Daily Archives: August 27, 2017

Posted on by

US Foods Scholars: New program that awards financial support and professional development opportunities to students Pursuing Careers in the Culinary Arts

US Foods Scholars: New program that awards financial support and professional development opportunities to students Pursuing Careers in the Culinary Arts

 

US Foods Scholars to Award Scholarships and Professional Development Opportunities to Students Pursuing Careers in the Culinary Arts

ROSEMONT, Ill., 2017-Aug-28 — /EPR Retail News/ — US Foods (NYSE: USFD) is pleased to announce the creation of US Foods Scholars, a program that awards financial support and professional development opportunities to students who plan to pursue an education in the culinary arts and enter the restaurant industry.

Launching in Chicago, the company will partner with the Careers through Culinary Arts Program (C-CAP) to identify participating high school seniors who have demonstrated outstanding potential and achievement in the culinary arts and need additional resources to take the next step of their culinary journey. The program aims to inspire students to reach their full potential and contribute a meaningful solution to the talent shortage facing the restaurant industry.

“As the restaurant industry continues to surge with a forecast of 1.7 million new restaurant positions by 2025, there is an overwhelming need for skilled applicants1,” said Debra Ceffalio, senior director of corporate communications, US Foods. “US Foods Scholars is a way we can help the industry tackle a major challenge, and support our communities in a meaningful way, beginning right here in Chicago.”

“We are thrilled to have the support of US Foods. The US Foods Scholars program will have a lasting impact on these students who might not otherwise have the means and opportunity to pursue a career in the culinary arts,” said Karen Brosius, president of C-CAP. “As one of the country’s largest foodservice companies, US Foods will also be able to provide unique and valuable training opportunities for our students.”

About Careers through Culinary Arts Program (C-CAP)

Led by chef, author, and restaurateur Marcus Samuelsson as board co-chair, Careers through Culinary Arts Program (C-CAP) is a national non-profit that educates and guides underserved high school students toward a bright future. Through its holistic approach to culinary training and career exploration, C-CAP prepares students for the workplace through chef mentoring, field trips, job shadows, work experience and job skills, and college and career advising. As part of this well-rounded support, C-CAP also provides hundreds of high school graduates with scholarships to afford further training. C-CAP’s work impacts over 17,000 students each year and has awarded over $53 million in scholarships since its inception in 1990. Countless C-CAP alumni work throughout the country and are guiding the future leaders of the culinary and hospitality industry. Visit ccapinc.org to learn more.

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 usfoods.com to learn more.

1 Bureau of Labor Statistics

Contact:
Sara Matheu
847-720-2392
Sara.Matheu@usfoods.com

Source: US Foods

###

Posted on by

Dunkin’ Brands publishes its 2015-2016 Corporate Social Responsibility (CSR) Report

CANTON, MA, 2017-Aug-28 — /EPR Retail News/ — Dunkin’ Brands Group, Inc. (Nasdaq: DNKN), the parent company of Dunkin’ Donuts and Baskin-Robbins, has published its 2015-2016 Corporate Social Responsibility (CSR) Report. The report provides a detailed overview of the company’s ongoing efforts to source ingredients responsibly, reduce energy use in corporate holdings, provide more menu transparency and be a force for good in local communities, among others. The report also details progress made against commitments outlined in Dunkin’ Brands’ most recent CSR report, issued in 2015.

Key highlights of the report include:Sustainable Building: In 2014 Dunkin’ Brands launched DD Green™ Achievement, a program designed to help Dunkin’ Donuts franchisees build sustainable, energy-efficient restaurants in the U.S. The company set a goal for 100 DD Green Achievement restaurants by the end of 2016, and reached that milestone in October 2016. There are now approximately 150 DD Green Achievement restaurants around the country. In 2017, Dunkin’ Brands is setting a target to open 500 DD Green Achievement restaurants in the U.S. by the end of 2020.

Since 2010, Dunkin’ Brands experienced a 35% drop in electricity use at its Corporate Headquarters, and a 57% drop in heating and 35% drop in electricity use at its training facility. For the first time ever, Dunkin’ Brands is setting 2020 and 2025 energy reduction goals for its corporate holdings.

Removal of Synthetic Dyes: To meet customers’ preference for more nutritional transparency and simpler ingredients, in 2017 Dunkin’ Brands announced a goal to remove synthetic dyes from the Dunkin’ Donuts and Baskin-Robbins U.S. menus by the end of 2018, with the exception of some supplier-branded ingredients produced by other companies. Both the Dunkin’ Donuts and Baskin-Robbins product development teams, in partnership with suppliers, have been working to replace synthetic dyes.

Responsible Sourcing: In 2014, Dunkin’ Brands issued its Guidelines for Sourcing Palm Oil, and since then has engaged in a multi-stakeholder effort to source sustainable palm oil – from mapping its U.S. and international supply chains, to instructing U.S. suppliers to purchase certified mass balance palm oil materials for U.S. operations. Dunkin’ Brands also joined the Roundtable for Sustainable Palm Oil (RSPO). In 2017, Dunkin’ Brands plans on releasing revised and updated Guidelines for Sourcing Palm Oil, which will include a goal of fully traceable palm oil to the mill by a timebound date, while continuing to work with suppliers to improve traceability data.

As a coffee leader, Dunkin’ Donuts is committed to incorporating certified products in its coffee portfolio and helping to make a positive impact on farming communities worldwide. In 2017, the brand expanded its current work with the Rainforest Alliance to have all Dunkin’ Donuts’ espresso beverages served at Dunkin’ Donuts U.S. restaurants and in approximately 16 international markets made with 100% espresso beans sourced from Rainforest Alliance Certified™ farms.

Dunkin’ Brands issued its new Sustainable Pulp and Paper Sourcing policy in 2016. This includes a goal to source 80% of the packaging used in Dunkin’ Donuts restaurants and Baskin-Robbins restaurants in the U.S. from Sustainable Forestry Initiative (SFI) sources (up from 60% today) by the end of 2018. The policy can be found at http://www.dunkinbrands.com/responsibility/policies-and-statements.

The Joy In Childhood Foundation℠: Dunkin’ Brands franchisees value the role they can play in strengthening the neighborhoods they serve. In 2016, Dunkin’ Brands re-launched its Foundation with a new mission, vision and name – the Joy in Childhood Foundation – to reflect the company’s continued commitment to providing simple moments of joy to sick and hungry kids. This rebranding coincided with the exciting milestone of the Foundation’s 10-year anniversary. Since 2006, the Joy in Childhood Foundation, formerly The Dunkin’ Donuts & Baskin-Robbins Community Foundation, has granted $14 million to help improve the lives of children and families in the communities where the brand operates.

2016 also marked Dunkin’ Brands’ most successful year ever for its in-store fundraisers, Community Cups℠ and Community Cones℠, which raised $1.3 million thanks to Dunkin’ Donuts’ and Baskin-Robbins’ generous guests.

Diversity: Finally, Dunkin’ Brands has done a tremendous amount of work to increase diversity and inclusion in the workplace since its last report.

For instance, in 2016, Dunkin’ Brands made a public commitment to developing and paying women equally. Dunkin’ Brands was one of 100+ companies that signed the White House Equal Pay Pledge, and is a member of the Boston Women’s Workforce Council’s 100% Talent Compact. In addition, Dunkin’ Brands launched new employee resource groups (ERGs), which are open to all employees in the organization, to create a more inclusive workplace environment.

“Our newest Corporate Social Responsibility Report shows that Dunkin’ Brands has made important progress in sustainable sourcing and building, energy efficiency, menu transparency and community giving,” said Nigel Travis, Chairman and Chief Executive Officer of Dunkin’ Brands. “We are proud of our successes in helping our franchisees open new DD Green Achievement restaurants, working towards removing synthetic dyes from our menus, expanding our partnership with the Rainforest Alliance, and re-launching our Foundation to provide joy to sick and hungry kids. However, as we both look back and ahead, we recognize how much more there is to be done. We remain dedicated to meeting the challenges that face our business, and to serve our people and our planet responsibly.”

To download and read the report, or to learn more about Dunkin’ Brands’ CSR initiatives, please visit www.dunkinbrands.com/responsibility.

About Dunkin’ Brands Group, Inc.

With more than 20,000 points of distribution in more than 60 countries worldwide, Dunkin’ Brands Group, Inc. (Nasdaq: DNKN) is one of the world’s leading franchisors of quick service restaurants (QSR) serving hot and cold coffee and baked goods, as well as hard-serve ice cream. At the end of the second quarter 2017, Dunkin’ Brands’ 100 percent franchised business model included more than 12,300 Dunkin’ Donuts restaurants and more than 7,800 Baskin-Robbins restaurants. Dunkin’ Brands Group, Inc. is headquartered in Canton, Mass.

CONTACT INFORMATION:
Name: Lindsay Cronin
Phone: 781-737-5200
Email: press@dunkinbrands.com

Source: Dunkin’ Brands Group, Inc.

Posted on by

Amazon’s acquisition of Whole Foods Market will close on Monday August 28, 2017

Seattle, Wash. & Austin, Texas, 2017-Aug-28 — /EPR Retail News/ — Amazon and Whole Foods Market today (August 24, 2017) announced that Amazon’s acquisition of Whole Foods Market will close on Monday August 28, 2017, and the two companies will together pursue the vision of making Whole Foods Market’s high-quality, natural and organic food affordable for everyone. As a down payment on that vision, Whole Foods Market will offer lower prices starting Monday on a selection of best-selling grocery staples across its stores, with more to come.

In addition, Amazon and Whole Foods Market technology teams will begin to integrate Amazon Prime into the Whole Foods Market point-of-sale system, and when this work is complete, Prime members will receive special savings and in-store benefits. The two companies will invent in additional areas over time, including in merchandising and logistics, to enable lower prices for Whole Foods Market customers.

“We’re determined to make healthy and organic food affordable for everyone. Everybody should be able to eat Whole Foods Market quality – we will lower prices without compromising Whole Foods Market’s long-held commitment to the highest standards,” said Jeff Wilke, CEO of Amazon Worldwide Consumer. “To get started, we’re going to lower prices beginning Monday on a selection of best-selling grocery staples, including Whole Trade organic bananas, responsibly-farmed salmon, organic large brown eggs, animal-welfare-rated 85% lean ground beef, and more. And this is just the beginning – we will make Amazon Prime the customer rewards program at Whole Foods Market and continuously lower prices as we invent together. There is significant work and opportunity ahead, and we’re thrilled to get started.”

“It’s been our mission for 39 years at Whole Foods Market to bring the highest quality food to our customers,” said John Mackey, Whole Foods Market co-founder and CEO. “By working together with Amazon and integrating in several key areas, we can lower prices and double down on that mission and reach more people with Whole Foods Market’s high-quality, natural and organic food. As part of our commitment to quality, we’ll continue to expand our efforts to support and promote local products and suppliers. We can’t wait to start showing customers what’s possible when Whole Foods Market and Amazon innovate together.”

Here’s what will be new in Whole Foods Market stores on Monday and what customers can expect over time as the two companies integrate:

  • Starting Monday, Whole Foods Market will offer lower prices on a selection of best-selling staples across its stores, with much more to come. Customers will enjoy lower prices on products like Whole Trade bananas, organic avocados, organic large brown eggs, organic responsibly-farmed salmon and tilapia, organic baby kale and baby lettuce, animal-welfare-rated 85% lean ground beef, creamy and crunchy almond butter, organic Gala and Fuji apples, organic rotisserie chicken, 365 Everyday Value organic butter, and much more.
  • In the future, after certain technical integration work is complete, Amazon Prime will become Whole Foods Market’s customer rewards program, providing Prime members with special savings and other in-store benefits.
  • Whole Foods Market’s healthy and high-quality private label products—including 365 Everyday Value, Whole Foods Market, Whole Paws and Whole Catch—will be available through Amazon.com, AmazonFresh, Prime Pantry and Prime Now.
  • Amazon Lockers will be available in select Whole Foods Market stores. Customers can have products shipped from Amazon.com to their local Whole Foods Market store for pick up or send returns back to Amazon during a trip to the store.

This is just the beginning – Amazon and Whole Foods Market plan to offer more in-store benefits and lower prices for customers over time as the two companies integrate logistics and point-of-sale and merchandising systems.

Whole Foods Market will continue to grow its team and create jobs in local communities as it opens new stores, hires new team members, and expands its support of local farmers and artisans. The company will maintain operations under the Whole Foods Market brand, preserve its high standards and commitment to providing the finest natural and organic foods, and continue to source from trusted vendors and partners around the world. John Mackey will remain as CEO and Whole Foods Market’s headquarters will stay in Austin, Texas

Cautionary Statement Regarding Amazon Forward-Looking Statements 
This communication contains forward-looking statements.  We use words such as anticipates, believes, expects, future, intends, and similar expressions to identify forward-looking statements.  Actual results could differ materially from those projected or forecast in the forward-looking statements. Factors that could cause actual results to differ materially include the following: factors that could affect the timing of the consummation of Amazon’s acquisition of Whole Foods Market; Amazon may be unable to achieve the anticipated benefits of the transaction; revenues following the transaction may be lower than expected; operating costs, customer loss, and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers, and suppliers) may be greater than expected; Amazon may assume unexpected risks and liabilities; initiatives with Whole Foods Market may distract Amazon’s management from other operations; and the other factors discussed in “Risk Factors” in Amazon’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and in Amazon’s other filings with the SEC, which are available at http://www.sec.gov. Amazon assumes no obligation to update the information in this communication, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.

Contact:
SOmedia@wholefoods.com

Source: Whole Foods Market

Posted on by

Apple to build new data center in Waukee, Iowa; facility will run entirely on renewable energy

Facility Outside Des Moines Will Run on 100 Percent Renewable Energy

Des Moines, Iowa, 2017-Aug-28 — /EPR Retail News/ — Apple today (AUGUST 24, 2017) announced plans to build a 400,000-square-foot, state-of-the-art data center in Waukee, Iowa, to better serve North American users of iMessage, Siri, the App Store and other Apple services. Like all Apple data centers, the new facility will run entirely on renewable energy from day one.

Apple’s investment of $1.3 billion will create over 550 construction and operations jobs in the Des Moines area, and the company is contributing up to $100 million to a newly created Public Improvement Fund dedicated to community development and infrastructure around Waukee.

“At Apple, we’re always looking at ways to deliver even better experiences for our customers. Our new data center in Iowa will help serve millions of people across North America who use Siri, iMessage, Apple Music and other Apple services — all powered by renewable energy,” said Tim Cook, Apple’s CEO. “Apple is responsible for 2 million jobs in all 50 states and we’re proud today’s investment will add to the more than 10,000 jobs we already support across Iowa, providing even more economic opportunity for the community.”

The new Public Improvement Fund, to be established and managed by the City of Waukee, will support the development of community projects like parks, libraries and recreational spaces, as well as infrastructure needs. The first project the fund will support is construction of the Waukee Youth Sports Campus featuring a greenhouse, playground, fishing pier and fields for high school and public sporting events.

Apple will be working with local partners to invest in renewable energy projects from wind and other sources to power the data center. Apple has pledged to power all of its global operations with 100 percent renewable energy, and has already reached that goal in the US and 23 other countries.

“We’re honored Apple is choosing Iowa for the site of its most technologically advanced data center to date,” said Iowa Governor Kim Reynolds. “Apple’s commitment to innovation and renewable energy leadership mirrors our own. This investment in our state is vital as we continue to develop as a technology hub and grow our workforce.”

“Waukee is proud to welcome Apple,” said Waukee Mayor Bill Peard. “This new facility will bring with it high-quality jobs and important infrastructure developments for the city. We look forward to a continued partnership with Apple on this effort for decades to come.”

Construction on the data center is expected to start early next year and Apple plans to bring it online in 2020.

Apple is one of the biggest job creators in the United States, responsible for 2 million jobs. Last year, Apple spent over $50 billion with more than 9,000 US suppliers and manufacturers. Since the launch of the App Store in 2008, US developers have earned over $16 billion in App Store sales worldwide.

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch and Apple TV. Apple’s four software platforms — iOS, macOS, watchOS and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.

Press Contacts:
Josh Rosenstock
Apple
jrosenstock@apple.com
(408) 981-6938

Apple Media Helpline:
media.help@apple.com
(408) 974-2042

Rachel Wolf Tulley
Apple
rachel_tulley@apple.com
(408) 974-0078

Source: Apple Inc.

Posted on by

Perry Ellis International Q@ 2018 results: Total revenues of $207 million and rising 2.5% from $202 million in 2017

MIAMI, 2017-Aug-28 — /EPR Retail News/ — Perry Ellis International, Inc. (NASDAQ:PERY) today (August 24, 2017) reported results for the second quarter ended July 29, 2017 (“second quarter of fiscal 2018”).  Second quarter results reflected increases across key financial metrics including increased total revenues and expansion in gross margin, which led to a more than doubling of pre-tax income versus the prior year second quarter.

Key Fiscal Second Quarter 2018 Financial Accomplishments and Operational Highlights:

  • Total revenues of $207 million, exceeding guidance of $202 to $205 million and rising 2.5% (3.0% in constant currency) from $202 million reported in the second quarter of fiscal 2017
  • GAAP gross margin expanded 40 basis points to 37.0% as compared to 36.6% in the prior year period reflecting increases in margin across core brands
  • Adjusted pre-tax income of $3.2 million, rose 116% from adjusted pre-tax income of $1.5 million in the second quarter of fiscal 2017;
  • GAAP pre-tax income was $2.7 million compared to a pre-tax loss of $4.4 million in the comparable period of the prior year
  • Adjusted diluted EPS of $0.16, exceeded guidance of $0.07 to $0.10 per diluted share, compared to adjusted diluted EPS of $0.15 in the second quarter of fiscal 2017;
  • GAAP diluted EPS was $0.06 compared to a diluted EPS loss of $0.24 in the comparable period of the prior year
  • First six months, cash flow from operations tops $40 million with net debt to total capitalization of 8.6%

Company reiterates guidance for fiscal year 2018 for revenues in a range of $870 million to $880 million and diluted earnings per share in a range of $2.07 to $2.17.

Oscar Feldenkreis, Chief Executive Officer and President, commented, “We delivered strong second quarter results, exceeding both our top and bottom line guidance, continuing our positive momentum from first quarter.  Our ongoing positive performance demonstrates the power of our core brands, the strong response to our product innovations and the intense focus with which we direct our resources to deliver.  As a result of our strategies, the quarter saw growth across all key operating metrics with increased net revenue, expansion in gross margin, a significant increase in operating profit and a more than doubling of adjusted pre-tax earnings. Of particular strength were our PERRY ELLIS, Original Penguin, Golf Sportswear and Nike brands.  Our brands and business are positioned for success as we enter the fall season and as such have reiterated our guidance.”

Fiscal 2018 Second Quarter Results

Total revenue was $207 million, a 2.5% increase (3.0% in constant currency) compared to $202 million reported in the second quarter of fiscal 2017.  This reflected growth in core brand sales and strong sell through rates throughout the spring season. The disciplined management of inventory along with increased sales of higher margin core brands led to a 40 basis point expansion in GAAP gross margin to 37.0% in the second quarter from 36.6% in the second quarter of fiscal 2017.  Adjusted gross margin was also 37.0% compared with adjusted gross margin of 36.6% in the comparable period of the prior year.  (Adjusted gross margin excludes certain items as outlined in Table 2 Reconciliation of Gross Profit to Adjusted Gross Profit and Adjusted Gross Margin.)

Adjusted EBITDA totaled $8.5 million as compared to $7.1 million in the comparable period of the prior year. (Adjusted EBITDA excludes certain items as outlined in Table 3, Reconciliation of Net Income to EBITDA and Adjusted EBITDA.)

Adjusted pre-tax income was $3.2 million, increasing 116% from $1.5 million in the second quarter of fiscal 2017. GAAP pre-tax income was $2.7 million compared to a pre-tax loss of $4.4 million in the comparable period of prior year. (Adjusted pre-tax income (loss) excludes certain items as outlined in Table 4 Reconciliation of Net Income (loss) before taxes to Adjusted Net Income (loss) before taxes.)

As reported under GAAP, the second quarter of fiscal 2018 net income was $1.0 million, or $0.06 per diluted share, compared to a GAAP net loss of $3.6 million, or $0.24 per diluted share, in the prior year period. On an adjusted basis, the fiscal 2018 second quarter net income was $2.5 million, or $0.16 per diluted share, as compared to adjusted net income of $2.3 million, or $0.15 per diluted share in the second quarter of fiscal 2017. (Adjusted net income and adjusted earnings per diluted share exclude certain items as outlined in Table 1 Reconciliation of net income (loss) and income (loss) per diluted share to adjusted net income and adjusted net income per diluted share.)

Balance Sheet and Cash Flows

The Company’s financial position continues to get stronger. Cash and investments at the end of the second quarter of fiscal 2018 totaled $53 million and the company’s net debt to total capitalization stood at 8.6% at the end of the second quarter of fiscal 2018 as compared to 17.3% at the end of the second quarter of fiscal 2017.  Working capital management continues to be a critical focus across the organization as inventory turned at approximately 4 times as of the end of the second quarter of fiscal 2018.  Cash flow from operations increased to $40 million for the first six months of fiscal 2018 compared to $36 million in the first six months of fiscal 2017.

George Feldenkreis, Executive Chairman, Perry Ellis International, commented, “We continue to successfully navigate the changing US retail environment, as demonstrated by our strong second quarter performance, and remain committed to accelerate our revenues by creating opportunities that strengthen the performance of our brands.  Our investment in talent, marketing and our digital platform is elevating our brands around the world.”

About Perry Ellis International

Perry Ellis International, Inc. is a leading designer, distributor and licensor of a broad line of high quality men’s and women’s apparel, accessories and fragrances. The Company’s collection of dress and casual shirts, golf sportswear, sweaters, dress pants, casual pants and shorts, jeans wear, active wear, dresses and men’s and women’s swimwear is available through all major levels of retail distribution. The Company, through its wholly owned subsidiaries, owns a portfolio of nationally and internationally recognized brands, including: Perry Ellis®, Original Penguin® by Munsingwear®, Laundry by Shelli Segal®, Rafaella®, Cubavera®, Ben Hogan®, Savane®, Grand Slam®, John Henry®, Manhattan®, Axist®, Jantzen® and Farah®.  The Company enhances its roster of brands by licensing trademarks from third parties, including: Nike® and Jag® for swimwear, and Callaway®, PGA TOUR®, and Jack Nicklaus® for golf apparel. Additional information on the Company is available at http://www.pery.com.

Safe Harbor Statement
We caution readers that the forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations rather than historical facts and they are indicated by words or phrases such as “anticipate,” “believe,” “budget,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “guidance,” “indicate,” “intend,” “may,” “might,” “plan,” “possibly,” “potential,” “predict,” “probably,” “proforma,” “project,” “seek,” “should,” “target,” or “will” or the negative thereof or other variations thereon and similar words or phrases or comparable terminology. Such forward-looking statements include, but are not limited to, statements regarding Perry Ellis’ strategic operating review, growth initiatives and internal operating improvements intended to drive revenues and enhance profitability, the implementation of Perry Ellis’ profitability improvement plan and Perry Ellis’ plans to exit underperforming, low growth brands and businesses. We have based such forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, many of which are beyond our control.  These factors include: general economic conditions, a significant decrease in business from or loss of any of our major customers or programs, anticipated and unanticipated trends and conditions in our industry, including the impact of recent or future retail and wholesale consolidation, recent and future economic conditions, including turmoil in the financial and credit markets, the effectiveness of our planned advertising, marketing and promotional campaigns, our ability to contain costs, disruptions in the supply chain, including, but not limited to those caused by port disruptions, disruptions due to weather patterns, our future capital needs and our ability to obtain financing, our ability to protect our trademarks, our ability to integrate acquired businesses, trademarks, trade names and licenses, our ability to predict consumer preferences and changes in fashion trends and consumer acceptance of both new designs and newly introduced products, the termination or non-renewal of any material license agreements to which we are a party, changes in the costs of raw materials, labor and advertising, our ability to carry out growth strategies including expansion in international and direct-to-consumer retail markets, the effectiveness of our plans, strategies, objectives, expectations and intentions which are subject to change at any time at our discretion, potential cyber risk and technology failures which could disrupt operations or result in a data breach, the level of consumer spending for apparel and other merchandise, our ability to compete, exposure to foreign currency risk and interest rate risk, the impact to our business resulting from the United Kingdom’s referendum vote to exit the European Union and the uncertainty surrounding the terms and conditions of such a withdrawal, as well as the related impact to global stock markets and currency exchange rates; possible disruption in commercial activities due to terrorist activity and armed conflict, actions of activist investors and the cost and disruption of responding to those actions, and other factors set forth in Perry Ellis’ filings with the Securities and Exchange Commission. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in Perry Ellis’ filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which are valid only as of the date they were made. We undertake no obligation to update or revise any forward-looking statements to reflect new information or the occurrence of unanticipated events or otherwise.

Contact:

Annette Ramos
Investor Relations
305-873-1488
Annette.ramos@pery.com

Source: Perry Ellis International, Inc./globenewswire

Posted on by

CBL & Associates Properties declares quarterly cash dividend of $0.265 per share on its common stock

CHATTANOOGA, Tenn., 2017-Aug-28 — /EPR Retail News/ — CBL & Associates Properties, Inc. (NYSE: CBL) today (8/24/2017) announced that its Board of Directors has declared a quarterly cash dividend for the Company’s Common Stock of $0.265 per share for the quarter ending September 30, 2017. The dividend is payable on October 16, 2017, to shareholders of record as of October 2, 2017.

The Board also declared a quarterly cash dividend of $0.4609375 per depositary share for the quarter ending September 30, 2017, for the Company’s 7.375% Series D Cumulative Redeemable Preferred Stock. The dividend, which equates to an annual dividend payment of $1.84375 per depositary share, is payable on October 2, 2017, to shareholders of record as of September 15, 2017.

The Board also declared a quarterly cash dividend of $0.4140625 per depositary share for the quarter ending September 30, 2017, for the Company’s 6.625% Series E Cumulative Redeemable Preferred Stock. The dividend, which equates to an annual dividend payment of $1.65625 per depositary share, is payable on October 2, 2017, to shareholders of record as of September 15, 2017.

About CBL & Associates Properties, Inc.

Headquartered in Chattanooga, TN, CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interests in or manages 121 properties, including 78 regional malls/open-air centers. The properties are located in 27 states and total 75.5 million square feet including 6.3 million square feet of non-owned shopping centers managed for third parties. Additional information can be found at cblproperties.com.

Information included herein contains “forward-looking statements” within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company’s various filings with the Securities and Exchange Commission, including without limitation the Company’s Annual Report on Form 10-K and the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included therein, for a discussion of such risks and uncertainties.

Contact:
Katie Reinsmidt
423-490-8301
EVP – Chief Investment Officer
katie.reinsmidt@cblproperties.com

Source: CBL & Associates Properties, Inc.

Posted on by

Dollar Tree Q2 2017 results: Consolidated Sales Increased 5.7% to $5.28 Billion

  • Enterprise Operating Margin Improved 80 Basis Points to 7.9% 
  • Diluted Earnings per Share Increased 36.1% to $0.98 vs. $0.72 
  • Enterprise Same-Store Sales Increased 2.4% 
  • Same-Store Sales by Segment: Dollar Tree +3.9%, Family Dollar +1.0%

CHESAPEAKE, Va., 2017-Aug-28 — /EPR Retail News/ — Dollar Tree, Inc. (NASDAQ: DLTR), North America’s leading operator of discount variety stores, today (August 24, 2017) reported results for its second fiscal quarter ended July 29, 2017.

“I am extremely pleased with the quarter,” stated Bob Sasser, Chief Executive Officer. “Both Dollar Tree and Family Dollar produced positive same-store sales, our enterprise operating margin improved 80 basis points and earnings per share exceeded the high end of our guidance range. Consumers continue to view Dollar Tree and Family Dollar as stores that provide great value and convenience.”

Second Quarter Results

Consolidated net sales increased 5.7% to $5.28 billion from $5.00 billion in the prior year’s second quarter. Enterprise same-store sales increased 2.4%. The same-store sales growth was driven by increases in comparable transaction count and average ticket. Same-store sales for the Dollar Tree banner increased 3.9%. Same-store sales for the Family Dollar banner increased 1.0%.

Gross profit increased 7.6% to $1.63 billion compared to $1.51 billion in the prior year’s second quarter. As a percent of sales, gross margin increased to 30.8% compared to 30.3% in the prior year. The 50 basis point improvement was driven primarily by lower merchandise and freight costs and lower markdowns in the current quarter, partially offset by higher distribution and occupancy costs.

Selling, general and administrative expenses were 22.9% of sales compared to 23.1% of sales in the prior year’s second quarter. The 20 basis point improvement, as a percent of sales, was driven primarily by lower depreciation costs, lower payroll costs and workers’ compensation expenses and lower utility costs as a percent of sales, partially offset by higher operating and corporate expenses resulting from increased advertising costs and legal fees.

During the quarter, the Company recorded $2.6 million, or $0.01 per diluted share, of impairment charges related to its receivable from Dollar Express, which acquired the stores that the FTC required the Company to divest. The impairment charges, from the first and second quarters of 2017, totaling $53.5 million, are recorded as “Receivable impairment” in the accompanying condensed consolidated income statements.

Operating income increased 17.4% to $419.5 million compared with $357.2 million in the same period last year and operating income margin increased to 7.9% of sales in the current quarter from 7.1% in last year’s quarter.

The Company’s effective tax rate for the quarter was 32.0% compared to 36.9% in the prior year period. The lower tax rate included a tax benefit of $9.9 million, or $0.04 per diluted share, related to a state reduction in corporate tax rate.

Net income compared to the prior year’s second quarter increased $63.6 million to $233.8 million and diluted earnings per share increased 36.1% to $0.98 compared to $0.72 in the prior year’s quarter.

During the quarter, the Company opened 133 stores, expanded or relocated 31 stores, and closed 34 stores. Retail selling square footage at quarter-end was approximately 114.5 million square feet.

First Six Months Results

Consolidated net sales increased 4.8% to $10.57 billion from $10.08 billion in the same period last year. Enterprise same-store sales increased 1.2%. The same-store sales growth was driven by increases in comparable transaction count and average ticket. Same-store sales for the Dollar Tree banner increased 2.9%. Same-store sales for the Family Dollar banner decreased 0.2%.

Gross profit increased 6.1% to $3.25 billion from $3.07 billion in the first six months of 2016. As a percent of sales, gross margin increased 40 basis points to 30.8% from 30.4% in the prior year period.

As a percent of sales, selling, general and administrative expenses increased to 23.2% from 22.7% in the same period last year. The increase is the result of the $53.5 million receivable impairment. Excluding the receivable impairment, selling, general and administrative expenses improved to 22.6% of sales.

Net income increased 7.8% to $434.3 million from $402.8 million in the first six months of 2016, and diluted earnings per share increased 7.6% to $1.83, compared to $1.70 in the prior year’s period. Excluding the $53.5 million receivable impairment, adjusted diluted earnings per share increased 15.9% to $1.97.

Company Outlook

The Company estimates consolidated net sales for the third quarter of 2017 to range from $5.20 billion to $5.29 billion, based on a low single-digit increase in same-store sales for the combined enterprise. Diluted earnings per share are estimated to be in the range of $0.83 to $0.90.

Consolidated net sales for full-year fiscal 2017 are now expected to range from $22.07 billion to $22.28 billion compared to the Company’s previously expected range of $21.95 billion to $22.25 billion. This estimate is based on a low single-digit increase in same-store sales and 3.9% square footage growth. The Company now anticipates net income per diluted share for full-year fiscal 2017 will range between $4.44 and $4.60, compared to its previous guidance of $4.17 to $4.43. This estimate includes $53.5 million, or $0.14 per diluted share, of receivable impairment charges incurred in the first half of 2017. Fiscal 2017 includes a 53rd week. The extra week, in the fourth quarter, is expected to add $400 million to $430 million to sales and $0.19 to $0.22 to diluted earnings per share, both of which are included in the guidance.

Sasser added, “I am incredibly proud of our people. Our merchants, store operators, supply chain and support teams have truly embraced this opportunity to improve and grow our combined business. As always, our focus is on the customer and how we can best meet their evolving needs. We have a proven business model, an experienced leadership team, momentum in our business and a transformational opportunity. We are confident that we are well-positioned for the back half of 2017 and look to deliver value to our long-term shareholders in the years ahead.”

Conference Call Information

On Thursday, August 24, 2017, the Company will host a conference call to discuss its earnings results at 9:00 a.m. Eastern Time. The telephone number for the call is 877-604-9665. A recorded version of the call will be available until midnight Wednesday, August 30, 2017 and may be accessed by dialing 888-203-1112. The access code is 2174184. A webcast of the call is accessible through Dollar Tree’s website and will remain online through Wednesday, August 30, 2017.

Dollar Tree, a Fortune 200 Company, operated 14,581 stores across 48 states and five Canadian provinces as of July 29, 2017. Stores operate under the brands of Dollar Tree, Family Dollar, and Dollar Tree Canada. To learn more about the Company, visit www.DollarTree.com.

A WARNING ABOUT FORWARD-LOOKING STATEMENTS:

Our press release contains “forward-looking statements” as that term is used in the Private Securities Litigation Reform Act of 1995. Forward-looking statements address future events, developments or results and typically use words such as believe, anticipate, expect, intend, plan, forecast, or estimate. For example, our forward-looking statements include statements regarding third quarter 2017 and full-year 2017 net sales and same-store sales, third quarter 2017 and full-year 2017 diluted earnings per share, square footage growth, the benefits, results, and effects of the merger with Family Dollar, including integration plans and synergies, the collection of the receivable from Dollar Express and the related litigation, and future financial and operating results and shareholder value, the combined company’s plans, objectives, expectations (financial and otherwise) and intentions. These statements are subject to risks and uncertainties, including that we may be unable to successfully recover any amount from Dollar Express or others. For a discussion of the risks, uncertainties and assumptions that could affect our future events, developments or results, you should carefully review the “Risk Factors,” “Business” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections in our Annual Report on Form 10-K filed March 28, 2017 and other filings with the Securities and Exchange Commission. We are not obligated to release publicly any revisions to any forward-looking statements contained in this press release to reflect events or circumstances occurring after the date of this report and you should not expect us to do so.

Contact:
Randy Guiler
757-321-5284
Vice President, Investor Relations
www.DollarTree.com

Source: Dollar Tree, Inc.

Posted on by

ENGLAND: The Co-op to relaunch two stores in Barrow in Furness and Dalton in Furness in September

Two stores in Barrow in Furness and Dalton in Furness set to unveil new look following £1.4 million refits

MANCHESTER, England, 2017-Aug-28 — /EPR Retail News/ — The Co-op’s investment in Cumbria is set to top £4.5 million as it prepares to relaunch two stores in Barrow on Furness and neighbouring Dalton in Furness during early September.

Roose Road’s Co-op will reopen its doors on 1 September following a £590,000 makeover, whilst Market Street’s Co-op will unveil its £832,000 new look on 8 September.

Both will have a focus on fresh, healthy foods, meal ideas and essentials.

The refits form part of a rigorous programme which saw Co-op stores Island Road, Barrow and Brampton unveil their new look in May, Denton Street, Carlisle in June and Egremont and Kirkby Stephen in July. They also follow the first birthday of the Co-op’s £600,000 Seascale store which opened last summer.

The stores will also bring a funding boost for local community groups through the Co-op’s new Membership scheme. Members receive a 5% reward on purchases of own-branded products and services, with a further 1% going directly to local causes to make a difference in the community.

Charities and groups set to benefit in the Roose Road area include The Birchall Trust and Project John Ltd, whilst those at Market Street include 1st Dalton St Mary’s Guides, Buccleuch Hall Management Committee and The Rotary Club of Furness Peninsula.

John McNeill, Co-op’s Divisional Managing Director, said:
“2017 is shaping up to be a terrific year for the Co-op in Cumbria. Having invested well over £4.5 million in revamping our stores, along with the roll out of our recent local sourcing programme, we want customers to know that we’re committed to delivering a consistently brilliant in-store experience. Consumer habits are changing and we know that shoppers simply want to buy what they want, when they want.

“What’s more, our membership message seems to be resonating with shoppers in Cumbria, where earlier this year we raised £133,000 for 57 good causes. We want people to know that by becoming a co-owner of their Co-op, they can also give back to the community. Just by swiping their membership card, they will make a difference to local life, raising much needed funds for causes on their doorstep.”
There are offers and promotions in and around the new stores to mark their launch.

And, students holding the NUS extra card will also receive a 10% discount off their groceries.

Further information about the benefits of Co-op membership and, its Local Community Fund, is available by visiting: http://www.coop.co.uk/membership/

Media Contact:

Aimi McNeill
Press and Media Manager
T:0161 6924286 M:07739 657585
aimi.mcneill@co-operative.coop
coop.co.uk

Source: coop.uk

Posted on by

ENGLAND: The Co-op opens new stores in Chelmsford, Walthamstow and Hornchurch; will create 50 jobs for local people

MANCHESTER, England, 2017-Aug-28 — /EPR Retail News/ — The Co-op is investing £2.2 million in the region by opening brand new stores in Chelmsford, Walthamstow and Hornchurch, which together will create 50 jobs for local people.

Chelmsford’s new store, situated on New Street, is set to open its doors on Thursday 31 August, whilst Walthamstow’s Co-op on Blackhorse Lane will launch on Thursday 7 September. Hornchurch’s Co-op on Station parade will be the last of the trio to launch on Thursday 14 September.

All will have a focus on fresh, healthy foods, meal ideas and everyday essentials. They will also deliver a funding boost for local community groups through the Co-op’s new membership scheme. Members receive a 5% reward on purchases of Co-op own-branded products and services, with a further 1% going to local causes to make a difference in the community.

Peter Batt, divisional managing director for the Co-op, said:
“We are delighted to have made such a significant investment in the Greater London and Essex area by opening three brand new stores. The Co-op is moving forward with a clear purpose and momentum and our ambition is to establish all of our stores as a local hub, a real asset for the community.

“The return to our ‘clover leaf’ design logo – first used in the 1960’s – aims to re-establish the Co-op as a centre for the community, and we want shoppers to know that they can become a co-owner and member of their Co-op. Our members have an opportunity to make a difference locally and by using their membership card when they shop with us they will raise much needed funding for organisations who contribute to improving local life.”

There are offers and promotions in and around the new and improved stores to mark their launch. And students in the region who hold an NUS card will receive a 10% discount off their groceries in the store.

Further information about the benefits of Co-op membership and, its Local Community Fund, are available by visiting: http://www.coop.co.uk/membership/

Media Contact:

Aimi McNeill
Press and Media Manager
T:0161 6924286
M:07739 657585
aimi.mcneill@co-operative.coop
coop.co.uk

Source: Coop.co.uk

Posted on by

PetSmart to announce Q2 2017 results on September 6, 2017

PHOENIX, AZ, 2017-Aug-28 — /EPR Retail News/ — PetSmart, Inc. (the “Company”) plans to make its second quarter fiscal 2017 results available on the Company’s secure website on Wednesday, September 6, 2017. The Company will also hold an investor conference call to review its results for the second quarter fiscal 2017 on Thursday, September 7, 2017. The results and call will be made available to lenders under the credit facilities, holders of the Company’s 7.125% Senior Unsecured Notes due 2023, the 5.875% Senior Secured Notes due 2025, the 8.875% Senior Unsecured Notes due 2025 (collectively the “notes”), bona fide prospective investors of the notes, bona fide securities analysts and bona fide market makers.

The lenders under the credit facilities will receive details on how to access the call from the administrative agents for the respective credit facilities.

Holders of the notes, prospective investors, securities analysts and market makers that have not previously registered with the Company must contact the Company to pre-register and certify eligibility in order to access the financial results and dial-in information for the conference call. To receive information on how to pre‐register, parties should send an email to investorrelations@petsmart.com. Requests for pre-registration must be received by Friday, September 1, 2017.

About PetSmart® 
PetSmart, Inc. is the largest specialty pet retailer of services and solutions for the lifetime needs of pets. At PetSmart, we love pets, and we believe pets make us better people. Every day with every connection, PetSmart’s passionate associates help bring pet parents closer to their pets so they, together, can live more fulfilled lives. This vision impacts everything we do for our customers, the way we support our associates and how we give back to our communities. We employ approximately 55,000 associates, operate more than 1,500 pet stores in the United States, Canada and Puerto Rico and over 200 in-store PetSmart® PetsHotel® dog and cat boarding facilities. PetSmart provides a broad range of competitively priced pet food and products, as well as pet-focused services such as dog training, pet grooming, pet boarding, PetSmart® Doggie Day Camp® and pet adoption. PetSmart, together with non-profits PetSmart Charities® and PetSmart Charities™ of Canada, invite more than 3,000 animal welfare organizations to bring adoptable pets into stores so they have the best chance possible of finding a forever home. Through this in-store adoption program and other signature events, PetSmart has facilitated more than 7.3 million adoptions – more than any other brick-and-mortar organization. The company’s portfolio of digital resources for pet parents includes PetSmart.com, Chewy.com, PetFoodDirect.com, Pet360.com, petMD.com, PawCulture.com, AllPaws, an online pet adoption platform that helps potential pet parents find the perfect pet to adopt based on their home, family and lifestyle, as well as BlogPaws, the world’s first pet blogger and influencer network. Through these digital platforms, PetSmart offers the most comprehensive online pet supplies and pet care information in the U.S. In celebration of its 30th anniversary, PetSmart launched its Buy a Bag, Give a Meal™ program in March 2017. For every bag of cat or dog food purchased March 1 – Dec. 31, 2017, PetSmart will donate a meal to pets in need and expects to donate more than 60 million meals. On May 31, 2017, PetSmart, Inc. completed the acquisition of Chewy, Inc., the nation’s leading online retailer for pet products.

Contact :

PetSmart Investor Relations
Kim Smith, Tom Melito
investorrelations@petsmart.com
623-587-2025

Source: PetSmart, Inc