IKEA U.S. launches new kitchen system called SEKTION

CONSHOHOCKEN, PA, 2014-9-19— /EPR Retail News/ — Starting February 2, 2015, IKEA U.S. will begin selling a new kitchen system called SEKTION, which will replace the current AKURUM system. SEKTION is a more modular system and will offer new opportunities for better use of the interior space inside each cabinet plus an option for integrated lighting. The AKURUM and SEKTION systems are not compatible.

Homeowners can continue to plan and purchase the current IKEA kitchen system, AKURUM, until February. Rated by customers as “Highest in Customer Satisfaction” in the J.D. Power 2014 U.S. Kitchen Cabinet Satisfaction Study, IKEA AKURUM kitchen cabinets are a great value. In fact, 7.7 million AKURUM kitchen cabinets have been sold since its introduction in 1995. IKEA will continue to honor the 25-year limited warranty on AKURUM kitchens after it is retired.

SEKTION will be comparable in price to AKURUM. A Q&A is available HERE; more product details and complete pricing for the new SEKTION kitchen system will be available in February.

Renowned French Chef Daniel Boulud launches new line of smoked salmon available exclusively at Whole Foods Market stores

Three flavors of DANIEL BOULUD SMOKED SALMON – responsibly sourced and expertly crafted, hits store shelves throughout New York, New Jersey and Connecticut

New York, NY, 2014-9-19— /EPR Retail News/ — Renowned French Chef Daniel Boulud, in collaboration with Markus Draxler of Solex Fine Foods and Catsmo Artisan Smokehouse, has launched a new line of smoked salmon – available in three original flavors:  Highland, Baja, and Riviera. Under the brand name DANIEL BOULUD SMOKED SALMON, the line is available exclusively at Whole Foods Market stores throughout New York, Northern and Central New Jersey and Southern Connecticut.

The collection’s global flavors are created through a unique pairing of herbs and spirits, inspired by Chef Boulud’s travels. The Highland flavor, featuring subtle flavors of ground cardamom and a hint whisky, was influenced by the British Isles; the Riviera flavor, with fragrances of fennel, basil, pink peppercorn and Ricard, by summers in the south of France; and the Baja flavor, highlighting the aroma of cilantro with tequila, by a recent trip to Mexico where Chef Daniel met with the country’s best chefs and explored the cuisine and local ingredients. Draxler, founder of Solex Fine Foods and formerly Maître d’hôtel at Boulud’s three Michelin star DANIEL, approached Boulud in early January 2014 about developing a line of salmon. Boulud met with his chefs and developed ten recipes with ingredients from the DANIEL kitchen and around the world. Through a series of tastings and testing, they narrowed the selection to three standouts.

“Smoked salmon is a staple for me when entertaining at home – by itself it is delicate and elegant, and adds rich flavor to hors d’oeuvres, salads and sandwiches. My goal was to source and smoke a superb salmon, then layer in interesting flavors to give an added element of depth and versatility to the fish.”

DANIEL BOULUDSMOKED SALMON uses only premium cuts of responsibly sourced, fresh, Atlantic salmon smoked by Catsmo Artisan Smokehouse, a small-batch smokehouse located in Walkill, NY, in the heart of the Catskill Mountains. Catsmo uses the highest quality ingredients, meeting Whole Foods Market’s strict aquaculture and farming standards, and has maintained a tradition of excellence for 19 years, using the most precise methods of selecting and smoking salmon.

“At Whole Foods Market, our goal is to offer our shoppers the widest variety of high-quality products,” says James Slobodzian, Whole Foods Market Northeast Region’s Seafood Coordinator. “We’re thrilled to work with Chef Boulud and Catsmo on these wonderful flavors of smoked salmon that are not only delicious, but also meet our strict standards, meaning that we can trace exactly where the fish is coming from and how they were raised, offering piece of mind for our shoppers as they enjoy this superior product from one of the world’s most recognizable and celebrated chefs.”

###

Retail Industry Leaders Association appointments: Sue Pifer as the Vice President of Compliance and Tiffin Shewmake as the Director of the Center for Retail Compliance

Executives Will Be Tasked With Overseeing Completion Of Comprehensive Retail Industry Compliance Tool

Arlington, VA, 2014-9-19— /EPR Retail News/ — Today the Retail Industry Leaders Association (RILA) announced the addition of two executives.  Sue Pifer will join the association as the Vice President of Compliance and Tiffin Shewmake as the Director of the Center for Retail Compliance (CRC).

“The experience and skills that Sue and Tiffin possess make them uniquely suited for delivering exceptional value to our member companies on a broad range of compliance issues. We are excited to have them join the RILA team,” said RILA President Sandy Kennedy.

Once completed, the CRC will be a comprehensive resource center for retail environmental compliance and sustainability information. The CRC will provide retailers and industry stakeholders with access to retail-specific information, tools and solutions pertaining to state and federal environmental regulations.

Pifer joins the association from Meijer, where she served as the Chief Compliance Officer, Legal & Compliance. In her new role, Pifer will be responsible for providing advice, counsel and leadership to a variety of significant compliance functions, including to the CRC, where she will focus on developing a system for vendor-retailer communication with the goal of enhancing environmental compliance.

In addition to her role with the CRC, Pifer will lead several key committees within the association, including the Internal Audit Committee and the Financial Leaders Council, comprised of senior-level audit and finance executives from America’s largest retailers.

Pifer holds a JD and LLM from the Thomas M. Cooley Law School.

Shewmake comes to RILA from Hitachi Consulting, where she was responsible for managing several government contracts focused on sustainable operations, compliance with environment regulations and the development of training programs.  Shewmake will lead the overall development of the CRC, managing a six million dollar budget with the goal of creating a self-sustaining entity within four years. She will also be responsible for the management of the CRC steering committee, working with retail environmental compliance executives to define the role of the CRC in the retail industry.

Shewmake holds a MS in Information Systems from George Mason University.

Both Pifer and Shewmake will report to RILA’s executive vice president and general counsel, Deborah White.

“Sue’s experience leading the compliance program of a major U.S. retailer will make her an outstanding resource for RILA’s member companies,” said White. “Sue’s experience along with Tiffin’s extensive project management experience and understanding of environmental regulatory structures make the two a remarkable team and a significant asset to RILA, the CRC and our members.”

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

###

Brian Dodge
SVP, Communications & State Affairs
Phone: 703-600-2017
Email: brian.dodge@rila.org

NACS launches Ideas 2 Go website

​ALEXANDRIA, Va., 2014-9-19— /EPR Retail News/ — The convenience and fuel retailing industry’s deepest video archives just became more accessible with the launch of the new NACS Ideas 2 Go website at nacsonline.com/ideas2go.

The site allows retailers to search for best practices by topic from dozens of Ideas 2 Go video segments. It also showcases NACS Magazine Ideas 2 Go articles and allows retailers to submit ideas to NACS for consideration for future Ideas 2 Go segments.

The diversity of the industry is represented in these online video segments, from innovative one-store operators delivering exceptional foodservice (Chef Point Café, The Corner Deli & Grill), community partnerships (Papa’s Healthy Food & Fuel, Johnny Junxions) or an acclaimed growler program (Stop and Go Mini Mart) to some of the more recognized convenience retailers in North America (Maverik, Kwik Trip, Parker’s, Nice N Easy Grocery Shoppes, Alimentation Couche-Tard). Segments also profile unique truck stop operations (Jubitz Travel Center, Russell’s Truck & Travel Center) and even a few retailers often thought of as outside the traditional convenience channel (Stew Leonard’s, Duane Reade).

Since its debut in 1994, Ideas 2 Go has featured hundreds of interviews with retailers from 38 states and six countries, sharing best practices related to their operations, both in store and in their community. The annual Ideas 2 Go general session at the NACS Show brings thousands of attendees together to learn about innovative new ideas and is regularly one of the NACS Show’s highest-rated programs.

“There is nothing like Ideas 2 Go in our industry — or any other industry, for that matter, But that’s to be expected because our industry is unique in its willingness to share ideas, and that sense of collaboration and vision is captured in these segments,” said NACS Vice President of Strategic Industry Initiatives Jeff Lenard.

The Ideas 2 Go website showcases the industry’s best practices not only to retailers but to the community at large. “The online platform also allows us to show — quite literally — community groups and legislators how convenience stores serve and enhance their communities. We feel that the videos and stories allow us to better tell our industry’s story,” added Lenard.

The initial launch of the Ideas 2 Go website features all 43 stores profiled from 2010 to 2013. Additional videos from years prior will be continually be added to the site.

The 2014 Ideas 2 Go program will be shown Oct. 9 at the NACS Show. Click here to see a teaser video. Click here to learn more about the NACS Show.

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

Rite Aid Corporation reports operating results for its fiscal second quarter ended August 30, 2014

  • Second Quarter Net Income of $127.8 Million and Net Income per Diluted Share of $0.13, Compared to Prior Year’s Second Quarter Net Income of $32.8 Million and   Net Income per Diluted Share of $0.03
  • Second Quarter Adjusted EBITDA of $364.2 Million Compared to Adjusted EBITDA of $341.6 Million in Prior Second Quarter
  • Rite Aid Lowers Guidance for Fiscal 2015

CAMP HILL, Pa., 2014-9-19— /EPR Retail News/ — Rite Aid Corporation (NYSE: RAD) today reported operating results for its fiscal second quarter ended August 30, 2014. The company reported revenues of $6.5 billion, net income of $127.8 million or $0.13 per diluted share, and Adjusted EBITDA of $364.2 million, or 5.6 percent of revenues.

“In the second quarter, our team of dedicated Rite Aid associates worked together to execute our strategy and deliver results that reflect growth in net income and Adjusted EBITDA and significant increases in same-store sales and prescription count,” said Rite Aid Chairman and CEO John Standley. “Heading forward, while we believe that our key initiatives will continue to drive top-line growth, we are revising our guidance based on lower than anticipated pharmacy margin in the second half of Fiscal 2015. As we navigate these headwinds, we will remain focused on growing our business, generating continued operational efficiencies and positioning our associates to deliver a consistently outstanding experience for our customers.”

Second Quarter Summary

Revenues for the quarter were $6.5 billion versus revenues of $6.3 billion in the prior year’s second quarter. Revenues increased 3.9 percent primarily as a result of an increase in pharmacy same store sales.

Same store sales for the quarter increased 4.1 percent over the prior year, consisting of a 1.1 percent increase in front-end sales and a 5.6 percent increase in pharmacy sales. Pharmacy sales included an approximate 199 basis point negative impact from new generic introductions. The number of prescriptions filled in same stores increased 3.7 percent over the prior year period. Prescription sales accounted for 68.8 percent of total drugstore sales, and third party prescription revenue was 97.5 percent of pharmacy sales.

Net income was $127.8 million or $0.13 per diluted share compared to last year’s second quarter net income of $32.8 million or $0.03 per diluted share. The improvement in net income resulted primarily from an increase in Adjusted EBITDA, a lower LIFO charge due to pharmacy inventory reductions and a $62.2 million loss on debt retirement in the prior year, partially offset by higher income tax expense.

Adjusted EBITDA (which is reconciled to net income on the attached table) was $364.2 million or 5.6 percent of revenues for the second quarter compared to $341.6 million or 5.4 percent of revenues for the like period last year. Adjusted EBITDA improved due to an increase in front-end and pharmacy gross profit, partially offset by an increase in selling, general and administrative expenses related to our higher level of sales.   The improved pharmacy gross profit was driven by the increase in pharmacy revenues and the impact on inventory valuation related to the company’s transition to its new drug purchasing and delivery arrangement with McKesson, partially offset by lower reimbursement rates. The net effect on inventory valuation resulting from the transition to the outsourced McKesson arrangement is not expected to be material to Fiscal 2015 results, but did increase gross profit, Adjusted EBITDA and pre-tax income by approximately $40 million in the second quarter.

In the second quarter, the company relocated 5 stores, remodeled 117 stores and expanded 1 store, bringing the total number of wellness stores chainwide to 1,433. The company also opened 1 store and closed 10 stores, resulting in a total store count of 4,572 at the end of the second quarter.

Rite Aid Lowers Fiscal 2015 Guidance

Based upon current estimates for reimbursement rates and anticipated lower profitability from new generics and generic drugs that recently lost exclusivity, the company is expecting decreases in pharmacy margin in the second half of Fiscal 2015 as compared to its prior estimates and therefore is lowering its guidance for Adjusted EBITDA, net income and net income per diluted share. Adjusted EBITDA (which is reconciled to net income on the attached table) is expected to be between $1.200 billion and $1.275 billion. Net income is expected to be between $223.0 million and $333.0 million and income per diluted share between $0.22 and $0.33. The company is also narrowing guidance for sales and same store sales. Sales are expected to be between $26.0 billion and $26.3 billion and same store sales to range from an increase of 3.00 percent to an increase of 4.00 percent over Fiscal 2014. Capital expenditures are expected to be approximately $525 million.

Conference Call Broadcast

Rite Aid will hold an analyst call at 8:30 a.m. Eastern Time today with remarks by Rite Aid’s management team. The call will be simulcast via the internet and can be accessed through the websites www.riteaid.com in the conference call section of investor information and www.StreetEvents.com. Slides related to materials discussed on the call will be available on both sites. A playback of the call will be available on both sites starting at 12 p.m. Eastern Time today. A playback of the call will also be available by telephone beginning at 12 p.m. Eastern Time today until 11:59 p.m. Eastern Time on Sept. 20, 2014. The playback number is 1-855-859-2056 from within the U.S. and Canada or 1-404-537-3406 from outside the U.S. and Canada with the eight-digit reservation number 96416227.

Rite Aid is one of the nation’s leading drugstore chains with 4,572 stores in 31 states and the District of Columbia. Information about Rite Aid, including corporate background and press releases, is available through Rite Aid’s website at www.riteaid.com.

Statements, including guidance, in this release that are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and involve risks, assumptions and uncertainties, including, but not limited to, our high level of indebtedness and our ability to make interest and principal payments on our debt and satisfy the other covenants contained in our debt agreements, general economic, market and competitive conditions, our ability to improve the operating performance of our stores in accordance with our long term strategy, the impact of private and public third-party payers continued reduction in prescription drug reimbursements and efforts to encourage mail order, our ability to manage expenses and our investments in working capital, outcomes of legal and regulatory matters and changes in legislation or regulations, including healthcare reform. These and other risks, assumptions and uncertainties are described in Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K and in other documents that we file or furnish with the Securities and Exchange Commission, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Rite Aid expressly disclaims any current intention to update publicly any forward-looking statement after the distribution of this release, whether as a result of new information, future events, changes in assumptions or otherwise.

See the attached table for a reconciliation of a non-GAAP financial measure, Adjusted EBITDA to net income, the most comparable GAAP financial measure. We define Adjusted EBITDA as net income excluding the impact of income taxes (and any corresponding adjustments to tax indemnification asset), interest expense, depreciation and amortization, LIFO adjustments, charges or credits for facility closing and impairment, inventory write-downs related to store closings, debt retirements and other items (including stock-based compensation expense, sale of assets and investments and revenue deferrals related to our customer loyalty program).

###

 Click Here for 2nd Quarter Results Detail

Contact:

Investors: Matt Schroeder 717-214-8867 or investor@riteaid.com

Media: Susan Henderson 717-730-7766

Florida Georgia Line’s exclusive deluxe edition of their second album “Anything Goes” available on Target

MINNEAPOLIS, 2014-9-19— /EPR Retail News/ — Following the success of their first studio album, “Here’s to the Good Times” and most notably the chart-topping single “Cruise” Florida Georgia Line has partnered with Target on the exclusive deluxe edition of their second album, “Anything Goes.” The album’s first single, “Dirt” was released on July 8, and has remained near the top of Billboard’s Hot Country Song chart since debuting.

The Target exclusive deluxe edition is available now for pre-order on Target.com and hits stores on Oct. 14. The Target edition features exclusive cover art and three bonus tracks: “Girl on the Radio,” “Dance for Me,” and “That’s What’s Up.

###

Florida Georgia Line's exclusive deluxe edition of their second album “Anything Goes” available on Target

Florida Georgia Line’s exclusive deluxe edition of their second album “Anything Goes” available on Target

BBVA Compass deploys Wincor Check Cash Consolidation Server to automate cash and check deposit processing through ATMs

Real-Time Services Give Bank Customers Faster Access to ATM Deposits

Paderborn, Germany, 2014-9-19— /EPR Retail News/ — Wincor Nixdorf today announced that BBVA Compass is actively using the Wincor Check Cash Consolidation Server (CCCS), which automates cash and check deposit processing and helps give the bank’s customers faster access to their money through ATMs.

As part of the initial CCCS deployment, Wincor worked with BBVA Compass to replace the bank’s legacy envelope-style batch processing system with a real-time, end-to-end check imaging and automated cash deposit solution. BBVA Compass operates 673 branches domestically and is among the top 25 largest U.S. commercial banks based on deposit market share.

“We created a best-in-class hardware and software solution for BBVA Compass that enhances usability and grants customers earlier availability to their deposits,” said Javier Lopez-Bartolome, president & CEO of Wincor Nixdorf, USA. “This latest initiative expands our technology relationship with BBVA Compass and provides a solution that seamlessly integrates into the bank’s customer-centric infrastructure.”

The new system allows cash and checks to be processed in real-time, giving customers near immediate access to their money. The cost-effective solution also improves efficiency by fully automating the process.

“Our customers expect near immediate access to their money, and Wincor Nixdorf’s solution allows us to provide that across our ATM fleet,” said Franklin Johnson, applications manager for BBVA Compass.

CBRE Group, Inc. receives the U.S. Green Building Council’s Best of Building award as the “Best Real Estate Services Contractor” for 2014

CBRE’s Global Energy & Sustainability LEED Team Chosen as “Best Real Estate Services Contractor”

​Los Angeles, 2014-9-19— /EPR Retail News/ — CBRE Group, Inc. today announced that it received the U.S. Green Building Council’s (USGBC) Best of Building award as the “Best Real Estate Services Contractor” for 2014. The Best of Building Awards celebrate the year’s best products, projects, organizations and individuals making an impact in green building.

CBRE is the commercial real estate services and investment industry leader in USGBC’s LEED® for Existing Buildings certifications.  CBRE’s Global Energy & Sustainability LEED Programs team has now certified 320 buildings totaling more than 102 million square feet in 30 states, accounting for approximately 10% of the 3,100 buildings with the LEED for Existing Buildings certification globally. The team is led by Gary Thomas, Director, CBRE Global Energy & Sustainability.

“This is a great honor and we appreciate the support of the USGBC community in recognizing the work of Gary and his team. They have consistently provided outstanding service to our clients and have been an excellent representative of both CBRE and the USGBC brand,” said Dave Pogue, CBRE’s Global Director of Corporate Responsibility.

“USGBC’s membership represents a diverse community of leaders that have made significant contributions to the advancement of green building,” said Mahesh Ramanujam, chief operating officer, USGBC. “We congratulate CBRE, as these peer-chosen awards reflect new and innovative achievements that are to be commended.”

The Best of Building Awards nominees and winners were selected by the members of USGBC, a community of nearly 13,000 of the world’s leading organizations invested in sustainability. Awardees were selected based on their region, size and area of specialization and are designed to showcase the most progressive, innovative organizations in the fields of green architecture, landscape, engineering, interior design and manufacturing. A full list of winners can be viewed at usgbc.org

The positive environmental impacts of CBRE’s building certifications include annual savings of more than 150 million gallons of water and more than 162 million kWh of electricity. At an average rate of $.10 per kWh, this would result in annual energy cost savings of more than $16 million and eliminate more than 112,000 metric tons of CO2 emissions. This reduction in emissions equates to removing 23,591 passenger vehicles from the road for one year.

CBRE delivers energy and sustainability services around the world, with industry-leading programs and practices in all primary regions that reduce energy costs, improve building performance and drive greater value for clients. For more information, visit www.cbre.com/sustainability.

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.

About the U.S. Green Building Council
The U.S. Green Building Council (USGBC) is a non-profit that is committed to a prosperous and sustainable future through cost-efficient and energy-saving green buildings. USGBC works toward its mission of market transformation through its LEED green building program, robust educational offerings, a nationwide network of chapters and affiliates, the annual Greenbuild International Conference & Expo, the Center for Green Schools, and advocacy in support of public policy that encourages and enables green buildings and communities. For more information, visit usgbc.org, explore the Green Building Information Gateway (GBIG) and connect on Twitter, Facebook and LinkedIn.

For Further Information:

Robert Mcgrath
Director, Sr
T +1 212 9848267
email

REWE Digital acquires leading technology provider of e-commerce solutions commercetools

Intensification of digital activities through advanced web shop technology

Cologne, 2014-9-19— /EPR Retail News/ — REWE Digital, a company of REWE Group, has acquired commercetools, a leading technology provider of e-commerce solutions, which is known for its high-performance cloud software. Commercetools will intensify the combine-wide digital activities of REWE Group with its advanced web shop technologies, while continuing to operate on the market as an independent company. With SPHERE.IO, commercetools offers an attractive platform for all required commercial functions as API (Application Programming Interface) and thus enables multi-channel e-commerce (OmniChannel). Since its foundation in 2006, the Munich-based software provider has succeeded in convincing renowned customers such as Red Bull, Brita or Koffer24 of its online technologies.

“Thanks to its advanced e-commerce applications, commercetools opens up exceptional opportunities for our future online activities,” said Jean-Jacques van Oosten, Chief Digital Officer of REWE Group. “As a strong partner in the background, we will push forward the further development of the growing company and expand third-party business,” emphasised van Oosten.

“REWE Group is a strong partner which gives us a long-term perspective for expanding our successful e-commerce platform SPERE.IO and for strengthening our position as a reliable partner on the market,” said Dirk Hörig, CEO of commercetools. “At the end of the day, it is most of all our customers who will benefit from this transaction. We are dedicated to providing the best technology for trade in all channels – i. e. web, mobile and in-store,” Hörig continued.

The acquisition by REWE Group will be executed by way of purchase of all shares of the former shareholders of commercetools. The team of 40 will remain unchanged and the co-founders of the company, Dirk Hörig and Denis Werner, will continue as CEOs. Both parties agreed to maintain confidentiality on the purchase price.

REWE Digital decided to acquire commercetools because of its unique technologies. The API-interface-based platform enables maximum flexibility in the application and integration combined with high cost-efficiency – irrespective of the sales channel. The high-performance software works with all common programming languages and offers full scalability irrespective of the number of products, customers or orders for all connected partners and front-ends at access times of less than 100 ms per request.

The foundation and development of commercetools was accompanied by an consortium of investors consisting of BayBG Bayerische Beteiligungsgesellschaft, the High-Tech Gründerfonds (High-Tech Start-up Fund), Bayern Kapital, Astutia Ventures, the family offices Wecken & Cie. as well as Motion Capital.

About commercetools GmbH:
commercetools was founded in 2006 by Denis Werner, René Welches and Dirk Hörig. The company with offices in Munich and Berlin specializes in cloud-based e-commerce software. With SPHERE.IO, commercetools offers all essential commercial functions as API (Application Programming Interface) and thus enables multi-channel e-commerce (OmniChannel). The technology is high-performant and available worldwide. Customers of commercetools include BRITA, Red Bull and Koffer24.

About REWE Group:
The cooperatively organised REWE Group is one of the leading trade and tourism groups in Germany and Europe. In 2013, the company generated a total external turnover of around 51 billion euros. Founded in 1927, REWE Group operates 15,000 stores with 330,000 employees in 12 European countries. In 2013, around 226,000 employees generated turnover totalling 36 billion euros in approximately 10,000 stores in Germany.

The sales lines include REWE, REWE CENTER, REWE CITY and BILLA supermarkets and consumer stores, the discounter PENNY as well toom Baumarkt and B1 Discount Baumarkt DIY stores. Travel and tourism under the umbrella of DER Touristik includes the tour operators ITS, Jahn Reisen and Tjaereborg as well as Dertour, Meier’s Weltreisen and ADAC Reisen and the business travel division FCm Travel Solutions and more than 2,100 travel agencies (e.g. DER Reisebüro, DERPART), the hotel chains lti hotels, Club Calimera and PrimaSol Hotels and the direct tour operator clevertours.com.

Contact

REWE GROUP-Corporate Communications
Tel.: 0221 – 149-1050
E-Mail: presse(at)rewe-group.com

Contact

 

The Great Atlantic & Pacific Tea Company, Inc. partnered with Wells Fargo Capital Finance to refinance its existing senior debt

Montvale, N.J., 2014-9-19— /EPR Retail News/ — The Great Atlantic & Pacific Tea Company, Inc. (A&P) today announced that it completed the refinancing of its existing senior debt on terms favorable to the Company. A&P successfully partnered with Wells Fargo Capital Finance to arrange the new $300 million senior secured ABL facility and $270 million senior secured term loan through an amendment and restatement of its existing credit agreements.

A&P’s enhanced capital structure is the latest indication of the Company’s improved business fundamentals, and follows the upgraded ratings outlooks issued by each of Moody’s and Standard & Poor’s earlier this year. The new covenant-free debt arrangement provides for a significant reduction in interest expense and enhanced liquidity, and reflects the debt market’s confidence in A&P’s ongoing progress and prospects for future growth.

Paul Hertz, President and CEO, said, “We are extremely pleased to have completed the refinancing of our credit facilities on attractive terms that reduce our borrowing costs and provide greater operational and financial flexibility. Our new senior debt puts the Company in a much stronger financial position and allows us to focus on investing in our business by supporting and accelerating our growth strategies.”

About A&P
Founded in 1859, A&P is one of the nation’s first supermarket chains. The company operates 300 stores in six states under the following banners: A&P, Best Cellars, Food Basics, The Food Emporium, Pathmark, Superfresh and Waldbaum’s.

Press Contact

Public Relations
(201) 571-4453

Dan Gagnier/Brian Shiver
Sard Verbinnen & Co
(212) 687-8080