JCPenney debuts Libby Edelman® lifestyle brand for time-strapped women

JCPenney debuts Libby Edelman® lifestyle brand for time-strapped women

 

Legendary Footwear Designer Brings Exclusive Collection of Shoes, Handbags, Apparel and Accessories to 500 JCPenney Stores

PLANO, Texas, 2017-Jun-13 — /EPR Retail News/ — JCPenney [NYSE: JCP] is stepping up its fashion game with the debut of Libby Edelman®, a lifestyle brand featuring irresistible fashion for time-strapped women. Inspired by Libby Edelman, creative visionary and co-creator of Sam & Libby® and Sam Edelman®footwear, the exclusive namesake brand boasts footwear, handbags, casual clothing and accessories that exude effortless style for a busy life. A special preview collection spotlighting summer dresses, casual footwear and lightweight crossbody bags debuts in 500 stores and at JCPenney.com beginning July 14, followed by a full launch on Sept. 8. The complete fall line-up will include a wider assortment of embroidered boots, sleek totes, feminine blouses in striking prints, layering jackets, versatile dresses, scarves, necklaces and trend hosiery.

“As we move to revitalize our women’s business at JCPenney, we want to attract new customers by expanding our women’s contemporary assortment and infusing newness into our brand portfolio through unique designer partnerships,” said John Tighe, chief merchant for JCPenney. “Libby Edelman is the latest collection to showcase this new strategy as we move toward meeting customer demand for more trendy, casual fashion.”

The Libby Edelman brand will encompass an eclectic mix of free-spirited looks offering modern pieces influenced by seasonal trends. In July, a selection of fashion sneakers, ankle-strap flats, peep-toe booties and crossbody handbags with embroidery and grommet accents will perfectly complement a limited edition of summer dresses. September will mark the debut of the full Libby Edelman lifestyle collection featuring shoes, handbags, apparel, fashion jewelry, accessories and hosiery, which will be prominently displayed throughout the women’s floor.

“As a busy working mom, I always wanted clothes, shoes and accessories with a simple, elegant and unique feel that made putting together a great look effortless. The Libby Edelman collection is ideal for every woman who has this similar desire,” said Libby Edelman. “While the collection simplifies everyday wardrobe choices, my hope is to give women the freedom and inspiration to combine pieces from the collection in ways that help them express new aspects of their personal style.”

Rooted in footwear, Libby Edelman will offer signature fashion flats, stacked heels, sling-back pumps and calf-high boots. The handbag collection will include a compelling mix of styles from suede hobo bags with tassels to chic, functional totes. Both will have elevated luxe details such as velvet fabrics and shiny embellishments for perfect trend-relevant looks. Apparel will include blouses, dresses, pants and jackets that blend floral and leopard prints, as well as tribal patterns with fall colors such as olive, blue, burgundy and purple. Chokers, pendants, statement earrings, bangles, scarves, belts and contemporary hosiery will inspire shoppers to create a head-to-toe look.

Libby Edelman will personally host the #SoWorthIt video series and serve as a mentor to modern American moms by sharing tips on how to achieve great style for a busy life. Customers can access the series through the JCPenney YouTube channel at www.youtube.com/jcpenney. The Libby Edelman collection will be shared, posted and pinned across multiple JCPenney social media channels, including Instagram and Pinterest, in addition to traditional marketing channels.

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every customer’s shopping experience is worth her time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, she will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands. Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on the Company’s three strategic priorities of strengthening private brands, becoming a world-class omnichannel retailer and increasing revenue per customer. For additional information, please visit jcp.com.

JCPenney Media Relations:
(972) 431-3400
jcpnews@jcp.com
Follow @jcpnews on Twitter for the latest announcements and Company information.

Source: J. C. Penney Company, Inc.

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AHOLD SHARE BUYBACK UPDATE: AHOLD REPURCHASED 1,725,270 AHOLD COMMON SHARES IN THE PERIOD FROM June 5, 2017 UP TO AND INCLUDING June 9, 2017

Zaandam, the Netherlands, 2017-Jun-13 — /EPR Retail News/ — Ahold Delhaize has repurchased 1,725,270 of Ahold Delhaize common shares in the period from June 5, 2017 up to and including June 9, 2017. The shares were repurchased at an average price of €19.35 per share for a total consideration of €33.4 million. These repurchases were made as part of the €1 billion share buyback program announced on December 7, 2016.

The total number of shares repurchased under this program to date is 23,354,826 common shares for a total consideration of €462 million.

Download the share buyback transactions excel sheet for detailed individual transaction information under “Files to download” (on the right).

Visit www.aholddelhaize.com/en/investors/share-information/share-buy-back-programs for a complete overview of all Ahold Delhaize share buyback programs.

Contact:

Ellen van Ginkel
Director External Communications
media.relations@aholddelhaize.com
+31 88 6595134

Source: Ahold Delhaize

 

FRF: Florida families will spend more than ever on Father’s Day this year

Dads to get showered with gifts in record-setting fashion this year; Meals, clothing, gift cards, electronics and personal care items top the list of popular options

TALLAHASSEE, FL, 2017-Jun-13 — /EPR Retail News/ — The Florida Retail Federation (FRF), the state’s premier trade association celebrating its 80th year of supporting Florida’s retail industry, says Florida families will spend more than ever on Father’s Day this year. Consumers are expected to spend an average $134.75 for the holiday, up almost $10 from last year’s $125.92. Total spending nationwide is expected to reach $15.5 billion, the highest in the survey’s 15-year history and almost a billion more than last year.

“I am very encouraged to see that Floridians and families across the country are planning to spend more than ever before to celebrate the special dads in their lives,” said FRF President/CEO R. Scott Shalley. “These results show that Americans are feeling more and more confident and optimistic in this improving economy and dads and retailers can expect to benefit this Father’s Day.”

According to FRF’s partners at the National Retail Federation’s annual survey conducted by Prosper Insight and Analytics, consumers plan to spend $3.3 billion on special outings such as dinner, brunch or other types of a “fun activity/experience” (given by 48 percent). Clothing (given by 46 percent) and gift cards (given by 43 percent) are tied at $2.2 billion each while consumer electronics (given by 21 percent) follow at $1.8 billion. As with Mother’s Day, greeting cards are the most commonly purchased gift at 64 percent but account for only $861 million of projected spending. Other popular gifts include personal care, automotive accessories, books, music, home improvement/gardening supplies and sporting goods.

The survey found 27 percent of shoppers will opt for a “gift of experience” such as tickets to a concert or a sporting event. The largest projected growth category was for “personal care” items such as cologne, razors, aftershave, etc. where spending is expected to be 20% higher over last year.

When searching for the perfect gift, 40 percent of consumers will head to department stores and 34 percent will shop online while 26 percent will shop at a discount store, 24 percent at a specialty store and 19 percent at a local small business. Among smartphone owners, 33 percent will use them to research gift ideas but only 18 percent will use them to make a purchase. Tablets are used more frequently both to research (32 percent) and buy (19 percent).

More than half of those surveyed plan to buy for their father or stepfather (54 percent), while others will shop for their husband (29 percent) or son (10 percent).

ABOUT THE FLORIDA RETAIL FEDERATION
The Florida Retail Federation is the statewide trade association representing retailers — the businesses that sell directly to consumers. Florida retailers provide one out of every five jobs in the state, pay more than $49 billion in wages annually, and collect and remit more than $20 billion in sales taxes for Florida’s government each year.

ABOUT THE NATIONAL RETAIL FEDERATION
As the world’s largest retail trade association and the voice of retail worldwide, the National Retail Federation’s global membership includes retailers of all sizes, formats and channels of distribution as well as chain restaurants and industry partners from the U.S. and more than 45 countries abroad. In the U.S., NRF represents the breadth and diversity of an industry with more than 1.6 million American companies that employ nearly 25 million workers and generated 2010 sales of $2.4 trillion. www.nrf.com.

CONTACT:

James Miller
james@frf.org
(850)701-3015

Source: Florida Retail Federation (FRF)

Kenko.com and Soukai Drug merge to form Rakuten Direct, Inc.

Tokyo, 2017-Jun-13 — /EPR Retail News/ — Rakuten Inc. today (JUNE 12, 2017) announced that the new company to be formed through the merger of Rakuten’s wholly-owned subsidiaries Kenko.com, Inc. and Soukai Drug. Co., Ltd. on July 1, 2017 will be named Rakuten Direct, Inc. Noriaki Komori will assume the role of Representative Director & CEO at the new company.

Rakuten Direct, Inc. will provide e-commerce services for daily necessities. Through this merger, the new company will strive to realize improved efficiency in logistics infrastructure and information systems, expand the range of products offered and further improve customer service.

Overview of the new company

Name Rakuten Direct, Inc.
Location 1-15-6 Tenjin Chuo-ku, Fukuoka-shi, Fukuoka
Name, title of representative Noriaki Komori, Representative Director & CEO
Business E-commerce services for daily necessities

Source: Rakuten Inc.

RUSSIA: Lenta announces the opening of its 15h supermarket in St. Petersburg

St. Petersburg, Russia, 2017-Jun-13 — /EPR Retail News/ — Lenta, (LSE, MOEX: LNTA) one of the largest retail chains in Russia, is pleased to announce the opening of its 15h supermarket in St. Petersburg.

The new store is a Lenta medium format supermarket located at 15A Avtovskaya str., St. Petersburg. The store has a total area of 1,300 sq.m with 692 sq.m of selling space and is open from 8.00 am till 11.00 pm, seven days a week. A broad product assortment of 4,800 SKUs has been selected specifically for residents of St. Petersburg and includes Lenta’s private labels and federal product ranges alongside local produce. The store has 6 cash registers. The property is leased by Lenta.

This opening in St. Petersburg is Lenta’s eighth supermarket opening in 2017 and brings the total number of Lenta stores to 195 hypermarkets in 78 cities across Russia and 56 supermarkets in Moscow, St. Petersburg, Novosibirsk and the Central region.

About Lenta
Lenta is the largest hypermarket chain in Russia (in terms of selling space) and the country’s fourth largest retail chain (in terms of sales as of Q1 2017). The Company was founded in 1993 in St. Petersburg. Lenta operates 195 hypermarkets in 78 cities across Russia and 56 supermarkets in Moscow, St. Petersburg, Novosibirsk and the Central region with a total of approximately 1,170,600 sq.m of selling space. The average Lenta hypermarket store has selling space of approximately 5,700 sq.m. The average Lenta supermarket store has selling space of approximately 900 sq.m. The Company operates seven owned distribution centres.

The Company’s price-led hypermarket formats are differentiated in terms of their promotion and pricing strategies as well as their local product assortment. The Company employed approximately 45,689 people as of 31 December 20161.

The Company’s management team combines a mix of local knowledge and international expertise coupled with extensive operational experience in Russia. Lenta’s largest shareholders include TPG Capital and the European Bank for Reconstruction and Development, both of which are committed to maintaining high standards of corporate governance. Lenta is listed on the London Stock Exchange and on the Moscow Exchange and trades under the ticker: ‘LNTA’.

A brief video summary on Lenta’s business and its Big Data initiative can be seen here.

For further information please visit www.lentainvestor.com.

Contact:

Lenta
Anastasia Kuznetsova,
Corporate Communications Manager
Тel:+7 (812) 336 39 97
E-mail: a.kuznetsova@lenta.com

FTI Consulting
Russian Media:
Anton Karpov & Victoria Afonina
Тel:+7 495 795 06 23
E-mail: lenta@FTIconsulting.com

FTI Consulting
International Media:
Leonid Fink & Jenny Payne
Тel: +44 7497 783 705
E-mail: Leonid.Fink@fticonsulting.com
Jenny.Payne@fticonsulting.com

Source: Lenta

Charlie Puth joins Hollister campaigns

Charlie Puth joins Hollister campaigns

 

New Albany, OH, 2017-Jun-13 — /EPR Retail News/ — Hollister Co. (NYSE: ANF), the global retail brand celebrating the spirit of endless summer, announced the launch of its partnership with multi-platinum, multi-GRAMMY nominated recording artist and producer, Charlie Puth. The collaboration will include his involvement in three Hollister campaigns and will run from June until November 2017.

To kick off the official start of Summer, Hollister Co. will launch its campaign Summer Drop, on June 21st, 2017.  Hollister Co. will follow the sunset across the nation and host free concerts in Boston, Mass., Austin, Texas, and finishing at Vidcon in Anaheim, Calif., in celebration of the Summer Solstice. The first concert of the day will be in Boston with music by Timeflies and Bea Miller, followed by a concert in Austin where Puth will headline, supported by musician Corey Harper.  The final concert of the day will take place on the music stage at the Vidcon conference.  Each concert will be hosted by a social media influencer and live-streamed through the brand’s Facebook channel, so that fans everywhere can enjoy the special night.

Hollister will also be running a host of surprise and delight activations to ensure loyal customers get to experience their most epic summer.  These will include concert tickets, go pros, road trips, and one customer will win a party for them and their friends.

In July, Charlie Puth will front Hollister’s Back to School campaign, which focuses on the brand’s jeans assortment.  Shot in downtown Los Angeles on a roof overlooking the city, Charlie can be seen wearing an array of Hollister denim, alongside cast members from Hollister’s AwesomenessTV show, This Is Summer, social media influencers Alisha Marie and Larsen Thompson, from Hollister’s Swim Squad, and models.  Charlie’s new single Attention, which is tipped to be the track of the summer, will be remixed to provide a unique soundtrack to the campaign.

Additionally, Charlie Puth will join Hollister to bring awareness to the issue of bullying.  October is National Bullying Prevention Month, a cause that  Abercrombie & Fitch Co. has supported for the past five years.  This year, Hollister is proud to partner with  STOMP Out Bullying and with Puth’s help, the brand will promote Blue Shirt Day® World Day of Bullying Prevention(TM).  October 2, 2017 marks the 10th year of STOMP Out Bullying’s campaign and Hollister will be the sole provider of the Blue Shirts for World Day of Bullying Prevention. More details to be announced in the coming months.

“I am honored to be partnering with Hollister. The brand has a fun, laid-back, Cali vibe that fits my lifestyle. I am looking forward to a summer supporting Hollister and sharing experiences with customers across the nation,” said Charlie Puth.

“At Hollister, we are passionate about creating unique activations for our customers that can live in both our digital and physical worlds. The partnership with Charlie Puth, spanning several months and campaigns, will provide engaging content and activations for our fans both on and off-line,” said Will Smith, Chief Marketing Officer of Abercrombie & Fitch Co.  “We are excited to have Charlie as our partner in celebrating summer!”

To learn more about the campaigns visit www.hollisterco.com or @HollisterCo on social media and follow #HCoTHATsummer.

Hollister Co. worked with Creative Artists Agency (CAA), which represents Charlie Puth, to build the partnership.

About Hollister Co.
The quintessential retail brand of the global teen consumer, Hollister Co. celebrates the liberating spirit of the endless summer inside everyone.  Inspired by California’s laidback attitude, Hollister’s clothes are designed to be lived in and made your own, for wherever life takes you. A division of Abercrombie & Fitch Co. (NYSE: ANF), Hollister provides an engaging, welcoming, and unique shopping experience through its global e-commerce websites and its more than 540 retail locations.

About Charlie Puth
New Jersey-born multiple GRAMMY® Award-nominated multiplatinum artist, songwriter, and producer Charlie Puth catapulted to superstardom in 2016 at light speed. He maintained this perpetual motion with the 2017 single “Attention,” which The New York Times called “a savage takedown rendered in pinpoint 1980s soft-soul haze smacked hard by glossy funk.” The song cracked 3 million Spotify streams in just a week, and its sexy music video racked up over 3 million views in under 24 hours.

Puth’s RIAA platinum-certified first album NINE TRACK MIND made a remarkable chart debut upon its 2016 release, hitting #5 on Billboard’s Top Current Albums Chart, fueled by the 2x RIAA platinum-certified top 40 smashes, “One Call Away” and “Marvin Gaye (featuring Meghan Trainor),” as well as the platinum-certified “We Don’t Talk Anymore (featuring Selena Gomez).” A worldwide phenomenon, the album reached #1 on iTunes charts in 28 countries around the globe.

Puth fully exploded onto the music scene as a songwriter, producer and vocalist on Wiz Khalifa’s “See You Again,” the emotional tribute to Paul Walker in “FURIOUS 7.” The song has officially entered the history books as one of the decade’s biggest singles, topping Billboard’s Hot 100 for a stunning 12 weeks and has become YouTube’s “second most popular video of all-time” with 2.6 billion-plus views. It won two Billboard Music Awards, a Critic’s Choice Award for “Best Song,” a Hollywood Film Award, 2 Teen Choice Awards, a Golden Globe® Award nomination in the category of “Best Original Song” and three GRAMMY® Award nods, including the prestigious “Song of the Year.”

2017 will see Puth performing as special guest on Shawn Mendes’ “Illuminate World Tour” – beginning July 6 in Portland through late August. For complete details and ticket information, visit www.charlieputh.com/tour. For news, music, and additional information, please visit www.charlieputh.com.

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

Investor Contact:
Brian Logan
Abercrombie & Fitch
(614) 283-6877
Investor_Relations@abercrombie.com

Source: Abercrombie & Fitch

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J.Crew Group: exchange of the outstanding $566.5 million aggregate principal amount of 7.75%/8.50% Senior PIK Toggle Notes due 2019

NEW YORK, 2017-Jun-13 — /EPR Retail News/ — J.Crew Group, Inc. (the “Company”) today (June 12, 2017) announced that J.Crew Brand, LLC (“BrandCo”) and J.Crew Brand Corp. (“BrandCorp” and, together with BrandCo, the “New Notes Co-Issuers”), both indirect wholly-owned subsidiaries of the Company, and Chinos Holdings, Inc., the ultimate parent of the Company (“Parent” and, collectively with the New Notes Co-Issuers, the “New Securities Issuers”), have commenced a private offer (such offer, the “Exchange Offer”) to certain eligible noteholders described below to exchange any and all of the outstanding $566.5 million aggregate principal amount of 7.75%/8.50% Senior PIK Toggle Notes due 2019 (CUSIP Nos 16961UAA4 and U1680U AA3, ISIN Nos US16961UAA43 and USU1680UAA35) (the “Old Notes”) issued by Chinos Intermediate Holdings A, Inc., a direct wholly-owned subsidiary of Parent (the “Old Notes Issuer”), for newly issued:

(i) 13% Senior Secured Notes due 2021 to be issued by the New Notes Co-Issuers in an aggregate principal amount of up to $250 million (the “New Notes” and, together with the New Guarantees (as defined herein), the “New Debt Securities”),

(ii) shares of Parent’s 7% non-convertible perpetual preferred stock, series A, no par value per share, with an aggregate initial liquidation preference of up to $190,000,000 (the “New Series A Preferred Stock”) and

(iii) shares of Parent’s class A common stock, $0.00001 par value per share (the “Class A Common Stock” and, collectively with the New Series A Preferred Stock and the New Debt Securities, the “New Securities”), representing up to approximately 15% of the common equity of Parent, in each case, upon the terms and conditions set forth in the Confidential Offering Memorandum and Consent Solicitation Statement, dated June 12, 2017 (the “Offering Memorandum”).

The purpose of the Exchange Offer is to refinance the Old Notes to reduce the consolidated indebtedness of Parent and its subsidiaries and to extend the average maturity thereof. The Exchange Offer is conditioned on a minimum of 95% of the outstanding aggregate principal amount of Old Notes being validly tendered, not withdrawn and accepted in the Exchange Offer.  This condition may not be waived without the consent of certain holders of outstanding Old Notes and their affiliates that also hold a portion of term loans under the Term Loan Facility (as defined below) (such holders, the “Ad Hoc Creditors”).

Eligible holders who validly tender their Old Notes in the Exchange Offer prior to 5:00 p.m., New York City time, on June 23, 2017 (such date and time, as it may be extended, the “Early Deadline”) and do not validly withdraw their tender prior to 5:00 p.m., New York City time, on June 23, 2017 (such date and time, as it may be extended, the “Withdrawal Deadline”) will receive the Total Exchange Consideration.  “Total Exchange Consideration” means, for each $1,000 principal amount of Old Notes validly tendered, not withdrawn and accepted by the New Securities Issuers:

(i) $441.308013 principal amount of New Notes (which includes the “Early Tender Payment” of $40 principal amount of New Notes per $1,000 principal amount of Old Notes tendered),

(ii) $335.394 initial liquidation preference (0.335394 shares) of New Series A Preferred Stock, and

(iii) 30.695204 shares of Class A Common Stock, in each case subject to rounding.

Eligible holders who validly tender and do not validly withdraw Old Notes in the Exchange Offer after the Early Deadline, but prior to 11:59 p.m., New York City time, on July 10, 2017 (such date and time, as it may be extended, the “Expiration Time”), will receive the “Exchange Consideration,” which is the Total Exchange Consideration less the Early Tender Payment for Old Notes accepted in the Exchange Offer. The “Settlement Date” is expected to be three business days after the Expiration Time, but in no event later than the fifth business day following the Expiration Time. Holders whose Old Notes are accepted in the Exchange Offer will not receive additional consideration in respect of any accrued and unpaid interest on such Old Notes from and including the last interest payment date on such Old Notes to, but not including, the Settlement Date. The New Notes will mature on September 15, 2021, bear interest at a rate of 13% per annum, payable semi-annually in cash in arrears, and will be fully and unconditionally guaranteed as to payment of principal, premium, if any, and interest, jointly and severally, on a senior secured basis, by J. Crew Brand Intermediate, LLC, the direct parent of BrandCo (“Parent Guarantor”), J. Crew Domestic Brand, LLC (“IPCo”) and J. Crew International Brand, LLC (together with IPCo, the “Subsidiary Guarantors”), each of which is an indirect domestic subsidiary of the Company (each, a “Guarantor” and collectively, the “Guarantors”).  The guarantees of the Guarantors are collectively referred to herein as the “New Guarantees.” BrandCorp, the corporate co-issuer of the New Notes, is a wholly-owned subsidiary of BrandCo, has no assets and is not expected to have any cash flow to apply to payments on the New Notes.

The New Debt Securities will be secured (subject to permitted liens under the indenture governing the New Notes (the “New Notes Indenture”)) by (a) first-priority liens on (i) the Initial Transferred IP (as defined below), (ii) IPCo’s rights under the Intellectual Property License Agreement that IPCo entered into on December 6, 2016 with J.Crew International, Inc., an indirect wholly-owned subsidiary of the Company (“JCI”), and J.Crew Operating Corp., a direct wholly-owned subsidiary of the Company (“OpCo”) (solely in its capacity as payor on behalf of JCI), pursuant to which JCI transferred a 72.04% undivided interest in certain of its U..S. intellectual property assets (the “Initial Transferred IP”) to IPCo (such agreement, as will be amended and restated concurrently with the settlement of the Exchange Offer, the “A&R IP License Agreement”), (iii) a pledge of 100% of the equity interests of the New Notes Co-Issuers and the Subsidiary Guarantors, including IPCo (the “IP Group Pledge”), and (iv) substantially all other assets of the New Notes Co-Issuers and the Guarantors (including (x) any cash held by the New Notes Co-Issuers or any of the Guarantors, (y) certain intercompany loans described in the Offering Memorandum and (z) any Old Notes validly tendered, not withdrawn and accepted in the Exchange Offer, which will not be cancelled but will continue to be held by BrandCo, subject to the terms of the New Notes Indenture) (collectively, the “Other IP Group Assets”); and, in the event the Term Loan Transactions (as defined below), are completed, (b) second-priority liens on (i) the Additional Transferred IP (as defined below) and (ii) IPCo’s rights under the new Intellectual Property Agreement that IPCo will enter into on the Settlement Date with JCI and OpCo (solely in its capacity as payor on behalf of JCI) substantially in the form of the A&R IP License Agreement (the “Additional IP License Agreement”).

IPCo’s assets currently consist solely of (i) the Initial Transferred IP, consisting of certain U.S. intellectual property rights currently used by the Company and its subsidiaries in the conduct of their business and (ii) its rights under the A&R IP License Agreement. Pursuant to the A&R IP License Agreement, the Company and certain of its subsidiaries will continue to exclusively use the Transferred IP (as defined below) and OpCo, on behalf of JCI, will pay to IPCo a fixed license fee of $42.5 million per annum or, in the event Term Loan Transactions are completed and the Additional IP License Agreement entered into, an aggregate of $59.0 million per annum, payable semi-annually.

Parent will pay, to the extent of lawfully available funds, cash dividends on the New Series A Preferred Stock, when, as and if declared by Parent’s board of directors (or a duly authorized committee thereof).  Dividends on the New Series A Preferred Stock will be cumulative and accrue from the Settlement Date at a rate of 7% per annum, payable at a rate of 5% per annum in cash and 2% per annum through an increase in liquidation preference, in each case, semiannually, in arrears, on September 15 and March 15 of each year, commencing on September 15, 2017.

Equity Recapitalization

Subject to the closing of the Exchange Offer, and concurrently therewith, a majority in interest of the current holders of Parent’s Class L Common Stock, par value $0.001 per share (the “Class L Common Stock”), including TPG Capital, L.P. (together with its affiliates, “TPG”) and Leonard Green & Partners, L.P. (together with its affiliates, “LGP” and, together with TPG, the “Sponsors”), will elect to convert all the outstanding shares of Class L Common Stock into (i) 110,000 shares of Parent’s 7% non-convertible perpetual preferred stock, Series B, no par value, with an initial liquidation preference of $1,000 per share ($110 million aggregate initial liquidation preference) that will be pari passu with the New Series A Preferred Stock (the “New Series B Preferred Stock”), and (ii) 95,350,555.66 shares of Parent’s Class A Common Stock (collectively, the “Recapitalization”).

Dividends on the New Series B Preferred Stock will accrue from the Settlement Date at a rate of 7% per annum, semi-annually, in arrears, on September 15 and March 15 of each year, commencing on September 15, 2017.  After distributions have been made on the New Series B Preferred Stock that equal the liquidation preference thereof and all accrued dividends thereon, the holders of the New Series B Preferred Stock shall be entitled to receive, in the aggregate, approximately 3% of the sum of any distributions made in respect of Class A Common Stock.

In connection with the Recapitalization, the Principal Investors Stockholders’ Agreement, dated as of March 7, 2011, among Parent, the Old Notes Issuer, Chinos Intermediate Holdings B, Inc., an indirect wholly-owned subsidiary of Parent (“Intermediate Holdings B”), the Company, the Sponsors and the other stockholders party thereto, will be amended and restated to provide that the holders of the Class A Common Stock will be subject to certain rights and obligations as set forth in greater detail therein.

In connection with the Exchange Offer, the Company intends to implement a new management incentive plan, pursuant to which it is expected that certain officers and employees of the Company will be entitled to receive equity awards of up to 10% of the Class A Common Stock outstanding after the Exchange Offer and up to $20 million in initial liquidation preference of additional New Series B Preferred Stock of Parent. The Class A Common Stock component of the new management incentive plan will dilute all holders of the Class A Common Stock. Any additional New Series B Preferred Stock will be in addition to the New Series B Preferred Stock.

The Proposed Term Loan Transactions

Concurrently with the Exchange Offer, the Company is seeking to amend its Amended and Restated Credit Agreement, dated as of March 5, 2014 (the “Term Loan Agreement”), by and among, inter alios, the Company, Intermediate Holdings B, Wilmington Savings Fund Society, FSB, as Administrative Agent (the “Term Loan Agent”), and the Lenders party thereto (such amendment, the “Term Loan Amendment”).

If requisite consents are received for the Term Loan Amendment, the Company will engage in a series of transactions (the “Term Loan Transactions”) concurrently with the settlement of the Exchange Offer, including the purchase of $150 million principal amount of term loans under the Term Loan Agreement held by lenders who consent to the Term Loan Amendment at par plus accrued interest thereon; additional borrowings under the Term Loan Agreement of $30 million principal amount (at a 2% discount), to be provided by new or existing lenders, or in lieu thereof, one or more Sponsors (or affiliates thereof), the net proceeds of which will be applied by the Company to finance the refinancing, redemption or repurchase of term loans referenced above; the issuance of $97 million principal amount of New Private Placement Notes (as defined below) at a 3% discount in a private placement (the “Concurrent Private Placement”) pursuant to the terms of the Note Purchase Agreement (as defined below), the proceeds of which will be lent on a subordinated basis by BrandCo to the Company to finance the refinancing, redemption or repurchase of term loans referenced above; the contribution by JCI to IPCo of the remaining undivided 27.96% ownership interest of certain U.S. intellectual property rights  not previously included in the Initial Transferred IP (the “Additional Transferred IP” and, together with the Initial Transferred IP, the “Transferred IP”), in which case, the references herein to the “Transferred IP” will include an aggregate 100% ownership interest in such U.S. intellectual property rights); and a direction to the Term Loan Agent to dismiss, with prejudice, certain litigation relating to the assignment of the Initial Transferred IP (and related matters).

The Exchange Offer is not conditioned upon approval of the Term Loan Amendment. However, if requisite consents for the Term Loan Amendment are obtained, the settlement of the Exchange Offer will be conditioned upon the completion of the Term Loan Transactions. If the Term Loan Amendment is not approved, the Term Loan Transactions will not be completed, but, if the conditions to the Exchange Offer are satisfied or waived, the Exchange Offer will be consummated.

Restructuring Support Agreement

The Ad Hoc Creditors have entered into a Restructuring Support Agreement (the “RSA”), dated June 12, 2017, with Parent and certain of its subsidiaries and affiliates, pursuant to which, subject to the terms and conditions thereof, the Ad Hoc Creditors agreed to take certain actions in support of the Term Loan Transactions, including (i) voting in favor of the Term Loan Amendment as lenders under the Term Loan Agreement; and (ii) if the Term Loan Transactions are consummated, subject to the terms and conditions contained in the Note Purchase Agreement, purchasing an aggregate of $97 million principal amount of the New Private Placement Notes in the Concurrent Private Placement.  In addition, the Ad Hoc Creditors hold approximately 67% of the outstanding Old Notes and have agreed to tender their Old Notes in the Exchange Offer, which contains a 95% minimum tender condition, provided that each Ad Hoc Creditor may withhold or tender in its discretion 3% of the outstanding Old Notes (6% total), and provided further that if one Ad Hoc Creditor tenders any withheld Old Notes in the Exchange Offer, the other Ad Hoc Creditor is required to tender its withheld Old Notes in the Exchange Offer. The agreements and obligations of the Ad Hoc Creditors under the RSA are subject to the conditions, restrictions and provisions contained therein.

Note Purchase Agreement and Concurrent Private Placement

The Company, the New Notes Co-Issuers and the Guarantors have entered into a Note Purchase Agreement (the “Note Purchase Agreement”), dated June 12, 2017, with the Ad Hoc Creditors, pursuant to which, the Ad Hoc Creditors have agreed, in the event the Term Loan Transactions are completed, to purchase $97 million principal amount of an additional series of 13% Senior Secured Notes due 2021 (the “New Private Placement Notes”) to be issued by the New Notes Co-Issuers at a 3% discount in the Concurrent Private Placement. The agreements and obligations of the Ad Hoc Creditors under the Note Purchase Agreement are subject to the conditions, restrictions and provisions contained therein.

The New Private Placement Notes will be governed by an indenture substantially in the form of the New Notes Indenture and will also be guaranteed by the Guarantors. In the event the Term Loan Transactions are completed and the New Private Placement Notes are issued in the Concurrent Private Placement, the New Private Placement Notes and the guarantees thereof will be secured (subject to permitted liens under the indenture governing the New Private Placement Notes) by (a) first-priority liens on (i) the Additional Transferred IP, (ii) IPCo’s rights under the Additional IP License Agreement, (iii) the IP Group Pledge, and (iv) the Other IP Group Assets; and (b) second-priority liens on (i) the Initial Transferred IP and (ii) IPCo’s rights under the A&R IP License Agreement.

Consent Solicitation

In conjunction with the Exchange Offer, the Old Notes Issuer is soliciting consents (the “Consent Solicitation”) from holders of the Old Notes to suspend, subject to certain conditions, substantially all of the covenants, restrictive provisions and events of default under the indenture governing the Old Notes (the “Old Notes Indenture”) and provide the Old Notes Issuer, any guarantor under the Old Notes Indenture and any of their respective affiliates, in each case, that holds the Old Notes, with the ability to vote on directions, waivers and consents under the Old Notes Indenture.  The Exchange Offer is conditioned upon the completion of the Consent Solicitation.  The Ad Hoc Creditors have agreed pursuant to the RSA, subject to the terms and conditions thereof, to tender Old Notes (and thereby provide consents) with respect to a sufficient principal amount of Old Notes to ensure adoption of the Proposed Amendments, which will become operative only upon completion of the Exchange Offer. Holders who validly tender (and do not validly withdraw) their Old Notes pursuant to the Exchange Offer will be deemed to have delivered their consents pursuant to the Consent Solicitation by such tender. Holders may not deliver consents without tendering their Old Notes, and holders may not tender their Old Notes without delivering consents.

Old Notes subject to the Exchange Offer and Consent Solicitation may be validly withdrawn at any time on or before the Withdrawal Deadline, but not thereafter, even if the Early Deadline or Expiration Time is extended. The valid withdrawal of tendered Old Notes prior to the Withdrawal Deadline will be deemed to be a concurrent revocation of the corresponding consent.

Available Documents and Other Details

Documents relating to the Exchange Offer and the Consent Solicitation will only be distributed to noteholders who complete and return an eligibility form confirming that they are either a “qualified institutional buyer” under Rule 144A or not a “U.S. person” under Regulation S for purposes of applicable securities laws.

Noteholders who desire to complete an eligibility form should either visit the website for this purpose at http://main.dfking.com/jcrew/index.asp or request instructions by sending an e-mail to jcrew@dfking.com or calling D.F. King & Co., Inc., the information agent for the Exchange Offer and Consent Solicitation, at 800-714-3306 (U.S. Toll-free) or 212-269-5550 (Collect).

The New Securities will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any other applicable securities laws and, unless so registered, the New Securities may not be offered, sold, pledged or otherwise transferred within the United States or to or for the account of any U.S. person, except pursuant to an exemption from the registration requirements thereof.  Accordingly, the New Securities are being offered and issued only (i) to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) and (ii) to non-“U.S. persons” who are outside the United States (as defined in Regulation S under the Securities Act). Non U.S.-persons may also be subject to additional eligibility criteria.

The complete terms and conditions of the Exchange Offer and Consent Solicitation are set forth in the informational documents relating to the Exchange Offer and Consent Solicitation. This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell the New Securities.  The Exchange Offer and Consent Solicitation are only being made pursuant to the Confidential Offering Memorandum and Consent Solicitation Statement and the related letter of transmittal.  The Exchange Offer is not being made to holders of Old Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.

Cautionary Note Regarding Forward-Looking Statements

Certain statements herein, including statements regarding the Exchange Offer and Term Loan Transactions, are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company’s current expectations or beliefs concerning future events, and actual results of operations may differ materially from historical results or current expectations. Any such forward-looking statements are subject to various risks and uncertainties, including the Company’s substantial indebtedness and the indebtedness of its indirect parent, the retirement, repurchase or exchange of its indebtedness or the indebtedness of its indirect parent, its substantial lease obligations, its ability to anticipate and timely respond to changes in trends and consumer preferences, the strength of the global economy, declines in consumer spending or changes in seasonal consumer spending patterns, competitive market conditions, its ability to attract and retain key personnel,  its ability to successfully develop, launch and grow its newer concepts and execute on strategic initiatives, product offerings, sales channels and businesses, its ability to implement its growth strategy, material disruption to its information systems, its ability to implement its real estate strategy, adverse or unseasonable weather, interruptions in its foreign sourcing operations, and other factors which are set forth in the section entitled “Risk Factors” and elsewhere in the Offering Memorandum and in the Company’s Annual Report on Form 10-K, Quarterly Report on Form 10-Q and in all filings with the SEC made subsequent to the filing of the Form 10-Q. Because of the factors described above and the inherent uncertainty of predicting future events, the Company cautions you against relying on forward-looking statements, whether as a result of new information, future events or otherwise.

About J.Crew Group, Inc.

J.Crew Group, Inc. is an internationally recognized omni-channel retailer of women’s, men’s and children’s apparel, shoes and accessories. As of June 12, 2017, the Company operates 278 J.Crew retail stores, 117 Madewell stores, jcrew.com, jcrewfactory.com, the J.Crew catalog, madewell.com, and 178 factory stores (including 39 J.Crew Mercantile stores). Certain product, press release and SEC filing information concerning the Company are available at the Company’s website www.jcrew.com.

SOURCE: J.Crew Group, Inc.

FMI honors Michael R. Taylor as its 2017 Esther Peterson Award winner

FMI honors Michael R. Taylor as its 2017 Esther Peterson Award winner

 

CHICAGO, 2017-Jun-13 — /EPR Retail News/ — Food Marketing Institute (FMI) today (Jun 12, 2017) honors a stalwart champion of the consumer, Michael R. Taylor, as its 2017 Esther Peterson Award winner. Similar to the award’s namesake, Taylor has long supported the right of every consumer to safe, nutritious, affordable food, a commitment for which he was recognized at an FMI event for future food industry leaders.The Esther Peterson Award for Consumer Service historically has honored influencers across the fields of science, journalism, business, government and consumer advocacy. The award annually recognizes an individual who has served consumers in a significant way, and this year, Taylor becomes its 18thinductee.

Taylor began his public service as a staff lawyer at the U.S. Food and Drug Administration (FDA) and he served later as FDA’s deputy commissioner for policy and, most recently, as the agency’s first deputy commissioner for foods and veterinary medicine.  He also served at the U.S. Department of Agriculture (USDA) as administrator of the Food Safety and Inspection Service. Taylor led the overhaul of USDA’s meat safety program following the Jack in the Box E. coli outbreak in 1993, including making meat and poultry producers accountable for preventing pathogen contamination in raw products; and he led FDA’s implementation of the sweeping food safety reforms mandated by Congress in the Food Safety Modernization Act of 2011 (FSMA).

FMI President and CEO Leslie G. Sarasin paid tribute to Taylor’s commitment to the rigor of food safety protocols saying, “Mike strives to make food safer; he courageously fights for consumer trust and transparency along the supply chain, artfully negotiating with opponents who were not necessarily in favor of change.” Sarasin continued, “We, too, in the food retail industry have definitely had our share of medicine to swallow, especially with regard to the laborious processes associated with the implementation of the Food Safety Modernization Act, but Mike was committed to understanding our challenges and to finding new ways for us to work with government to identify appropriate remedies to make the regulations work for our businesses.”

Sarasin said, “Mike has consistently demanded accountability in business to meet the demands of the consumer. When he stepped down from FDA in 2016, Food Safety News recounted, ‘When the changes Taylor made during the Clinton Administration are combined with those he’s made during the Obama Administration, he is easily the most significant person in food safety to come along in the last century.’ Today, we celebrate Mike’s significance for the food retail world, and ultimately, the shopper.”

Taylor maintains that food safety, food security, and the overall success of the food system are inextricably linked, which was his rationale for joining the Meridian Institute where he works today on projects that bring people together to make progress on food safety and food security. Taylor currently focuses his efforts in Africa.  He is also on the board of STOP Foodborne Illness, which represents illness victims and their families in the United States, advocates for effective food safety regulatory programs, and works with food companies to support the development of strong food safety cultures.

Food Marketing Institute proudly advocates on behalf of the food retail industry. FMI’s U.S. members operate nearly 40,000 retail food stores and 25,000 pharmacies, representing a combined annual sales volume of almost $770 billion. Through programs in public affairs, food safety, research, education and industry relations, FMI offers resources and provides valuable benefits to more than 1,225 food retail and wholesale member companies in the United States and around the world. FMI membership covers the spectrum of diverse venues where food is sold, including single owner grocery stores, large multi-store supermarket chains and mixed retail stores. For more information, visit www.fmi.org and for information regarding the FMI foundation, visit www.fmifoundation.org.

Contact:

Heather Garlich
Senior Director, Media and Public Relations
media@fmi.org
202-220-0616

Source: FMI

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FMI recognized Debbie and Rudy Dory of Newport Avenue Market with Robert B. Wegman Award for Entrepreneurial Excellence

FMI recognized Debbie and Rudy Dory of Newport Avenue Market with Robert B. Wegman Award for Entrepreneurial Excellence

 

CHICAGO, 2017-Jun-13 — /EPR Retail News/ — Today (Jun 12, 2017), in front of several hundred of the next generation of industry leaders, Food Marketing Institute (FMI) awarded Debbie and Rudy Dory of Newport Avenue Market in Bend, Oregon its Robert B. Wegman Award for Entrepreneurial Excellence. With focus on a healthy diet and a sense of humor, the Dorys’ single-store, employee-owned operation epitomizes this award for grocery innovators.

FMI President and CEO Leslie G. Sarasin said, “Rudy and Debbie are as colorful as the vision they have for their community and they have kept their shoppers in Bend, Oregon, guessing since 1991. They are a small operation, but mighty in spirit, and they embolden their industry peers to push boundaries and delight consumers in inventive ways.”Sarasin continued, “I would argue that the store’s creative appeal stems from Debbie’s professional background as a florist, and the Dorys’ double-digit growth for five of the last six years could be attributed to the store’s diverse mix of specialty food offerings, housewares and a hands-on approach to delivering fresh products to the consumer.”

Rudy and Debbie epitomize shopper trends with a hyper-focus on local products, featuring more than 200 artisanal items. They remain at the forefront of technology, investing $2.5 million over the course of five years. These investments yielded digital shelf tag technology in the aisles, energy-saving refrigeration technology and total store lighting, and giving their shoppers secure payment options like Apple Pay. The company is also a trailblazer with regard to equal wages and most recently became an employee-owned company in 2015, which provides workers with an ownership interest in Newport Avenue Market.

The two are greatly engaged in the community through environmental, community and industry stewardship. The company reduced its landfill waste by nearly 60 percent in 2012, and it continues to be involved in hunger prevention, fundraising more than $200,000 for the Hunger Prevention Coalition of Central Oregon. In addition to his FMI tenure on the board of directors, independent operator committee and past chair of the public affairs committee and share group, Rudy has been a past board member of the United Way, the Bend Chamber of Commerce, and Rotary Club; and in 2000, he was named the Deschutes County United Way Volunteer Citizen of the Year. In addition, Newport Avenue Market was named Business of the Year by the Bend Chamber in 2014.

Debbie and Rudy have one daughter, Lauren Johnson, who holds the title of CEO at Newport Avenue Market and regularly earns acclaim in her own right.

Food Marketing Institute proudly advocates on behalf of the food retail industry. FMI’s U.S. members operate nearly 40,000 retail food stores and 25,000 pharmacies, representing a combined annual sales volume of almost $770 billion. Through programs in public affairs, food safety, research, education and industry relations, FMI offers resources and provides valuable benefits to more than 1,225 food retail and wholesale member companies in the United States and around the world. FMI membership covers the spectrum of diverse venues where food is sold, including single owner grocery stores, large multi-store supermarket chains and mixed retail stores. For more information, visit www.fmi.org and for information regarding the FMI foundation, visit www.fmifoundation.org.

Contact:

Heather Garlich
Senior Director, Media and Public Relations
media@fmi.org
202-220-0616

Source: FMI

###

FMI honored industry veteran Peter V. “Greg” Gregerson with Glen P. Woodard Award for Public Affairs

FMI honored industry veteran Peter V. “Greg” Gregerson with Glen P. Woodard Award for Public Affairs

 

Chicago, 2017-Jun-13 — /EPR Retail News/ — Food Marketing Institute (FMI) today (Jun 12, 2017) recognizes Peter V. “Greg” Gregerson, president and CEO of Gregerson’s Food and Pharmacy Inc., for two decades of government relations advocacy for FMI and the food retail industry on Capitol Hill in both Washington, D.C., and Montgomery, Ala. FMI honored Gregerson with its Glen P. Woodard Award for Public Affairs at the organization’s professional development event, Future Leaders eXperience.

Gregerson’s three-store operation with a stand-alone drug store has been a mainstay in Gadsden, and consistent with the Woodard Award, Gregerson has been committed to his community and the greater industry at large by serving in a significant leadership capacity with the FMI Board of Directors as its vice chairman of FMI Public Affairs.

FMI Chief Public Policy Officer & Senior Vice President, Government Relations, Jennifer Hatcher recalled, “Greg was the first FMI member who greeted me personally when I came to work for FMI, as I had already known him and his stellar reputation from my work on Capitol Hill, and I’m witness to his deep dedication to our organization and the food industry – notably, in the two decades I’ve known him, he has not missed a single Day in Washington advocacy event.” Hatcher said, “He is devoted to critical industry issues such as swipe fee reform, most evident in his willingness to come back to Washington for a special plea to then Senate Banking Committee Chairman, Sen. Richard Shelby (R-AL) to preserve the 2010 debit reforms, which we argue have increased competition, fostered increased security and helped to contain costs.”

Hatcher further commended Gregerson’s sense of community in rallying around industry issues, even when some regulations he advocated for and against in Washington may not directly and immediately apply to his business. She said, “Greg doesn’t hesitate to wear a broad industry hat when he represents FMI in Washington. For instance, even though Greg is an independent operator, he remains resolute in his stance against the application of a chain restaurant menu labeling rule that has sweeping business implications for establishments with 20 or more locations. Since his representative is a key member of the U.S. House of Representatives Committee on Appropriations, Gregerson continues to play a strategic role in advocating for legislation that offers solutions for less costly and more flexible ways of sharing nutrition information with customers.”

Gregerson’s successes have been well documented. He received the Community Impact award in 2010 from the Gadsden Chamber of Commerce. He’s been named both Alabama Grocer of the Year (2011) and Retailer of the Year (2012) by the Alabama Grocers Association and Alabama Retail Association, respectively. He was also the Rotary Club’s Paul Harris Fellow.

In addition to his role with FMI, he continues to serve on a diverse set of boards that represent both business and community: the Alabama Grocers Association, WinSouth Credit Union, Gadsden Etowah Industrial Development Authority, Greenville, S.C., Shriners Hospital for Children and was recently reappointed by the Governor to the Alabama Small Business Commission.

Gregerson and his wife Marcy have four daughters and eight grandchildren.

Contact:

Heather Garlich
Senior Director, Media and Public Relations
media@fmi.org
202-220-0616

Source: FMI

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Food Marketing Institute releases its U.S. Grocery Shopper Trends 2017 analysis

Food Marketing Institute releases its U.S. Grocery Shopper Trends 2017 analysis

 

CHICAGO, IL, 2017-Jun-13 — /EPR Retail News/ — Food Marketing Institute (FMI) today (Jun 12, 2017) released its U.S. Grocery Shopper Trends 2017 analysis, which reveals shopper demand for dimensions of transparency along the supply chain challenged by an evolving marketplace. The research signaled that U.S. grocery shoppers want more than just information; they desire transparency that engages them, offering assurances of food safety, the pursuit of health and wellness, the appetite for discovery and a closer connection to food.

FMI President and CEO Leslie G. Sarasin presented this year’s findings in front of more than 400 of the industry’s future leaders in Chicago at FMI’s professional development conference. Sarasin relayed, “[Consumers] can handle the truth, and the information they do want to know, they want delivered in a clear, forthright, trustworthy and easy-to-find way that conveys some sense of vulnerability and openness. This is a crucial area because I think honest clarity is the currency of trust in the digital age.”

While less traditional retailers enjoy more grocery traffic and shopper loyalty, FMI Trends data note that eight percent of shoppers still claim to have “no primary store.” Limited assortment (25%), natural (17%), convenience (11%), ethnic (11%) and online only (11%) food stores are increasingly frequented by shoppers. This is particularly significant because this year the research suggests how comfortable Millennials have suddenly become with using online shopping for their grocery needs, although they still order only a limited breadth of food products online.

Sarasin insisted that the unpredictable state of the marketplace demands a strategy to help transform a retailer from “just a store” to an ally. According to the Trends findings, overall shopper ratings of how well stores are meeting their needs favor those retail channels that lead in transparency, including natural and organic, online-only, club, fresh-focused, and midmarket  traditional grocery stores. Conversely, retail channels trailing in transparency include discount, convenience, supercenter, limited, dollar, drug and value-focused. Consumers continue to view their primary store also as a primary ally in their wellness pursuits (45%).

The analysis cites dimensions of transparency that can help retailers better connect consumers with the broader context of their food, notably a retailer that demonstrates easy access to relevant information, clear quality standards, proactivity and accountability, fair treatment of employees and openness about business practices. In fact, the findings describe the way consumers rank fresh-focused traditional grocery stores and natural and organic stores, above value-focused traditional supermarkets across all dimensions of transparency.

Emphasizing that transparency lends relevance to the retailer-shopper relationship, Sarasin said, “In the competitive food retail landscape and in an age in which information moves faster and faster, the consumer demand for clear and honest answers offers a zip-line to confidence in the complex food system.”

Food Marketing Institute proudly advocates on behalf of the food retail industry. FMI’s U.S. members operate nearly 40,000 retail food stores and 25,000 pharmacies, representing a combined annual sales volume of almost $770 billion. Through programs in public affairs, food safety, research, education and industry relations, FMI offers resources and provides valuable benefits to more than 1,225 food retail and wholesale member companies in the United States and around the world. FMI membership covers the spectrum of diverse venues where food is sold, including single owner grocery stores, large multi-store supermarket chains and mixed retail stores. For more information, visit www.fmi.org and for information regarding the FMI foundation, visit www.fmifoundation.org.

Contact:

Heather Garlich
Senior Director, Media and Public Relations
media@fmi.org
202-220-0616

Source: FMI

###

FMI announces winners of the 2017 Store Manager Awards

FMI announces winners of the 2017 Store Manager Awards

 

CHICAGO, IL, 2017-Jun-13 — /EPR Retail News/ — Food Marketing Institute (FMI) today (Jun 12, 2017) celebrates the winners of the 2017

Store Manager Awards announced at Future Leaders eXperience. Their commitment to their communities, stores, and remarkable leadership in food retail stood out among 100 nominees.President and CEO, Food Marketing Institute, Leslie G. Sarasin said, “In today’s shifting food retail landscape, store managers must possess a unique mixture of skills to keep their stores on a successful path of smooth operations, quality customer service, meaningful community involvement and inviting shopping atmosphere.  It’s clear the exemplary leadership demonstrated by each of the winners inspires their teams to daily do their best, lean into challenges and stay a step ahead.”

The 2017 Store Manager Awards winners each receive a $1,000-prize and a crystal award. In addition to its traditional awards, FMI continued to host the “People’s Pick” Facebook contest that received more than 6,900 votes. The winner of the “People’s Pick” receives a special trophy and $500 to celebrate his or her store’s employees. Learn more about the finalists and winners at FMI.org/StoreManagerAwards.

The 18th annual Store Manager Award Winners are:

Category A: (1-49 stores)
Gary Casterline, ShopRite of Hunterdon County, Phillipsburg, New Jersey

Category B (50-199 stores)
Ricky Myers, D&W Fresh Markets, SpartanNash, Grand Rapids, Michigan

Category C (200+ stores)
Sally Angulo, Fry’s Food Stores, The Kroger Co., Phoenix, Arizona

Category D (International)
Clive Gould, SPAR Glenacres, Kempton Park, Johannesburg, South Africa

2017 Store Manager People’s Pick
John Snavely, Food 4 Less, The Kroger Co., Coachella, California

Food Marketing Institute proudly advocates on behalf of the food retail industry. FMI’s U.S. members operate nearly 40,000 retail food stores and 25,000 pharmacies, representing a combined annual sales volume of almost $770 billion. Through programs in public affairs, food safety, research, education and industry relations, FMI offers resources and provides valuable benefits to more than 1,225 food retail and wholesale member companies in the United States and around the world. FMI membership covers the spectrum of diverse venues where food is sold, including single owner grocery stores, large multi-store supermarket chains and mixed retail stores. For more information, visit www.fmi.org and for information regarding the FMI foundation, visit www.fmifoundation.org.

Contact:

Heather Garlich
Senior Director, Media and Public Relations
media@fmi.org
202-220-0616

Source: FMI

###

Stella McCartney unveils short film celebrating her first AW menswear collection

London, 2017-Jun-13 — /EPR Retail News/ — Tonight (June 12, 2017) Stella McCartney celebrated her first AW menswear collection with a reveal of a short film directed by Sean Ellils featuring Cillian Murphy. The premiere of the film was part of a pub lock in at the Ye Olde Mitre in which guests were also entertained with karaoke and traditional English pub games.

Guests that joined Stella McCartney at the event this evening included: Sean Ellis, Steven Tyler, Mary McCartney, Steve Coogan, Presley Gerber, Heloise Letissier, Lucie de la Falaise, Isaac Carew and many more.

Guests at the event enjoyed traditional pub treats such as vegetarian hot dogs, chips, pulled pork burgers, homeslice pizza, chocolate bread pudding, Guinness, Pimm’s and Casamigos cocktails.
The film will be released globally on Monday 12th June to celebrate the launch of the menswear collection on www.stellamccartney.com

Source: Stella McCartney

Diebold Nixdorf and Samsung SDS America present mobile-based biometric authentication approach at Digital Banking conference

Technology leaders simplify authentication and strengthen security with mobile facial recognition

NORTH CANTON, Ohio and RIDGEFIELD PARK, N.J., 2017-Jun-13 — /EPR Retail News/ — Diebold Nixdorf, the leader in driving connected commerce, and Samsung SDS America (“Samsung”) are teaming up to showcase how integrating advanced mobile technology—such as facial recognition—and the self-service channel can lead to enhanced security and an improved consumer experience. The companies will jointly demonstrate the mobile-based biometric authentication approach at this year’s Digital Banking conference in Austin, Texas, June 12-14.

The mobile-based transaction uses Samsung SDS Nexsign™ —a FIDO compliant biometric authentication platform—which includes facial recognition technology paired with the ATM to complete a secure and convenient cardless cash withdrawal in seconds. While banks have deployed cardless solutions, Samsung SDS demonstrates the use case without the need for a card or PIN—a leap forward in convenience without sacrificing security.

To maximize consumer convenience, the innovative approach enables consumers to stage a withdrawal via their mobile banking app prior to arrival. Once they approach the ATM, the consumer simply taps their Samsung Galaxy S8 mobile device to the near field communications (NFC) reader on the ATM, confirms their transaction and instantly receives a prompt to complete authentication via facial recognition on their mobile device. Once verified, cash will dispense and the transaction is complete in less than half the time of a standard ATM transaction. This technology and experience can also support customers using other Android and iOS devices.

“As an industry leader in enabling cardless transactions at the ATM, our comprehensive solutions are bridging the physical and digital worlds of cash to truly drive connected commerce,” said Alan Kerr, Diebold Nixdorf senior vice president, software. “Co-innovation lies at the heart of how Diebold Nixdorf does business. We are excited to be working with Samsung to showcase innovative solutions that utilize the trusted ATM channel to merge cash and mobile in a seamless, convenient and highly secure way.”

Samsung was an early member of the FIDO Alliance, the world’s largest ecosystem for standards-based, interoperable authentication. This ecosystem enables enterprises and service providers to deploy strong authentication solutions and protect against attacks.

“Samsung is making it easier for consumers to interact with their banks and ATMs using biometric information and eliminating the need for a physical card and PIN,” said Scott Koo, CEO of Samsung SDS America. “We have already shown how this works with Samsung Pay and now have extended this functionality to provide a faster and secure approach to cardless transactions.”

Banco Popular de Puerto Rico plans to pilot this authentication method this summer and has already worked with Samsung and their biometric authentication platform.

“Partnerships such as this one is particularly what we, at Popular, work at every day; collaboration at its very best. We continuously work to develop and implement features that make our clients’ lives easier while keeping at the forefront of innovation, focused on our mobile offering while enhancing security by leveraging biometric authentication. We are proud to be part of such an important milestone and look forward to what the future brings,” said Rachid Molinary, senior vice president of Digital Strategy for Banco Popular de Puerto Rico.

About Samsung SDS America

Samsung SDS America (SDSA) is the U.S. subsidiary of Samsung SDS, a global software solutions and IT services company. Samsung SDSA provides software and solutions for enterprise mobility, security, analytics, andIoT. We enable our customers in government, financial services, retail and other industries to drive business in a hyper-connected economy by helping them increase productivity, safeguard assets, and make smarter decisions.

About Banco Popular

Founded in 1893, Popular, Inc. (NASDAQ: BPOP) is the leading banking institution by both assets and deposits in Puerto Rico and ranks among the top 50 U.S. banks by assets. In the United States, Popular has established a community-banking franchise providing a broad range of financial services and products with branches in New York, New Jersey and South Florida, operating under the name “Popular Community Bank.”

About Diebold Nixdorf

Diebold Nixdorf, Incorporated (NYSE: DBD) is a world leader in enabling connected commerce for millions of consumers each day across the financial and retail industries. Its software-defined solutions bridge the physical and digital worlds of cash and consumer transactions conveniently, securely and efficiently. As an innovation partner for nearly all of the world’s top 100 financial institutions and a majority of the top 25 global retailers, Diebold Nixdorf delivers unparalleled services and technology that are essential to evolve in an ‘always on’ and changing consumer landscape.

Diebold Nixdorf has a presence in more than 130 countries with approximately 24,000 employees worldwide. The organization maintains corporate offices in North Canton, Ohio, USA and Paderborn, Germany. Visit www.DieboldNixdorf.com for more information.

Diebold Nixdorf Media Relations:
Kelly Piero
+1-330-490-3741
kelly.piero@dieboldnixdorf.com

Diebold Nixdorf Investor Relations:
Steve Virostek
+1-330-490-6319
steve.virostek@dieboldnixdorf.com

Samsung SDS America Media Relations
Diane Carlson
+1- 201-229-4727
d.carlson@samsung.com

SOURCE: Diebold Nixdorf

Nine lucky customers win at Alshaya’s PRIVILEGES CLUB first quarterly Super Draw

Nine lucky customers win at Alshaya’s PRIVILEGES CLUB first quarterly Super Draw

 

Alshaya’s PRIVILEGES CLUB holds first quarterly Super Draw

Kuwait, 2017-Jun-13 — /EPR Retail News/ — Nine lucky customers have won prizes worth totaling more than AED 800,000 through the UAE’s newest loyalty programme, PRIVILEGES CLUB, which offers a range of benefits to customers of the 80-plus retail brands operated by leading international retail franchise operator M.H. Alshaya Co.

Alshaya’s retail and dining brands include Starbucks, H&M, Mothercare, Debenhams, Victoria’s Secret, M.A.C., Bath & Body Works, P.F. Chang’s, The Cheesecake Factory, Boots, and Pottery Barn.

PRIVILEGES CLUB gives Alshaya’s customers automatic entry into monthly and quarterly prize draws, and access to a range of personalised shopping, dining and lifestyle experiences – including priority notification of promotions and sales for their favourite brands.

The UAE’s first quarterly Super Draw saw one winner receive the top prize of AED 200,000, three winners of AED 100,000 each, and five winners of AED 60,000 each, all payable in Alshaya Gift Cards redeemable at any Alshaya outlet. The draw was made in the presence of a representative from Dubai Economic Development. Customers who spend more than AED 12,000 per quarter qualify for the Super Draw. The next Super Draw winners will be announced in August, based on their spending in May, June, and July.

Opportunities to win don’t just come once a quarter. Members of the PRIVILEGES CLUB can also win monthly prizes worth a total of AED 140,000, earning one prize draw entry for every AED 60 they spend at any of the 750 stores, cafes and restaurants operated by Alshaya in the UAE.

“We want to create connections with our customers, offering them a shopping experience they enjoy so much that they want to come back,” said Johnny Morris, Director of CRM and Digital at M.H. Alshaya Co. “These PRIVILEGES CLUB prize draws are one of the ways we can say ‘thank you’ to our customers for their loyalty.”

PRIVILEGES CLUB is open to everyone in UAE. It is quick and easy to join, and members can use a mobile app to follow their favourite brands, track their benefits and access their rewards more easily. Joining is as simple as downloading the PRIVILEGES CLUB app from the App Store or Google Play, or signing up in-store.

Details of all Alshaya’s brands, plus monthly and quarterly winners are published on the PRIVILEGES CLUB app and on http://www.alshaya.com/en/privileges-club. Customers can also connect with the programme on www.facebook.com/ThePrivilegesClub/ and www.instagram.com/theprivilegesclub/

Media Contact:

+965 2224 2475
+965 2224 3626
communications@alshaya.com

Source: Alshaya

###

NCR launches latest omni-channel banking solutions to help Indian banks in digital and omni-channel transformations

NCR’s omni-channel solutions and innovative software platforms provides banks the flexibility to adopt emerging technologies and reduce operating costs

MUMBAI, India, 2017-Jun-13 — /EPR Retail News/ — NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions, today (June 12, 2017) unveiled its suite of integrated CxBanking solutions to help financial institutions (FIs) in India to navigate digital and omni-channel transformations while improving speed-of-service, reducing downtime and enhancing customer experience.

The solution launch event, which showcased NCR’s CxBanking portfolio via a ‘bank-in-a-box’ concept, was attended by more than 100 banks. NCR customers were given a first-hand view of NCR’s latest omni-channel banking solutions through exciting live demonstrations. Driven by technology and design philosophy that places the user experience at the core, the ‘bank-in-the box’ concept featured innovative self-service solutions with contemporary design and user interface to advance the future of connected commerce.

At the helm of the showcase was NCR Connected Payments, a secure payment solution delivering uncompromised data protection and future innovation readiness. Implemented as a software-as-a-service (SaaS) solution, NCR Connected Payments offers a secure payment route and ensures complete data and transmission protection, from PIN pad to payment processor. It allows banks to easily comply with evolving payment regulations and standards, such as PCI DSS (Payment Card Industry Data Security Standard) and EMV (Europay, MasterCard and Visa), and offers them the freedom to work with any payment processor and peripheral vendor.

“Customer retention and having always available banking services remains a key strategy for businesses today and NCR is at the forefront of delivering innovations to meet industry expectations,” said Navroze Dastur, managing director, NCR Corporation India. “Our next generation of online and mobile banking services launched today, complements traditional person-to-person interactions and creates an ‘always available’ banking environment; that gives consumers the flexibility and control to manage transactions when they want and at the platform of their choice.”

NCR showcased a host of innovative technologies that help financial institutions to implement convenient customer-centric technology that provides exceptional customer experience across digital and physical channels.

Some of the key solutions showcased today, include:

  • NCR Cx110, the first thin-client ATM to run with Kalpana, cloud based, thin-client enterprise software  for ATMs that runs on the Android operating system
  • NCR Interactive Teller – that enables banks to offer their customers the benefits of both self-service video banking and the branch experience in one solution, closing the “intimacy gap.”
  • SelfServ ATMs with cash deposit and recycling facilities
  • Mobile cash withdrawals
  • Financial Services Kiosk for instant account opening and card issuance
  • NCR Fractals – fraud detection and prevention solution

According to the Global ATM Markets and Forecasts 2021 report from Retail Banking Research (RBR), NCR continues to lead the India ATM market with 49% market share and more than 100,000 ATMs currently deployed. The number of ATMs in India is forecasted to reach around 407,000 by 2021, which would represent growth of over 90% on the 2016 figure of 214,500 and equals a CAGR of 11%.

The approach of constant innovation in market-relevant technology solutions has earned NCR its market leadership position since its entry in India 21 years ago. NCR provides solutions to serve financial services, retail, telecom & technology industries in India.

About NCR Corporation
NCR Corporation (NYSE: NCR) is a leader in omni-channel solutions, turning everyday interactions with businesses into exceptional experiences. With its software, hardware, and portfolio of services, NCR enables nearly 700 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier.

NCR is headquartered in Duluth, Ga., with over 30,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries.

Web sites: www.ncr.com
Twitter: @NCRCorporation
Facebook: www.facebook.com/ncrcorp
LinkedIn: www.linkedin.com/company/ncr-corporation
YouTube: www.youtube.com/user/ncrcorporation

News Media Contacts:
Rakesh Aulaya
NCR Public Relations
+91 22 619 45 83
rakesh.aulaya@ncr.com

Source: NCR Corporation

NCR Chairman and CEO Bill Nuti recognized with the inaugural ATM Industry Association Lifetime Global Innovation Award

Duluth, Ga. and LONDON, 2017-Jun-13 — /EPR Retail News/ — NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions, today (June 12, 2017) announced that Bill Nuti, the company’s Chairman and CEO, has received the inaugural ATM Industry Association (ATMIA) Lifetime Global Innovation Award.

Introduced to mark the 50th anniversary of the ATM, this award recognizes truly outstanding contributions that individuals have made to innovation in the ATM industry, as well as other associated industries.

“Bill is a pioneering leader who has propelled innovation at NCR, and is reinventing how companies engage and connect with customers in the digital economy,” said Ron Delnevo, Executive Director, ATMIA Europe.  “So in this 50th anniversary year of an invention which has transformed financial services forever, it is an honor to bestow this award on Bill.”

As the world’s first ATM installation occurred in Greater London, ATMIA presented its inaugural award at a gala dinner and award ceremony prior to the ATM & Cash Innovation Europe 2017 Conference, London, June 13 – 14.

A panel of ATMIA executives, in consultation with senior industry figures, decided Bill would receive this important recognition.

The introduction of the ATM transformed consumer banking around the world and the last 50 years have seen continuous advancements in ATM solutions, ensuring their position as vital components in the banking infrastructure.

About NCR Corporation
NCR Corporation (NYSE: NCR) is a leader in omni-channel solutions, turning everyday interactions with businesses into exceptional experiences. With its software, hardware, and portfolio of services, NCR enables nearly 700 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier.

NCR is headquartered in Duluth, Ga., with over 30,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries. NCR encourages investors to visit its web site which is updated regularly with financial and other important information about NCR.

Web site: www.ncr.com
Twitter: @NCRCorporation
Facebook: www.facebook.com/ncrcorp
LinkedIn: www.linkedin.com/company/ncr-corporation
YouTube: www.youtube.com/user/ncrcorporation

About the ATM Industry Association
The ATM Industry Association is a global not-for-profit trade association, with over 9000 members from around 650 companies in 67 countries. Its mission is to promote ATM convenience, growth and usage worldwide; protect the ATM industry’s assets, interests, good name and public trust; and provide education, best practices, political voice and networking opportunities for member organisations.

Web site: www.atmia.com
Twitter:  @ATM_Industry
LinkedIn: www.linkedin.com/company/atmia
YouTube: www.youtube/user/TheATMIA

News Media Contacts:
Scott Sykes
NCR
212.589.8428
scott.sykes@ncr.com

Elizabeth Jones
ATMIA
+44(0)2072497769
ATMIA@withpr.co.uk

Source: NCR Corporation

The Gymboree Corporation signs Restructuring Support Agreement with majority of its Term Loan Lenders

Company Continues to Operate Business As Usual Restructuring Facilitated through Voluntary Chapter 11 Filing Will Reduce Debt by Over $900 Million Vast Majority of Trade Creditors Critical to Business Expected to be Paid in Full Secures $35 Million in New-Money Financing to Support Operations

San Francisco, 2017-Jun-13 — /EPR Retail News/ — The Gymboree Corporation (the “Company” or “Gymboree”) today ( June 11, 2017) announced that it has signed a Restructuring Support Agreement (“RSA”) with a majority of its Term Loan Lenders, securing critical stakeholder support for a comprehensive financial restructuring and recapitalization of the Company that will reduce Gymboree’s debt by more than $900 million, establish a sustainable capital structure and position the Company for long-term success.

“The steps we are taking today allow the Company to definitively address its debt and enable the management team to turn its full focus toward executing our key strategies, including our Product, Brand and Omni-channel initiatives,” said Daniel Griesemer, President and CEO of Gymboree. “The support of our lenders and their new financing commitment underscores their confidence in the Company. We have three great brands, strong operations and dedicated employees, and throughout this process, we will continue to deliver superior service to our customers and put them at the center of all we do. We expect to move through this process quickly and emerge as a stronger organization that is better positioned in today’s evolving retail landscape, with the right size store footprint and greater financial flexibility to invest in Gymboree’s long-term growth.”

To facilitate the financial restructuring and recapitalization, Gymboree today has elected to file voluntary Chapter 11 petitions (the “filing”) with the United States Bankruptcy Court for the Eastern District of Virginia (the “Bankruptcy Court”).

Gymboree expects to operate its overall business and the majority of its stores as usual during its financial restructuring. To this end, the Company has secured commitments for $35 million in new-money debtor-in-possession (“DIP”) financing from a majority of its existing Term Loan Lenders and up to $273.5 million in additional DIP financing from the existing lenders under Gymboree’s asset backed loan credit facilities which, in addition to Gymboree’s ongoing cash flow, will ensure the Company is able to continue meeting its financial obligations throughout the Chapter 11 case.

Gymboree today filed its RSA in Bankruptcy Court, along with a series of first day motions seeking authority to pay employee wages and benefits, honor customer commitments and otherwise manage its day-to-day operations as usual.

Gymboree expects to pay vendors in the normal course for all goods and services delivered on or after June 11, 2017. Payment for goods and services delivered prior to the filing will be addressed through the Chapter 11 process. It is currently expected that trade vendors that are critical to the Company’s business will be paid in full for pre-petition claims under the terms of the Plan. The Company has also asked for authority to honor the pre-petition claims of its critical foreign and other critical vendors and expects to receive court approval for these requests.

Additionally, the Company announced today that Andrew North is stepping down as CFO for personal reasons. Mr. North will remain with the Company for a period of time as a consultant. Liyuan Woo, Director at AlixPartners, has been appointed as Interim Chief Financial Officer, while the Company searches for a replacement for Andrew North. James A. Mesterharm, Managing Director and Co-Lead Turnaround & Restructuring Services at AlixPartners, has been appointed as Chief Restructuring Officer.

“Liyuan and Jim bring significant financial and restructuring experience to Gymboree and we are pleased to have them join the team,” continued Daniel Griesemer. “On behalf of the Board, I would like to thank Andy for his leadership, hard work and dedication to Gymboree.” Additional information regarding Gymboree’s financial restructuring is available at www.gymboreerestructuring.com. Court filings and information about the claims process are available at https://cases.primeclerk.com/gymboree or by calling Gymboree’s claims agent, Prime Clerk, at 844-822-9233 (or 646-486-7945 for international calls) or by sending an email to gymboreeinfo@PrimeClerk.com.

Kirkland & Ellis LLP is serving as the Company’s legal counsel, AlixPartners LLP is serving as its financial advisor, and Lazard is serving as its investment bank.

About The Gymboree Corporation
The Gymboree Corporation’s specialty retail brands offer unique, high-quality products delivered with personalized customer service. As of April 29, 2017, the Company operated a total of 1,281 retail stores: 582 Gymboree® stores (532 in the United States, 49 in Canada and 1 in Puerto Rico), 172 Gymboree Outlet stores (171 in the United States and 1 in Puerto Rico), 149 Janie and Jack® shops (148 in the United States and 1 in Puerto Rico) and 378 Crazy 8® stores in the United States. The Company also operates online stores at www.gymboree.com, www.janieandjack.com, and www.crazy8.com.

Forward-Looking Statements
This press release includes forward-looking statements, including the Company’s expectations regarding the development and results of its restructuring process, its liquidity, access to capital and business operations during the pendency of the bankruptcy proceedings. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project” and other words of similar meaning. Each forward-looking statement contained in this press release is based on assumptions and information available to the Company at the time of this press release. Forward-looking statements involve risks and uncertainty, including, but not limited to, the risk that the Company’s restructuring may not be consummated in a manner beneficial to the Company and its operations; risks and uncertainties associated with the length of time the Company will operate as a debtor-in-possession, which is not yet known; risks associated with the bankruptcy process and third-party motions in the Chapter 11 proceedings, which may hinder or delay the Company’s ability to consummate its restructuring; the ability of the Company to obtain and maintain normal terms with customers, suppliers and service providers; the Company’s ability to maintain contracts that are critical to its operations during Chapter 11 proceedings; the Company’s financial performance and results; availability of sufficient cash flow to operate the Company, including to fund capital expenditures, during the Chapter 11 proceedings; demand for its products; and the risk factors set forth in the Company’s Transition Report on Form 10-K for the 26 weeks ended July 30, 2016 as filed with the Securities and Exchange Commission on October 28, 2016 and in subsequent reports filed with the SEC.
The Company’s actual results could differ materially from those expressed in, or implied by, the forwardlooking statements. The Company can give no assurances that any of the events anticipated by the forward-looking statements will occur or, if they do, what impact they will have on the Company’s results of operations and financial condition. The Company cautions investors to carefully consider the risks associated with, and not to place considerable reliance on, the forward-looking statements contained in this press release. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof except as required by law. All forward-looking statements are qualified in their entirety by this cautionary statement.

Gymboree, Janie and Jack, and Crazy 8 are registered trademarks of The Gymboree Corporation.

Contacts:
Leigh Parrish / Joe Millsap
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449 / (415) 869-3950

Source: Gymboree

United Pet Group recalls multiple brands of rawhide dog chew products that may be contaminated with chemicals

ST. LOUIS, 2017-Jun-13 — /EPR Retail News/ — United Pet Group is voluntarily recalling multiple brands of packages of rawhide dog chew products after they identified that certain of its rawhide chew manufacturing facilities located in Mexico and Colombia, as well as one of its suppliers in Brazil, were using a quaternary ammonium compound mixture as a processing aid in the manufacturing of rawhide chews. The compound is an anti-microbial chemical that is approved for cleaning food processing equipment, but it has not been approved in the U.S. as a processing aid in the production of rawhide chews for dogs.

United Pet Group received very limited reports of pet illness based on the volume of possibly affected rawhide chew products manufactured and distributed. The primary complaint received from consumers was that the affected product had an unpleasant odor. Diarrhea and vomiting were also reported.

Schnucks customers are urged to check for:

Digest-eeze Chips, 3.5 oz.
UPC: 9109328716
Expiration Dates: 06/01/2019 – 05/31/2020
Lot Codes that begin with: AH, AV, A, AI AO or AB

Digest-eeze Rolls, 3 ct.
UPC: 9109328718
Expiration Dates: 06/01/2019 – 05/31/2020
Lot Codes that begin with: AH, AV, A, AI AO or AB

Good n Fun Bone BF-CHK, 1 ct.
UPC: 9109382231
Expiration Dates: 06/01/2019 – 05/31/2020
Lot Codes that begin with: AH, AV, A, AI AO or AB

Good n Fun Bone PK-BF-CHK, 3 ct.
UPC: 9109382232
Expiration Dates: 06/01/2019 – 05/31/2020
Lot Codes that begin with: AH, AV, A, AI AO or AB

Good n Fit Bone Skin-Coat Beef, 5 ct.
UPC: 9109331224
Expiration Dates: 06/01/2019 – 05/31/2020
Lot Codes that begin with: AH, AV, A, AI AO or AB

Customers may return the specified products to their nearest Schnucks store for a full refund. Those with questions should contact the United Pet Group consumer affairs team at 1-855-215-4962 or the Schnucks Consumer Affairs department at 314-994-4400 or 1-800-264-4400.

Media Contact:

Paul Simon
314-994-4603
psimon@schnucks.com

Source: Schnucks

Yum! Brands, Inc. subsidiaries commence offering of $500 million aggregate principal amount of Senior Notes due 2027

LOUISVILLE, KY, 2017-Jun-13 — /EPR Retail News/ — Yum! Brands, Inc. (NYSE: YUM) (the “Company”) today (June 12, 2017) announced that its subsidiaries KFC Holding Co., Pizza Hut Holdings, LLC and Taco Bell of America, LLC, as co-issuers (together, the “Issuers”) have commenced an offering of $500 million aggregate principal amount of Senior Notes due 2027 (the “Notes”).

The Notes will be unsecured and will be guaranteed on a senior unsecured basis by the Company and the Company’s domestic subsidiaries that guarantee the Issuers’ outstanding $2.1 billion senior unsecured notes and the Issuers’ senior secured credit facility.  Net proceeds from the offering of the Notes will be used to pay the fees and expenses of the offering and to repay outstanding amounts under the Issuers’ revolving credit facility. The remainder of the net proceeds will be used to make a cash distribution to the Company to fund share repurchases, dividends and/or repayment of indebtedness.Consummation of the offering of the Notes is subject to market and other conditions, and there can be no assurance that this offering will be completed on the terms described above, or at all.

The Notes have not been and will not be registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements.  Accordingly, the Notes will be offered and sold in the United States only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) and to non-U.S. persons in offshore transactions outside the United States in accordance with Regulation S under the Securities Act. This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

RELEASE NOTICE

The releases contained on this page may contain dated information. Readers are cautioned that the releases on this page are maintained here solely for the purposes of providing historical background about Yum! Brands, its business and product offerings. As the releases may contain dated information, they should not be relied upon as providing accurate or current information. Yum! Brands disclaims any intention or obligation to update or revise any of the information contained in any of the releases on this page, whether as a result of new information, future events or otherwise.

Analysts are invited to contact:

Keith Siegner
Vice President
Investor Relations
Corporate Strategy and Treasurer
888/298-6986

Kelly Knybel
Director
Investor Relations
888/298-6986

Members of the media are invited to contact:

Virginia Ferguson
Director
Public Relations
502/874-8200

Source: Yum! Brands, Inc.

The Bon-Ton store at the Maine Mall in South Portland, Maine to close at the end of August, 2017

MILWAUKEE, 2017-Jun-13 — /EPR Retail News/ — The Bon-Ton Stores, Inc. (NASDAQ: BONT), today (June 12, 2017) announced it will close its Bon-Ton store at the Maine Mall in South Portland, Maine at the end of August, 2017. The closing will impact approximately 55 associates at this location.

“Bon-Ton evaluates its store portfolio on an ongoing basis to determine our stores long-term viability,” commented Steve Byers, Executive Vice President of Stores for The Bon-Ton Stores, Inc. Closing a store is never an easy decision and we would like to thank the customers who have shopped with Bon-Ton as well as our store associates for their dedication and friendly customer service to this community.”

The affected associates at the Bon-Ton Maine Mall location will receive career transition benefits, including severance, according to established practices and state employment service support.

The store will remain open until the end of August. Customers are invited to shop at the company’s website at bonton.com.

About The Bon-Ton Stores, Inc.
The Bon-Ton Stores, Inc., with corporate headquarters in York, New York and Milwaukee, Wisconsin, operates 261 stores, which includes 9 furniture galleries and four clearance centers, in 25 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner’s, Boston Store, Carson’s, ElderBeerman, Herberger’s and Younkers nameplates. The stores offer a broad assortment of national and private brand fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings. The Bon-Ton Stores, Inc. is an active and positive participant in the communities it serves. For further information, please visit thebontonstoresinc.com or the company’s web site at
bonton.com.

MEDIA CONTACT:
Christine Hojnacki
414-347-5329
christine.hojnacki@bonton.com

Source:  The Bon-Ton Stores, Inc.

Colruyt Group starts to convert 234 older stores into low-energy stores this year

Halle, Belgium, 2017-Jun-13 — /EPR Retail News/ — This year, Colruyt Group started to convert all of its older stores into low-energy stores this year. Over a 12-year period, 234 stores will be converted to energy-efficiency. The wave of conversions is a new step to create stores which do not use fossil fuel and to introduce innovative sustainable technologies. Thanks to this investment of around €75 million, Colruyt Group will reduce its CO2 emissions by at least 4% by 2029, creating a long-term leverage effect for the benefit of limiting climate change.

In 2007, Colruyt Group decided that all the new stores it built would only be low-energy stores. In order to reduce its impact on the environment, the group is now also busy converting the older stores it owns into low-energy stores. Over a 12-year period, 234 of the total 516 stores will be converted into low-energy stores. This mainly concerns Colruyt and Okay stores. By 2029, Colruyt Group hopes to own only low-energy stores. The goal is to convert an average of 20 stores per year. The first converted low-energy stores open this Wednesday in Knokke and Marcinelle.

“Low-energy conversion means that every store which is older than ten years that we own will be insulated and made more airtight, and we will revise the technologies where needed,” says Koen Baetens, director of Colruyt Group Technical Services. “Thanks to this investment, CO2 emissions from the whole group will drop by at least 4%. That corresponds to what 1,975 families emit each year for their heating.”

Green energy in place of fossil fuel

The large scale conversion wave is a necessary step to introduce innovative and sustainable technologies. By upgrading the stores, Colruyt Group will create an ideal platform for the future. Heat pumps will provide hot water for example, the refrigeration systems will operate on propene or propane gas, and the heating will run on heat recovery from refrigeration. These new technologies use 100% green electricity. This means that no fossil fuels such as fuel oil or natural gas are needed to run the stores. The first fossil fuel-free OKay stores will open in the autumn.

More pleasant working and shopping

In addition to a positive effect on the environment, the investment in low-energy stores also has an additional advantage. It allows us to avoid draughts, large temperature fluctuations and ensures a constant supply of fresh air in our stores. This increases comfort for our staff and customers, and will allow them to work and shop more comfortably.

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

Source: Colruyt Group