Macy’s launches limited-time collection KOBI by contemporary designer Kobi Halperin

Macy’s launches limited-time collection KOBI by contemporary designer Kobi Halperin

 

The limited-time collection includes blouses, sweaters, dresses, jackets, jumpsuits, pants and more, and will be available at 149 Macy’s stores and on macys.com August 15

NEW YORK, 2017-Aug-10 — /EPR Retail News/ — Macy’s today (Aug. 8, 2017) announced the release of KOBI, a limited-time collection created for Macy’s by contemporary designer Kobi Halperin, whose eponymous line has caught the fashion world by storm with its crafted artisan details and modern femininity. Imbued with soft silhouettes and intricate embellishments, the collection created for Macy’s officially available in stores and online Aug. 15 inspires women to celebrate getting dressed every day.

“The best part about being a designer is seeing the customer try on a piece and watching her body language completely change,” said Halperin. “I love how my collection has the ability to bring out both confidence and femininity, and I am excited to be able to share that with the Macy’s customer with this capsule collection I designed exclusively for them.”

The KOBI collection emanates a European sensibility that fosters a soignée approach to dressing. Elaborate lace adorns chic off-the-shoulder tops and elegantly cut blouses. Sweeping cape sweaters, a statement shawl-collar coat, bell-sleeve jackets, and expertly tailored blazers are rendered in luxurious textiles to magnificent effect. Skillfully draped dresses and a perfectly fitted jumpsuit skim the body and accentuate the waist without being overly body conscious for an easy sophistication that is head-turning in its subtlety. Beautifully tailored pants round out the KOBI collection, and they receive the breathtaking treatments that are the sui generis hallmarks of the line. The collection boasts a rich color palette comprised of Bordeaux, navy and black with pops of periwinkle, white and a cerebral print that adds depth.

“The KOBI collection embodies the bespoke-level attention to detail Kobi Halperin has become known for,” said Cassandra Jones, senior vice president of Macy’s fashion. “Every piece in the collection is incredibly special and serves to elevate the wearer and her wardrobe. The heart of this collection lies in making aspirational style accessible, and Kobi Halperin has delivered that to our customer in spades.”

Available on Macy’s mobile app and macys.com, the KOBI collection ranges from $79 to $299, and will officially launch in 149 Macy’s stores August 15.

About Macy’s

Macy’s, the largest retail brand of Macy’s, Inc. (NYSE:M) delivers fashion and affordable luxury to customers at approximately 670 locations in 45 states, the District of Columbia, Puerto Rico and Guam, as well as to customers in the U.S. and more than 100 international destinations through its leading online store at macys.com. Via its stores, e-commerce site, mobile and social platforms, Macy’s offers distinctive assortments including the most desired family of exclusive and fashion brands for him, her and home. Macy’s is known for such epic events as Macy’s 4th of July Fireworks and the Macy’s Thanksgiving Day Parade, as well as spectacular fashion shows, culinary events, flower shows and celebrity appearances. Macy’s flagship stores – including Herald Square in New York City, Union Square in San Francisco, State Street in Chicago, and Dadeland in Miami and South Coast Plaza in southern California – are known internationally and are leading destinations for visitors. Building on a more than 150-year tradition, and with the collective support of customers and employees, Macy’s helps strengthen communities by supporting local and national charities giving more than $54 million each year, plus 180,000 hours of volunteer service, to help make a difference in the lives of our customers.

For Macy’s media materials, including images and contacts, please visit our online pressroom at macys.com/pressroom.

About Kobi Halperin

Kobi Halperin, a veteran in the industry, launched his namesake collection in 2015, after serving as Creative Director for 20 years at numerous fashion houses. The label embodies a European sensibility and is recognized by its crafted artisan details and modern femininity. In its first season, the collection was picked up by Neiman Marcus, Saks Fifth Avenue, Bloomingdale’s, Nordstrom, Lord & Taylor, Shopbop and a select distribution of specialty stores. The collection today is accredited to being an aspirational yet accessible label that bridges the gap between timelessness and trend. In addition to continuing to build a dynamic brand with a global reach through smart design and a distinct point of view, Kobi also dedicates his time to mentoring and developing the future of fashion and is an active member of the CFDA.

Macy’s Media Relations:
Julie Strider
646-429-5213
julie.striderfukami@macys.com

Billy Dumé
646-429-7449
billy.dume@macys.com

Source: Macy’s

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Sainsbury’s expands its line-up of sportswear brands with officially licensed NFL clothing

Sainsbury’s expands its line-up of sportswear brands with officially licensed NFL clothing

 

  • Tie-up with NFL builds on Sainsbury’s growing line-up of sportswear brands
  • Initial online launch includes 8 T-shirts for each team playing in sold-out London games
  • Wider in-store offer with vintage-effect T-shirts, team hoodies and sweats will follow
  • American football is growing in popularity in the UK, with 13 million fans

London, 2017-Aug-10 — /EPR Retail News/ — As more Brits become fans of American football, Sainsbury’s has launched an exciting new partnership with America’s National Football League (NFL), to sell officially licensed sports apparel ahead of the start of the NFL season in September.

It’s the first time that officially licensed NFL clothing has been sold by a UK supermarket and the initiative strengthens Sainsbury’s existing line-up of successful sports brands which includes Russell Athletic, Admiral and the British Lions and Six Nations rugby kit.

This week and ahead of the NFL International Series taking place in London this summer, team T-shirts for all eight teams playing in the UK will be available on the Tu clothing website (£14). A range of NFL and American football inspired vintage-effect T-shirts are also on offer online and will become available in 123 stores nationwide from August.

To celebrate the end of the season and the Super Bowl, even more NFL team T-shirts, hoodies and sweatshirts will come on stream.

The NFL currently has 13 million UK fans1 and the sport is rapidly gaining more followers.  All four NFL games being played at Wembley and Twickenham this summer – the most London has ever hosted – have sold out.

The NFL collection joins a growing stable of sports brands on offer at Sainsbury’s. The retailer has recently seen a strong performance from its first official British Lions collection, as well as its well-established Six Nations rugby merchandise. Sainsbury’s has also sold clothing for Euro and World Cup Football tournaments.

Sainsbury’s Commercial Director, James Brown, said: “American football has become hugely popular in the UK, so we’re really excited that our customers can show their support with high quality, official NFL sportswear from Sainsbury’s. We’ve got a great track record on clothing for British sporting events and we’re confident that we’re onto another winner with our NFL licensed sportswear.”

Sainsbury’s is the UK’s sixth biggest clothing retailer by volume and tenth by value. Over the past three years, Tu clothing sales have grown by more than 20 per cent.

Contact:

press_office@sainsburys.co.uk
020 7695 7295

Source: Sainsbury

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Lowe’s and Boys & Girls Clubs of America launch new in-store donation program and Lowe’s Renovation Across the Nation

Lowe’s and Boys & Girls Clubs of America launch new in-store donation program and Lowe’s Renovation Across the Nation

 

ATLANTA, 2017-Aug-10 — /EPR Retail News/ — Hundreds of kids spending their afterschool time at the Preston Taylor Boys & Girls Club in Nashville, Tenn., on August 8 were surprised with a performance of hit songs from country music star Hunter Hayes. The surprise concert helped to launch Lowe’s and Boys & Girls Clubs of America’s new in-store donation program and Lowe’s Renovation Across the Nation, an annual $2.5 million initiative where Lowe’s gives a $50,000 grant and hands-on support from employee volunteers to one Boys & Girls Club in each of the 50 states to refurbish the facility. This year, customers can join the cause by donating at any Lowe’s store nationwide, now through Sept. 5.

Hayes took center stage at the Preston Taylor Boys & Girls Club’s music studio newly renovated by Lowe’s and designed for Club members to engage in musical expression and inspire a passion for the arts. Lowe’s is also granting Renovation Across the Nation funds and providing volunteers to help open a newly created music studio this fall at the Cleveland Park Club, also located in Nashville. Both music studios include a stage, recording booths, DJ platform and premium equipment, similar to popular recording studios nearby in Nashville and nationwide.

“I’m thrilled that the kids at Nashville area Boys & Girls Clubs will have access to these state-of-the-art recording studios, as I know firsthand the positive impact music plays on a young mind,” said Hayes. “From childhood to now, music, for me, has always been a platform for self-expression and inspiration to explore creative talents. Being a part of this partnership between Boys & Girls Clubs of America and Lowe’s is important to me, because I know creating a safe environment that allows kids and teens to discover their passions and grow will have a significant impact on their future success.”
Now in its second year, Renovation Across the Nation, the largest single initiative ever undertaken by Lowe’s and Boys & Girls Clubs of America, will bring renovations to 50 additional Clubs, one in each state. By the end of 2017, the initiative will have reached 100 Clubs with $5 million worth of renovations ranging from critical infrastructure upgrades to newly updated spaces for specific programming such as arts or sports, to lounge areas designed to help Clubs expand their teen membership.

“Lowe’s first teamed up with Boys & Girls Clubs of America in 2009 to improve Clubs across the country, knowing that youth are critical to the long-term health of our communities,” said James Frison, Lowe’s director of community relations. “With Renovation Across the Nation and our new in-store customer donation program, we’re taking our partnership to a new level by engaging customers who shop our stores and more than 1,000 Lowe’s employee volunteers nationwide to ensure teens and kids have a safe and inspiring place to go after school.”

Nearly four million youth in America, ages 6-18, spend out-of-school time at Boys & Girls Clubs, where they receive support and encouragement to reach their full potential. With the renewal of this $2.5 million grant from Lowe’s, Boys & Girls Clubs of America can continue to further enhance Club offerings and provide additional support for at-risk teens and children nationwide.

“Within the walls of every Boys & Girls Club, our dedicated staff and volunteers drive academic success, build good character, and influence health and wellness for our Club members to stay on the path to a great future,” said Jim Clark, president and chief executive officer of BGCA. “Our partnership with Lowe’s holistically impacts Clubs by addressing areas needing improvements while combining the skills and dedication of Lowe’s Heroes employee volunteers. Together we’re leaving a lasting mark on America’s youth, our Clubs, and our local communities.”

About Boys & Girls Clubs of America

For more than 150 years, Boys & Girls Clubs of America (GreatFutures.org) has enabled young people most in need to achieve great futures as productive, caring, responsible citizens. Today, 4,300 Clubs serve four million young people annually through Club membership and community outreach. Clubs are located in cities, towns, public housing and on Native lands throughout the country, and serve military families in BGCA-affiliated Youth Centers on U.S. military installations worldwide. They provide a safe place, caring adult mentors, fun, friendship, and high-impact youth development programs on a daily basis during critical non-school hours. Priority programs emphasize academic success, good character and citizenship, and healthy lifestyles. In a Harris Survey of alumni, 54 percent said the Club saved their lives. National headquarters are located in Atlanta. Learn more at http://www.bgca.org/facebook and http://bgca.org/twitter.

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

Media Inquiries:
704-758-2917
PublicRelations@Lowes.co

Source: Lowe’s Companies, Inc.

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Sonic Corp. appoints Jose A. Dueñas as EVP and chief brand officer

Sonic Corp. appoints Jose A. Dueñas as EVP and chief brand officer

 

OKLAHOMA CITY, 2017-Aug-10 — /EPR Retail News/ — Sonic Corp. (NASDAQ:SONC), the nation’s largest chain of drive-in restaurants, today (Aug 9, 2017) announced the appointment of Jose A. Dueñas as executive vice president and chief brand officer.

Dueñas will be responsible for the end-to-end customer experience including marketing and culinary innovation, digital strategy, consumer insights, guest relations, concept development and overall evolution of the SONIC brand for the long term. He joins the brand with more than two decades of marketing and brand senior leadership in the restaurant and consumer packaged goods industries, most recently leading same-store sales growth and profitability for Olive Garden where he served as executive vice president and chief marketing officer.

“I am delighted to welcome Jose to Sonic this month,” said Clifford Hudson, Sonic CEO. “His experience and impressive track record complements our recent appointment of Lori Abou Habib as chief marketing officer. Jose brings broad expertise and talent to Sonic; we are confident his leadership and expertise will support continued growth of our brand.”

In his five years with Olive Garden, Dueñas served as marketing lead with responsibility for brand strategy, food innovation, guest experience design, advertising and communications, digital and social media, market research and guest relations. Under his leadership the brand achieved 11 consecutive quarters of same-store sales growth, outperforming the industry. Dueñas joined Olive Garden after 15 years of progressively responsible positions at the Kellogg Company in the United States and Mexico.

The company also announced that its Board of Directors has approved the continuation of the Company’s quarterly cash dividend program. Beginning in the first fiscal quarter of 2018, the Company expects to declare a quarterly dividend of $0.16 per share of common stock, which represents an increase of 14% from the current quarterly dividend of $0.14 per share. As previously announced, a dividend of $0.14 per share is to be paid to shareholders of record as of the close of business on August 9, 2017, with a payment date of August 18, 2017. In addition to the dividend, the Board of Directors has approved an incremental $160 million share repurchase authorization. The new authorization allows for the repurchase of up to $160 million of common stock through the end of fiscal 2018.

Future declaration of quarterly dividends and the establishment of future record and payment dates are subject to the final determination of the company’s board of directors. Share repurchases may be made from time-to-time in the open market or otherwise, including through an accelerated share repurchase program, under the terms of a Rule 10b5-1 plan, in privately negotiated transactions or in round lot or block transactions.

About Sonic

SONIC, America’s Drive-In is the nation’s largest drive-in restaurant chain serving approximately 3 million customers every day. Nearly 94 percent of SONIC’s 3,500 drive-in locations are owned and operated by local business men and women. For 64 years, SONIC has delighted guests with signature menu items, 1.3 million drink combinations and friendly service by iconic Carhops. Since the 2009 launch of SONIC’s Limeades for Learning philanthropic campaign in partnership with DonorsChoose.org, SONIC has donated $8.5 million to public school teachers nationwide to fund essential learning materials and innovative teaching resources to inspire creativity and learning in today’s youth. To learn more about Sonic Corp. (NASDAQ/NM: SONC), please visit sonicdrivein.com and please visit or follow us on Facebook and Twitter. To learn more about SONIC’s Limeades for Learning initiative, please visit Limeadesforlearning.com.

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements reflect management’s expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those expressed in, or underlying, these forward-looking statements are detailed in the company’s annual and quarterly report filings with the Securities and Exchange Commission. The company undertakes no obligation to publicly release revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events, except as required to be reported under the rules and regulations of the Securities and Exchange Commission.

Contact:
Christi Woodworth
405-225-5600
Vice President of Public Relations

Source: Sonic Corp.

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NRF/Hackett Associates Global Port Tracker report: August is expected to be the busiest month on record for imports

WASHINGTON, 2017-Aug-10 — /EPR Retail News/ — Boosted by continuing sales growth, August is expected to be the busiest month on record for imports at the nation’s major retail container ports and 2017 is on track to set a new annual high, according to the monthly Global Port Tracker report released today (August 9, 2017) by the National Retail Federation and Hackett Associates.

“Retailers are selling more and that means they need to import more,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “With sales showing year-over-year increases almost every month for a long time now, retail supply chains are working hard to keep up. These latest numbers are a good sign of what retailers expect in terms of consumer demand over the next few months.”

Ports covered by Global Port Tracker handled 1.69 million Twenty-Foot Equivalent Units in June, the latest month for which after-the-fact numbers are available. That was down 2 percent from May but up 7.5 percent from June 2016. July was estimated at 1.72 million TEU, up 5.6 percent from the same time last year. One TEU is one 20-foot-long cargo container or its equivalent.

August is forecast at 1.75 million TEU, up 2.1 percent from last year. That would be the highest monthly volume recorded since NRF began tracking imports in 2000, topping the 1.73 million TEU seen in March 2015. The 1.7 million-plus numbers seen in May and July and now expected for August and October would represent four of the six busiest months in the report’s history.

September is forecast at 1.67 million TEU, up 4.7 percent from last year; October at 1.72 million TEU, up 3 percent; November at 1.62 million TEU, down 1.4 percent, and December at 1.59 million TEU, up 1.5 percent.

Those numbers would bring 2017 to a total of 19.7 million TEU, topping last year’s previous record of 18.8 million TEU by 4.9 percent. That compares with 2016’s 3.1 percent increase over 2015. While July numbers are not yet final, the first half of 2017 tentatively totaled 9.7 million TEU, up 7.4 percent from the same period in 2016.

The import numbers come as retail continues a long-term pattern of increased sales. Total retail sales have grown year-over-year every month since November 2009, and retail sales as calculated by NRF – excluding automobiles, gasoline stations and restaurants – have increased year-over-year in all but three months since the beginning of 2010. Retail employment, despite recent short-term fluctuations, has increased by 1.5 million jobs during the same period.

NRF has forecast that 2017 retail sales – excluding automobiles, gasoline and restaurants – will increase between 3.7 and 4.2 percent over 2016, driven by job and income growth coupled with low debt. Cargo volume does not correlate directly with sales because only the number of containers is counted, not the value of the cargo inside, but nonetheless provides a barometer of retailers’ expectations.

Hackett Associates Founder Ben Hackett noted that U.S. gross domestic product grew 2.6 percent in the second quarter of this year, more than double the 1.2 percent seen in the first quarter.

“This relatively strong growth underlies the robust level of imports we have forecast and witnessed,” Hackett said.

Global Port Tracker, which is produced for NRF by the consulting firm Hackett Associates, covers the U.S. ports of Los Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Hampton Roads, Charleston, Savannah, Port Everglades and Miami on the East Coast, and Houston on the Gulf Coast. The report is free to NRF retail members, and subscription information is available at www.nrf.com/PortTracker or by calling (202) 783-7971. Subscription information for non-members can be found at www.globalporttracker.com.

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

Hackett Associates provides expert consulting, research and advisory services to the international maritime industry, government agencies and international institutions. www.hackettassociates.com

Contact:
J. Craig Shearman
(202) 626-8134
press@nrf.com
(855) NRF-Press

Source: NRF

US Foods Q2 2017 financial results: Net sales increased 6.1% to $6.2 billion

ROSEMONT, Ill., 2017-Aug-10 — /EPR Retail News/ — US Foods Holding Corp. (NYSE: USFD), one of the largest foodservice distributors in the United States, today (August 09, 2017) announced results for the second quarter and first six months of fiscal 2017.

Second Quarter Highlights

  • Total case volume increased 3.6%; independent restaurant case volume increased 4.7%.
  • Net sales increased 6.1% to $6.2 billion.
  • Gross profit of $1.1 billion increased 1.9%.
  • Operating income of $126 million increased $28 million.
  • Net income of $65 million improved $78 million from a 2016 Net loss of $13 million.
  • Adjusted EBITDA increased 10.0% to $286 million.
  • Diluted EPS of $0.29; Adjusted Diluted EPS of $0.37.

Six Month Highlights

  • Total case volume increased 4.0%; independent restaurant case volume increased 4.3%.
  • Net sales increased 4.8% to $11.9 billion.
  • Gross profit of $2.0 billion increased 2.6%.
  • Operating income of $202 million increased $19 million.
  • Net income of $92 million exceeded prior year break-even.
  • Adjusted EBITDA increased 8.2% to $501 million.
  • Diluted EPS of $0.41; Adjusted Diluted EPS of $0.56.

CEO Perspective

“Strong Adjusted EBITDA growth of 10% and above-market independent restaurant case growth of 4.7% highlight another successful quarter for the company,” said President and CEO Pietro Satriano. “We have successfully closed five acquisitions this year as we continue to focus on accretive M&A opportunities. Continued growth with targeted customers, in combination with our portfolio of value-added services, innovative products and enhanced digital platform, position us for success in the second half of the year.”

Second Quarter Results

Total case volume increased 3.6% from prior year, of which 2.3% was organic growth, and independent restaurant case volume increased 4.7%, of which 3.7% was organic growth. The increase in total cases reflects growth with independent restaurants, healthcare and hospitality customers, and select national chain business.

Net sales of $6.2 billion represent a 6.1% increase from prior year, driven by total case volume growth, product mix changes and year-over-year inflation in grocery, produce, poultry and seafood. Sales from acquisitions completed in the last 12 months increased total Net sales by approximately 1.8%.

Gross profit of $1.1 billion increased $20 million, or 1.9% from prior year. The increase was driven by higher volume combined with margin expansion initiatives, partially offset by the year-over-year change in the Last-in, first-out (LIFO) inventory reserve. Gross profit as a percentage of Net sales was 17.1%. Adjusted Gross profit, which excludes the impact of LIFO, was $1.1 billion, a 5.6% increase from the prior year, driven by the Gross profit items discussed above. Adjusted Gross profit as a percentage of Net sales was 17.6%.

Operating expenses were $928 million, a decrease of 0.9% from prior year. Operating expenses benefitted from the non-recurrence of the prior year $31 million contract termination fee with our Sponsors, lower restructuring charges due to the completion of several initiatives in 2016, and ongoing efforts to reduce operating expenses. These decreases were partially offset by increased distribution costs related to higher volume combined with higher employee related costs. Adjusted Operating expenses for the quarter were $798 million, a 3.9% increase from prior year, primarily driven by higher volume and employee related costs.

Operating income was $126 million, a $28 million increase from prior year, driven by the Gross profit and Operating expense items discussed above.

Net income for the quarter was $65 million, up $78 million from a $13 million Net loss in the prior year. Adjusted EBITDA of $286 million increased $26 million, or 10.0% compared to prior year, driven by volume growth and the Adjusted Gross profit and Adjusted Operating expense factors discussed above. Diluted EPS was $0.29 and Adjusted Diluted EPS was $0.37.

Six Month Results

Total case volume increased 4.0% from prior year, of which 2.5% was organic growth, and independent restaurant case volume increased 4.3%, of which 3.2% was organic growth. The increase in total cases reflects growth with independent restaurants, healthcare and hospitality customers, and select national chain business.

Net sales of $11.9 billion represent a 4.8% increase from prior year, primarily driven by case volume growth and year-over-year inflation in grocery, seafood, poultry and cheese. Sales from acquisitions completed in the last 12 months increased total Net sales by approximately 1.6%.

Gross profit of $2.0 billion increased $51 million, or 2.6% from prior year. The increase was driven by higher volume combined with margin expansion initiatives, partially offset by the year-over-year change in the LIFO inventory reserve. Gross profit as a percentage of Net sales was 17.1%. Adjusted Gross profit, which excludes the impact of LIFO, was $2.1 billion, a 5.5% increase from the prior year, driven by the Gross profit items discussed above. Adjusted Gross profit as a percentage of Net sales was 17.5%.

Operating expenses were $1.8 billion, an increase of 1.8% from prior year, related to higher distribution costs from increased volume combined with higher employee related costs and insurance related charges. These increases were partially offset by the non-recurrence of the prior year $31 million contract termination fee with our Sponsors, lower restructuring charges due to the completion of several initiatives in 2016, and ongoing efforts to reduce operating expenses. Adjusted Operating expenses for the first six months were $1.6 billion, a 4.8% increase from prior year, driven by higher volume combined with higher employee related costs and insurance related charges.

Operating income was $202 million, a $19 million increase from prior year, driven by the Gross profit and Operating expense items discussed above.

Net income for the first six months was $92 million, up from break-even performance in the prior year. Adjusted EBITDA of $501 million increased $38 million, or 8.2% compared to prior year, driven by volume growth and the Adjusted Gross profit and Adjusted Operating expense factors discussed above. Diluted EPS was $0.41 and Adjusted Diluted EPS was $0.56.

Cash Flows and Capital Transactions

Net cash provided by operating activities for the first six months of fiscal 2017 was $368 million, an increase of $67 million from prior year related to our growth in net income which was driven by improved business performance and reduced interest expense. Cash capital expenditures for the first six months totaled $108 million, an increase of $41 million from prior year, due to the timing of payments made for assets acquired late in Q4 fiscal 2016 and increased capital spending, as planned.

Net Debt at the end of the quarter was $3.6 billion, a decrease of $172 million versus the same prior year period. The ratio of Net Debt to Adjusted EBITDA was 3.5x at the end of the quarter, down from 4.0x in the same prior year period.

Outlook for Fiscal 2017

The company is updating select elements of fiscal 2017 guidance. We now expect Net sales growth of 3-5%, interest expense of $175-$180 million, cash taxes of $20-$25 million and Adjusted Diluted EPS of $1.30-$1.40. All other elements of the company’s guidance provided during the Q4 fiscal 2016 earnings call on February 15, 2017, remain unchanged.

Please see the “Forward-Looking Statements” section in this release for a discussion of certain risks related to this outlook.

The company is not providing a reconciliation of our full year 2017 Adjusted EBITDA or Adjusted Diluted EPS outlook because we are not able to accurately estimate all of the adjustments on a forward-looking basis, and such items could have a significant impact on our GAAP financial results as a result of their variability.

Conference Call and Webcast Information

US Foods second quarter fiscal 2017 earnings call will be broadcast live via the Internet on August 9, 2017 at 9:00 a.m. CDT. The call can also be accessed live over the phone by dialing (855) 788-2805; the conference ID number is 35394300. The presentation slides reviewed during the webcast will be available shortly before that time. The webcast, slides, and a copy of this news release will be available in the Investor Relations section of our website for a limited period of time at www.usfoods.com/investors.

About US Foods

US Foods is one of America’s great food companies and a leading foodservice distributor, partnering with approximately 250,000 restaurants and foodservice operators to help their businesses succeed. With nearly 25,000 employees and more than 60 locations, US Foods provides its customers with a broad and innovative food offering and a comprehensive suite of e-commerce, technology and business solutions. US Foods is headquartered in Rosemont, Ill., and generates approximately $23 billion in annual revenue. Visit www.usfoods.com to learn more.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws, including those statements under “Outlook for Fiscal 2017”. Forward-looking statements include information concerning our liquidity and our possible or assumed future results of operations, including descriptions of our business strategies. These statements often include words such as “believe,” “expect,” “project,” “anticipate,” “intend,” “plan,” “estimate,” “target,” “seek,” “will,” “may,” “would,” “should,” “could,” “forecasts,” “mission,” “strive,” “more,” “goal,” or similar expressions. The statements are based on assumptions that we have made, based on our experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments, and other factors we think are appropriate. We believe these judgments are reasonable. However, you should understand that these statements are not guarantees of performance or results. Our actual results could differ materially from those expressed in the forward-looking statements. There are a number of risks, uncertainties, and other important factors, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking statements contained in this release. Such risks, uncertainties, and other important factors include, among others: our ability to remain profitable during times of cost inflation/deflation, commodity volatility, and other factors; industry competition and our ability to successfully compete; our reliance on third-party suppliers, including the impact of any interruption of supplies or increases in product costs; risks related to our indebtedness, including our substantial amount of debt, our ability to incur substantially more debt, and increases in interest rates; restrictions and limitations placed on us by agreements and instruments governing our debt; any change in our relationships with group purchasing organizations; any change in our relationships with long-term customers; our ability to increase sales to independent restaurant customers; our ability to successfully consummate and integrate acquisitions; our ability to achieve the benefits that we expect from our cost savings initiatives; shortages of fuel and increases or volatility in fuel costs; any declines in the consumption of food prepared away from home, including as a result of changes in the economy or other factors affecting consumer confidence; liability claims related to products we distribute; our ability to maintain a good reputation; costs and risks associated with labor relations and the availability of qualified labor; changes in industry pricing practices; changes in competitors’ cost structures; our ability to retain customers not obligated by long-term contracts to continue purchasing products from us; environmental, health and safety costs; costs and risks associated with government laws and regulations, including related to environmental, health, safety, food safety, transportation, labor and employment, and changes in existing laws or regulations; technology disruptions and our ability to implement new technologies; costs and risks associated with a potential cybersecurity incident; our ability to manage future expenses and liabilities associated with our retirement benefits and pension plans; disruptions to our business caused by extreme weather conditions; costs and risks associated with litigation; changes in consumer eating habits; costs and risks associated with our intellectual property protections; and risks associated with potential infringements of the intellectual property of others.

For a detailed discussion of these risks and uncertainties, see the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2016, which was filed with the Securities and Exchange Commission (“SEC”) on February 28, 2017. All forward-looking statements made in this release are qualified by these cautionary statements. The forward-looking statements contained in this release speak only as of the date of this release. We undertake no obligation, other than as may be required by law, to update or revise any forward-looking or cautionary statements to reflect changes in assumptions, the occurrence of events, unanticipated or otherwise, or changes in future operating results over time or otherwise. Comparisons of results between current and prior periods are not intended to express any future trends, or indications of future performance, unless expressed as such, and should only be viewed as historical data.

Explanation of Non-GAAP Financial Measures

We provide Adjusted Gross profit, Adjusted Operating expenses, EBITDA, Adjusted EBITDA, Net Debt, Adjusted Net income and Adjusted Diluted Earnings Per Share (EPS) as supplemental measures to GAAP measures regarding our operational performance. These non-GAAP financial measures exclude the impact of certain items and, therefore, have not been calculated in accordance with GAAP.

We use Adjusted Gross profit and Adjusted Operating expenses to focus on period-over-period changes in our business and believe this information is helpful to investors. Adjusted Gross profit is Gross profit adjusted to remove the impact of Last-in, first-out (LIFO) inventory reserve changes. Adjusted Operating expenses are Operating expenses adjusted to exclude amounts that we do not consider part of our core operating results when assessing our performance, as well other items noted in our debt agreements.

We believe EBITDA and Adjusted EBITDA provide meaningful supplemental information about our operating performance because they exclude amounts that we do not consider part of our core operating results when assessing our performance. Examples of items excluded from Adjusted EBITDA include Restructuring charges, Loss on extinguishment of debt, Sponsor fees, Share-based compensation expense, Pension settlements, the non-cash impacts of LIFO reserve adjustments, Business transformation costs (business costs associated with the redesign of systems and processes), and other items as specified in our debt agreements.

We use Net Debt to review the liquidity of our operations. Net Debt is defined as long-term debt plus the current portion of long-term debt net of restricted cash held on deposit in accordance with our credit agreements, and total Cash and cash equivalents remaining on the balance sheet as of July 1, 2017. We believe that Net Debt is a useful financial metric to assess our ability to pursue business opportunities and investments. Net Debt is not a measure of our liquidity under GAAP and should not be considered as an alternative to Cash Flows From Operating or Financing Activities.

We believe that Adjusted Net income is a useful measure of operating performance for both management and investors because it excludes items that are not reflective of our core operating performance and provides an additional view of our operating performance including depreciation, amortization, interest expense, and Income taxes on a consistent basis from period to period. Adjusted Net income is Net income (loss) excluding such items as Restructuring charges, Loss on extinguishment of debt, Sponsor fees, Share-based compensation expense, Pension settlements, the non-cash impacts of LIFO reserve adjustments, Business transformation costs (business costs associated with the redesign of systems and processes), and other items, and adjusted for the tax effect of the exclusions and discrete tax items. We believe that Adjusted Net income is used by investors, analysts, and other interested parties to facilitate period-over-period comparisons and provides additional clarity as to how factors and trends impact our operating performance.

We use Adjusted Diluted EPS, which is calculated by adjusting the most directly comparable GAAP financial measure, Diluted Earnings per Share, by excluding the same items excluded in our calculation of Adjusted EBITDA to the extent that each such item was included in the applicable GAAP financial measure. We believe the presentation of Adjusted Diluted EPS is useful to investors because the measurement excludes amounts that we do not consider part of our core operating results when assessing our performance. We also believe that the presentation of Adjusted EBITDA and Adjusted Diluted Earnings per Share is useful to investors because these metrics are frequently used by securities analysts, investors and other interested parties in their evaluation of the operating performance of companies in our industry.

Management uses these non-GAAP financial measures (a) to evaluate our historical and prospective financial performance as well as our performance relative to our competitors as they assist in highlighting trends, (b) to set internal sales targets and spending budgets, (c) to measure operational profitability and the accuracy of forecasting, (d) to assess financial discipline over operational expenditures, and (e) as an important factor in determining variable compensation for management and employees. EBITDA and Adjusted EBITDA are also used for certain covenants and restricted activities under our debt agreements. We also believe these non-GAAP financial measures are frequently used by securities analysts, investors, and other interested parties to evaluate companies in our industry.

We caution readers that amounts presented in accordance with our definitions of Adjusted Gross profit, Adjusted Operating expense, EBITDA, Adjusted EBITDA, Net Debt, Adjusted Net Income and Adjusted Diluted EPS may not be the same as similar measures used by other companies. Not all companies and analysts calculate these measures in the same manner. We compensate for these limitations by using these non-GAAP financial measures as supplements to GAAP financial measures and by presenting the reconciliations of the non-GAAP financial measures to their most comparable GAAP financial measures.

INVESTOR CONTACT:
Melissa Napier
(847) 720-2767
Melissa.Napier@usfoods.com

MEDIA CONTACT:
Debra Ceffalio
(847) 720-1652
Debra.Ceffalio@usfoods.com

Source: US Foods

Tractor Supply Company starts construction of new distribution center in Frankfort, NY

BRENTWOOD, Tenn., 2017-Aug-10 — /EPR Retail News/ — Tractor Supply Company (NASDAQ:TSCO), the largest rural lifestyle retail store chain in the United States, announced today ( Aug. 09, 2017) it has officially begun construction of a new distribution center in Frankfort, NY.

“The addition of our new distribution center in New York is important to our continued growth, as the facility will provide Tractor Supply the capacity we need to further our store expansion in the Northeast Corridor of the country,” said Greg Sandfort, Chief Executive Officer. “We are always looking for new ways to reach our customers as quickly and efficiently as possible, and this distribution center will play a critical role in our digital fulfillment strategy. We’re excited to begin the building process and look forward to a longstanding partnership with the great Frankfort community.”

Governor Andrew M. Cuomo said, “We have invested more in the Mohawk Valley in six years than the region had seen in decades and it’s paying off.  Unemployment is down, while private sector jobs are up and we’ve successfully attracted Tractor Supply Company to Herkimer County, which will soon create 350 good jobs for hard-working Upstate New Yorkers. This is a huge win for Herkimer County and the entire region, and we look forward to a long, successful partnership with the company.”

Tractor Supply executives and local government officials held a ceremonial groundbreaking event earlier today, August 9, at the site of the Frankfort distribution center located in the Frankfort 5S South Business Park. The facility is expected to begin shipping by the end of 2018 and will be approximately 930,500 square-foot in size, with the potential to create more than 350 new full-time jobs over the next six years.

“This groundbreaking is the result of several years of work and dedication by many to bring a tenant to the Frankfort 5S South Business Park,” said Chairman Bernard Peplinski, Sr., of the Herkimer County Legislature. “As the walls go up and the doors open later next year, the residents of Herkimer County and the surrounding area will benefit from the additional jobs and resulting economic growth as we work with Tractor Supply.”

Senator James L. Seward said, “Whenever I discuss economic development for the Mohawk Valley, the conversation inevitably turns to the Frankfort 5S South Business Park, also known as the Pumpkin Patch.  Tractor Supply’s arrival is great news and the project will stimulate our regional economy leading to future growth and more good paying jobs for our families.”

Assemblyman Anthony Brindisi of Utica said, “Tractor Supply Company will be an outstanding tenant and will bring job opportunities to many area residents, which will help businesses in surrounding communities as well. Through securing state funding toward the cost of a new water tower and infrastructure improvements, we were able to help make this project a reality. I want to acknowledge the Herkimer County Legislature, the Herkimer County IDA, and everyone else who partnered on this very significant investment in our community.”

Tractor Supply currently operates 1,630 stores in 49 states across the country and seven distribution centers in various locations including Casa Grande, AZ, Franklin, KY, Hagerstown, MD, Macon, GA, Pendleton, IN, Waco, TX, and Waverly, NE.  Upon completion of the Frankfort facility in late 2018, Tractor Supply will operate eight distribution centers in total.

For more information on Tractor Supply Company, or to shop their products online, please visit www.tractorsupply.com.

About Tractor Supply Company
Founded in 1938, Tractor Supply Company is the largest rural lifestyle retail store chain in the United States.  At July 1, 2017, the Company operated 1,630 Tractor Supply stores in 49 states and an e-commerce website at www.tractorsupply.com.  Tractor Supply stores are focused on supplying the lifestyle needs of recreational farmers and ranchers and others who enjoy the rural lifestyle, as well as tradesmen and small businesses.  Stores are located primarily in towns outlying major metropolitan markets and in rural communities.  The Company offers the following comprehensive selection of merchandise: (1) equine, livestock, pet and small animal products, including items necessary for their health, care, growth and containment; (2) hardware, truck, towing and tool products; (3) seasonal products, including heating, lawn and garden items, power equipment, gifts and toys; (4) work/recreational clothing and footwear; and (5) maintenance products for agricultural and rural use.

Tractor Supply Company also owns and operates Petsense, a small-box pet specialty supply retailer focused on meeting the needs of pet owners, primarily in small and mid-size communities, and offering a variety of pet products and services.  At July 1, 2017, the Company operated 160 Petsense stores in 26 states.  For more information on Petsense, visit www.petsense.com.

Media:

Alecia Pulman/Brittany Rae Fraser
ICR
(203) 682-8200

Source: Tractor Supply Company/globenewswire

GapKids launches “Forward with” campaign highlighting people who inspire kids through confidence, Focus, Creativity and kindness

NEW YORK, N.Y., 2017-Aug-10 — /EPR Retail News/ — GapKids is celebrating kids returning to the classroom with the “Forward with” campaign and short film series by highlighting the people who help shape kids’ futures. In partnership with global content leader Lionsgate (NYSE: LGF.A, LGF.B), the final short in the series, ‘Forward with Kindness,’ is inspired by the studio’s eagerly anticipated feature film Wonder, and features star Jacob Tremblay and R.J. Palacio, author of the New York Times best seller from which the motion picture was adapted.

The GapKids ‘Forward with’ campaign is a celebration of progress. It’s about extending the idea of “dressing” beyond clothing to the traits and behaviors that will lead to kids’ success. It’s about preparing kids to advance their passions by giving them the confidence, encouragement, and support they need to go forward, and it’s about calling out some amazing parents, teachers and mentors who take the time every day to dress kids with courage, kindness and possibility.

“When you think about it, kids don’t actually go back to school, they go forward in their life,” said Gap chief marketing officer Craig Brommers. “The real-life stories that we are sharing through the video series are emotional, they are optimistic, and they are what Gap is all about.”

The campaign consists of four short films, each highlighting people who are helping advance children through positive reinforcements outside the traditional educational curriculum.

  • ‘Forward with Confidence’ features third grade teacher Jasmyn Wright who believes her students can be anything that they put their minds to and uses mantras to help build their confidence and equip them with the skills to approach any challenge with a positive mindset.
  • ‘Forward with Focus’ highlights meditation mentor Andres Gonzalez who has been breathing love and self-awareness into underserved communities as co-founder of the Holistic Life Foundation, a Baltimore based nonprofit organization committed to nurturing the wellness of children through yoga, mindfulness and self-care.
  • ‘Forward with Creativity’ puts the spotlight on art instructor Sasha Sicurella who encourages self-expression through art as the founding director of the I AM: International Foundation, a nonprofit organization that works globally to provide opportunities for children to explore their identity through art and self portrait photography.
  • ‘Forward with Kindness’ stars actor Jacob Tremblay, who plays Auggie Pullman in Lionsgate’s Wonder, and New York Times bestselling author R.J. Palacio. Wonder tells the heartwarming story of Auggie Pullman, a boy born with facial differences who can’t blend in because he was born to stand out, and teaches a classroom and community to move forward with kindness. The film opens in theaters on November 17 and features Academy Award® winner Julia Roberts and Oscar® nominee Owen Wilson. The short film draws upon the themes of acceptance, empathy and kindness in the classroom from Auggie’s inspiring story.

In addition to the short film series, GapKids is taking part in Lionsgate’s #ChooseKind movement leading up to the Wonder release in November.

Lionsgate, co-producer Walden Media, Random House Children’s Books, and GapKids are bringing the #ChooseKind movement to classrooms through the “Wonder Certified Kind Classroom” initiative, an educational program that focuses on teaching acts of kindness, acceptance, and inclusion to third through sixth grade students.

Part of this initiative includes the GapKids #ChooseKind T-Shirt Design Contest, where students will be challenged to create a visualization of what kindness and inclusion mean to them as a design activity. Eight winning designs will be produced and sold in select U.S. GapKids stores and Gap.com starting on November 13, World Kindness Day. All profits will benefit myFace and Children’s Craniofacial Association, two non-profit organizations dedicated to supporting children with craniofacial differences.

Lastly, 400 participating classrooms will be eligible for GapKids-sponsored private Wonder screenings featuring a Facebook Q&A with select cast from the film.

The “Forward with” campaign and short film series will be released throughout the month of August on Gap.com, the GapKids social channels and YouTube.com/Gap. The “Wonder Certified Kind Classroom” program will run from August 2017 through April 2018, and teachers can register to participate by visiting www.wonderkindclassroom.com.

About Gap

Gap is one of the world’s most iconic apparel and accessories brands and the authority on American casual style.  Founded in San Francisco in 1969, Gap’s collections are designed to build the foundation of modern wardrobes – all things denim, classic white shirts, khakis and must-have trends.  Beginning with the first international store in London in 1987, Gap continues to connect with customers online and across the brand’s about 1,700 company-operated and franchise retail locations around the world. Gap includes Women’s and Men’s apparel and accessories, GapKids, babyGap, GapMaternity, GapBody and GapFit collections.  The brand also serves value-conscious customers with exclusively-designed collections for Gap Outlet and Gap Factory Stores.  Gap is the namesake brand for leading global specialty retailer, Gap Inc. (NYSE: GPS) which includes Gap, Banana Republic, Old Navy, Athleta, Intermix and Weddington Way. For more information, please visit www.gapinc.com.

About Lionsgate

The first major new studio in decades, Lionsgate is a global content platform whose films, television series, digital products and linear and over-the-top platforms reach next generation audiences around the world.  In addition to its filmed entertainment leadership, Lionsgate content drives a growing presence in interactive and location-based entertainment, gaming, virtual reality and other new entertainment technologies.  Lionsgate’s content initiatives are backed by a 16,000-title film and television library and delivered through a global licensing infrastructure.  The Lionsgate brand is synonymous with original, daring and ground-breaking content created with special emphasis on the evolving patterns and diverse composition of the Company’s worldwide consumer base.

Contact:
press@gap.com

Source: GAP Inc.

Gap Inc. to open its newest “digital Gap brand flagship store” on Yahoo! Taiwan

GAP CONTINUES TO PIONEER SEAMLESS OMNI-CHANNEL SHOPPING EXPERIENCES THROUGH ANYTIME, ANYWHERE ACCESSIBILITY FOR TAIWANESE SHOPPERS

Taipei, Taiwan, 2017-Aug-10 — /EPR Retail News/ — Building on its e-commerce success and responding to the growing demand of online shopping in Taiwan, today (August 8, 2017), Gap Inc. announced it will open its newest “digital Gap brand flagship store” on Yahoo! Taiwan. By offering a new online avenue, Gap is creating a true omnichannel retail experience whereby e-commerce and physical stores are all part of the shopping ecosystem for customers to experience our brand whenever, however, whatever, wherever they want.

“We are thrilled to launch this new partnership with Yahoo!, one of the largest online marketplaces in Taiwan. We believe the time is ripe for the launch of a joint digital storefront,” said May Ng, Vice President and GM, Greater China Ecommerce and Head of Hong Kong and Taiwan for Gap Inc. “As one of the first international fashion apparel brands on Yahoo!, Gap’s new digital storefront will offer the same range of range of iconic, yet modern clothing and accessories available in the brand’s physical stores. Our store on Yahoo! is an exciting addition to our presence in Taiwan and will enhance the shopping experience for our customers.”

Gap’s success lies in our culture of innovation and putting the customer at the center of everything we do. The launch of Gap Yahoo! flagship is part of our commitment to building a seamless inventory and making our products available to our customers. They can place their orders 24/7 using Gap’s Yahoo! flagship store, and have orders filled from the nearest store or fulfillment location. In line with online shopping trends in in the market, Gap also gives customers the option to pick-up orders in nearby convenience stores so they can get their products anytime they want. Since the product offerings on Yahoo are the same as stores, customers can also choose to visit a store to try-on their preferred styles and sizes before making a purchase.

“Gap Inc. is committed to creating a seamless brand experience across all channels, from store to online to mobile, that allows customers to shop for what they want, when they want, where they want, and how they want.” said May Ng. “The launch of Gap’s Yahoo! Taiwan store, is an exciting new chapter in Gap Inc.’s larger omni-channel retail strategy, designed to strengthen and integrate shopping experiences across physical stores and digital technology platforms.”

In celebration of the site launch, there will also be special events and promotions during the launch week from August 8-14. In addition to free delivery service, customers can enjoy up to 30% off new products, as well as a cash coupon of NTD100 for a purchase over NTD2000. Gap will also be offering door busters and exclusive styles in its newly opened Yahoo! flagship store.

Since entering Taiwan in 2014, Gap has enjoyed widespread popularity among customers, as seen in its steady business growth in the market. With the addition of Yahoo! Taiwan along with our directly operated site, the brand will have 11 physical stores in Taiwan and two e-commerce options, allowing customers in every city access to Gap’s optimistic, modern American style and great customer experience.

About Gap Inc.

Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Athleta, Intermix and Weddington Way brands. Fiscal year 2016 net sales were $15.5 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,200 company-operated stores, about 450 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.

Gap flagship store on Yahoo Supermall: tw.mall.yahoo.com/store/Gap

About Oath

Oath, a subsidiary of Verizon, is a values-led company committed to building brands people love. We reach over one billion people around the world with a dynamic house of 50+ media and technology brands including Yahoo. As a global leader in digital and mobile, Oath is shaping the future of media.

In Taiwan, we keep offering services under the name Yahoo and today own a number of properties including Yahoo TV, News, Mail, Search, Auction, Store, Shopping, Finance, Movies, Sports and Entertainment. Yahoo also provides a comprehensive suite of e-commerce services. For more information, visit the company’s corporate blog (http://ycorpblog.Tumblr.com/).

Contact:
press@gap.com

Source: GAP Inc.

Krispy Kreme’s Original Glazed® Doughnuts will be eclipsed by chocolate glaze to coincide with the solar eclipse, Monday, Aug. 21

WINSTON-SALEM, N.C., 2017-Aug-10 — /EPR Retail News/ — For the first time, Krispy Kreme’s Original Glazed® Doughnuts will be eclipsed by a mouth-watering chocolate glaze to coincide with the solar eclipse Monday, Aug. 21 at participating U.S. shops. Guests also can get an early taste of this limited-time doughnut during evening Hot Light™ hours Saturday and Sunday, Aug. 19-20.

“The solar eclipse is a rare occasion providing a total sensory experience for viewers across the continental U.S. Chocolate will have the same effect as we introduce a first-time chocolate glazing of our iconic Original Glazed Doughnut,” said Jackie Woodward, Chief Marketing Officer of Krispy Kreme Doughnuts. “The Chocolate Glazed Doughnut is a delicious way to experience the solar eclipse – no matter where you are – and we can’t wait for fans to try it.”

The Krispy Kreme Chocolate Glazed Doughnut features the classic Original Glazed Doughnut, smothered in a rich chocolate glaze. Guests who visit participating Krispy Kreme shops can see the chocolate glaze waterfall as the doughnuts are prepared, smell the aroma of chocolate wafting through the shop and taste the familiar Original Glazed Doughnut smothered in a new delicious chocolate.

Be one of the first to try the tastiest eclipse in history. Find a Krispy Kreme shop near you and find out when the Hot Light™ is on by going to www.krispykreme.com/Eclipse.

About Krispy Kreme Doughnut Corporation

Krispy Kreme Doughnut Corporation is a global retailer of premium-quality sweet treats, including its signature Original Glazed doughnut. Headquartered in Winston-Salem, N.C., the Company has offered the highest-quality doughnuts and great-tasting coffee since it was founded in 1937. Krispy Kreme Doughnuts is proud of its Fundraising program, which for decades has helped non-profit organizations raise millions of dollars in needed funds. Krispy Kreme doughnuts can be found in approximately 12,000 grocery, convenience and mass merchant stores in the U.S. The Company has more than 1,300 retail shops in 31 countries. Connect with Krispy Kreme Doughnuts at www.KrispyKreme.com, or on one of its many social media channels, including www.Facebook.com/KrispyKreme, and www.Twitter.com/KrispyKreme.

Contact:

Sarah Roof
336-726-8878
Manager of Corporate Communication
sroof@krispykreme.com

Source: Krispy Kreme Doughnut Corporation

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Toys“R”Us announces the appointment of Mark Johnson as EVP, U.S. Marketplace Operations

WAYNE, NJ, 2017-Aug-10 — /EPR Retail News/ — Toys“R”Us, Inc., the world’s leading dedicated toy and baby products retailer, today (August 7, 2017) announced Mark Johnson was named Executive Vice President, U.S. Marketplace Operations, effective immediately. He will report directly to Chairman and CEO Dave Brandon.

Mr. Johnson had been serving as interim EVP, Store Operations since May. Johnson joined the company in October 2014 as Regional Director for stores before being promoted to Vice President of Operations, Strategy and Execution in 2015, where he provided leadership across multiple store teams with a focus on driving sales and consistent operational execution in the marketplace.

In his new role, Mark Johnson will be responsible for delivering an exceptional shopping experience for customers across the company’s Toys“R”Us® and Babies“R”Us® brick and mortar locations in the U.S. This includes virtually every aspect of the company’s retail operation, from people, process and planning to ensuring flawless execution for customers. Mr. Johnson will also serve as a member of the company’s Global Leadership Team, providing strategic direction and support for Store Operations.

“As we work to grow and build our brands across the globe, the customer experience is at the core of everything we do,” said Mr. Brandon. “Over the last several years, Mark has been a key player in the evolution of our brick and mortar store operations and in this important leadership position, he will have even greater opportunity to help our store teams become trusted friends and advocates for kids and their families.”

Prior to joining the company, Mr. Johnson served as Regional Manager for Walmart Stores, U.S., where he led process and customer service excellence. He was a Partner at McKinney Rogers Global Business Execution Consultancy, where he provided counsel to senior leaders at Walmart and other businesses undergoing transformation. Earlier in his career, Mr. Johnson served in the United States Marine Corps before retiring in 2007.

Mr. Johnson received his bachelor’s degree in economics from the University of Texas at Austin and a Master of Military Science from the Marine Corps University in Quantico, VA. In addition to his full-time role, Mr. Johnson is an Athlete Ambassador for the National Down Syndrome Society. He lives in New Jersey with his wife Karen Lynn Johnson, and is the proud father of four children and three grandchildren.

About Toys“R”Us, Inc.

Toys“R”Us, Inc. is the world’s leading dedicated toy and baby products retailer, offering a differentiated shopping experience through its family of brands. Merchandise is sold in 879 Toys“R”Us and Babies“R”Us stores in the United States, Puerto Rico and Guam, and in 815 international stores and over 255 licensed stores in 37 countries and jurisdictions. With its strong portfolio of e-commerce sites including Toysrus.com and Babiesrus.com, the company provides shoppers with a broad online selection of distinctive toy and baby products. Toys“R”Us, Inc. is headquartered in Wayne, NJ, and has nearly 65,000 employees worldwide. The company is committed to serving its communities as a caring and reputable neighbor through programs dedicated to keeping kids safe and helping them in times of need. Over the past three decades, the Company has given more than $100 million in product donations to children’s charities. Since 1992, the Toys“R”Us Children’s Fund, a public charity affiliated with Toys“R”Us, Inc., has also donated more than $130 million in grants. For more information, visit Toysrusinc.com or follow @ToysRUsNews on Twitter.

For more information please contact:

Media:
Amy von Walter
Executive Vice President, Communications and Customer Care, Toys“R”Us, Inc.
Amy.vonWalter@toysrus.com
(201) 815-9512

Source: Toys“R”Us, Inc.

Xcel Brands Q2 2017 financial results: Net Revenues of $8.4 Million

  • Company Expanding its Presence in Dillard’s
  • Second Quarter Net Revenues of $8.4 Million
  • Second Quarter GAAP Net Income of $0.2 Million
  • Second Quarter Non-GAAP Net Income of $1.5 Million; Adjusted EBITDA of $2.3 Million

NEW YORK, 2017-Aug-10 — /EPR Retail News/ — Xcel Brands, Inc. (NASDAQ:XELB) (“Xcel” or the “Company”), a media and brand management company, today (Aug. 09, 2017) announced its financial results for the second quarter and six months ended June 30, 2017.

Robert W. D’Loren, Chairman and Chief Executive Officer of Xcel commented, “We are focused on providing solutions to help retailers navigate the complex transformation underway within our industry.  I am pleased by the continued growth in our department store business as our retail partners work with us to implement these solutions.  After the successful launch of our H Halston brand at Dillard’s this March, I am excited that we will be expanding our relationship with Dillard’s by launching our IMNYC Isaac Mizrahi brand this September.”

Mr. D’Loren continued, “The performance of our interactive television business remains strong.  The trends within our interactive business are improving with increased productivity per minute, and higher show achievement rates in our apparel businesses.  Xcel is well positioned to capitalize on the ongoing transformation that is impacting many of our markets as a result of the unique platform we have created and I am encouraged by the direction we are headed.”

Second Quarter 2017 Financial Results
Total net revenues for the second quarter of 2017 were $8.4 million, down approximately 8% from $9.1 million in the prior year quarter. This was primarily attributable to lower revenue associated with the C Wonder brand which is transitioning away from QVC and from the exiting of the LCNY license agreement in July 2016, both previously reported.  These were partially offset by higher revenues from our wholesale and department store businesses as we increase the number of stores our brands are sold in and expand our short-lead production platform in our department store business into more product categories.

GAAP net income was $0.2 million for the quarter ended June 30, 2017, or $0.01 per share, compared with a net loss of approximately ($0.1) million, or ($0.00) per share on a diluted basis, in the prior year quarter. After adjusting for certain cash and non-cash items, non-GAAP net income for the quarter ended June 30, 2017 was $1.5 million, or $0.08 per diluted share, compared with $1.9 million, or $0.10 per diluted share in the prior year quarter.

Adjusted EBITDA for the quarter ended June 30, 2017 decreased approximately $0.4 million to $2.3 million, compared with $2.7 million for the same quarter in the prior year.

The Company achieved significant growth in Non-GAAP net income and Adjusted EBITDA for the past two consecutive quarters, as the Company’s strategy of focusing on its own brands and the growth of the short lead production platform continues to improve results.

First Six Months of Fiscal 2017 Financial Results

Total net revenues for the six months ended June 30, 2017 were $16.8 million, down approximately 4% from $17.5 million in the same period in 2016. The decrease was attributable primarily to lower revenues associated with the management and design of the LCNY brand, partially offset by the previously mentioned higher revenues from our wholesale and department store businesses.

GAAP net loss was approximately ($0.2) million for the six months ended June 30, 2017, or ($0.01) per share, compared with net loss of ($0.1) million, or ($0.01) per share on a diluted basis, for the six months ended June 30, 2016. After adjusting for certain cash and non-cash items, non-GAAP net income for the six months ended June 30, 2017 was $2.7 million, or $0.14 per diluted share, compared with $3.1 million, or $0.16 per diluted share, for the same period in the prior year.

Adjusted EBITDA for the six months ended June 30, 2017 decreased approximately $0.5 million to $4.2 million, compared with $4.7 million for the same period in the prior year.

See reconciliation tables below for non-GAAP metrics. These non-GAAP metrics may be inconsistent with similar measures presented by other companies and should only be used in conjunction with our results reported according to U.S. generally accepted accounting principles (“GAAP”). Any financial measure other than those prepared in accordance with GAAP should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.

The Company’s balance sheet at June 30, 2017 remained strong, with stockholders’ equity of $107.0 million, cash and cash equivalents of $7.6 million, and working capital of approximately $10.8 million.  During the current six months, the Company reduced its senior term debt by $5.3 million to $20 million, with a remaining $0.5 million principal payment due over the balance of 2017.

Conference Call and Webcast

The Company will host a conference call with members of the executive management team to discuss these results with additional comments and details at 5:00 p.m. Eastern Time on Wednesday, August 9, 2017. A webcast of the conference call will be available live on the Investor Relations section of Xcel’s website at www.xcelbrands.com. Interested parties unable to access the conference call via the webcast may dial 888-857-6931. A replay of the conference call will be available on the Company website for 30 days following the event and can be accessed at 844-512-2921 using replay pin number 8379955.

About Xcel Brands
Xcel Brands, Inc. (NASDAQ:XELB) is a media and brand management company engaged in the design, production, licensing, marketing, and direct-to-consumer sales of branded apparel, footwear, accessories, jewelry, home goods, and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Xcel was founded by Robert W. D’Loren in 2011 with a vision to reimagine shopping, entertainment, and social as one. Xcel owns and manages the Isaac Mizrahi, Judith Ripka, H Halston, C. Wonder, and Highline Collective brands, pioneering a ubiquitous sales strategy which includes the promotion and sale of products under its brands through interactive television, internet, brick and mortar retail, and e-commerce channels. Headquartered in New York City, Xcel Brands is led by an executive team with significant production, merchandising, design, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. With a team of over 100 professionals focused on design, production, and digital marketing, Xcel maintains control of product quality and promotion across all of its product categories and distribution channels. Xcel differentiates by design.  www.xcelbrands.com

Forward Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release, including statements regarding future events, our future financial performance, business strategy and plans and objectives of management for future operations, are forward-looking statements. We have attempted to identify forward-looking statements by terminology including “anticipates,” “believes,” “can,” “continue,” “ongoing,” “could,” “estimates,” “expects,” “intends,” “may,” “appears,” “suggests,” “future,” “likely,” “goal,” “plans,” “potential,” “projects,” “predicts,” “seeks,” “should,” “would,” “guidance,” “confident” or “will” or the negative of these terms or other comparable terminology. These forward-looking statements include, but are not limited to, statements regarding our anticipated revenue, expenses, profitability, strategic plans and capital needs. These statements are based on information available to us on the date hereof and our current expectations, estimates and projections and are not guarantees of future performance. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors, including, without limitation, the risks discussed in the “Risk Factors” section and elsewhere in the Company’s Annual Report on form 10-K for the year ended December 31, 2016 and its other filings with the SEC, which may cause our or our industry’s actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time and it is not possible for us to predict all risk factors, nor can we address the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause our actual results to differ materially from those contained in any forward-looking statements. You should not place undue reliance on any forward-looking statements. Except as expressly required by the federal securities laws, we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason.

Non-GAAP net income and non-GAAP diluted EPS are non-GAAP unaudited terms. We define non-GAAP net income as net income, exclusive of stock-based compensation, non-cash interest expense from discounted debt related to acquired assets, gain on the reduction of contingent obligations, loss on extinguishment of debt, non-recurring facility exit charges, certain discrete tax items related to vesting or exercise of stock-based awards, and net income or loss from discontinued operations. Non-GAAP net income and non-GAAP diluted EPS measures do not include the tax effect of the aforementioned adjusting items, due to the nature of these items and the Company’s tax strategy.

Adjusted EBITDA is a non-GAAP unaudited measure, which we define as net income before stock-based compensation, interest and other financing costs, loss on extinguishment of debt, gain on the reduction of contingent obligations, income taxes, other state and local franchise taxes, depreciation and amortization, non-recurring facility exit charges, and net income or loss from discontinued operations.

Management uses non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA as measures of operating performance to assist in comparing performance from period to period on a consistent basis and to identify business trends relating to our results of operations. Management believes non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA are also useful because they provide supplemental information to assist investors in evaluating our financial results. Non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA should not be considered in isolation or as alternatives to net income, earnings per share, or any other measure of financial performance calculated and presented in accordance with GAAP. Given that non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA are financial measures not deemed to be in accordance with GAAP and are susceptible to varying calculations, our non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA may not be comparable to similarly titled measures of other companies, including companies in our industry, because other companies may calculate non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA in a different manner than we calculate these measures. In evaluating non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA, you should be aware that in the future we may or may not incur expenses similar to some of the adjustments in this document. Our presentation of non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA does not imply that our future results will be unaffected by these expenses or any unusual or non-recurring items. When evaluating our performance, you should consider non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA alongside other financial performance measures, including our net income and other GAAP results, and not rely on any single financial measure.

For further information please contact:
Andrew Berger
SM Berger & Company, Inc.
216-464-6400
andrew@smberger.com

Source: Xcel Brands, Inc.

CBRE: “urban-suburban” submarkets are well positioned to capture strong demand from office users

Los Angeles, 2017-Aug-10 — /EPR Retail News/ — Suburban office markets that provide an urban-like live-work-play environment are well positioned to capture strong demand from office users, according to a new report from CBRE.

Among the most common attributes of so-called “urban-suburban” submarkets are the presence of abundant retail, office and housing options, as well as employment opportunities, based on a survey of CBRE Research professionals in the 25 largest suburban markets.

Established urban-suburban submarkets have the added advantage of amenities like entertainment and recreational offerings, restaurants and grocery stores and public transportation access. Established submarkets include the New Jersey Waterfront, Santa Monica and Palo Alto.

Emerging submarkets, such as the Los Angeles submarket Glendale or the Central Perimeter in Atlanta, are more likely to be in transition, with development, construction or renovation – including ongoing or planned public transit projects – shaping dynamics. Notably, emerging submarkets are more likely than established submarkets to have mixed-use projects in the works. Mixed-use projects often serve as a catalyst for additional development in a particular area, spurring interest in the surrounding neighborhood. Emerging submarkets are also more likely to utilize government incentives, zoning changes or other public commitments to assist development than established submarkets.

“Steep rental rates and an increasingly limited supply of quality office space, especially in large blocks, in downtown submarkets will continue to lead more tenants to look for space in suburban markets,” said Scott Marshall, executive managing director, Advisory & Transaction Services|Investor Leasing, CBRE. “Moreover, as more millennials age and begin families, many will eventually move to the suburbs. Office locations that can provide the urban characteristics this pool of workers has grown accustomed to will be in the highest demand.”

The vacancy rate for emerging urban-suburban submarkets was 15.3 percent as of Q1 2017, compared with 13.8 percent for the established urban-suburban submarkets. Similarly, rents in emerging urban-suburban submarkets have yet to surpass the overall suburban average ($27.79 per sq. ft.) but were essentially equal at $27.46 per sq. ft. and significantly below rents in established urban-suburban submarkets ($31.90).

The amount of new office construction underway in urban-suburban submarkets is slightly elevated relative to their share of inventory. Emerging submarkets account for 22 percent of total square footage under construction in the top 25 suburban markets (compared to their 20 percent share of total inventory) and established submarkets account for 30 percent (compared to 26 percent of total inventory). Yet in certain metros, these shares are much higher, with urban-suburban submarkets accounting for 100 percent of the suburban office space under construction in Sacramento, Minneapolis/St. Paul, Kansas City and Austin.

“Established urban-suburban submarkets offer investors and occupiers a relatively low-risk alternative to downtown office space, as fundamentals in these submarkets already outperform the suburbs overall and in many metros, rival the CBD,” said Andrea Cross, Americas head of office research, CBRE. “Alternatively, emerging urban-suburban markets offer those with longer-term strategies an opportunity to secure space in up-and-coming areas while there are still options to choose from and purchase prices and rents are more affordable.”

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

ARA: NSW Boxing Day trade legislation is great news for retailers

Melbourne, Australia, 2017-Aug-10 — /EPR Retail News/ — The Australian Retailers Association (ARA) applauds the NSW Government in moving to legislate Boxing Day trade across all parts of NSW after it was welcomed by retailers, employees and consumers during a two-year trial.

An independent review with comprehensive feedback from business owners, employees and shoppers has revealed this legislation will level the playing field for retailers who were previously prohibited from taking part in the Boxing Day sales simply because of their location.

ARA Executive Director Russell Zimmerman said this announcement is great news for NSW retailers as Boxing Day is one of the busiest trading days of the year.

“Consumers want to shop on Boxing Day, and retailers want to trade, it’s as simple as that,” Mr Zimmerman said.

“Giving NSW retailers an opportunity to trade on this public holiday not only gives retailers a chance to increase their sales it allows physical stores to compete with online and interstate retailers.”

As the retail sector is the largest private industry employer, the ARA believes this decision is also great news for NSW retail staff.

“Allowing Boxing Day trade in all areas of NSW gives retailers the opportunity to roster volunteer staff on one of the biggest trading days of the year,” Mr Zimmerman said.

“Public holiday rates are a great way for employees to earn money and increasing trading hours for NSW retailers significantly reduces underemployment.”

This legislation aligns with the ARA’s submission to the NSW Government which supports deregulated trading hours on Boxing Day and will be introduced in the coming months.

The ARA will work with retailers and their employees to ensure they are fully aware of their rights ahead of Boxing Day this year.

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is the retail industry’s peak representative body representing Australia’s $310 billion sector, which employs more than 1.2 million people. The ARA works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,000 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.

For interview opportunities with ARA Executive Director, Russell Zimmerman, call the ARA Media team on 0439 612 556 or email media@retail.org.au.

Source: ARA

Del Taco Restaurants appoints M. Barry Westrum as Chief Marketing Officer

Lake Forest, CA, 2017-Aug-10 — /EPR Retail News/ — Del Taco Restaurants, Inc. (“Del Taco” or the “Company”), (NASDAQ: TACO), the second largest Mexican-American QSR chain by units in the United States, operating restaurants under the name Del Taco, today (August 9, 2017) announced M. Barry Westrum will join the Company as Chief Marketing Officer. Westrum brings more than 25 years of marketing experience with nationally-recognized brands, including Taco Bell, KFC USA, Long John Silver’s, A&W Restaurants and Dairy Queen. He will be responsible for leading Del Taco’s global marketing strategy, reporting to President and Chief Executive Officer of Del Taco, John D. Cappasola, Jr.

“We are thrilled to welcome Barry to the Del Taco family,” John D. Cappasola, Jr., President and Chief Executive Officer of Del Taco, commented. “Barry is an established brand leader who has deep experience in strengthening brands, enhancing marketing and innovation, and creating strong partnerships with operators and franchisees to build sales and profits. As we look to further embed our QSR+ positioning to continue to drive brand momentum, Barry’s strong track record in our category will be an asset to our leadership team.”“I am excited to join this iconic brand and work with John and this talented management team as they approach their next phase of growth,” said M. Barry Westrum. “Del Taco has had great marketing success to date, which has led to some of the best results in the restaurant category, and I look forward to working with the team to grow the Del Taco brand.”

Prior to joining Del Taco, Westrum held the position of Executive Vice President of Marketing for International Dairy Queen, Inc. (IDQ), a Berkshire Hathaway-owned company. Westrum joined IDQ to lead rapid revenue and profit growth for the 75 year-old brand. Before IDQ, he spent 17 years with Yum! Brands, working his way up from Associate Manager of Field Marketing at Taco Bell Corp. in 1998 to Senior Director of Brand Marketing in 2007. Westrum also held positions as Chief Marketing Officer at KFC USA, Chief Marketing Officer of A&W and Long John Silver’s Restaurants, and Dean of the Yum “Know How and Innovation Center.” He began his career at Tracy-Locke Advertising where he oversaw the Pepsi-Cola account, before joining Frankel & Company where he oversaw Chevron, Vans, Inc. and Nestle Food Company Brands. Westrum holds a Bachelor of Arts degree in Communications and Advertising from California State University, Fullerton.

About Del Taco Restaurants, Inc.
Del Taco (NASDAQ: TACO) offers a unique variety of both Mexican and American favorites such as burritos and fries, prepared fresh in every restaurant’s working kitchen with the value and convenience of a drive thru. Del Taco’s menu items taste better because they are made with quality ingredients like freshly grated cheddar, hand-chopped pico de gallo, sliced avocado, slow-cooked beans made from scratch, and fresh-grilled marinated chicken and carne asada. The brand’s UnFreshing Believable® campaign further communicates Del Taco’s commitment to provide guests with the best quality and value for their money. Founded in 1964, today Del Taco serves more than three million guests each week at its more than 550 restaurants across 15 states. For more information, visit www.deltaco.com.

Media Contact:
Julia Young
(646) 277-1280
julia.young@icrinc.com
publicrelations@deltaco.com

Source: Del Taco Restaurants, Inc.

IGA to raise funds and awareness to help parents and families end the nation’s opioid epidemic

CHICAGO, 2017-Aug-10 — /EPR Retail News/ — IGA USA today (August 8, 2017) announced that it is collaborating with Partnership for Drug-Free Kids to launch the first-ever IGA Cares initiative. Through in-store fundraising activities and the sales of specially marked IGA Exclusive Brand products, the IGA Cares initiative will support the mission of the Partnership, a national nonprofit dedicated to supporting families struggling with their son or daughter’s substance use. During this national campaign – which began running in participating IGA stores on August 1st – IGA will raise both critical funds and awareness to help parents and families and help end the nation’s opioid epidemic.

A number of in-store fundraising activites are available from August to December through the sale of specially marked IGA Exclusive Brand products available for purchase in participating IGA stores, and an instore pin-up promotion that will run in stores from mid-August through October. In addition to fundraising, IGA will help to raise awareness of the nation’s opioid epidemic and spread the word about how families can get help through the Partnership’s resources with an informational web page on www.igabetterchoices.com.

“For more than 90 years now, IGA retailers have been building the brand’s reputation by doing their part to give back and support worthy causes in the communities they serve,” Dave Bennett, IGA senior vice president of Procurement & Private Brands, said. “It is only natural that we would use the power of our IGA Exclusive Brand line to align IGA and its retailers with the causes that matter to today’s consumer on a national level, as well. Working with Partnership for Drug-Free Kids to raise awareness and funds during our first-ever IGA Cares initiative, we can do our part to make sure families in IGA communities across the country who are impacted by their son or daughter’s substance use don’t have to suffer alone.”

“With the launch of this inaugural IGA Cares initiative, IGA is demonstrating the true spirit of corporate social responsibility and solidifying their commitment to making a difference in the lives of so many families,” said Marcia Lee Taylor, Chief Policy Advisor for the Partnership for Drug-Free Kids. “We are honored that IGA has chosen to partner with us, especially at this critical time when the country is facing an urgent opioid epidemic. Through this effort, IGA will help us support parents and families who are dealing with a child’s substance use or addiction, and in doing so, they will undoubtedly help local IGA communities nationwide.”

Learn more about the Partnership’s extensive resources for families at drugfree.org. Learn more about IGA at www.iga.com.

About IGA
IGA is the world’s largest voluntary supermarket network with aggregate worldwide retail sales of more than $36 billion per year. The Alliance includes nearly 5,000 Hometown Proud Supermarkets worldwide, supported by 29 distribution centers and more than 30 major manufacturers, vendors and suppliers encompassing everything from grocery to equipment items and retail services. IGA has operations in 46 of the United States and more than 32 countries, commonwealths and territories.

About the Partnership for Drug-Free Kids
Partnership for Drug-Free Kids is committed to helping families struggling with their son or daughter’s substance use. We empower families with information, support and guidance to get the help their loved one needs and deserves. On our website, drugfree.org, and through our toll-free helpline (1-855-DRUGFREE), we provide families with direct support and guidance to help them address teen substance use. Finally, we build healthy communities, advocating for greater understanding and more effective programs to treat the disease of addiction. As a national nonprofit, we depend on donations from individuals, corporations, foundations and the public sector and are thankful to SAG-AFTRA and the advertising and media industries for their ongoing generosity. We are proud to receive a Four-Star rating from Charity Navigator, America’s largest and most-utilized independent evaluator of charities, as well as a National Accredited Charity Seal from the Better Business Bureau’s Wise Giving Alliance.

Contact:

Phone: (773) 693-4520
Fax: (773) 693-4533

Source: IGA

Express, Inc. to host Q2 2017 results conference call on Wednesday, August 23, 2017

COLUMBUS, Ohio, 2017-Aug-10 — /EPR Retail News/ — Express, Inc. (NYSE: EXPR), a specialty retail apparel company, today (Aug. 9, 2017) announced that it will conduct a conference call to discuss second quarter 2017 results on Wednesday, August 23, 2017, at 9:00 a.m. ET. Earlier that morning, the Company will issue a press release detailing those results. The conference call will be hosted by David Kornberg, president and chief executive officer, Matthew Moellering, executive vice president and chief operating officer, and Perry Pericleous, senior vice president and chief financial officer.

Investors and analysts interested in participating in the call are invited to dial (877) 705-6003 approximately ten minutes prior to the start of the call. The conference call will also be webcast live at: http://www.express.com/investor and remain available for 90 days. A telephone replay of this call will be available at 12:00 p.m. ET on August 23, 2017, until 11:59 p.m. ET on August 30, 2017, and can be accessed by dialing (844) 512-2921 and entering the replay pin number 13668336.

In addition, an investor presentation of second quarter 2017 results will be available at: http://www.express.com/investor at approximately 7:00 a.m. ET on Wednesday, August 23, 2017.

About Express, Inc.:

Express is a specialty apparel and accessories retailer of women’s and men’s merchandise, targeting the 20 to 30-year-old customer. Express has more than 35 years of experience offering a distinct combination of fashion and quality for multiple lifestyle occasions at an attractive value addressing fashion needs across work, casual, jeanswear, and going-out occasions. The Company currently operates more than 600 retail and factory outlet stores, located primarily in high-traffic shopping malls, lifestyle centers, and street locations across the United States and Puerto Rico. Express merchandise is also available at franchise locations and online in Latin America. Express also markets and sells its products through its e-commerce website, www.express.com, as well as on its mobile app.

Investor:
Mark Rupe
614-474-4465
VP Investor Relations

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

Source: Express, Inc.

Baskin-Robbins celebrates first year anniversary of its App

Baskin-Robbins celebrates first year anniversary of its App

 

CANTON, MA, 2017-Aug-10 — /EPR Retail News/ — This month, Baskin-Robbins is celebrating its one year App Anniversary! Just one year ago, we launched the Baskin-Robbins Mobile App for iOS and Android. To celebrate, we wanted to give Baskin-Robbins guests the inside scoop on our mobile app.

Upon downloading and registering for the free app on any iOS or Android device, guests will receive a mobile coupon for a free, regular-sized scoop of Baskin-Robbins ice cream 24 hours later. It is not too late to enjoy this free treat this summer!

This app not only provides a free scoop for new users. In an effort to find new innovative ways to enhance our guest experience, the Baskin-Robbins Mobile App provides guests with a variety of helpful features, including:

  • Access deals and coupons: App users will receive various mobile coupons and deals; including deals that are only available through the Baskin-Robbins Mobile App.
  • Purchase and reload Baskin-Robbins gift cards: Guests can add existing Baskin-Robbins gift cards, purchase new virtual Baskin-Robbins cards directly from the app and add money to an existing card.
  • Purchase and send Baskin-Robbins Gift Cards to friends and family: The Baskin-Robbins Mobile App allows guests to gift the joy of ice cream by purchasing virtual Baskin-Robbins cards and sharing them with friends and family to make someone’s day a bit sweeter. Baskin-Robbins cards can be sent in denominations between $2 and $100.
  • Current and upcoming promotions and events: App users can stay informed on various Baskin-Robbins promotions and events throughout the year, including the current Flavor of the Month.
  • Locate the nearest Baskin-Robbins shop: A detailed store locator makes it easy to find directions and information about local Baskin-Robbins locations, including shop hours, online cake ordering availability, product offerings and more.
  • Browse the menu and sort frozen treats by nutritional preferences: The Baskin-Robbins Mobile App allows guests to easily browse the menu, including the brand’s classic and new ice cream flavors and frozen treats and sort by nutritional preferences. Guests can also view nutrition facts for some of their favorite Baskin-Robbins ice cream flavors, sundaes, frozen beverages and desserts.

What is your favorite part of the Baskin-Robbins App? Let us know on FacebookTwitter, and Instagram.

To stay up to date on all things Baskin-Robbins, sign up for our email news alerts at news.baskinrobbins.com/alerts.

MEDIA CONTACT:

Dunkin’ Brands Media Relations
Email: press@dunkinbrands.com

Source: Baskin-Robbins

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PVH Corp. recognized for its leadership and commitment to sustainability

PVH Corp. recognized for its leadership and commitment to sustainability

 

NEW YORK, 2017-Aug-10 — /EPR Retail News/ — PVH Corp. (NYSE:PVH) announced that the Company was honored with the Sustainability Award at the Accessories Council 21st Annual ACE Awards.

The Award is a testament to the Company’s sustainability accomplishments and ongoing commitment to making positive impacts for people, the environment and communities. The award was presented to PVH Corp. Chairman & CEO, Emanuel Chirico, by actress and fashion icon, Brooke Shields.

Shields wryly asked and answered, “Do you know what comes between PVH and sustainability? Nothing.” She added more seriously, “When a powerful company makes sustainability a priority, the positive influence of their leadership can be felt across the globe.”

“Receiving the Sustainability Award from the Accessories Council is an incredible honor,” said Emanuel Chirico, Chairman and CEO, PVH Corp.“At PVH, we recognize our responsibility to address the social and environmental impacts of our industry and contribute toward a fair, healthy future for all.”

The ACE Awards were created in 1997 to honor individuals and companies who have furthered the awareness and use of accessories. The 2017 ACE Award winners were honored at Cipriani 42nd Street in New York City.

Visit www.pvh.com/cr for more information on PVH’s Corporate Responsibility initiatives as well as the recently launched 2016 CR Report.

About PVH Corp.

With a history going back over 135 years, PVH has excelled at growing brands and businesses with rich American heritages, becoming one of the largest apparel companies in the world. We have over 35,000 associates operating in over 40 countries and over $8 billion in annual revenues. We own the iconic CALVIN KLEIN, TOMMY HILFIGER, Van Heusen, IZOD, ARROW, Speedo*, Warner’s, Olga and True&Co. brands, and market a variety of goods under these and other nationally and internationally known owned and licensed brands.

*The Speedo brand is licensed for North America and the Caribbean in perpetuity from Speedo International, Limited.

Contact:
Dana Perlman
212-381-3502
Treasurer, Senior Vice President
Business Development and Investor Relations

Source: PVH Corp.

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The Children’s Place Q2 2017 Results: Comparable Retail Sales Increase of 3.1%

  • Delivers Q2 Comparable Retail Sales Increase of 3.1%
  • Reports Q2 GAAP Earnings per Diluted Share of $0.79 vs ($0.11) in Q2 2016 and Q2 Adjusted Earnings per Diluted Share of $0.86 vs ($0.01) in Q2 2016
  • Repurchases $25 Million in Stock and Pays $7 Million in Dividends in Q2
  • Increases Adjusted EPS Guidance to a Range of $7.23 to $7.33 for FY 2017 Compared to Previous Guidance of $7.10 to $7.20

SECAUCUS, N.J., 2017-Aug-10 — /EPR Retail News/ — The Children’s Place, Inc.(Nasdaq:PLCE), the largest pure-play children’s specialty apparel retailer in North America, today (Aug. 09, 2017) announced financial results for the thirteen weeks ended July 29, 2017.

Jane Elfers, President and Chief Executive Officer, said, “We continued to deliver outstanding operating results in the second quarter. Comparable retail sales, gross margin, operating margin and earnings per diluted share were above last year and exceeded the high end of our guidance range. Our second quarter comparable retail sales increased 3.1%, on top of a positive 2.4% comp in the second quarter of 2016 and store traffic showed sequential improvement compared to the first quarter. We saw increases in ADS driven by higher AUR and UPT, as well as merchandise margin expansion in the quarter. And, we repurchased $25 million in stock and paid $7 million in dividends in the quarter.”

Ms. Elfers said, “Our results are indicative of the significant progress we have made against each of our strategic growth initiatives – superior product, business transformation through technology, global growth through alternate channels of distribution and fleet optimization – all of which are supported by a best-in-class management team. Within our digital transformation initiative, we are intensely focused on developing and implementing a robust Personalized Customer Contact Strategy.”

Elfers continued, “Gymboree’s recent bankruptcy, and the liquidation of 330 of their stores, presents a market share opportunity for The Children’s Place.  We are directly co-located in 216 of those locations and we have experienced sales and traffic lifts in those stores since the Gymboree liquidation began on July 18th.”

Ms. Elfers concluded, “Although we are only a couple weeks into the key Back-to-School selling season, we are encouraged by our early results. Our product clearly continues to resonate with our customer.”

Financial Results
The Company’s results are reported in this press release on a GAAP and as adjusted, non-GAAP basis. A reconciliation of non-GAAP to GAAP financial information is provided at the end of this press release.

Second Quarter 2017 Results
Net sales increased 0.6% to $373.6 million in the second quarter of 2017. Comparable retail sales increased 3.1% in the second quarter of 2017.

Net income was $14.3 million, or $0.79 per diluted share, in the second quarter of 2017, compared to a net loss of ($2.0) million, or ($0.11) per diluted share, the previous year.  Adjusted net income was $15.6 million, or $0.86 per diluted share, compared to an adjusted net loss of ($0.2) million, or ($0.01) per diluted share, in the second quarter last year. This $0.87 increase in adjusted net income per diluted share includes a $0.68 benefit resulting from the new accounting rules for the income tax impact on share-based compensation.

Gross profit was $128.4 million in the second quarter, compared to $123.9 million in the second quarter of 2016. Adjusted gross profit was $128.7 million in the second quarter, compared to $123.9 million last year, and leveraged 100 basis points to 34.4% of sales, driven by increases in AUR and merchandise margin resulting from strong product acceptance and inventory management, inclusive of the impact of the increased penetration of our ecommerce business which runs at a lower gross margin rate.

Selling, general and administrative expenses were $108.2 million compared to $107.9 million in the second quarter of 2016. Adjusted SG&A was $107.6 million compared to $107.9 million in the second quarter last year and leveraged 30 basis points as a percentage of sales primarily as a result of decreased store expenses, including lower store compensation expenses and credit card fees, partially offset by increased expenses related to the investment in our transformation initiatives and increased administrative compensation expenses.

Operating income was $3.2 million, compared to a net operating loss of ($2.9) million in the second quarter of 2016. Adjusted operating income in the second quarter of 2017 was $5.1 million, or 1.4% of net sales, compared to adjusted operating income of $0.1 million in the second quarter last year, leveraging 140 basis points compared to last year.

For the second quarter, the Company’s adjusted results exclude net expenses of approximately $1.3 million, compared to excluded net expenses of approximately $1.8 million in the second quarter of 2016, comprising certain items which the Company believes are not reflective of the performance of its core business. For the second quarter of 2017, these excluded items are primarily related to expenses associated with asset impairment charges, a state sales and use tax audit settlement, a provision for foreign exchange control penalties and an insurance claim deductible, partially offset by income related to restructuring costs. For the second quarter of 2016, these excluded items related primarily related to asset impairment charges.

Fiscal Year to Date
Net sales increased 2.5% to $810.3 million in the first half of fiscal 2017. Comparable retail sales increased 4.7% in the first half of fiscal 2017.

Net income was $50.5 million, or $2.76 per diluted share, in the first half of fiscal 2017, compared to net income of $24.0 million, or $1.24 per diluted share, the previous year. Adjusted net income was $51.6 million, or $2.82 per diluted share, compared to $25.6 million, or $1.32 per diluted share. This $1.50 increase in adjusted net income per diluted share includes an $0.87 benefit resulting from the new accounting rules for the income tax impact on share-based compensation.

Gross profit was $299.0 million in the first half of fiscal 2017, compared to $289.2 million last year.  Adjusted gross profit was $299.6 million, or 37.0% of net sales, leveraging 40 basis points compared to last year.

Selling, general and administrative expenses in the first half of fiscal 2017 were $220.4 million, compared to $217.1 million last year. Adjusted SG&A was $214.5 million, compared to $217.5 million last year, leveraging 100 basis points compared to last year.

Operating income was $45.5 million, compared to operating income of $36.7 million in fiscal 2016. Adjusted operating income was $53.5 million, or 6.6% of net sales, compared to $39.3 million, or 5.0% of net sales last year, an increase of 36%.

During the first half of fiscal 2017, the Company’s adjusted results exclude net expenses of approximately $1.0 million, compared to excluded net expenses of approximately $1.6 million during the first half of fiscal 2016, comprising certain items which the Company believes are not reflective of the performance of its core business. For the first half of fiscal 2017, these excluded items are primarily related to charges due to a provision for a legal settlement resulting from a pricing litigation, asset impairment charges, restructuring costs, a state sales and use tax audit settlement, a provision for foreign exchange control penalties, and an insurance claim deductible, partially offset by income associated with the release of reserves for prior year uncertain tax positions. For the first half of fiscal 2016, these excluded expenses primarily related to asset impairment charges, partially offset by income associated with restructuring costs.

Store Openings and Closures
In accordance with our fleet optimization initiative, the Company closed 7 stores and did not open any stores during the second quarter of 2017. The Company ended the quarter with 1,026 stores and square footage of 4.801 million, a decrease of 3.4% compared to the prior year. Since our fleet optimization initiative was announced in 2013, we have closed 156 stores.

The Company’s international franchise partners opened 6 points of distribution and closed 1 in the second quarter, and the Company ended the quarter with 161 international points of distribution open and operated by its 7 franchise partners in 19 countries.

Capital Return Program
During the second quarter of 2017, the Company repurchased 209,760 shares for approximately $25 million, consisting of shares repurchased and surrendered to cover tax withholdings associated with the vesting of equity awards held by management. The Company also paid a quarterly dividend of approximately $7 million, or $0.40 per share, in the quarter.

For the first half of 2017, the Company repurchased 507,368 shares for approximately $57 million, inclusive of shares repurchased and surrendered to cover tax withholdings associated with the vesting of equity awards held by management. The Company also paid quarterly dividends totaling approximately $14 million in the first half of 2017.

Since 2009, the Company has returned over $829 million to its investors through share repurchases and dividends. At the end of the second quarter of 2017, approximately $306 million remained available for future share repurchases under the Company’s existing share repurchase programs.

Additionally, the Company’s Board of Directors authorized a quarterly dividend of $0.40 per share. The dividend for the third quarter is payable on October 3, 2017 to shareholders of record at the close of business on September 12, 2017.

Outlook
The Company is updating its outlook for fiscal 2017 and now expects adjusted net income per diluted share to be in the range of $7.23 to $7.33, inclusive of an $0.89 benefit resulting from new accounting rules for the income tax impact on share-based compensation. This compares to the Company’s previous guidance for adjusted net income per diluted share of $7.10 to $7.20, inclusive of an $0.89 benefit resulting from new accounting rules for the income tax impact on share-based compensation. Excluding the tax benefit, full year adjusted net income per diluted share guidance is projected to increase 17% to 19% compared to adjusted net income per diluted share of $5.43 last year. This guidance assumes an approximate 3% increase in comparable retail sales for the year.

This guidance for adjusted net income per diluted share excludes year to date net expenses of approximately $1.0 million related to charges due to a provision for a legal settlement resulting from a pricing litigation, asset impairment charges, restructuring costs, a state sales and use tax audit settlement, a provision for foreign exchange control penalties, and an insurance claim deductible, partially offset by income associated with the release of reserves for prior year uncertain tax positions, as the Company believes these items are not reflective of the performance of its core business.

The Company expects adjusted net income per diluted share in the third quarter of 2017 will be between $2.41 and $2.46. This compares to adjusted net income per diluted share of $2.29 in the third quarter of 2016. This guidance assumes a low single digit increase in comparable retail sales.

Financial Results
The Company’s results are reported in this press release on a GAAP and as adjusted, non-GAAP basis. Adjusted net income, adjusted net income per diluted share, adjusted gross profit, adjusted SG&A, and adjusted operating income are non-GAAP measures, and are not intended to replace GAAP financial information and may be different from non-GAAP measures reported by other companies. The Company believes the income and expense items excluded as non-GAAP adjustments are not reflective of the performance of its core business and that providing this supplemental disclosure to investors will facilitate comparisons of the past and present performance of its core business.  The Company uses non-GAAP measures to evaluate and measure operating performance, including, to measure performance for purposes of the Company’s annual bonus and long-term incentive compensation plans. A reconciliation of non-GAAP to GAAP financial information is provided at the end of this press release.

Conference Call Information
The Children’s Place will host a conference call to discuss its second quarter 2017 results today at 8:00 a.m. Eastern Time. The call will be broadcast live at http://investor.childrensplace.com. An audio archive will be available on the Company’s website approximately one hour after the conclusion of the call.

About The Children’s Place, Inc.
The Children’s Place is the largest pure-play children’s specialty apparel retailer in North America.  The Company designs, contracts to manufacture, sells at retail and wholesale, and licenses to sell fashionable, high-quality merchandise at value prices, primarily under the proprietary “The Children’s Place,” “Place” and “Baby Place” brand names.  As of July 29, 2017, the Company operated 1,026 stores in the United States, Canada and Puerto Rico, an online store at www.childrensplace.com, and had 161 international points of distribution open and operated by its 7 franchise partners in 19 countries.

Forward Looking Statement

This press release contains, and the above referenced conference call may contain, forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements relating to the Company’s strategic initiatives and adjusted net income per diluted share.  Forward-looking statements typically are identified by use of terms such as “may,” “will,” “should,” “plan,” “project,” “expect,” “anticipate,” “estimate” and similar words, although some forward-looking statements are expressed differently.  These forward-looking statements are based upon the Company’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results and performance to differ materially. Some of these risks and uncertainties are described in the Company’s filings with the Securities and Exchange Commission, including in the “Risk Factors” section of its Annual Report on Form 10-K for the fiscal year ended January 28, 2017. Included among the risks and uncertainties that could cause actual results and performance to differ materially are the risk that the Company will be unsuccessful in gauging fashion trends and changing consumer preferences, the risks resulting from the highly competitive nature of the Company’s business and its dependence on consumer spending patterns, which may be affected by weakness in the economy that continues to affect the Company’s target customer, the risk that the Company’s strategic initiatives to increase sales and margin are delayed or do not result in anticipated improvements, the risk of delays, interruptions and disruptions in the Company’s global supply chain, including resulting from foreign sources of supply in less developed countries or more politically unstable countries, the risk that the cost of raw materials or energy prices will increase beyond current expectations or that the Company is unable to offset cost increases through value engineering or price increases, and the uncertainty of weather patterns. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contact: 
Robert Vill
Group Vice President
Finance
(201) 453-6693

Source: Children’s Place, Inc./globenewswire

The Children’s Place names Steven G. Rado Chief Digital Officer

SECAUCUS, N.J., 2017-Aug-10 — /EPR Retail News/ — The Children’s Place, Inc.(Nasdaq:PLCE), the largest pure-play children’s specialty apparel retailer in North America, today (Aug. 09, 2017) announced the appointment of Steven G. Rado to the position of Chief Digital Officer, effective  August 14, 2017.  Mr. Rado will report directly to Jane Elfers, President and Chief Executive Officer.

Jane Elfers, President and Chief Executive Officer said, “We believe that a Personalized Customer Contact Strategy is our single biggest opportunity, and we have made the decision to significantly accelerate the development and implementation of this initiative.  Steve’s deep experience in all aspects of marketing, including strategy development, customer relationship management, and digital commerce, combined with his successful track record of delivering digital transformation through personalized customer contact at Victoria’s Secret, Office Depot and Land’s End, make him the ideal candidate to lead this effort at The Children’s Place.”

Mr. Rado said, “I am very excited to join the best in class management team at The Children’s Place and drive the significant benefits associated with implementing a robust Personalized Customer Contact Strategy.”

Mr. Rado received his BS in Business Administration from Bowling Green State University, his MBA from The Ohio State University and his Juris Doctor from Case Western Reserve University School of Law.

About The Children’s Place, Inc.
The Children’s Place is the largest pure-play children’s specialty apparel retailer in North America.  The Company designs, contracts to manufacture, sells at retail and wholesale, and licenses to sell fashionable, high-quality merchandise at value prices, primarily under the proprietary “The Children’s Place,” “Place” and “Baby Place” brand names.  As of July 29, 2017, the Company operated 1,026 stores in the United States, Canada and Puerto Rico, an online store at www.childrensplace.com, and had 161 international points of distribution open and operated by its 7 franchise partners in 19 countries.

Forward Looking Statements
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements relating to the Company’s strategic initiatives and adjusted net income per diluted share.  Forward-looking statements typically are identified by use of terms such as “may,” “will,” “should,” “plan,” “project,” “expect,” “anticipate,” “estimate” and similar words, although some forward-looking statements are expressed differently.  These forward-looking statements are based upon the Company’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results and performance to differ materially. Some of these risks and uncertainties are described in the Company’s filings with the Securities and Exchange Commission, including in the “Risk Factors” section of its annual report on Form 10-K for the fiscal year ended January 28, 2017. Included among the risks and uncertainties that could cause actual results and performance to differ materially are the risk that the Company will be unsuccessful in gauging fashion trends and changing consumer preferences, the risks resulting from the highly competitive nature of the Company’s business and its dependence on consumer spending patterns, which may be affected by the weakness in the economy which continue to affect the Company’s target customer, the risk that the Company’s strategic initiatives to increase sales and margin are delayed or do not result in anticipated improvements, the risk of delays, interruptions and disruptions in the Company’s global supply chain, including resulting from foreign sources of supply in less developed countries or politically unstable countries, the risk that the cost of raw materials or energy prices will increase beyond current expectations or that the Company is unable to offset cost increases through value engineering or price increases, and the uncertainty of weather patterns. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contact: 
Robert Vill
Group Vice President
Finance
(201) 453-6693

Source: Children’s Place, Inc./globenewswire

The Children’s Place declares a quarterly cash dividend of $0.40 per share

Company Has Returned Over $829 Million to Shareholders Since 2009

SECAUCUS, N.J., 2017-Aug-10 — /EPR Retail News/ — The Children’s Place, Inc.(Nasdaq:PLCE), the largest pure-play children’s specialty apparel retailer in North America, today ( Aug. 09, 2017) announced that its Board of Directors has declared a quarterly dividend.

Jane Elfers, President and Chief Executive Officer, commented, “We continued to deliver outstanding operating results in the second quarter and the continuation of our quarterly dividend is a further reflection of our confidence in our ability to execute on our strategic initiatives and our continuing commitment to return excess capital to shareholders. The Children’s Place has a profitable business model which generates strong cash flow. Since 2009, we have returned over $829 million to shareholders through dividends and share repurchases.”

The Board declared a quarterly cash dividend of $0.40 per share to be paid October 3, 2017to shareholders of record at the close of business on September 12, 2017.  Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Company’s Board of Directors based on a number of factors, including business and market conditions, the Company’s future financial performance and other investment priorities.

About The Children’s Place, Inc.
The Children’s Place is the largest pure-play children’s specialty apparel retailer in North America.  The Company designs, contracts to manufacture, sells at retail and wholesale, and licenses to sell fashionable, high-quality merchandise at value prices, primarily under the proprietary “The Children’s Place,” “Place” and “Baby Place” brand names.  As of July 29, 2017, the Company operated 1,026 stores in the United States, Canada and Puerto Rico, an online store at www.childrensplace.com, and had 161 international points of distribution open and operated by its 7 franchise partners in 19 countries.

Forward Looking Statement

This press release may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements relating to the Company’s strategic initiatives and adjusted net income per diluted share.  Forward-looking statements typically are identified by use of terms such as “may,” “will,” “should,” “plan,” “project,” “expect,” “anticipate,” “estimate” and similar words, although some forward-looking statements are expressed differently.  These forward-looking statements are based upon the Company’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results and performance to differ materially. Some of these risks and uncertainties are described in the Company’s filings with the Securities and Exchange Commission, including in the “Risk Factors” section of its Annual Report on Form 10-K for the fiscal year ended January 28, 2017. Included among the risks and uncertainties that could cause actual results and performance to differ materially are the risk that the Company will be unsuccessful in gauging fashion trends and changing consumer preferences, the risks resulting from the highly competitive nature of the Company’s business and its dependence on consumer spending patterns, which may be affected by weakness in the economy that continues to affect the Company’s target customer, the risk that the Company’s strategic initiatives to increase sales and margin are delayed or do not result in anticipated improvements, the risk of delays, interruptions and disruptions in the Company’s global supply chain, including resulting from foreign sources of supply in less developed countries or more politically unstable countries, the risk that the cost of raw materials or energy prices will increase beyond current expectations or that the Company is unable to offset cost increases through value engineering or price increases, and the uncertainty of weather patterns. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contact:
Robert Vill
Group Vice President
Finance
(201) 453-6693

Source: Children’s Place, Inc./globenewswire

USDA FSIS: Kenosha Beef International recalls beef patty products due to misbranding and an undeclared allergen

USDA FSIS: Kenosha Beef International recalls beef patty products due to misbranding and an undeclared allergen

 

WASHINGTON, 2017-Aug-10 — /EPR Retail News/ — Kenosha Beef International, LTD., a Kenosha, Wis. establishment, is recalling approximately 3,960 pounds of beef patty products due to misbranding and an undeclared allergen, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today (Aug. 9, 2017). The products may contain milk, in the form of cheddar cheese, a known allergen that was not declared on the finished product label. The products also contain undeclared bacon.

The bacon cheddar beef patty products were produced on June 14, 2017. The following products are subject to recall: 

  • 4-lb retail carton containing 12, 1/3 pound burgers of “JP O’REILLY’S, PUB BURGER, FAMILY PACK, MADE FROM BEEF CHUCK,” with a sell-by date of 01-10-18.
  • 24-lb cases of “JP O’REILLY’S, BACON & CHEDDAR BEEF PATTIES” with sell-by date of 01-10-18 and case codes of 0614KS42065, 0614KS42066, 0614KS42067, 0614KS42068 and 0614KS42070.

The products subject to recall have establishment number “EST. 425B” printed adjacent to the sell-by date on the retail carton and inside the USDA mark of inspection on the shipping case. These items were shipped to retail locations in Connecticut, Delaware, Maryland, New Jersey, New York and Pennsylvania.

The problem was discovered on Aug. 9, 2017 when the firm received two consumer complaints regarding the bacon cheddar beef patties not being labeled as bacon and cheddar. Specifically, the products were labeled as “JP O’Reilly’s PUB BURGER,” but contained “JP O’Reilly’s Bacon Cheddar Beef Patties.”

There have been no confirmed reports of adverse reactions due to consumption of these products. Anyone concerned about an injury or illness should contact a healthcare provider.

Consumers who have purchased these products are urged not to consume them. These products should be thrown away or returned to the place of purchase.

FSIS routinely conducts recall effectiveness checks to verify recalling firms notify their customers of the recall and that steps are taken to make certain that the product is no longer available to consumers. When available, the retail distribution list(s) will be posted on the FSIS website at www.fsis.usda.gov/recalls.

Consumers with questions about the recall can contact Peter Policastro, President, at (732) 515-9314. Members of the media with questions about the recall can contact Dennis Vignieri, CEO, at (262) 859-2272 ext. 1205.

Consumers with food safety questions can “Ask Karen,” the FSIS virtual representative available 24 hours a day at AskKaren.gov or via smartphone at m.askkaren.gov. The toll-free USDA Meat and Poultry Hotline 1-888-MPHotline (1-888-674-6854) is available in English and Spanish and can be reached from 10 a.m. to 6 p.m. (Eastern Time) Monday through Friday. Recorded food safety messages are available 24 hours a day. The online Electronic Consumer Complaint Monitoring System can be accessed 24 hours a day at: http://www.fsis.usda.gov/reportproblem.

USDA Recall Classifications
Class I This is a health hazard situation where there is a reasonable probability that the use of the product will cause serious, adverse health consequences or death.
Class II This is a health hazard situation where there is a remote probability of adverse health consequences from the use of the product.
Class III This is a situation where the use of the product will not cause adverse health consequences.

Contact:

Congressional and Public Affairs
Veronika Medina
(202) 720-9113
Press@fsis.usda.gov

Source: USDA

###

New DESPAR store opens at the main railway station in Bologna

Bologna, 2017-Aug-10 — /EPR Retail News/ — Aspiag Service, the licence holder for the SPAR Brand in the Northeast of Italy and Emilia Romagna, has opened a new company-owned DESPAR store at the main railway station in Bologna, a major hub for railway traffic in the country.

The store, with a selling surface of 386m2, has long opening hours; trading seven days a week from 7 am until 9 pm. Customers can pay for their groceries at one traditional till or three self-checkouts.

Its assortment of around 10,000 SKUs comprises almost exclusively food items with a focus on quality, freshness and convenience. Mr Montalvo, General Manager of DESPAR Northeast, has declared: “We want to stand for quality in Bologna.”

The store employs 20 people, mostly new hires, coordinated by Store Manager, Ivan Gallegra. It has a low environmental footprint with state-of-the-art equipment that has been selected for longevity and sustainability. In particular, the store’s cooling system runs on what’s referred to as a transcritical cycle, which uses exclusively CO2 and no harmful or polluting gasses. High-efficiency chilled cabinets have been installed as well as air conditioning based on heat pump technology and a 100% LED lighting system.

Aspiag Service is the first retailer in Italy to gain certification for its environmental management system. The renovation of both the inside and outside of the store was supervised by the Environment and Cultural Heritage Authority of Bologna.

Aspiag Service is expanding the presence of the DESPAR Brand in Bologna, where it already operates two EUROSPAR Supermarkets and another DESPAR store. The SPAR Brand already has a well-established presence in the North-eastern regions of Italy, where it operates 224 company-owned stores. Aspiag supplies an additional 350 independent SPAR retailers. The SPAR Partner achieved retail sales of 2.7 billion euros in 2016, affirming itself as one of the strongest and most dynamic retail companies in the regions in which it operates, with a market share of 15.61% (source: ACNielsen).

The three Distribution Centres (located near Padua, in Bolzano and Udine) and the 224 stores operated by Aspiag, employ about 7,600 people. “Our company is expanding and generating employment,” said General Manager, Francesco Montalvo. “In Bologna we want to continuously stand for quality, while enacting our commitment of adding value to the communities we serve.”

An example of adding value has been Aspiag Service’s work with Last Minute Market and the Food Bank since the early 2000s, with the aim of preventing waste of unsold food by donating the goods to local charities and associations.

In 2016, the company donated 5.4 million euros worth of unsold food – representing about 1.8 million meals for people in need. The new DESPAR store at Bologna Central Station will also soon be matched with a local charity, becoming part of this impactful cycle.

Contact:

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

Source: Spar International

Colruyt Group: the eggs on our shelves are safe

Halle, Belgium, 2017-Aug-10 — /EPR Retail News/ — Our customers’ safety and health is our first and most important priority. Colruyt Group is closely monitoring the situation with regards to the current Fipronil contamination in the eggs. We continue asking our suppliers for supplementary analyses, as an extra control on top of the analyses that were done by the FASFC (Federal Agency for the Safety of the Food Chain). In this way, we want to ensure that the eggs that are currently on our shelves, are safe.

For the moment, none of the Colruyt Group stores have the impacted lot numbers that are mentioned on the FASFC website on their shelves. This has been a fact in the past. Even though we were very fast in removing the affected lots from our shelves following the demand of the supplier, there is a possibility that a certain amount of customers have bought eggs of those specific lots (it concerns eggs of the brand Boni and Everyday). These clients can return those eggs to their stores, where they will be helped by our staff.

No implicated eggs for sale

The lot numbers of the eggs with excessive concentrations of Fipronil are mentioned on the website of the FASFC. Colruyt Group has none of these lot numbers for sale anymore. Some lot numbers of our safe eggs sometimes only differ by one digit from the lot numbers of the eggs with too much fipronil. To be on the safe side, we now removed all lots of those eggs (Boni and Everyday) from our shelves as well, in order to avoid further confusion among our customers.

Extra checks of our eggs

The eggs on our shelves have not only been screened by the FASFC. Colruyt Group has taken it a step further and asked our suppliers to supply extra analyses of their samples, and we are carrying out extra checks. In this way we have built in an additional guarantee for the safety of our customers. We monitor the situation and will examine whether extra measures are required. Today, the eggs on the shelves of the Colruyt Group stores are safe.

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

Source: Colruyt Group