Toys“R”Us, Inc. provides an update on its strategy to improve the company’s operational performance

Leadership Team Outlines Next Phase of Company’s Strategic Plan, Focusing on Further Transforming the Customer Experience, Optimizing e-Commerce, Growing Internationally and Leveraging Its Global Scale to Drive Category Leadership and Differentiation; Company Plans to Take an Aggressive Approach to Right-Sizing the Cost Structure of the Business and Designing a More Streamlined, Efficient Organization

WAYNE, NJ, 2015-3-26 — /EPR Retail News/ — At presentations today for investors, industry analysts and the media, Toys“R”Us, Inc. provided an update on its strategy to improve the company’s operational performance, as it continues its work to position the business for long-term profitable growth. Antonio Urcelay, Chairman of the Board and Chief Executive Officer, Toys“R”Us, Inc.; Hank Mullany, President, Toys“R”Us, U.S.; and Mike Short, Executive Vice President and Chief Financial Officer, Toys“R”Us, Inc., delivered a comprehensive review of the company’s fiscal 2014 performance and discussed the next phase of its “TRU Transformation” strategy.

“A year ago, we introduced a new strategic plan, with initial efforts concentrated on strengthening the foundation of the company so revenue and profits can grow in the future,” Mr. Urcelay said. “During 2014, we made steady progress in implementing this plan, successfully delivering on our commitment to slow sales decline, stabilize cash flow and improve EBITDA. We also made significant process and organizational improvements, addressing a number of important executional issues. As a result, during the year, global Internet sales continued to grow, benefitting from our strengthened omnichannel fulfillment model, U.S. margin improved due to disciplined promotional activity and inventory management, and customer satisfaction metrics confirmed that changes we have been making provided a better shopping experience in-store and online. During the year, we also grew our international presence, strengthened our leadership team and formalized a global approach to doing business. Still, we know there is far more work to be done.”

Mr. Urcelay continued, “Our strategy remains the same, but will evolve in 2015 as we continue to strengthen the foundation of the company in order to achieve sustainable growth in the future. We anticipate this will be another year of significant change and we will take aggressive steps in the months ahead to further right-size the cost structure of the business. This includes designing a more streamlined organization that will allow us to create greater operational efficiencies across our global organization.”

During 2015, the objective of the company’s “TRU Transformation” strategy will be to continue to slow the company’s sales decline, strengthen margin and improve EBITDA to effectively position the business to become fit for growth. Company-wide efforts will focus on four key priorities:

  • Continue to transform the customer experience in-store and online. Initiatives underway to improve the shopping experience for customers will expand over the course of the year. Additional stores have been identified for investments in interior and exterior physical improvements, and the elevated maintenance and lighting standards introduced last year will continue in all stores. The company is also placing a renewed focus on its Babies“R”Us business, in order to strengthen its specialist position in differentiated service, products and offerings. In advancing its goal to become a more customer-centric business, consumer insights will help guide the company in making service and selling improvements, and a deeper integration with its loyalty program will be concentrated on driving more special occasion visits year-round.
  • Optimize the e-commerce business. Now, with an over $1.2 billion global e-commerce business, the company’s focus is to continue to grow profitably online. An end-to-end assessment of the online business is underway to identify key areas for functionality and process improvements. In the coming year, the company plans to further strengthen its omnichannel capabilities, including in-store pickup and ship from store execution, especially during the peak holiday season. Mobile growth has rapidly become the most important driver of its e-commerce traffic, with 57% of Toys“R”Us, U.S. digital visits coming from a mobile or tablet device. The company plans to work quickly to advance its mobile capabilities to better serve the needs of its customers.
  • Grow internationally and leverage global scale to drive category leadership and differentiation.Toys“R”Us has a strong international presence across 36 countries outside of the U.S. Over the coming year, the company expects to continue to grow internationally, particularly in China and Southeast Asia. It will also fully leverage its scale and worldwide presence to deliver a coordinated and strategic approach to key merchandising decisions.
  • Right-size the cost structure and design a more efficient, streamlined organization. As part of its Fit for Growth initiative, the company continues to seek substantial cost and working capital savings opportunities through process and operating model improvements. Last year, the company identified potential cost savings of $150-200 million primarily in U.S. SG&A and cost of goods. Over $100 million of this was achieved in fiscal 2014 and the additional $50-100 million is expected to be fully realized by fiscal 2016. In addition, the company recently identified $50-75 million of potential savings in its international operations, which it expects to achieve by the end of fiscal 2016.
  • Associated with these saving opportunities, the leadership team shared that organizational changes and cost-cutting measures are currently underway across its global business. As the company continues to develop high-performing, highly engaged, diverse talent, a more streamlined structure will be fully aligned with strategic priorities and clearly articulated performance expectations.

    • Consistent with how many retailers operate, the company recently made the decision to outsource certain elements of its Operations Accounting and Fixed Assets functions in the U.S. and Canada to a third-party provider, allowing the company to realize cost savings and process improvements.
    • In order to drive stronger harmonization and create greater efficiencies across its business in Europe, Toys“R”Us is moving from a decentralized country-by-country leadership structure to a more centralized pan-European approach. In doing so, a new European Management Board will provide leadership and assume overall responsibility for the company’s business operations across the continent. New management boards in each country will handle all local issues and will represent the interests of customers, employees and other stakeholders in their respective markets. The members of the Country Board, which include operations, finance, buying and marketing roles, will report directly into the functional leadership members of the European Management Board.
    • Like all retailers, the company regularly analyzes the performance of its physical locations to ensure they are meeting the needs of the business. Since the beginning of 2015, it has closed approximately a dozen stores in the U.S., primarily due to lease expirations, and has no plans at this time to close a significant number of stores during the balance of the year. The company continues to open stores in opportunistic markets, including China and Southeast Asia, where rapid growth continues.
    • No near-term debt. The company recently completed the successful refinancing of $1.4 billion of its near-term debt maturities and now, has no significant outstanding debt repayments due until 2017.

To learn more about the “TRU Transformation” strategic update, please visit the company’s corporate website,, where it has posted presentation materials.

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 872 Toys“R”Us and Babies“R”Us stores in the United States, Puerto Rico and Guam, and in more than 725 international stores and over 235 licensed stores in 36 countries and jurisdictions. In addition, it exclusively operates the legendary FAO Schwarz brand and sells extraordinary toys in the brand’s flagship store on Fifth Avenue in New York City. With its strong portfolio of e-commerce sites including,, and, 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 Follow Toys“R”Us, Babies“R”Us and FAO Schwarz on Facebook at, and and on Twitter at and

Forward-Looking Statements

All statements that are not historical facts in this press release, including statements about our beliefs or expectations, are forward-looking statements. These statements are subject to risks, uncertainties and other factors, including, among others, the seasonality of our business, competition in the retail industry, changes in our product distribution mix and distribution channels, general economic factors in the United States and other countries in which we conduct our business, consumer spending patterns, birth rates, our ability to implement our strategy including implementing initiatives for season, our ability to recognize cost savings, marketing strategies, the availability of adequate financing, access to trade credit, changes in consumer preferences, changes in employment legislation, our dependence on key vendors for our merchandise, political and other developments associated with our international operations, costs of goods that we sell, labor costs, transportation costs, domestic and international events affecting the delivery of toys and other products to our stores, product safety issues including product recalls, the existence of adverse litigation, changes in laws that impact our business, our substantial level of indebtedness and related debt‐service obligations, restrictions imposed by covenants in our debt agreements and other risks, uncertainties and factors set forth under Item1A entitled “RISK FACTORS” of Toys“R”Us, Inc.’s Annual Report on Form 10‐K for the fiscal year ended February 1, 2014 and its other reports and documents filed with the Securities and Exchange Commission. In addition, we typically earn a disproportionate part of our annual operating earnings in the fourth quarter as a result of seasonal buying patterns and these buying patterns are difficult to forecast with certainty. These factors should not be construed as exhaustive, and should be read in conjunction with the other cautionary statements that are included in those reports and documents. We believe that all forward-looking statements are based on reasonable assumptions when made; however, we caution that it is impossible to predict actual results or outcomes or the effects of risks, uncertainties or other factors on anticipated results or outcomes and that, accordingly, one should not place undue reliance on these statements. Forward‐looking statements speak only as of the date they were made, and we undertake no obligation to update these statements in light of subsequent events or developments unless required by the Securities and Exchange Commission’s rules and regulations. Actual results and outcomes may differ materially from anticipated results or outcomes discussed in any forward‐looking statement.

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For more information, please contact:

Kathleen Waugh, Vice President, Corporate Communications at 973-617-5888, 646-366-8823 or

Linda Connors, Manager, Corporate Communications at 973-617-4398 or

Wegmans Food Market to contribute $250,000 in scholarship opportunities over the next five years at Johnson & Wales University

PROVIDENCE, RI, 2015-3-26 — /EPR Retail News/ — Wegmans Food Market, a family-owned, 85-store supermarket chain, recently pledged to contribute $250,000 in scholarship opportunities over the next five years at Johnson & Wales University (JWU). Full-time students enrolled in the JWU College of Culinary Arts at the Providence, R.I. campus will be eligible for a Wegmans Scholarship which will be administered by the university.

“Over the years, the university has developed strong relationships with industry partners that have been mutually beneficial,” said JWU Chancellor John Bowen. “The Wegmans brand is well known and respected by both its peers and customers. We are grateful for their generous gift which will support our students pursuing a career in the food service industry, some of whom very well may choose to work at Wegmans.”

“Wegmans’ mission is to help our customers make great meals easy so they can live healthier, better lives,” said Jim Schaeffer, Wegmans’ vice president of culinary operations.  “To deliver on that promise, we must attract and develop the best culinary talent.  Our hope for this scholarship is that it encourages the pursuit of culinary education from a top-notch school.”


Founded in 1914, Johnson & Wales University is a private, nonprofit, accredited institution with more than 16,000 graduate, undergraduate and online students at its four campuses in Providence, R.I.; North Miami, Fla.; Denver, Colo.; and Charlotte, N.C. An innovative educational leader, the university offers degree programs in arts and sciences, business, culinary arts, education, nutrition, hospitality, physician assistant studies, engineering and design. Its unique model integrates arts and sciences and industry-focused education with work experience and leadership opportunities, inspiring students to achieve professional success and lifelong personal growth. The university’s impact is global, with alumni from 119 countries pursuing careers worldwide. For more information, visit

Wegmans Food Markets, Inc. is an 85-store supermarket chain with stores in New York, Pennsylvania, New Jersey, Virginia, Maryland, and Massachusetts. The family-owned company, founded in 1916, is recognized as an industry leader and innovator. Wegmans has been named one of the ‘100 Best Companies to Work For’ by FORTUNE magazine for 18 consecutive years, ranking #7 in 2015. The company also ranked #1 for Corporate Reputation, among the 100 ‘most-visible companies’ nationwide in the 2014 Harris Poll Reputation Quotient® study.

Contact Information:  
Johnson & Wales University:
Lisa Pelosi (401) 598-1848
Wegmans: Jo Natale (585) 429-3627

Dunkin’ Brands Group, Inc. announced the promotion of Jack Clare to the newly created position of Chief Information and Strategy Officer

CANTON, MA, 2015-3-26 — /EPR Retail News/ — Dunkin’ Brands Group, Inc. (Nasdaq: DNKN), the parent company of Dunkin’ Donuts and Baskin-Robbins, today announced that Jack Clare, 44, has been promoted to the newly created position of Chief Information and Strategy Officer.

Mr. Clare, who has served as the Company’s CIO for the past three years, will be a member of the Dunkin’ Brands Leadership Team and will continue to report to Paul Carbone, Chief Financial Officer, Dunkin’ Brands Group, Inc.  Mr. Clare will continue to oversee Dunkin’ Brands’ global information technology resources, and additionally, will now focus on developing the strategies that will drive the Company’s future success.

“Jack is the ideal person to fill this new position and will continue to help us retain our leadership position as a technology leader in our category. Since joining Dunkin’ Brands, he has implemented numerous leading-edge technologies designed to improve the guest experience and increase franchisee profitability, including his work on the DD Perks loyalty program, the implementation of Baskin-Robbins online cake ordering, and our ongoing tests of new methods of mobile payment and advance ordering,” said Paul Carbone, Dunkin’ Brands Chief Financial Officer. “Jack also has considerable experience working for international companies and developing strategic solutions to meet the needs of a franchisee-focused business model. I look forward to working with him in this new leadership role to develop and implement the programs, initiatives and technologies that will drive Dunkin’ Brands’ future success.”

Prior to joining Dunkin’ Brands, Mr. Clare was the Vice President, IT and Chief Information Officer for the International Division of Yum! Brands, where he was responsible for developing and implementing the IT strategy for more than 14,000 restaurants in over 120 countries.  Earlier in his career, he was Vice President, Technical Services at Constellation Brands, and held various senior IT management roles with Sapient Corporation, a marketing and consulting company that provides business, marketing, and technology services to clients.

Mr. Clare also served as a System and Flight Test Engineer with the United States Air Force. He has a Bachelor of Science in Aeronautical Engineering from the U.S. Air Force Academy in Colorado Springs, a Master of Science in Aerospace Engineering from the University of Dayton, and an MBA from the University of California, Davis.


About Dunkin’ Brands Group, Inc.
With more than 18,800 points of distribution in nearly 60 countries worldwide, Dunkin’ Brands Group, Inc. (Nasdaq: DNKN) is one of the world’s leading franchisors of quick service restaurants (QSR) serving hot and cold coffee and baked goods, as well as hard-serve ice cream. At the end of fiscal 2014, Dunkin’ Brands’ nearly 100 percent franchised business model included more than 11,300 Dunkin’ Donuts restaurants and more than 7,500 Baskin-Robbins restaurants. Dunkin’ Brands Group, Inc. is headquartered in Canton, Mass.


Name: Michelle King
Phone: 781-737-5200


Dunkin' Brands Group, Inc. announced the promotion of Jack Clare to the newly created position of Chief Information and Strategy Officer

Dunkin’ Brands Group, Inc. announced the promotion of Jack Clare to the newly created position of Chief Information and Strategy Officer

Ahold repurchased 394,244 Ahold common shares in the period from March 16, 2015 up to and including March 20, 2015

Zaandam, the Netherlands, 2015-3-26 — /EPR Retail News/ —Ahold has repurchased 394,244 Ahold common shares in the period from March 16, 2015 up to and including March 20, 2015.

The shares were repurchased at an average price of €18.2141 per share for a total consideration of €7.18 million. These repurchases were made as part of the €500 million share buyback program announced on February 26, 2015.

The total number of shares repurchased under this program to date is 1,147,944 common shares for a total consideration of €20.77 million.

During the share buyback program, Ahold publishes a press release every Monday with a weekly update. Click here to view all the relevant information of these these weekly updates. Separate weekly press releases are available upon request. Please send an email to if you would like to receive one or more of these weekly releases.


Morrisons announces changes to reshape its Management Board

Morrisons today (24th March 2015) announces a number of changes to reshape its Management Board.

Bradford, England, 2015-3-26 — /EPR Retail News/ — Group Customer Marketing & Digital Director Nick Collard, Group Retail Director Martyn Fletcher, Group Property and Strategy Director Gordon Mowat, Group Logistics Director Neal Austin and Convenience Managing Director Nigel Robertson will step down from the Management Board and leave the company.

David Potts, Morrisons Chief Executive, said: “I will now be constructing a leaner Management Board, with the aim of simplifying and speeding up the business. I would like to thank Nick, Martyn, Neil, Nigel and Gordon for their service to Morrisons.”

Ross Eggleton and Miles Foster will continue to lead Logistics and our M local chain respectively. Andy Atkinson and Clare Grainger have been appointed to Interim Marketing and Retail Director respectively.

Media contact
For all media enquiries call
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Auchan expresses its total disagreement with Hungarian Competition Office’s EUR 3.5 million fine

The Hungarian Competition Office (GVH) fined Auchan Hungary nearly €3.5 million for abuse of its market position. An accusation that strongly denies the firm.

Budapest, Hungary, 2015-3-26 — /EPR Retail News/ — Auchan Hungary was informed on March, 23 of the Hungarian Competition Office (GVH) to be fined HUF1.061 billion (i.e. nearly €3.5 million).

“Auchan expresses its total disagreement with the arguments used by this Office and the fixed fine, whose extremely high amount is without precedent. Since its creation, 17 years ago, Auchan Hungary has always respected the national laws, including the Hungarian trade law. As the company didn’t break the law, Auchan Hungary will use all available legal means to prove the truth and trusts all competent judicial authorities”, said Dominique Ducoux, General Director of Auchan Hungary.


Best Buy teams up with youth science and technology education nonprofit FIRST to help low-income teens around US compete in robotics competitions

Richfield, MN, 2015-3-26 — /EPR Retail News/ — Best Buy was among the contributors named by the White House yesterday committing to a $240 million effort to prepare students to excel in the fields of science and technology.

Best Buy is teaming up with FIRST, a youth science and technology education nonprofit, to  help low-income teens around the United States compete in robotics competitions. The Best Buy Foundation is providing financial support to some 20 VISTA members who will teach robotics to teens at up to 10 locations, including Best Buy Teen Tech Centers.

FIRST, through its AmeriCorps VISTA program, is one of 10 national partners supported by $1.7 million in grants from the Best Buy Foundation this year to help underserved teens build 21st century skills and bridge the digital divide. FIRST, which stands for For Inspiration of Science and Technology, reaches hundreds of thousands of students annually through programs including robotics competitions, LEGO League and scholarships.

The partnership was announced Monday by President Obama during the White House Science Fair.  It’s part of his Educate to Innovate campaign to get more girls and boys, especially those from traditionally underrepresented groups, inspired and prepared to excel in the critical fields of science, technology, engineering and math (STEM).

Best Buy is on a similar mission, using our local community presence, technology resources and talented employees to provide engaging youth learning programs. For example, initiatives like our Best Buy Teen Tech Centers provide free, after-school spaces for teens to learn technology skills in a hands-on environment by exploring filmmaking, digital music, coding, robotics and other topics. These centers are located in Chicago, Denver, Miami, Minneapolis, New York City, San Antonio, Seattle and Washington, D.C.

Since 1995, Best Buy and its Foundation have invested more than $300 million in communities nationwide, supporting programs that leverage technology to inspire and engage teens and prepare them for college and future careers.


Best Buy teams up with youth science and technology education nonprofit FIRST to help low-income teens around US compete in robotics competitions

Best Buy teams up with youth science and technology education nonprofit FIRST to help low-income teens around US compete in robotics competitions

The Co-operative Food and their Hereford beef supplier, Dunbia honoured with Supply Chain Excellence Award at the biannual Northern Ireland Food and Drinks Awards (NIFDA) 2015

MANCHESTER, UK, 2015-3-26 — /EPR Retail News/ — The Co-operative Food and their premium Hereford beef supplier, Dunbia have picked up the Supply Chain Excellence Award at the prestigious, biannual Northern Ireland Food and Drinks Awards (NIFDA) 2015.

Dunbia supplies all of The Co-operative Food’s own-brand premium “Truly Irresistible” fresh beef, which is all British, as part of The Co-operative Food’s farming groups.

The Co-operative Food is committed to supporting the UK farming industry and set up farming groups in a move to further cement relationships with producers, deliver a continued investment in quality, and provide shoppers with a more consistent and transparent supply chain.

Ciara Gorst, The Co-operative Food Senior Agricultural Manager, said:

“Together with Dunbia, we work tirelessly to develop a sustainable future for the Hereford beef supply and I’m thrilled that our efforts have been recognised with this award.

“We set up our farming groups to demonstrate our commitment to supporting UK farmers, reduce supply chains and increase transparency.  Winning the Supply Chain Excellence Award is absolute testimony to how our farming groups are benefiting our suppliers, customers and the wider UK farming industry.”

Jonathan Birnie, Dunbia Head of Agriculture & Research said:

“I am delighted that Dunbia and The Co-operative Food have won the NIFDA Agri-Food Supply Chain Excellence Award which is recognition of the partnership approach which Dunbia and The Co-operative Food enjoys and of our joint mission to develop strong, long-term relationships with our Hereford beef farmers, in a bid to secure a sustainable future for the supply.  This award should also go to the Hereford calf rearers, storemen and finishers who have committed to the Hereford Scheme.”

The awards, which were held at the Ramada Plaza Hotel in Belfast, offer a platform to showcase and reward those involved in Northern Ireland’s world-class food and drink sector.

Notes to Editors:

For more information about The Co-operative Food visit

The Co-operative Group, which is the UK’s largest co-operative business with interests across food, funerals, insurance and legal services, has a clear purpose of “championing a better way of doing business for you and your communities”. Owned by millions of UK consumers, The Co-operative Group operates a total of 3,750 outlets, with more than 70,000 employees and an annual turnover of approximately £11 billion.



The Dairy Farm Company acquired the Macau-based supermarket operator, San Miu Supermarket Limited

HONG KONG, 2015-3-26 — /EPR Retail News/ — Dairy Farm International Holdings Limited today announced that its wholly-owned subsidiary, The Dairy Farm Company, Limited, had acquired the Macau-based supermarket operator, San Miu Supermarket Limited.

San Miu operates 15 mass-market supermarkets with an average gross store size of approximately 9,500 sq. ft. The acquisition of San Miu reinforces Dairy Farm’s retail presence in Macau, and complements its well-established convenience store and health and beauty businesses in the territory.

Dairy Farm is a leading pan-Asian retailer. The Group, together with its associates and joint ventures, operates over 6,100 outlets – including supermarkets, hypermarkets, convenience stores, health and beauty stores, home furnishings stores and restaurants – employing over 100,000 people, and had total annual sales in 2014 exceeding US$13 billion. Dairy Farm International Holdings Limited is incorporated in Bermuda and has a standard listing on the London Stock Exchange as its primary listing, with secondary listings in Bermuda and Singapore. It is a member of the Jardine Matheson Group.

– end –

For further information, please contact:

Dairy Farm Management Services Limited
Lancy Ng (852) 2299 3011

Brunswick Group Limited
Siobhan Xiaohui Zheng (852) 3512 5044

This and other Group announcements can be accessed through the Internet at ‘’

Donation: Harris Teeter presented eight Charlotte, NC schools each with a $5,000 check, for a total of $40,000

Part of Company’s $100K Donation toward Youth Wellness Programming

Matthews, NC, 2015-3-26 — /EPR Retail News/ — Monday, March 23, 2015, Store Director Bob Ramsey presented eight local schools each with a $5,000 check, for a total of $40,000, to support Harris Teeter’s commitment to both youth wellness and education.  All eight organizations are within the Charlotte-Mecklenburg school district and include elementary, middle and high schools.

Schools which received $5,000 during this check presentation:

School Location 
Ardrey Kell High School Charlotte, NC
Ballantyne Elementary School Charlotte, NC
Charlotte Latin School Charlotte, NC
Community House Middle School Charlotte, NC
Elon Park Elementary School Charlotte, NC
Endhaven Elementary School Charlotte, NC
Mckee Road Elementary School Charlotte, NC
Southwest Middle School Charlotte, NC

This $40,000 donation is part of a $100,000 donation Harris Teeter has committed to 20 local schools in an effort to encourage active lifestyles among students. Through this partnership, the company worked with each school’s administration teams to design unique plans to fund programs which promote physical activity. Programs included playground improvements, new weightlifting and gym equipment and athletic field enhancements.

“Harris Teeter is excited to further its commitment to youth wellness as well as education,” said Danna Jones communication manager for Harris Teeter. “Active lifestyles and education are fundamental for the development of our youth, and Harris Teeter is happy to play a role in encouraging both.”

In addition to this $5,000 donation, seven of the eight schools received their Together in Education (TIE) second payout. TIE is a fundraising initiative through which schools can earn unlimited funds based on purchases made by shoppers whose VIC card that is linked to their specific TIE code. In order to receive a check, schools must have accrued at least $250 by the end of the second payout period which ran from Dec. 1, 2014 and Feb. 28, 2015.

Harris Teeter will celebrate the remaining 12 schools that have been granted a $5,000 donation with separate check presentations scheduled to take place throughout the month of March.


Donation: Harris Teeter presented eight Charlotte, NC schools each with a $5,000 check, for a total of $40,000

Donation: Harris Teeter presented eight Charlotte, NC schools each with a $5,000 check, for a total of $40,000

Kingfisher issues statement regarding Kingfisher’s potential acquisition of Mr Bricolage

LONDON, 2015-3-26 — /EPR Retail News/ — Kingfisher notes the suspension of the shares of Mr Bricolage on the French stock exchange. Kingfisher has been working with the Board and major shareholders of Mr Bricolage in relation to the outstanding condition surrounding Kingfisher’s potential acquisition of Mr Bricolage.  Kingfisher has been made aware that both the majority of the Board of Mr Bricolage and the ANPF, a major shareholder of Mr Bricolage, have reservations in relation to the transaction but has yet to receive clarification of their positions. The Tabur family, another major shareholder and signatory to the agreement, has confirmed that they remain committed to the transaction.

The implications for the transaction are currently uncertain. Kingfisher will update investors in due course.


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