ICSC Research: Shopping centers performing well even as they undergo profound evolution

NEW YORK, 2014-10-15— /EPR Retail News/ —  Shopping centers are performing well even as they undergo a profound evolution, according to a report by ICSC Research. “The shopping center industry is currently vibrant and healthy,” writes Michael P. Kercheval, ICSC’s president and CEO, in the introduction to Shopping Centers: America’s First and Foremost Marketplace. “We believe [the industry] is poised for unprecedented success going forward — not in spite of e-commerce, but because of it.”

The 18-page report, available at ICSC.org, blends statistical data with big-picture analysis by a host of observers. And the big picture is quite encouraging, they note. With new supply in America’s developed markets growing at its slowest pace in some 40 years in 2013, the relative lack of shopping center construction is restoring the supply-demand balance and helping to shore up occupancy rates. New tenants are likely to lease even more space in the U.S. over the next two years as retailers open an estimated 77,000 stores — a five-year high. Other positive trends include rising demand driven by population growth; the opportunity to tailor tenant mix to meet the needs of increasingly important demographic groups such as Hispanics and Millennials; growing interest in brick-and-mortar space among formerly online-only retailers such as Athleta, Bonobos, Boston Proper and Warby Parker; and the successful efforts of landlords to broaden the appeal of their shopping centers, in part by means of a creative tenant mix.

Given the ubiquitous story line that e-commerce is killing brick-and-mortar retail, the assertion that online sales could actually help the industry might seem counterintuitive. But precisely because online retail offers such an easy and convenient way to buy commoditized goods, its popularity has forced developers to think harder about how to create high-energy experiences at their properties, according to Mark Toro, a partner at North American Properties who heads the firm’s Atlanta office. The effect of all this is a paradigm shift that will strengthen the industry, Toro says. “Back in the day when shopping centers were being built in every suburb, all you had to do was line up the retailers and provide convenient and easy access, and people would come shop,” Toro said. “We have turned that on its head now: Instead of providing the most convenient, quickest way to shop, we’re providing guests with a place to be, which extends dwell times.”

Owners of the larger regional centers will continue to focus on the experiential dimension by adding restaurants, entertainment features, lively outdoor space and the like, the report says, while neighborhood centers, by contrast, are likely to keep leveraging convenience factors.

In-store conversion rates continue to be four times higher than online-only conversion rates, the report authors point out. “Consumers still prefer in-store shopping. Ninety-four percent of total retail spending happens within the four walls of a physical store,” the report says. (In 2013 online retail sales came to some $263 billion, which accounts for only 6 percent of total retail sales, according to the U.S. Commerce Department. In-store sales, meanwhile, accounted for the rest, totaling some $4.3 trillion.)

Meanwhile, investors show confidence. Retail REITs, in particular, have maintained strong property performance amid the challenges of the Internet age, thanks largely to savvy management, observers say. “The REIT industry as a whole has produced returns averaging nearly 11 percent per year for more than 20 years, and yet retail REITs have produced returns averaging 11.82 percent per year — even better than an industry that has done very well overall,” said Brad Case, senior vice president of research and industry information at NAREIT. Annual returns for institutionally owned (i.e., non-REIT) retail properties on an unlevered basis, he says, have averaged 8.65 percent.

Click here for the whole report.

ICSC forecasts 4.0% increase in sales during the November-December U.S. holiday shopping period

Positive Economic Trends Point Toward Improved Consumer Spending

NEW YORK, 2014-10-15— /EPR Retail News/ — Positive economic signals point to a stronger holiday shopping season as the International Council of Shopping Centers (ICSC) forecasts a 4.0% increase in sales during the November-December holiday shopping period, the strongest gain in three years. Total holiday shopping sales at shopping centers is estimated to be $488.6 billion in the same period.

A significant rebound in the U.S. labor market since last spring, along with decreasing unemployment rates and year-over-year gains in personal income, all bode well for consumers and point to a likely solid increase in holiday spending.  Also, despite a setback in September, consumer confidence in the U.S. remains considerably higher than during the same time last year.

“While consumers are expected to remain focused on price this holiday, the positive momentum of key economic indicators are pointing to consumers who are willing to open their wallets and hit the stores this holiday,” said Jesse Tron, spokesperson for ICSC.

Holiday hiring, another strong indicator of holiday sales, is forecasted to be up with seasonal employment at shopping centers expected to rise by 7.3% to 794,258 jobs.

Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 67,000 members in over 100 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials. For more information, visit www.icsc.org.
###

Produce for Better Health Foundation and NGA announce partnership focused on the continuing education of supermarket dietitians

Arlington, VA, 2014-10-15— /EPR Retail News/ — Today (Oct 13, 2014), Produce for Better Health Foundation (PBH) and the National Grocers Association (NGA) are announcing a newly formed partnership between the two organizations focused on the continuing education of supermarket dietitians within the independent and small retail chains and wholesale grocers. Supermarket dietitians are a key resource for shoppers looking to learn more about fruit and vegetables and the role they play in daily meals and snacks, disease prevention, and overall health and wellness.

The partnership includes cross-sharing relevant resources and information from each organization with our respective members and supporters through webinars, and print and electronic communications and a sponsored event that will bring supermarket dietitians from small retail chains and independent stores to The NGA Show, held February 8-11, 2015 at the Mirage Hotel and Casino in Las Vegas, Nevada. The dietitians will participate in relevant educational sessions, engage with sponsors and other organizations while on the expo floor, and have the opportunity to meet fellow dietitians and members of the fruit and vegetable industry during several networking occasions.

“Given our history of working with and supplying information, toolkits, and resources to supermarkets, and our more recent work with supermarket dietitians, the partnership with NGA is both exciting and timely,” said Elizabeth Pivonka, Ph.D., R.D., president and CEO of PBH. “PBH will be able to share our vast resources with members of NGA, while continuing to strengthen our knowledge of the goals and needs of independents and small retail chains.”

“Health and wellness products and services are increasingly becoming a priority for consumers. Given this growing trend, NGA is excited about the opportunity to partner with PBH to equip our members with the tools and resources needed to better educate and provide products and services to meet their customers’ needs and expectations,” said Peter J. Larkin, president and CEO of NGA.

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

###

Toys“R”Us, Inc. announces the appointment of Dianne Guerreiro as Toys“R”Us Australia’s Managing Director

Ms. Guerreiro Will Oversee the Company’s 35 Stores, e-Commerce Operations and More Than 1,700 Employees in Australia

WAYNE, NJ, 2014-10-15— /EPR Retail News/ — Toys“R”Us, Inc. today announced the appointment of Dianne Guerreiro as Managing Director, Toys“R”Us, Australia, effective October 1. She will oversee all operations and business activities for the company’s 35 store locations and e-commerce site, as well as provide leadership for the more than 1,700 employees throughout the country. Her responsibilities will include marketing, merchandising, store operations, human resources and customer service excellence. Ms. Guerreiro will report to Monika Merz, President, Toys“R”Us, Asia Pacific.

Ms. Guerreiro has broad experience in the Australian retail industry and most recently served as General Manager, Finance for Toys“R”Us, Australia.

Ms. Merz said, “Since joining Toys“R”Us five years ago, Dianne has made many significant contributions in supporting the strategic priorities of our business in Australia. She is a strong leader who is committed to developing high-performing teams who work collaboratively to achieve results.”

Ms. Guerreiro stated, “I am excited to take on this new role and work with the team in Australia to position the business for future growth, while creating a truly differentiated shopping experience for our customers.”

Ms. Guerreiro joined Toys“R”Us, Australia in 2009 as the Financial Controller for the company, and was promoted to the role of General Manager, Finance in 2011. Prior to her tenure with Toys“R”Us, Ms. Guerreiro spent seven years at Specialty Fashion Group, the largest specialty retailer of women’s fashion throughout Australia and New Zealand. Earlier in her career, she held several Business Assurance positions within PricewaterhouseCoopers. She received a Bachelor of Commerce from the University of Sydney and is a member of the Institute of Chartered Accountants Australia.

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 includingToysrus.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/Toysrusand Twitter.com/Babiesrus.

# # #


Media Contacts:
Toys“R”Us, Inc.
Alyssa Peera
973-617-5634
alyssa.peera@toysrus.com

Linda Connors
973-617-4398
linda.connors@toysrus.com

Gap Inc. to hire more than 63,000 seasonal associates nationwide for the 2014 holiday season

Gap, Banana Republic, Old Navy and Athleta to hold holiday hiring events October 13–18

SAN FRANCISCO, 2014-10-15— /EPR Retail News/ — Gap Inc. (NYSE: GPS) today announced plans to hire more than 63,000 seasonal associates nationwide at its Gap, Banana Republic, Old Navy and Athleta stores, call centers and distribution centers for the 2014 holiday season.

Gap, Banana Republic, Old Navy and Athleta are also coming together to hold a series of in-store hiring events in the company’s first-ever Holiday Hiring Blitz, taking place October 13 – 18.

“To deliver the highest level of customer service at Gap Inc. brands during the busiest time of the year, we’re holding holiday hiring events across the country to attract and secure the best talent possible this holiday season,” said Dan Henkle, SVP Gap Inc. Human Resources. “Whether our customers are shopping in our stores, online or on mobile devices, our top priority is providing a seamless experience during the craze of holiday shopping.”

Old Navy and Athleta stores will be holding hiring events on Saturday, October 18 from 11 a.m. – 7 p.m. at stores nationwide. Gap and Banana Republic stores will be holding holiday hiring events at different times throughout the week (October 13-18), all times will be determined by the local store. See the Gap Inc. seasonal hiring career page (www.gapinc.com/holidayhiring) for details.

“At Gap Inc., we believe in investing in our front line talent who interact with our customers daily. Through our seasonal retail jobs we provide employees the opportunity to gain career experience, develop transferable personal and professional skills and learn about retail careers with our brands,” said Dan Henkle. “We’re excited to welcome back and have new holiday workers join our brands during the 2014 holiday shopping season.”

Seasonal positions will vary from serving the many customers on the selling floor at Gap, Banana Republic, Old Navy and Athleta stores – to handling the high volume of calls at the call centers and coordinating shipments from the distribution centers to stores and directly to customers who’ve purchased via mobile devices, online or in store.

Candidates are encouraged to sign up for an interview time prior to the Holiday Hiring events through Gap Inc.’s online seasonal hiring career page. Walk-in interviews will also be accepted.

About Gap Inc.
Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix brands. Fiscal year 2013 net sales were $16.1 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,200 company-operated stores, almost 400 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.

British Retail Consortium: September’s Retail Price Index increase reminds of the ever-increasing burden of business rates

LONDON, 2014-10-15— /EPR Retail News/ — The ONS has today announced that the Retail Price Index for September rose 2.3 per cent. This figure is normally used as the basis for calculating the next year’s increase in business rates.

There is a clear consensus across British industry that more needs to be done to address the negative impact that the rates system is having on investment and employment opportunities.

Helen Dickinson, British Retail Consortium Director General, said: “This is a painful time in a retailer’s annual calendar as they are reminded of the ever-increasing burden of business rates. This rate only ever goes up. Retailers welcomed the steps taken by the Chancellor in last year’s Autumn Statement to mitigate these increases.

“It is essential that business rate increases are capped again to ensure the survival of our town centres and high streets until fundamental reform has been considered and implemented. We welcome the ongoing public discussion on this issue and we note that it has been recommended that the increase for 2015 should be confined to being one per cent below RPI and frozen in the following year. We would be supportive of such measures providing a degree of affordability for businesses.

“It is worth noting that reform will take time, and business needs clarity and certainty beyond one year time horizons to have confidence to invest in the meantime. That is why we are asking politicians to commit to including a more fundamental review of rates in their proposed programme for the next government”.

Media Enquiries: Bryan Johnston 020 7854 8936 bryan.johnston@brc.org.uk

###

Rite Aid to help senior customers choose the best prescription drug plan during the annual Medicare Part D enrollment period

Rite Aid Offering Resources In-Store and Online to Help Customers Choose the Best Prescription Drug Plan for 2015

Camp Hill, Pa., 2014-10-15— /EPR Retail News/ — To help senior customers as they get ready to select a prescription drug plan (PDP) or update their existing coverage during the upcoming annual Medicare Part D enrollment period, Rite Aid is once again offering free resources. Beginning Oct. 15, customers can use Rite Aid’s Medicare Advisor, available at any Rite Aid pharmacy, to request the three lowest-cost prescription drug plans based on current prescriptions filled at Rite Aid*. Rite Aid’s Medicare Advisor is also available online at www.riteaid.com/medicareadvisor.

“Rite Aid is committed to offering convenient, informative and easy-to-understand resources to help our customers make the best decisions to achieve their individual health and wellness goals,” said Robert I. Thompson, executive vice president of pharmacy for Rite Aid. “Prescriptions play an important role in maintaining good health and that’s why it’s important to review your prescription drug coverage each year. Accessible in Rite Aid pharmacies nationwide or from home, our Medicare Advisor is a valuable tool for customers evaluating their prescription coverage, helping them to confidently choose the best plan based on their prescription needs.”

With Rite Aid’s Medicare Advisor, customers can compare the estimated annual costs of various plans, including monthly premiums, brand and generic co-pays and drugs covered. Customers can then discuss their Medicare Advisor report with their Rite Aid pharmacists, who are available to answer questions they may have.

Rite Aid will serve as the exclusive co-branded preferred pharmacy provider for the new Symphonix Rite Aid Premier Rx (PDP)**. There is no deductible for those enrolled in the plan, which also offers low copays and covers an expansive list of covered medications. Rite Aid is also the exclusive preferred pharmacy provider for the Symphonix Rite Aid Value Rx (PDP)**. Both plans are available everywhere Rite Aid operates except Connecticut, Massachusetts, New York, Pennsylvania, Rhode Island, Virginia and West Virginia.

Rite Aid is in the networks of hundreds of other Medicare prescription drug plans; seewww.riteaid.com/medicareadvisor for more information.

The Medicare Part D enrollment period runs through December 7, 2014.

Rite Aid Corporation (NYSE: RAD) is one of the nation’s leading drugstore chains with nearly 4,600 stores in 31 states and the District of Columbia and fiscal 2014 annual revenues of $25.5 billion. Information about Rite Aid, including corporate background and press releases, is available through the company’s website at www.riteaid.com.

###

*A complete list of all the Part D plans Rite Aid participates in is also available upon request. **Other pharmacies are available in the network. Rite Aid participates with other Medicare Part D Plans. A full list of all Prescription Drug Plans with which Rite Aid participates is available upon request. Symphonix Rite Aid Premier Rx and Symphonix Rite Aid Value Rx are offered by Symphonix Health Insurance, a Part D Plan with a Medicare Contract.  Enrollment in Symphonix Rite Aid Value Rx and Symphonix Rite Aid Premier Rx depends on contract renewal. The benefit information provided is a summary, not a complete description of benefits. Limitations, copayments and restrictions may apply. Benefits, pharmacy network and/or copayments/co-insurance may change on January 1 of each year. You must continue to pay your Part B premiums.

Contact:

Media: Ashley Flower 717-975-5718

Whole Foods Market launches produce rating system Responsibly Grown

New, exclusive ratings prohibit use of many hazardous neurotoxins on fresh fruit, vegetables and flowers; focus on transparency

AUSTIN, Texas, 2014-10-15— /EPR Retail News/ — Today Whole Foods Market launches Responsibly Grown, an industry leading tiered produce rating system that assesses growing practices that impact human health and the environment. The new rating system labels fresh fruits, vegetables and flowers as “good,” “better” or “best” to help shoppers make more informed choices in the produce and floral departments, and it prohibits some of the most hazardous neurotoxins still allowed in agriculture.

Prohibited pesticides include several organophosphate insecticides, which recent studies indicate can impair neurological development in children born to mothers exposed in diet or by working in agriculture and living in nearby communities.  A full list of prohibited and restricted pesticides may be found on the Responsibly Grown web page.

“After three years of research and planning, Responsibly Grown is the result of our collaboration with suppliers, scientists and issue experts to continue our strong commitment to organic, while embracing additional important topics and growing practices in agriculture today,” said Matt Rogers, global produce coordinator at Whole Foods Market. “We are excited to broaden the conversation to recognize additional growing practices and drive more transparency in the industry.”

To earn a “good” rating, a farm must take 16 major steps to protect air, soil, water, and human health.  Growers must also comply with the Responsibly Grown pesticide policy, which restricts growers to using only U.S. Environmental Protection Agency registered pesticides, regardless of the country of origin.  In other words, farms outside the U.S. cannot supply Whole Foods Market with fresh fruits, vegetables, and flowers grown using pesticides not allowed in the U.S., with very limited exceptions including for crops not grown in the U.S. Growers also cannot use biosolids or irradiation and must commit to GMO transparency.

“I applaud the courage and conviction of Whole Foods Market, and its growers and suppliers, for taking decisive action on more than a dozen high-risk pesticides. The next generation of Americans will be the primary beneficiaries of this bold step,” according to Dr. Charles Benbrook, research professor and program leader for the Center for Sustainable Agriculture at Washington State University.

A “better” rating indicates advanced performance and a “best” rating indicates exceptional, industry-leading performance in a scoring system covering multiple topics in each of these key categories:

  • Pest management (e.g. using beneficial insects to control pests)
  • Farmworker welfare (e.g. providing protective equipment for workers)
  • Water conservation and protection (e.g. using efficient irrigation techniques)
  • Enhancing soil health (e.g. adding compost to soil; planting cover crops)
  • Ecosystems and biodiversity (e.g. planting wildflowers to restore natural bee habitat for pollinator protection)
  • Waste reduction (e.g. recycling plastics used in the field)
  • Air, energy and climate (e.g. solar panels for renewable energy)

The first-of-its-kind program seeks to reward growers for existing accomplishments and raise the bar to encourage continuous improvement while minimizing additional burdens for growers.

“Being truly sustainable means more than just not using harmful chemicals. Energy conservation is a big focus for us so we installed solar panels on the packing house at our Pennsylvania farm which accounts for 20 percent of energy consumption on the farm,” said Tom Beddard, founder and grower at Lady Moon Farms that has a “best” rating for their vegetables.  “We incorporate many different practices with a promise to put more into the soil than we take out, ensuring more fertile farms and making the earth a safer place for all of us. We’re proud to share these practices with Whole Foods Market shoppers through Responsibly Grown.”

Pollinator protection is another major focus of the program that is likely to resonate with Whole Foods Market shoppers.  Responsibly Grown addresses the primary threats facing pollinators including high risk pesticide use, loss of habitat, and disease spread from managed bees to wild pollinators.  Four of the most common neonicotinoids currently allowed in the U.S. will be prohibited for growers to reach the Responsibly Grown “best” level. Many growers, scientists, environmentalists, and beekeepers are concerned about the impact of these pesticides on bees and other pollinators.

“As a result of this program, we are already hearing from fruit and vegetable farmers who are creating wildflower-rich habitat for bees, and working to reduce or eliminate pesticides on farms from New Jersey to Iowa to California,” said Eric Mader, assistant pollinator program director for The Xerces Society for Invertebrate Conservation. “This type of action is the first and most important step in reversing the ongoing decline of bees, butterflies, and other pollinators.”

Whole Foods Market is launching Responsibly Grown by rating hundreds of products with key suppliers, more than 50 percent of produce nationwide.  The goal of reaching 100 percent ratings of all fruits, vegetables and flowers will be achieved over time.

Shoppers interested in learning more about Responsibly Grown can visit wholefoodsmarket.com/responsiblygrown.

EXPERTS

Matt Rogers

Global Produce Coordinator

Matt works on standards and sourcing for the Whole Foods Market produce team supporting policy and compliance on social, environmental and food safety issues.

 

J. C. Penney Company, Inc. announces the appointment of Marvin Ellison as President and CEO-Designee effective November 1, 2014

  • Home Depot U.S. Stores Head to Succeed Myron E. (Mike) Ullman as JCPenney CEO on August 1, 2015
  • Ullman to Become Executive Chairman of the Board

PLANO, Texas, 2014-10-15— /EPR Retail News/ — The Board of Directors of J. C. Penney Company, Inc. (NYSE: JCP) today announced the appointment of Marvin Ellison, currently executive vice president of stores at Home Depot, as President and CEO-Designee, effective November 1, 2014. Mr. Ellison will also join the Board of Directors. He will then succeed Myron E. (Mike) Ullman, III as CEO of JCPenney on August 1, 2015. At that time, Mr. Ullman will become Executive Chairman of the Board for a period of one year. Prior to his 12-year tenure at Home Depot, Mr. Ellison served for 15 years in various positions at Target.

Thomas J. Engibous, Chairman of JCPenney’s Board of Directors, said, “The Board has completed its search for the right CEO to lead the next stage of JCPenney’s growth. We are delighted to have found that person in Marvin Ellison, a highly accomplished retail executive with a history of delivering top and bottom line results at major American retailers. He brings to the role, among other assets, an extensive knowledge of store operations and supply chain management as well as a demonstrated ability to successfully run large retail organizations. In light of these attributes, we believe he is well equipped to return the Company to profitable growth.

I would like to express the Board’s deep gratitude to Mike Ullman for all he has done, and will continue to do, for JCPenney. After agreeing to return to the Company during the most difficult period in its history, he has stabilized the business, improved performance across the board, and placed the Company on a course for profitable growth. His dedicated service has been invaluable to the Company, and we look forward to his continued contributions as CEO during the transition and as Executive Chairman thereafter.”

Mr. Ullman said, “It is a great pleasure to welcome Marvin Ellison to JCPenney. Over the course of his career, he has proven his ability to produce results by improving operations, building customer loyalty, and motivating his teams. His experience and leadership are exactly what we need to accelerate the progress we have made over the last 18 months. I look forward to working closely with him and the rest of our outstanding team in the coming months to ensure a smooth transition and a successful future for JCPenney.”

Mr. Ellison said, “I am honored by this appointment and excited about the opportunity to help lead the continued resurgence of JCPenney. This Company has been an important part of the American retail landscape for over one hundred years. Today, it is moving in the right direction and there is an extraordinary passion to win at every level of the organization. As President and, ultimately, CEO, I will be focused on positioning the Company to compete in a rapidly changing retail environment for the benefit of our customers, shareholders, suppliers and associates. I am confident that we have the customer proposition, the brand, and the talent to make JCPenney successful over the long term.”

About Marvin Ellison
Marvin Ellison, 49, has nearly 30 years of experience in the retail industry. He has spent the last 12 years at Home Depot. As executive vice president of U.S. stores since August 2008, he has been the senior-most operations leader for Home Depot’s approximately 2,000 stores. Prior to that, he was president of the Northern Division, a role in which he had responsibility for the sales and operations of more than 700 stores in 21 states and led a team of more than 150,000 associates. Previously, he was senior vice president of global logistics, with oversight of all domestic distribution, transportation, store and appliance delivery, import distribution and international logistics throughout the United States, Canada, Mexico, China and more than 35 other countries. Before joining Home Depot, Mr. Ellison spent 15 years with Target in a variety of operational roles, including Corporate Director of Asset Protection.

Mr. Ellison serves on the board of directors of FedEx. He is actively involved in philanthropic efforts including inner-city school renovations, as well as mentoring programs aimed at developing inner-city youth. He earned a business administration degree in marketing from the University of Memphis and a Master of Business Administration from Emory University.

For further information, contact:

Media Relations
jcpnews@jcp.com; 972.431.3400

Investor Relations
jcpinvestorrelations@jcpenney.com; 972.431.5500

About JCPenney
J. C. Penney Company, Inc. (NYSE: JCP), one of the nation’s largest apparel and home furnishing retailers, is dedicated to fitting the diversity of America with unparalleled style, quality and value. Across approximately 1,060 stores and at jcpenney.com, customers will discover a broad assortment of national, private and exclusive brands to fit all shapes, sizes, colors and wallets. For more information, please visit jcpenney.com.

Forward-Looking Statements
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expect” and similar expressions identify forward-looking statements, which include, but are not limited to, statements regarding sales trends, gross margin, liquidity and cost savings. Forward-looking statements are based only on the Company’s current assumptions and views of future events and financial performance. They are subject to known and unknown risks and uncertainties, many of which are outside of the Company’s control that may cause the Company’s actual results to be materially different from planned or expected results. Those risks and uncertainties include, but are not limited to, general economic conditions, including inflation, recession, unemployment levels, consumer confidence and spending patterns, credit availability and debt levels, changes in store traffic trends, the cost of goods, more stringent or costly payment terms and/or the decision by a significant number of vendors not to sell us merchandise on a timely basis or at all, trade restrictions, the ability to monetize non-core assets on acceptable terms, the ability to implement our turnaround strategy, customer acceptance of our new strategies, our ability to attract, motivate and retain key executives and other associates, the impact of cost reduction initiatives, our ability to generate or maintain liquidity, implementation of new systems and platforms, changes in tariff, freight and shipping rates, changes in the cost of fuel and other energy and transportation costs, increases in wage and benefit costs, competition and retail industry consolidations, interest rate fluctuations, dollar and other currency valuations, the impact of weather conditions, risks associated with war, an act of terrorism or pandemic, the ability of the federal government to fund and conduct its operations, a systems failure and/or security breach that results in the theft, transfer or unauthorized disclosure of customer, employee or Company information, legal and regulatory proceedings and the Company’s ability to access the debt or equity markets on favorable terms or at all. There can be no assurances that the Company will achieve expected results, and actual results may be materially less than expectations. Please refer to the Company’s most recent Form 10-Q and subsequent filings for a further discussion of risks and uncertainties. Investors should take such risks into account and should not rely on forward-looking statements when making investment decisions. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We do not undertake to update these forward-looking statements as of any future date.

###

German photographer Marius Vieth named the CBRE Urban Photographer of the Year

2014 Competition Draws 11,500 Entries from 79 Countries

​Los Angeles, 2014-10-15— /EPR Retail News/ — German photographer Marius Vieth has been named the winner of the CBRE Urban Photographer of the Year competition for 2014.  Mr. Vieth’s image, ‘Masks of Society’ was selected from among 11,500 entries from 79 countries, confirming the competition’s place as the largest of its kind.

The theme of the competition is ‘Cities at Work’ and photographers around the world are asked to capture the essence and reality of the working life of a city, with all of its beauty and day-to-day routine. The wide pool of entries captured urban scenes as diverse as the bustling roads of Mumbai to the quiet calm of street vendors shutting down their shops for the night.

“Cities are the life blood of CBRE’s business,” said Paul Suchman, the company’s Chief Marketing Officer.  “We are pleased to recognize and celebrate the work of so many photographers – both amateur and professional – to capture the essence of global cities through the visual image.  We congratulate Marius Vieth and thank our participants from around the world.  The quality of the images we received this year was truly outstanding.”

Mr. Vieth, this year’s winner, said, “Being named the 2014 CBRE Urban Photographer of the Year is a fantastic achievement. Street photography has been a passion of mine for many years and I knew my ‘Mask of Society’ image was the perfect shot for the competition’s ‘Cities at Work’ brief. I’m constantly looking for new and interesting angles of urban life and its constantly changing landscape never fails to challenge me.”

Mr. Vieth’s prize is a luxury photography safari from a range of destinations across the globe.

This year, the competition also offered regional and youth prizes for the first time. The Europe, Middle East and Africa prize was awarded to Carlos da Costa Branco for ‘Dancing in the Street’ which depicts a traffic warden in Lisbon. The Asia Pacific prize went to Ly Hoang Long for ‘Net Mending’ a striking image of women mending fishing nets in Vietnam. Johanna Siegmann was the winner of the Americas prize for her image ‘Buffer Zone’. The youth prizes, in partnership with children’s development charity Plan International, were awarded to Sarah Scarborough (13-15 category) for ‘A Distant Silhouette’  taken in Venice and Szabolcs Simo (16-25 category) of Hungary for ‘Christmas Tram’.

For competition updates, prize information and more images follow us on Twitter: @UPOTY or visitwww.cbreupoty.com

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.

Harris Teeter opens its Village Square Shopping Center store on Oct. 29, 2014

Matthews, N.C., 2014-10-15— /EPR Retail News/ — Harris Teeter is proud to welcome shoppers to its Village Square Shopping Center store on Wednesday, Oct. 29, 2014 and is celebrating the grand opening with a ribbon cutting ceremony at 8 a.m. on that day. This store replaces Harris Teeter’s Cary Towne Center location, which closed earlier this year. Harris Teeter will employ approximately 150 associates at this location.

Harris Teeter was co-founded in 1960 by North Carolina grocers W.T. Harris and Willis Teeter. There were 15 stores in operation; Harris Teeter now operates over 228 stores, including 149 in North Carolina. Harris Teeter will employ approximately 150 associates at this location.

In each of its stores, including its newest store at Village Square Shopping Center, 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.

Harris Teeter at the Village Square Shopping Center will be open 24 hours, and the Harris Teeter pharmacy will be open seven days per week, as well.

Fast Facts:

Store Address  Village Square Shopping Center
885 Walnut St.
Cary, N.C. 27511
 Grand Opening Date  Wednesday, Oct. 29, 2014
 Grand Opening Time  8 a.m., ribbon cutting
 Store Hours  24 hours
 Pharmacy Hours  9 a.m. – 9 p.m. M-F; 9 a.m. – 7 p.m., Sat.; noon – 6 p.m., Sun.
Square Footage  53,000
 Check-Out Lanes  Eight checkouts and four USCAN checkouts

Features and Departments:
Full-service Butchers Market with Rancher Beef, HT Reserve Angus Beef • Full-service Fishermans Market • Shrimp Party Trays • Farmers Market Produce • Full-Service Floral and Custom Floral Arrangements • Expanded Fresh Cut Flower Section • Produce Party Trays • Gift Basket Program • Full-service Fresh Foods Market Deli/Bakery • Sushi • Self-Serve Olives • Salad Bar and Fresh Made Salads • International Cheeses • European Pastries • Chef Prepared Foods to Go • Ice Cream Cakes and Custom Cakes • Wedding Cakes • Sub Shop • La Brea Artisan Bread Kiosk • Italian Meat Selection • Fresh Made Pizza • Party Trays • Made to Order Sandwich Program • Boar’s Head Meats & Cheeses • Slicing Meats & Cheeses • Rotisserie Items • Starbucks • Organic, Natural and Specialty Foods • International Foods • Expanded Olive Oil Variety • Wine and Beer • Imported Beer • GM Wine Set • Bulk Candy • Pharmacy with Drive-Thru • Free Blood Pressure Testing • Cosmetics Department • Western Union • Coinstar • Red Box DVD Rental Kiosk • Double Coupons • Club 60 Senior Discount • Express Lane Online Shopping • Carryout Service • USCAN • Sit-down eating area

###

Harris Teeter opens its Village Square Shopping Center store on Oct. 29, 2014

Harris Teeter opens its Village Square Shopping Center store on Oct. 29, 2014