CVS Health Foundation announces $1.5 million new grants to 46 community health centers and free clinics for 2016

WOONSOCKET, R.I., 2016-Apr-02 — /EPR Retail News/ — As part of a multi-year, $5 million commitment to increase access to health care in communities nationwide, the CVS Health Foundation today released new data from programs supported through partnerships with the National Association of Free & Charitable Clinics (NAFC) and the National Association of Community Health Centers (NACHC). The Foundation also announced $1.5 million in new grants distributed to 46 community health centers and free clinics for 2016.

“As a pharmacy innovation company, we are committed to helping people on their path to better health by increasing access to care and supporting innovative approaches to chronic disease management through our Health in Action grants,” said Eileen Howard Boone, president of the CVS Health Foundation. “Our partnerships with NAFC and NACHC are focused on addressing the critical need for more accessible, coordinated health care in communities across the country and we’re proud to support programs that are improving outcomes and lowering overall health care costs.”

In April 2015, the CVS Health Foundation announced a total of 55 grant recipients that have since made meaningful progress toward their goals of improving care coordination, managing chronic conditions and increasing access to care. Critical results from the Foundation funding include:

  • The Free Clinic of Central Virginia (Lynchburg, VA) reduced their average patient waiting time between receiving a referral and comprehensive services from 30 days to 10 days. The Clinic was also able to reduce the number of hospitalizations for COPD by 51 percent, surpassing their original goal of 33 percent.
  • St. Mary’s Health Wagon (Wise, VA) saw a blood pressure reduction in 66 percent of their patients with hypertension or diabetes mellitus, which surpassed their initial goal of 50 percent.
  • Community Care Clinic of Rowan County (Salisbury, NC) saw 86 percent of participants in their smoking cessation program completely quit smoking which far surpasses the original goal of 15 percent.
  • Fifty one percent of the participants in the Corpus Christi (TX) Metro Ministries’smoking cessation program have reduced tobacco use.
  • As a result of the Cornerstone Assistance Network’s (Fort Worth, TX) program that raises awareness about how to prevent Diabetic Peripheral Neuropathy through diabetes management, 32 percent of program patients showed a 10 percent or more decrease of hemoglobin A1C, a measure of blood glucose levels, surpassing their 20 percent goal.

New 2016 Grants
As a continuation of these critical community health partnerships, the CVS Health Foundation today announced a total of $1.5 million in new grants in support of chronic disease management and prevention, such as diabetes, heart disease, hypertension and asthma, improved care coordination and increased access to care to the following NACHC and NAFC recipient organizations across the country.

Arizona$35,000

Phoenix Allies for Community Health (Phoenix, AZ), in support of its quality care coordination project.

California$310,000

Eisner Pediatric & Family Medical Center (Los Angeles, CA), in support of a diabetes care management initiative that will improve outcomes for patients.

La Clinica de La Raza, Inc. (Oakland, CA), in support of a health coaching initiative for chronic disease management.

LifeLong Medical Care (Berkeley, CA), in support of implementing an organization-wide approach to panel management for adult patients with heart failure.

Salud Para la Gente (Watsonville, CA), in support of health education and case management for diabetes patients.

St. John’s Well Child and Family Center (Los Angeles, CA), in support of integrating a home visitation and case management model into the primary care setting for pediatric asthma patients.

SLO Noor Foundation (San Luis Obispo, CA), in support of expanding clinic services to one extra day per week.

San Francisco Free Clinic (San Francisco, CA), in support of added medical personnel to staff a full service evening clinic.

Connecticut$50,000

Cornell Scott-Hill Health Corporation (New Haven, CT), in support of a staff education program and additional medical equipment.

Florida$70,000

Grace Medical Home (Orlando, FL), in support of hiring a part-time nurse practitioner who will help manage its care coordination referral program.

Miami Rescue Mission Clinic, Inc. (Miami, FL), in support of a new program that will treat patients through a personalized care approach.

Georgia$35,000

Good News Clinics (Gainesville, GA), in support of enhanced access to services for patients who previously did not have the resources to receive the care necessary.

Illinois $60,000

Tri City Health Partnership (St. Charles, IL), in support of a coordinated chronic care initiative that will include medical treatment, medications and supplies, comprehensive health education, monitoring and documented health outcomes.

Community Health Care Clinic (Normal, IL), in support of the Mobile Health Project that will be accessible to medically under-served people.

Indiana$20,000

Franciscan Alliance Foundation (Hammond, IN), in support of a diabetes prevention program that will select pre-diabetes patients to work with a trained lifestyle coach.

Louisiana$35,000

Martin Luther King Health Center & Pharmacy (Shreveport, LA), in support of a program that will decrease diabetes and cardiovascular disease in vulnerable populations.

Massachusetts $50,000

Charles River Community Health (Allston, MA), in support of an expanded complex care management program to support high-risk patients managing hypertension.

Michigan$85,000

Health Intervention Services (Grand Rapids, MI), in support of the creation of a new system that measures outcomes for the services it provides.

Thunder Bay Community Health Service, Inc. (Hillman, MI), in support of an asthma care management program.

Minnesota$35,000

CARE Clinic (Red Wing, MN), in support of the uninsured and low-income residents inGoodhue County that lack sufficient resources to manage their chronic illness.

Mississippi$35,000

Fellowship Health Clinic (Hattiesburg, MS), in support of expanded services to include medical care to more residents whose health is most greatly impacted by lack of health access, education, and care.

Missouri $35,000

Kansas City CARE Clinic (Kansas City, MO), in support of its intensive dietary management program that will target patients with chronic conditions such as diabetes, hypertension, and obesity.

New Jersey$30,000

Bergen Volunteer Medical Initiative (Hackensack, NJ), in support of a diabetes care and education program.

New York$68,466

Anthony L. Jordan Health Corporation (Rochester, NY), in support of a hypertension program that will address medication management, depression, diet, exercise and stress reduction.

Ithaca Health Alliance, Inc. (Ithaca, NY), in support of an integrative medicine pilot project using the chronic care model.

North Carolina$115,000

MERCI Clinic, Inc. (New Bern, NC), in support of increasing positive intervention and outcome capacity for chronic diseases.

Shelter Health Services, Inc. (Charlotte, NC), in support of averting diabetes onset in at-risk homeless women.

Community Free Clinic, Inc. (Concord, NC), in support of a new medical home for low income uninsured adults diagnosed with chronic health conditions who have an emergency department or inpatient hospitalization.

Mustard Seed Community Health (Greensboro, NC), in support of asthma, diabetes, hypertension and heart disease programs.

Ohio $100,000

North Coast Health (Lakewood, OH), in support of expanding its chronic illness management program.

Lake County Free Clinic (Painesville, OH), in support of expanding its services to facilitate walk-in patients.

Reach Out of Montgomery County (Dayton, OH), in support of a care coordination program that supports the health care systems to achieve better health outcomes.

Pennsylvania$135,000

Free Clinic Association of PA (West Chester, PA), in support of a new project that will utilize motivational interviewing to improve health outcomes for patients living with chronic disease.

Sheep Inc. Health Care Center (Monroeville, PA), in support of a second clinic that will give expanded access to patients.

The University of Scranton (Scranton, PA), in support of an initiative to manage, reduce or eliminate risk factors of patients who suffer from diabetes, obesity and/or hypertension through healthy lifestyle modifications.

Hope Within Ministries, Inc. (Elizabethtown, PA), in support of increased access to primary health care and low-cost mental health counsel services.

Texas$95,000

First Refuge Ministries (Denton, TX), in support of its diabetes prevention program to help Hispanic, non-English speaking families understand their risk for diabetes, learn ways to lower these risk factors, and avoid the onset of diabetes.

Volunteer Healthcare Clinic (Austin, TX), in support of its chronic disease management program that provides comprehensive care to individuals suffering from hypertension, diabetes and other endocrine disorders.

San Jose Clinic (Houston, TX), in support of a care coordination program for the uninsured.

Virginia$70,000

Loudoun Free Clinic (Leesburg, VA), in support of a care coordination program that can help save lives, resources, and time and ensures dependable linkages between social and medical services for low-income residents of Loudoun County.

CrossOver Healthcare Ministry (Richmond, VA), in support of the Community Pharmacy Expansion Project that will address the need for improved access to affordable medications in Richmond.

Washington, D.C. $33,170

Whitman Walker Clinic, Inc., in support of a telenursing program for patients with chronic disease.

Wisconsin$70,000

St. Joseph’s Medical Clinic, Inc. (Waukesha, WI), in support of expanded health care services for a patient-centered, multi-disciplinary approach.

HealthNet of Rock County, Inc. (Janesville, WI), in support of a program that will assist Spanish-speaking patients in navigating the complex health care system.

About CVS Health
CVS Health is a pharmacy innovation company helping people on their path to better health. Through its approximately 9,600 retail pharmacies, more than 1,100 walk-in medical clinics, a leading pharmacy benefits manager with more than 75 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 and 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.

Media Contact

Mary Alfieri, CVS Health
Mary.Alfieri@CVSCaremark.com
401-770-9811

SOURCE CVS Health Foundation

CVS Caremark awarded Mail Service Pharmacy accreditation from URAC

WOONSOCKET, R.I., 2016-Apr-02 — /EPR Retail News/ — CVS Health (NYSE: CVS) announced today that pharmacy benefits manager CVS Caremark has been awarded Mail Service Pharmacy accreditation from URAC, a Washington, DC-based health care accrediting organization that establishes quality standards for the health care industry.

“At CVS Health, we are pleased to receive accreditation from URAC, which underscores our commitment to providing high quality mail pharmacy services to our millions of members who utilize this important pharmacy distribution channel,” said Jonathan Roberts, President of CVS Caremark. “Mail service pharmacy provides our members with a convenient way of getting their prescriptions and also encourages medication adherence, which is especially important for those with chronic conditions requiring maintenance medications.”

Mail Service Pharmacy is generally used by patients who require maintenance medications for chronic conditions and receive their maintenance medications in dosages of 90 day supplies or longer.URAC’s Mail Service Pharmacy Accreditation standards cover core organizational quality, customer service, communications and disclosure, drug utilization management, pharmacy operations, and a process for mail service outcomes measurement and quality improvement.

“By applying for and receiving URAC accreditation, CVS Health has demonstrated a commitment to quality healthcare,” said URAC President and CEO Kylanne Green. “Quality healthcare is crucial to our nation’s welfare and it is important to have organizations that are willing to measure themselves against national standards and undergo rigorous evaluation by an independent accrediting body.”

The URAC accreditation process demonstrates a commitment to quality services and serves as a framework to improve business processes through benchmarking organizations against nationally recognized standards. The URAC standards development process is consensus driven, with industry experts serving as volunteers to establish and revise appropriate industry benchmarks.

About URAC
URAC, an independent, nonprofit organization, is a well-known leader in promoting healthcare quality through its accreditation, education, and measurement programs. URAC offers a wide range of quality benchmarking programs and services that model the rapid changes in the healthcare system and provide a symbol of excellence for organizations to validate their commitment to quality and accountability. Through its broad-based governance structure and an inclusive standards development process, URAC ensures that all stakeholders are represented in establishing meaningful quality measures for the entire healthcare industry. For more information, visit www.urac.org.

About CVS Health
CVS Health is a pharmacy innovation company helping people on their path to better health. Through its approximately 9,600 retail pharmacies, more than 1,100 walk-in medical clinics, a leading pharmacy benefits manager with more than 75 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 and 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.


Media Contact:

Christine Cramer
CVS Health
(401) 770 3317
Christine.Cramer@cvshealth.com

Christina Beckerman
CVS Health
(401) 770 8868
Christina.Beckerman@cvshealth.com

SOURCE CVS Health

EPA recognized The Home Depot® with 2016 ENERGY STAR Partner of the Year – Sustained Excellence Award

ATLANTA, 2016-Apr-02 — /EPR Retail News/ — The U.S. Environmental Protection Agency (EPA) has recognized The Home Depot®, the world’s largest home improvement retailer, with a 2016 ENERGY STAR Partner of the Year – Sustained Excellence Award – for its continued leadership in offering the latest innovations in energy efficient products.

In 2015, The Home Depot helped customers save nearly $701.6 million in annual utility costs, equaling a 4 million metric ton decrease in greenhouse gas emissions through the sale of ENERGY STAR certified products. The Home Depot offers more than 17,000 ENERGY STAR products in stores and online.

This is the ninth year the company has been recognized by EPA for its achievements.

In December 2015, The Home Depot also announced that it had exceeded 2015 sustainability goals, achieving a reduction of energy use in its stores by 30 percent over 2004 levels – a savings of more than 8 billion kilowatts over ten years. The original goal set in 2010 was to reduce energy use by 20 percent.

“We’re constantly seeking new and innovative products that are energy efficient, enabling our customers to save in their homes and businesses as we also reduce energy use in our stores,” says Ron Jarvis, vice president of environmental for The Home Depot.

The company also continues to implement a number of sustainability enhancements to its stores each year including Energy Management Systems to control all store lighting and HVACs and a fuel cell program that provides up to 85 percent of the energy that each participating store needs to operate.

For more information on Home Depot’s renewable energy initiatives, visit http://builtfromscratch.homedepot.com.

To learn more about ENERGY STAR’s awards program, visit www.energystar.gov/awardwinners.

About The Home Depot

The Home Depot is the world’s largest home improvement specialty retailer, with 2,274 retail stores in all 50 states, theDistrict of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. In fiscal 2015, The Home Depot had sales of $88.5 billion and earnings of $7.0 billion. The Company employs more than 385,000 associates. TheHome Depot’s stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor’s 500 index

About ENERGY STAR

ENERGY STAR® is the simple choice for energy efficiency. For more than 20 years, people across America have looked toEPA’s ENERGY STAR program for guidance on how to save energy, save money, and protect the environment. Behind each blue label is a product, building, or home that is independently certified to use less energy and cause fewer of the emissions that contribute to climate change. Today, ENERGY STAR is the most widely recognized symbol for energy efficiency in the world, helping families and businesses save $362 billion on utility bills, while reducing greenhouse gas emissions by more than 2.4 billion metric tons since 1992. Join the millions who are already making a difference at energystar.gov.

SOURCE The Home Depot

Aaron Bastian, Corporate Communications Manager, 770-384-2892, Aaron_bastian@homedepot.com

Macerich Schedules First Quarter 2016 Earnings Release on Tuesday, May 3, 2016

SANTA MONICA, Calif., 2016-Apr-02 — /EPR Retail News/ —

WHAT: Macerich (NYSE: MAC) Schedules First Quarter 2016 Earnings Release

WHEN: Earnings Results will be released after market close on Tuesday, May 3, 2016.  Management will hold a conference call at 10:30 am Pacific Time (1:30 pm Eastern Time) on Wednesday, May 4, 2016 to discuss quarterly results.

WHERE: Interested parties can listen to a live webcast of the call on the Macerich website at www.macerich.com (Investing Section).

WHO: Arthur Coppola, Chairman and CEO, and Thomas O’Hern, Senior Executive Vice President and Chief Financial Officer, will host the call.

REBROADCAST: A replay of the webcast will be available for one year following the live webcast in the Investing Section of the Company’s website at www.macerich.com. In addition, an audio replay of the earnings conference call will be available by telephone beginning at 4:30 pm Eastern Timeon May 4, 2016 and will be available until May 18, 2016 at 11:59 pm Eastern Time at toll free 1-877-870-5176, PIN 8724411 or International (toll) 1-858-384-5517.

ABOUT MACERICH: Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States.

Macerich currently owns 56 million square feet of real estate consisting primarily of interests in 51 regional shopping centers. Macerich specializes in successful retail properties in many of the country’s most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona,Chicago and the Metro New York to Washington, DC corridor. Additional information about Macerich can be obtained from the Company’s website at www.macerich.com.

SOURCE Macerich Company

Jean Wood, Vice President – Investor Relations 424-229-3366, John Perry, Senior Vice President – Investor Relations 424-229-3345, Thomas O’Hern, Senior Executive Vice President and Chief Financial Officer 310-394-6000

Whole Foods Market launches Instacart’s delivery service in Orange County

One hour delivery now offered at Newport Beach and Tustin stores 

NEWPORT BEACH, Calif., 2016-Apr-02 — /EPR Retail News/ — Whole Foods Market and Instacart have expanded their partnership, launching this week in Orange County, building on the 17 existing metros where consumers use Instacart’s delivery service to order from Whole Foods Market stores. Using Instacart, Orange County residents can now purchase and have their groceries delivered in as little as one hour from Whole Foods Market’s Newport Beach and Tustin locations.

Whole Foods Market offers delivery via Instacart at prices that are the same as those shoppers find in-stores.

“We’ve seen how much our customers love this fast and convenient way to receive their groceries right to their door, so we are thrilled to offer this service to our Orange County community,” said Patrick Bradley, president of Whole Foods Market’s Southern Pacific Region. “Instacart has given us a way to provide customers with the highest-quality, fresh and healthy groceries, even when they can’t make it into our stores.”

“Instacart and Whole Foods Market are committed to providing our customers with the easiest and most seamless grocery shopping experience possible. We’re excited to start with these two new stores in Orange County and look forward to continuing to innovate with Whole Foods Market in the services that we can bring to customers,” said Apoorva Mehta, founder and  CEO of Instacart.

By ordering at Instacart.com or via the Instacart mobile app, Whole Foods Market customers add items to a virtual cart, choose a delivery window (within one hour, within two hours, or at a scheduled time), check out, and receive their orders from Instacart personal shoppers. Additionally, with the Instacart Deals platform, Whole Foods Market shoppers can take advantage of special deals and discounts on their favorite products. Virtual coupons from Instacart Deals are immediately applied, and customers see their savings at checkout. Customers with the Whole Foods Market iOS app can browse thousands of recipes, create shopping lists, and then conveniently order the ingredients from the Instacart app. The seamless integration offers recipe inspiration, preparation and purchase in one simple, user-friendly experience.

New customers can sign up at www.Instacart.com. For other FAQs, visit https://www.instacart.com/faq.

Whole Foods Market Short Pump officially opens its expanded in-store pub

Features include 48 taps, chef station and wines by the glass and bottle 

GLEN ALLEN, Va., 2016-Apr-02 — /EPR Retail News/ — Whole Foods Market Short Pump officially opens its expanded in-store pub on Friday, April 1, with growler giveaways and a ceremonial “toast” at noon. The pub will feature 48 taps, a chef’s station with a rotating daily special, beer and wine by the bottle or glass, and daily happy hour specials.

“We want to make our store a must-stop destination for shoppers in Short Pump,” said Brian Burgunder, the store’s team leader. “With so many great beers on tap and our daily chef-prepared menu featuring the high quality and freshest ingredients that customers count on us for, we think there’s something here for everyone.”

From 4 to 6 p.m. on opening day, representatives from local craft breweries, including Lickinghole Creek Craft Brewery, Hardywood Park Craft Brewery, Stone Brewing, and Old Bust Head Brewing Company, will be on hand to offer beer tastings.

Short Pump Pub will typically feature more than 40 craft brews on tap with beer and kombucha flights of four 4-ounce samplers available. Those looking for a little nosh with their drinks can enjoy a cheese flight (three cheeses with accompaniments) put together by the store’s cheesemonger, and a Spanish charcuterie board featuring a selection of three cured meats, mixed olives and Marcona almonds. Happy hour is from 4 to 6 p.m. on weeknights. All pints of beer and wines by the glass are $1 off during happy hour.

Fresh, affordable options for lunch and dinner are available at the pub’s chef station. On weekdays, the chef station will serve lunch for $7 from noon to 2 p.m., and dinner for $9, served from 5 to 8 p.m. Feature items will include a Meatless Monday option, tacos on Tuesday, smoked in-house meats on Wednesdays, seafood on Thursdays and the chef’s choice on Fridays. Saturdays and Sundays will feature brunch with made-to-order waffles and omelets, plus Southern style chicken and waffles (served 8 a.m. to 1 p.m.). Dinner on Saturday night will be “buck a shuck night,” featuring Whole Foods Market exclusive Salty Hog oysters. Sunday will be game night nachos and bowls with made-in-house guacamole and salsas. Weekend dinners cost $9 and are served from 5 to 8 p.m.

Wine lovers will also be able to try several varieties of wine by the glass or bottle. Rosés from Spain, Argentina and Corsica, France; white wine from France, California, Oregon and Greece; and red wine from Italy, California and New Zealand. The pub will offer two bubbly options as well.

Ongoing events, including a monthly Meet the Brewer night, Tap Takeovers, Winefulness classes, and watch parties for sporting events are all in the plans for the newly expanded pub.

For additional information and exciting announcements about Whole Foods Market Short Pump, please visit the store’s social media channels:

Twitter: @WFMShortPump

Facebook: Whole Foods Market Short Pump

Whole Foods Market to relocate its Wilcrest store to Westheimer Road, opening June 1

May 4 deadline for job applications

HOUSTON, 2016-Apr-02 — /EPR Retail News/ — Whole Foods Market will relocate its Wilcrest store to 11041 Westheimer Road on June 1. The more-than-40,000-square-foot Houston store will employ 100 to 120 team members. Applications for store positions will be accepted at wholefoodsmarket.com/careers through May 4.

“We are so excited to be moving to a larger space right across the street,” said Miranda Schwartz, the store’s team leader. “We can’t wait to welcome our neighbors to their new store. Our Westchase store will have an incredible selection of ready-to-eat breakfast, lunch and dinner options, a coffee bar and hundreds of organic items throughout the store.”

Learn more about Whole Foods Market’s Westchase store: wholefoodsmarket.com/stores/westchase.

Facebook: Whole Foods Market Houston Twitter: @wholefoodshou

Instagram: @wholefoodshou #WFMWestchase

PREIT achieves near-completion of its non-core mall disposition effort with the sale of four more malls

  • Accentuates successful disposition program and underscores strength of new platform
  • Portfolio sales increase to $458 per square foot, increasing over 20% since 2012

PHILADELPHIA, 2016-Apr-02 — /EPR Retail News/ — PREIT (NYSE: PEI) today announced it has completed the sale of four additional non-core malls, a milestone achievement that signifies the near-completion of the Company’s non-core mall disposition effort with one remaining mall being marketed for sale. In November 2012, the Company communicated its plan to reshape its portfolio by disposing of non-core properties, including its lower-productivity malls, in order to reduce debt, dramatically improve portfolio quality and drive operating results. Since that time, the Company has successfully executed this plan, resulting in the sale of 13 lower-productivity malls as well as several power centers and land parcels, and has generated approximately $600 million in gross proceeds.

Highlights of the improved portfolio fundamentals include:

  • Average sales per square foot of the 13 malls sold were $267 compared to February 29, 2016 sales of$458 per square foot, excluding the properties subsequently sold;
  • Average Gross Rents for the 13 malls sold were$28.82 per square foot, nearly 50% lower than PREIT’s portfolio average of $54.56 per square foot excluding non-core malls;
  • Average non-anchor occupancy for the 13 malls sold at the time of sale was 82.1% which compares to a portfolio average of 92.9% at the end of 2015, excluding non-core malls;
  • The 13 malls that were sold were a drag on the Company’s performance, having generated a decrease in year-over-year Net Operating Income (NOI) of 10%, on average in the year before their respective dispositions.

Today, PREIT announces four, just completed, additional mall disposition transactions, including:

  • Lycoming Mall being sold for $26.35 million. Lycoming Mall in Pennsdale, Pa., is anchored by JC Penney, Sears, Bon-Ton and Macy’s.
  • A three mall package being sold for $66 million, inclusive of $17 million in seller financing. PREIT may also be entitled to $3.5 million of additional consideration for these malls if certain conditions are met in future years. The properties in this transaction are:
    • Gadsden Mall in Gadsden, Ala., which is anchored by Belk, JC Penney and Sears.
    • New River Valley Mall in Christiansburg, Va., which is anchored by Belk, Dick’s Sporting Goods, JC Penney and Kohl’s.
    • Wiregrass Commons Mall in Dothan, Ala., which is anchored by Belk, Burlington Coat Factory, Dillard’s and JC Penney.

The $600 million in gross proceeds has allowed the Company to reduce its overall indebtedness and fund value-creating redevelopment and remerchandising initiatives. Since 2011, PREIT has reduced its total debt by over $300 million and its Bank Leverage from 66.9% to approximately 50% as of December 31, 2015, with an outlined capital plan to drive this below 47% by 2018. The Company has also added one new Premier mall to its portfolio, Springfield Town Center in Springfield, Va., which has strengthened PREIT’s presence in the Washington, D.C., marketplace.

“PREIT has remained steadfastly committed to creating a high-quality portfolio that delivers outstanding results for our shareholders,” said Joseph Coradino, CEO of PREIT. “The disposition of these 13 malls redefines PREIT. With sales of $458 per square foot and remerchandising and redevelopment initiatives under way that provide a clear and realizable path to $500 per square foot, we are now a more compelling platform for retailers and investors, allowing us to continue to drive same-store NOI growth and strong shareholder returns.”

About PREIT
PREIT (NYSE:PEI) is a publicly traded real estate investment trust specializing in the ownership and management of differentiated shopping malls. Headquartered in Philadelphia, Pa., the company owns and operates over 25 million square feet of retail space in the eastern half of the United States with concentration in the Mid-Atlantic region’s top MSAs. Since 2012, the company has driven a transformation guided by an emphasis on balance sheet strength, high-quality merchandising and disciplined capital expenditures. Additional information is available at www.preit.com, on Twitter or LinkedIn.

 

Forward Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans, strategies, anticipated events, trends and other matters that are not historical facts. These forward-looking statements reflect PREIT’s current views about future events, achievements or results and are subject to risks, uncertainties and changes in circumstances that might cause future events, achievements or results to differ materially from those expressed or implied by the forward-looking statements.  Important factors that might cause future events, achievements or results to differ materially from those expressed or implied by PREIT’s forward-looking statements include those discussed in its Annual Report on Form 10-K for the year ended December 31, 2015 in the section entitled “Item 1A. Risk Factors.”  PREIT does not intend to update or revise any forward-looking statements to reflect new information, future events or otherwise.

 

CONTACT:
Heather Crowell
SVP, Corporate Communications and Investor Relations
(215) 454-1241
crowellh@preit.com

SOURCE PREIT

LuLu Group opens its 6th hypermarket in New Zinj’s Galleria Mall in Bahrain

Manama, Bahrain, 2016-Apr-02 — /EPR Retail News/ — LuLu Group, which is on a vast expansion mode, underscored its commitment to Bahrain by opening its 6th hypermarket in New Zinj’s Galleria Mall.

The new hypermarket, which is also the 124th store of LuLu Group globally, was officially inaugurated by H.E. Shaikh Khaled Bin Abdulla Al Khalifa, Deputy Prime Minister of Bahrain, in the presence of Bahraini Minister for Industry & Commerce – H.E. Zayed Al Zayani, Labour Minister – H.E. Jamil Humaidan, British Ambassador – Simon Martin CMG, US Ambassador – William Roebuck, Indian Ambassador – Alok Kumar Sinha, LuLu Group Chairman – Yusuff Ali M.A., prominent businessman Mohammed Dadabhai, LuLu Group CEO – Saifee Rupawala, Executive Director – Ashraf Ali M.A., Bahrain Regional Director – Juzer Rupawala, and other top officials.

Located next to the Al Ahli Sports Club and adjacent to the US Embassy, the new hypermarket will serve residents of Salmaniya and Zinj and offers easy access to Tubli and Isa Town residents as well. As always LuLu Hypermarket provides the widest range of quality and value-for-money products all under one roof. The outlet has also introduced inaugural offers and deals for a range of products at attractive prices.

“The opening of the 124th LuLu Hypermarket in the Kingdom of Bahrain and the 6th in the country is a moment of great pride for LuLu Group.” said Chairman Yusuff Ali after the inauguration. “As announced earlier, this new hypermarket is part of our committed BD 100 million investment plan for Bahrain. The group will open 2 more hypermarkets by the end of 2017 at Saar and Busaidi in Bahrain.” added Yusuff Ali.

“Our growth in Bahrain is powered by the vision of the leadership, the business-friendly economic environment and the ability of our Bahraini employees to absorb and fit into the LuLu service model, which puts customers above all. We thank His Majesty King Hamad Bin Isa Al Khalifa, HRH Prince Khalifa Bin Salman Al Khalifa, the Prime Minister, and HRH Prince Salman Bin Hamad Al Khalifa, the Crown Prince and First Deputy Premier, and the people of this great country for encouraging us in all our expansion strategies and efforts in Bahrain.”

On providing training and employment opportunity to the educated Baharaini youth, Yusuff Ali said, “It is also our endeavor to nurture the local talent and a proof of this is our strong Bahraini work force that form the nucleus of our operations here in Bahrain. Currently LuLu provides best quality training to absorb them in various managerial and specialized sections to Bahrainis. There are more than 1200 Bahrainis who work with us not only here but in other GCC countries also, and we will continue to support the Governments’ Bahranization plan by giving employment to more Bahrainis in our new projects.”

LuLu Group International Headquarters
P.O. Box : 4048
Abu Dhabi
UAE
+971 2 4182000
+971 2 6421716
headoffice@ae.lulumea.com
marketing@ae.lulumea.com

###

LuLu Group opens its 6th hypermarket in New Zinj’s Galleria Mall in Bahrain

LuLu Group opens its 6th hypermarket in New Zinj’s Galleria Mall in Bahrain

METRO AG prepares demerger into two independent and sector focused companies: Wholesale and Food Specialist group, and Consumer Electronics group

  • Creation of two independent, stock-listed companies as market leaders in their respective sectors
  • Separation of METRO GROUP into a Wholesale and Food Specialist group, and a Consumer Electronics group
  • Both companies with improved focus, quicker decision making processes, more flexibility and improved operational efficiency
  • CEO Koch: “The creation of two independent companies would be the logical next step in the transformation of our business towards more growth, customer centricity and entrepreneurship.”
  • Aimed for completion until mid-2017

Düsseldorf, Germany, 2016-Apr-02 — /EPR Retail News/ — The Management Board of METRO AG is preparing the creation of two independent and sector focused companies through a demerger of the group: A Wholesale and Food Specialist group, as well as a Consumer Electronics products and services group. Both entities would become individually stock-listed, with their own distinct profile, Management and Supervisory Boards. The aim would be to give each of the companies and their respective management full control over their corporate strategies. This will further increase customer focus, accelerate growth of the businesses, simplify structures and improve time-to-market and operational excellence. Moreover, both entities would be able to independently pursue acquisition and partnership strategies, enabling them to define their own expansion strategies.

Management and Supervisory Boards will make a decision on the contemplated demerger of METRO GROUP after a period of intensive consultation and review. Should ongoing assessments prove to be positive and the shareholders vote in favor, the implementation of the demerger is aimed for mid-2017.

“Over the past years, we have successfully revitalized our core businesses while significantly strengthening our group balance sheet,” said Olaf Koch, CEO of METRO AG. “Both our Wholesale and Food Specialist business as well as our Consumer Electronics business have continued to commercially improve, are on a steady successful path and are best-equipped for an independent future. Our shareholders would effectively own two well positioned market leaders, both of whom are increasingly focusing on their respective business areas and are generating more value for customers, employees and business partners.”

The demerger would see METRO AG separated into two independent businesses: A Wholesale and Food Specialist group (comprising METRO, MAKRO and their associated entities as well as Real) and a Consumer Electronics products and services group (comprising Media-Saturn and its portfolio of strong formats and brands). The two businesses currently have very limited operational overlap and very limited synergies.

Subject to the approval of the respective Supervisory Boards, it is intended that the Wholesale and Food Specialist entity would be run by Olaf Koch, currently CEO of METRO AG, while the Consumer Electronics group would be headed by Pieter Haas, currently member of the Management Board of METRO AG and CEO of Media-Saturn. Other board positions have yet to be decided. The implementation of the demerger is targeted by mid-2017, subject to customary approvals. METRO AG’s anchor shareholders Haniel, Schmidt-Ruthenbeck and Beisheim support the intention of METRO AG’s Management Board for a demerger into two independent companies.

Jürgen Steinemann, Chairman of the Supervisory Board of METRO AG, said: “I feel very strongly that a split into two independent and focused businesses would be in the best interest of all stakeholders, as it would facilitate a significant opportunity for faster and more profitable growth. Having discussed it in great depth, I fully support the initial results of the review conducted by the Management Board.”

The demerger would be executed through a spin-off of METRO Cash and Carry, Real and other related businesses and services companies from current METRO AG, which would subsequently fully focus on the consumer electronics sector under a new company name. This would enable both entities to strengthen their focus on the initiated transformation and innovation programs, while pursuing corporate development into significantly broadened spheres. It would also make the distribution and utilization of investment capital in both of the new entities clearer.

It is envisaged that METRO AG shareholders would receive shares in both companies in proportion with their existing holdings. Following final decisions by the Management Board and the Supervisory Board, shareholders would be invited to a General Meeting in order to discuss and vote on the proposed demerger. An analysis of current company structure, governance, growth opportunities, legal and tax consequences and financial aspects has shown that, from a shareholder perspective, the proposed demerger would be commercially beneficial.

The creation of two independent organizations has been made possible by the successful transformation of METRO GROUP and its business segments over the past few years. METRO Cash & Carry has delivered ten consecutive quarters of like-for-like growth and improving earnings, despite a challenging environment. Media-Saturn has achieved six consecutive quarters of like-for-like growth, an all-time high market share and strong earnings in the last fiscal year. Both businesses now have strong financial profiles and significant growth as well as value potential. Recent successes have been achieved through a strong customer focus and continued efforts to tailor the business models to local requirements. With the sale of GALERIA Kaufhof in 2015 and various other changes in the portfolio such as the sale of METRO Cash & Carry Vietnam and Real International over the past years, focus on METRO AG’s core businesses has been enhanced, and the group’s balance sheet strengthened, preparing the grounds for such a change.

METRO GROUP will hold a press conference today at 12:30 p.m. at the “Melia” Hotel in Düsseldorf (Inselstraße 2, 40479 Düsseldorf). It will also be broadcasted live.

METRO GROUP is one of the most important international retailing companies. It generated sales of some €59 billion in financial year 2014/15. The company operates over 2,000 locations in 29 countries and employs more than 220,000 people. The performance of METRO GROUP is based on the strength of its sales brands, which act independently on the market: METRO/MAKRO Cash & Carry, the international leader in the self-service wholesale trade; Media Markt and Saturn, the European market leader in consumer electronics retailing; and Real hypermarkets.

Contact Media Department

Telephone: +49 211 6886-4252
Telefax: +49 211 6886-2001

E-Mail METRO GROUP: presse@metro.de