Russia’s largest food retailer “Magnit” announces the opening of its 8000th convenience store

Krasnodar, Russia, 2014-10-30— /EPR Retail News/ — PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MICEX and LSE: MGNT) announces the opening of the 8000th convenience store.

Please be informed that today the Company opened its 8000th convenience store located at 29a Svobody street, Chukhloma, Kostroma oblast. This is the first “Magnit” store in this town where population is about 5000 people. The total space of the store is 477 sq. m. and its selling space is 351 sq. m. The outlet is owned by the Company.

For further information, please contact:
Timothy Post Director, Investor Relations
Email: post@magnit.ru
Office: +7-861-277-4554 x 17600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562

Dina Svishcheva Deputy Director, Investor Relations
Email: Chistyak@magnit.ru
Office: +7-861-277-45-54 x 15101
Mobile: +7-961-511-0202
Direct Line: +7-861-277-4562

Company description:
Magnit is Russia’s largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of September 30, 2014, Magnit operated 25 distribution centers and over 9,020 stores (7,891 convenience, 243 hypermarkets, and 886 drogerie stores) in approximately 2,000 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2014, Magnit had revenues of $9,979 million USD and an EBITDA of $1,045 million USD. Magnit’s local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor’s of BB. Measured by market capitalization, Magnit is one of the largest retailers in Europe.

Indonesia: PT. Matahari Putra Prima Tbk opens its 103rd Hypermart located at Technomart in Karawang

Tangerang, Indonesia, 2014-10-30— /EPR Retail News/ — PT. Matahari Putra Prima Tbk (MPPA), a modern multi-format retailer in Indonesia, operator of Hypermart, Foodmart and Boston Health & Beauty, opened its 103rd Hypermart in Karawang. The new Hypermart is located at Technomart, the most comprehensive commercial center of electronics, automotive, and furniture in Karawang and West Java. Hypermart Technomart is the first Hypermart store in Karawang and the 12th store in the province of West Java.

The opening ceremony of Hypermart was attended by the Director of Operations, Gilles Pivon, Director of Communications and Public Relations, Danny Kojongian, the Board of Directors of PT. Galuh Mas, representatives of the government of Karawang, West Java, and invited guests.

Director of Communications and Public Relations MPPA, Danny Kojongian said, “Seeing the potential development of international port and airport, along with the economic growth that reached 6.26%and the total population of 2.2 million people, the company decided to open the first Hypermart in Karawang”.

Danny stated; “The new Hypermart store will contribute in improving the economy in Karawang region by creating jobs and embrace the small and medium enterprises to become suppliers for Hypermart”.

According to Andreas Slamet, Asset Management residential center Galuh Mas, “Common vision and mission embrace Technomart and Hypermart to cooperate in bringing Hypermart to the community of Karawang. Together, we will create new job opportunities for the people of Karawang and boost the
regional economy”.

Store General Manager Hypermart of Technomart Karawang, Angga Sanusi said “All employees of Hypermart Technomart are ready to serve the needs of Karawang customers with quality products, attractive promotions and affordable prices”.

About PT Matahari Putra Prima Tbk (MPPA)
PT Matahari Putra Prima (MPPA) operates Hypermart, Foodmart and Boston Health & Beauty. Total 2013 Gross Sales amounted to Rp 12.6 Trillion (audited), a growth of 11.1% from 2012. Net Income 2013 amounted to Rp 445 Billion, which grew 85.8% from Rp 239 Billion in 2012. Hypermart has the widest store network among hypermarket operators in more than 60 cities ranging from Tanjung Balai (Medan) to Jayapura (Papua).

MPPA continues to receive both domestic and international acknowledgement with several awards such as: 2013 Retail Asia – Gold Award, 2011-2014 Superbrand Indonesia, 2013 Best of The Best 50 Performing Companies by Forbes Indonesia, Top Brand Awards, 2013 and 2014 Indonesia Most Admired Companies by Warta Ekonomi, 2013 Excellent Service Experience Award and 2013 Customer Satisfaction Award by Roy Morgan.

For further information, please contact :
PT. Matahari Putra Prima, Tbk
Danny Kojongian, Director Communications and Public Relations
Email: danny.kojongian@hypermart.co.id
Fernando Repi, Head of Public Relations
Mobile : 081511181187
Email: fernando.repi@hypermart.co.id
www.hypermart.co.id

Giant Food recalls Giant brand packaged cilantro due to potential Salmonella contamination

Landover, Md., 2014-10-30— /EPR Retail News/ — Following a recall by Shenandoah Growers, Giant Food announced it removed from sale Giant brand packaged cilantro due to potential Salmonella contamination.

The following product is included in this recall:

  • Giant packaged cilantro, 2.5 oz., UPC 68826703077, purchased on or after October 9, 2014

Giant Food has received no reports of illnesses to date. Consumption of food contaminated with Salmonella can cause salmonellosis, one of the most common bacterial foodborne illnesses. Salmonella infections can be life-threatening, especially to those with weak immune systems, such as infants, the elderly and persons with HIV infection or undergoing chemotherapy. The most common manifestations of salmonellosis are diarrhea, abdominal cramps, and fever within eight to 72 hours. Additional symptoms may be chills, headache, nausea and vomiting that can last up to seven days.

Customers who have purchased the product should discard any unused portions and bring their purchase receipt to Giant Food for a full refund.

Consumers looking for additional information on the recall may call Shenandoah Growers at 844-524-3885. In addition customers may call Giant Food Customer Service at 888-469-4426 for more information. Customers can also visit the Giant website at www.giantfood.com.

About Giant Food of Landover, Md.
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 is owned by Ahold USA, Inc. For more information on Giant, visit www.giantfood.com.

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

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The Stop & Shop Supermarket Company LLC recalls Bell & Evans gluten free breaded chicken products due to potential Staphylococcal enterotoxin contamination

Purchase, NY & Quincy, MA, 2014-10-30— /EPR Retail News/ — Following a recall by Murry’s Inc., The Stop & Shop Supermarket Company LLC announced it removed from sale Bell & Evans gluten free breaded chicken products due to potential Staphylococcal enterotoxin contamination.

The following products are included in this recall:

  • Bell & Evans Gluten Free Breaded Chicken Breasts, 10.5 oz., UPC 3898527201, best by date of August 9, 2015
  • Bell & Evans Gluten Free Breaded Chicken Nuggets, 12 oz., UPC 3898527729, best by date of August 9, 2015

Stop & Shop has received no reports of illnesses to date. Staphylococcal enterotoxins are fast acting, sometimes causing gastrointestinal illness in as little as 30 minutes. Symptoms usually develop within one to six hours after eating contaminated food. Individuals typically experience several of the following: nausea, vomiting, stomach cramps, and diarrhea. The illness is usually mild and most people recover after one to three days.

Customers who have purchased the product should discard any unused portions and bring their purchase receipt to Stop & Shop for a full refund.

Consumers looking for additional information on the recall may call Murry’s customer service at 717-273-9361. In addition customers may call Stop & Shop Customer Service at 1-800-767-7772 for more information. Customers can also visit the Stop & Shop website at www.stopandshop.com.

About Stop & Shop
The Stop & Shop Supermarket Company LLC employs approximately 59,000 associates and operates 395 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.

Contacts:
Arlene Putterman
Stop & Shop NY Metro Division
(914) 251-2834
arlene.putterman@stopandshop.com

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

Tengelmann Group’s subsidiary TREI Real Estate GmbH opens another speciality retail centre under the “VENDO PARK” brand located in Chełm, Poland

VENDO PARK in Chełm, Poland, opens

Mülheim an der Ruhr, 2014-10-30— /EPR Retail News/ — TREI Real Estate GmbH, the real estate subsidiary of the Tengelmann Group, today opens another speciality retail centre under the “VENDO PARK” brand. The new centre is located in Chełm, Poland. “This is a special day for us, because today we are able to celebrate the opening of the tenth VENDO PARK within the space of just over two years,” said Michael Neervoort, Managing Director of TREI Real Estate, delightedly. The site in Chełm is the company’s third such property in Poland, alongside those in Nysa and Milanówek. The other VENDO PARKS are located in Slovakia and the Czech Republic.

Chełm is close to the city of Lublin, south-east of Warsaw. Around 68,000 people live in the centre’s catchment area. The new VENDO PARK has rental space of approximately 5,000 m² and around 190 parking spaces for customers. As with all other VENDO PARKS before, this property was already fully let before opening. Among the tenants are notable retailers from the non-food sector like KiK, Rossmann, Deichmann and Media Expert. This range of goods for daily needs is complemented by the comprehensive range on offer at a neighbouring hypermarket. Interested customers can find the range of goods on offer from the retailers at VENDO PARK on the home page at www.chelm.vendo-park.com.

TREI Real Estate plans to systematically drive forward its transnational retail park concept in the future. “The high demand shown by our retail partners validates our intentions to implement more projects. This demand is particularly high in Poland, where we see the potential for at least 40 sites,” said Mariusz Rodak, Director of Construction and Administration at TREI Real Estate Poland.

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LS travel retail North America opens sports apparel and accessories retail store The Scoreboard in Toronto Pearson International Airport

TORONTO, 2014-10-30— /EPR Retail News/ — LS travel retail North America and Toronto Pearson International Airport (YYZ) are pleased to announce the opening of a sports apparel and accessories retail concept. Awarded in June as part of a competitive process, the new concept, named The Scoreboard, officially opened yesterday in YYZ Terminal 1 Domestic.

Providing travelers with the best in Toronto sports team memorabilia, The Scoreboard is an exciting addition to Canada’s largest airport, introducing Toronto Pearson’s passengers to a local, flexible, dynamic sports store that entices both the die-hard fan as well as the out-of-town traveler looking for an authentic piece of the Toronto sports scene.

“We are very proud of this new proprietary concept, developed specifically for Toronto Pearson”, said Vadim Motlik, Chief Development Officer at LS travel retail. “With its innovative design and flexible approach, the Scoreboard brings the best of Toronto sports to the travelers all year round and further delivers on our promise of superior customer experience in YYZ”.

In addition to authentic merchandise and officially licensed products from Toronto’s Blue Jays, Maple Leafs, Raptors, Argonauts and more, The Scoreboard offers products related to the moment’s hottest sports trends, thanks to a flexible section dedicated to the most popular sporting events. From the 2015 Pan Am Games (whose representatives attended yesterday’s Grand Opening event) to the Honda Indy, and the 2016 Summer Olympics, travelers and workers at Toronto Pearson’s will enjoy popular, quality sports gear and souvenirs all year round. They will also be able to catch a glimpse of their favourite games while shopping, through the store’s four TV screens.

“Toronto is a city that loves its sports teams”, said Scott Collier, Vice President of Customer and Terminal Services for the GTAA. “Having authentic sports merchandise from great teams like the Leafs, the Raptors and the Blue Jays is a great fit for Toronto Pearson. The Scoreboard provides passengers with one more opportunity to take home a piece of Toronto’s rich sports heritage.”

With over 36 million passengers traveling through the Airport each year, Toronto Pearson is the largest and busiest airport in Canada, and a major North American global gateway.

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LS travel retail North America opens sports apparel and accessories retail store The Scoreboard in Toronto Pearson International Airport

LS travel retail North America opens sports apparel and accessories retail store The Scoreboard in Toronto Pearson International Airport

CBRE Group, Inc. reports 31% revenue increase for the third quarter ended September 30, 2014

Revenue Increases 31% and Adjusted Earnings Per Share Rises 33% to $0.40

​Los Angeles, CA, 2014-10-30— /EPR Retail News/ — CBRE Group, Inc. (NYSE:CBG) today reported very strong revenue and earnings growth for the third quarter ended September 30, 2014.

  • Revenue for the quarter totaled $2.3 billion, an increase of 31% from $1.7 billion in the third quarter of 2013.
  • Excluding selected items1, net income2 rose 33% to $132.6 million from $99.7 million in the third quarter of 2013, and adjusted earnings per diluted share also improved 33% to $0.40 from $0.30 in the prior-year period. For the third quarter, selected items (net of income taxes) totaled $25.5 million – including $14.1 million related to the early re-payment of debt and $11.8 million of non-cash amortization relating to prior acquisitions – versus $5.3 million for the same period in 2013.
  • On a U.S. GAAP basis, net income rose 13% to $107.1 million, compared with $94.4 million for the third quarter of 2013.  GAAP earnings per diluted share rose 14% to $0.32, compared with $0.28 in last year’s third quarter.
  • Excluding selected items, EBITDA3 increased 30% to $292.2 million from $225.2 million in the third quarter of 2013. EBITDA3 (including selected items) rose 31% to $292.9 million for the third quarter of 2014, from $224.4 million for the same period a year earlier.

Management Commentary
“CBRE produced excellent growth across markets and business lines during the third quarter, reflecting the strength of our integrated, global service offering,” said Bob Sulentic, president and chief executive officer of CBRE. “Growth was strong in all three global regions and we achieved double-digit revenue increases in nearly all business lines, led by impressive gains in capital markets, occupier outsourcing and leasing.”

Revenue rose by 20% or more in all three global regions. Europe, the Middle East and Africa (EMEA) achieved 25% (19% in local currency) organic revenue growth – 101% (95% in local currency) including the contributions from Norland Managed Services, Ltd, which CBRE acquired in late December 2013. Asia Pacific posted its strongest growth in 16 quarters with revenue rising 25% (23% in local currency). The Americas, CBRE’s largest business segment, saw revenue improve 20% (same in local currency), fueled by double-digit increases in every major business line.

Globally, property sales revenue surged 33% (32% in local currency) during the quarter, with significant increases across all three global regions. Notably, U.S. property sales improved 31% as CBRE executed several large single-asset and portfolio sales during the quarter, including One Wall Street for Bank of New York Mellon and a $1.8 billion multifamily portfolio for DRA Advisors and Bell Partners Corporation. Strong capital flows into commercial real estate – coupled with the continued availability of debt capital – led to a 41% increase (40% in local currency) in commercial mortgage services revenue.

Large occupiers continue to demonstrate a strong appetite for integrated real estate services.  CBRE is well placed to capitalize on this ongoing trend, as reflected in 26 new outsourcing contracts signed during the third quarter. Global occupier outsourcing revenue improved 18% on an organic basis during the quarter. With contributions from the Norland acquisition, global revenue from this business line rose 61%.

Property leasing revenue improved by double digits for the fifth consecutive quarter, rising by 15% (14% in local currency). Growth was paced by an 18% increase (18% in local currency) in the Americas, where CBRE continues to make strong market share gains.

Development Services saw revenue rise 27% and EBITDA increase four-fold reflecting the focus on developing high-quality assets in markets and sectors with significant investor demand.

Global Investment Management revenue declined during the quarter, primarily due to last year’s third quarter including nearly $30 million of carried-interest revenue, which did not recur in this year’s period.  Otherwise, revenue in this segment would have increased 7% (5% in local currency).  Carried interest is incremental revenue that CBRE earns when it sells assets within portfolios it manages for institutional investors at values that exceed specified return thresholds. The timing of such sales is determined by the macro market environment and fund lifecycles. Capital raising activity in Global Investment Management remained strong with $9.1 billion of new commitments over the past 12 months.

The ongoing shift in the company’s business mix toward contractual revenue continued during the third quarter. Contractual revenue rose to 51% of total revenue – up from 48% in the third quarter of 2013.

During the third quarter, CBRE issued $300 million of 5.25% senior notes due 2025 and on October 27, 2014, CBRE used the note proceeds, together with cash on hand and borrowing under our revolving credit facility, to redeem in full its 6.625% senior notes due 2020 ($350 million aggregate principal amount).  These actions will lower CBRE’s annual interest expense by approximately $5 million and will extend debt maturity on $300 million of its senior unsecured debt by 4-1/2 years at an attractive, fixed interest rate.

Third-Quarter 2014 Segment Results

Americas Region (U.S., Canada and Latin America)

  • Revenue rose 20% (same in local currency) to $1.3 billion, compared with $1.1 billion for the third quarter of 2013. The improved revenue was driven by higher property sales, leasing, occupier outsourcing and commercial mortgage services activities.
  • EBITDA increased 42% to $187.5 million compared with $132.2 million in last year’s third quarter.
  • Operating income totaled $136.1 million, an increase of 41% from $96.4 million for the prior-year third quarter.

EMEA Region (primarily Europe)

  • Revenue rose 101% (95% in local currency) to $574.5 million, compared with $285.5 million for the third quarter of 2013.  Excluding the contributions from Norland, EMEA revenue increased 25% (19% in local currency) over the prior-year period.  The increase was driven by higher property sales and appraisal activities as well as significant organic growth in occupier outsourcing.
  • EBITDA increased 111% to $37.5 million compared with $17.7 million in the prior-year third quarter.
  • Operating income totaled $20.2 million, an increase of 60% from $12.6 million for the third quarter of 2013.

Asia Pacific Region (Asia, Australia and New Zealand)

  • Revenue was $253.7 million, an increase of 25% (23% in local currency) from $202.7 million for the third quarter of 2013.  Performance improved in several countries, particularly Japan and Australia.
  • EBITDA increased 74% to $22.8 million compared with $13.1 million in the prior-year third quarter.
  • Operating income totaled $18.6 million, an increase of 81% compared with $10.3 million in the third quarter of 2013.

Global Investment Management (investment management operations in the U.S., Europe and Asia Pacific)

  • Revenue was $105.0 million compared with $127.3 million for the third quarter of 2013.
  • Excluding selected items, EBITDA totaled $20.4 million compared with $56.2 million in the prior-year third quarter.  EBITDA (including selected items) totaled $21.1 million compared with $55.4 million in the third quarter of 2013.
  • Operating income was $15.8 million compared with $42.5 million for the third quarter of 2013.
  • Prior-year period results included $29.9 million of carried-interest revenue and $2.3 million of carried-interest expense reversal, while third-quarter 2014 results included $0.7 million of carried-interest revenue. Excluding carried interest, revenue was up 7%, driven by significantly higher acquisition fees.

Development Services (real estate development and investment activities primarily in the U.S.)

  • Revenue rose 27% to $16.0 million, compared with $12.6 million for the third quarter of 2013.
  • EBITDA increased 300% to $24.0 million compared with $6.0 million in the prior-year period. The increase was largely driven by higher income from property sales (reflected in both gain on disposition of real estate and equity earnings) in the current-year third quarter.
  • Operating loss totaled $5.5 million compared with an operating loss of $3.7 million for the third quarter of 2013. Under U.S. GAAP, equity earnings, which include some property sales, are not part of the calculation of operating income/loss.
  • Reflecting improving fundamentals, development projects in process totaled $5.1 billion, up $300 million from second-quarter 2014, and the inventory of pipeline deals totaled $2.9 billion, up $1 billion from second-quarter 2014.

Nine-Month 2014 Results

  • Revenue for the nine months ended September 30, 2014 totaled $6.3 billion, an increase of 26% from $5.0 billion for the nine months ended September 30, 2013.
  • Excluding selected items, net income increased 32% to $333.7 million for the first nine months of 2014 from $253.0 million in the same period in 2013. Adjusted earnings per diluted share also increased 32% to $1.00 compared with $0.76 for the prior-year period. Selected items (net of income taxes) totaled $53.5 million for the first nine months of 2014, and $51.1 million for the same period in 2013.
  • On a U.S. GAAP basis, net income rose 39% to $280.2 million for the first nine months of 2014 from $201.9 million for the same period of 2013 and earnings per diluted share increased 38% to $0.84 compared with $0.61 for the prior-year period.
  • Excluding selected items, EBITDA increased 20% to $753.7 million in the current nine-month period from $629.6 million in the first nine months of 2013. EBITDA (including selected items) also rose 20% to $750.3 million for the first nine months of 2014, compared with $624.6 million for the same period a year earlier.

Business Outlook
“We enter the final months of 2014 with strong momentum across our business lines,” said Mr. Sulentic. “Underlying fundamentals continue to improve and market sentiment remains positive.  We continue to execute our strategy by investing in our people and platform to create value for our clients and to extend our competitive advantage in the marketplace.”

With two months left in 2014, CBRE’s full-year performance is coming into sharper focus.  Therefore, the company is raising its adjusted EPS guidance4 for the full year to a range of $1.65 to $1.70.  CBRE is taking this action while being mindful of the slowing economic growth outside the U.S. and the challenging earnings comparison the company faces in the fourth quarter.  CBRE generated approximately $58 million of EBITDA from carried interest in the fourth quarter of 2013.

Conference Call Details
The company’s third-quarter earnings conference call will be held today (Wednesday, October 29, 2014) at 5:00 p.m. Eastern Time.  A webcast will be accessible through the Investor Relations section of the company’s website at www.cbre.com/investorrelations.

The direct dial-in number for the conference call is 877-407-8037 for U.S. callers and 201-689-8037 for international callers.  A replay of the call will be available starting at 10 p.m. Eastern Time on October 29, 2014, and ending at midnight Eastern Time on November 6, 2014. The dial-in number for the replay is 877-660-6853 for U.S. callers and 201-612-7415 for international callers.  The access code for the replay is 13591778.  A transcript of the call will be available on the company’s Investor Relations website at www.cbre.com/investorrelations.

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.

Note: This release contains forward-looking statements within the meaning of the ”safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding our future growth momentum, operations, financial performance and business outlook.  These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results and performance in future periods to be materially different from any future results or performance suggested in forward-looking statements in this release.  Any forward-looking statements speak only as of the date of this release and, except to the extent required by applicable securities laws, the Company expressly disclaims any obligation to update or revise any of them to reflect actual results, any changes in expectations or any change in events.  If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.  Factors that could cause results to differ materially include, but are not limited to: disruptions in general economic and business conditions, particularly in geographies where our business may be concentrated; volatility and disruption of the securities, capital and credit markets; interest rate increases; the cost and availability of capital for investment in real estate; clients’ willingness to make real estate or long-term contractual commitments and other factors affecting the value of real estate assets, inside and outside the United States; our ability to control costs relative to revenue growth; our ability to retain and incentivize producers; our ability to identify, acquire and integrate synergistic and accretive businesses; costs and potential future capital requirements relating to businesses we may acquire; integration challenges arising out of companies we may acquire; continued high levels of, or increases in, unemployment and general slowdowns in commercial activity; variations in historically customary seasonal patterns that cause our business not to perform as expected; trends in pricing and risk assumption for commercial real estate services; our ability to diversify our revenue model to offset cyclical economic trends in the commercial real estate industry; foreign currency fluctuations; our ability to attract new user and investor clients; our ability to retain major clients and renew related contracts; a reduction by companies in their reliance on outsourcing for their commercial real estate needs, which would affect our revenues and operating performance; client actions to restrain project spending and reduce outsourced staffing levels; changes in tax laws in the United States or in other jurisdictions in which our business may be concentrated that reduce or eliminate deductions or other tax benefits we receive; changes in international law (including anti-corruption, anti-money laundering and trade control law), particularly in Russia, Eastern Europe and the Middle East, due to the rising level of political instability in those regions; our ability to maintain our effective tax rate at or below current levels; our ability to compete globally, or in specific geographic markets or business segments that are material to us; our ability to leverage our global services platform to maximize and sustain long-term cash flow; our ability to maintain EBITDA margins that enable us to continue investing in our platform and client service offerings; our exposure to liabilities in connection with real estate advisory and property management activities and our ability to procure sufficient insurance coverage on acceptable terms; declines in lending activity of Government Sponsored Enterprises, regulatory oversight of such activity and our mortgage servicing revenue from the U.S. commercial real estate mortgage market; our ability to manage fluctuations in net earnings and cash flow, which could result from poor performance in our investment programs, including our participation as a principal in real estate investments; the ability of our Global Investment Management business to maintain and grow assets under management and achieve desired investment returns for our investors, and any potential related litigation, liabilities or reputational harm possible if we fail to do so; our ability to comply with laws and regulations related to our global operations, including real estate licensure, labor and employment laws and regulations, as well as the anti-corruption laws of the U.S. and other countries; our leverage and our ability to perform under our credit facilities; liabilities under guarantees, or for construction defects, that we incur in our Development Services business; the ability of CBRE Capital Markets to periodically amend, or replace, on satisfactory terms, the agreements for its warehouse lines of credit; the effect of significant movements in average cap rates across different property types; and the effect of implementation of new accounting rules and standards.

Additional information concerning factors that may influence the Company’s financial information is discussed under “Risk Factors”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, “Quantitative and Qualitative Disclosures About Market Risk” and “Cautionary Note on Forward-Looking Statements” in our Annual Report on Form 10-K for the year ended December 31, 2013 (as amended), and under “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, “Quantitative and Qualitative Disclosures About Market Risk” and “Forward-Looking Statements” in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2014, as well as in the Company’s press releases and other periodic filings with the Securities and Exchange Commission.  Such filings are available publicly and may be obtained on the Company’s website at www.cbre.com or upon written request from the CBRE Investor Relations Department at investorrelations@cbre.com.

1 Selected items included the write-off of financing costs, amortization expense related to certain intangible assets attributable to acquisitions, certain carried interest incentive compensation (reversal) expense and integration and other costs related to acquisitions.  For the impact of selected charges on specific periods, see the “Non-GAAP Financial Measures” section of this press release.

2 A reconciliation of net income attributable to CBRE Group, Inc. to net income attributable to CBRE Group, Inc., as adjusted for selected items, is provided in the section of this press release entitled “Non-GAAP Financial Measures.”

3 EBITDA represents earnings before net interest expense, write-off of financing costs, income taxes, depreciation and amortization, while amounts shown for EBITDA, as adjusted (or normalized EBITDA), remove the impact of certain cash and non-cash charges related to acquisitions and certain carried interest incentive compensation (reversal) expense.  Our management believes that both of these measures are useful in evaluating our operating performance compared to that of other companies in our industry because the calculations of EBITDA and EBITDA, as adjusted, generally eliminate the effects of financing and income taxes and the accounting effects of capital spending and acquisitions, which would include impairment charges of goodwill and intangibles created from acquisitions. Such items may vary for different companies for reasons unrelated to overall operating performance.  As a result, our management uses these measures to evaluate operating performance and for other discretionary purposes, including as a significant component when measuring our operating performance under our employee incentive programs. Additionally, we believe EBITDA and EBITDA, as adjusted, are useful to investors to assist them in getting a more complete picture of our results from operations.

However, EBITDA and EBITDA, as adjusted, are not recognized measurements under U.S. generally accepted accounting principles, or GAAP, and when analyzing our operating performance, readers should use EBITDA and EBITDA, as adjusted, in addition to, and not as an alternative for, net income as determined in accordance with GAAP. Because not all companies use identical calculations, our presentation of EBITDA and EBITDA, as adjusted, may not be comparable to similarly titled measures of other companies. Furthermore, EBITDA and EBITDA, as adjusted, are not intended to be measures of free cash flow for our management’s discretionary use, as they do not consider certain cash requirements such as tax and debt service payments. The amounts shown for EBITDA and EBITDA, as adjusted, also differ from the amounts calculated under similarly titled definitions in our debt instruments, which are further adjusted to reflect certain other cash and non-cash charges and are used to determine compliance with financial covenants and our ability to engage in certain activities, such as incurring additional debt and making certain restricted payments.

For a reconciliation of EBITDA and EBITDA, as adjusted, to net income attributable to CBRE Group, Inc., the most comparable financial measure calculated and presented in accordance with GAAP, see the section of this press release titled “Non-GAAP Financial Measures.”

4 We have not reconciled the non-GAAP earnings per share guidance included in this release to the most directly comparable GAAP measure because this cannot be done without unreasonable effort.

Microsoft Word - Q3 2014 Earnings Release Final.docx

 

 

Microsoft Word - Q3 2014 Earnings Release Final.docx

Non-GAAP Financial Measures

The following measures are considered “non-GAAP financial measures” under SEC guidelines:

(i) Net income attributable to CBRE Group, Inc., as adjusted for selected items

(ii) Diluted income per share attributable to CBRE Group, Inc., as adjusted for selected items

(iii) EBITDA and EBITDA, as adjusted for selected items

The Company believes that these non-GAAP financial measures provide a more complete understanding of ongoing operations and enhance comparability of current results to prior periods as well as presenting the effects of selected charges in all periods presented.  The Company believes that investors may find it useful to see these non-GAAP financial measures to analyze financial performance without the impact of selected charges that may obscure trends in the underlying performance of its business.

Microsoft Word - Q3 2014 Earnings Release Final.docx

 

(1) Includes depreciation and amortization expense related to discontinued operations of $0.9 million for the nine months ended September 30, 2013.

(2) Includes interest expense related to discontinued operations of $3.2 million for the nine months ended September 30, 2013.

(3) Includes provision for income taxes related to discontinued operations of $1.3 million for the nine months ended September 30, 2013.

(4) Includes EBITDA related to discontinued operations of $7.4 million for the nine months ended September 30, 2013.

Microsoft Word - Q3 2014 Earnings Release Final.docx

 

(1) Includes depreciation and amortization expense related to discontinued operations of $0.5 million for the nine months ended September 30, 2013.

(2) Includes interest expense related to discontinued operations of $1.0 million for the nine months ended September 30, 2013.

(3) Includes EBITDA related to discontinued operations of $1.4 million for the nine months ended September 30, 2013.

(4) Includes depreciation and amortization expense related to discontinued operations of $0.4 million for the nine months ended September 30, 2013.

(5) Includes interest expense related to discontinued operations of $2.2 million for the nine months ended September 30, 2013.

(6) Includes provision for income taxes related to discontinued operations of $1.3 million for the nine months ended September 30, 2013.

(7) Includes EBITDA related to discontinued operations of $6.0 million for the nine months ended September 30, 2013.

Microsoft Word - Q3 2014 Earnings Release Final.docx

 

CBRE VP Angela West elected 2014-2015 Global President of SIOR

Tulsa, Oklahoma, 2014-10-30— /EPR Retail News/ — CBRE Group, Inc. today announced that Angela West, Vice President with CB Richard Ellis|Oklahoma, CBRE’s Oklahoma region affiliate, was elected 2014-2015 Global President of SIOR (Society of Industrial and Office Realtors). Ms. West is the youngest individual to be elected President of SIOR, as well as the third female President in the 70-year history of the organization.

“Angela’s election underscores what her colleagues have known for some time; that she is a talented leader and embodies the CBRE values of respect, integrity, service and excellence,” said Edward J. Schreyer, President, CBRE Agency Brokerage and Asset Services, Americas.

Ms. West has 23 years of experience in commercial real estate and an extensive resume that showcases her leadership capabilities. She holds one of only two MCR designations in the state of Oklahoma. Previously in her career, Ms. West was the local President of CCIM, where she was the youngest professional to serve in that role, and was President of the Oklahoma NAIOP chapter where she was the first female in that capacity.

“We are extremely proud of Angela’s appointment as SIOR’s Global President. She has a proven record of leadership within the commercial real estate community, is consistently a top producer, and provides outstanding service to her clients,” said Cary Phillips, Managing Director, CB Richard Ellis|Oklahoma

SIR (Society of Industrial Realtors) was founded in 1939, but in 1986 the organization altered their name to SIOR in order to include office realtors. The group currently has more than 3,000 members scattered across 630 cities in 34 different countries.

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:

Robert Mcgrath
Director, Sr
T +1 212 9848267
email

Best Buy advices of how to save energy and money

WASHINGTON, DC, 2014-10-30— /EPR Retail News/ — Last year, Best Buy’s U.S. customers purchased more than 20 million ENERGY STAR® certified products, saving them upwards of $76 million in energy costs. That’s the carbon emission equivalent of taking 98,000 cars off the road. Seeing as October is Energy Awareness Month and chillier days aren’t far behind, here are a few tips for saving both energy and money.

  • Install a programmable thermostat in your house, which allows you to adjust the temperature when you’re not home
  • When shopping for a new TV or appliance, look for the ENERGY STAR mark to find the most energy-efficient products
  • Wash your laundry with cold water – your clothes will be just as clean
  • Replace old light bulbs with new energy-saving LEDs, which save up to $100 over the lifetime of the bulb
  • Use a “smart” power strip to avoid standby power – the energy used by some products when they are turned off but still plugged into a power/wall outlet
  • Disable “instant on” and “standby” modes when you are not using your gaming console

Products for your home that enable you to help manage your energy consumption, secure your home and do it all at the push of a button are available online at Connected Home on BestBuy.com, or your local Best Buy store.

If you’re interested in learning more about how to save energy and money, or interested in learning more about ENERGY STAR certified products, visit BestBuy.com/ENERGYSTAR.

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Best Buy advices of how to save energy and money

Best Buy advices of how to save energy and money

QVC to introduce new in-app mobile feature that allows customers to make easy and quick purchases with just a touch of their finger by using Apple’s fingerprint sensor technology

West Chester, PA, 2014-10-30— /EPR Retail News/ — QVC, the global leader in video and ecommerce retail, announced today that it will introduce a new in-app mobile feature in the coming weeks that allows customers to make easy and quick purchases with just a touch of their finger. Using Apple’s fingerprint sensor technology, Touch IDTM, the QVC for iPhone® app now gives customers the option to log in to their QVC accounts on all iOS 8-enabled iPhone 5S, 6 and 6+ mobile devices using only their fingertip to authenticate their identity.

“Mobile remains our fastest-growing platform, and we’re continuously investing in new technologies and features that deliver a seamless and engaging customer experience,” said Alex Miller, senior vice president, digital commerce at QVC. “QVC is paying close attention to how, when and where the customer is choosing to interact with us on our digital platforms in order to create a more personalized shopping experience that drives ongoing engagement and loyalty.”

With the new Touch ID feature, QVC customers can shop through the QVC iOS mobile app using their fingertip. Following a one-time set-up, their billing, shipping and payment details will be automatically populated upon iPhone sensor authentication of their fingertip, enabling mobile shopping transactions on QVC to be completed with a single touch.

Contributing to QVC’s mobile leadership, the company was an early adopter of responsive design, ensuring that it delivers a seamless customer experience across all platforms, regardless of the size of the screen on any device. The implementation of a responsive site capitalizes on consumers’ growing preference to browse and make purchases on their mobile devices. Mobile purchases accounted for 40 percent of QVC’s worldwide ecommerce orders in the second quarter of 2014.

The just-released 2015 “Internet Retailer Mobile 500” revealed QVC is the third largest mobile commerce player among multi-category retailers.

QVC Advances the Second Screen Experience
Recognizing that more and more viewers have tablets in hand as they tune in to QVC, the company recently added new functionalities to its QVC for iPad® app to establish its necessity as a companion tool during QVC on-air programming. These enhanced second screen capabilities deliver a more engaging, useful and user-friendly experience to customers by synchronizing products on air to a consolidated product view on the iPad app. The “Watch” section of the tablet app now enables QVC customers to experience:

    • Improved synchronization on the app with the item currently being shown on air;
    • The ability to watch the live broadcast in the app, even without a cable subscription;
    • Fast access and key product information about items on air;
    • The ability to browse product information while the live broadcast remains on screen;
    • Fun and interactive features to validate and inform customers’ purchase decisions, including reviews and images.

The QVC for iPhone app and QVC for iPad app are available as a free download in the App Store.

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ABOUT QVC
QVC, Inc., a wholly owned subsidiary of Liberty Interactive Corporation (NASDAQ: QVCA, QVCB), is the world’s leading video and ecommerce retailer. QVC is committed to providing its customers with thousands of the most innovative and contemporary beauty, fashion, jewelry and home products. Its programming is distributed to approximately 300 million homes worldwide through operations in the U.S., Japan, Germany, United Kingdom, Italy and a joint venture in China. Based in West Chester, Pa. and founded in 1986, QVC has evolved from a TV shopping company to a leading ecommerce and mobile commerce retailer. The company’s website, QVC.com, is ranked among the top general merchant Internet sites. QVC, Q, and the Q Ribbon Logo are registered service marks of ER Marks, Inc.

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