RioCan to release its 4Q and Year_end 2016 financial results on Thursday, February 16, 2017

TORONTO, ONTARIO, 2017-Jan-07 — /EPR Retail News/ — RioCan Real Estate Investment Trust (“RioCan”) (TSX:REI.UN) today (01/05/2017) announced that it is scheduled to release its financial results for the three months and year-ended December 31, 2016 prior to the market open on Thursday, February 16, 2017.

Interested parties are invited to participate in a conference call with management on Thursday, February 16, 2017 at 10:00 a.m. eastern time. You will be required to identify yourself and the organization on whose behalf you are participating.

In order to participate, please dial 416-340-2216 or 1-866-223-7781. If you cannot participate in the live mode, a replay will be available until March 16, 2017. To access the replay, please dial 905-694-9451 or 1-800-408-3053 and enter passcode 3238528#.

Scheduled speakers include Edward Sonshine, O.Ont., Q.C., Chief Executive Officer, Rags Davloor, President and Chief Operating Officer and Cynthia Devine, Executive Vice President and Chief Financial Officer. Management’s presentation will be followed by a question and answer period. To ask a question, press “star 1” on a touch-tone phone. The conference call operator will be notified of all requests in the order in which they are made, and will introduce each questioner.

Alternatively, to access the simultaneous webcast, go to the following link on RioCan’s website http://investor.riocan.com/investor-relations/events-and-presentations/events/default.aspx and click on the link for the webcast. The webcast will be archived 24 hours after the end of the conference call and can be accessed for 120 days.

About RioCan

RioCan is Canada’s largest real estate investment trust with a total enterprise value of approximately $15 billion as at September 30, 2016. RioCan owns and manages Canada’s largest portfolio of shopping centres with ownership interests in a portfolio of 301 Canadian retail and mixed use properties, including 15 properties under development, containing an aggregate net leasable area of 47 million square feet. For further information, please refer to RioCan’s website at www.riocan.com.

Contact Information:
RioCan Real Estate Investment Trust
Christian Green
Assistant Vice President, Investor Relations & Compliance
416-864-6483
www.riocan.com

Source: RioCan

eBay partners with theSkimm to offer new ways to sell and give to charity

eBay partners with theSkimm to offer new ways to sell and give to charity

 

eBay offers new incentives to sell items for charity – providing a positive solution for the millions of people who don’t know what to do with their “unwanted” holiday gifts.

San Jose, California, 2017-Jan-07 — /EPR Retail News/ — New research reveals that nearly half of Americans received a holiday gift they did not want or will not use, and name friends (30%), co-workers (20%) and in-laws (19%) as the ones who didn’t quite hit the mark.*  Since most recipients don’t want to seem outwardly ungrateful by asking for a gift receipt, eBay has partnered with theSkimm to offer new ways to sell and give to charity.

In cities across the country – New York, Chicago, San Francisco, Atlanta, Houston – eBay and theSkimm will host events on January 12 to encourage people to give back by selling on eBay. With a global community of 165 million active buyers, there is always an eBay shopper in search of new designer fashion, the latest tech, home décor, and everything in between. For those who want to participate virtually to hear more about the partnership and how to use eBay’s cutting edge selling platform, join theSkimm’s Facebook Live at 12 noon Eastern on January 12.

“Every year, people receive gifts that aren’t quite right for them and then struggle with what to do,” said Suzy Deering, Chief Marketing Officer of eBay North America. “The tendency is to hold onto these new items but eBay offers a better option that allows you to simplify your life. Our selling solutions make it easy and fun to put these things back into play. It might not be the right gift for you, but it could be a perfect purchase for someone else. We partnered with theSkimm because of their expansive and highly engaged network, to reach a new audience and inspire them to start selling – either to make extra money or to benefit charity.”

Selling for Good

To coincide with the local events on January 12 and National Mentoring Month, eBay will make a $10 donation to Boys & Girls Clubs of America for every person who lists an item with at least 10% of proceeds benefitting the organization from January 12 to 16. Sellers everywhere will also have the option to participate by donating a portion of the proceeds from their listings to Boys & Girls Clubs of America through eBay for Charity.

“theSkimm has always been about making it easier for our audience to be smarter – about the world around them and the ways they spend their time. Part of our DNA as founders is being resourceful, and creating opportunities for our readers and Skimm’bassadors to actively engage in a great cause,” said Danielle Weisberg & Carly Zakin, co-founders and co-CEOs of theSkimm. “As we kick off a New Year, our partnership with eBay is a great way for theSkimm community to start fresh and sell items they may not need and give back to a worthwhile organization, Boys & Girls Clubs of America, that enables boys and girls to reach their full potential at the same time.”

“Boys & Girls Clubs of America provides life-changing programs and opportunities for millions of America’s kids and teens, and we’re incredibly grateful for the support of both eBay and theSkimm to enable more great futures for youth around the country,” said Chad Royal-Pascoe, National Vice President, Corporate & Cause Partnerships for Boys & Girls Clubs of America. “eBay makes it easy to give back and make a difference, by donating all or part of your sale with their Charity platform.”

Selling with Ease

eBay lets you sell the way you want with simple and stress-free options:

  • Sell it yourself. List an item on eBay yourself using a tablet, computer or any mobile device. Simply snap and upload a few pictures and choose the selling format that’s right for you. eBay will suggest a selling price to help you get the most for your item. Once your item has sold, you can print a shipping label on eBay and drop it in the mail.
  • Use eBay Valet. Let professionals handle everything from estimating the price of products to capturing images, and the quick and safe shipment of items to buyers. These experts will showcase items in the best light and in front of the largest shopping audience. Send your items for free to eBay Valet or drop them off at a participating FedEx Office location.

For additional selling information, visit the Seller Center or check out these product selling guides.

* The eBay Survey was conducted by Survey Monkey among 1,000 nationally representative U.S. adults ages 18-55, between December 25th and December 26th, 2016.

About eBay for Charity
eBay for Charity is a platform that enables members of the eBay community to donate to causes in the U.S. and abroad. Sellers can donate anywhere between 10-100 percent of the proceeds and buyers can add a donation to their purchase during checkout. At the end of 2015, more than $650 million dollars have been raised on eBay for Charity.

Contact:

United States: press@ebay.com
Canada: canada.press@ebay.com

Source: eBay

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Cold Stone Creamery® announces the return of its popular Fudge Truffle Ice Cream just in time for Valentine’s Day

Chocolate Lovers Will Delight in the Return of Fudge Truffle Ice Cream, Available for a Limited Time Only

Scottsdale, Ariz., 2017-Jan-07 — /EPR Retail News/ — Cold Stone Creamery® (www.ColdStoneCreamery.com) is bringing back more of what customers LOVE with the return of its popular Fudge Truffle Ice Cream, in stores January 4 through February 28, just in time for Valentine’s Day.

The rich and decadent Fudge Truffle Ice Cream is the way to any chocolate lover’s heart. Made fresh in store in small batches, this creamy treat is a sweet way to share the love and also comes in a delicious Creation™. The Falling in Chocolate™ Creation is made with Fudge Truffle Ice Cream, Brownie, Fudge and Whipped Topping.

“With the season of love upon us, we find a fantastic way to show affection towards that special someone is by treating them to our creamy and decadently rich Fudge Truffle Ice Cream,” said Kate Unger, senior vice president of marketing for Cold Stone Creamery. “This flavor profile is a chocolate lover’s dream and we very much enjoy bringing this frequently-requested flavor out at a time of year when we know so many are looking for that perfectly rich chocolate treat. We also can’t help but think the return of this fabulous flavor is a pretty sweet way to kick off the New Year!”

For even more chocolate delight, guests can also enjoy the heart-shaped, Fudge Truffle Decadence™ cake. With moist layers of Red Velvet Cake, Sweet Cream Ice Cream with Chocolate Shavings and Fudge Truffle Ice Cream with Chocolate Shavings wrapped in rich Fudge Ganache; it’s the perfect way to show someone how much they’re loved.

Additionally, the Fudge Truffle Frappe is back for a limited time only. This chocolate treat is an ice blended coffee drink with Dark Cocoa, Fudge and Whipped Topping and is sure to be the perfect pick-me-up!

The Cold Stone Creamery Falling in Chocolate Creation™ and Fudge Truffle Frappe will be in stores from January 4 – February 28, 2017. The Fudge Truffle Decadence™ cake ends February 14, 2017.

 Promotional Creation™:
o Falling in Chocolate™ – Fudge Truffle Ice Cream with Brownie, Fudge and Whipped Topping

 Promotional Cake:
o Fudge Truffle Decadence™ – Layers of moist Red Velvet Cake, Sweet Cream Ice Cream with Chocolate Shavings and Fudge Truffle Ice Cream with Chocolate Shavings wrapped in rich Fudge Ganache

 Promotional Frappe:
o Fudge Truffle – Creamy, ice blended coffee drink with Dark Cocoa, Fudge and Whipped Topping

Cold Stone Creamery gift cards make the perfect Valentine’s gift for friends, neighbors, teachers, and that special someone. Gift cards can be purchased in store or online at www.ColdStoneCreamery.com/giftcardsretail.

Cold Stone cakes, including the Fudge Truffle Decadence™ cake are also available in stores, or can be ordered online at www.ColdStoneCakes.com.

About Cold Stone Creamery®
Cold Stone Creamery delivers the Ultimate Ice Cream Experience® through a community of franchisees who are passionate about ice cream. The secret recipe for smooth and creamy ice cream is handcrafted fresh daily in each store, and then customized by combining a variety of mix-ins on a frozen granite stone. Headquartered in Scottsdale, Arizona, Cold Stone Creamery is owned by parent company Kahala Brands™, one of the fastest growing franchising companies in the world, with a portfolio of 18 quick-service restaurant concepts. The Cold Stone Creamery brand operates approximately 1,500 locations in over 28 countries.

For more information about Cold Stone Creamery®, please visit www.ColdStoneCreamery.com.

For more information about Kahala Brands™, please visit www.KahalaBrands.com.

CONTACT:

Jessica Benedick
Cold Stone Creamery
480.362.4837
jbenedick@kahalamgmt.com

Source: Cold Stone Creamery

Staples announces the appointment of Jeff Hall as Chief Administrative Officer and Vice Chairman

FRAMINGHAM, Mass., 2017-Jan-07 — /EPR Retail News/ — Staples, Inc. (Nasdaq: SPLS) today (Jan. 5, 2017) announced that it has appointed Jeff Hall to the newly created role of Chief Administrative Officer (CAO) and Vice Chairman.

In this new role, Hall will oversee Finance, Strategic Planning, Corporate Development, Investor Relations, Real Estate, Customer Service and High-Growth markets, and will report directly to Shira Goodman, Staples’ Chief Executive Officer and President.

“Jeff has a proven track record of helping transform companies in challenging industries, and of creating value for customers and shareholders,” said Goodman. “In this new position he will lead critical functions supporting Staples as we continue to execute our 20/20 transformation strategy.”

“I’m excited to join Staples in this new role,” said Hall. “Staples is an iconic brand and company that started an entire industry. Staples is already one of the largest e-commerce companies in North America, and with its strong delivery business and retail, I believe it has all the right assets to be successful in the long-term.”

Hall joins Staples from SunEdison Semiconductor, where for the past three years he served as Chief Financial Officer and Executive Vice President of Finance and Administration, responsible for Finance, Information Technology, and Human Resources. In that role, he oversaw both a successful IPO and a significant transformation of the company.

Prior to that, Hall was Executive Vice President and Chief Financial Officer at Express Scripts, where he helped drive the growth of the company from $20 billion in revenue to a $100 billion leader in pharmacy benefit management services through organic growth and strategic acquisitions.

About Staples, Inc.
Staples helps small business customers make more happen by providing a broad assortment of products, expanded business services and easy ways to shop – in stores, online, via mobile or through social apps. Staples Business Advantage, the business-to-business division, caters to mid-market, commercial and enterprise-sized customers by offering a one-source solution for the products and services they need, combined with best-in-class customer service, competitive pricing and a state-of-the-art ecommerce site. Headquartered outside of Boston, Staples, Inc. operates throughout North and South America, Europe, Asia, Australia and New Zealand. More information about Staples (NASDAQ: SPLS) is available at www.staples.com.

Contact:
Mark Cautela
508-253-3832
Mark.Cautela@staples.com

Source: Staples, Inc.

Pierce Brosnan extends his collaboration with SPAR Austria as the face of SPAR Premium

Austria, 2017-Jan-07 — /EPR Retail News/ — Former James Bond star, Pierce Brosnan, has extended his six year-long collaboration with SPAR Austria as the face of luxury own brand range, SPAR Premium.

The latest TV commercial featuring Brosnan was shot on a luxury yacht liner in Marina del Rey, Los Angeles, reflecting the glamour and gloss typical of the own brand range. The advert was launched in Austria on 1 December to great acclaim.

A true story of success
The famous Hollywood actor has been the face of SPAR Premium since 2010, helping to boost its image as a luxury own brand range. The range has grown steadily over the years and now comprises more than 340 products, with sales up 21% in 2015. Today, SPAR Premium is one of the most successful product ranges in the Austrian retail market.

The perfect image for SPAR Premium
Brosnan, who was recently awarded with a European lifetime achievement award in film, is the perfect fit for SPAR Premium. Commenting on his continued collaboration with SPAR, Dr Gerhard Fritsch, Head of Marketing at SPAR Austria said: “We are delighted that Pierce has decided to continue his partnership with us. He is one of a few true gentlemen actors and embodies style, class and luxury, the same values that SPAR Premium stands for. The Hollywood star is a fan of SPAR Premium and is 100% convinced of its quality.”

SPAR has used actors and stars like Pierce Brosnan in its own brand advertising campaigns for many years. “The fact that a movie star like Pierce has chosen to extend his long-term partnership with SPAR is proof of a good and solid relationship,” concluded Gerhard Fritsch.

Contact:

SPAR International
Email: info@spar-international.com
Tel: +3120 626 6749

Source: Spar International

Best Buy and Hockey Québec partner for the tenth edition of the Best Buy Cup

MONTREAL, Quebec, 2017-Jan-07 — /EPR Retail News/ — Best Buy and Hockey Québec are joining forces for the tenth edition of the Best Buy Cup. This event, which brings together nearly 200 Atom and Peewee hockey teams, is the biggest open-air hockey tournament for these young players to take part in, giving them the opportunity to experience outdoor hockey. The Best Buy Cup will be held over two weekends—January 28 and 29, and February 4 and 5, 2017—and will take place on the lake of the Centre de la Nature de Laval. These two weekends will be filled with family-friendly activities where both children and parents can play in the great outdoors, participate in various hockey tournaments, win a ton of prizes and even meet former players of the Montreal Canadiens—free of charge.

To celebrate its 10th anniversary, the Best Buy Cup will draft 10 Quebecers who will have the opportunity to be on teams with Patrick Langlois and Benoît Gagnon to compete in the Best Buy All-Star Game. They will go head to head with former Montreal Canadiens players Gaston Gingras, Karl Dykhuis, Rick Green and Steve Penney. This match will be held on January 28, 2017, to launch the 10thedition of the Best Buy Cup. Those wishing to submit their entries must post a hockey-themed photo of themselves on social media, tag Best Buy Québec and include the hashtag #MatchDesEtoilesBestBuy. The ten recruits will be randomly selected on January 23, 2017, at noon. Former Habs players Jesse Bélanger and Gilles Thibaudeau will also face off in a friendly match against the Best Buy Blue Shirts.

GENERAL INFORMATION:

SATURDAY, JANUARY 28, 2017
Best Buy All-Star Game
11:30 a.m. to 11:55 a.m.

The tournament will be held at:

CENTRE DE LA NATURE
901 Avenue du Parc
Laval, Quebec  H7E 2T7

Link: www.ville.laval.qc.ca

NRJ radio host Martin Lemay, who has been generously involved in the Best Buy Cup since its very first edition, returns again this year as the tournament’s honorary co-chair. And despite his absence, former Montreal Canadiens head coach Jacques Demers will also be this year’s honorary co-chair and will be recognized for his continued involvement and participation in this event from its inception.

For Thierry Lopez, Quebec Marketing & Corporate Affairs Manager at Best Buy, “We are very proud to be celebrating the tenth edition of the Best Buy Cup. We are pleased to be able to bring together young people from across Quebec for this unique and unforgettable outdoor hockey tournament. We recognize that the Best Buy Cup is becoming increasingly popular among young people and their parents, which is why we have expanded it over two weekends instead of just one. It’s also a wonderful occasion for young people to not only experience the joy of outdoor hockey, but to take part in the multitude of free activities offered on site.”

Mark your calendars for the Best Buy Cup on January 28 and 29, 2017, and February 4 and 5, 2017, to be held on the lake of the Centre de la Nature de Laval.

ABOUT BEST BUY

About Best Buy Canada
Best Buy stores in Canada are a division of Burnaby, BC-based Best Buy Canada Ltd., a wholly owned subsidiary of Best Buy Co., Inc. (NYSE: BBY). Best Buy is one of Canada’s largest and most successful retailers, operating the Best Buy, Best Buy Mobile and Geek squad brands. The Company offers consumers a unique shopping experience with the latest technology and entertainment products, plus an expanded assortment of lifestyle products offered through BestBuy.ca, at the right price. With over 200 Best Buy stores across Canada, we offer a unique shopping experience with the latest technology and entertainment products, at the right price, with a no-pressure (non-commissioned) environment. Every day our employees are committed to helping deliver technology solutions that enable easy access to people, knowledge, ideas and fun. We are keenly aware of our role and impact on the world, and we are committed to developing and implementing business strategies that bring sustainable technology solutions to our consumers and communities. For information about Best Buy, visit www.BestBuy.ca./a>

ABOUT HOCKEY QUÉBEC

Founded in 1976, Hockey Québec is a governing body which coordinates the activities of approximately 7,000 teams made up of 100,000 players across some 250 sports organizations and supports the work of nearly 50,000 volunteer administrators, coaches and officials throughout Quebec. For more information on Hockey Québec, visit www.hockey.qc.ca

Contact:

THIERRY LOPEZ
Quebec Marketing & Corporate Affairs
Best Buy
514-905-7713
tlopez@bestbuycanada.ca

CLAUDE-MARC RAYMOND
Marketing Coordinator
Hockey Québec
514-252-3079 extension 3862
cmraymond@hockey.qc.ca

AUDREY ANN LAURIN
Consultant
Veritas Communications
514-416-5390
laurin@veritasinc.com

Source: Best Buy

Stanley Black & Decker to acquire Craftsman brand from Sears Holdings

  • Stanley Black & Decker to develop, manufacture and sell Craftsman-branded products in non-Sears Holdings channels
  • Sears Holdings to continue sourcing and selling Craftsman-branded products in all its retail channels under perpetual license agreement
  • Agreement consists of $525 million cash payment at closing, $250 million at end of year three, and annual payments to Sears Holdings of between 2.5% and 3.5% on new Stanley Black & Decker sales of Craftsman products through year 15
  • Stanley Black & Decker to significantly increase availability and innovation of Craftsman products and add manufacturing jobs in the U.S. to support growth

NEW BRITAIN, Conn. and HOFFMAN ESTATES, Ill., 2017-Jan-07 — /EPR Retail News/ — Stanley Black & Decker (NYSE: SWK) (“Stanley Black& Decker” or “the company”), an S&P 500 global diversified industrial company, and Sears Holdings Corporation (NASDAQ: SHLD) (“Sears Holdings”), announced today ( Jan. 5, 2017) that they have entered into a definitive agreement under which Stanley Black& Decker will purchase the Craftsman brand from Sears Holdings.  The transaction provides Stanley Black& Decker with the rights to develop, manufacture and sell Craftsman-branded products in non-Sears Holdings retail, industrial and online sales channels across the U.S. and in other countries.  As part of the agreement, Sears Holdings will continue to offer Craftsman-branded products, sourced from existing suppliers, through its current retail channels via a perpetual license from Stanley Black& Decker, which will be royalty-free for the first 15 years after closing and royalty-bearing thereafter.  Today only approximately 10% of Craftsman-branded products are sold outside of Sears Holdings and the agreement will enable Stanley Black& Decker to significantly increase Craftsman sales in these untapped channels.

“Craftsman is a legendary, American brand with tremendous consumer awareness built on a legacy of producing quality products at a great value,” said Stanley Black& Decker President and CEO James M. Loree. “This agreement represents a significant opportunity to grow the market by increasing the availability of Craftsman products to consumers in previously underpenetrated channels.  We intend to invest in the brand and rapidly increase sales through these new channels, including retail, industrial, mobile and online. To accommodate the future growth of Craftsman, we intend to expand our manufacturing footprint in the U.S.  This will add jobs in the U.S., where we have increased our manufacturing headcount by 40% in the past three years.

“As we continue our growth trajectory as a diversified industrial company, we continue to look at opportunities to build upon our world-class portfolio of franchises and brands to create shareholder value.  This transaction, which aligns squarely with this strategy, also reflects an effective allocation of capital particularly when viewed in the context of the recently announced Mechanical Security sale.  We’ve essentially freed up capital trapped in a low-growth business to invest in organic growth and EPS accretion,” added Loree.

Sears Holdings’ Chairman and Chief Executive Officer Edward S. Lampert stated, “We are pleased to reach this agreement, after determining that externalizing the Craftsman brand would accomplish our goals of driving value for Sears Holdings and positioning Craftsman for future growth. This transaction represents a significant step in our ongoing transformation to a membership focused business model.  Craftsman has a storied history as an iconic American brand and in Stanley Black& Decker we have found a great owner that is committed to expanding Craftsman and helping it to reach its potential outside of its current channels. It’s important for our members to know that we will continue to sell Craftsman in-store and online at Kmart and Sears, and Sears Hometown, and the structure of the transaction will provide Sears Holdings with a significant upfront payment, another payment in three years and an opportunity to participate in the growth of the Craftsman brand in both our stores and at other retailers selected and managed by Stanley Black& Decker. Looking ahead, we will continue to take actions to adjust our capital structure, meet our financial obligations and manage our business to better position Sears Holdings to create long-term value by focusing on our best members, our best stores and our best categories.”

Transaction Terms

Stanley Black& Decker will pay Sears Holdings $525 million at closing, $250 million at end of year three, and annual payments on new Stanley Black& Decker Craftsman sales through year 15 (2.5% through 2020, 3% through January 2023, and 3.5% thereafter).  The net present value of all these cash payments is approximately $900 million.  The license granted to Sears Holdings will be royalty-free for 15 years, then 3% thereafter.

Existing sales of Craftsman products outside the Sears Holdings and Sears Hometown distribution channels, which will be assumed immediately upon closing by Stanley Black& Decker, were approximately $200 million over the last 12 months.  The company expects the sale of Craftsman branded products to contribute approximately $100 million of average annual revenue growth for approximately the next ten years.  The transaction is expected to be accretive to earnings by approximately $0.10-$0.15 per share in year one, increasing to approximately $0.35-$0.45 by year five and to approximately $0.70-$0.80 by year ten, excluding approximately $20 million of deal-related costs.

The transaction, which was approved by the Boards of Directors of both companies, is expected to close during 2017, subject to customary closing conditions and regulatory approvals.

Stanley Black& Decker will host a conference call with investors today, Thursday, January 5, 2017 at 09:00 am EST. A presentation which will accompany the call will be available at www.stanleyblackanddecker.com and will remain available after the call.

The call will be accessible by telephone at 1 (877) 930-8285 and from outside the U.S. at 1 (253) 336-8297 (Conference ID 46963043); also, via the Internet at www.stanleyblackanddecker.com. To listen, please go to the web site at least fifteen minutes early to register, download and install any necessary audio software. A replay will also be available two hours after the call and can be accessed at (855) 859-2056 or (404) 537-3406 by entering the Conference identification number 46963043. The replay will also be available as a podcast within 24 hours and can be accessed on our website and via iTunes.

Stanley Black& Decker, an S&P 500 company, is a diversified global provider of hand tools, power tools and related accessories, mechanical access solutions and electronic security solutions, healthcare solutions, engineered fastening systems, and more. Learn more at www.stanleyblackanddecker.com.

Sears Holdings Corporation (NASDAQ: SHLD) is a leading integrated retailer focused on seamlessly connecting the digital and physical shopping experiences to serve our members – wherever, whenever and however they want to shop. Sears Holdings is home to Shop Your Way®, a social shopping platform offering members rewards for shopping at Sears and Kmart as well as with other retail partners across categories important to them. The company operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation, with full-line and specialty retail stores across the United States. For more information, visit www.searsholdings.com.

Forward-Looking Statements

This press release contains forward-looking statements from Stanley Black& Decker or Sears Holdings which represent the respective company’s expectations or beliefs about future events and their respective financial performance. Forward-looking statements are identifiable by words such as “believe,” “anticipate,” “expect,” “intend,” “plan,” “will,” “may” and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Forward looking statements made in this press release, include, but are not limited to, statements concerning: the consummation of the purchase; investment in, and rapid increase in sales and innovation of products carrying the Craftsman brand; significantly increasing sales of Craftsman-branded products in untapped channels; expanding U.S. manufacturing footprint and adding jobs in the U.S.; the Craftsman brand complementing and expanding Stanley Black& Decker’s existing operations; revenue opportunities; and organic revenue growth and accretion to earnings per share.

You are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are not guarantees of future events and involve risks, uncertainties and other known and unknown factors that may cause actual results and performance to be materially different from any future results or performance expressed or implied by such forward-looking statements, including, but not limited to, the failure to consummate, or a delay in the consummation of, the transaction for various reasons; failure to successfully integrate the Craftsman brand and achieve expected revenue opportunities; the seller becoming insolvent or entering  bankruptcy proceedings; or the transaction-related costs and charges being greater than anticipated.

Forward-looking statements made herein are also subject to risks and uncertainties, described in the respective company’s: 2015 Annual Reports on Form 10-K; subsequently filed Quarterly Reports on Form 10-Q; and other filings made with the Securities and Exchange Commission. In addition, actual results could differ materially from those suggested by the forward-looking statements, and therefore you should not place undue reliance on the forward-looking statements. Neither Stanley Black& Decker nor Sears Holdings makes any commitment to revise or update any forward-looking statements made by it to reflect events or circumstances occurring or existing after the date of any of its forward-looking statements.

Stanley Black& Decker Contacts:
Investor Contacts:
Greg Waybright
Vice President, Investor Relations
greg.waybright@sbdinc.com
(860) 827-3833

Michelle Hards
Director, Investor Relations
michelle.hards@sbdinc.com
(860) 827-3913

Media Contacts:
Shannon Lapierre
Vice President, Communications/Public Relations
shannon.lapierre@sbdinc.com
(860) 827-3575

Tim Perra
Vice President, Communications
tim.perra@sbdinc.com
(860) 826-3260

Sears Holdings Contact:
Howard Riefs
Director, Corporate Communications
(847) 286-8371

SOURCE: Stanley Black& Decker

Sears Holdings announces strategic actions to increase its financial flexibility and improve operating performance

HOFFMAN ESTATES, Ill., 2017-Jan-07 — /EPR Retail News/ — Sears Holdings Corporation (NASDAQ: SHLD) today (Jan. 5, 2017) announced a series of additional strategic actions to increase its financial flexibility and improve long-term operating performance. These actions will facilitate the transformation of Sears from a store-based, asset-intensive business model into a membership-focused, asset-light business model. As such, the Board of Directors has determined to:

  • Close an additional 150 non-profitable stores, comprised of 108 Kmart and 42 Sears stores, to stem losses;
  • Enter into an agreement to sell the Craftsman business for a cumulative $775 million, together with use of a perpetual license for the Craftsman brand, royalty free for 15 years, and a 15-year royalty stream on all third-party Craftsman sales to new customers;
  • Generate up to $1 billion in liquidity through both a newly entered $500 million real estate backed loan, secured by real estate properties valued at over $800 million; and a previously announced standby letter of credit facility of up to $500 million from certain affiliates of ESL Investments, Inc., issued by Citibank, N.A., each subject to the terms thereof;
  • Market certain properties within the company’s real estate portfolio to further unlock value and increase liquidity.

“We are taking strong, decisive actions today to stabilize the company and improve our financial flexibility in what remains a challenging retail environment,” said Edward S. Lampert, Chairman & CEO of Sears Holdings. “We are committed to improving short-term operating performance in order to achieve our long-term transformation.”

“Going forward, Sears will be more focused on our Shop Your Way membership platform, a network with tens of millions of active members, and our Integrated Retail strategy in order to be a more nimble, innovative and relevant retailer that is better able to provide value and convenience to our customers. We are confident that concentrating on these key initiatives will lay the foundation for growth over the long-term,” Mr. Lampert continued.

STORE CLOSURES

Over the last two weeks we have announced the closing of non-profitable stores, comprising 108 Kmart and 42 Sears stores. The list of store locations impacted can be viewed at http://searsholdings.com/docs/010417_store_closing_list.pdf. While these stores collectively generated about $1.2 billion in sales over the past 12 months, they generated an Adjusted EBITDA loss of approximately $60 million over that same period. We expect to generate a significant amount of cash from the liquidation of the inventory and related assets of these stores. “The decision to close stores is a difficult but necessary step as we take actions to strengthen the Company’s operations and fund its transformation. Many of these stores have struggled with their financial performance for years and we have kept them open to maintain local jobs and in the hope that they would turn around. But in order to meet our objective of returning to profitability, we have to make tough decisions and will continue to do so, which will give our better performing stores a chance at success,” Mr. Lampert said.

CRAFTSMAN TRANSACTION

The company has entered into an agreement to sell its Craftsman business for $525 million at closing, $250 million in three years, together with use of a perpetual license for the Craftsman brand, royalty free for 15 years, and a 15-year royalty stream on all third-party Craftsman sales to new customers that could yield several hundred million dollars more over time.

“We are pleased to announce our agreement to restructure the ownership of our Craftsman brand, which will allow us to both realize value and participate in the expansion of its distribution and service offerings,” Mr. Lampert said.

INCREASED LIQUIDITY

As announced on December 29, 2016, Sears Holdings has obtained a secured standby letter of credit facility from certain affiliates of ESL Investments, Inc., issued by Citibank, N.A., of up to $500 million. In addition, we have entered a $500 million real estate backed loan, secured by real estate properties valued at over $800 million, against which an initial draw of approximately $320 million has been made. These actions will provide additional liquidity and flexibility as we work to close the asset sales previously referenced.

Further, our Board of Directors has established a Special Committee to market certain real estate properties with the goal of raising over $1 billion. We have already identified diverse transaction opportunities to further unlock value and increase liquidity and expect the Special Committee will engage external advisors to help us market these properties over the next several months.  We have executed several different forms of real estate monetization in the past and expect these structures could be among the options evaluated by the Special Committee in connection with this initiative.

Q4 BUSINESS UPDATE

Sales have continued to be challenging during the quarter to date. Same store sales at Sears and Kmart for the first two months of Q4 have declined in the range of 12-13%. We have continued to manage inventory and costs closely and our current quarter to date Adjusted EBITDA performance is largely in line with last year, despite the sales declines.

Our Home Services business continues to improve and we believe it is positioned to be a pillar of growth going forward. We are continuing to explore ways to maximize the value of our Home Services and Sears Auto Centers businesses as well as our Kenmore and Die Hard brands through partnerships or other means of externalization.

Forward-Looking Statements
This press release contains forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements about our transformation through our integrated retail strategy, our plans to redeploy and reconfigure our assets, our liquidity, and our ability to exercise financial flexibility as we meet our obligations. Whenever used, words such as “will,” “expect,” and other terms of similar meaning are intended to identify such forward-looking statements. Forward-looking statements, including these, are based on the current beliefs and expectations of our management and are subject to significant risks, assumptions and uncertainties, many of which are beyond the Company’s control, that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Detailed descriptions of risks, uncertainties and factors relating to Sears Holdings are discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. While we believe that our forecasts and assumptions are reasonable, we caution that actual results may differ materially. We intend the forward-looking statements to speak only as of the time made and do not undertake to update or revise them as more information becomes available, except as required by law.

About Sears Holdings Corporation
Sears Holdings Corporation (NASDAQ: SHLD) is a leading integrated retailer focused on seamlessly connecting the digital and physical shopping experiences to serve our members – wherever, whenever and however they want to shop. Sears Holdings is home to Shop Your Way®, a social shopping platform offering members rewards for shopping at Sears and Kmart as well as with other retail partners across categories important to them. The company operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation, with full-line and specialty retail stores across the United States. For more information, visit www.searsholdings.com.

MEDIA CONTACT:
Sears Holdings Public Relations
(847) 286-8371

SOURCE: Sears Holdings Corporation

Colruyt Group further expands its collaboration with Belgian Food banks

Halle, Belgium, 2017-Jan-07 — /EPR Retail News/ — Colruyt Group is further expanding its already successful collaboration with the Food banks. Until recently, local collection of unsold food took place in 14 Colruyt stores, this number will now be increased to as many as 37 stores. Colruyt Group considers it a duty to limit food loss to a minimum. With this expansion, a lot more can be donated than the 443 tonnes which were collected in 2016.

Since spring 2016, 14 Colruyt stores in Belgium have donated their unsold yet perfectly edible food directly to local organisations, under the management of the Food banks. This means about 2 to 3 tonnes of food per store per month. Now, the number of stores has more than doubled. Henceforth, local collection of unsold food will be organised in 37 stores. “With the holidays, extra attention was focused on looking after others and providing for the less fortunate. We want to commit to that for the whole year. By expanding our collaboration with the Food banks, we aim to focus even more on the reduction of food loss,” says Françoise Decoster of the environment service.

The collaboration with the Food banks is nothing new. Since 1997, Colruyt Group has donated unsold food, which can still legally be sold, to the Food banks. On one hand, donation takes place through the Dassenveld logistics centre in Halle. There, the Food banks collect unsold food from a number of stores every weekday, as well as food from the distribution centre itself. On the other hand, it happens locally, direct from the stores themselves. The collaboration between Colruyt Group and the Food banks runs exceptionally smoothly. Alfons De Vadder, Managing Director of the Belgian Foodbanks Federation says, “For us, the way in which we work with Colruyt Group is an example of the approach we want to take with our other partners. For example, the food is already neatly sorted and ready for our volunteers, so they can immediately load it without losing any time. Furthermore, Colruyt has already checked the quality, so we can be sure that we don’t have to throw anything more away.”

In 2015, a total of 490 tonnes was donated to the Food banks. In 2016, the 14 participating stores alone donated 443 tonnes of food. That went directly to the Food banks or to a member (regional) organisation. “Obviously, we’re now trying for an even greater volume thanks to more than doubling the number of collection points,” says Françoise Decoster.

Optimum use of high quality surplus food

To prevent food loss by our customers, fresh foods are removed from the shelves four days before their expiry date, and this applies to all stores. “So we get products with a comfortable shelf life which makes our work more pleasant,” says Alfons De Vadder of the Belgian Foodbanks Federation.

The system also makes it possible to expand donations to include fruit and vegetables which are still perfectly edible, but no longer appealing enough to be offered to customers, or whose packaging has been damaged.

Thanks in part to an efficient, automated supply system, with optimum stocks for each store and a range tailored to its needs, Colruyt Group sells a maximum quantity of goods efficiently. “For fresh food which isn’t sold, we come up with the most useful possible applications, always taking into account food safety and what is economically and practically feasible. The expansion of our collaboration with the Food banks is yet another large step in the right direction of diverting surplus food for human consumption,” concludes Françoise Decoster.

The Food banks (www.voedselbanken.be)

The Belgian Foodbanks Federation is an umbrella organisation. It represents a national network of 9 regional Food banks which distribute food amongst charities. The Food banks’ objective is to distribute food aid to the less fortunate. To this end, they receive large quantities of free food from the Fund for European Aid to the most Deprived (FEAD), but also from the food industry, large retailers and auctions, and they organise food collections from the general public. Everything collected is used to provide as many meals as possible to the less fortunate. Currently, around 13,000 tonnes of food is collected via around 629 local charitable organisations and distributed to over 138,000 beneficiaries.

Contact:

Hanne Poppe
press@colruytgroup.com
+32 (0)2 363 55 45
+32 (0)473 92 45 10

Source: Colruyt Group

Coop-Gruppe steigert Umsatz um 5,1 Prozent auf 28,3 Milliarden Franken

BASEL, SWITZERLAND, 2017-Jan-07 — /EPR Retail News/ — Der Umsatz der Coop-Gruppe stieg um 5,1 % auf CHF 28,3 Milliarden. Währungs- und teuerungsbereinigt betrug der Zuwachs 5,2 %. Coop gewann im Detailhandel Marktanteile und erreichte in einem herausfordernden Marktumfeld den Vorjahresnettoerlös (exkl. Treibstoffe). Sehr erfreulich entwickelten sich Grosshandel und Produktion mit einem Zuwachs von 15,2 %.

Detailhandel
Der Nettoerlös im Detailhandel belief sich auf CHF 17,2 Milliarden. Die Coop-Supermärkte steigerten die Kundenfrequenz um gute 2,6 % und erreichten mit CHF 10,3 Milliarden Nettoerlös in einem schwierigen Marktumfeld das Vorjahresniveau. Die Fachformate legten im Nettoerlös um 0,4 % zu (exkl. Treibstoffe).

Grosshandel / Produktion
Im Geschäftsbereich Grosshandel / Produktion stieg der Nettoerlös um 15,2 % auf CHF 12,2 Milliarden. Die Transgourmet-Gruppe erwirtschaftete mit den Cash&Carry-Märkten sowie dem Belieferungsgrosshandel einen Nettoerlös von CHF 8,5 Milliarden. Transgourmet konnte damit um 14,4 % zulegen und ihre Position als zweitgrösstes Unternehmen im europäischen Abhol- und Belieferungsgrosshandel weiter ausbauen.

Online
Weiterhin auf Wachstumskurs ist der Online-Handel der Coop-Gruppe. Der Nettoerlös betrug CHF 1,4 Milliarden, was einem Wachstum von 14,3 % entspricht. Im Detailhandel stieg der Nettoerlös im Online-Geschäft um 11,3 % auf CHF 572 Millionen an. Der Online-Supermarkt Coop@home verzeichnete ein sehr gutes Wachstum von 7,2 % und erzielte einen Nettoerlös von CHF 129 Millionen. Im Grosshandel wuchs der Umsatz im Online-Geschäft um 16,4 % auf CHF 818 Millionen.

Heimelektronik
Mit fast CHF 2 Milliarden Nettoerlös baute Coop ihre Position als Marktleaderin im Heimelektronikbereich weiter aus.

Nachhaltigkeit
Die Nachhaltigkeits-Eigenmarken und -Gütesiegel im Detailhandel entwickelten sich auch 2016 sehr erfreulich. Der Nachhaltigkeitsumsatz wuchs um rund 7 % auf CHF 3,5 Milliarden.

Die Bilanzmedienkonferenz findet am 14. Februar 2017 statt.

Kontakt:

Urs Meier
Leiter Medienstelle
Tel. +41 61 336 71 10

Ramón Gander
Mediensprecher
Tel. +41 61 336 71 67

Andrea Bergmann
Mediensprecherin
Tel. +41 61 336 67 37

Source: Coop