve Iaco
Director, Sr. Managing
T +1 212 9846535
email

Robert Mcgrath
Director, Sr
T +1 212 9848267
email

Target Corporation declares quarterly dividend of 52 cents per common share

MINNEAPOLIS, 2014-9-10 — /EPR Retail News/ — The board of directors of Target Corporation (NYSE:TGT) has declared a quarterly dividend of 52 cents per common share. The dividend is payable December 10, 2014 to shareholders of record at the close of business November 19, 2014. The 4th quarter dividend will be the company’s 189th consecutive dividend paid since October 1967 when the company became publicly held.

About Target 
​Minneapolis-based Target Corporation (NYSE: TGT) serves guests at 1,925 stores – 1,795 in the United States and 130 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, visit Target.com/Pressroom. For a behind-the- scenes look at Target, visit ABullseyeView.com or follow @TargetNews on Twitter.

media contact

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

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

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The National Grocers Association and FMS Solutions released the results of their joint 2014 Independent Grocers Financial Survey covering fiscal year 2013

Arlington, VA, 2014-9-10 — /EPR Retail News/ — The National Grocers Association (NGA) and FMS Solutions today released the results of their joint 2014 Independent Grocers Financial Survey, covering fiscal year 2013. Independents’ financial performance much mirrored the nation’s economy which showed modest growth and both ups and downs in consumer, financial and market performance indicators. Some retailers managed to grow sales, margins and profits whereas others handed back some of the gains accomplished in fiscal year 2012.

Independent grocers indicated 2013 was a challenging year with competitive pressures rising to new heights. “Competition in our industry will always be fierce,” says Peter J. Larkin, President and CEO, National Grocers Association. “In addition to supercenters and conventional supermarkets, we’ve seen a variety of other formats, like dollar stores and price impact stores that are all competing for the food dollar. But, as always, entrepreneurial independent grocers continue to adapt and rebound in what remains to be a tough recovery for our economy.”

In a difficult competitive and economic environment, independent grocers managed to hold the line on same-store sales growth. They duplicated last year’s modest inflation-adjusted increase of 0.2 percent. Multi-store operators improved their sales gains compared with last year, whereas single-store operators lost ground. With rising gas prices, particularly in the second half of 2013, consumers took fewer trips (10,704 transactions per store, per week) but spent a little more on average ($24.38) when in the store.

Reflecting an improvement in inventory management, total store turns increased to 18.6. Single-store operators managed to hold the line on margins, whereas multi-store operators fell back to 2010 levels – taking the average total-store margin down just slightly to 26.12 percent of sales.

Total expenses rose for the third consecutive year – predominantly driven by an increase in labor and benefits, and utilities. Healthcare costs rose by an average of 10.1 percent over 2013 with more than eight in 10 independents reporting expense increases. “The rising costs of providing healthcare is of great concern to independents,” Larkin noted.

Flat sales growth combined with slightly tighter margins and higher expenses resulted in a slight drop in net profits among independents as a group to 1.51 percent overall. Single-store operators fared better with an average net profit of 1.63 percent. The report’s review of the top 25 percentile in terms of net profits revealed a group of independents that managed to outperform the rest by a wide margin. These profit leaders more than doubled the national average at 4.10 percent. “The profit leaders outperformed the rest in nearly every benchmark, including sales, margins, asset performance, and expenses control,” says Robert Graybill, president and CEO of FMS. “By investing back into their companies in good and bad economic times, yet keeping long-term liabilities and expenses in check, they extended their lead compared with prior years and far outperformed the publicly-traded grocers.”

In addition to sales distribution and gross margin data by department, the report also provides detailed financial information by region, store sales volume and profit leaders. The general section of the report includes a thorough review of the nation’s economic and political landscapes and how they impact independent food retailers.

The 2014 Independent Grocers Financial Survey is based on data from 143 independent grocers. To purchase the report click HERE.

If you need additional information, please contact Laura Strange at 703-516-8808.

Toys“R”Us, Inc. appoints number of highly respected executives to key leadership roles to position its business for long-term profitable growth

WAYNE, NJ, 2014-9-10 — /EPR Retail News/ — Toys“R”Us, Inc. today announced it has appointed a number of highly respected executives to key leadership roles, as the company continues to work to position its business for long-term profitable growth.

“One of the key pillars of our “TRU Transformation” strategy is to develop high-performing, highly engaged, diverse teams, and we are assembling talent that can help lead important areas of the business and offer fresh perspectives,” said Antonio Urcelay, Chairman and CEO, Toys“R”Us, Inc. “With these new leaders and our internal team, we are intensely focused on looking at every aspect of the business for process improvement in making the company fit for growth.”

Debbie Lentz has been named Senior Vice President, Chief Supply Chain Officer, with responsibility for U.S. distribution and customs compliance, global importing and exporting, fleet operations and domestic transportation, reporting to Hank Mullany, President, Toys”R”Us, U.S. In this role, she oversees inventory planning and allocation as well as e-commerce fulfillment, while driving efforts to significantly improve in-stock levels in-store and online. In addition, Lentz leads logistics strategy development for the company’s international markets and efforts to improve global supply chain efficiencies, reporting in this capacity to Antonio Urcelay.

Lentz was formerly with Kraft Foods Group and most recently held the position of Senior Vice President, Customer Service and Logistics. In this capacity, she oversaw a team of associates across a network of distribution centers, direct store delivery branches, warehouses and large truck fleet. Before this role, she led logistics, including global exports, fulfillment, product supply and customer service throughout Kraft’s European business. During her career with Kraft, Lentz held positions in global procurement, information systems, manufacturing operations and supply chain across the company’s multiple businesses in North America and Europe. Prior to Kraft, she worked for many years in logistics operations at Nabisco Foods Group.

Lentz serves on the Board of Directors of the International Women’s Forum Leadership Foundation and is a member of the Council of Supply Chain Management Professionals.

Christine Morena has been named Senior Vice President, Human Resources, Toys“R”Us, Inc., reporting to Deb Derby, Vice Chairman, Toys“R”Us, Inc. In this role, Morena provides strategic guidance and operational support to the company’s global Human Resources organization throughout its headquarters and regional offices, as well as stores and distribution centers in the U.S. and internationally. She is also instrumental in leading ongoing efforts to develop strong teams through employee relations and communications, as well as training and talent development. In addition, Morena oversees the company’s employee rewards and benefits programs.

Morena most recently served as principal of her own advisory services business, providing counsel to senior managers and boards on building best-in-class organizational structures and programs. Prior to this, Morena served as Executive Vice President and Chief Human Resources Officer for Saks Incorporated. She previously worked at AT&T for many years where she held positions of increasing responsibility, culminating in Senior Vice President, Human Resources, AT&T Corporation.

Joe Venezia has been named Senior Vice President, Store Operations, Toys“R”Us, U.S. In this capacity, Venezia is responsible for transforming the in-store experience through strong operations disciplines and customer service excellence in the company’s store network across the country. He also provides leadership for ensuring customers have a seamless in-store and online shopping experience through the company’s omnichannel offerings, including Ship from Store and In-Store Pickup. He reports to Hank Mullany.

Venezia was formerly at The Pantry, where he served as Senior Vice President of Store Operations for its convenience stores and quick service restaurants across the Southeastern U.S. Prior to this, Venezia served as Senior Vice President of Walmart U.S. and President for the company’s Northeast division. Before joining Walmart, Venezia was President and General Manager, Wells Fargo Merchant Services and worked at The Procter & Gamble Company in brand management roles of increasing responsibility, including leadership of a number of baby care brands. Venezia also served as an Airborne Ranger Officer in the U.S. Army Infantry for nine years and was deployed abroad three times. His missions included a parachute assault into Panama during Operation Just Cause and combat operations in Iraq during Operation Desert Storm, where he was awarded the Bronze Star Medal for demonstrated bravery.

In addition, the company recently announced the appointments of Michael Short as Executive Vice President, Chief Financial Officer, Toys“R”Us, Inc. and Chetan Bhandari as Senior Vice President, Corporate Finance and Treasurer, Toys“R”Us, Inc.

About Toys“R”Us, Inc.
Toys“R”Us, Inc. is the world’s leading dedicated toy and baby products retailer, offering a differentiated shopping experience through its family of brands. Merchandise is sold in 877 Toys“R”Us and Babies“R”Us stores in the United States and Puerto Rico, and in more than 710 international stores and over 195 licensed stores in 35 countries and jurisdictions. In addition, it exclusively operates the legendary FAO Schwarz brand and sells extraordinary toys in the brand’s flagship store on Fifth Avenue in New York City. With its strong portfolio of e-commerce sites including Toysrus.com, Babiesrus.com, eToys.com and FAO.com, it provides shoppers with a broad online selection of distinctive toy and baby products. Headquartered in Wayne, NJ, Toys“R”Us, Inc. employs approximately 70,000 associates annually worldwide. The company is committed to serving its communities as a caring and reputable neighbor through programs dedicated to keeping kids safe and helping them in times of need. Additional information about Toys“R”Us, Inc. can be found on Toysrusinc.com. Follow Toys“R”Us, Babies“R”Us and FAO Schwarz on Facebook at Facebook.com/Toysrus, Facebook.com/Babiesrus and Facebook.com/FAO and on Twitter at Twitter.com/Toysrus and Twitter.com/Babiesrus.

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Media Contact:
Toys“R”Us, Inc.
Kathleen Waugh
973-617-5888 or 646-366-8823
waughk@toysrus.com

The YMCA of Greater Rochester and Wegmans Pharmacy to provide YMCA members with convenient way to receive flu shot by offering flu clinics at select Y branches

ROCHESTER, NY, 2014-9-10 — /EPR Retail News/ — The YMCA of Greater Rochester has partnered with Wegmans Pharmacy to provide YMCA members with a convenient way for adults (ages 18 and up) to receive flu shots by offering flu clinics at select Y branches throughout the community. Members do not need a prescription or appointment. The cost is covered by most major insurance companies.

The Centers for Disease Control (CDC) and Prevention recommends a yearly flu vaccine as an important step against infection. The CDC believes the flu shot is one of the best ways to protect families throughout the flu season.

Flu Clinics Schedule at the YMCA:

Maplewood YMCA, 25 Driving Park Ave., Rochester, NY 14613

  • Wednesday, Sept. 17: 9 a.m. to 1 p.m.
  • Saturday, Oct. 11: 8 a.m. to noon
  • Monday, Oct. 27: 9 a.m. to 1 p.m.

Northwest Family YMCA, 730 Long Pond Road, Rochester, NY 14612

  • Thursday, Oct. 2: 7:30 to 11:30 a.m.
  • Wednesday, Dec. 3: 4:30 to 7:30 p.m.

Southwest Family YMCA, 597 Thurston Road, Rochester, NY 14619

  • Monday, Nov. 3: 8 a.m. to noon
  • Wednesday, Dec. 10: 8 a.m. to noon

Eastside Family YMCA, 1835 Fairport Nine Mile Point Road, Penfield, NY 14526

  • Monday, Sept. 22: 7 to 11 a.m.
  • Wednesday, Oct. 1: 7 to 11 a.m.

Westside Family YMCA, 920 Elmgrove Road, Rochester, NY 14624

  • Monday, Sept. 15: 8 a.m. to noon
  • Saturday, Oct. 4: 9 a.m. to noon
  • Thursday, Nov. 6: 9 a.m. to 1 p.m.

Carlson MetroCenter YMCA, 444 East Main St., Rochester NY 14604

  • Tuesday, Oct. 7: 9 a.m. to 1 p.m.
  • Monday, Dec. 1: 9 a.m. to 1 p.m.

Monroe Family YMCA: 797 Monroe Ave., Rochester NY 14607

  • Wednesday, Sept. 3: 9 a.m. to noon
  • Wednesday, Nov. 12: 9 a.m. to noon

For more information on the flu clinics at the YMCA of Greater Rochester, visit
rochesterymca.org/flu-clinics.

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About YMCA of Greater Rochester
The YMCA of Greater Rochester is one of the area’s leading nonprofits, committed to strengthening communities through youth development, healthy living, and social responsibility for 160 years. As a dedicated association of staff, volunteers, donors, partners, and allies, the Y is steadfast in its mission to build healthy, confident, connected, and secure children, adults, families, and communities throughout the greater Rochester area. The YMCA of Greater Rochester serves more than 128,000 men, women, and children annually regardless of age, income, or background through health and fitness memberships, wellness programs, child care services, camps, youth sports, and aquatics instruction. To find out more about how to join or support your local Y, visit rochesterymca.org.

About Wegmans
Wegmans Food Markets, Inc. is an 84-store supermarket chain with stores in New York, Pennsylvania, New Jersey, Virginia, Maryland, and Massachusetts. The family-owned company, founded in 1916, is recognized as an industry leader and innovator.  Wegmans has been named one of the ‘100 Best Companies to Work For’ by FORTUNE magazine for 17 consecutive years. In 2014, Wegmans ranked #12 on the list.

Contact Information:  
Ryann Bouchard, Dixon Schwabl on behalf of the YMCA of Greater Rochester, 585-899-3243
Jo Natale, Wegmans’ director of media relations, 585-429-3627