Daily Archives: May 8, 2017

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Express To Close All Canadian Stores To Optimize Store Footprint

  • Express to close its 17 stores in Canada; following these closings, Express will continue to operate 635 stores in the U.S.
  • Actions aligned with strategic focus on improving profitability and optimizing the store footprint

COLUMBUS, Ohio, 2017-May-08 — /EPR Retail News/ — Express, Inc. (NYSE:EXPR) (the “Company”) today (May 4, 2017) announces an additional measure as part of its continued strategic approach to improving profitability and managing and optimizing its store footprint.

As part of this plan, Express intends to close all 17 Canadian stores and discontinue its Canadian operations through its Canadian subsidiary,Express Fashion Apparel Canada Inc. (“Express Canada”). This morning, as a part of that process, Express Canada filed an application for protection under the Companies’ Creditors Arrangement Act (the “CCAA”) with the Ontario Superior Court of Justice (Commercial List) in Toronto.

David Kornberg, Express, Inc. president and chief executive officer noted that, “The challenging Canadian retail environment, coupled with unfavorable exchange rates prevented us from meeting the expectations we had when we entered the market in 2011. While difficult, this action is best for the future of Express and we are committed to carry it out in a way that reflects our respect and appreciation for employees who are impacted. Our overriding focus remains to invest in and direct our resources towards those areas that can generate the greatest return, including growing our e-commerce business, relaunching our customer loyalty program, and continuing to build our omni-channel capabilities to allow our customers to engage with our brand and shop wherever, whenever, and however they want. The decision to exit Canada is consistent with our long-term strategy and will have no impact on our operations in the U.S., which remain in a solid financial position.”

For the fiscal year ended January 28, 2017, Express Canada had net sales of approximately $34 million in U.S. dollars ($45 million in Canadian dollars) and contributed a net loss of approximately $6 million in U.S. dollars to the Express, Inc. consolidated financial statements.

Express Canada currently has 17 stores across Alberta, British Columbia, and Ontario. To facilitate an orderly wind-down, Express Canada intends to conduct store closing sales beginning mid-May. Subsequent to the closings, Canadian customers will continue to be able to make purchases through the Company’s e-commerce website, www.express.com, as well as through the Express mobile app. As part of its application, Express Canada is seeking the appointment of Alvarez & Marsal Canada as Monitor in the CCAA proceedings to oversee the liquidation and wind-down process for Express Canada.

As a result of the CCAA filing, Express, Inc. has determined that Express Canada will be deconsolidated from Express, Inc. financial statements as of the date of the filing. As shown in the table below and detailed as follows, Express, Inc. expects this to impact pre-tax profit on its consolidated financial statements in the range of $28 to $34 million in 2017, driven primarily by the write-down of its investment in Express Canada along with costs associated with exiting Canada. The Company will incur charges of approximately $6 million in the first quarter of 2017 and the remaining $22 to $28 million of exit costs in the second quarter of 2017. In addition, the Company anticipates tax benefits related to exiting Canada in the range of $14 to $16 million, of which approximately $7 million is expected in the first quarter of 2017 and the remaining $7 to $9 million in the second quarter of 2017. As a result, Express, Inc. expects to report an impact to net income in the range of $14 to $18 million in 2017, of which approximately a $1 million benefit is expected in the first quarter of 2017 and an impact of $15 to $19 million expected in the second quarter of 2017. Total after tax cash costs to exit Canada are expected to be in a range of $8 to $12 million. The impact of these exit costs was not included in the Company’s most recently provided guidance.

The Company plans to release first quarter fiscal 2017 results on Thursday, June 1, 2017.

The expected impact of Express Canada’s CCAA Filing on the Express, Inc. consolidated financial statements is as follows:

First Quarter 2017 Second Quarter 2017 Full Year 2017
Income (Loss) Before Tax (~$6 million)(1) ($22 to $28 million)(2) ($28 to $34 million)
Income Tax Benefit(3) ~$7 million $7 to $9 million $14 to $16 million
Net Income (Loss) ~$1 million ($15 to $19 million) ($14 to $18 million)
Total After-Tax Cash Costs ($8 to $12 million)
(1) Driven primarily by a non-cash asset impairment charge of approximately $6 million in the first quarter of 2017.
(2) Driven primarily by the write-down of the investment in Express Canada along with costs associated with exiting Canada in 2017.
(3) Anticipated tax benefits related to exiting Canada.

About Express, Inc.:

Express is a specialty apparel and accessories retailer of women’s and men’s merchandise, targeting the 20 to 30- year-old customer. Express has more than 35 years of experience offering a distinct combination of fashion and quality for multiple lifestyle occasions at an attractive value addressing fashion needs across work, casual, jeanswear, and going-out occasions. The Company currently operates more than 650 retail and factory outlet stores, located primarily in high-traffic shopping malls, lifestyle centers, and street locations across the United States, Canada, and Puerto Rico. Express merchandise is also available at franchise locations and online in Latin America. Express also markets and sells its products through its e-commerce website, www.express.com, as well as on its mobile app.

Forward-Looking Statements:

Certain statements are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include any statement that does not directly relate to any historical or current fact and include, but are not limited to, the Company’s plans to improve profitability and to make certain investments in the business and results from such plans and investments, as well as the plan to discontinue Canadian operations and expected financial impacts. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties, and changes in circumstances that are difficult to predict, and significant contingencies, many of which are beyond the Company’s control. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Additional information concerning these factors can be found in Express, Inc.’s filings with the Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events, or otherwise, except as otherwise required by law.

Investors:
Mark Rupe
614-474-4465
Vice President
Investor Relations

Media:
Robin Hoffman
614-474-4834
Director, Communications

Source: Express, Inc.

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Abercrombie & Fitch to Hold Quarterly Earnings Conference Call on May 25

New Albany, Ohio, 2017-May-08 — /EPR Retail News/ — Abercrombie & Fitch Co. (NYSE: ANF) will be holding its quarterly earnings conference call for all interested parties on May 25, 2017, at 8:30 a.m. EDT.  A press release detailing the company’s first quarter results is expected to be issued shortly after 7:30 a.m. EDT.

What: Abercrombie & Fitch First Quarter Fiscal 2017 Earnings Call

When: 8:30 a.m. EDT Thursday, May 25, 2017

Where: http://www.abercrombie.com

How: Live over the internet:  Log on to the web at the above address, select the Investors page and click on Events; or call:   Domestic Dial-In Number: 1-877-857-6176, ask for the Abercrombie & Fitch
Quarterly Call. Domestic Replay Number: 1-888-203-1112, conference ID number 1371111   International Dial-In Number: 1-719-325-4879, ask for the Abercrombie & Fitch
Quarterly Call. International Replay Number: 1-719-457-0820, conference ID number 1371111

The call will be archived and can be accessed for two weeks following the reporting date by calling either of the replay numbers listed above; or for 12 months by visiting the company’s website www.abercrombie.com.

An investor presentation of first quarter results will be available in the “Investors” section of the company’s website at www.abercrombie.com at approximately 8:00 a.m. EDT on Thursday, May 25, 2017.

For further information, call:

Investor Contact:
Brian Logan
Abercrombie & Fitch
(614) 283-6751
Investor_Relations@abercrombie.com

Media Contact:
Michael Scheiner
Abercrombie & Fitch
(614) 283-6192
Public_Relations@abercrombie.com

Source: Abercrombie & Fitch

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Avon’s New Fundraising Initiative and Grant To Support Survivors of Domestic Violence

New Limited-Edition Fundraising Tote Introduced by Avon, Featuring Artwork Designed by Three Children Who Resided with Their Mother at One of Sanctuary for Families’ Shelters

NEW YORK, 2017-May-08 — /EPR Retail News/ — Today (May 4, 2017), New Avon LLC (“Avon”) and the Avon Foundation for Women launch a new fundraising initiative in support of domestic violence victims, and announce a new grant to Sanctuary for Families (“Sanctuary”), New York City’s largest service provider for survivors of domestic violence and their children, bringing total amount contributed to over $675,000. The new $5,000 grant was  presented to the organization by local-area Avon Representatives on Thursday, April 27, with all funds supporting the organization’s five New York City family shelters and their essential supportive services for domestic violence victims.

Avon’s new fundraising product, the Branching Out Empowerment Tote, launches just in time for Mother’s Day 2017. This limited-edition tote bag was created through Avon’s unique partnership with Sanctuary’s Children’s Collaborative Art Project. Through the program, Avon reviewed dozens of children’s artwork, and selected a painting created by three young children who resided with their mother at one of Sanctuary’s shelters. The painting features a large, colorful tree with many branches – symbolizing their family tree, filled with hope, healing and growth. To learn more about the project, visit Avon Insider at www.avon.com/blog.

“Avon has a longstanding commitment to empowering women,” said Scott White, Chief Executive Officer of New Avon, LLC. “We are proud to continue our support of Sanctuary for Families and are inspired by their work to bring hope and opportunity for domestic violence survivors and their families. It is an honor for us to partner with Sanctuary by introducing the Branching Out Empowerment Tote to raise critical awareness and funds to benefit the 1 in 4 women who are victims of domestic violence in the U.S.”

Christine Jaworsky, Director of the Avon Foundation and its leading Speak Out Against Domestic Violence Program added, “We’re excited to bring this project to life with Sanctuary for Families, an organization that shares the Avon Foundation for Women’s dedication to providing support and opportunities to domestic violence survivors.”

Avon’s Speak Out Against Domestic Violence program has provided more than $40 million for domestic and gender-based violence programs in the United States. It has funded hundreds of emergency domestic violence shelters, like those that Sanctuary provides, offering a safe space for women and children in imminent danger where they can heal emotionally, physically, and move toward self-sufficiency, and learn positive coping skills. Since 2010, Avon has helped serve more than 11 million domestic violence victims.

“We are grateful for our partnership with the Avon Foundation for Women, an organization that shares our deep commitment to empowering women and breaking the cycle of domestic violence,” said Judge Judy Harris Kluger, Executive Director of Sanctuary for Families. “For over 20 years, Avon has supported Sanctuary for Families, and through this funding we provide essential services to victims in New York City. We are thrilled to unveil the new Branching Out Empowerment Tote with the company and we honor the special artists from our shelter who helped create it.”

Avon’s Branching Out Empowerment Tote can be purchased exclusively through Avon Representatives. To locate an Avon Representative call 1-800-FOR-AVON or visit www.avon.com. For every Empowerment Product purchased, Avon will donate 20 percent of proceeds to the Avon Foundation for Women to support the Speak Out Against Domestic Violence Program.

About New Avon LLC

New Avon LLC (“Avon”) is the leading social selling beauty company in North America, with independent sales Representatives throughout the United States, Puerto Rico and Canada. Avon’s product portfolio includes award-winning skincare, color cosmetics, fragrance and personal care products, featuring iconic brands such as ANEW, Avon Color, mark., and Skin So Soft, as well as fashion and accessories. Avon has a 130 year history of empowering women through economic opportunity, and supporting the causes that matter most to women. Together, Avon and the Avon Foundation for Women have contributed over $1 billion globally toward eradicating breast cancer and domestic violence. Learn more about Avon and its products at www.avon.com.

About Sanctuary for Families

Founded in 1984 as a small network of safe homes, Sanctuary for Families (Sanctuary) is New York’s leading service provider and advocate for survivors of domestic violence, sex trafficking, and related forms of gender violence. Sanctuary annually provides clinical, legal, shelter and career training services for over 15,000 of New York City’s most vulnerable abuse victims and children. Sanctuary’s Legal Center is the largest domestic violence legal program in the U.S., and their model clinical programs are at the forefront in developing targeted services for immigrants, children, and other at-risk populations. These direct services are complemented by extensive outreach, training and education which annually reaches over 40,000 community leaders, professionals, government officials and others concerned about the crime of domestic violence and resources available for victims.

Media Contacts:

For Corporate Communications:

Liz Micci
Glover Park Group
+1 (646) 495-2700
emicci@gpg.com

Kristina Jorge
Avon Corporate Communications
+1 (212) 282- 5852
Kristina.Jorge@avonusa.com

Source: Avon

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Retail Industry Hopes for Tax Reforms, Infrastructure Investment, and Skills Funding

Melbourne, Australia, 2017-May-08 — /EPR Retail News/ — The Australian Retailers Association (ARA) and its members are hoping next week’s Federal Budget announcement will bring relief to the industry through tax reform, smart infrastructure investment and additional skills funding.

Russell Zimmerman, Executive Director of the ARA said the retail industry have been looking to both the Government and the Opposition to employ a fairer tax system to improve international competitiveness for retailers and stimulate economic growth.

“Retailers continue to face significant cost pressures in the Australian market, and reducing corporate taxes across the board will help businesses stay viable in a difficult operating environment,” Mr Zimmerman said.

“We are committed to reducing the overall tax burden to individuals and businesses to build consumer confidence, put more money back in consumer’s pockets and encourage productive investment.”

The ARA will also look for the Federal Budget to include sensible infrastructure investment to lift productivity and efficiency across both urban and regional Australia.

“There is an urgent need to improve retail supply chain operations to remain competitive in the international market,” Mr Zimmerman said, “and enhancing transport links to key retail hubs for both consumers and businesses will improve Australia’s business performance and achieve economic growth.”

The ARA believe developing the western suburbs of Sydney will create smoother efficiencies for Australian businesses, increase retail tourism and improve supply chain logistics.

“The substantial investment in both Badgerys Creek Airport and the inland rail link between Melbourne and Brisbane will not only boost the economy, but better connect us to global markets,” Mr Zimmerman said.

The ARA also welcome additional skills funding in the 2017 Budget and encourage the Government to maintain funding in education and training programs.

“Although the Government has already announced significant changes to 457 Visas, the ARA urge the Government to work with retailers to identify skills shortages across the retail sector and make necessary changes to address high-end skills into the country,” Mr Zimmerman said.

“As Australia’s biggest private employer, promoting retail as a viable and exciting career choice for young people is critical.

“The ARA are working with its members to ensure employers are supported in upskilling their staff with specific skills needed within the industry, and will look to the Government for their support in next week’s Budget,” Mr Zimmerman said.

Mr Zimmerman will be available for media comment and interviews in Canberra following the Federal Budget announcement on Tuesday 9 and Wednesday 10 May 2017.

For interview opportunities with ARA Executive Director Russell Zimmerman call: The ARA Media Line T: 0439 612 556 E:media@retail.org.au

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is the retail industry’s peak representative body representing Australia’s $310 billion sector, which employs more than 1.2 million people. The ARA works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,500 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.

SOURCE: Australian Retailers Association

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Shopify Shows Excellent Start to the Year With First Quarter 2017 Results

  • First-Quarter Revenue Grows 75% Year on Year
  • First-Quarter Gross Merchandise Volume Grows 81% Year on Year
  • Shopify reports in U.S. dollars and in accordance with U.S. GAAP

Ottawa, Canada, 2017-May-08 — /EPR Retail News/ — Shopify Inc. (NYSE:SHOP)(TSX:SHOP), the leading cloud-based, multi-channel commerce platform designed for small and medium-sized businesses, today (May 2, 2017) announced strong financial results for the quarter ended March 31, 2017.

“With our excellent start to the year, it is clear we are becoming the de facto platform for sellers,” stated Russ Jones, Shopify’s CFO. “In addition to merchant growth and their adoption of both new channels and merchant solutions, we also continue to see expansion of merchants’ GMV.  Retail is shifting headlong toward the vision we laid out two years ago — of inspiring entrepreneurship with multi-channel commerce — and we fully expect to continue leading this industry transition for years to come.”

First-Quarter Financial Highlights

  • Total revenue in the first quarter was $127.4 million, a 75% increase from the comparable quarter in 2016. Within this, Subscription Solutions revenue grew 60% to $62.1 million.  This increase was driven by the continued rapid growth in Monthly Recurring Revenue (“MRR”) as a record number of merchants joined the platform in the period.  Merchant Solutions revenue grew 92% to $65.3 million, driven primarily by the growth of Gross Merchandise Volume (“GMV”).
  • MRR as of March 31, 2017 was $20.7 million, up 62% compared with $12.8 million as of March 31, 2016.  Shopify Plus contributed $3.5 million, or 17%, of MRR compared with 11% of MRR as of March 31, 2016.
  • GMV for the first quarter was $4.8 billion, an increase of 81% over the first quarter of 2016.  Gross Payments Volume (“GPV”) grew to $1.8 billion, which accounted for 38% of GMV processed in the quarter, versus $1.0 billion, or 37%, for the first quarter of 2016.
  • Gross profit dollars grew 80% to $72.2 million as compared with the $40.1 million recorded for the first quarter of 2016.
  • Operating loss for the first quarter of 2017 was $14.5 million, or 11% of revenue, versus $9.7 million, or 13% of revenue, for the comparable period a year ago.
  • Adjusted operating loss4 for the first quarter of 2017 was 3.4% of revenue, or $4.3 million; adjusted operating loss for the first quarter of 2016 was 8.1% of revenue, or $5.9 million.
  • Net loss for the first quarter of 2017 was $13.6 million, or $0.15 per share, compared with $8.9 million, or $0.11 per share, for the first quarter of 2016.
  • Adjusted net loss4 for the first quarter of 2017 was $3.5 million, or $0.04 per share, compared with an adjusted net loss of $5.1 million, or $0.06 per share, for the first quarter of 2016.
  • At March 31, 2017, Shopify had $395.7 million in cash, cash equivalents and marketable securities, compared with $392.4 million on December 31, 2016, and compared with $189.5 million on March 31, 2016.

Business Highlights

  • Over one thousand Shopify Partners and Developers from around the world gathered in San Francisco in April to discuss the future of Shopify, commerce, and technology at our partner conference, Shopify Unite. New product development discussions included several announcements scheduled for availability in the second quarter, such as:
    • Shopify Point-of-Sale Card Reader. The first piece of hardware designed in-house by Shopify, the new chip-and-swipe reader offers portability and EMV support to merchants looking to sell at markets, pop-up shops or permanent retail locations. Emblazoned with the Shopify logo, the new reader seamlessly connects a merchant’s in-person sales with those made on their online store and other channels.
    • Shopify Pay. Shopify Pay allows merchants to offer their customers the option to securely save their shipping and credit card information for future purchases from any participating Shopify store. Shopify Pay is designed to increase conversion by reducing checkout to a simple 2-step entry: an email address and a unique 6-digit order notification via SMS.
    • Wholesale Channel for Plus. Using this channel, Shopify Plus merchants can create a separate, password-protected storefront, managed within their existing store. Merchants can invite buyers to purchase products at assigned wholesale prices, creating a more efficient way to manage customer bulk ordering in one place, without two systems or workarounds.
    • New Application Programming Interfaces (“APIs”) for partners.  Shopify Partners can now leverage  new APIs across a number of areas to build useful apps that integrate more directly with Shopify.  These include the Custom Storefront API, which enables partners to build for specific audiences, experiences and opportunities; the Marketing Events API, which allows developers to automatically add tracking to their marketing apps, helping merchants understand the impact of their marketing efforts; and the Draft Orders API, which lets developers expand how orders are created and completed.
  • Mobile traffic to merchants’ stores continued to grow, reaching 69% of traffic and 59% of orders at the end of March 2017 versus 62% and 51%, respectively, at the end of March 2016.
  • Shopify Capital reached $49 million in aggregate cash advances to U.S. merchants using Shopify Payments by the end of the first quarter. By April 30, 2017, aggregate cash advances had reached more than $60 million.

Financial Outlook

The financial outlook that follows constitutes forward-looking information within the meaning of applicable securities laws and is based on a number of assumptions and subject to a number of risks. Actual results could vary materially as a result of numerous factors, including certain risk factors, many of which are beyond Shopify’s control. Please see “Forward-looking Statements” below.

In addition to the other assumptions and factors described in this press release, Shopify’s outlook assumes the continuation of growth trends in our industry, our ability to manage our growth effectively and the absence of material changes in our industry or the global economy. The following statements supersede all prior statements made by Shopify and are based on current expectations.  As these statements are forward-looking, actual results may differ materially.

These statements do not give effect to the potential impact of mergers, acquisitions, divestitures or business combinations that may be announced or closed after the date hereof.  All numbers provided in this section are approximate.

For the full year 2017, Shopify currently expects:

  • Revenues in the range of $615 million to $630 million
  • GAAP operating loss in the range of $69 million to $73 million
  • Adjusted operating loss in the range of $14 million to $18 million, which excludes stock-based compensation expenses and related payroll taxes of $55 million

For the second quarter of 2017, Shopify currently expects:

  • Revenues in the range of $142 million to $144 million
  • GAAP operating loss in the range of $18 million to $20 million
  • Adjusted operating loss4 in the range of $6 million to $8 million, which excludes stock-based compensation expenses and related payroll taxes of $12 million

Quarterly Conference Call

Shopify’s management team will hold a conference call to discuss its first-quarter results today, May 2, 2017, at 8:30 a.m. ET.  The conference call will be webcast on the investor relations section of Shopify’s website at https://investors.shopify.com/events/Events-Presentations/default.aspx.  An archived replay of the webcast will be available following the conclusion of the call.

Shopify’s First-Quarter 2017 Interim Unaudited Condensed Consolidated Financial Statements and Notes and its First-Quarter 2017 Management’s Discussion and Analysis are available on Shopify’s website at www.shopify.com, and will be filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

About Shopify

Shopify is the leading cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. Merchants can use the software to design, set up, and manage their stores across multiple sales channels, including web, mobile, social media, marketplaces and physical retail locations. The platform also provides merchants with a powerful back-office and a single view of their business. The Shopify platform was engineered for reliability and scale, making enterprise-level technology available to businesses of all sizes. Shopify currently powers hundreds of thousands of businesses in approximately 175 countries and is trusted by brands such as Tesla, Nestle, GE, Red Bull, Kylie Cosmetics, and many more.

Non-GAAP Financial Measures

To supplement its consolidated financial statements, which are prepared and presented in accordance with United States generally accepted accounting principles (GAAP), Shopify uses certain non-GAAP financial measures to provide additional information in order to assist investors in understanding its financial and operating performance.

Adjusted operating loss, non-GAAP operating expenses, adjusted net loss and adjusted net loss per share are non-GAAP financial measures that exclude the effect of share-based compensation expenses and related payroll taxes.

Management uses non-GAAP financial measures internally for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Shopify believes that these non-GAAP measures provide useful information about operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making.  Non-GAAP financial measures are not recognized measures for financial statement presentation under U.S. GAAP and do not have standardized meanings, and may not be comparable to similar measures presented by other public companies. Such non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. See the financial tables below for a reconciliation of the non-GAAP measures.

Forward-looking Statements

This press release contains certain forward-looking statements within the meaning of applicable securities laws, including statements regarding Shopify’s financial outlook and future financial performance. Words such as “expects”, “anticipates” and “intends” or similar expressions are intended to identify forward-looking statements.

These forward-looking statements are based on Shopify’s current projections and expectations about future events and financial trends that management believes might affect its financial condition, results of operations, business strategy and financial needs, and on certain assumptions and analysis made by Shopify in light of the experience and perception of historical trends, current conditions and expected future developments and other factors management believes are appropriate. These projections, expectations, assumptions and analyses are subject to known and unknown risks, uncertainties, assumptions and other factors that could cause actual results, performance, events and achievements to differ materially from those anticipated in these forward-looking statements. Although Shopify believes that the assumptions underlying these forward-looking statements are reasonable, they may prove to be incorrect, and readers cannot be assured that actual results will be consistent with these forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of numerous factors, including certain risk factors, many of which are beyond Shopify’s control, including but not limited to: (i) merchant acquisition and retention; (ii) managing our growth; (iii) our history of losses; (iv) our limited operating history; (v) our ability to innovate; (vi) a disruption of service or security breach; (vii) payments processed through Shopify Payments; (viii) our reliance on a single supplier to provide the technology we offer through Shopify Payments; (ix) a breach involving personally identifiable information; (x) serious software errors or defects; (xi) exchange rate fluctuations; (xii) achieving or maintaining data transmission capacity; and (xiii) other one-time events and other important factors disclosed previously and from time to time in Shopify’s filings with the U.S. Securities and Exchange Commission and the securities commissions or similar securities regulatory authorities in each of the provinces or territories of Canada. The forward-looking statements contained in this news release represent Shopify’s expectations as of the date of this news release, or as of the date they are otherwise stated to be made, and subsequent events may cause these expectations to change. Shopify undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

CONTACT:

INVESTORS:
Katie Keita
Director, Investor Relations
613-241-2828
IR@shopify.com

MEDIA:
Erin Hochstein
Public Relations Manager
226-972-1767
press@shopify.com

Source: Shopify

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New Chief Financial Officer for Nordstrom Announced

SEATTLE, 2017-May-08 — /EPR Retail News/ — Seattle-based Nordstrom, Inc. announced today (May 4, 2017) that Anne Bramman is joining the company as Chief Financial Officer (CFO), effective June 2, 2017.

“After a thorough search for a CFO, we’re excited to have Anne join our team,” said Blake Nordstrom, co-president of Nordstrom, Inc. “Anne’s breadth of financial expertise and background as a strong business leader will serve us well as we continue to invest in our growth strategy.”

Ms. Bramman comes to Nordstrom from Avery Dennison Corporation where she has served as Senior Vice President and CFO since 2015. Ms. Bramman has an extensive financial leadership background in a variety of industries, including retail. She previously held the CFO position at Carnival Cruise Line and was CFO of Henri Bendel, a subsidiary of L Brands Inc.  In her new role, Ms. Bramman will focus on driving productivity and supporting Nordstrom’s continued growth.

“I’ve always admired Nordstrom and am excited to join the company during a time of transformative change in the industry,” said Ms. Bramman. “Nordstrom has been an industry leader in strategically investing for the future and I look forward to supporting their commitment to operating excellence.”

Mike Koppel retired as the company’s CFO May 1, 2017 after 16 years and will continue to support Nordstrom in a consulting and advisory role through the end of the year.

About Nordstrom

Nordstrom, Inc. is a leading fashion specialty retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 353 stores in 40 states, including 122 full-line stores in the United States, Canada and Puerto Rico; 220 Nordstrom Rack stores; two Jeffrey boutiques; and two clearance stores. Additionally, customers are served online through Nordstrom.com, Nordstromrack.com and HauteLook. The company also owns Trunk Club, a personalized clothing service serving customers online at TrunkClub.com and its seven clubhouses. Nordstrom, Inc.’s common stock is publicly traded on the NYSE under the symbol JWN.

INVESTOR CONTACT: 
Trina Schurman Nordstrom, Inc.
(206) 303-6503
Trina.Schurman@nordstrom.com

MEDIA CONTACT: 
Gigi Ganatra Duff
Nordstrom, Inc.
(206) 303-3030
Gigi.Ganatra@nordstrom.com

SOURCE: Nordstrom, Inc.

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Amazon FreeTime Unlimited service now on Android phones and tablets

Amazon FreeTime Unlimited service now on Android phones and tablets

 

  • Amazon adds popular FreeTime app to Google Play—now kids can enjoy their favorite books, videos, YouTube videos, and websites inside FreeTime for the first time on a phone
  • FreeTime Unlimited service blends world-class parental controls with access to over 10,000 age-appropriate titles from brands like Disney,Nickelodeon, PBS Kids, HarperCollins, and Simon & Schuster

SEATTLE, 2017-May-08 — /EPR Retail News/ — Amazon today (May 3, 2017) announced that kids can now enjoy the popular Amazon FreeTime Unlimited service, including books, videos, YouTube videos and websites on Android phones and tablets. The FreeTime app for Android is free to use and offers similar parental controls that are available with FreeTime on Fire Tablets, including Fire Kids Edition, plus access to over 40,000 YouTube videos and websites that have been hand-selected by the FreeTime team. For even more content, parents can add the Amazon FreeTime Unlimited service starting at $2.99 per month to gain unlimited access to over 10,000 age-appropriate books and videos. Parents can download the FreeTime app starting today at http://bit.ly/2otF8GD.

“Over 10 million kids have enjoyed Amazon FreeTime on Fire Tablets, Kindle e-Readers, and Amazon Fire TV—we’re thrilled to bring that same award-winning experience to even more families,” said Kurt Beidler, Director of Kids & Family, Amazon. “Now, whether it’s a Mom sharing her Android phone with her child or a child learning to use their first Android tablet, Amazon FreeTime Unlimited makes it easier for kids to have unlimited access to a broad selection of the content they love—on a wide range of phones and tablets—while giving parents peace of mind.”

The award-winning Amazon FreeTime service balances giving kids the freedom of choice and unlimited access to popular content while ensuring parents that what their kids are viewing on their devices is age-appropriate. Parents can hand-select books, videos, apps and games to add to the FreeTime app, and kids can explore over 40,000 age-appropriate YouTube videos and websites that are hand-curated by the FreeTime team. Parents can also manage screen time limits by content type with innovative features like Learn First, which hides all entertainment content until daily educational goals are met, and Bedtime, which automatically turns off FreeTime at night and keeps it off until the wake-up time parents set—with weekday and weekend settings.

For even more content, parents can add FreeTime Unlimited, the all-in-one subscription service that allows kids to explore over 10,000 age-appropriate books and videos from popular brands like Disney, Nickelodeon, Amazon Studios, PBS Kids, HarperCollins, and Simon & Schuster. Starting at only $2.99 per month, FreeTime Unlimited offers unlimited access to favorite book and video titles for kids of all ages, including:

  • Books: Splat the Cat, Little Blue Truck Leads the Way, Frog and Toad Are Friends, Curious George Goes to the Hospital, Caps for Sale, Inside Out Junior Novel, National Geographic Readers: Mummies, Big Nate: Game On!, Beezus and Ramona, Bridge to Terabithia, Star Wars: Before the Awakening, The Princess Diaries, and many more
  • Videos: Daniel Tiger’s Neighborhood, If You Give A Mouse a Cookie, Wishenpoof!, Fireman Sam: Ultimate Heroes—The Movie, The Gruffalo,Odd Squad: The Movie, Just Add Magic, Happy Feet, LEGO Friends, Pokemon the Series: Ruby and Sapphire, An American Girl Story—Melody 1963: Love Has to Win, Tarzan, and many more

Additionally, Amazon recently introduced new features for Amazon FreeTime with Parent Dashboard and Discussion Cards. Discussion Cards let parents connect with their kids’ digital experience by providing short summaries of the FreeTime content their kids are using, along with sample questions and activities that parents and kids can share in together based on the book, video, educational app or game. Discussion Cards are found within the Parent Dashboard, a mobile optimized website that also provides daily activity reports to help parents review the digital content their kids are using in FreeTime, to determine how to manage time limits and set educational goals. To learn more, visit: http://parents.amazon.com.

The Amazon FreeTime app and Amazon FreeTime Unlimited service is available on Android devices starting today in the U.S., and is already available on Fire Tablets, Fire TV and Kindle e-Readers. Amazon FreeTime Unlimited is available starting at $2.99 per month and is included as a one-year subscription on the Fire Kids Edition tablet. Existing FreeTime Unlimited subscribers can also now access their subscription on Android devices at no extra cost. Learn more at www.amazon.com/freetime.

About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit www.amazon.com/about and follow @AmazonNews. Learn more about Amazon Prime Now, Shop, or Download the App at www.primenow.com.

Media Hotline:
206-266-7180
amazon-pr@amazon.com
www.amazon.com/pr

Source: Amazon.com, Inc.

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Whole Foods Market opens its third store in Charlotte located at Waverly Walk Avenue on Tuesday, May 23

Community invited to BBQ & Bluegrass event benefiting Sustain Charlotte on Saturday, May 20

CHARLOTTE, N.C., 2017-May-08 — /EPR Retail News/ — Whole Foods Market will open its third store in Charlotte on Tuesday, May 23, at 7221 Waverly Walk Avenue. Opening day shoppers will be greeted with door-buster deals and an array of product demonstrations and samples.

The community is invited to join Whole Foods Market Waverly for a Bluegrass and BBQ event in front of the store on Saturday, May 20, from 4 to 7 p.m. The celebration will feature BBQ, bluegrass music, and plenty of fun for the whole family – even the four-legged members! All proceeds from this event will be donated to Sustain Charlotte which, as part of its overall mission to address sustainability challenges in our rapidly growing city, is working to ensure that fresh and nutritious food is available in all neighborhoods. For event details and ticket prices, visit www. eventbrite.com/e/bluegrass-bbq-festival-tickets-34236084049.

“We’re excited to join South Charlotte’s growing community with the opening of our new Whole Foods Market Waverly,” said Ruben Duran, the Waverly store’s team leader. “We hope members of the community will join us for some good food and music at the Bluegrass and BBQ event to celebrate the store opening. We are proud that all proceeds from this event will benefit Sustain Charlotte, an organization that is leading sustainability awareness and initiatives in the community.”

“Whole Foods’ commitment to providing healthy food and giving back to the local communities where they operate makes them an ideal partner for us,” said Shannon Binns, the executive director of Sustain Charlotte. “We’re thrilled that they are opening a store in a development that prioritizes walkability as well.”

Every item sold in the store meets Whole Foods Market’s rigorous quality standards and is free of artificial flavors, colors, sweeteners, preservatives and hydrogenated fats.

Members of the media can contact SOmedia@wholefoods.com to schedule preview tours of the new store.

SOURCE: Whole Foods Market

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Get Half Off Your Frappuccino With Frappuccino Happy Hour

Get Half Off Your Frappuccino With Frappuccino Happy Hour

 

Seattle, 2017-May-08 — /EPR Retail News/ —

Frappuccino Happy Hour is back!

Starting Friday, customers who visit participating Starbucks® stores in the United  States and Canada between 3 and 6 p.m. local time can enjoy half-off Frappuccino® blended beverages, any flavor and any size.

This summer’s featured Frappuccino® beverages include Starbucks new Midnight Mint Mocha Frappuccino® blended beverage and S’mores Frappuccino® blended beverage.

Snapchat Lens

Customers can also have fun with their Snapchat selfies May 5-14 by visiting a participating Starbucks store during Frappuccino® Happy Hour to unlock special Snapchat Lenses that are only available in Starbucks stores. Simply look for the Snapchat Snapcode in the store and scan the code using the Snapchat app.  There will be different lenses every two days throughout Frappuccino® Happy Hour.

Ways to Lighten Up

Try one of these five Frappuccino® beverages for 150 calories or less, or lighten up by customizing your own:

Skip the whip: Ask for just a little or no whip to save between 80 to 110 calories, depending on beverage size.

Name your milk: Request nonfat milk or non-dairy almondmilk or coconutmilk to adjust the calories or fat.

Sugar-free: Select a sugar-free syrup (available at participating stores in vanilla, mocha and cinnamon dolce) for great flavor without added calories or sugar.

Fewer Pumps: Ask for less syrup to help reduce the sweetness and calories in any beverage.

Lighten up: Many blended beverages can be requested “light,” made with nonfat milk and without whipped cream.

MEDIA CONTACT:

Global
Phone: 206 318 7100
Email: press@starbucks.com

SOURCE: Starbucks Corporation

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Starbucks Expands Caribbean Presence With First Store in Jamaica

Starbucks Expands Caribbean Presence With First Store in Jamaica

 

Starbucks has granted Caribbean Coffee Traders Limited the exclusive rights to develop and operate stores in Jamaica

SEATTLE and KINGSTON, Jamaica, 2017-May-08 — /EPR Retail News/ —Starbucks Coffee Company (NASDAQ: SBUX) today (May 4, 2017) announced it has entered a geographic licensing agreement with Caribbean Coffee Traders Limited, a consortium led by Margaritaville Caribbean Group, a leading restaurant management and franchise operator in the Caribbean. The agreement grants Caribbean Coffee Traders the exclusive rights to own and operate Starbucks® stores in the country. Jamaica will be Starbucks 17th market in the Latin America and Caribbean region, with the first store slated to open in Montego Bay.

“Jamaica is a country blessed with a rich culture and heritage, particularly with its locally-grown and world renowned Blue Mountain coffee, which Starbucks has sourced as a specialty offering for over 40 years,” said Ricardo Rico, Starbucks general manager and vice president for Latin America operations. “We are delighted to build on this legacy and continue our expansion into the Caribbean by introducing the Starbucks Experience in Jamaica for the first time. As we position the brand for continued growth, we are proud to add Caribbean Coffee Traders to our strong network of licensing partners and leverage their proven market capabilities to reach new customers.”

Starbucks® stores in Jamaica will be operated by Caribbean Coffee Traders Limited, a joint venture between Ian Dear, Chief Executive Officer of Margaritaville Caribbean Group and Adam Stewart, who is also Deputy Chairman and Chief Executive Officer of Sandals Resorts International. Margaritaville Caribbean Group currently operates restaurant, entertainment and tour concepts throughout the Caribbean, and provides complete, multi-branded food and beverage experiences for major Caribbean tourism hubs. Margaritaville Caribbean Group’s brand portfolio includes a diverse collection of proprietary brands, international franchises, casual dining concepts, themed bars and popular quick service restaurants, including Wendy’s, Dominos, Dairy Queen, Quiznos, Auntie Annie’s, Cinnabon, Moe’s Southwest Grill and Nathan’s. The group employs over 1,000 people throughout the region.

“We are thrilled to welcome Starbucks, a globally recognized brand, to Jamaica. Leveraging our knowledge of the local market, we will deliver upon the Starbucks Experience and create a global platform for Jamaica’s locally-grown and Blue Mountain© coffee.” said Ian Dear, Chief Executive Officer of Margaritaville Caribbean Group. “Our organizations share similar values, including our dedication to the customer experience, commitment to our crew members, and responsible corporate citizenship.”

For more than 45 years, Starbucks has built its brand by delivering a consistent, authentic in-store experience to customers around the globe that is rooted in high-quality arabica coffee and engaged, knowledgeable baristas. Since launching the brand in Latin America, Starbucks has grown to over 1,000 stores across 16 markets, 15 of which are operated by trusted licensing partners. In the Caribbean, Starbucks licensees currently operate 43 stores across Aruba, the Bahamas, Curacao, Puerto Rico, and most recently, Trinidad and Tobago. Jamaica will become the company’s sixth market in the Caribbean region.

About Starbucks

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 25,000 stores around the globe, Starbucks is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit our stores or online at news.starbucks.com and Starbucks.com.

MEDIA CONTACT:

Global
Phone: 206 318 7100
Email: press@starbucks.com

SOURCE: Starbucks Corporation

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Meijer launches its first-ever “Homeroom Heroes” contest to honor teachers

Winning school to receive more than $1,000 in supplies from Meijer and its partners

GRAND RAPIDS, Mich., 2017-May-08 — /EPR Retail News/ — Meijer is honoring local teachers in its six-state footprint through its first-ever  “Homeroom Heroes” contest. Now through May 13, parents are encouraged to nominate a teacher in their community and explain why the educator is a local hero. All active K-12 teachers throughout Michigan, Illinois, Indiana, Ohio, Kentucky and Wisconsin are eligible for entry.

One winner will be chosen in each of the six states. The winner’s school will receive more than $1,000 in free supplies. Meijer and participating brands, including Clorox, Crayola, Expo, Kleenex, Paper Mate, Scott, Sharpie and Viva, will donate various school supplies to be included in the prize packages. Meijer will also award a $100 gift card to the entrant that nominated each of the six winners.

“Teachers touch so many lives in so many ways. They are the unsung heroes of our communities,” said Nicole Laughlin, vice president of brand development and marketing for Meijer. “We’re proud to celebrate local educators across the Midwest by introducing the Meijer Homeroom Heroes Contest. We encourage everyone to nominate a deserving teacher!”

To enter, customers can visit www.facebook.com/meijer and click on the Homeroom Heroes tab. Submissions will be judged based on alignment with the contest theme, originality and clarity of expression. Winners will be notified beginning the week of May 22.

About Meijer:

Meijer is a Grand Rapids, Mich.-based retailer that operates more than 231 supercenters and grocery stores throughout Michigan, Ohio, Indiana, Illinois, Kentucky and Wisconsin. A privately-owned and family-operated company since 1934, Meijer pioneered the “one-stop shopping” concept and has evolved through the years to include expanded fresh produce and meat departments, as well as pharmacies, comprehensive apparel departments, pet departments, garden centers, toys and  electronics. For additional information on Meijer, please visit www.meijer.com. Follow Meijer on Twitter @twitter.com/Meijer and @twitter.com/MeijerPR or become a fan at www.facebook.com/meijer.

SOURCE: Meijer

Contact:

Jennifer Rook
616-791-2794
jennifer.rook@meijer.com

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Starbucks Rewards Loyalty Program Introduces New Way to Earn Stars in the Grocery

Starbucks Rewards Loyalty Program Introduces New Way to Earn Stars in the Grocery

 

Seattle, 2017-May-08 — /EPR Retail News/ — Members of Starbucks Rewards™ loyalty program have a new way to earn Stars as the program expands down the grocery aisle to now include Starbucks® K-Cups® Packs and ready-to-drink beverages.

The expansion more than triples the number of products eligible for Stars through the Starbucks Rewards™ loyalty program at grocery, where customers can now earn Stars on a wide range of Starbucks® K-Cup® Packs, individual ready-to-drink Starbucks®  beverages and Starbucks® Multi-Serve Chilled Coffees in addition to Starbucks® packaged roast & ground coffee, Starbucks VIA® Instant Coffee, and Starbucks VIA Instant Refreshers TM beverages.  Stars collected on eligible products are added to Starbucks Rewards™ members’ accounts and can be used to redeem Rewards at participating Starbucks® retail locations. To learn how to sign up for Starbucks Rewards™ and earn Stars in the grocery aisle, visit starbucks-stars.com and a full list of qualifying products can be found at https://members.starbucks.com/#in-grocery.

Through Starbucks Rewards™, members earn Stars for eligible purchases of coffee, food, drinks and merchandise, by registering a Starbucks Card or downloading the Starbucks® Mobile App.  After registration, members begin earning Stars and receive benefits including a free birthday beverage; free same-day in-store refills; and access to Mobile Order & Pay, which lets customers order and pay for their beverage via mobile device, prior to arriving at their selected, participating store.

After earning 300 Stars, customers reach Gold status. Gold members earn Rewards (a free drink or food item from the menu*) for each additional 125 Stars they collect. They also receive additional benefits including a Starbucks Gold-colored Card with their name on it, and access to exclusive perks like Double-Star Days.

Since its introduction in 2009, Starbucks Rewards™ loyalty program has allowed the company to introduce new ways and platforms to stay connected with customers. Starbucks has continued to evolve and expand the program to offer even more benefits to customers. More information about Starbucks Rewards can be found at https://members.starbucks.com/.

MEDIA CONTACT:

Global
Phone: 206 318 7100
Email: press@starbucks.com

SOURCE: Starbucks Corporation

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Sears and Rebuilding Together To Raise Funds And Assist Military Families

Sears and Rebuilding Together To Raise Funds And Assist Military Families

 

HOFFMAN ESTATES, Ill., 2017-May-08 — /EPR Retail News/ — Sears’ commitment to supporting veterans and military families dates back to WWI and has never wavered. That legacy endures as Sears launches its 10th annual Heroes at Home campaign with Rebuilding Together to raise funds and assist military families in need by making critical home repairs and modifications. Rebuilding Together affiliates and Sears volunteers nationwide will complete dozens of projects this spring, adding to the nearly 1,700 rebuilds completed since the program launched a decade ago.

Now through July 29, Sears Shop Your Way members and customers can donate when they check out at their local Sears store, or online via a link at sears.com/heroesathome. All funds raised will go to Rebuilding Together to rebuild homes for America’s veterans and military families, making them safe and healthy.”Even after 10 years of Heroes at Home, we’re still humbled by the stories of sacrifice and commitment at every rebuild,” said Gerry Murphy, chief marketing officer for Sears. “Supporting veterans and military families unites all Americans and it’s in our company’s DNA. We’re proud of Sears’ legacy of supporting veterans and of the more than 25,000 veterans and 1,500 active members of the Reserve and National Guard we currently employ.”This week, RecruitMilitary recognized Sears Holdings as a 2017 Most Valuable Employers for Military winner. Winners are selected annually based on those employers whose recruiting, training, and retention plans best serve military service members and veterans. Last year, Sears Holdings hired more than 2,700 veterans and more than 2,500 military spouses.By the numbers – 10 years of Heroes at Home:

• $21 million  Funds raised to rebuild veteran/military family homes and centers
• 14,250  Veterans served
• 1,660  Rebuilds completed
• 41,500/330,000  Sears associates/volunteer hours logged

“The decade-long commitment to the Heroes at Home program has improved the lives of many veterans and their families,” said Caroline Blakely, President and CEO of Rebuilding Together. “The need for our services still remains very high. Our veterans selflessly gave to our country to serve and protect us, so we’re grateful for the opportunity to help them stay safe and healthy in their homes and assist in their time of need – it’s a privilege our friends at Sears truly understand.”

Highlights of 2017 Builds
Examples of Heroes at Home rebuild projects Rebuilding Together will complete this spring include:

  • Columbus, Ohio– Repairing and upgrading a home dedicated to five older veterans. The home is run by a nurse who 17 years ago made it her life’s calling to find a way to provide a home for senior veterans. She returned to school, earned a business degree, and found a way to fund the home, which requires specialized needs for each vet.
  • Chicago– Ensuring that a widow of a WWII U.S. Navy veteran lives safely in her home for years to come. The loss of her husband and several of her adult children has left her with few support systems to maintain her independence and upkeep her home.
  • Detroit– Making critical repairs for a veteran who served in the Army in Fort Knox in the 1960s. Following open heart surgery, she can no longer perform repairs to her home nor afford to hire someone to do the work for her.
  • Pittsburgh– Providing repairs for the widow of a WWII veteran who served in the Army Air Corps near the end of the war. She and her family have lived in their home since 1964 even after her husband passed away in 2014 after 69 years of marriage. Repairs to her home will focus on health and safety improvements that will allow her to age in place while managing several medical challenges.

Sears also reminds military personnel that they can get 20 percent off regular priced (five percent off sale priced) tools, lawn and garden, fine jewelry and work boots, every day.*

For more information about Heroes at Home, to make a donation or volunteer, visit sears.com/heroesathome.

*In-store only. Must be active, reserve, or retired military personnel and present valid military ID. Not combinable with any other coupons, discounts, or during Family and Friends or Member events. Excludes Patio, Grills, Sears Hometown, Outlet, Appliance Showroom and Hardware stores.

About Sears, Roebuck and Co.
Sears, Roebuck and Co., a wholly owned subsidiary of Sears Holdings Corporation (NASDAQ: SHLD), is a leading integrated retailer providing merchandise and related services and is part of Shop Your Way, a social shopping experience where members have the ability to earn points and receive benefits across a wide variety of physical and digital formats through shopyourway.com. Sears, Roebuck offers its wide range of home merchandise, apparel and automotive products and services through Sears-branded and affiliated full-line and specialty retail stores in the United States and Canada. Sears, Roebuck also offers a variety of merchandise and services through sears.com, landsend.com and specialty catalogs. Sears, Roebuck offers consumers leading proprietary brands including Kenmore, Craftsman, and DieHard — among the most trusted and preferred brands in the U.S. The company is the nation’s largest provider of home services, with more than 14 million service and installation calls made annually. For more information, visit the Sears, Roebuck website at www.sears.com or the Sears Holdings Corporation website at www.searsholdings.com.

About Rebuilding Together
Rebuilding Together is a leading national nonprofit in safe and healthy housing with more than 40 years of experience. Together, with our corporate and community partners, we transform the lives of low-income homeowners by improving the safety and health of their homes and revitalizing their communities. Rebuilding Together’s local affiliates and nearly 100,000 volunteers complete about 10,000 rebuild projects nationwide each year. Learn more and get involved at rebuildingtogether.org.

MEDIA CONTACTS:

Brian Hanover
Sears PR
847-286-6080
Brian.Hanover@searshc.com

Lisa Curran
Zeno Group for Sears
312-396-9736
Lisa.Curran@zenogroup.com

SOURCE: Sears, Roebuck and Co.

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Macy’s and Tailored Brands Inc. Partnership Wind Down Operations

CINCINNATI & FREMONT, Calif., 2017-May-08 — /EPR Retail News/ — Macy’s, Inc. (NYSE:M) and Tailored Brands, Inc. (NYSE:TLRD) today (May 3, 2017) announced their joint plan to wind down operations under the tuxedo rental license agreement Macy’s, Inc. had established with Men’s Wearhouse on June 9, 2015.

“Macy’s is always looking for new partnerships that benefit both parties, as well as our customers, and we are grateful to have had the opportunity to collaborate with Tailored Brands. While the partnership did not produce the level of sales we expected, we will continue to benefit from the insights we gathered,” said Tim Baxter, chief merchandising officer at Macy’s, Inc. “Both Macy’s and Tailored Brands remain committed to putting our customers first, and we plan to fulfill customer orders and ensure a positive customer experience as we wind down the shops.”

“Innovating new business models is an important catalyst for long-term growth and we saw the partnership with Macy’s as an opportune way to expand our leadership in the tuxedo rental market,” said Tailored Brands’ CEO Doug Ewert. “Unfortunately, the initiative did not generate the revenue that both companies had envisioned. We believe it is in the best interest of our company and our shareholders to wind down the partnership.”

The Tuxedo Shops at Macy’s will continue to take new reservations until June 1, 2017, with operations winding down by July 14, 2017. All customers with outstanding rentals after this period will be contacted and offered the option of transferring their reservation to a nearby Men’s Wearhouse or Jos. A. Bank store to ensure complete customer satisfaction for all events. Customers with questions about reservations may contact the customer service team at 844-MCYSTUX or 844-629-7889, or via email at ClientServices@tuxedo.macys.com.

About Macy’s, Inc.

Macy’s, Inc. is one of the nation’s premier retailers. With fiscal 2016 sales of $25.778 billion and approximately 140,000 employees, the company operates more than 700 department stores under the nameplates Macy’s and Bloomingdale’s, and approximately 125 specialty stores that include Bloomingdale’s The Outlet, Bluemercury and Macy’s Backstage. Macy’s, Inc. operates stores in 45 states, the District of Columbia, Guam and Puerto Rico, as well as macys.com, bloomingdales.com and bluemercury.com. Bloomingdale’s stores in Dubai and Kuwait are operated by Al Tayer Group LLC under license agreements. Macy’s, Inc. has corporate offices in Cincinnati, Ohio, and New York, New York.

(NOTE: Additional information on Macy’s, Inc., including past news releases, is available at www.macysinc.com/pressroom)

About Tailored Brands, Inc.

Tailored Brands, Inc. is a leading authority on helping men dress for work, special occasions and everyday life. We serve our customers through an expansive omni-channel network that includes over 1,600 locations in the U.S. and Canada as well as our branded e-commerce websites. Our brands include Men’s Wearhouse, Jos. A. Bank, Joseph Abboud, Moores Clothing for Men and K&G. We also operate an international corporate apparel and workwear group consisting of Dimensions, Alexandra and Yaffy in the United Kingdom and Twin Hill in the United States.

For additional information on Tailored Brands, please visit the company’s websites at www.tailoredbrands.com,www.menswearhouse.com, www.josbank.com, www.josephabboud.com, www.mooresclothing.com,www.kgstores.com, www.mwcleaners.com, www.dimensions.co.uk, www.alexandra.co.uk. and www.twinhill.com.

Media Contact:
Brunswick Group
Blair Fasbender Rosenberg
212-333-3810

Investors Contact:
Matt Stautberg
513-579-7780

For Tailored Brands, Inc.:
Julie MacMedan
281-776-7575
ir@tailoredbrands.com

Source: Macy’s, Inc. and Tailored Brands, Inc.

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Martha Stewart brand to launch at QVC

Martha Stewart brand to launch at QVC

America’s Most Trusted Lifestyle Expert to Appear on QVC

NEW YORK, 2017-May-08 — /EPR Retail News/ — Sequential Brands Group, Inc. (Nasdaq:SQBG) (“Sequential” or the “Company”) and QVC, Inc. announced today (May 4, 2017) a multi-year agreement for the Martha Stewart brand. Under the new agreement, QVC will launch several categories for the brand including skincare, fashion apparel, and food and beverage.

“Our brand has always been devoted to teaching and inspiring people to live more beautiful, more functional and more meaningful lives and our products provide solutions to do just that,” said Martha Stewart. “I am thrilled to partner with QVC, which offers unique opportunities to engage directly with an even broader audience, bringing to life several new categories for the Martha brand including beauty and fashion.

The new collaboration, which is expected to launch in the second half of this year, will feature frequent appearances on QVC by Martha Stewart and a team of Martha’s favorite experts as they showcase new and exciting products and share tips on how to incorporate them into everyday living.

“QVC at its core is about the joy of discovery and the power of relationships, and few do a better job of connecting with fans and inspiring them to embrace new ideas than Martha Stewart,” said Mike George, QVC President and CEO.  “QVC combines the best of retail, media and social to create the most engaging shopping experience, and to collaborate with a brand such as Martha’s further emphasizes our commitment to excellence and innovation. By leveraging the power of this relationship, QVC, which is among the nation’s top mobile and eCommerce retailers, brings to our customers Martha’s passion and expertise in a special and exciting new way.”

Sequential Brands Group CEO, Karen Murray, added “QVC’s proven differentiated retail experience plays perfectly with the strength of the Martha Stewart brand.  We are excited by this opportunity as it provides the brand with a new channel of distribution and further expansion into untapped categories where we see strong sales potential.”

Martha Stewart is an Emmy Award-winning television show host, entrepreneur, bestselling author of 88 books, and America’s most trusted lifestyle expert and teacher. Millions of people rely on Martha Stewart as a source of useful “how-to” information for all aspects of everyday living – cooking, entertaining, gardening, home renovating, collecting, organizing, crafting, holidays, healthy living and pets. Currently, the Martha Stewart brand reaches approximately 100 million consumers across all media and merchandising platforms each month.

About Sequential Brands Group, Inc.
Sequential Brands Group, Inc. (Nasdaq:SQBG) owns, promotes, markets, and licenses a portfolio of consumer brands in the fashion, active, and home categories, which includes the Martha Stewart media and merchandising properties. Sequential seeks to ensure that its brands continue to thrive and grow by employing strong brand management, design and marketing teams. Sequential has licensed and intends to license its brands in a variety of consumer categories to retailers, wholesalers and distributors in the United States and around the world. For more information, please visit Sequential’s website at: www.sequentialbrandsgroup.com. To inquire about licensing opportunities, please email: newbusiness@sbg-ny.com.

About QVC
QVC combines the best of retail, media and social to create the most engaging shopping experience, one that exceeds the expectations of everyone we touch by delivering the joy of discovery through the power of relationships.  Every day, in nine countries and counting, QVC engages millions of shoppers in a journey of discovery through an ever-changing collection of familiar brands and fresh new products, from home and fashion to beauty, electronics and jewelry. Along the way, we connect with shoppers via live dialog, engaging stories, interesting personalities and award-winning customer service. Based in West Chester, Pa. and founded in 1986, QVC has more than 17,000 employees and has retail operations in the U.S., Japan, Germany, United Kingdom, Italy, France, and through a joint venture in China. Worldwide, QVC engages shoppers via 15 TV channels reaching more than 360 million homes, seven websites, and 195 social pages. Visit corporate.qvc.com to learn more.

QVC is a wholly owned subsidiary of Liberty Interactive Corporation and is attributed to the QVC Group tracking stock (NASDAQ: QVCA, QVCB). Liberty’s QVC Group also includes zulily, a digital retailer obsessed with bringing customers special finds every day at incredible prices. zulily has been a wholly-owned subsidiary of Liberty Interactive Corporation since October 2015. zulily features an ever-changing, always delightful collection of clothing, home décor, toys, gifts and more–for the whole family. Unique products from up-and-coming brands are featured alongside favorites from top brands, giving customers something new to discover each morning. Launched in 2010, zulily is headquartered in Seattle. Among mass merchants, the combined QVC Group (including QVC and zulily) is the #3 mobile retailer in the U.S., the #8 mobile retailer globally, and the #4 ecommerce player in North America, according to Internet Retailer. QVC, Q, and the Q Ribbon Logo are registered service marks of ER Marks, Inc. For more information on Liberty Interactive Corporation, visit www.libertyinteractive.com.

SOURCE: Sequential Brands Group

Media Contacts:

Sequential Brands Group
Jaime Cassavechia
212-518-4771 x108
jcassavechia@sbg-ny.com

QVC
Jane Crawford
484-701-1506
Jane.Crawford@qvc.com

Investor Relations:

Sequential Brands Group
Katherine Nash
512-757-2566
knash@sbg-ny.com

Liberty Interactive Corporation
Courtnee Chun, 720-875-5420
Courtnee@libertymedia.com

News Provided by Acquire Media

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Creativity, Sustainability, and Innovating Luxury With LVMH and Central Saint Martins Partnership

Creativity, Sustainability, and Innovating Luxury With LVMH and Central Saint Martins Partnership

 

Paris, 2017-May-08 — /EPR Retail News/ — On May 4, 2017 LVMH and Central Saint Martins announced a groundbreaking new partnership to promote creativity and identify cutting-edge solutions to drive  sustainability and innovation in luxury. Under the banner LVMH & Central Saint Martins “Sustainability & Innovation in Luxury | Fostering Creativity”, this new program is inspired by a shared desire to address the  many challenges facing the luxury industry.

After many years of academic and creative collaboration, LVMH is taking its relationship with Central Saint Martins to a new level in 2017, creating a new program with the renowned art and design school. The partnership will promote creativity, nurture young talents and identify disruptive solutions to address sustainable development and innovation in luxury. “We are very pleased to launch today such an inspiring program on sustainable innovation in luxury, fueled by our numerous and successful past collaborations and creative projects with Central Saint Martins,” said Chantal Gaemperle, Group Executive Vice President Human Resources and Synergies.

The inauguration of the LVMH & Central Saint Martins “Sustainability & Innovation in Luxury | Fostering Creativity” program on May 4th was marked by a full agenda of events at the London campus focused on students and their careers. Throughout the day students had a chance to learn more about LVMH and meet creative, business and human resources teams from 14 Maisons (Louis Vuitton, Christian Dior Couture, J.W Anderson, Céline, Emilio Pucci, Givenchy, Kenzo, Loewe, Loro Piana, Nicholas Kirkwood, Glenmorangie, Bulgari, Chaumet and Sephora). They discovered career opportunities and presented their portfolios. In addition to interviews for internships or job offers they attended workshops to give them a better understanding of the diverse universes at LVMH and its Maisons.

These meetings were followed by the introduction of Carole Collet, the new CSM LVMH Director of Sustainable Innovation, who will lead the collaboration between LVMH and CSM, developing a curriculum to embed sustainable innovation across disciplines and create ambitious projects with LVMH Maisons.

A round table discussed the vision for the future partnership with panelists including Toni Belloni, LVMH Group Managing Director, Chantal Gaemperle, LVMH EVP Human Resources and Synergies, Anne Smith, Dean of Academic Programs CSM and Carole Collet, the new program director. The panel moderator, Professor Jeremy Till, Head of CSM and Pro Vice-Chancellor UAL, said:  “Launching the new CSM LVMH partnership with an opportunity for students and Maisons to meet, is bound to result in some creative conversations and collisions around sustainable innovation in luxury.”

Four pillars of the LVMH & Central Saint Martins “Sustainability & Innovation in Luxury | Fostering Creativity” program:

– “Sustainability & Innovation” research fund and academic program;
– LVMH Grand Prix Scholarship  (five scholarships for talented students);
– Joint projects between LVMH Maisons and students / graduates;
– Recruitment and campus events.

Contact:

LVMH Moët Hennessy – Louis Vuitton
22, avenue Montaigne, 75008 Paris – France
Tel: +33 (0)1 44 13 22 22
Fax: +33 (0)1 44 13 22 23

Source: LVMH

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Lowe’s And Habitat for Humanity Empower Women With Construction Skills

Lowe’s And Habitat for Humanity Empower Women With Construction Skills

 

ATLANTA, 2017-May-08 — /EPR Retail News/ — More than 17,000 women volunteers will come together starting Saturday in their local communities to help build or improve affordable homes alongside future homeowners as part of Habitat for Humanity and Lowe’s 10th annual National Women Build Week. With the help of Lowe’s Heroes volunteers, they will build or improve 600 Habitat homes in nearly 50 states in just one week.

Lowe’s helped launch National Women Build Week in 2008 to empower women with construction skills and give them a platform to tackle affordable homeownership in their communities.

“It’s very inspiring to see 17,000 strong, empowered women join together to work with families who are building toward better futures,” said Lisa Marie Nickerson, associate director of Habitat for Humanity’s Women Build program. “With Lowe’s support, the event continues to grow, and I’m proud to say that female construction crews have helped build nearly 3,800 Habitat homes in the past nine years. It just goes to show that no task is too big when we tackle it together.”

One of those construction volunteers is future Habitat homeowner Marisol Santos of Randolph, New Jersey. Santos will join her local crew to help build a home alongside a future Habitat homeowner. She is also working toward building her own Habitat home, which will be handicap-accessible to help her son get around in his wheelchair.

“Finally, we will have a wheelchair-accessible home, which will help my son easily move around the house and make him feel more comfortable,” Santos said. “My son is overwhelmed with joy because he knows it will make our lives much easier.”

Each year, Lowe’s provides the support of its Lowe’s Heroes volunteers, who conduct how-to clinics in stores to teach community volunteers home improvement skills. Since first launching the annual event, Lowe’s has committed more than $15 million in support of Habitat’s National Women Build Week and helped more than 3,800 Habitat families improve their living conditions.

Brooke Reed of Stillwater, Oklahoma is one of those homeowners who now reflects back to how instrumental National Women Build Week was to establishing a strong foundation for her family. In 2012, she helped raise the walls on her Habitat home as part of the week. She moved out of a trailer park and into her home later that year. Reed said owning a Habitat home has given her the opportunity to build her credit, save money and create a better life for her and her children.

“As women, it’s important to support and empower each other in all facets of life including home ownership and maintenance,” said Jocelyn Wong, chief marketing officer at Lowe’s and National Women Build Week advocate. “National Women Build Week offers an opportunity for women to come together, learn construction skills, and make a positive impact in the lives of others in their communities. We hope that many more women will join Lowe’s and Habitat as we continue to help families realize their dream of home ownership.”

In celebration of the 10th annual event of National Women Build Week and reaching the milestone of engaging 100,000 volunteers, Lowe’s and Habitat for Humanity of Charlotte are hosting a kickoff event on May 5. Women leaders and executives in the Charlotte area will join together, put their building skills to the test and inspire other women to make a meaningful impact in their community.

For more information on Habitat for Humanity’s Women Build program, and to learn about Women Build projects in communities across the U.S., visit www.habitat.org/wb.

About Habitat for Humanity
Driven by the vision that everyone needs a decent place to live, Habitat for Humanity began in 1976 as a grassroots effort on a community farm in southern Georgia. The Christian housing organization has since grown to become a leading global nonprofit working in more than 1,300 communities throughout the U.S. and in nearly 70 countries. Families and individuals in need of a hand up partner with Habitat for Humanity to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage. Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. Through shelter, we empower. To learn more, visit habitat.org

About Lowe’s in the Community
Lowe’s, a FORTUNE® 50 home improvement company, has a 60-year legacy of supporting the communities it serves through programs that focus on K-12 public education and community improvement projects. In the past decade, Lowe’s and the Lowe’s Charitable and Educational Foundation together have contributed nearly $300 million to these efforts, and for more than two decades Lowe’s Heroes volunteers have donated their time to make our communities better places to live. For the latest news, visit Newsroom.Lowes.com or follow @LowesMedia on Twitter.

Media Inquiries:

704-758-2917
mail to: PublicRelations@Lowes.com

Source: Lowes

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Fair Trade Certified Scallops Now Available in Albertsons Companies

Fair Trade Certified Scallops Now Available in Albertsons Companies

 

Santa Monica Seafood® Signature Sea Scallops available at Albertsons, Vons and Pavilions stores in Southern California and coming soon to Safeway in Northern California

BOISE, Idaho, 2017-May-08 — /EPR Retail News/ — Albertsons Companies today (May 4th, 2017) announced that it has expanded its Fair Trade Certified™ seafood program and its commitment to responsible sourcing by becoming the first major grocer to carry Fair Trade Certified™ scallops.

The Fair Trade Certified™ program addresses the social and environmental needs of fishing communities across the globe by protecting fundamental human rights of workers, preventing forced and child labor, establishing safe working conditions, regulating work hours and benefits, and enabling responsible, sustainable resource management.

“Albertsons Companies takes our commitment to socially and environmentally responsible seafood seriously,” said Buster Houston, Group Director of Seafood at Albertsons Companies. “By providing Fair Trade Certified™ seafood, we are able to support the domestic industry, provide our customers with the highest quality product, and support the health of ocean ecosystems and communities that depend upon them.”

The new product, Santa Monica Seafood® Signature Sea Scallops, is sourced from the Port of New Bedford, Massachusetts, an iconic fishing village with a rich history of American seafood production. These large scallops are not only responsibly sourced, but are also recognized worldwide as having unparalleled texture and flavor. Santa Monica Seafood® Signature Sea Scallops are available at Albertsons, Vons and Pavilions stores in Southern California and will be available at Safeway stores in Northern California this summer.

Like all Fair Trade Certified™ products, producers of Santa Monica Seafood’s scallops receive a Community Development Premium — 10 percent of the dockside price — which they can collectively invest in much-needed community projects. According to David Ferreira, the Secretary of The Northwest Atlantic Sea Scallop Fisheries (NWASSF), “The premium received by NWASSF will augment the scallop fisheries advocacy group Fisherman Survival Fund and promote industry research partners UMass Dartmouth’s School for Marine Science & Technology and Coonamessett Farm.”

This new product continues Albertsons Companies’ tradition of leadership in sourcing socially and environmentally responsible seafood. In 2015, Albertsons Companies became the world’s first retailer to sell Fair Trade Certified™ seafood, with the introduction of Fair Trade yellowfin tuna from Indonesia. In addition to meeting rigorous social standards, the Fair Trade Certified™ seafood products in Albertsons Companies stores also meet the high environmental bar set by its Responsible Seafood Policy in partnership with FishWise. Albertsons Companies pioneered the Responsible Choice program whereby seafood products marked “Responsible Choice” are favorably rated by the Monterey Bay Aquarium’s Seafood Watch program, or are sourced from fisheries or farms making measurable and time-bound improvements.

About Albertsons Companies

Albertsons Companies is one of the largest food and drug retailers in the United States, with both a strong local presence and national scale. We operate stores across 35 states and the District of Columbia under 19 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen and Carrs. Albertsons Companies is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. In 2016 alone, along with the Albertsons Companies Foundation, the company gave nearly $300 million in food and financial support. These efforts helped millions of people in the areas of hunger relief, education, cancer research and treatment, programs for people with disabilities and veterans outreach.

About FishWise

FishWise is a non-profit sustainable seafood consultancy based in Santa Cruz, CA. Uniquely positioned between the seafood industry and marine conservation organizations, FishWise offers a range of services that create trust between seafood vendors and their customers, enabling businesses to sell more sustainable seafood, more profitably. For more information, please visit http://www.fishwise.org.

Media Contacts::

Albertsons Companies:
Teena Massingill
Director of Corporate Public Affairs
Email: teena.massingill@albertsons.com
Phone: (925) 226-5820

FishWise:
Chase Martin
Communications Project Manager
Email: c.martin@fishwise.org
Phone: (831) 427-1707 ext. 132

Source: Albertsons Companies

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Make Every Moment Special With Marks & Spencer

London, 2017-May-08 — /EPR Retail News/ — Marks & Spencer today (04 May 2017) returns to the nation’s TV screens as it launches its new brand proposition: ‘Spend it Well’. More than just a tagline, ‘Spend it Well’ is a call to action – designed to inspire and enable people to make every moment special by focusing on the quality experiences, people and things that really matter.

The ‘Spend it Well’ campaign is the first time M&S has united both its food and clothing divisions under a single tagline and philosophy.  The line will sit across all digital channels, in-store and all M&S marketing communications moving forward, including M&S Bank and its rewards club, Sparks.

‘Spend it Well’ is based on the insight that, in a world of abundance, people increasingly seek out what is important: the quality experiences, people and things that make life special.  M&S exists to help its customers make the most out of every moment, every minute, and every mouthful.  ‘Spend it Well’ is about grabbing life, burning the nice candles, wearing your best coat, breaking out the best biscuits, saying no to food that doesn’t take you to extraordinary places and, yes, never settling for uncomfortable knickers.

In a social media and mobile-first launch, and as a literal wake-up call to the nation, the 60-second ‘Spend it Well’ ad will premiere today here, Thursday 4 May, at 12.01am alongside Twitter and 6am on Facebook. It will also run throughout ITV’s Good Morning Britain from 6.00 – 8.30am.

The bold ad takes customers on a journey from cradle to graceful (or not-so-graceful) empowerment, reminding every individual and every generation that life is short, so spend it well. A series of uplifting vignettes featuring women of all ages celebrate the power of everyday choices. These choices range from the practical to the emotional, with viewers urged to say no to regrets and no to comparing yourself to others.

The launch of this campaign introduces an inspirational tone of voice for the brand, and focuses on attitude and empowerment.  It represents a commitment to putting the customer at the heart of everything it does – positioning M&S as an enabler of a life well-lived – and includes a significant focus on customer experience, on and offline.

The new advertising campaign is the first from Valenstein & Fatt (the creative agency formerly known as Grey London). The ad was directed by François Rousselet through Riff Raff Films, narrated by award-winning British actor Helen McCrory and, fittingly, set against a new arrangement of David Bowie’s classic Rebel Rebel.

Patrick Bousquet-Chavanne, Executive Director of Customer, Marketing & M&S.com said: “Our ‘Spend it Well’ campaign is a radical departure from where we’ve been previously. It speaks to deep truths about our customers – based on a huge amount of research and listening – and celebrates their lives in a way which is new and innovative for the brand. To remain relevant and attract new customers, we need to get people thinking differently about M&S and recapture our position as a pioneer in culture.

“That’s why the energy, swagger and spirit of ‘Spend it Well’ is so important – it’s about empowering our customers to say no to the ordinary, so they can say yes to the best.  We’re committed to helping our customers embrace this attitude by creating and curating the world’s finest, freshest and most inspiring food, by understanding what clothing fits and flatters today’s modern woman, and by ensuring this philosophy is applied across the entire customer experience.”

Vicki Maguire, Chief Creative Officer, Valenstein & Fatt, said: “More than just a retailer, M&S is a brand that touches almost all of the population – over 60 million pairs of women’s knickers are sold every year. ‘Spend it Well’ is an attitude they share with their customer – and I should know. I’ve been their biggest fan and biggest critic for years. It’s a shared attitude that strikes a chord whether you’re 18 or 80.  And M&S has taken this to heart, across products, services, innovation, marketing and culture. For me, it’s the excuse I need to wear the nice knickers or crack open the good wine –  I’m a firm believer in life’s short, so spend it well. I can’t tell you how excited I am to help bring this to life.”

The ad is part of an integrated campaign including TV, social, digital, press, outdoor, radio and in-store activation.  A new, bespoke TV ad for Food will launch on 11 May, with targeted executions for Clothing, Home, Bank and Sparks following later in the year.

Notes to Editors
‘Spend it Well’ was created by Valenstein & Fatt
Media agency: Mindshare

For further information, please contact Grayling:

Susan Hutchinson: 07740 155619 / 020 3861 3814
Libby Rowley: 07902 679 121 / 020 3861 3866
Suzannah Brown: 07850 532 600 / 020 3861 3876
M&SbrandPR@grayling.com

Source:  M&S

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Meet The New Managing Director For Marks And Spencer’s Clothing, Home & Beauty.

LONDON, 2017-May-08 — /EPR Retail News/ — Marks & Spencer announces that Jill McDonald, currently CEO at Halfords, has been appointed to the new role of Managing Director, Clothing, Home & Beauty. Jill’s role will have overall profit and loss accountability for all aspects of the M&S non-Food business, from design and sourcing through to supply chain and logistics, and will report directly in to  M&S’s CEO, Steve Rowe.

Jill will join M&S in the autumn, on a date to be confirmed, and will be part of the M&S Operating Committee, the team accountable for the day-to-day running of the business and the development and execution of strategy.

As a result of this appointment, M&S is also announcing a change of responsibility for CEO Steve Rowe, who will relinquish his Clothing, Home & Beauty accountabilities to Jill on her arrival, and for CFO Helen Weir, who will hand over responsibility for the Clothing, Home & Beauty Supply Chain & Logistics.

Steve Rowe, M&S CEO, said: “I am pleased with the progress we have made in Clothing & Home over the last year and the time is now right for this appointment.

“Jill is an excellent addition to the M&S senior leadership team and we are delighted that she is joining us. Jill’s first-class customer knowledge and great experience in running dynamic, high achieving teams make her exactly the right person to lead this all-important part of our business from recovery in to growth.”

Jill McDonald said: “M&S has a unique, special relationship with its customers and I am very motivated by working closely with customers to drive and shape results. I have long been an M&S customer and professional fan, so working with the brand was a career opportunity that I just couldn’t turn down. I am looking forward to joining Steve and the team later this year to build on the plans that are already underway.”

M&S also announces today that, on Jill’s arrival, Jo Jenkins will move to the new role of Clothing & Beauty Director, reporting into Jill, and with expanded accountabilities for all clothing across womenswear, menswear and kidswear.

Marks & Spencer makes this announcement in accordance with LR9.6.11R(3)&(4).

For further information, please contact:

M&S Corporate Press Office
0208 718 1919

Source: M&S

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BRC Publishes Recommendations For Next Government That Promotes Interests of Retail Industry Consumers

London, 2017-May-08 — /EPR Retail News/ — The British Retail Consortium (BRC) has today (May 04, 2017) published its recommendations for the next Government. ‘Pioneers’ sets out the retail industry’s vision for a plan that promotes the interests of consumers in the Brexit negotiations and supports a pioneering, responsible and vibrant industry for the future.

HELEN DICKINSON OBE, CHIEF EXECUTIVE OF THE BRC SAID:

“The retail industry will want to see plans from the next Government that puts consumers first in the Brexit negotiations, by ensuring that ordinary shoppers are protected from the cost of unwanted new tariffs. Our recent work on UK trade imports, spelled out the cost to consumers’ food bills of leaving without a deal and falling back on WTO rules. Helping retailers to keep prices low for consumers also means negotiating frictionless customs arrangements; providing certainty for EU colleagues working in the UK; and securing the continuity of existing EU legislation as it transfers to the UK.

“The challenges we face as we negotiate our future relationship with Europe makes it essential for policy makers to understand the rapid change and testing conditions that retail must operate in. Policies that support economic growth and a business tax environment fit for purpose in the 21st century, is what’s needed from the next Government to support retail in its mission to drive productivity with better jobs, innovation and investment to improve the communities they serve.”

BRC’S RECOMMENDATIONS FOR THE NEXT GOVERNMENT:

FOR A FAIR BREXIT FOR CONSUMERS:

  • Put consumers first in the Brexit negotiations, ensuring that ordinary shoppers are protected from the cost of unwanted new tariffs.
  • Secure a transitional arrangement that recognises all goods in free circulation, thereby avoiding a cliff edge scenario.
  • Provide assurances to the retail industry’s EU workforce.
  • Transfer existing EU regulation into UK law to help provide certainty and continuity.

FOR A PIONEERING ECONOMY IN A CHANGING WORLD:

  • Build a business tax environment fit for purpose in the 21st century.
  • Accelerate investment in digital infrastructure and enable businesses to build the required skills faster.
  • Empower business responsibility and corporate governance.

Contact:
BRC Press Office
TELEPHONE: + 44 (0) 20 7854 8924
EMAIL: media@brc.org.uk
OUT OF HOURS: +44 (0) 7557 747 269

Source: BRC

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Change in Sight After Four Years of Falling Shop Prices

London, 2017-May-08 — /EPR Retail News/ —

Period Covered: 03- 07 April 2017

  • Overall shop prices reported deflation of 0.5% in April from the 0.8% fall in March. This is the shallowest deflation rate since November 2013.
  • Non-food deflation decelerated to 1.4% from the 2.0% decline in March. This is the shallowest deflation rate since April 2013.
  • Food inflation decelerated to 0.9% from the 1.0% rise in March.
  • Fresh Food reported inflation of 1.0% in April from the 0.9% rise in the previously month.
  • Ambient Food inflation decelerated to 0.8% in April from the 1.3% rise in March.

HELEN DICKINSON OBE, CHIEF EXECUTIVE, BRITISH RETAIL CONSORTIUM:

“This month’s figures mark the four-year anniversary of falling shop prices as competition in the industry continues to keep a lid on prices for consumers. Nevertheless, the rate of deflation has been decelerating month-on month as retailers battle with inflationary pressures resulting from the impact of the weaker pound on input prices.

“Non- food categories were the biggest contributor to the easing of overall deflation this month, recording the shallowest rate since April 2013. Meanwhile, food inflation paused and remains at around one per cent. This is actually relatively low in the in the face of input costs that are rising much faster.

“Prices are undoubtedly on an upward trajectory, which we expect to gradually play out over the course of the year. With the squeeze on household incomes tightening, the retail industry expects plans from the next Government that puts consumers first in the Brexit negotiations, ensuring that ordinary shoppers are protected from the cost of unwanted new tariffs.”

MIKE WATKINS, HEAD OF RETAILER AND BUSINESS INSIGHT, NIELSEN:

“Shoppers are seeing inflation in travel, fuel and when spending away from home, so retailers are cautious about passing on cost price increases. So there continues to be deflation in shop prices albeit we are already seeing inflation in food. In the non-food channel and with a late Easter there was a need to stimulate demand and clear stock in readiness for summer ranges, and seasonal promotions also kept prices low as retailers looked to increase footfall and maintain consumer spend.”

BRC Members and Subscribers an view the full report here

Contact:
BRC Press Office
TELEPHONE: + 44 (0) 20 7854 8924
EMAIL: media@brc.org.uk
OUT OF HOURS: +44 (0) 7557 747 269

Source: BRC

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BRC And Other Trade Bodies Request For Fundamental Reform of Business Rates System

London, 2017-May-08 — /EPR Retail News/ — The BRC, along with a number of other trade bodies, are co-signatories to a letter sent to the three political parties to make the case for fundamental reform of the business rates system.

The challenges businesses face as the UK negotiates its future relationship with Europe has made reducing the burden of business rates and fundamentally reforming the system even more critical. How the next Government decides to address the complexity and unfairness of the existing system is therefore a key question for businesses.

Fundamentally this means three things for the next Government:

  • Look across the business taxation system to ensure fairness, and inventivise growth and investment.
  • Increase the frequency of revaluations beginning in 2020 alongside a straightforward valuation process.
  • Move business rates to CPI indexation beginning in 2018, with a flat rate beginning in 2020.

Signatories:

British Retail Consortium
British Chambers of Commerce
Federation of Small Businesses
Assoc. of Licensed Multiple Retailers
British Property Federation
British Beer and Pub Association
Association of Convenience Stores
Revo

Contact:
BRC Press Office
TELEPHONE: + 44 (0) 20 7854 8924
EMAIL: media@brc.org.uk
OUT OF HOURS: +44 (0) 7557 747 269

Source: BRC

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House Action To Repeal Obamacare Welcomed By Retailers

WASHINGTON, 2017-May-08 — /EPR Retail News/ — The National Retail Federation today (May 4, 2017) applauded the House for passing the American Health Care Act, legislation that would repeal the Affordable Care Act.

“Nothing in health care is ever easy or simple, but the House has shown its commitment to closing the book on Obamacare,” NRF Senior Vice President for Government Relations David French said.  “The American Health Care Act is not perfect, but if we are going to get to a health care system that works without mandates and stifling regulation, the process has to start somewhere. This bill is an important milestone on that journey.”

On Wednesday, NRF sent a letter to House leadership urging lawmakers to take advantage of a “real opportunity” to repeal the ACA rather than continue to debate details of the bill and risk failing to move forward.

Like its predecessor, the revised version of the American Health Care Act passed by the House today would use budget reconciliation procedures to repeal key parts of the 2010 Affordable Care Act. That means the legislation could be passed by the Senate with only 51 votes rather than the 60 normally required to overcome an expected filibuster, but also limits the repeal to provisions of the ACA that have a revenue impact. NRF nonetheless believes that the bill would achieve substantial change.

An earlier version of the bill was scheduled for a vote in March but action was delayed because conservative House members wanted a more complete repeal of the ACA.

Among other actions supported by NRF, the legislation would effectively repeal the ACA’s employer mandate that businesses provide health insurance to full-time workers. While budget reconciliation does not allow the mandate to be repealed outright, the bill would reduce the penalties for non-compliance to zero.

The legislation would also delay the so-called Cadillac Tax on high-value health plans until 2026, and would repeal its health insurance tax, medical device tax and pharmaceutical tax permanently. It would also increase flexibility for health savings accounts and would take a substantial first step toward Medicaid reform.

NRF opposed passage of Obamacare and has sought its repeal, while working with Congress to mitigate the impact of its most onerous provisions. Rather than lowering costs, the controversial law emphasizes mandates that have driven up health insurance expenses for both employers and employees.

NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.

Contact:
Robin Roberts
press@nrf.com
(855) NRF-Press

Source: NRF

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Yoox Net-A-Porter Group’ 2017 First Quarter Trading Statement Presentation Released To The Public

Milan, Italy, 2017-May-08 — /EPR Retail News/ — YOOX NET-A-PORTER GROUP S.p.A. (MTA: YNAP), the world’s leading online luxury fashion retailer, hereby informs that YNAP’s 2017 First Quarter Trading Statement Prsentation is available to the public on the Company’s website at www.ynap.com (Investor Relations Section / Results Centre / Presentations) at www.ynap.com/pages/investor-relations/results-centre/presentation/2017.

YOOX NET-A-PORTER GROUP

YOOX NET-A-PORTER GROUP is the world’s leading online luxury fashion retailer. The Group is a Global company with Anglo-Italian roots, the result of a game-changing merger, which in October 2015, brought together YOOX GROUP and THE NET -A-PORTER GROUP; the two companies had revolutionized the luxury fashion industry since their birth in 2000.

YOOX NET-A-PORTER GROUP is a unique business with an unrivalled offering including multi-brand in-season online stores NET-A-PORTER and MR PORTER, and multi-brand off-season online stores YOOX and THE OUTNET, as well as numerous ONLINE FLAGSHIP STORES, all “Powered by YNAP”. Through a joint venture established in 2012, YOOX NET -APORTER GROUP has partnered with Kering to manage the ONLINE FLAGSHIP STORES of several of the French group’s luxury brands.

In 2016, YOOX NET-A-PORTER GROUP joined forces with Symphony, an entity controlled by Mohamed Alabbar’s family, to establish a ground-breaking joint venture to create the Middle East’s undisputed leader for online luxury retail.

Uniquely positioned in the high growth online luxury sector, YOOX NET-A-PORTER GROUP has an unrivalled client base of more than 2.9 million high-spending customers, 29 million monthly unique visitors worldwide and combined 2016 net revenues of €1.9 billion. The Group has offices and operations in the United States, Europe, Japan, China and Hong Kong and delivers to more than 180 countries around the world. YOOX NET-A-PORTER GROUP is listed on the Milan Stock Exchange as YNAP.

For further information: www.ynap.com.

Analyst/Investor contacts:
Silvia Scagnelli
Corporate Development & Investor Relations Director
T: +39 02 83112811
investor.relations@ynap.com

Media contacts:
Finsbury Edward Simpkins, James Thompson, Benita Barretto
T: +44 (0) 207 251 3801
ynap@finsbury.com

Image Building
Giuliana Paoletti, Simona Raffaelli
T +39 02 89011300 ynap@imagebuilding.it

Source: YOOX NET-A-PORTER GROUP

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SIRCA Funding To Develop New Way To Clean Up Soil at Former Gas Stations

Saskatoon, SK, 2017-May-08 — /EPR Retail News/ — Funding announced this week will help SIRCA partners develop and test a new way to clean up the soil at former gas stations.

Biowaste from a cattle processing plant is being converted into a water-based, nutrient-rich material to be injected into the ground to aid in the digestion of petroleum hydrocarbons by soil-based organisms. The project is a collaboration between the University of Saskatchewan (U of S), Northern Alberta Institute of Technology (NAIT), Federated Co-operatives Limited (FCL) and UFA, all members of the Sustainable In-Situ Remediation Co-operative Alliance (SIRCA).

“We’re developing new phosphorous-rich materials to help bacteria and fungi in the ground consume hydrocarbon pollutants,” U of S soil scientist Derek Peak. “These materials will enable us to treat contaminated soil right at the site rather than excavating the soil to process it. This could cut remediation costs in half.”

The Natural Sciences and Engineering Research Council (NSERC) will provide $750,000 over three years through its College-University Idea to Innovation (CU-I2I) grant, which aims to develop and apply research and technology between colleges, universities and businesses. FCL and UFA are jointly providing an additional $75,000 cash and $337,500 in-kind contribution.

“Through SIRCA, we’re able to take innovative technologies from concept to reality, from the lab to real-world application,” said Vic Huard, Executive Vice-President of Strategy at Federated Co-operatives Limited. “Not only are we building sustainable solutions to lessen our impact on the environment and improve our communities, we are sharing this knowledge in the spirit of co-operation.”

The partners will make new compounds at NAIT, evaluate them at U of S laboratories and the Canadian Light Source synchrotron, and then pilot-test the soil additives at two sites in Stony Plain, Alta.

“Remedial approaches have real and measurable sustainability benefits over traditional excavation-based approaches,” said Kris Bradshaw, FCL’s Impacted Sites Manager. “This research will ultimately help us and others manage the vast array of impacted sites in Canada and around the world.”

The innovative project will also create a training partnership program between the U of S and NAIT: two U of S PhD students will serve as mentors to NAIT students and U of S students will have the opportunity to work with highly specialized tools at NAIT.

SIRCA was formed in 2014 to bring together researchers, co-operatives and industry to advance research activities and remediation technologies. Previous funding of $1 million from NSERC and $1 million from FCL established an industrial research chair at the U of S in 2015 in support of SIRCA research. More information on the SIRCA initiative is available at www.sirca.coop.

Contact:
PHONE: 306.244.3311
FAX: 306.244.3403
GENERAL INQUIRIES: inquiries@fcl.ca
GENERAL CAREER INQUIRIES: careers@fcl.ca

Source: Co-op

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Sequential Brands Group Starts Year Strong With First Quarter 2017 Results

Company Announces New Multi-Year Agreement with QVC for Martha Stewart Brand

  • Q1 Revenue increased 16% to $39.4 million
     
  • Q1 GAAP diluted EPS of $(0.02); Q1 non-GAAP diluted EPS of $0.09
     
  • Q1 GAAP net loss of $(1.2) million; Q1 non-GAAP net income of $5.9 million
  • Q1 Adjusted EBITDA increased 38% to $23.0 million

NEW YORK, 2017-May-08 — /EPR Retail News/ — Sequential Brands Group, Inc. (“Sequential” or the “Company”) (Nasdaq:SQBG) today (May 04, 2017) announced financial results for the first quarter ended March 31, 2017.

First Quarter 2017 Results:
Total revenue for the first quarter ended March 31, 2017 increased 16% to $39.4 million, compared to $34.0 million in the prior year quarter.  On a GAAP basis, net loss for the first quarter 2017 was $(1.2) million or $(0.02) per diluted share compared to a net loss for the first quarter 2016 of $(1.1) million or $(0.02) per diluted share. Included in the first quarter 2017 was a charge of $(0.11) or $6.7 million related to costs associated with the departure of our former CEO. The charge included $3.2 million in severance expense and $3.5 million in non-cash stock-based compensation expense, which represents the accelerated vesting of previously granted stock awards, and was calculated based on the fair value on the stock’s grant date in April 2015 of $14.33 per share in accordance with GAAP. The fair value of the shares on the termination date was $3.95 per share, or approximately $1.1 million total.  Taking this and other small items into consideration, Non-GAAP income for the first quarter 2017 was $5.9 million, or $0.09 per diluted share, compared to $2.5 million, or $0.04 per diluted share, in the prior year period. Adjusted EBITDA (defined in the accompanying Non-GAAP Financial Measures) for the first quarter of 2017 was $23.0 million, compared to $16.7 million in the prior year quarter.  See Non-GAAP Financial Measure Reconciliation tables below for a reconciliation of GAAP to non-GAAP measures.

“We started the year off strong with solid results in the first quarter and several new organic growth initiatives underway,” said Karen Murray, CEO of Sequential Brands Group. “Going forward, our top priority is implementing new revenue initiatives across all of our brands, while maintaining a disciplined approach to expense management. At the same time, we are focused on taking the steps needed to improve our balance sheet.”

Financial Update:
For the year ending December 31, 2017, the Company is reiterating guidance of $170 million to $175 million in revenue and $98 million to $102 million of Adjusted EBITDA.  The Company’s GAAP net income is now expected to be $15.5 million to $18.1 million due to costs associated with the departure of the Company’s CEO as mentioned above.  The Company’s contractual guaranteed minimum royalties for 2017 are approximately $120 million.  Consistent with the Company’s historical quarterly results, the Company expects revenue for 2017 to be weighted to the third and fourth quarters due to seasonality in the businesses of many of the Company’s licensees.

Business Update:
This morning the Company announced a new multi-year agreement with QVC for the Martha Stewart brand. The partnership is expected to launch in the second half of this year and will include categories such as fashion apparel, skincare and food and beverage. The collaboration will also feature appearances on QVC by Martha Stewart and a select team of Martha’s lifestyle experts.

Investor Call and Webcast:
Management will provide further commentary today, May 4, 2017, on the Company’s financial results via a conference call and webcast beginning at approximately 8:30 am ET.  To join the conference call, please dial (877) 407-0789 or visit the investor relations page on the Company’s website www.sequentialbrandsgroup.com.

Non-GAAP Financial Measures:
This press release contains historical and projected measures of Adjusted EBITDA, non-GAAP net income and non-GAAP net income per diluted share.  The Company defines Adjusted EBITDA as net loss attributable to Sequential Brands Group, Inc. and Subsidiaries, excluding interest income or expense, income taxes, depreciation and amortization, acquisition-related costs, non-cash compensation, MSLO Shareholder and pre-acquisition litigation costs, restructuring costs and costs incurred in connection with CEO transition.  Non-GAAP net income and non-GAAP earnings per share are non-GAAP financial measures which represent net loss attributable to Sequential Brands Group, Inc. and Subsidiaries, excluding acquisition-related costs, non-cash mark-to-market adjustments to stock-based compensation provided to non-employees, restructuring costs, costs incurred in connection with CEO transition, MSLO Shareholder and pre-acquisition litigation costs and adjustment to taxes.  These non-GAAP metrics are an alternative to the information calculated under U.S. generally accepted accounting principles (“GAAP”), as provided in the reports the Company files with the Securities and Exchange Commission, may be inconsistent with similar measures presented by other companies and should only be used in conjunction with the Company’s results reported according to GAAP.  Any financial measure other than those prepared in accordance with GAAP should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.  We consider these measures to be useful measures of our ongoing financial performance because they adjust for certain costs and other events that the Company believes are not representative of its ongoing business.  See below for a reconciliation of these non-GAAP metrics from the most directly comparable GAAP measure.

About Sequential Brands Group, Inc.

Sequential Brands Group, Inc. (Nasdaq:SQBG) owns, promotes, markets, and licenses a portfolio of consumer brands in the home, active and fashion categories.  Sequential seeks to ensure that its brands continue to thrive and grow by employing strong brand management, design and marketing teams.  Sequential has licensed and intends to license its brands in a variety of consumer categories to retailers, wholesalers and distributors in the United States and around the world.  For more information, please visit Sequential’s website at: www.sequentialbrandsgroup.com.  To inquire about licensing opportunities, please email: newbusiness@sbg-ny.com.

Forward-Looking Statements
Certain statements in this press release and oral statements made from time to time by representatives of the Company are forward-looking statements (“forward-looking statements”) within the meaning of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements are made as of the date hereof and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. The Company’s actual results could differ materially from those stated or implied in forward-looking statements. Forward-looking statements include statements concerning estimates of GAAP net income, Adjusted EBITDA, revenue (including guaranteed minimum royalties), and margins, guidance, plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, performance or products, underlying assumptions and other statements that are not historical in nature, including those that include the words “subject to,” “believes,” “anticipates,” “plans,” “expects,” “intends,” “estimates,” “forecasts,” “projects,” “aims,” “targets,” “may,” “will,” “should,” “can,” “future,” “seek,” “could,” “predict,” the negatives thereof, variations thereon and similar expressions.  Such forward-looking statements reflect the Company’s current views with respect to future events, based on what the Company believes are reasonable assumptions. Whether actual results will conform to expectations and predictions is subject to known and unknown risks and uncertainties, including: (i) risks and uncertainties discussed in the reports that the Company has filed with the Securities and Exchange Commission (the  “SEC”); (ii) general economic, market or business conditions; (iii) the Company’s ability to identify suitable targets for acquisitions and to obtain financing for such acquisitions on commercially reasonable terms; (iv) the Company’s ability to timely achieve the anticipated results of recent acquisitions and any potential future acquisitions; (v) the Company’s ability to successfully integrate acquisitions into its ongoing business; (vi) the potential impact of the consummation of recent acquisitions or any potential future acquisitions on the Company’s relationships, including with employees, licensees, customers and competitors; (vii) the Company’s ability to achieve and/or manage growth and to meet target metrics associated with such growth; (viii) the Company’s ability to successfully attract new brands and to identify suitable licensees for its existing and newly acquired brands; (ix) the Company’s substantial level of indebtedness, including the possibility that such indebtedness and related restrictive covenants may adversely affect the Company’s future cash flows, results of operations and financial condition and decrease its operating flexibility; (x) the Company’s ability to achieve its guidance; (xi) continued market acceptance of the Company’s brands; (xii) changes in the Company’s competitive position or competitive actions by other companies; (xiii) licensees’ ability to fulfill their financial obligations to the Company; (xiv) concentrations of the Company’s licensing revenues with a limited number of licensees and retail partners; and (xv) other circumstances beyond the Company’s control.  Refer to the section entitled “Risk Factors” set forth in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q for a discussion of important risks, uncertainties and other factors that may affect the Company’s business, results of operations and financial condition.  The Company’s stockholders are urged to consider such risks, uncertainties and factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at or by which any such performance or results will be achieved.  As a result, actual outcomes and results may differ materially from those expressed in forward-looking statements.  The Company is not under any obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.  Readers should understand that it is not possible to predict or identify all risks and uncertainties to which the Company may be subject.  Consequently, readers should not consider such disclosures to be a complete discussion of all potential risks or uncertainties.

For media inquiries, contact:
Jaime Cassavechia
T:  +1 212-518-4771 x108
E:  jcassavechia@sbg-ny.com

For Investor Relations inquiries, contact:
Katherine Nash
T:  +1 512-757-2566
E:  knash@sbg-ny.com

Source: Sequential Brands Group, Inc. /globenewswire

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Cabela’s Inc Experienced Challenging Traffic Patterns In Release of First Quarter 2017 Results

  • First Quarter GAAP Diluted EPS of $0.28 and Non-GAAP Diluted EPS of $0.40
  • Cabela’s CLUB® Avg. Receivables Grew 11.0%
  • Consolidated Retail Comparable Store Sales Decreased 8.9%
  • SD&A Expenses Decreased $1.3 Million to $327.9 Million on a GAAP Basis and Decreased $3.1 Million to $318.6 Million on a Non-GAAP Basis

SIDNEY, Neb., 2017-May-08 — /EPR Retail News/ — Cabela’s Incorporated (NYSE:CAB) today (May 4, 2017) reported financial results for the first quarter fiscal 2017.

For the quarter, on a GAAP basis, total revenue decreased 3.4% to $834.9 million, revenue from retail store sales decreased 3.9% to $542.0 million, Internet and catalog sales decreased 12.6% to $136.1 million, and Financial Services revenue increased 6.5% to $150.0 million. For the quarter, U.S. comparable store sales decreased 9.1% and consolidated comparable store sales decreased 8.9%.

For the quarter, net income decreased 16.7% to $19.1 million compared to $22.9 million in the year ago quarter, and earnings per diluted share were $0.28 compared to $0.33 in the year ago quarter. Adjusted for certain items, the Company reported first quarter net income of $27.6 million and earnings per diluted share of $0.40 as compared to net income of $29.5 million and earnings per diluted share of $0.43 in the year ago quarter. First quarter 2017 GAAP results included impairment and restructuring charges and other items totaling a $0.12 reduction in earnings per diluted share. See the supporting schedules to this earnings release labeled “Reconciliation of GAAP Reported to Non-GAAP Adjusted Financial Measures” for a reconciliation of the GAAP to non-GAAP financial measures.

“While we were disappointed with our merchandise sales in the first quarter, we were very pleased with the excellent performance of our Cabela’s CLUB Visa program and our focus on expense management, which continued to provide meaningful contributions to profitability,” said Tommy Millner, Cabela’s Chief Executive Officer. “Similar to broader retail industry trends, we continued to experience challenging traffic patterns in the first quarter. Our growth in average ticket was more than offset by continued decreases in transactions.”

For the quarter, consolidated comparable store sales decreased 8.9% and U.S. comparable store sales decreased 9.1% as compared to the same quarter a year ago. The decrease in comparable store sales was attributable to several specific events. Firearms and ammunition have faced several headwinds including the election and the tough comparisons from the San Bernardino tragedy a year ago. The home and gifts category was challenged by difficult comparisons related to a significant spike in demand for specific items in the first quarter a year ago. While apparel categories comped negatively for the quarter, they have shown signs of improvement and were down less than the consolidated comp.

Merchandise gross margin decreased by 80 basis points in the quarter to 31.4% compared to 32.2% in the same quarter a year ago. This decrease was primarily attributable to the impacts of increased sales discounts and promotional activity as well as merchandise mix. Sales discounts and promotional activity were responsible for approximately 70 basis points of the decrease and the merchandise mix impact was approximately 10 basis points of the overall decrease for the quarter.

Expense management initiatives continued to generate meaningful contributions to profitability. For the quarter, GAAP basis SD&A expenses decreased by $1.3 million to $327.9 million as compared to $329.2 million in the same quarter a year ago. On a non-GAAP basis, SD&A expenses decreased $3.1 million to $318.6 million as compared to $321.7 millionin the same quarter a year ago. Expense reductions were primarily related to efficiencies in labor and a decrease in certain marketing expenses.

“We continue to be very pleased with the results of our expense and process improvement initiatives,” Millner said. “We are particularly encouraged by the sustainable impact of these initiatives from their implementation in 2015 through the first quarter. I commend our teams for executing these profitability enhancing improvements throughout the business.”

The Cabela’s CLUB Visa program had another excellent quarter. For the quarter, growth in the average number of active credit card accounts was 2.4% and growth in average balance per active credit card account was 8.3% as compared to the same period a year ago. The average balance of credit card loans grew 11.0% to approximately $5.4 billion as compared to $4.9 billion in the year ago quarter. For the quarter, net charge-offs were 3.18%. First quarter Financial Services revenue increased 6.5% over the year ago quarter. This increase was primarily driven by increases in interest and fee income, which was largely offset by increases in the provision for loan losses as well as interest expense. During the quarter, the allowance for loan losses was reduced by $6.2 million as compared to a reduction of $1.2 million in the same quarter a year ago. For the quarter, the reduction in the allowance for loan losses was due to improvements in the roll rates for early stage delinquencies from the end of the fourth quarter of 2016 to the end of the first quarter of 2017.

As a reminder, Cabela’s will not host a conference call with analysts and investors or provide guidance in connection with the results and does not plan to do so for future quarters while the acquisition of the Company by Bass Pro Shops is pending.

About Cabela’s Incorporated

Cabela’s Incorporated, headquartered in Sidney, Nebraska, is a leading specialty omni-channel retailer of hunting, fishing, camping, shooting sports, and related outdoor merchandise. Since the Company’s founding in 1961, Cabela’s® has grown to become one of the most well-known outdoor recreation brands in the world, and has long been recognized as the World’s Foremost Outfitter®. Cabela’s offers a wide and distinctive selection of high-quality outdoor products at competitive prices while providing superior customer service. Cabela’s also issues the Cabela’s CLUB® Visa credit card, which serves as its primary customer loyalty rewards program. Cabela’s stock is traded on the New York Stock Exchangeunder the symbol “CAB”.

Caution Concerning Forward-Looking Statements

This press release contains “forward-looking statements” that are based on the Company’s beliefs, assumptions, and expectations of future events, taking into account the information currently available to the Company. All statements other than statements of current or historical fact contained in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. The words “believe,” “may,” “should,” “anticipate,” “estimate,” “expect,” “intend,” “objective,” “seek,” “plan,” “confident,” and similar statements are intended to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that may cause the Company’s actual results, performance, or financial condition to differ materially from the expectations of future results, performance, or financial condition that the Company expresses or implies in any forward-looking statements. These risks and uncertainties include, but are not limited to: the satisfaction of the conditions precedent to the consummation of the proposed merger by and among Bass Pro Group, LLC, Prairie Merger Sub, Inc., a wholly owned subsidiary of Bass Pro Group, LLC, and the Company, including, without limitation, the receipt of stockholder and regulatory approvals, including as a result of the inability of Synovus Bank to timely obtain regulatory approvals for its consummation of its purchase of the assets of World’s Foremost Bank; unanticipated difficulties or expenditures relating to the proposed merger; legal proceedings, judgments, or settlements, including those that may be instituted against the Company, the Company’s board of directors, executive officers, and others following the announcement of the proposed merger; disruptions of current plans and operations caused by the announcement and pendency of the proposed merger; potential difficulties in employee retention due to the announcement and pendency of the proposed merger; the response of customers, suppliers, business partners, and regulators to the announcement of the proposed merger; the state of the economy and the level of discretionary consumer spending, including changes in consumer preferences, demand for firearms and ammunition, and demographic trends; adverse changes in the capital and credit markets or the availability of capital and credit; the Company’s ability to successfully execute its omni-channel strategy; increasing competition in the outdoor sporting goods industry and for credit card products and reward programs; the cost of the Company’s products, including increases in fuel prices; the availability of the Company’s products due to political or financial instability in countries where the goods the Company sells are manufactured; supply and delivery shortages or interruptions, and other interruptions or disruptions to the Company’s systems, processes, or controls, caused by system changes or other factors; increased or adverse government regulations, including regulations relating to firearms and ammunition; the Company’s ability to protect its brand, intellectual property, and reputation; the Company’s ability to prevent cybersecurity breaches and mitigate cybersecurity risks; the outcome of litigation, administrative, and/or regulatory matters (including the ongoing audits by tax authorities and compliance examinations by the Federal Deposit Insurance Corporation); the Company’s ability to manage credit, liquidity, interest rate, operational, legal, regulatory capital, and compliance risks; the Company’s ability to increase credit card receivables while managing credit quality; the Company’s ability to securitize its credit card receivables at acceptable rates or access the deposits market at acceptable rates; the impact of legislation, regulation, and supervisory regulatory actions in the financial services industry; and other risks, relevant factors, and uncertainties identified in the Company’s filings with the SEC (including the information set forth in the “Risk Factors” section of the Company’s Form 10-K for the fiscal year ended December 31, 2016), which filings are available at the Company’s website at www.cabelas.com and the SEC’s website at www.sec.gov. Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. The Company’s forward-looking statements speak only as of the date they are made. Other than as required by law, the Company undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.

Investors:
Cabela’s Incorporated
Andrew Weingardt
308-255-7428

Media:
Cabela’s Incorporated
Nathan Borowski
308-255-2861

Source: Cabela’s Incorporated

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RioCan Real Estate Investment Trust To Redeem All Its Outstanding Cumulative Rate Reset Preferred Trust Units Series C

TORONTO, ONTARIO, 2017-May-08 — /EPR Retail News/ — RioCan Real Estate Investment Trust (“RioCan”) (TSX:REI.UN) today ( May 3, 2017) announced that it will exercise its right to redeem all of its 5,980,000 outstanding Cumulative Rate Reset Preferred Trust Units, Series C (the “Series C Units”) on June 30, 2017 at the cash redemption price of $25.00 per Series C Unit, for total redemption proceeds of $149.5 million.

The regular quarterly distribution of $0.29375 per Series C Unit for the quarter ending June 30, 2017 (the “Final Distribution”) will be payable to holders of the Series C Units of record on June 30, 2017. Payment of the redemption proceeds and the Final Distribution will be made to CDS & Co., as sole registered holder, on or prior to June 30, 2017. Payment to beneficial holders will be made through the facilities of CDS & Co. on or about July 4, 2017 in respect of the redemption proceeds and July 6, 2017 in respect of the Final Distribution, respectively.

From and after June 30, 2017, the Series C Units will cease to be entitled to distributions and the only remaining rights of holders of such units will be to receive payment of the cash redemption price.

Beneficial holders who are not directly the registered holder of Series C Units should contact the financial institution, broker or other intermediary through which they hold these units to confirm how they will receive their redemption proceeds. Instructions with respect to receipt of the redemption amount will be set out in the redemption notice to be mailed to the registered holder of the Series C Units shortly. Inquiries should be directed to our Registrar and Transfer Agent, CST Trust Company, at 1-800-387-0825 (or in Toronto 416-682-3860).

About RioCan

RioCan is Canada’s largest real estate investment trust with a total enterprise value of approximately $14.6 billion as at December 31, 2016. RioCan owns and manages Canada’s largest portfolio of shopping centres with ownership interests in a portfolio of 300 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
Qi Tang
Senior Vice President, Finance and Acting Chief Financial Of
416-866-3033
www.riocan.com

Source: RioCan

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Restaurant Brands International, Inc. Announces Pricing, Upsizing, and Revised Sizing of their Senior Notes and Incremental Facility

OAKVILLE, ON, 2017-May-08 — /EPR Retail News/ — Restaurant Brands International Inc. (“RBI”) (TSX/NYSE: QSR, TSX: QSP) and 1011778 B.C. Unlimited Liability Company (the “Issuer”) and New Red Finance, Inc. (the “Co-Issuer” and, together with the Issuer, the “Issuers”) announced today (May 3, 2017) that the Issuers priced their previously announced offering of 4.250% First Lien Senior Secured Notes due 2024 (the “2017 Senior Notes”) and upsized the offering of the 2017 Senior Notes from an aggregate principal amount of $1,000 million to $1,500 million. The 2017 Senior Notes will have a maturity date of May 15, 2024. The Issuers also announced an incremental borrowing of $250 million in aggregate principal amount under the existing First Lien Term Loan Facility (the “Incremental Facility”), compared to the previously announced intention to borrow $500 million in aggregate principal amount. The close and funding of the 2017 Senior Notes and the Incremental Facility are expected to be completed on or about May 17, 2017, subject to customary closing conditions.

The 2017 Senior Notes were priced at 100.000% of their face value. The 2017 Senior Notes will be first lien senior secured obligations of the Issuers guaranteed on a senior secured basis by each of the subsidiaries that guarantee the Issuers’ obligations under the senior secured First Lien Term Loan Facility.

As previously announced, RBI expects to use the proceeds from the offering of the 2017 Senior Notes and from the Incremental Facility, together with other sources of liquidity, to redeem all or a portion of RBI’s outstanding 9.00% Class A Cumulative Compounding Redeemable Preferred Shares, for general corporate purposes and to pay fees and expenses related to this offering.

The 2017 Senior Notes and the related guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the U.S. absent registration or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Restaurant Brands International

Restaurant Brands International Inc. is one of the world’s largest quick service restaurant companies with more than $27 billion in system-wide sales and over 23,000 restaurants in more than 100 countries and U.S. territories. RBI owns three of the world’s most prominent and iconic quick service restaurant brands – TIM HORTONS®, BURGER KING®, and POPEYES®. These independently operated brands have been serving their respective guests, franchisees and communities for over 40 years. To learn more about RBI, please visit the company’s website at www.rbi.com.

Forward-Looking Statements

This press release includes forward-looking statements, which are often identified by the words “may,” “might,” “believes,” “thinks,” “anticipates,” “plans,” “expects,” “intends” or similar expressions and reflect management’s expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements include statements about RBI’s and the Issuers’ expectations and beliefs regarding their ability to increase borrowings under the existing First Lien Term Loan Facility and complete the proposed 2017 Senior Notes offering on terms acceptable to RBI and the Issuers or at all. The factors that could cause actual results to differ materially from RBI’s expectations are detailed in filings of RBI with the U.S. Securities and Exchange Commission and on SEDAR in Canada, such as its annual and quarterly reports and current reports on Form 8-K, and include the following: risks related to RBI’s substantial indebtedness, which could adversely affect its financial condition and prevent it from fulfilling its obligations. RBI undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.

Contact:

Media@RBI.com.

SOURCE: Restaurant Brands International Inc.