Daily Archives: November 2, 2015

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Michaels officially joined the Department of Defense Military Spouse Employment Partnership on Oct. 28, 2015

Retailer Commits to Recruit, Hire, Promote and Retain Military Spouses in Portable Careers

IRVING, Texas, 2015-11-02 — /EPR Retail News/ — Michaels (Nasdaq:MIK), the world’s largest arts and crafts specialty retailer, officially joined the Department of Defense Military Spouse Employment Partnership on Oct. 28, 2015, at the annual induction ceremony held at the Mark Center in Alexandria, Virginia.

The Military Spouse Employment Partnership connects military spouses with more than 295 partner employers who have committed to recruit, hire, promote and retain military spouses in portable careers.

Dr. Jill Biden launched the Military Spouse Employment Partnership on June 29, 2011, to serve spouses from all military services. The partnership is part of the Department of Defense’s broader Spouse Education and Career Opportunities program, which seeks to reduce the 25 percent unemployment rate experienced by military spouses and close the 25 percent wage gap currently experienced by military wives.

By joining the Military Spouse Employment Partnership, Michaels is becoming part of an even larger collective effort to support military spouse employment. For more information on the Military Spouse Employment Partnership, please visit https://msepjobs.militaryonesource.mil.

About The Michaels Companies, Inc.
The Michaels Companies, Inc., is North America’s largest specialty retailer of arts and crafts. As of Aug. 1, 2015, the Company owns and operates 1,186 Michaels stores in 49 states and Canada and 118 Aaron Brothers stores, and produces 11 exclusive private brands including Recollections®, Studio Decor®, Bead Landing®, Creatology®, Ashland®, Celebrate It®, ArtMinds®, Artist’s Loft®, Craft Smart®, Loops & Threads® and Imagin8®.

Media Contact: Megan Duran or Loren Rutledge
817-329-3257
Michaels@spmcommunications.com

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Cotton used in IKEA products now comes from Better Cotton Standard sources

Now IKEA only purchases cotton – which is used in IKEA products – from farmers who use less water, less chemical fertilisers and pesticides, and are also able to increase their profits

Conshohocken, PA, 2015-11-02 — /EPR Retail News/ — IKEA announces that since September 2015, all the cotton used for IKEA products comes from more sustainable sources; specifically farmers who use less water, less chemical fertilizers and pesticides, and are also able to increase their profits. This positions IKEA as the first major retailer to reach this milestone.

Cotton is an important raw material for IKEA, used in many products, from sofas to towels. However, when grown conventionally, cotton farming uses large amounts of chemicals and water, raising costs and making it harder for farmers to earn a living. Now IKEA is a leader in sustainable cotton sourcing as it purchases cotton – which is used in IKEA products – in a more sustainable way.

Cotton from more sustainable sources includes cotton grown to the Better Cotton Standard by farmers working towards Better Cotton, as well as sustainable cotton from the USA. Since September 2015, all the cotton used in IKEA products comes from these Better Cotton Standard sources.* Each year, IKEA uses around 0.7 percent of all the cotton grown around the world with its main sources from India, Pakistan, Turkey, China, Brazil and the USA. Of this total cotton procurement, approximately 5 percent or 7,400 metric tons comes from the US. This includes cotton sources from Texas, where IKEA partners with E3, and also North Carolina.

“This year is the beginning of a new era for cotton at IKEA. Reaching our goal of sourcing 100% of cotton from more sustainable sources is a great achievement, but it also marks the start of our next challenge – to maintain the 100% and to find even more ways to support cotton producers around the world to be more sustainable,” says Pramod Singh, Cotton Leader, IKEA.

This sustainable cotton milestone is part of a long journey to help transform the cotton industry. In 2010, IKEA together with the conservation organization WWF, and other leading public and private organizations, helped set up the Better Cotton Initiative (BCI).

”We are extremely proud of our partnership with IKEA. We applaud them for setting such an ambitious target and for acting as an example to other retailers and brands. IKEA’s commitment to BCI helps us fulfill our mission of establishing Better Cotton as a mainstream commodity,” says Paola Geremicca, BCI Director of Communications and Fundraising.

“Cotton from more sustainable sources across all IKEA products is a potential game-changer for the global cotton market because it demonstrates the clear business case for sustainability”, says Richard Holland, Director, WWF Market Transformation Initiative. “We need more companies to follow IKEA’s lead but this milestone shows what’s good for people and nature is also good for business.”

Together with its partners, IKEA wants to make more sustainable cotton affordable and accessible, and also to be better for the environment and the people who grow it.

*A very small volume of products produced use conventional cotton prior to this time will still be available in stores until sold out.

For further information, please contact:
Mona Astra Liss, US Corporate PR Director, Mona.Liss@IKEA.com,
610.834.0180, ext. 5852

About IKEA Group
The IKEA vision is to create a better everyday life for the many people. Our business idea supports this vision by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them. There are currently 328 IKEA Group stores in 28 countries. Additionally, there are 40 IKEA stores run by franchises. There are 41 IKEA stores in the US. In FY 15, IKEA Group had 771 million visitors to the stores and 1.9 billion visitors to IKEA.com. IKEA incorporates sustainability into day-to-day business and supports initiatives that benefit children and the environment. For more information, please visit www.IKEA.com, facebook.com/IKEAUSA, @IKEAUSANews, @IKEAUSA, http://pinterest.com/IKEAUSA/, www.youtube.com/IKEAUSA, www.theshare-space.com, www.theshare-space.com/en/Blog

About the Better Cotton Initiative
The Better Cotton Initiative (BCI) operates as a not-for-profit organization, existing to make global cotton production better for the people who produce it, better for the environment it grows in and better for the sector’s future. BCI aims to transform cotton production worldwide by developing Better Cotton as a sustainable mainstream commodity. To achieve this mission, BCI works with a diverse range of stakeholders across the cotton supply chain to promote measurable and continuing improvements for the environment, farming communities and the economies of cotton producing areas. To find out more, visit www.bettercotton.org.

About WWF
WWF is one of the world’s largest and most experienced independent conservation organisations, with over 5 million supporters and a global network active in more than 100 countries. WWF’s mission is to stop the degradation of the planet’s natural environment and to build a future in which humans live in harmony with nature, by conserving the world’s biological diversity, ensuring that the use of renewable natural resources is sustainable, and promoting the reduction of pollution and wasteful consumption.

WWF works in partnership with IKEA on cotton and forests as part of its key market transformation conservation strategy focused on driving better production across priority commodities such as timber and pulp, soy, palm oil, beef, white fish, tuna and cotton, all of which have a significant impact on some of the world’s most ecologically important regions.Find out more at www.panda.org/ikea

SOURCE: Inter IKEA Systems B.V.

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New IKEA store in Renton, WA adjacent to its current Seattle-area store to open in Spring 2017

RENTON, WA, 2015-11-02 — /EPR Retail News/ — With company representatives, Renton Mayor Denis Law, city officials, and community leaders on-hand, IKEA, the world’s leading home furnishings retailer, today officially broke ground where it is constructing a new store in Renton, WA adjacent to its current Seattle-area store. Until the new store opens in Spring 2017, customers can continue to shop at the existing IKEA store.

The 398,000-square-foot current Seattle-area IKEA store is located on 29 acres in Renton, near State Highway 167, approximately 11 miles southeast of downtown Seattle. Built in 1979, the original, single-level structure previously had been utilized as a warehouse for aerospace electronics until IKEA converted it to be a retail store in October 1994. The future 406,000-square-foot new Renton store will consist of two levels, provide nearly 1,600 convenient parking spaces, and offer a more current layout. IKEA has contracted with Deacon Corp. to build the store, and plans reflect the same unique architectural design for which IKEA stores are known worldwide.

“We are pleased to be breaking ground today on our commitment to extend our Seattle presence with a new and updated store that will provide an enhanced experience for our many loyal customers,” said Lars Petersson, IKEA U.S. president. “This new store also will help us introduce the latest version of the unique IKEA concept to Seattle-area consumers who value good design, good function and affordable prices, but have not yet had the chance to visit the current Renton store.”

An updated Seattle-area IKEA store will feature the same 10,000 exclusively designed items, 50 inspirational room-settings, three model home interiors, a supervised children’s play area, and a larger restaurant for serving Swedish specialties. Other family-friendly features include a ‘Children’s IKEA’ area in the showroom, baby-care rooms, play areas throughout the store, and preferred parking. IKEA now also offers a product picking and delivery service, and an IKEA FAMILY loyalty program. In addition to the already 350 Renton coworkers as part of the global IKEA family, IKEA will generate even more annual sales and property tax revenue to the city and local schools.

During the construction period, IKEA will be providing additional parking nearby on weekends for customers and shuttling them to the store. Customers can find detailed information about parking directions, shuttle plans and construction updates available at IKEA-USA.com/Seattle and @IKEA_Seattle.

Since its 1943 founding in Sweden, IKEA has offered home furnishings of good design and function at low prices so the majority of people can afford them. There are currently more than 370 IKEA stores in 47 countries, including 41 in the U.S. IKEA incorporates sustainability into day-to-day business and supports initiatives that benefit children and the environment. For more information see IKEA-USA.com, @IKEAUSA, @IKEAUSANews, or IKEAUSA on Facebook, YouTube, Instagram and Pinterest.

Contact: Joseph Roth, Expansion Public Affairs
(610) 834-0180, x 6500

SOURCE: Inter IKEA Systems B.V.

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IKEA to install a solar energy system atop its Las Vegas store opening Summer 2016

LAS VEGAS, NV, 2015-11-02 — /EPR Retail News/ — IKEA, the world’s leading home furnishings retailer, today announced plans to install a solar energy system atop its Las Vegas store opening Summer 2016. Panel installation will begin this winter, with completion expected in spring for what will be the largest single-use rooftop solar array by a retailer in the State of Nevada. The 351,000 square-foot future IKEA Las Vegas, and 1,300 parking spaces, currently is under construction on 26 acres along the northern side of the 215 Beltway at Durango Drive, near Sunset Road. Until Summer 2016, Las Vegas-area customers can shop at the closest IKEA stores: Covina, CA; Tempe, AZ, or Draper, UT; or online at IKEA-USA.com.

The store’s 240,504-square-foot solar array will consist of a 1.14 MW system, built with 3,620 panels, and will produce approximately 1,750,000 kWh of electricity annually for the store, the equivalent of reducing 1,207 tons of carbon dioxide (CO2) – equal to the emissions of 254 cars or providing electricity for 166 homes yearly (calculating clean energy equivalents at www.epa.gov/cleanenergy/energy-resources/calculator.html).

For the development, design and installation of IKEA Las Vegas’ customized solar power system, IKEA selected Helix Electric, an award-winning electrical contractor and industry leader specializing in design-build and complex electrical projects in the U.S. for more than 30 years. R&O Construction is managing the site work and building of the actual store that will reflect the same unique architectural design for which IKEA stores are known worldwide.

“We are excited about furthering our sustainability commitment with solar panels on the future Las Vegas store,” said Lars Petersson, IKEA U.S. president. “At IKEA, we have a mission to create a better everyday life for the many, and IKEA Las Vegas can add to this goal with Nevada’s largest rooftop solar array.”

This installation will represent the 43rd solar project for IKEA in the United States, contributing to the IKEA solar presence atop nearly 90% of its U.S. locations, with a total generation goal of 40 MW. IKEA owns and operates each of its solar PV energy systems atop its buildings – as opposed to a solar lease or PPA (power purchase agreement) – and globally has allocated $1.9 billion to invest in renewable energy through 2015, reinforcing its confidence and investment in solar photovoltaic technology. Consistent with the goal of being energy independent by 2020, IKEA has installed more than 700,000 solar panels on buildings across the world and owns approximately 300 wind turbines, including 104 in the U.S.

IKEA, drawing from its Swedish heritage and respect of nature, believes it can do good business while minimizing impacts on the environment. Globally, IKEA evaluates locations regularly for conservation opportunities, integrates innovative materials into product design, works to maintain sustainable resources, and flat-packs goods for efficient distribution. Specific U.S. sustainable efforts include: recycling waste material; incorporating environmental measures into the actual buildings with energy-efficient HVAC and lighting systems, recycled construction materials, skylights in warehouse areas, and water-conserving restrooms; and operationally, eliminating plastic bags from the check-out process, and selling only LED bulbs. IKEA has installed electric vehicle charging stations at 13 stores, with more locations planned.

Since its 1943 founding in Sweden, IKEA has offered home furnishings of good design and function at low prices so the majority of people can afford them. There are currently more than 370 IKEA stores in 47 countries, including 41 in the U.S. IKEA has been ranked among “Best Companies to Work For” and, as further investment in its coworkers, has raised its own minimum wage twice in two years. IKEA incorporates sustainability into day-to-day business and supports initiatives that benefit children and the environment. For more information see IKEA-USA.com, @IKEAUSANews, @IKEAUSA or IKEAUSA on Facebook, YouTube, Instagram and Pinterest.

Contact: Joseph Roth, Expansion Public Affairs
(610) 834-0180, ext. 6500

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IKEA Soft Toys for Education Campaign returns to provide quality education to children living in poverty

Soft Toy for Education Campaign returns to help children get a better life through education

Conshohocken, PA, 2015-11-02 — /EPR Retail News/ — The IKEA Soft Toys for Education Campaign returns. In its 13th year, this good cause partnership between the IKEA Foundation, UNICEF and Save the Children aims to provide quality education to children living in poverty in some of the world’s poorest countries. For every soft toy or children’s book sold from November 1, 2015 until December 26, 2015, the IKEA Foundation donates approximately $1.11 (€1)* to Save the Children and UNICEF.

This year, children from around the world have designed a special limited collection for the campaign; it’s a way for children to help other children get a better start in life through education. Last year, IKEA Family invited all their customers’ children to design their dream soft toy. After receiving thousands of wonderful contributions, ten winners were chosen. The winning soft toys in the competition became patterns for the new collection named SAGOSKATT. This year, the drawing competition returns, giving even more children the opportunity to design their dream soft toy for a good cause.

“These soft toys are truly fun and imaginative, but they also have a special meaning. As IKEA Foundation donates €1 per sold soft toy to UNICEF and Save the Children, this means that children are helping children to build a better future for themselves.” Bodil Fritjofsson, Product Developer, IKEA of Sweden.

Since 2003, the IKEA Soft Toys for Education program has been focusing on providing quality education to vulnerable children living in poverty in developing countries. To date, it has improved education for more than 11 million children in 46 countries and raised $102 million (€77 million).

“We can only overcome poverty if we make education a priority for all children. We especially need to invest in a quality education for girls, children with disabilities and children from minority communities. No child should be left behind.” Per Heggenes, CEO IKEA Foundation

“All children should have the opportunity to go to school,” said Lars Petersson, IKEA US President. “We continue to put our hearts into selling IKEA soft toys so that children in the most poverty stricken areas can benefit by getting a good education. We also couldn’t be more pleased to include children helping children with this year’s soft toy design competition. We hope our US customers – and all the world – will support this program so more children will have the opportunity to continue their education and help build a brighter future.”

Through the IKEA iWitness program, IKEA co-workers get to see first-hand how the campaigns they support create a better everyday life for children and their families in developing countries.

Click here for more information www.IKEA-USA.com/goodcause

Words from the partnersSupporting Education—Together

“Thanks to the longstanding partnership with the IKEA Foundation, and with the incredible support of IKEA employees and customers, UNICEF continues to provide millions of vulnerable children around the world with access to education, safe spaces to learn, and the path towards a better life and a brighter future,” said Caryl M. Stern, President and CEO of the U.S. Fund for UNICEF.

“A quality education helps children climb the ladder of opportunity and create a better and brighter future, and for 12 years, Save the Children has been proud to partner with IKEA to positively impact many children’s futures,” said Carolyn Miles, president and CEO of Save the Children. “By adding a children’s book or soft toy to their holiday gift list, IKEA shoppers can help the kids in their own life – and kids around the world – read, play and learn.”

About IKEA Group
Mona Astra Liss, US Corporate PR Director,
610.834.0180, ext. 5852
Mona.Liss@IKEA.com

Save the Children
Jeremy Soulliere
Manager, Media & Communications
203-295-5842
Jsoulliere@savechildren.org

UNICEF
Andrea Sioris
Deputy Director, Public Relations
(212) 880-9136
asioris@unicefusa.org

About IKEA Group
The IKEA vision is to create a better everyday life for the many people. Our business idea supports this vision by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them. There are currently 329 IKEA Group stores in 27 countries. There are 41 IKEA stores in the US. In FY 15, IKEA Group had 716 million visitors to the stores and 1.9 billion visitors to IKEA.com. IKEA incorporates sustainability into day-to-day business and supports initiatives that benefit children and the environment. For more information, please visit www.IKEA.com, facebook.com/IKEAUSA, @IKEAUSANews, @IKEAUSA, http://pinterest.com/IKEAUSA/, www.youtube.com/IKEAUSA, www.theshare-space.com, www.theshare-space.com/en/Blog

About IKEA Foundation
The IKEA Foundation aims to improve opportunities for children and youth in some of the world’s poorest communities by funding holistic, long-term programs that can create substantial, lasting change. The IKEA Foundation works with strong strategic partners applying innovative approaches to achieve large-scale results in four fundamental areas of a child’s life: a place to call home; a healthy start in life; a quality education; and sustainable family income. Currently-funded programs benefit an estimated 100 million children. Learn more at www.ikeafoundation.org and www.facebook/IKEAfoundation

About Save the Children
Save the Children gives children in the United States and around the world a healthy start, the opportunity to learn and protection from harm. We invest in childhood — every day, in times of crisis and for our future. Follow us on Twitter and Facebook.

About UNICEF
The United Nations Children’s Fund (UNICEF) works in more than 190 countries and territories to put children first. UNICEF has helped save more children’s lives than any other humanitarian organization, by providing health care and immunizations, clean water and sanitation, nutrition, education, emergency relief and more. The U.S. Fund for UNICEF supports UNICEF’s work through fundraising, advocacy and education in the United States. Together, we are working toward the day when no children die from preventable causes and every child has a safe and healthy childhood. For more information, visit www.unicefusa.org. Follow us on Twitter and Facebook.

SOURCE:  Inter IKEA Systems B.V.

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H&M opens online store in Russia

We are proud to announce that we successfully welcomed our Russian customers to a new and extended online experience on October 29th.

STOCKHOLM, SWEDEN, 2015-11-02 — /EPR Retail News/ — H&M’s Shop Online will offer the same collections online as in-store giving customers access to a wide range of clothing and accessories including ladies, men’s, teens and a full children’s line. There will also be exclusive “online-only” items available all year-round.

The Shop Online launch will also include H&M Home. H&M Home brings fashion and fun to interiors with a seasonal selection of products for every room in your home.

Besides great fashion collections for the entire family, H&M Home will let our customers access the trendiest decorative items for their home with a very good quality and always for the very good H&M prices. Online shopping at hm.com completes the H&M experience.

For more information:

Katya Prosvirkina, PR Manager
Email: Katya.Prosvirkina@hm.com

 

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H&M opens online store in Russia

H&M opens online store in Russia

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CVS Health Q3-2015: Net revenues up 10.3%; Operating profit up 3.8%

WOONSOCKET, R.I., 2015-11-02 — /EPR Retail News/ — Third Quarter Year-over-year Highlights:

  • Net revenues increased 10.3% to $38.6 billion
  • Operating profit increased 3.8% to $2.3 billion, including the effect of acquisition-related transaction and integration costs of $127 million
  • GAAP diluted EPS from continuing operations of $1.10
    Adjusted EPS of $1.29, excluding any acquisition-related items, at higher end of $1.27-$1.30 guidance range
  • Adjusted EPS of $1.28, an increase of 11.5%, including 1 cent of acquisition-related dilution from the net effect of the July 2015 debt financing and the inclusion of Omnicare’s operations; excluding acquisition-related transaction and integration costs

Year-to-date Highlights:

  • Generated free cash flow of approximately $3.4 billion
  • Cash flow from operations of approximately $4.8 billion

Narrowed 2015 Guidance by raising low end of range:

  • Full year Adjusted EPS of $5.14 to $5.18, including Omnicare operations and the debt financing and excluding acquisition-related bridge financing, transaction and integration costs; GAAP diluted EPS from continuing operations of $4.69 to $4.73
  • Fourth quarter Adjusted EPS guidance of $1.51 to $1.55, including Omnicare operations and the debt financing and excluding acquisition-related transaction and integration costs; GAAP diluted EPS from continuing operations of $1.41 to $1.45
  • Confirmed full year free cash flow of $5.9 to $6.2 billion; cash flow from operations of $7.6 to $7.9 billion

2016 Preliminary Outlook:

  • Full year 2016 preliminary Adjusted EPS expected to increase 10% to 14% to $5.68 to $5.88, in line with the Company’s five-year growth targets

CVS Health Corporation (NYSE: CVS) today announced operating results for the three months ended September30, 2015.

Changes in Segment Definition

As a result of the acquisition of Omnicare, Inc. (“Omnicare”), which closed August 18, 2015, the segments of CVS Health Corporation (the “Company”) have been expanded. The Company’s Pharmacy Services Segment now also includes the specialty pharmacy operations of Omnicare. The Company’s Retail Pharmacy Segment now also includes the long-term care (“LTC”) operations, as well as the commercialization services, supply chain solutions and patient support services of Omnicare, and has been renamed the “Retail/LTC Segment.” The LTC operations include providing the distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings. The Company’s Corporate Segment now also includes certain aspects of Omnicare’s corporate expenses.

Revenues

Net revenues for the three months ended September 30, 2015, increased 10.3%, or $3.6 billion, to $38.6 billion compared to the three months ended September 30, 2014. Revenues in the Pharmacy Services Segment increased 13.3%, or $3.0 billion, to $25.5 billion in the three months ended September 30, 2015. The increase was primarily driven by growth in specialty pharmacy and pharmacy network claims. Pharmacy network claims processed during the three months ended September 30, 2015, increased 9.3% to 229 million, compared to 210 million in the prior year. The increase in pharmacy network claim volume was primarily due to net new business as well as growth in Managed Medicaid. Mail choice claims processed during the three months ended September 30, 2015, increased 5.6% to 21.9 million, compared to 20.7 million in the prior year. The increase in mail choice claims was driven by specialty and continued adoption of our Maintenance Choice offerings.

Revenues in the Retail/LTC Segment increased 6.9%, or $1.2 billion, to $17.9 billion in the three months ended September 30, 2015. Approximately half of the increase was driven by the addition of LTC operations acquired as part of the Omnicare acquisition in August 2015. Same store sales for the retail drugstores increased 1.7% versus the third quarter of last year, with pharmacy same store sales up 4.6% and pharmacy same store prescription volumes up 4.4% on a 30-day equivalent basis. Pharmacy same store sales were negatively affected by approximately 450 basis points from recent generic drug introductions. Front store same store sales declined 5.8%. Front store same store sales would have been approximately 490 basis points higher if tobacco and the estimated associated basket sales were excluded from the three months ended September 30, 2014. Front store same store sales were negatively affected by softer customer traffic, partially offset by an increase in basket size.

For the three months ended September30, 2015, the generic dispensing rate increased approximately 130 basis points to 83.8% in the Pharmacy Services Segment and increased approximately 140 basis points to 84.8% in the Retail/LTC Segment.

Operating Profit and Income from Continuing Operations

For the three months ended September 30, 2015, operating profit increased by $75 million in the Pharmacy Services Segment and by $116 million in the Retail/LTC Segment. Excluding acquisition-related transaction and integration costs, the Pharmacy Services Segment grew 7.0% and the Retail/LTC Segment grew 8.4%(1). Both segments benefited from the Omnicare acquisition, increased generic drugs dispensed and favorable purchasing economics. The Pharmacy Services Segment was also positively affected by growth in specialty pharmacy and pharmacy network volume, partially offset by price compression. The Retail/LTC Segment was also positively affected by increased sales and an improved front store margin rate, partially offset by continued reimbursement pressure. The Corporate Segment includes $115 million of acquisition-related transaction and integration costs for the three months ended September 30, 2015, related to the acquisition of Omnicare and the proposed acquisition of the pharmacies and clinics of Target Corporation (“Target”).

Income from continuing operations for the three months ended September 30, 2015 was $1.2 billion, including the effect of $16 million of pre-tax acquisition-related bridge financing costs as well as the transaction and integration costs discussed above (an aggregate of $0.10 per diluted share). Income from continuing operations for the three months ended September 30, 2014 was $0.9 billion, including a $521 million pre-tax loss ($0.27 per diluted share) on the early extinguishment of debt.

GAAP diluted earnings per share (“EPS”) from continuing operations for the three months ended September 30, 2015 and 2014 was $1.10 and $0.81, respectively, which includes the acquisition-related bridge financing, transaction and integration costs in 2015 and the loss on early extinguishment of debt in 2014.

Adjusted EPS for the three months ended September 30, 2015 and 2014, was $1.18 and $0.88, respectively. Adjusted EPS in the three months ended September 30 excludes $160 million and $126 million in 2015 and 2014, respectively, of intangible asset amortization related to acquisition activity. Adjusting for any acquisition-related items and the loss on early extinguishment of debt in 2014, Adjusted EPS was $1.29, at the higher end of the Company’s $1.27 to $1.30 guidance range. The inclusion of Omnicare’s operations midway through the third quarter, which nearly offset the dilution from the July 2015 debt financing, resulted in one cent of net dilution in the quarter. Neither of these items were included in prior guidance given the uncertainty around the timing of the close of the acquisition of Omnicare. Including the one cent of net dilution, Adjusted EPS increased 11.5% to $1.28 for the three months ended September 30, 2015.

President and Chief Executive Officer Larry Merlo stated, “I’m very pleased to report third quarter results that are at the higher end of our expectations. We delivered solid revenue and operating profit growth across our businesses, and we continue to expect significant growth in the fourth quarter, rounding out another terrific year for our company. Year to date, we generated $3.4 billion of free cash, and we are on pace to return more than $6 billion to our shareholders through dividends and share repurchases in 2015.”

Mr. Merlo continued, “The third quarter included the closing of the Omnicare acquisition in mid-August, and we are very optimistic about the potential that this long-term care business creates for us. It provides a new pharmacy dispensing channel, enhancing our ability to provide continuity of care for patients as they transition through the health care system. At the same time, we look forward to closing the Target pharmacy acquisition, which will enable us to reach more patients, add a new retail channel for our unique offerings, and expand convenient options for consumers. These acquisitions reinforce our progress on our established long-term targets.”

Guidance

Given the solid performance this quarter and the closing of the acquisition of Omnicare, the Company narrowed guidance for the full year 2015 by raising the low end, and now expects to deliver Adjusted EPS of $5.14 to $5.18, up from $5.11 to $5.18 and GAAP diluted EPS of $4.69 to $4.73, up from $4.64 to $4.71. This Adjusted EPS guidance includes Omnicare’s operations and the July 2015 debt financing and excludes the affect of acquisition-related bridge financing, transaction and integration costs that have been recorded and that are expected in the fourth quarter.The Company continues to expect to deliver 2015 free cash flow of $5.9 billion to $6.2 billion, and 2015 cash flow from operations of $7.6 billion to $7.9 billion.

For the fourth quarter of 2015, the Company expects to deliver Adjusted EPS of $1.51 to $1.55, excluding any acquisition-related transaction and integration costs, and GAAP diluted EPS from continuing operations of $1.41 to $1.45.

2016 Preliminary Outlook

For the year ending 2016, the Company provided a preliminary outlook that reflects 10% to 14% growth in Adjusted EPS to a range of $5.68 to $5.88. This range is in line with the five-year growth targets the Company provided at its Analyst Day in December of 2013 for the years 2013 through 2018. At that time, the Company stated and has since re-iterated that it expects to grow its Adjusted EPS at a compounded annual rate of 10% to 14% for the five-year period. This outlook for 2016 reflects growth from 2013 through 2016 at a compounded annual rate of 13% to 14%, at the higher end of the five-year targets.

Retail Drugstore Real Estate Program

During the three months ended September 30, 2015, the Company opened 43 new retail drugstores and closed two retail drugstores. In addition, the Company relocated 11 retail drugstores. As of September 30, 2015, the Company operated 7,911 retail drugstores in 44 states, the District of Columbia, Puerto Rico and Brazil.

Teleconference and Webcast

The Company will be holding a conference call today for the investment community at 8:30 am (EDT) to discuss its quarterly results. An audio webcast of the call will be broadcast simultaneously for all interested parties through the Investor Relations section of the CVS Health website at http://investors.cvshealth.com. This webcast will be archived and available on the website for a one-year period following the conference call.

About the Company

CVS Health is a pharmacy innovation company helping people on their path to better health. Through its more than 7,900 retail drugstores, more than 1,000 walk-in medical clinics, a leading pharmacy benefits manager with more than 70 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, and expanding specialty pharmacy services, the Company enables people, businesses and communities to manage health in more affordable, effective ways. This unique integrated model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at https://www.cvshealth.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. By their nature, all forward-looking statements involve risks and uncertainties. Actual results may differ materially from those contemplated by the forward-looking statements for a number of reasons as described in our Securities and Exchange Commission filings, including those set forth in the Risk Factors section and under the section entitled “Cautionary Statement Concerning Forward-Looking Statements” in our most recently filed Annual Report on Form10-K and Quarterly Report on Form 10-Q.

(1)Excluding $12 million of acquisition-related integration costs, operating profit for the Retail/LTC Segment increased $128 million, or 8.4%, from $1,527 million for the three months ended September 30, 2014 to $1,655 million for the three months ended September 30, 2015.

Source : CVS Health Corporation

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Ahold: Etos opens a brand new store on the Gelderlandplein in Amsterdam

Zaandam, the Netherlands, 2015-11-02 — /EPR Retail News/ — On Wednesday, Etos opened a brand new store on the Gelderlandplein in Amsterdam. It is the first store to display the new Etos logo on the façade of the building, and inside the shop customers can enjoy a new beauty and perfume department. Etos’ own brand, which recently received a makeover, is prominently visible inside the shop. The drugstore chain also continues to innovate online and is developing a new loyalty program with a customer card and an app. With these activities, Etos will, as Best Drugstore in the Netherlands, make a difference in a competitive market.

Roll out of renewed retail formula
This year, Etos was elected Best Drugstore in the Netherlands for the fifth time. “We are proud of this title, said Etos General Manager Jan-Derek Groenendaal. “Customers can rely on the fact that the Etos drugstore chain will keep investing in its customers. In the first quarter of 2016, another 15 shops will be opened with the same look & feel as the Gelderlandplein store. And we will keep innovating in the years to come to offer customers more for their money, with a focus on product innovation and service.”

Source : Ahold

 

Ahold: Etos opens a brand new store on the Gelderlandplein in Amsterdam

Ahold: Etos opens a brand new store on the Gelderlandplein in Amsterdam

Ahold: Etos opens a brand new store on the Gelderlandplein in Amsterdam

 

 

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BRC: European Commission’s new Single Market Strategy aligned with many of BRC’s priorities for EU reform

LONDON, 2015-11-02 — /EPR Retail News/ —  BRC has welcomed the publication today of the European Commission’s new Single Market Strategy, saying that is a step in the right direction toward achieving positive EU reforms.

Commenting, BRC Chief Executive, Helen Dickinson, said: “It’s good to see that today’s Strategy is aligned with many of the BRC’s priorities for EU reform. The Commission’s plan builds on previous good work and makes sensible suggestions for improvement which will be welcomed by retailers across the UK.”

The Commission’s Strategy outlines the steps that need to be taken in order to further the EU’s Single Market. Crucially it recognises far more progress needs to be made in the area of services in the Single Market. For retailers this means having the same rights and freedom to operate in other European markets as domestic operators. The Commission also recognises the critical role that national and local authorities play in ensuring that the Single Market works properly in their geographies. Commission proposals for national and local authorities to be far more transparent and accountable about the decisions they take that affect the Single Market rights of businesses (including retailers) have been particularly welcomed.

Dickinson added: “It’s pleasing to note that the commission have heeded the BRC’s calls to resist launching a new initiative and are instead concentrating their fire-power on making what exists already work better for business and consumers”

Commission proposals to strengthen the existing tools such as the SOLVIT network (which ensures compliance with the Single Market rules) have also been welcomed as better functioning tools allow affected businesses to pursue complaints about unfair discrimination in other Member States. Another important development proposed in the communication is the bringing together into one central location of all the information businesses need to know in order to trade in different member states. This will be of particular help to small and medium-sized businesses.

Dickinson concluded: “So long as the proposals make the leap from the page into concrete action they will make a material and positive difference our industry, allowing British retailers to offer even better service to their customers wherever in the EU they may be.”

ENDS

Notes to editors:
1. Please find the European Commission’s fact sheet on the new Single Market Strategy here

Media Contacts: BRC Press Office 020 7854 8924

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British Retail Consortium: food waste in supermarkets during 2014 was 180,000 tonnes, down from 200,000 tonnes in 2013

  • Combined industry food waste is down by 20,000 tonnes
  • Figures published in line with transparency commitment
  • Retailers working with supply chain partners to achieve sustained reduction in food waste

LONDON, 2015-11-02  — /EPR Retail News/  —  A group of leading UK retailers have for the second time published a combined food waste figure, in line with a commitment to increase transparency and report on progress annually in this area. A British Retail Consortium (BRC) report, which details the practical steps supermarkets are taking to reduce waste, reveals the total amount of waste which occurred in supermarkets 2014 was 180,000 tonnes, down from 200,000 tonnes in 2013. This figure was calculated using data from seven major supermarkets* and was independently collated by the Waste and Resources Action Programme (WRAP).

While this decrease in food waste is positive, when looking at the supply chain as a whole, retailers still account for just a little over one per cent of the estimated 15 million tonnes of food which is wasted in the UK each year. A considerably higher proportion of this waste occurs at other stages along the supply chain including at the farm and manufacturing stages as well as within the home.

UK retailers can and do use their position at the heart of the supply chain to influence the amount of food wasted both in the supply chain and at home. BRC members have an ongoing commitment in this area and individual retailers are working on a range of projects and initiatives focused on their own operations, on suppliers and on households to prevent food waste from occurring in the first place. These are outlined in greater detail in today’s BRC Report.

Retailers are also working very closely with redistribution organisations across the UK to ensure that where they do have useable surplus food, as much as possible goes to the people who need it most. Where food waste does arise, retailers continue to find the most appropriate way of utilising it effectively, with many retailers now sending zero food waste to landfill.

BRC Director of Food & Sustainability, Andrew Opie, said:

“While we welcome the fact that retail food waste levels are falling, it is nevertheless important to continue to focus attention and efforts on where the biggest reductions in food waste can be made and that is in the supply chain and at home. As an industry, we have a huge contribution to make and we will continue our work with suppliers and customers to build on the progress we have already achieved.”

* The participating retailers are Asda, Co-operative Food, Marks and Spencer, Morrisons, Sainsbury’s, Tesco and Waitrose. In 2013 those retailers agreed a set of common rules and working with WRAP (Waste and Resources Action Programme) calculated a UK food retail sector waste figure of around 200,000 tonnes (accounting for 86 per cent of the UK market)

ENDS

Notes for Editors:

1. Retail is the first and only UK industry to take the progressive approach of publishing a combined food waste figure in line with a commitment to increase transparency and has committed to report on progress on an annual basis

2. The participating retailers have agreed to voluntary targets on food and packaging waste through the Courtauld Commitments, coordinated by the Waste and Resources Action Programme (WRAP) and supported by the four UK governments

3. This figure is non-comparable with figures for food waste from individual retailers. There are a number of significant differences in methodology, scope, timescale and coverage that mean these figures should not be compared directly

4. The figure is based on data reported by retailers to WRAP to measure progress against the Courtauld Commitment 3 manufacture and retail target. This data is audited and relates to 2014

5. Today WRAP is reporting progress made by grocery manufacturers and retailers in 2014 – the second year of the Courtauld Commitment 3. Retail food waste is included in the manufacture and retail target but is published as a combined figure which includes manufacturing and packaging waste

6. It is estimated by WRAP that around 15 million tonnes of food and drink is wasted in the UK each year

7. The supermarket food waste figure forms part of the BRC’s ambitious annual progress report on its A Better Retailing Climate initiative which reports on the retail industry’s progress on sustainability and environmental issues

8. The figure relates to food waste only and does not include primary packaging associated with food waste

9. Food waste arises at retail level for a variety of reasons such as expiry of use by date, product recall, breakages, damages and products taken out of the chill chain

10. The attached infographic to the right shows the amount of food wasted in the food value chain

11. Please also find attached to the right the food waste report

12. Given the large volumes of food waste in the UK grocery supply chain and the lack of detailed data on agricultural food waste, food waste on farm is becoming a focus of attention. We are working with our members on this issue and we are planning to hold a round table event in early 2016.

For media enquiries please contact Laura Blumenthal 020 7854 8924 laura.blumenthal@brc.org.uk

Source : British Retail Consortium