Posted on June 6, 2021 by EPR Retail News

Best Portable Air Conditioner New Exclusive Discount in 2021

Tennessee, USA; May 7^th, 2021: Portable Air Conditioner (Worldwide)- In the present conditions of growing global warming and the cost of living to be very high, people are finding it too hard for maintaining a good life. The summers these days have become too hot and thus people are trying to find some kind of cooling for them. Since it is very hard for people to have a low costing and pleasant way of getting their room to be cool, people are finding it very hard for them to have some kind of less costly and portable option for cooling their house. These days portable ACs have become some kind of great influence in saving a lot of money and since they are portable they provide effective cooling and that too can be used everywhere.

Portable Air Conditioner (AC) turns out to be the best way that people can get a proper environment in the summers. This is a product that can be placed at one corner of the room and then just is turned on to get proper cooling and a chilled environment to be saved from the blasts of heat in the summers. This portable AC works in such a manner that provides filtered air to breathe in too. The gadget has a dedicated tank to store around 2 liters of water which the AC uses to cool down the air and thus throw it out. Portable Air Conditioner (AC) is a compact gadget which people can buy to get their room cooled easily and that too without the worries of a huge electricity bill.

(SPECIAL PROMO) Get Portable Air Conditioner at the Lowest Discounted Price Today

Portable Air Conditioner (AC) comes out to be very helpful for people these days. It is a portable product which can be used by just charging it for 4 hours and then turn it on and use for nearly 12 hrs continuously. But people do not have to use it for that long on a single run as it helps to cool down the complete room in nearly 30 minutes. Then the users can turn up the temperature or lower the airspeed to make sure that the room does not feel like an igloo. This AC works efficiently to cool the room, is very small, and helps in saving a lot of money that would have been wasted in installing a conventional AC. Portable Air Conditioner (AC) can be carried around too which makes it the best option for students or people who have to constantly move from one place to another.

Portable Air Conditioner (AC) has been made with the help of a smart technical team. The size of this gadget has been completely utilized. The method through which it provides such efficient cooling is great too. It has two vents in which one is used to sucking in the air from the room which is passed through a filter first for cleaning it and then the compressor in it cools down the air and the second vent throws this air out. The compressor used in this gadget is very efficient and it also has a fan fit in it which throws out the cool air. There also is dedicated water storage for the compressor to work and this storage can be cleaned easily by just taking it out. The storage needs to be filled with around 2 liters of water which is enough for the usage of around one week. It is rechargeable and gets completely charged in around 4 hrs. It also has a very big battery life which people can use for around a week with one full charge. Thus Portable Air Conditioner (AC) is completely efficient for usage. The best thing about this gadget is that the temperature, wind speed, and all can be customized with the help of a panel on the top and it also has some automatic modes for usage.

Get Portable Air Conditioner From Its Official Website While Supplies Last

Portable Air Conditioner (AC) is the kind of product that helps people who have to suffer from the trauma of unbearable heat in their offices or hotel rooms because of the lack of an AC. This product helps to make sure that the room gets completely cool and the environment is maintained for the next 5 to 6 hours. The pricing of this product is affordable too since it costs much less than a window cooler and is a way better product than that. The best feature about this product is that it has a powerful fan motor in it which makes the air to pass around the complete room and therefore get a proper cooling all around the room. Portable Air Conditioner (AC) is therefore a product that people can use to be free of the problems of unbearable heat during the summers.

Portable Air Conditioner (AC) is available for sale on its official website only. The sale with the online method is best for consumers since it cuts the commission funding by the middlemen. This way people get authentic products only and they can easily claim the warranty for the product too. The product comes with a warranty of one year over all kinds of defects in the product. Users can claim the warranty on the website or using the customer care number of the company. Portable Air Conditioner (AC) is, therefore, the best for people in all ways.

Media Contact
Company Name: Portable Air Conditioner
Contact Person: Media Relations
Email: info@breezemaxx.com
Phone: 3472312424
Country: United States

Posted on August 20, 2018 by EPR Retail News Editors

Hughes Candles announces grand opening and launch of unisex wood wick soy candles

Broken Arrow, OK, USA, 2018-Aug-20 — /EPR Retail News/ — Hughes Candles, an Oklahoma artisan home fragrance manufacturer announces their grand opening and launch of their original collection of unisex wood wick soy candles.

“We feel like this launch has been a tremendous success, customers are providing raving reviews, and we have already established two new retail partnerships–one in Tulsa, OK and one in Claremore, OK soon to be announced. We couldn’t be happier with our progress and we are looking forward to establishing additional retail partnerships across the state of Oklahoma, and surrounding states,” said, Jason Oelrich II, President.

About Hughes Candles

Hughes Candles are an artisan, hand poured, small batch, all-natural, unisex, wood wick, soy candles infused with beautifully complex and sophisticated fragrances, that showcase stunning burn pools when lit, making the candles essentially maintenance free and a healthier option than traditional candle alternatives.

Hughes Candles Classic Wood Wick Soy Candle Collection

Alcott No. 23- Fragrance: Nostalgic, romantic, exotic, smooth and spicy
Steinbeck No. 28- Fragrance: Smoky, woody, spicy
Thoreau No. 27- Fragrance: Fresh and woody
Whitman No. 26- Fragrance: Crisp, woody, evergreen
Emerson No. 29- Fragrance: Fresh and invigorating
Longfellow No. 24-Fragrance: Clean, cool, spicy.

Proudly handmade in Broken Arrow, Oklahoma, USA

To learn more about Hughes Candles and see our entire classic collection of wood wick soy candles visit: https://hughescandles.com

To explore a wholesale relationship with Hughes Candles, visit: https://hughescandles.com/pages/contact

SOURCE: EPR Network

Posted on March 7, 2018 by Retail News Editor

Nordstrom introduces Anthropologie Home collection in stores and online

: Nordstrom introduces Anthropologie Home collection in stores and online

Anthropologie Home collection to be available in 15 Nordstrom stores and on Nordstrom.com, beginning March 19

SEATTLE, 2018-Mar-07 — /EPR Retail News/ — Nordstrom (NYSE: JWN) announced today (March 5, 2018) a partnership with Anthropologie (Nasdaq: URBN) to introduce more than 200 items from Anthropologie Home at select Nordstrom full-line stores and on Nordstrom.com, beginning March 19th. The Anthropologie Home collection will encompass categories including kitchen, dining and entertaining, bed and bath textiles, room décor, stationery and hardware.

“We are thrilled to be launching the best of Anthropologie Home into 15 Nordstrom stores and on Nordstrom.com. Home is a category we continue to evolve and being Anthropologie’s partner will allow us to introduce dynamic home product with a regular cadence,” said Gemma Lionello, executive vice president and general merchandise manager, Nordstrom. “We look forward to providing our customers with another way to shop one of their favorite home brands.”

Anthropologie Home at Nordstrom represents a mix of classic and iconic pieces, new seasonal designs and exclusive artist collaborations. Work from 20 artists, discovered around the world, is reflected in the wide range of techniques, mediums and styles in the collection. They include Massachusetts-based ceramicist Molly Hatch’s whimsical creations, painter and UK native Sally Muir’s dog portraiture, Los Angeles studio All Roads Design’s artisanal textiles and North Carolina’s Suite One Studio’s watercolor inspired designs.

“Anthropologie Home has evolved significantly over the past several years, becoming a sought-after design resource for every room of the home. We are thrilled to take this important next step with Nordstrom as our partner in the United States,” said Andrew Carnie, president of Anthropologie home, garden and Europe. “We look forward to sharing our unique voice in home with their customers in a meaningful and engaging way.”

Nordstrom store locations that will feature Anthropologie Home include:

Arden Fair (Sacramento, Calif.)	NorthPark Center (Dallas, Texas)
Bellevue Square (Bellevue, Wash.)	Park Meadows (Lone Tree, Colo.)
Brea Mall (Brea, Calif.)	Perimeter Mall (Atlanta, Ga.)
Downtown Seattle (Seattle, Wash.)	Scottsdale Fashion Square (Scottsdale, Ariz.)
Fashion Valley (San Diego, Calif.)	The Fashion Centre at Pentagon City (Arlington, Va.)
Garden State Plaza (Paramus, N.J.)
Mall of America (Bloomington, Minn.)	The Galleria at Tyler (Riverside, Calif.)
Michigan Avenue (Chicago, Ill.)	The Mall at Short Hills (Short Hills, N.J.)

ABOUT NORDSTROM:

Nordstrom, Inc. is a leading fashion retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 366 stores in 40 states, including 122 full-line stores in the United States, Canada and Puerto Rico; 232 Nordstrom Rack stores; two Jeffrey boutiques; two clearance stores; seven Trunk Club clubhouses; and its Nordstrom Local service concept. Additionally, customers are served online through Nordstrom.com, Nordstromrack.com, HauteLook and TrunkClub.com. Nordstrom, Inc.’scommon stock is publicly traded on the NYSE under the symbol JWN.

ABOUT ANTHROPOLOGIE:

Founded in 1992, Anthropologie is an omnichannel lifestyle brand that celebrates fashion, art, culture, design and discovery. Led by David W. McCreight, President of Urban Outfitters, Inc. (URBN) and CEO of the Anthropologie Group, Anthropologie currently maintains 226 stores in the U.S., Canada and Europe, as well as a popular catalog and website. The company is part of URBN’s portfolio of global consumer brands comprised of Urban Outfitters, Anthropologie, Free People, BHLDN, Terrain and the Vetri Family.

Media Contacts:
Nordstrom
Meliz Andiroglu
Meliz.Andiroglu@nordstrom.com
206.303.1255

Anthropologie
Sara Goodstein
Sgoodstein@anthropologie.com
646.728.2155

SOURCE: Nordstrom, Inc.

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Posted on March 6, 2018 by Retail News Editor

JCPenney announces leadership appointments

Company initiates personnel actions to streamline job functions and reduce expenses

PLANO, Texas, 2018-Mar-06 — /EPR Retail News/ — J. C. Penney Company, Inc. (NYSE: JCP) today (March 2, 2018) announced the appointment of Joe McFarland as executive vice president and chief customer officer, a newly-expanded role that includes responsibility for merchandising, as well as leading all JCPenney store operations. To ensure the positive momentum of its merchandising transformation, Jodie Johnson has been promoted to head of merchandising for women’s, beauty and family footwear; and James Starke has been promoted to head of merchandising for men’s, children’s, home and jewelry, both reporting to McFarland. Additionally, Therace Risch, will assume the combined titles of Chief Information Officer and Chief Digital Officer to reflect her added responsibility for omnichannel retail. As a result of this appointment, Mike Amend will be leaving the Company.

“Joe, Therace, Jodie and James are remarkable executive leaders who have demonstrated their ability to spearhead critical tasks and drive results and efficiencies along the way. Joe is a dedicated advocate for our associates, and knows first-hand how successful we can be when associates are empowered to deliver the best shopping experience possible. Jodie and James are credited for leading the turnaround of our merchandising strategy, and will continue to advance this effort by delivering the best assortment of style and value offered by any retailer. Appointing both Jodie and James to lead our merchant teams will ensure that we push merchandising decisions closer to the division heads and buyers for increased speed and efficiency. Furthermore, Therace understands the power of technology, and how it can significantly influence and enhance the way consumers shop and ultimately, be the point of differentiation on where they choose to buy,” said Marvin R. Ellison, chairman and chief executive officer for JCPenney. “By merging these critical retail functions under the oversight of four proven leaders, we can better align our operations to ensure every aspect of the business is focused on the customer experience.”

Home Office and Field Actions
As part of ongoing efforts to manage expenses, simplify operations and streamline workload in support of the Company’s long-term growth and profitability, approximately 130 Home Office positions were eliminated across various departments. Additionally, JCPenney recently restructured its group, regional, district and store support teams. This restructure eliminated bureaucracy, reduced support positions and reallocated store headcount to customer-facing positions. While the restructuring enabled the vast majority of impacted associates to assume a new role or leadership position within the stores organization, approximately 230 positions were subsequently eliminated. The annual cost savings generated from the home office and store reorganization are estimated at approximately $20-$25 million.

“As the Company continues to make progress on its strategic framework and implement new processes and organizational efficiencies, it is imperative that we maintain a thoughtful approach to managing expenses, while effectively supporting the needs of the business,” added Ellison. “I would like to thank Mike Amend for his service with the Company and wish him well in his future endeavors. Through his hard work, JCPenney has advanced its omnichannel capabilities, laying the groundwork for further innovation and growth.”

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, combines an expansive footprint of approximately 875 stores across the United States and Puerto Rico with a powerful e-commerce site, jcp.com, to connect with shoppers how, when and where they prefer to shop. At every customer touchpoint, she will get her Penney’s worth of a broad assortment of products from an extensive portfolio of private, exclusive and national brands. Powering this shopping experience is the customer service and warrior spirit of approximately 100,000 associates across the globe, all driving toward the Company’s three strategic priorities of strengthening private brands, becoming a world-class omnichannel retailer and increasing revenue per customer. For additional information, please visit jcp.com.

Forward-Looking Statements
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expect” and similar expressions identify forward-looking statements, which include, but are not limited to, statements regarding sales, cost of goods sold, selling, general and administrative expenses, earnings, cash flows and interest expense. Forward-looking statements are based only on the Company’s current assumptions and views of future events and financial performance. They are subject to known and unknown risks and uncertainties, many of which are outside of the Company’s control that may cause the Company’s actual results to be materially different from planned or expected results. Those risks and uncertainties include, but are not limited to, general economic conditions, including inflation, recession, unemployment levels, consumer confidence and spending patterns, credit availability and debt levels, changes in store traffic trends, the cost of goods, more stringent or costly payment terms and/or the decision by a significant number of vendors not to sell us merchandise on a timely basis or at all, trade restrictions, the ability to monetize assets on acceptable terms, the ability to implement our strategic plan including our omnichannel initiatives, customer acceptance of our strategies, our ability to attract, motivate and retain key executives and other associates, the impact of cost reduction initiatives, our ability to generate or maintain liquidity, implementation of new systems and platforms, changes in tariff, freight and shipping rates, changes in the cost of fuel and other energy and transportation costs, disruptions and congestion at ports through which we import goods, increases in wage and benefit costs, competition and retail industry consolidations, interest rate fluctuations, dollar and other currency valuations, the impact of weather conditions, risks associated with war, an act of terrorism or pandemic, the ability of the federal government to fund and conduct its operations, a systems failure and/or security breach that results in the theft, transfer or unauthorized disclosure of customer, employee or Company information, legal and regulatory proceedings and the Company’s ability to access the debt or equity markets on favorable terms or at all. There can be no assurances that the Company will achieve expected results, and actual results may be materially less than expectations. Please refer to the Company’s most recent Form 10-Q for a further discussion of risks and uncertainties. Investors should take such risks into account and should not rely on forward-looking statements when making investment decisions. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We do not undertake to update these forward-looking statements as of any future date.

Media Relations:
(972) 431-3400
jcpnews@jcp.com
follow us at @jcpnews on Twitter.

Investor Relations:
(972) 431-5500
jcpinvestorrelations@jcpenney.com

Source: J. C. Penney Company, Inc.

Posted on February 28, 2018 by EPR Retail News Editors

The Home Depot® SVP – Finance Control & Administration Richard McPhail to present at the Raymond James 39th Annual Institutional Investors Conference

ATLANTA, 2018-Feb-28 — /EPR Retail News/ — The Home Depot^®, the world’s largest home improvement retailer, today announced that Richard McPhail, senior vice president – Finance Control & Administration, will present at the Raymond James 39th Annual Institutional Investors Conference in Orlando, Florida. The presentation will begin at 9:15 a.m. ET on March 6, 2018.

The presentation will be webcast live over the internet at http://ir.homedepot.com/events-and-presentations. A link will be displayed under “Events and Presentations.” The webcast will be archived and available at the same location after the conclusion of the live event and will be available until April 5, 2018.

The Home Depot is the world’s largest home improvement specialty retailer, with 2,284 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. In fiscal 2017, The Home Depot had sales of $100.9 billion and earnings of $8.6 billion. The Company employs more than 400,000 associates. The Home Depot’s stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor’s 500 index.

SOURCE: The Home Depot

Media Inquiries

Click here or call:

770-384-4646 (U.S.)
416-386-5847 (Canada)
(81) 81-55-68-69 (Mexico)

Posted on February 27, 2018 by EPR Retail News Editors

Lowe’s launches Track to the Trades program to provide career alternatives and financial support for employees to pursue a skilled trade

Lowe’s launches Track to the Trades program to provide career alternatives and financial support for employees to pursue a skilled trade

MOORESVILLE, N.C., 2018-Feb-27 — /EPR Retail News/ — Today (February 22, 2018), Lowe’s Companies, Inc. (NYSE: LOW) announced Track to the Trades, a new workforce development initiative that aims to provide innovative career alternatives and financial support for employees to pursue a skilled trade. The program will be supported in partnership with Guild Education, an adult education company. The initiative comes at a time when the skilled trade industry is experiencing a rapidly declining workforce.

According to the Home Improvement Research Institute, more than 60 percent of skilled trade professionals agree that there is a shortage of labor in the construction industry. The same study reports ongoing hiring challenges for professional contractors, with 40 percent of pros looking to expand their job site workforce.

To begin addressing this critical trade skills gap while also providing employees with a variety of career paths and economic opportunity, Lowe’s is offering employees:

Upfront tuition funding for trade skill certification
Academic coaching and support
Placement opportunities for full-time pre-apprenticeships in Lowe’s nationwide contractor network or continued growth with Lowe’s

Beginning March 1, Lowe’s will debut Track to the Trades in four cities: Charlotte, Denver, Pittsburgh and Richmond. Following the four-city pilot, the program will be expanded to qualified Lowe’s part-time and full-time employee nationwide by the end of 2018.

Eligible employees will receive up to $2,500 to gain a certification and serve as a pre-apprentice in carpentry, HVAC, electrical, plumbing or appliance repair careers. Pre-apprenticeships take approximately six to 10 months, and participants will also receive enrollment guidance and a field mentor.

“The trade profession is a high-demand, high-opportunity field for the next generation workforce, and today, there is a massive unmet need,” said Jennifer L. Weber, Lowe’s chief human resources officer. “With Track to the Trades, we are providing unique career alternatives for our associates while also building a pipeline for the next generation ofLowe’s,Track to the Trades ,skilled trade, Guild Education CEO, Rachel Carlson, Home Improvement Research Institute, Jennifer L. Weber, skilled trade workers, allowing us to better meet the demands of customers while creating long-term educational benefits and economic opportunity for our people.”

The U.S. Bureau of Labor Statistics (BLS) reports that the nation’s need for workers in the skilled trades is increasing much faster than the growth of employment overall, according to a recent forecast. In fact, Lowe’s analysis of BLS data projects we will experience a skilled trades gap of more than a half million jobs across construction-related fields by 2026. Lowe’s Track to the Trades program is a first step toward rebuilding the skilled trades workforce and infusing pride back into trade professions that are vital to society.

“Lowe’s is leading the way on pre-apprenticeship models that prepare employees for jobs of the future, both while working at Lowe’s and beyond in their careers,” said Guild Education CEO, Rachel Carlson. “The education pathways offered by Lowe’s eliminate the all-to-common false choice between trades programs and advancement in higher education. At Guild, we’re honored to be working with the Lowe’s team on this first-of-a-kind partnership.”

About Lowe’s
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE^® 50 home improvement company serving more than 17 million customers a week in the United States, Canada and Mexico. With fiscal year 2016 sales of $65.0 billion, Lowe’s and its related businesses operate or service more than 2,370 home improvement and hardware stores and employ over 290,000 people. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

About Guild Education
Guild Education is transforming the way employers offer Education as a Benefit to their employees. Guild Education’s platform makes offering education benefits an easy choice for leading companies, with a platform to help innovative HR leaders turn their education programs into a long-term positive ROI for their company. The company’s diverse network of online, nonprofit universities offer a range of programs from GEDs and apprenticeship programs through bachelor’s and master’s degrees, along with advising and retention coaching to help each student navigate the worlds of work and post-secondary education. As of today, Guild Education has raised a total of $31.5 million in funding from Bessemer Ventures, Redpoint Ventures, Harrison Metal, and Cowboy Ventures. To learn more about Guild Education, visit www.GuildEducation.com.

SOURCE: Lowe’s Companies, Inc.

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

Posted on February 22, 2018 by Retail News Editor

Lowe’s Companies, Inc. to host Q4 2017 earnings conference call on Wednesday, February 28, 2018

MOORESVILLE, N.C., 2018-Feb-22 — /EPR Retail News/ — In conjunction with the Lowe’s Companies, Inc. (NYSE: LOW) fourth quarter 2017 earnings press release, you are invited to listen to its conference call to be broadcast live over the internet on Wednesday, February 28, 2018 at 9:00 a.m. Eastern Time with: Robert A. Niblock, chairman, president and chief executive officer; Richard D. Maltsbarger, chief operating officer; and Marshall A. Croom, chief financial officer. Supplemental slides will be available fifteen minutes prior to the start of the conference call.

What: Fourth Quarter 2017 Earnings Conference Call Webcast

When: 9:00 a.m. Eastern Time on Wednesday, February 28, 2018

Where: Visit Lowe’s Investor Relations website at http://www.Lowes.com/investor

Click on Webcasts and then on Lowe’s Fourth Quarter 2017 Earnings Conference Call

How: Listen live online and view the supplemental slides by following the directions above

A webcast replay of the call can be accessed from 12:00 p.m. ET on February 28, 2018 through May 22, 2018 by visiting http://www.Lowes.com/investor and clicking on Webcasts and then on Lowe’s Fourth Quarter 2017 Earnings Conference Call.

Media Inquiries:

704-758-2917
PublicRelations@Lowes.com

SOURCE: Lowe’s Companies, Inc.

Posted on February 21, 2018 by Retail News Editor

George at Asda launches a brand new collection of unicorn inspired products for older audiences

: George at Asda launches a brand new collection of unicorn inspired products for older audiences

George at Asda have launched a brand new unicorn range after seeing rise in demand from older audiences
The George website saw 79,000 unicorn searches in December 2017 with another 12,700 searches in the first week of January 2018

LEEDS, UK, 2018-Feb-21 — /EPR Retail News/ — After seeing huge demand from older audiences and nearly 80,000 searches for the mythical creature in December, George at Asda has launched a brand new collection of unicorn inspired products, geared towards nostalgic adults.

Whilst the unicorn is still very much the focal point, stars, clouds and rainbows in addition to metallic and iridescent finishes expand the theme for this collection, making the range incredibly Instagram-worthy.

The range features everything from dinnerware, cushions, crockery and glassware, bathroom accessories and even ornaments. With an air of whimsical chic, the range is perfect for the trend orientated Millennials whose demand inspired the range.

The collection falls under ‘Cosmic Retro’, one of the six core trends for 2018 as highlighted by George Homeware Designer and Interiors Guru, Natalie Ratcliffe.

Natalie said: “This is the third unicorn range for George and we fully expect this one to be as successful, if not more so, than the previous.

“The difference in this range is that we’ve responded to the overwhelming demand for a more ‘grown-up’ selection of products, and given the customers exactly what they want – the unicorn has officially graduated, in terms of style, for 2018.

“We knew nostalgia would be a key player this year as part of Cosmic Retro but the unicorn as a standalone micro trend is still going from strength to strength, so for all those unicorn fans out there, you’ve got a lot to look forward to.”

Cosmic Retro Trend

Cosmic Retro is the unicorn of 2018 with its juxtaposition of space age and retro, think disco balls, iridescent metals, astrology and sequins, this trend provides new nostalgia. With space tourism something we could see in this lifetime and advances in tech, our interest in space, the galaxy and the stars has been renewed and this trend fully embodies a dreamlike wonderment.

The colour scheme is taken straight from the skies with black, the entire spectrum of purple and silver being the palette for the entire trend. Coloured marble, crystals, iridescent acrylic and high shine metallic metals are prominent whilst prints are inspired by horoscopes, the constellations and astronauts.

For 90s kids, it’s a revival of their childhood, for Generation Z it’s the newest in a line of social media friendly interiors, sure to be a hit on Instagram.

The new range is on-sale at Asda stores and online at www.george.com

Source: ASDA

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Posted on February 19, 2018 by EPR Retail News Editors

The Home Depot® launches new tool that allows job applicants to self-schedule interviews as it seeks to fill more than 80,000 positions

ATLANTA, 2018-Feb-19 — /EPR Retail News/ — The Home Depot® has launched a new tool that allows job applicants to self-schedule in-person interviews as the company works to fill more than 80,000 positions for its busy spring selling season.

Using the tool, which is available 24/7 on any device, candidates who have completed an application for an open job in a Home Depot store or distribution center can easily choose the most convenient interview appointment available. About 80 percent of The Home Depot’s candidates have taken advantage of the tool since the pilot began this past November.

“Just as we’re continuously evolving to meet the changing expectations of our customers, we’re harnessing new technologies to do the same for job seekers,” said Tim Hourigan, EVP – Human Resources. “This consumer-like experience helps us hire the best talent to serve our customers.”

Candidate Self-Service is the latest in a series of enhancements The Home Depot has made to its application process. Last spring, the company saw a 50 percent increase in candidates after rolling out its 15-minute application, Mobile Apply and Text-to-Apply capabilities.

The Home Depot is also enhancing its onboarding experience this spring with the introduction of PocketGuide for associate training, a mobile application that leverages gamification to help associates learn while they’re in the aisles. PocketGuide delivers product knowledge and learning activities to the palm of an associate’s hand, significantly reducing backroom training. The application is rolling out to all garden associates for this spring season and will expand to more store departments throughout 2018.

Job seekers can visit careers.homedepot.com/retailjobs for a list of seasonal and permanent opportunities in their area. The time associates accrue during their seasonal assignments generally applies to eligibility for benefits like profit-sharing bonuses and vacation if they transition to a permanent role with The Home Depot.

The Home Depot is the world’s largest home improvement specialty retailer, with 2,284 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. In fiscal 2016, The Home Depot had sales of $94.6 billion and earnings of $8.0 billion. The Company employs more than 400,000 associates. The Home Depot’s stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor’s 500 index.

SOURCE The Home Depot

Posted on February 15, 2018 by EPR Retail News Editors

Lowe’s to fill more than 53,000 jobs on its first National Hiring Day, Feb. 21

Anyone interested in a full-time, part-time or seasonal role can visit any of Lowes 1,700-plus U.S. stores on Feb. 21 from 10 a.m. to 7 p.m. to participate in open interviews during the companys first National Hiring Day. (PRNewsfoto/Lowe’s Companies, Inc.)

MOORESVILLE, N.C., 2018-Feb-15 — /EPR Retail News/ — Lowe’s is looking for people with customer service experience who have a passion for helping people love where they live. With a goal of filling more than 53,000 jobs, Lowe’s stores nationwide will open their doors to candidates from 10 a.m. to 7 p.m. on Feb. 21 during the company’s first National Hiring Day.

Candidates interested in a full-time, part-time or seasonal role can visit any of Lowe’s 1,700-plus U.S. stores to participate in open interviews and learn more about working at Lowe’s. The event is an opportunity to meet hiring managers, speak with associates and enjoy behind-the-scenes tours in an open house atmosphere.

“Our employees are the heart of our business and make a difference for the customers and communities we serve every day,” said Jennifer Weber, Lowe’s chief human resources officer. “Lowe’s is a great place to build a career, and we’re excited to host our largest-ever job fair to introduce people to our culture. We’re looking to hire customer-centric and service-minded people who are passionate about being a part of something bigger.”

Those who can’t make it to the open house can tune in to a Facebook Live event on the Lowe’s Careers channel at 2:15 p.m. EST on Feb. 21 to hear more from Weber about building a career at Lowe’s.

Recently named one of the top 10 most customer-engaged companies by Forbes, Lowe’s is hiring employees to serve customers and communities during the busy spring and summer seasons. Seasonal employees typically support stores between March and September. Available roles include cashiers, lawn and garden associates, loaders, stockers and assemblers of outdoor products. Lowe’s seasonal employees benefit from competitive pay, a 10 percent employee discount and flexible hours, including the opportunity to see their schedule 17 days in advance and swap shifts with others as needed.

Lowe’s employs nearly 250,000 people across its U.S. stores and provides career advancement opportunities at all levels. Last year, nearly 40 percent of Lowe’s seasonal employees transitioned into permanent part-time and full-time positions. Nearly 200 current store managers started as seasonal employees.

Jordan McGee was 19 when she took a seasonal job as a cashier in Gastonia, N.C. Just four years later, she was promoted to assistant store manager of sales in Clover, S.C.

“Lowe’s has supported me through my career journey by helping me develop into a stronger leader. When I started, I was only 19, with no management experience, so I’ve always had a mentor or someone helping me, just giving me that encouragement in my ear,” McGee said. “If there’s one word that describes Lowe’s, I would say ‘career,’ just because you can come in and be whoever you want to be. You have the potential to move all the way up through the ranks, and they’ll support you through that.”

Lowe’s also will hold open interviews and make conditional job offers on the spot for part-time and full-time positions, including service and support managers, cashiers, stockers and sales specialists. Eligible part-time and full-time employees can take advantage of Lowe’s health and wellness benefits, incentive programs, 401(k), a discounted stock purchase plan, tuition reimbursement and flexible work schedules.

Earlier this month, Lowe’s announced plans to enhance its benefits, including expanded maternity and parental leave as well as adoption assistance. Eligible full-time hourly and salaried U.S. employees will qualify to receive:

Ten weeks of paid maternity leave and two weeks of paid parental leave.
An adoption assistance benefit to cover up to $5,000 of expenses related to agency, legal and other fees.
Eligibility to enroll in health benefits sooner, as early as the first of the month following 30 days of service.

To learn more about available jobs in your area, Lowe’s benefits or to apply online, visit Lowes.com/SpringHire. Applying takes just 20 minutes on average. To learn more about career opportunities, and to hear directly from employees who transitioned from seasonal roles into store management positions, visit Lowe’s newsroom.

SOURCE Lowe’s Companies, Inc.

Media Inquiries

704-758-2917
PublicRelations@Lowes.com

Posted on February 7, 2018 by EPR Retail News Editors

The largest showroom for whirlpool baths in Spain opens in Teulada Poligono

TEULADA, Spain, 2018-Feb-07 — /EPR Retail News/ — With a wide range of different models from renowned manufacturers, Whirlpools World Spain gives visitors a comprehensive overview. Conveniently situated at the N 332 (exit Teulada), their new showroom in Teulada Poligono will celebrate its grand reopening on Saturday, 10th February. With a total exhibition area of approximately 3000 square meters, it is the largest showroom for whirlpool baths in the whole country and almost twice as big as the former location of Whirlpools World Spain just a few kilometers away in Moraira.

„Moving from the coastal road to the national road we can offer our customers an even bigger selection and demonstrate, what the different whirlpool bath models can do for them. This includes the possibility to thoroughly test and try out the whirlpool bath of your dreams“, the wellness experts from Whirlpool World Spain point out. As everybody has a different idea of what wellbeing actually is about, the customers‘ demands are as diverse as the different whirlpool bath models. Besides the classic hydrojet massage, for example, additional features like illuminated water fountains, light- or aromatherapy can have positive effects on body and mind.

To ensure that the new whirlpool bath owners can concentrate on pampering themselves and have nothing else to worry about, the experts from Whirlpools World Spain also take care of installation, shipment, connection and maintenance. Customer care includes servicing devices and components from third-party manufacturers as well.

SOURCE: EuropaWire

Posted on February 6, 2018 by Retail News Editor

Lowe’s Canada opens its 63rd Lowe’s store in Canada

Lowe’s Canada celebrates the opening of the 63rd Lowe’s store in Canada

Boucherville, QC, 2018-Feb-06 — /EPR Retail News/ — Lowe’s Canada opened today (February 1, 2018) its 63rd store under the Lowe’s banner in Canada. Located at 955 St. Albert Trail in St. Albert, Alberta, this new store marks the sixth Lowe’s location in the Greater Edmonton Area. It represents a local investment in excess of $18 million and created 137 new permanent jobs with an additional 30 to 50 seasonal roles.

“We have seen a great response from customers in the Greater Edmonton Area and we are thrilled to open this new Lowe’s location in St. Albert today,” said Guy Beaumier, Executive Vice-President, Lowe’s Big Box Retail. “Lowe’s unique customer experience and extensive product selection are what set us apart and we want to keep growing our network in 2018 to bring our offering to even more DIYers and contractor customers throughout the country.”

The St. Albert Lowe’s store features a retail offering space totaling more than 107,000 square feet, including 86,800 square feet of retail sales space and an adjacent Garden Centre of 21,100 square feet. To meet customers’ every home improvement needs, the store offers 40,000 products in-stock with thousands more available through special order and on Lowes.ca.

A Unique Customer Experience

The new St. Albert Lowe’s will offer a unique and exciting retail experience, including:

An extensive assortment of top-of-the line appliances, including LG, Samsung, Bosch, Kitchen Aid, Frigidaire, Whirlpool and GE.
A year-round selection of BBQ’s including top brands such as Weber, Broil King, Char Broil and Master Forge.
A wide assortment of seasonal products for patio, holidays, Halloween, etc. (i.e. the latest fashion trends in patio, great selection of outdoor heating, etc.)
A variety of snow blowers, and other outdoor power equipment items in brands such as John Deere, Cub Cadet, Husqavarna, and Lowe’s exclusive Kobalt brand.
A broad selection of fashion plumbing i.e. tubs, showers, toilets, vanities, sinks and faucets with high profile brands such as Kohler and Grohe.
An extensive assortment of stylish home and outdoor décor, and home organization products for the house and garage.
A wide range of building materials, power and hand tools to meet the needs of DIYers and contractors alike.
Access to more than 100,000 products on www.lowes.ca.

Today, local dignitaries and Lowe’s executives joined employees from the store to celebrate the grand opening with an official board cutting ceremony and community grant presentation. Lowe’s Canada donated $5,000 to the St. Albert Community Information and Volunteer Centre to help them promote volunteering opportunities with local youth.

Grand Opening Events

Grand opening activities for the new store, where customers can enjoy free sessions, giveaways and contests, will continue until Monday. These include:

Children’s Workshop for families on Saturday, Saturday, February 3 at 10 a.m.
Interactive autograph signing and Q&A session with HGTV’s Bryan Baeumler on Saturday, February 3, from 10 a.m. to 12 p.m.
Giveaways including: Sprite shower filter (first 75 customers, Thursday only); Sylvania A19 LED 60-watt light bulb (first 1,000 customers, Friday only); $25 Lowe’s gift card (first 200 customers, Saturday only) and a Bosch 32-pce Tough bit set (first 200 customers, Sunday only).
Customers can also enter to win 1 of 4 prizes.
Contractor exclusive VIP event on Monday, February 5 from 12 to 2 p.m. There will be a draw to win 1 of 3 $250 Lowe’s gift cards and contractors can fill out a ballot to win 1 of 4 tool prizes. To register, contractors can call the store at 780.544.5830 and ask to speak with the Contractor Specialist to request an invite.

About Lowe’s Canada

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 17 million customers a week in the United States, Canada and Mexico. With fiscal year 2016 sales of $65.0 billion, Lowe’s and its related businesses operate or service more than 2,370 home improvement and hardware stores and employ over 290,000 people. Based in Boucherville, Quebec, Lowe’s Canadian business, together with its wholly owned subsidiary, RONA inc., operates or services more than 600 corporate and independent affiliate dealer stores in a number of complementary formats under different banners. These include Lowe’s, RONA, Réno-Dépôt, Marcil, Dick’s Lumber and Ace. In Canada, the companies have more than 25,000 employees, in addition to nearly 5,000 employees in the stores of RONA’s independent affiliate dealers. For more information, visit Lowes.ca.

For more information, please contact:

Valérie Gonzalo
Media Relations
Lowe’s Canada – RONA
Tel 514.626.6976
media@rona.ca

Source: Lowe’s Companies, Inc.

Posted on February 1, 2018 by Retail News Editor

Overstock.com launches a digitally-driven investment platform (robo-advising)

Unbiased artificial intelligence drives financial advising

SALT LAKE CITY, 2018-Feb-01 — /EPR Retail News/ — Overstock.com, Inc. (NASDAQ:OSTK) announces the launch of a digitally-driven investment platform (otherwise known as robo-advising), presented by tZERO Advisors. The service is accessible to investors through the online retailer’s FinanceHub™.

For a monthly fee of $9.95, investors can either select from a group of pre-established Adaptive Dynamic Portfolios matched to their investment profiles, or create a customized blend of these portfolios.

“This service introduces robo-advising investment management services to our millions of customers and continues Overstock’s commitment to bridging Wall Street and e-commerce,” said Patrick M. Byrne, Overstock’s founder and CEO.

tZERO Advisors is powered by FusionIQ’s B2C investment platform. FusionIQ is an innovative fintech company that provides intelligent investment solutions that enable easy online investing. The platform will also use FusionIQ’s proprietary algorithms and scoring system to develop and rebalance the Adaptive Dynamic Portfolios based upon dynamic market factors.

“Overstock currently delivers world-class service and award-winning customer experiences to as many as 40 million unique visitors per month. They trust us with their home and, more recently, auto purchases,” continued Byrne. “We are excited about this new program that offers our customers the opportunity to bring artificial intelligence to their financial planning.”

In addition to robo-advising, Overstock’s FinanceHub™ offers a one-stop source for brokerage and advising products, lending products, credit card products, and insurance products presented by various financial institutions.

About Overstock.com

Overstock.com, Inc. (Common Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures’ tZERO platform: OSTKP) / Series B Preferred (OTCQX:OSTBP)) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs, bedding, and home improvement. In addition to home goods, Overstock.com offers a variety of products including jewelry, electronics, apparel, and more, as well as a marketplace providing customers access to hundreds of thousands of products from third-party sellers. Additional stores include Pet Adoptions and Worldstock.com dedicated to selling artisan-crafted products from around the world. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock regularly posts information about the company and other related matters under Investor Relations on its website, http://www.overstock.com.

About tZERO Advisors

tZERO Advisors, LLC is an SEC Registered Investment Advisor. tZERO Advisors seeks to use technology to provide investors the best possible equity based portfolio for their stated risk tolerance. The tZERO offering includes: innovative, risk tolerance matching US based equity portfolios, dynamic portfolios designed to address changing markets, and analytics and algorithms that drive US equity based portfolios. Investing in securities involves risk and there is always the potential of losing money when you invest in securities. Before investing consider your objectives, tZERO charges and related expenses. Past performance is no guarantee of future results. This is not an offer or advice to buy or sell securities.

About FusionIQ

FusionIQ is an innovative fintech company that provides intelligent investment solutions that enable easy online investing. Through a low-cost digitally driven investment platform, investors benefit from FusionIQ’s real-time proprietary financial research and algorithm for scoring and ranking securities in four dimensional factors (fundamental, technical, sentiment and momentum) that are constantly adjusted for various market environments.

O, Overstock.com, O.com, Club O, Main Street Revolution, and Worldstock are registered trademarks of Overstock.com, Inc. O.biz and Space Shift are also trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company’s Form 10-Q for the quarter ended September 30, 2017, which was filed with the SEC on November 8, 2017, and any subsequent filings with the SEC.

Media Contact:
Mark Delcorps
+1 (801) 947-3564
pr@overstock.com

Investor Contact:
ir@overstock.com

Source: Overstock.com, Inc./globenewswire

Posted on January 23, 2018 by Retail News Editor

John Lewis partners with design team PATTERNITY to launch its first ever Fashion and Home collaboration

Department store works with the design duo famous for using pattern to encourage people to slow down, be more mindful and appreciate the world

LONDON, 2018-Jan-23 — /EPR Retail News/ — John Lewis has partnered with design team PATTERNITY to launch its first ever Fashion and Home collaboration, encompassing both homeware and athleisure. The PATTERNITY+ John Lewis collaboration celebrates the fundamental shapes and textures of life, encouraging patterns for positive living.

Founded in 2009 by ‘cult pattern pioneers’ Anna Murray and Grace Winteringham, PATTERNITY was born from a drive to use pattern as a tool to explore, innovate and inspire mindful living through design.

The 100+ piece collection will be available at Oxford Street, Leeds, Bluewater, Birmingham, Cardiff, Kingston, Liverpool, Stratford. The collection features PATTERNITY’s bold graphic patterns and positive mantras on John Lewis products. The collaboration starts at £12 for a soap dispenser and £25 for a bra top, to £99 for a coat and £150 for a rug.

John Lewis’s in-house team worked closely with PATTERNITY duo Anna and Grace to create the powerful collection which reflects the pattern of our lives and how it is shaped by the objects we use, the places we visit and spaces we live in. From cushions which are designed to create mindful daily rituals of comfort and consideration, to athleisure wear with bold patterns and inspirational mantras to encourage moments of daily reflection and appreciation in modern life.

Fashion

The 50+ piece athleisure collection ranges from bra tops, t-shirts, jumpers, jackets, dresses leggings, shorts, parkas and pac-a-macs. With bold patterns and inspiring slogans, the collection focuses on black, white, grey and aqua.

Home

The 45 piece home collection includes cushions, rugs, home fragrance, towels, bedding, rugs, and bathroom accessories. It’s use of the signature Ripple, Ritual, and Reflect patterns brings a bold aesthetic to beautifully-made everyday items made from materials including 100% organic cotton.

‘This collaboration is a celebration of the power of pattern to positively connect different areas of our daily lives’ says Anna Murray, PATTERNITY co-founder. ‘It is a playful exploration of the fundamental shapes, rituals and textures that make up life and we hope it will help inspire people to consider pattern in a much deeper and more meaningful way.’

‘We chose to collaborate with John Lewis as it is a brand which really evokes a sense of quality at an accessible price’ says Grace Winteringham, PATTERNITY co-founder. ‘It is an iconic household name but it’s clear that as well as having this timelessness John Lewis is also super forward-thinking, and it’s exciting that we are part of a collaboration which has merged fashion and home products for the first time.’

Philippa Prinsloo, head of home design at John Lewis: ‘PATTERNITY took as a starting point a day in our customers’ lives, designing products which fit seamlessly into the way we live today. I love the sense of calm and purpose that is inherent to their use of pattern, and the positive way it’s been applied to the products in this collaboration. It’s practical while retaining a sense of thoughtful design.’

Notes to editors

www.johnlewis.com/Patternity
#PATTERNITYXJohnLewis
#PositivePatterns

About PATTERNITY
Since 2009, Anna Murray and Grace Winteringham have been decoding the visual rhythms and cycles of everyday life. Inspired by a deep-seated belief in the power of pattern to positively change the world and expand our lives, they created the world’s leading online archive of pattern imagery, both man-made and natural. From its East London base.

PATTERNITY swiftly grew from an award winning portal of mesmerising imagery to become a fully fledged interdisciplinary creative studio, with a programme of events and educational initiatives dedicated to encouraging and enhancing well-being through the appreciation and understanding of pattern, both seen and unseen, in the world around us.

PATTERNITY-designed product ranges are sold in major museums and iconic retailers worldwide. The first book, A New Way of Seeing, was published in 2015, followed in 2017 by Be Great, Be Grateful, a gratitude journal and guidebook to inspire people to incorporate patterns of positive thinking and behavior into everyday life.

John Lewis – John Lewis operates 49 John Lewis shops across the UK (35 department stores, 12 John Lewis at home and shops at St Pancras International and Heathrow Terminal 2) as well as johnlewis.com. John Lewis, ‘Best In-Store Experience 2017’, ‘Best Furniture Retailer 2017,’ ‘Best Homewares Retailer 2017’*, stocks around 350,000 separate lines in its department stores and johnlewis.com across fashion, home and technology. Johnlewis.com is consistently ranked one of the top online shopping destinations in the UK. John Lewis Insurance offers a range of comprehensive insurance products – home, car, wedding and event, travel and pet insurance and life cover – delivering the values of expertise, trust and customer service expected from the John Lewis brand.

*Verdict Consumer Satisfaction Awards 2017

You can follow John Lewis on the following social media channels:
www.johnlewis.com/twitter
www.johnlewis.com/facebook
www.johnlewis.com/youtube.

Enquiries:
For further information please contact:

Home PR Team
Sian Grieve
Senior Communications Manager
Home and Technology
Telephone: 020 7592 6887
Email: sian.grieve@johnlewis.co.uk

Emma Cole
Senior Communications Officer, Home
Telephone: 020 7798 3829
Email: emma.cole@johnlewis.co.uk

Fashion PR Team
Emma Moran
Senior Communications Manager, Fashion and Beauty
Telephone: 020 7592 6058
Email: emma.moran@johnlewis.co.uk

Georgina Earnshaw
Communications Officer, Fashion and Beauty
Telephone: 020 7798 3874
Email: georgina.earnshaw@johnlewis.co.uk

Source: John Lewis

Posted on January 22, 2018 by EPR Retail News Editors

Lowe’s welcomes David H. Batchelder, Brian C. Rogers and Lisa W. Wardell as new independent directors

MOORESVILLE, N.C., 2018-Jan-22 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) announced today that it has appointed David H. Batchelder, co-founder of Relational Investors, and Lisa W. Wardell, CEO of Adtalem Global Education, to its board of directors effective March 22, 2018. The company will nominate Batchelder, Wardell and new nominee Brian C. Rogers, chairman of T. Rowe Price Group and its former chief investment officer, for election at Lowe’s 2018 Annual Meeting of Shareholders.

“We are pleased to welcome David, Brian and Lisa as new independent directors to the Lowe’s board and especially value the constructive discussions we have had with the D. E. Shaw group,” said Robert A. Niblock, Lowe’s chairman, president and CEO. “They join Lowe’s at an exciting time as we continue to drive our omni-channel strategy forward and build deeper relationships with pro customers to fulfill our purpose of helping people love where they live. The addition of these directors complements our board of directors’ skills and experiences, and we are confident they will provide valuable perspectives as we continue to execute our strategy, drive profitability and enhance value for all Lowe’s shareholders. We look forward to their contributions and are excited they chose Lowe’s.”

Lowe’s Board regularly evaluates its composition to ensure it includes the appropriate skills, experience and perspective necessary to drive growth for all Lowe’s shareholders, and with these director additions, eight directors will have joined Lowe’s actively engaged board in the past five years.

“We appreciate Lowe’s collaborative approach and are pleased to have worked together to enhance the company’s board of directors,” said Quentin Koffey, a portfolio manager at the D. E. Shaw group. “Lowe’s is an excellent company with tremendous value creation opportunities in front of it, and we believe the new directors will be significant assets to the board. We believe the refreshed board and the management team are committed to achieving outstanding performance and maximizing shareholder value.”

Batchelder will serve for the duration of his time as a director on the board’s compensation committee, chaired by Eric C. Wiseman, former chairman and CEO of VF Corporation, and the nominating and governance committee, chaired by Lowe’s Lead Director Marshall O. Larsen, former chairman and CEO of Goodrich Corporation.

Wardell will serve on the board’s audit committee, chaired by Raul Alvarez, chairman of Skylark Co., and the public policy committee, chaired by Angela F. Braly, former chair and CEO of WellPoint, Inc.

Rogers’ committee appointments will be determined immediately following his election to the board at the 2018 Annual Meeting of Shareholders.

Lowe’s other independent directors consist of Sandra B. Cochran, president and CEO of Cracker Barrel Old Country Stores; Laurie Z. Douglas, chief information officer and chief security officer of Publix Supermarkets; Richard W. Dreiling, retired chairman and CEO of Dollar General Corporation; Robert L. Johnson, founder and chairman of the RLJ Companies; James H. Morgan, retired chairman and CEO of Krispy Kreme Doughnuts; and Bertram L. Scott, senior vice president of Population Health and Value Based Care at Novant Health.

As previously planned under the board’s mandatory retirement policy, Robert L. Johnson will not stand for re-election at the 2018 Annual Meeting of Shareholders. Following Johnson’s retirement, the Lowe’s board will be composed of 13 directors, 12 of whom are independent.

About David H. Batchelder

Batchelder, 68, was a founder, principal and member of the investment committee at Relational Investors LLC from 1988 to 2015. Prior to that, he served in various executive positions at Mesa Petroleum Co., including as president and chief operating officer from 1986 to 1988. Batchelder served on several other public company boards, including The Home Depot from 2007 to 2011, ConAgra Foods from 2002 to 2007 and Mac Frugal’s Bargains Close-Outs Inc. from 1990 to 1997. He received a bachelor’s degree in accounting from Oklahoma State University.

About Brian C. Rogers

Rogers, 62, serves as non-executive chair of T. Rowe Price Group, Inc., having retired as chief investment officer of the company in March 2017. He was elected to the T. Rowe Price board of directors in 1997 and was named board chair in 2007. As a member of the board, he has served on the U.S. equity steering, fixed income steering, international equity steering, product strategy steering, and management compensation committees, as well as the proxy committee. He joined T. Rowe Price in 1982 and served in several roles including chief investment officer from 2004 to 2017 and president of two T. Rowe Price funds. Prior to joining T. Rowe Price, Rogers worked at Bankers Trust Company. Rogers earned a bachelor’s degree from Harvard College and an MBA from Harvard Business School. Rogers is in the process of receiving the necessary consents from his other boards with respect to his joining Lowe’s as a board member.

About Lisa W. Wardell

Wardell, 48, currently serves as president and chief executive officer of Adtalem Global Education, a role she has held since 2016. Wardell has been a member of Adtalem’s board of directors since 2008 and has chaired its audit committee. Prior to her current position, she served as executive vice president and chief operating officer for The RLJ Companies for a total of 12 years, and as principal at the private equity firm Katalyst Venture Partners for four years. From 1998 to 2000, Wardell worked as a senior consultant for Accenture in the organization’s communications and technology strategic services practice. Wardell earned her bachelor’s degree from Vassar College, her law degree from Stanford Law School and her master’s degree in finance and entrepreneurial management from the Wharton School of Business. Wardell is a member of The Business Council and the Executive Leadership Council. Among numerous recognitions, she was recently named to Savoy Magazine’s Power 300: Most Influential Black Corporate Directors list (2017 and 2016) and has been recognized by Black Enterprise magazine as one of the “300 Most Powerful Executives in Corporate America” (2017).

About Lowe’s

Disclosure Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as “believe”, “expect”, “anticipate”, “plan”, “desire”, “project”, “estimate”, “intend”, “will”, “should”, “could”, “would”, “may”, “strategy”, “potential”, “opportunity” and similar expressions are forward-looking statements. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. Forward-looking statements include, but are not limited to, statements about future financial and operating results, Lowe’s plans, objectives, business outlook, priorities, expectations and intentions, expectations for sales growth, comparable sales, earnings and performance, shareholder value, capital expenditures, cash flows, the housing market, the home improvement industry, demand for services, share repurchases, Lowe’s strategic initiatives, including those relating to acquisitions by Lowe’s and the expected impact of such transactions on our strategic and operational plans and financial results, and any statement of an assumption underlying any of the foregoing and other statements that are not historical facts. Although we believe that the expectations, opinions, projections and comments reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and we can give no assurance that such statements will prove to be correct. Actual results may differ materially from those expressed or implied in such statements.

A wide variety of potential risks, uncertainties and other factors could materially affect our ability to achieve the results either expressed or implied by these forward-looking statements including, but not limited to, changes in general economic conditions, such as the rate of unemployment, interest rate and currency fluctuations, fuel and other energy costs, slower growth in personal income, changes in consumer spending, changes in the rate of housing turnover, the availability of consumer credit and of mortgage financing, inflation or deflation of commodity prices, and other factors that can negatively affect our customers, as well as our ability to: (i) respond to adverse trends in the housing industry, a reduced rate of growth in household formation, and slower rates of growth in housing renovation and repair activity, as well as uneven recovery in commercial building activity; (ii) secure, develop, and otherwise implement new technologies and processes necessary to realize the benefits of our strategic initiatives focused on omni-channel sales and marketing presence and enhance our efficiency; (iii) attract, train, and retain highly-qualified associates; (iv) manage our business effectively as we adapt our operating model to meet the changing expectations of our customers; (v) maintain, improve, upgrade and protect our critical information systems from data security breaches, ransomware and other cyber threats; (vi) respond to fluctuations in the prices and availability of services, supplies, and products; (vii) respond to the growth and impact of competition; (viii) address changes in existing or new laws or regulations that affect consumer credit, employment/labor, trade, product safety, transportation/logistics, energy costs, health care, tax or environmental issues; (ix) positively and effectively manage our public image and reputation and respond appropriately to unanticipated failures to maintain a high level of product and service quality that could result in a negative impact on customer confidence and adversely affect sales; and (x) effectively manage our relationships with selected suppliers of brand name products and key vendors and service providers, including third party installers. In addition, we could experience impairment losses if either the actual results of our operating stores are not consistent with the assumptions and judgments we have made in estimating future cash flows and determining asset fair values, or we are required to reduce the carrying amount of our investment in certain unconsolidated entities. With respect to acquisitions, potential risks include the effect of such transactions on Lowe’s and the target company’s strategic relationships, operating results and businesses generally; our ability to integrate personnel, labor models, financial, IT and others systems successfully; disruption of our ongoing business and distraction of management; hiring additional management and other critical personnel; increasing the scope, geographic diversity and complexity of our operations; significant integration costs or unknown liabilities; and failure to realize the expected benefits of the transaction. For more information about these and other risks and uncertainties that we are exposed to, you should read the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Critical Accounting Policies and Estimates” included in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) and the description of material changes thereto, if any, included in our Quarterly Reports on Form 10-Q or subsequent filings with the SEC.

The forward-looking statements contained in this news release are expressly qualified in their entirety by the foregoing cautionary statements. The foregoing list of important factors that may affect future results is not exhaustive. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. All such forward-looking statements are based upon data available as of the date of this release or other specified date and speak only as of such date. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf about any of the matters covered in this release are qualified by these cautionary statements and in the “Risk Factors” included in our most recent Annual Report on Form 10-K and the description of material changes thereto, if any, included in our Quarterly Reports on Form 10-Q or subsequent filings with the SEC. We expressly disclaim any obligation to update or revise any forward-looking statement, whether as a result of new information, change in circumstances, future events or otherwise, except as may be required by law.

SOURCE: Lowe’s

Media Inquiries

704-758-2917
PublicRelations@Lowes.com

Posted on January 11, 2018 by Retail News Editor

Lowe’s Canada to convert 17 Marcil stores in Quebec to the RONA banner on February 26

RONA continues to expand with the addition of the 17 Marcil stores
Marcil customers to have access to an enhanced products and services offering

Boucherville, QC, 2018-Jan-11 — /EPR Retail News/ — Lowe’s Canada announced earlier today (January 9, 2018) that the 17 Marcil stores located in Quebec will be converted to the RONA banner on February 26. This decision furthers Lowe’s Canada’s vision to make RONA the #1 banner in the building centre market (small to medium stores, also known as “proximity stores”) in the country.

“We are committed to RONA and the proximity building center model as one of Lowe’s Canada pillar of growth,” said Serge Éthier, Executive Vice-President of RONA Proximity. “RONA and Marcil operate in the same market segment, have complementary locations, and both serve a large client base of contractors and pros. It was therefore natural to combine the strengths of both banners. This decision will allow us to maximize our products and services offering to Marcil retail and professional customers, while simplifying our operations,” he added.

Starting February 26, consumers who used to shop at Marcil will see the product selection available to them double, going from approximately 20 000 items to more than 40 000 products available in store and on rona.ca. In addition, they will benefit from the introduction of new product categories, such as home appliances and a wide seasonal department, as well as from a transactional website that will not only let them consult the product catalogue and verify store inventory, but also order online and collect their items in store or have them delivered by truck.

“We are happy to fuel RONA’s growth with the addition of these 17 stores and their seasoned teams, and we are impatient to show the Marcil customers the numerous advantages of the RONA banner,” concluded M. Éthier

About RONA
Created in 1939, RONA is a banner of Lowe’s Canada, one of Canada’s leading home improvement company. Spanning the entire country, its vast network of more than 430 stores includes both corporate stores and independent affiliated dealers. Known for its large in-store and online product selection as well as for its installation services, RONA also provides expert support and advice to its retail and pro customers for their building and renovation projects. For more information, visit rona.caor follow us on Twitter, Facebook, and Instagram.

About Lowe’s Canada
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 17 million customers a week in the United States, Canada and Mexico. With fiscal year 2016 sales of $65.0 billion, Lowe’s and its related businesses operate or service more than 2,370 home improvement and hardware stores and employ over 290,000 people. Based in Boucherville, Quebec, Lowe’s Canadian business, together with its wholly owned subsidiary, RONA inc., operates or services more than 600 corporate and independent affiliate dealer stores in a number of complementary formats under different banners. These include Lowe’s, RONA, Réno-Dépôt, Marcil, Dick’s Lumber and Ace. In Canada, the companies have more than 25,000 employees, in addition to nearly 5,000 employees in the stores of RONA’s independent affiliate dealers. For more information, visit Lowes.ca.

For more information, please contact:

Valérie Gonzalo
Media Relations
Lowe’s Canada – RONA
514.626.6976
media@rona.ca

Source: Lowe’s Companies, Inc.

Posted on January 11, 2018 by Retail News Editor

Overstock.com launches augmented reality (AR) feature within its iOS shopping app

Amit Goyal, Overstock.com’s SVP of software engineering, chairs VRARA’s global retail and e-commerce committee and forms the Association’s Utah chapter

SALT LAKE CITY, 2018-Jan-11 — /EPR Retail News/ — Months after Overstock.com, Inc. (NASDAQ:OSTK) announced the launch of its augmented reality (AR) feature within its iOS shopping app, the organization’s senior vice president of software engineering, Amit Goyal, was named as the chair to VR/AR Association (VRARA)’s global retail and e-commerce committee. Along with Goyal’s responsibility as chair, he will serve as president of the newly formed Utah chapter, growing VRARA to 51 global chapters, 19 of which are located in the U.S.

“We’re thrilled to have Amit Goyal join VRARA and chair our retail and eCommerce committee,” said Kris Kolo, Global Executive Director of the VR/AR Association. “His retail industry expertise and insight from building Overstock’s shopping app and AR function marks a crucial addition to VRARA’s growth.”

The award-winning iOS shopping app allows shoppers to view how products, like furniture, rugs, décor and other home goods, fit in their home using a smart phone or tablet with iOS11. With true-to-life-size 3D models in the highest resolution, shoppers have an accurate representation of the product directly in their home or office.

“Augmented reality is changing the way people shop,” said Goyal. “At Overstock, we focus on price, assortment and convenience, and our augmented reality feature brings an innovative convenience to shoppers. It’s important for our customers to see how these products will fit with their décor or simply if it will fit in their living rooms. So, we have invested significant resources to insure we are at the leading edge of AR and we’re proud to bring what we’ve learned and achieved to VRARA.”

Comprised of almost 4,000 companies, VRARA is an international organization designed to foster collaboration between innovative companies and people in the virtual reality and augmented reality ecosystem that accelerates growth, fosters research and education, helps develop industry standards, connects member organizations and promotes the services of member companies.

The new AR app feature is currently available on the iOS version of the retailer’s shopping app, and utilizes Apple’s ARKit, which was included in the iOS 11 operating system update. Android app AR functionality featuring Google’s new ARCore technology will follow when that operating system is released.

Overstock’s highly-rated shopping app has been awarded five consecutive Mobile App Awards from the Mobile Web Association. The app is available for download from both the App Store and Google Play.

The VR/AR Association is hosting the biggest VR AR online event from January 16 to 29, 2018 with more than 65 speakers, 3000 RSVPs and 10 symposiums focused on education, enterprise, storytelling, retail, AEC, marketing, advertising, webVR and arcades/LBE/Haptics. You can hear from Goyal on January 18 on VR and AR in retail. For more information on the conference, visit www.thevrara.com/events

About Overstock.com

Overstock.com, Inc. Common Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures’ tZERO platform: OSTKP) / Series B Preferred (OTCQX:OSTBP) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs, bedding, and home improvement. In addition to home goods, Overstock.com offers a variety of products including jewelry, electronics, apparel, and more, as well as a marketplace providing customers access to hundreds of thousands of products from third-party sellers. Additional stores include Pet Adoptions and Worldstock.com dedicated to selling artisan-crafted products from around the world. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock regularly posts information about the company and other related matters under Investor Relations on its website, http://www.overstock.com.

Media Contact:
pr@overstock.com

Kris Kolo, VRAR Association (VRARA)
kris@thevrara.com

Investor Contact:
ir@overstock.com

SOURCE: Overstock.com, Inc./globenewswire

Posted on January 10, 2018 by Retail News Editor

Alliance Data Systems Corporation to provide branded credit card services in the United States for IKEA Group

New credit program to support the rapid growth of IKEA in the U.S.
Seamless application in stores and online will enable customers to begin enjoying benefits of the loyalty-driven card
Alliance Data’s proprietary data assets will deliver custom analytics and insights to drive top-line sales and increase visits online and in-store

PLANO, TX, 2018-Jan-10 — /EPR Retail News/ — Alliance Data Systems Corporation (NYSE: ADS), a leading global provider of data-driven marketing and loyalty solutions, today (Jan. 9, 2018) announced its Columbus, Ohio-based card services business, a premier provider of branded private label, co-brand and business credit card programs, has signed a new agreement to provide branded credit card services in the United States for IKEA Group (www.ikea.com), the world’s largest furniture retailer. The IKEA Group operates 47 stores in the U.S. and a total of 362 in 29 countries around the world. IKEA aims to offer consumers home furnishing solutions of good design and function at affordable prices.

Alliance Data will create a loyalty-driven credit card program that combines customer insights and industry benchmarking to develop a customized rewards and benefits package tailored for the unique IKEA customer base. The co-branded rewards card can be used for both IKEA purchases and for everyday spending needs such as gas, groceries and utilities. The card will incorporate custom program perks designed to recognize customers for their loyalty. In order to make the card as affordable and rewarding as possible, IKEA Group in the U.S. has designed the card without an annual fee, and will reinvest resources from the card to offer customers more generous rewards. Alliance Data will leverage its digital and mobile expertise throughout the customer’s shopping journey, including its Frictionless Mobile CreditSM, which provides a seamless application experience–throughout the store or online–and puts customers in control of how and where they want to initiate the experience.

In addition, the new IKEA Projekt Card in the U.S. will function as a store-branded financing solution for qualified customers doing major home decorating and renovation projects, such as a dream kitchen. It will provide special financing options, allowing customers to pay for larger purchases over time.

“Making life better and easier for the many people drives everything we do at IKEA, and we were looking for a like-minded credit marketing partner that is passionate about the same values,” said Jacqueline DeChamps, chief operating officer at IKEA U.S. “Alliance Data really understands our company and will deliver meaningful credit and loyalty programs, while constantly innovating based on our customer needs. Leveraging Alliance Data’s skillset in loyalty and marketing, we are excited about how this new partnership will enhance our customers’ shopping experience across channels with added convenience and benefits.”

“Alliance Data and IKEA share a common culture focused on doing what is right for customers, the community, and the environment,” said Melisa Miller, president of Alliance Data’s card services business. “We are thrilled to embark on this exciting new partnership to provide an unparalleled customer experience through our credit programs. We are confident that our lifecycle marketing approach will attract existing and new IKEA customers as lifelong cardmembers, motivated by a credit and loyalty experience that reflects the deliberately different approach that has earned IKEA its leadership position in the industry.”

IKEA U.S. utilized the services of the International Law Firm of Alston & Bird to consummate the transaction.

About IKEA
Since its 1943 founding in Sweden, IKEA has offered home furnishings of good design and function at low prices. The IKEA Group operates 362 IKEA stores in 29 countries, including 47 in the U.S. IKEA incorporates sustainability into day-to-day business and supports initiatives that benefit children and the environment. For more information see IKEA-USA.com, @IKEAUSANews, @IKEAUSA or IKEAUSA on Facebook, YouTube, Instagram and Pinterest.

About Alliance Data’s card services business
Alliance Data’s card services business is a leading provider of tailored marketing and loyalty solutions, delivered through branded credit programs that drive more profitable relationships between our brand partners and their cardmembers. We offer private label, co-brand, and business card products to many of the world’s most recognizable brands across a multitude of channels.

We uphold our Know more. Sell more.® promise by leveraging unmatched customer insights, advanced analytics, and broad-reaching innovative capabilities. It’s how we deliver increased sales to our partners, build enduring loyalty to their brands, and provide more value to our cardmembers. Alliance Data’s card services business is a proud part of the Alliance Data enterprise. To learn more, visit www.KnowMoreSellMore.com or follow us on Twitter @Know_SellMore.

About Alliance Data
Alliance Data® (NYSE: ADS) is a leading global provider of data-driven marketing and loyalty solutions serving large, consumer-based industries. The Company creates and deploys customized solutions, enhancing the critical customer marketing experience; the result is measurably changing consumer behavior while driving business growth and profitability for some of today’s most recognizable brands. Alliance Data helps its clients create and increase customer loyalty through solutions that engage millions of customers each day across multiple touch points using traditional, digital, mobile and emerging technologies. An S&P 500 and Fortune 500 company headquartered in Plano, Texas, Alliance Data consists of three businesses that together employ more than 17,000 associates at approximately 100 locations worldwide.

Alliance Data’s card services business is a leading provider of marketing-driven branded credit card programs. Epsilon® is a leading provider of multichannel, data-driven technologies and marketing services, and also includes Conversant®, a leader in personalized digital marketing. LoyaltyOne® owns and operates the AIR MILES® Reward Program, Canada’s premier coalition loyalty program, and Netherlands-based BrandLoyalty, a global provider of tailor-made loyalty programs for grocers.

Investor information about Alliance Data’s businesses may be found here.

Follow Alliance Data on Twitter, Facebook, LinkedIn and YouTube.

Forward Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our expectations or forecasts of future events and can generally be identified by the use of words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “project,” “plan,” “likely,” “may,” “should” or other words or phrases of similar import. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements.

We believe that our expectations are based on reasonable assumptions. Forward-looking statements, however, are subject to a number of risks and uncertainties that could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release, and no assurances can be given that our expectations will prove to have been correct. These risks and uncertainties include, but are not limited to, factors set forth in the Risk Factors section in our Annual Report on Form 10-K for the most recently ended fiscal year, which may be updated in Item 1A of, or elsewhere in, our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K.

Our forward-looking statements speak only as of the date made, and we undertake no obligation, other than as required by applicable law, to update or revise any forward-looking statements, whether as a result of new information, subsequent events, anticipated or unanticipated circumstances or otherwise.

Contact:
Latisha Bracy
(610) 834-0180, x5615

Source: IKEA

Posted on January 8, 2018 by EPR Retail News Editors

Lowe’s Canada opens new model Lowe’s store in Gloucester

Lowe’s Canada celebrates the opening of the first new model Lowe’s store in the Greater Ottawa Area

Boucherville, QC, 2018-Jan-08 — /EPR Retail News/ — Lowe’s Canada opened today its fifth store under the new model of Lowe’s stores in Canada which offers an enhanced shopping experience. The store, located at 1880 Innes Road in Gloucester, was converted from the former RONA Home and Garden. It was designed by taking the best of Lowe’s and RONA’s offering to create the new model of Lowe’s stores. This is the first new model Lowe’s store to open in the greater Ottawa area.

“We are thrilled to kick off the New Year with the grand opening of this new model Lowe’s store in Gloucester, which combines the best of what RONA and Lowe’s have to offer across the country,” says Guy Beaumier, Interim Executive President, Lowe’s Canada Big Box Retail. “In 2018, we will continue Lowe’s Big Box evolution to bring our enhanced shopping experience, which includes brand new features to better serve our commercial clientele, to even more Canadian customers.”

The store underwent an extensive 16-week physical transformation from the former RONA which involved construction, departmental sequencing of new racking and re-merchandising, branding and IT conversion, as well as a significant investment in our people with exhaustive training focused on new product knowledge and customer service.

New Retail Experience
The new Gloucester Lowe’s will offer an enhanced retail experience, including:

A wider assortment of seasonal products such as patio, Halloween and items for the Holiday season in line with the latest fashion trends.
The introduction of entirely new product categories such as appliances, Lowe’s private labels, and top brands such as John Deere, Husqvarna, and Cub Cadet.
A broader selection of fashion plumbing products such as tubs, showers, toilets, vanities, sinks and faucets with the introduction of high-profile brands such as Kohler and Grohe.
Floor displays featuring the latest fashions in wood flooring and tiles with larger displays at eye level allowing customers to better visualize their projects and better experience the texture of flooring products.
Access to more than 100,000 products on www.lowes.ca

Enhanced Contractor Experience
The new Gloucester location offers an enhanced shopping experience for pros and commercial customers, including:

The introduction of the Contractor Rewards Program (i.e. loyalty and pricing program)
Access to a drive-through lumber yard where contractors can load their vehicles directly to save time, as well as have access to a broader lumber assortment.
The Gloucester store is the fifth Lowe’s store in Canada to introduce charge accounts that will allow commercial customers to shop at any RONA corporate store and new model Lowe’s store in Canada and receive a single monthly invoice.
Introduction of corporately owned and operated delivery trucks to provide a more personalized level of service for deliveries to contractors.
Enhanced assortment in key contractor categories including lumber, building materials, millwork, tools, hardware, etc.

The new Gloucester Lowe’s marks the company’s 61st store in Canada under the Lowe’s banner and fourth Lowe’s location in the Greater Ottawa market. The store represents a local investment in excess of $5.16 million and created 35 new jobs – in total the store has 150 permanent positions and approximately 35 seasonal roles.

The store offers about 40,000 products in-stock to meet customers’ home improvement needs, and features retail offering space totaling more than 169,000 square feet, including 74,965 square feet of retail sales space, an adjacent garden centre of 30,706 square feet, a covered lumberyard of 25,698 square feet, and an additional outdoor drive-through lumberyard of 37,940 square feet.

Today, local dignitaries and Lowe’s executives joined employees from the store to celebrate the grand opening through an official board cutting ceremony and community grant presentation. Lowe’s donated $5,000 to the Children’s Hospital of Eastern Ontario to fund the purchase of oxygen blenders for the hospital’s Neonatal Intensive Care Unit (NICU).

Grand Opening Events
Grand opening activities for the new store, where customers can enjoy free sessions, giveaways and contests, will continue until Monday. These include:

Children’s Workshop for families on Saturday, January 6 at 10 a.m.
Live in-store radio remote with Hot 89.9 on Saturday, January 6, with a draw for a $250 Lowe’s gift card and a small appliance.
Giveaways including: Char-Broil spatula (first 75 customers, Thursday only); Sylvania A19 LED 60-watt light bulb (first 1,000 customers, Friday only); $25 Lowe’s gift card (first 200 customers, Saturday only) and a DeWalt 4-pce. spade bit set (first 200 customers, Sunday only).
Customers can also enter to win 1 of 4 grand prizes.
Contractor exclusive VIP event on Monday, January 8 from 12 to 2 p.m. There will be a draw to win 1 of 3 $250 Lowe’s gift cards and contractors can fill out a ballot to win 1 of 4 tool prizes. To register, contractors can call the store at 613.741.6331 and ask to speak with the Contractor Specialist to request an invite.

For more information, please contact:

Valérie Gonzalo
Media Relations
514.626.6976
media@rona.ca

Posted on December 28, 2017 by Retail News Editor

The Home Depot® acquires leading online retailer of textiles and home décor products The Company Store

ATLANTA, 2017-Dec-28 — /EPR Retail News/ — The Home Depot® announced today (Dec 21, 2017) that it has acquired The Company Store, a leading online retailer of textiles and home décor products, from Hanover Direct. The deal closed on December 19 and terms were not disclosed.

In addition to its success as an online retailer, The Company Store has strong relationships and industry leading capabilities in the development and sourcing of high quality textiles across bedding, bath, and related categories. Founded in 1911, The Company Store has a rich history of providing products that are highly sought after by customers as they put the finishing touches on a room.

“The acquisition of The Company Store provides product development and sourcing capabilities to help us expand our online décor business into broader categories across the entire home,” said Craig Menear, chairman, CEO and president of The Home Depot. “On behalf of our 400,000-plus associates, I want to welcome The Company Store’s talented associates into The Home Depot family.”

The acquisition does not include The Company Store’s five retail locations.

The Home Depot is the world’s largest home improvement specialty retailer, with 2,284 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. In fiscal 2016, The Home Depot had sales of $94.6 billion and earnings of $8.0 billion. The Company employs more than 400,000 associates. The Home Depot’s stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor’s 500 index.

Forward-Looking Statements

Certain statements contained herein constitute “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may relate to, among other things, the demand for our products and services; effects of competition; state of the residential construction, housing and home improvement markets; capital allocation and expenditures; financial outlook; and integration of The Company Store into our organization and the ability to recognize the anticipated synergies and benefits of the acquisition. Forward-looking statements are based on currently available information and our current assumptions, expectations and projections about future events. You should not rely on our forward-looking statements. These statements are not guarantees of future performance and are subject to future events, risks and uncertainties – many of which are beyond our control or are currently unknown to us – as well as potentially inaccurate assumptions that could cause actual results to differ materially from our expectations and projections. These risks and uncertainties include but are not limited to those described in Item 1A, “Risk Factors,” and elsewhere in our Annual Report on Form 10-K for our fiscal year ended January 29, 2017 and in our subsequent Quarterly Reports on Form 10-Q.

Forward-looking statements speak only as of the date they are made, and we do not undertake to update these statements other than as required by law. You are advised, however, to review any further disclosures we make on related subjects in our periodic filings with the Securities and Exchange Commission.

SOURCE: The Home Depot

Posted on December 22, 2017 by Retail News Editor

Blockchain leader Bitt launches new mMoney digital payment product in Barbados

BRIDGETOWN, Barbados, 2017-Dec-22 — /EPR Retail News/ — Blockchain leader Bitt recently launched its new mMoney digital payment product in Barbados. The Barbados Entrepreneurship Foundation (BEF) and several of its strategic partners participated in the soft launch, which marked the region’s first “digital dollar only” event. Overstock.com’s (NASDAQ:OSTK) blockchain investment vehicle Medici Ventures owns stock and options on 34.8 percent of Bitt.

Under the mMoney brand, Bitt is bringing to market a blockchain-based mobile wallet that allows users to participate in digital transactions on their smartphones from a secure account. The accounts will be 100 percent backed by segregated funds in appropriate currencies in Bitt’s custody. “mMoney is mobile money. It is safer, faster and smarter, which means that entrepreneurs as well as Micro, Small and Medium Enterprises (MSMEs) can benefit from the merchant solution,” said Rawdon Adams, Bitt’s CEO.

Adams was careful to explain how Bitt’s new solution differs from traditional mobile banking. While both must observe compliance and Know Your Customer (KYC) regulations, mobile banking requires that customers have a traditional account at a financial institution, commercial bank, or credit union. In contrast, Bitt’s new mobile money allows users to store, send, and receive digital fiat currency using their phones without having to link to traditional financial institutions.

This will result in significant savings of time and money for MSMEs that currently face high bank fees and lengthy waiting times for transactions to clear. “mMoney is designed to support increased financial inclusion,” said Adams. “It gives merchants the ability to offer an innovative payment option which is, among other things, faster, more secure, more inclusive, more convenient, and more cost-effective than existing options.”

mMoney is only the beginning of the company’s plans to create a digital money ecosystem in the Caribbean and beyond. According to the World Bank, approximately 38 percent of the world is unbanked. In the US, about seven to eight percent of the population is unbanked, and these figures increase exponentially in developing nations with the Caribbean at approximately forty-nine percent.

Bitt has recently reached an agreement with a central bank elsewhere in the hemisphere to digitize its fiat currency, a significant step toward surfacing the billions of dollars of value currently trapped in informal economies among unbanked citizens and microentrepreneurs. Bitt will serve as a platform on top of which users will eventually be able to access loans, insurance, and other financial products.

About Medici Ventures:
Launched in 2014, Medici Ventures is a wholly owned subsidiary of Overstock.com, Inc., created to leverage blockchain technology to solve real-world problems with transparent, efficient and secure solutions. Medici Ventures has a growing portfolio of groundbreaking blockchain-focused investments, including t0.com, Peernova, Bitt, SettleMint, Factom, and IdentityMind, Spera and Symbiont. The company’s majority-owned financial technology company, t0.com, executed the world’s first blockchain-based stock offering in December 2016.

About Overstock.com
Overstock.com, Inc. Common Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures’ tZERO platform: OSTKP) / Series B Preferred (OTCQX:OSTBP) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs, bedding, and home improvement. In addition to home goods, Overstock.com offers a variety of products including jewelry, electronics, apparel, and more, as well as a marketplace providing customers access to hundreds of thousands of products from third-party sellers. Additional stores include Pet Adoptions and Worldstock.com dedicated to selling artisan-crafted products from around the world. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock regularly posts information about the company and other related matters under Investor Relations on its website, http://www.overstock.com.

Media Contact:
pr@mediciventures.com

SOURCE: Overstock.com, Inc./globenewswire

Posted on December 14, 2017 by EPR Retail News Editors

Inditex Group’s net sales rose by 10% to €17.96 billion in Q3 2017

The Group continues to develop its integrated offline-online platform, rolling out same-day delivery in six cities and next-day delivery in six markets, including Spain, France, the UK and China.
Inditex is deploying automated in-store pick-up points for online orders.
Store count reached 7,504 with a footprint in 94 markets, having opened its first stores in Belarus in the third quarter.
The Group’s retail brands opened new stores in 52 different markets during the reporting period, including in the US, Vietnam, China and Turkey.
The Group’s online presence reached 45 markets, following the launch of www.zara. com in India. Bershka’s online platform also went live in the US.
Net profit for the first nine months of the fiscal year registered growth of 6% to €2.3 bn.
The Group renewed its community investment agreements for emergency relief with Médecins Sans Frontières (MSF).
The third quarter was marked by the tenth anniversary of the Framework Agreement between Inditex and IndustriALL Global Union; a meeting took place with the International Labour Organization (ILO) to monitor the joint projects underway.
Store and online sales increased by 13% in local currencies between 1 November and 11 December 2017.

Key information

Arteixo, Spain, 2017-Dec-14 — /EPR Retail News/ — The Inditex Group’s net sales rose by 10% in the first nine months of fiscal 2017 – from 1 February to 31 October –, on top of the growth of 11% recorded in the same period of 2016, to €17.96 billion. Net profit was €2.3 billion, with year-on-year growth of 6%.

The Group’s achieved a strong operating performance in the period. It made further progress on the global roll-out of its fully integrated store and online model, whilst also continuing to bolster its strategy of opening and refurbishing flagship stores on the world’s busiest shopping streets and optimising its sales floor area.

Commenting on the online-offline model, the company’s Chairman and CEO, Pablo Isla, highlighted the “increasingly integrated management of the platform, which is translating into value-added customer services”. Isla highlighted services such as same-day delivery, -already on offer in Madrid, London, Paris, Istanbul, Taipei and Shanghai-, next-day delivery, -available in Spain, France, the UK, Poland, China and South Korea- and the rollout of automated in-store pick-up points for orders placed online. Also, remarked the simultaneous offline and online transition between collections, both between seasons and every fortnight when the various collections are refreshed.

International expansion

In the current reporting period, the Group continued to expand its integrated online-offline sales platform and its sales floor area increased across all geographies. During the first 9 months, Inditex opened 212 stores in 52 markets, increasing its global footprint to 94 markets, with the inauguration of a 4,000 square metre flagship Zara store, as well as Massimo Dutti, Pull&Bear, Bershka, Stradivarius, Zara Home and Oysho stores, in Minsk (Belarus) last August.

Inditex opened 74 stores in Europe, 48 in the Americas and 90 in Asia and the rest of the world, with all of the Group’s retail formats adding to their store counts.

As for the online platform, Inditex’s reach currently extends to 45 markets in the wake of the inauguration of Zara’s online operations in India in October. During the 9M17, Zara also launched online sales in Malaysia, Singapore, Thailand and Vietnam.

The period was also marked by the inauguration and expansion of multiple Zara flagship stores worldwide, including: the iconic 6,000 square-metre establishment at Castellana 79 in Madrid (Spain); Zara’s first street store in Bombay, which occupies 4,800 square metres in the emblematic Ismail Building; the new 2,200 square-metre Zara Cloud Nine store in Shanghai (China); and a 4,500 square-metre space in Hanoi (Vietnam). The last two flagship stores opened to the public in November.

Additionally, Zara also opened new stores in in the US, in California, New Jersey, Michigan and, most recently in Florida. In Canada, Zara recently opened stores in Toronto, Calgary and Halifax. Finally, Zara opened numerous high-profile stores in the Chinese cities of Harbin, Shenzen, Hangzhou, Chongquing, Yiwu and Shanghai.

Turning to store expansion and refurbishment, Zara reopened stores in the Marineda shopping centre in A Coruña (Spain) -equipped with one of the Group’s in-store pick-up points for online orders-; its flagship store in Seoul (Korea); Westfield Century City shopping centre in Los Angeles (US); Forum des Halles in Paris (France); Smáralind shopping centre in Reykjavik (Iceland); Avenida de Santa Fe in Buenos Aires (Argentina); in the Wanda and Sky Mall shopping centres in Shanghai (China) and on Corso Garibaldi in Regio Calabria (Italy).

These came on the heels of other flagship reopenings earlier in the year such as the refurbished 4,000 square-metre Zara Opera store in Paris (France) and the 2,500 squaremetre Zara Nagoya store in Japan.

Bershka, meanwhile, reopened its flagship store in the Tokyo’s Shibuya district on 15 September. The refurbished store has been updated to portray the brand’s newest image, embodied by the Stage concept, across 1,000 square metres over four floors which house the Bershka, Bsk and Man collections.

Bershka also opened high-profile stores in Bielefeld (Germany), Harbin (China), Bogota (Colombia) and the Mall of Egypt in Cairo (Egypt), a shopping centre in which Massimo Dutti, Oysho, Pull&Bear, Stradivarius and Zara Home also recently opened new stores.

Bershka also increased its online reach, launching its e-commerce platform in South Korea, Japan and the US. The US launch was accompanied by a pop-up store in the heart of New York’s SoHo district which is going to remain open until the end of December, showing the brand’s autumn-winter collections.

Massimo Dutti, Pull&Bear and Stradivarius opened their first stores in Vietnam, in Ho-Chi Minh City, while Zara Home inaugurated its maiden stores in Armenia and the Czech Republic, a market in which Oysho, also extended its footprint to Honduras during the quarter.

During the period, Massimo Dutti opened high-profile stores, in Baku (Azerbaijan); Hangzhou (China); Goyang (South Korea); Cracow and Wroclaw in Poland; and in the Torre Manacar shopping centre in Mexico D.F.

In addition, it reopened its stores in Ermou in Athens (Greece) and in the Sturegalleriaen in Stockholm (Sweden), following significant expansions. In addition, inaugurated a 1,500 square-metre flagship store in Valencia (Spain) and another one in Zurich (Switzerland) on 1 December. Massimo Dutti also updated its image at its store on Massira Al Khadra in Casablanca. The new image is true to the brand’s hallmark values: elegance, quality, sobriety and sustainability.

Pull&Bear, opened major stores in Moscow (Russia); Graz (Austria); the Loom shopping centre in Bielefeld (Germany); the Yiwu City Life Square shopping centre in Yiwu (China); Bogota (Colombia), Puebla (Mexico); Yogyakarta (Indonesia); Ra’anana (Israel); Lule (Portugal); Kiev (Ukraine); and two new stores in Istanbul and another in Bursa (Turkey). Pull&Bear also reopened and expanded existing stores including Porto Pi, Palma de Mallorca (Spain); on Île de France (France) and on Via Independenza in Bologna (Italy).

In addition to expanding its online platform to South Korea, Oysho opened a significant number of new stores in the quarter, including in the Wharf IFS shopping centre in Chongqing (China); the La Felicidad shopping centre in Bogota (Colombia); in the cities of Patras (Greece); Goyang (South Korea), Genoa (Italy), Moscow (Russia) and Turkey, where it opened three new stores between Istanbul and Bursa. It also expanded its Spanish flagship stores on Barcelona’s Paseo de Gracia and on Logroño’s calle San Antón.

Zara Home, welcomed its customers to new stores in Riad (Saudi Arabia); Las Condes in Santiago de Chile (Chile); and the Chinese cities of Hangzhou and Shenzhen. Other new establishments included those added in Goyang (South Korea); Cairo (Egypt); and Diezerstraat in Zwolle (Netherlands).

The home fashion chain also opened two stores in Poland, three in Turkey and new establishments in Punta Cana (Dominican Republic), Moscow (Russia) and Madrid (Spain). Zara Home refurbished and expanded its flagship stores on Grosse Bleichen in Hamburg (Germany) and in the W Shopping centre in Brussels (Belgium).

Stradivarius, meanwhile, opened high-profile stores in Poland – specifically in the Arkady Wroclawskie shopping centre in Wroclaw -, Motril (Spain), Palermo (Italy), Tangier (Morocco), Beirut (Lebanon), Puerto Vallarta (Mexico), Serris and Villeneuve la Garenne (France), the Binjiang Paradise Walk shopping centre in Hangzhou (China) and in the Hilltown shopping centre in Istanbul (Turkey).

Stradivarius reopened its flagship store in the emblematic Plaza de Lugo in La Coruña (Spain). This store, which spans over 600 square metres, reflects the brand’s renewed style and introduces genuine ash timber for the first time to complement the industrial characteristic of Stradivarius’s Cube stores.

During the quarter, Stradivarius also extended its store in Casa Fortuny in Villafranca del Penedés (Spain) and its premises in the Luz del Tajo and El Rosal shopping centres in Toledo and Ponferrada (Spain), respectively.

It is also worth highlighting the refurbishment work undertaken at the chain’s stores on Avenida de Viya in Cadiz (Spain) and in the Arcadia shopping centre in Warszawa (Poland).

Uterqüe continued to expand and renew its store network during the quarter, opening major stores in Moscow (Russia), Wroclaw (Poland) and Riad (Saudi Arabia). Uterqüe also entered new markets this year, including Romania for the first time. In parallel, the brand continued to execute on its plan to roll out its new store image to flagship stores such as the one located on calle Rodríguez Árias in Bilbao (Spain).

Commercial initiatives

The third quarter was once again marked by a plethora of commercial initiatives by all the chains. Zara collaborated with the prestigious photographer Steven Meisel on the images for Zara’s autumn/winter 17/18 women’s collection, inspired by all things British with a touch of the 90s, complete with classic pieces re-imagined for a feminine and sophisticated look. Zara also expanded the scope of its Join Life collections, launching men’s and baby ranges.

Massimo Dutti participated in the TMall platform’s Super Brand Day, creating a lookbook featuring the celebrity, Bosco Wong, and organising a catwalk fashion show.

Pull&Bear celebrated Marc Márquez’s victory in the MotoGP world championships by launching the second Marc Márquez X Pull&Bear collection, for which design the six-time world champion gets actively involved. This brand also launched its first complete line of women’s beauty products (eyeliners, eyeshadows, lip balms, face masks, nail polish, etc.) under the Hey Beauty! trademark.

Oysho went ahead with its Yoga Tour, organising events in Madrid and Istanbul in October. More than 3,000 people participated in the yoga master class given on Madrid’s Paseo del Prado.

The brand also launched its first ski collection, with premium finishes and performance fabrics. The ski jackets, made using a special waterproof, breathable fabric with added features hidden in the hood, are the star feature. The use of Thermolite® technology makes the more lightweight pieces warmer to wear.

Bershka launched its Misunderstood collection in collaboration with Italian singer Fedez, with 41 platinum and 20 gold releases under his belt. The collection, which went on sale on 6 October, and was available online and in select stores, drew from the retro 90s look and featured highly colourful garments inspired by the worlds of sports and tattoos. This partnership translated into a collection which represented the rap scene, as well as the brand’s youthful spirit.

Zarahome.com celebrated its tenth anniversary on 29 October and launched a their new image on Instagram. Uterqüe participated once again in the Gallery Weekend initiative which took place in Madrid from 14 – 16 September and in Barcelona during the weekend of 29 September – 1 October. The goal is to introduce the general public to contemporary art and promote the Madrid and Barcelona art scenes on the international stage. Uterqüe also extended its collaboration with the world of art by hosting exhibitions in its flagship store on Paseo de Gracia in Barcelona (Spain).

Sustainability

In line with its strategic goal to achieve a circular economy model, the Group continued to roll out its used-clothing collection programme in collaboration with various international NGOs. This programme is already fully operational in 562 stores in eight countries (Spain, Portugal, the UK, Ireland, Netherlands, Denmark, China and Sweden). Planning is in progress for implementation of the scheme in another 22 markets, with pilot tests underway in some of these, including Austria (four stores) and Canada (13 stores).

The Salta project

The Salta project, which is celebrating its tenth anniversary this year, was set up in France in 2008 – under the name of Jeunes [Youths] – with the aim of training and providing in-store work experience to people at risk of social exclusion due to serious difficulties in accessing the job market.

The chairman and CEO of Inditex, Pablo Isla, met with some of the ‘graduates’ of the programme to mark the occasion. The event was attended by members of the last group of participants and representatives from the prior 20 groups. To date the programme has helped 780 people to access work across the Group’s stores, factories and logistics centres; 67% of these youths are still working at the company and 7% have already been promoted internally.

Today the project is up and running in 12 cities under the name of Salta [Leap]: Barcelona, Madrid, Paris, Milan, Athens, Hamburg, Warsaw, London, Lisbon, Mexico City, São Paolo and New York.

Some 1,259 company employees have participated in the project as teachers, tutors or mentors. The endeavour has also boasted the participation of celebrities such as the French football side’s coach Raymond Domenech, the former cyclist Bernard Hinault, the mountain climber Edurne Pasaban, the painter Lita Cabellut and the dancer Nadia Adame, who shared their own experiences on how to overcame tough challenges. More than 40 charities have collaborated with the initiative, helping with the selection process, as well as training and subsequent monitoring of the participants once on the job.

‘for&from’ programme

Elsewhere, the Group has also continued to foster its ‘for&from’ programme this year, having opened a new ‘for&from’ Oysho store in Llagostera (Spain), which is being managed by the NGO, Moltacte. The new store is staffed with five people with different kinds of disabilities. With this newest establishment, there are now 13 stores within Inditex’s ‘for&from’ programme, which employs 151 people with different forms of disability.

Inditex, IndustriALL and the ILO

Inditex also celebrated another important tenth anniversary during the quarter: its Global Framework Agreement with IndustriALL Global Union, which represents over 50 million workers in 140 countries. During an event that took place at the Madrid head offices of the Economic and Social Council, the chairman and CEO of Inditex, Pablo Isla, and the general secretary of IndustriALL, Valter Sanches, reviewed the key progress made under this pioneering agreement, aimed to protect and promote labour conditions throughout the entire supply chain.

During his presentation, Pablo Isla stressed that the work performed together during the past decade “ratifies the Global Framework Agreement as one of the best tools for continuing to ensure and encourage best labour practices among the companies that supply the garment industry”. He noted that universal entitlement to the freedom of association and right to collective bargaining were the cornerstones of this effort.

Pablo Isla also met with the Director-General of the International Labour Organization (ILO), Guy Ryder, in October to review and reinforce the various projects for which the two entities are collaborating with the overriding aim of enhancing labour conditions at all levels of the garment sector value chain.

During the meeting, Pablo Isla emphasised “Inditex’s firm commitment to the ILO conventions, on which our Code of Conduct for Manufacturers and Suppliers is based, and to the United Nations Sustainable Development Goals, especially those related to decent work”. He went on to highlight the projects on which Inditex is already underway, in countries such as China, Turkey, Cambodia, Brazil and Indonesia.

Humanitarian aid

In November, Inditex renewed its agreements with Médecins Sans Frontières (MSF for its acronym in French), one of the key entities through which Inditex channels its concerted investment in humanitarian assistance.

Inditex has renewed its commitment to the medical and humanitarian relief work carried out by MSF with Syrian refugees in the Turkish province of Kilis and to the Emergency Desk operated from MSF’s headquarters in Spain. Thanks to this annual agreement, which consisted of a total contribution of €2.3 million, Inditex’s support will extend to the Al Salamah Hospital in the Azzaz district of the Syrian province of Aleppo. The collaboration also covers care for Rohingya refugees in Bangladesh and a programme for combating severe malnutrition in children in India.

The agreement was signed by Pablo Isla and the managing director of MSF Spain, Joan Tubau, at Inditex’s headquarters in Arteixo (La Coruña), at a ceremony also attended by the president of the medical-humanitarian organisation in Spain, David Noguera.

Fourth-quarter 2017 trading update

Online and offline store sales increased by 13% in local currency terms between 1 November and 11 December 2017.

SOURCE: Inditex

Communication and Corporate Affairs Division
Edificio Inditex
Avda. de la Diputación s/n
15143 – Arteixo
A Coruña – SPAIN

Tlf: +34 981 185 400
Fax: +34 981 185 544
comunicacion@inditex.com

Posted on December 13, 2017 by Retail News Editor

IKEA Group allocates $113 million into the retirement funds of 123,000 co-workers

Conshohocken, 2017-Dec-13 — /EPR Retail News/ — IKEA Group co-workers around the globe will receive a special thanks from the company as part of the IKEA Tack! retirement fund. IKEA recently announced that Tack!, which means ‘thank you’ in Swedish, will allocate $113 million* total into the retirement funds of 123,000 IKEA co-workers throughout its corporate, retail and distribution centers. For U.S. co-workers, each will receive $1,403 into their Tack! retirement fund.

“At IKEA, no matter where you work in our organization you are contributing to our success and continued growth. We believe it’s important to recognize our co-workers for their hard work and loyalty and celebrate our successes together,” said Lars Petersson, IKEA U.S. President. “Our contribution to each co-worker’s Tack! retirement fund is just one way we can show our gratitude and demonstrate our commitment to being a great place to work.”

The global funding is divided between all IKEA Group countries, based on each country’s proportion of the total salary and wages. Every co-worker gets the same amount regardless of position or salary, and part-time co-workers are rewarded in proportion to their hours worked. Tack! was introduced in 2013 and since then the IKEA Group has paid out $600 (€509) million globally.

IKEA U.S. has been recognized as an employer-of-choice for its outstanding co-worker benefits including parental leave policy and minimum wage structure. The company has recently received these awards: FORTUNE 2017, Best Companies to Work For; FORTUNE 2017, 50 Best Workplaces for Diversity; Glassdoor 2017 Best Places to Work; 2017 PEOPLE Companies that Care; Fatherly: The 50 Best Places to Work for New Dads in 2017; and three Glassdoor 2017 Awards: Best Places to Work, Highest Rated CEOs, Best Places to Interview.

About IKEA
Since its 1943 founding in Sweden, IKEA has offered home furnishings of good design and function at low prices so the majority of people can afford them. There are currently more than 392 IKEA stores in 48 countries, including 46 in the U.S. IKEA incorporates sustainability into day-to-day business and supports initiatives that benefit children and the environment. For more information see IKEA-USA.com, @IKEAUSANews, @IKEAUSA or IKEAUSA on Facebook, YouTube, Instagram and Pinterest.

*€96 million euro = $113 million U.S. dollars at a conversion of $1.18 to one euro ** The global funding is divided between all IKEA Group countries, based on each country’s proportion of the total salary and wages. The payout is dependent on the total results of IKEA Group during the previous financial year.

Contact:
IKEA U.S. Press Office
press.us@ikea.com
1-866-329-4532

Source: IKEA Group

Posted on December 12, 2017 by Retail News Editor

eBay Collective doubles its number of dealers and inventory

: eBay Collective doubles its number of dealers and inventory

Since launching in 2016, eBay Collective has doubled its number of dealers and inventory, providing shoppers with a one-of-a-kind selection of furniture, art, antiques and design.

San Jose, CA, 2017-Dec-12 — /EPR Retail News/ — Last Tuesday, an eclectic group of artists, designers, architects, collectors and art-world influencers kicked off the opening of Design Miami/ at a pig roast, cohosted by eBay Collective, R & Company and Cultured magazine in Miami Beach. eBay Collective’s Sam Bright, R & Company’s Zesty Meyers, and Cultured’s Sarah Harrelson toasted the occasion, which celebrated the opening of the international design show. Art world notables such as Simon Haas of the Haas Brothers, Art Basel magazine Editor in Chief Sue Hostetler, Design Miami CEO Jen Roberts, NY Times Art Editor Ted Loos and Elle Décor Editor in Chief Whitney Robinson were among the 250 guests in attendance.

eBay Collective launched in late 2016 and has continued to gain momentum, doubling the number of dealers and inventory, partnering with designers and generating a shoppable blog of related content. The platform provides a one-of-a-kind selection of furniture, art, antiques and design for eBay’s 171 million active buyers.

In the past few months, the platform welcomed such estimable dealers as R & Company, Michael Del Piero, French Art Deco Furniture, Inc. and Fred Silberman. All the dealers are showcased in the Dealer Directory, allowing users to Shop by Dealer.

In early October, eBay Collective teamed up with interior designer Brad Ford to present the opening night dinner of his Field + Supply fair in New York’s Hudson Valley. Brad Ford has also furnished the largest residential living room in New York, the One Hundred Barclay Penthouse, with furniture and décor from eBay Collective. Specifically, the design features inventory from such sought-after brands as Doris Leslie Blau, Bernd Goeckler, Maison Gerard, Todd Merrill, Newel, and R & Company.

For content, eBay Collective launched The Conversation Piece Design Journal, a blog populated with articles and video features by Architectural Digest, providing a shoppable guide with designer profiles, trend stories and featured properties.

About the new dealers:

R & Company represents a distinguished group of historical and contemporary designers whose work is among the most innovative and finely crafted of their time. It was founded by Zesty Meyers and Evan Snyderman in 1997 to realize their combined goal of promoting a closer study, appreciation and preservation of 20th and 21st century design.

Michael Del Piero founded Michael Del Piero Good Design in 2007 based on three simple principals: Strive for balance. Create interiors as current as they are enduring, as sophisticated as they are approachable, and as unusual as they are beautiful. And take care of clients as if they are royalty, serving their needs and lifestyles above all else.

David Hugon is the owner and founder of French Art Deco Furniture Inc. David started in the Art Deco business over 25 years ago. David is the premier Direct Importer of all types of French Art Deco furnishings into the USA. Davids extensive reach directly to the best French sources allows him to offer the highest quality items sourced from Hotels, Chateaus, Private Estates. He often travels directly to France to personally acquire his treasures and offer them at a sharply reduced wholesale price.

Fred Silberman Antiques began collecting and dealing 20th century Italian furniture and decorative arts nearly 50 years ago. Purely out of his interest in the history and craftsmanship, Fred Silberman’s business reflects an understanding and deep appreciation for the art form and as he says, “nobody else was doing it.” The result is a uniquely curated inventory of Italian furniture and decorative arts. Naturally, none of the pieces were mass-produced, they are bought from previous owners, or acquired over the years from fellow collectors.

About eBay Collective:

eBay Collective takes the hassle out of searching by bringing together a single, curated experience of unique, high-quality items. eBay has always been known for uniqueness and selection. eBay Collective provides a premium experience bringing together antiques and collectables. The site offers a cutting edge interface, using eBay’s Corrigon acquisition for its “Shop the Look” technology which allows shoppers to match inventory with other featured items. eBay Collective also leverages eBay’s core commerce platform for check-out, providing a familiar and trusted process for buyers worldwide.

Highlights of five unique items currently available on eBay Collective:

Set of 16 American 1940s (F. Lloyd Wright Design) Geometric Form Dining Chairs

Achille Salvagni, Tango Console, 2014

Babacar Niang, Senegal, 2014 Sculptural “Etawen” carved African hardwood shelf

Jules Leleu, Meuble Feu d’Artifices, c. 1946

Bubble Chandelier by Simone Crestani (b. 1984) Italy, 2012

Contact:
(408) 376-7400
press@ ebay.com

Source: eBay

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Posted on December 12, 2017 by Retail News Editor

Overstock.com takes ParityPledge to improve opportunity for advancement of women into leadership positions

The ParityPledge aims to bring gender equality to the highest levels of business

SALT LAKE CITY, 2017-Dec-12 — /EPR Retail News/ — Overstock.com, Inc. (NASDAQ:OSTK) and its blockchain subsidiary, Medici Ventures, announce they have taken the ParityPledge to increase their commitment to improving the opportunity for advancement of women into leadership positions. By taking the ParityPledge, Overstock and Medici Ventures have committed to interview at least one qualified female candidate for every open executive position, vice president and above, including the C-suite and board of directors.

The ParityPledge is an initiative of Parity.org, a non-profit organization focused on decreasing the amount of gender inequality within businesses. It was founded to correct the blunt reality of gender disparity at the top of companies today, with women representing only 20 percent of S&P 500 corporate executive teams and boards.

“We’re proud to take the ParityPledge to help further our commitment to equal representation of women at the leadership level,” said Meghan Tuohig, Overstock’s vice president of people care. “ParityPledge is a great external compliment to the internal work we have started with the Overstock Women’s Network, which is aimed at providing opportunities for career growth and advancement for our female associates.”

The Overstock Women’s Network was founded by Tuohig in 2017, and uses programming and education for all associates, regardless of gender, to inspire, support, and celebrate females in Overstock’s professional community.

“The most effective teams tend to have diversity amongst their members, bringing different viewpoints and experiences to the table when finding solutions for difficult problems,” said Overstock.com President Saum Noursalehi. “Taking the ParityPledge reaffirms Overstock’s commitment to diversity, and to finding and promoting the best possible talent.”

“We are thankful for organizations like Overstock.com and Medici Ventures that are willing to become role models for change,” said Cathrin Stickney, Parity.org founder and CEO. “We believe their public commitment and example will help us realize exponential progress toward reaching parity at the top.”

“As the technological community in Utah continues to grow, groups like Parity.org and the ParityPledge will help ensure our community grows in a way that is welcoming and empowering for women,” said Jonathan Johnson, Medici Ventures president and Silicon Slopes board member. “Medici Ventures supports this effort that will have a positive impact on so many talented members of the Utahbusiness community.”

Parity.org is scheduled to announce the full list of founding companies, sponsors, and partners during the Silicon Slopes conference in January 2018.

About Overstock.com

About Medici Ventures:

Launched in 2014, Medici Ventures is a wholly owned subsidiary of Overstock.com, Inc., created to leverage blockchain technology to solve real-world problems with transparent, efficient and secure solutions. Medici Ventures has a growing portfolio of groundbreaking blockchain-focused investments, including tZERO.com, Peernova, Bitt, SettleMint, Factom, and IdentityMind, Spera and Symbiont. The company’s majority-owned financial technology company, tZERO.com, executed the world’s first blockchain-based stock offering in December 2016.

About Parity.org

Parity.org is a 501(c)(3) non-profit organization dedicated to gender equality at the highest ranks of business leadership. Parity.org is assembling a founding advisory board of some of the most recognized men and women leaders in business. The Parity.org URL was generously donated by The Kennedy Forum. You can follow Parity.org on Facebook, LinkedIn and Twitter.

Media Contact:
pr@overstock.com

Investor Contact:
ir@overstock.com

Source: Overstock.com, Inc./globenewswire

Posted on December 7, 2017 by Retail News Editor

Lowe’s announces the appointment of Sylvain Prud’homme as president, international

Prud’homme also retains role as President and CEO of Lowe’s Canada

Mooresville, N.C., 2017-Dec-07 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) today (12/06/2017) announced that Sylvain Prud’homme has been appointed president, international, effective Dec. 15. He will report to Chairman, President & CEO Robert A. Niblock and will remain based in Boucherville, Quebec. Prud’homme will continue to serve as president and CEO of Lowe’s Canada and add responsibilities for the Mexico business, with the president of Lowe’s Mexico now reporting to him. This appointment follows the announcement that Richard D. Maltsbarger will be transitioning to chief operating officer of the U.S. business in February.

“Sylvain’s outstanding operational leadership has been instrumental in growing the company into one of the leading home improvement retailers in Canada,” said Niblock. “We continue to be pleased with the integration of RONA and believe we are well positioned for continued success in Canada.”

Niblock added, “Sylvain has more than three decades of experience in the retail industry and we feel confident that he will continue to drive operational excellence for our operations in Canada and Mexico.”

Prud’homme joined as president of Lowe’s Canada in 2013 and, following the acquisition of RONA in 2016, was named president and CEO of Lowe’s Canada. He is responsible for driving the Canadian home improvement business for Lowe’s, including RONA’s network of stores and independent dealers operating under other banners.

“I’m honored to lead strong leadership teams in both Canada and Mexico and continue building on the positive momentum and growth in these operations over the past several years,” said Prud’homme.

Prior to Lowe’s Canada, Prud’homme served as executive vice president of operations and merchandising for Loblaw Companies Limited. He was also president of western operations for Sobeys Inc. and spent several years as senior vice president of operations and merchandising for Walmart Canada.

Prud’homme earned an MBA from the HEC Montreal business school. He is a member of the board of directors for the Retail Council of Canada.

About Lowe’s
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 17 million customers a week in the United States, Canada and Mexico. With fiscal year 2016 sales of $65.0 billion, Lowe’s and its related businesses operate or service more than 2,370 home improvement and hardware stores and employ over 290,000 people. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

Canada Media Inqueries:

Valérie Gonzalo
Media Relations
Lowe’s Canada – RONA
514.626.6976
media@rona.ca

Shareholders’/Analysts’ Inquiries:

Tiffany Mason
Lowe’s Companies, Inc.
704-758-2033
tiffany.l.mason@lowes.com

Source: Lowe’s Companies, Inc.

Posted on December 7, 2017 by Retail News Editor

Web Marketing Association names Overstock.com’s mobile app the Best Retail Mobile Application of 2017

Sixth consecutive year winning Web Marketing Association’s Mobile Web Award

SALT LAKE CITY, 2017-Dec-07 — /EPR Retail News/ — For the sixth consecutive year, the Web Marketing Association has named Overstock.com (NASDAQ:OSTK) a Mobile Web Award winner, honoring the retailer’s mobile app as the Best Retail Mobile Application of 2017. The leading online home retailer’s iOS app was recognized for its many innovative and intuitive features, including its recently-added augmented reality (AR) feature.

The Web Marketing Association holds the Best Mobile Application awards as part of the annual Mobile Web Award Competition, which is the first and only industry-based award competition focusing solely on responsive mobile web and application development. Judging for the award focuses on outstanding achievement in mobile development while recognizing growth and creativity in the mobile application space.

“We’re proud that our mobile apps are continuing to lead development within the retail space,” said Amit Goyal, Overstock’s senior vice president of software development. “Customers using our apps have the full assortment and convenience of shopping on Overstock at their fingertips, helping to create a personalized and stress-free shopping experience.”

Overstock’s shopping app also received recognition in 2017 after introducing AR to the iOS version with September’s iOS 11 update. Customers can use AR within the app to view thousands of true-to-life-size 3D models in their own room, helping them to see exactly how products will fit in the space or match their existing style. This technology is changing the way consumers design their homes and purchase home goods.

Holiday shoppers can use Overstock’s app to help them find the missing piece for hosting a perfect holiday event, or the perfect gift for a friend or loved one. Overstock will also help customers ensure their orders arrive in time for the holidays by providing clearly messaged shipping timeframes on product pages.

The ground-shipping cutoff date for customers to receive their purchases by Christmas is December 15, with expedited and overnight shipping options available for last-minute needs.

Media Contact:
Mark Delcorps
Overstock.com, Inc.
+1 (801) 947-3564
pr@overstock.com

Investor Contact:
ir@overstock.com

SOURCE: Overstock.com, Inc./globenewswire

Posted on December 7, 2017 by Retail News Editor

Macy’s declares Friday, Dec. 8 as National Believe Day; doubles its donation to Make-A-Wish and Wishes Across America

: Macy’s declares Friday, Dec. 8 as National Believe Day; doubles its donation to Make-A-Wish and Wishes Across America

NEW YORK, 2017-Dec-07 — /EPR Retail News/ — As part of its 10th annual Believe campaign, Macy’s has declared this Friday, Dec. 8, National Believe Day – a day focused on spreading the beloved holiday program’s message of generosity and hope. Throughout the Believe campaign, Macy’s collects customers’ letters to Santa in-store and online at macys.com/believe. For each letter submitted from Nov. 3 through Dec. 24, Macy’s has pledged to donate $1, up to $1 million, to Make-A-Wish® to help grant the wishes of children with critical illnesses. In celebration of the ninth annual National Believe Day, Macy’s will again double its donation to Make-A-Wish, providing an additional $1per letter, up to an extra $1 million, above the existing $1 million campaign goal. Additionally, this week Macy’s will help grant special wishes for children in cities from coast-to-coast as part of Wishes Across America.

Macy’s and Make-A-Wish® celebrate Brynn, 17, at a Wishes Across America event as part of Macy’s 10th annual Believe campaign, in Salt Lake City on Tuesday, Dec. 5, 2017. (Douglas Barnes/AP Images for Macy’s)

“Each National Believe Day, we are awed by the outpouring of support from our customers who submit their Santa letters to help Macy’s double its donation to Make-A-Wish,” said Holly Thomas, group vice president of Cause Marketing for Macy’s. “We are also especially thankful to our employees, partners at Make-A-Wish and community members nationwide who spend countless hours planning and granting special Wishes Across America. The spirit of the Believe campaign truly comes alive as we all work together to create these joyful and magical moments.”

Macy’s has donated more than $15 million to Make-A-Wish and helped to grant thousands of wishes through Believe since the campaign was introduced in 2008. This year’s Wishes Across America will benefit children including Brynn, 17, who wishes to be a model, and Jazlean, 13, who wishes to go to New York. The impact of wishes is undeniable and widespread – not only do they increase hope and happiness for kids, but their families, volunteers, supporters, medical professionals, and entire communities are transformed by the experience.

National Believe Day is the pinnacle moment of the Believe campaign, which was inspired by the true story of Virginia O’Hanlon – an 8-year-old child who wrote a letter to the New York Sun newspaper in 1897 asking if there really was a Santa Claus. The response from the paper’s editor, Francis P. Church, became an iconic piece of journalistic history and the most reprinted editorial of all time. “Yes, Virginia, there is a Santa Claus,” Church wrote. “He exists as certainly as love and generosity and devotion exist.”

To learn more about Macy’s Believe campaign, visit macys.com/believe. For additional media materials, including images and b-roll, visit pimsmultimedia.com/macys-holiday2017/believe.php

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 Make-A-Wish

Make-A-Wish grants the wishes of children with life-threatening medical conditions to enrich the human experience with hope, strength and joy. According to a 2011 U.S. study of wish impact, most health professionals surveyed believe a wish-come-true has positive impacts on the health of children. Kids say wishes give them renewed strength to fight their illness, and their parents say these experiences help strengthen the entire family. Headquartered in Phoenix, Make-A-Wish is one of the world’s leading children’s charities, serving children in every community in the United States and its territories. With the help of generous donors and more than 33,000 volunteers, Make-A-Wish grants a wish somewhere in the country every 34 minutes. It has granted more than 300,000 wishes since its inception in 1980; more than 15,300 in 2016 alone. Visit Make-A-Wish at www.wish.org to learn more.

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

Source: Macy’s

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Posted on December 4, 2017 by Retail News Editor

Macy’s to hire an additional 7,000 seasonal associates for 2017 Christmas and holiday season

CINCINNATI, 2017-Dec-04 — /EPR Retail News/ — Macy’s, Inc. (NYSE:M) today (Dec. 1, 2017) announced plans to hire an additional 7,000 seasonal associates for positions at its Macy’s stores nationwide for the 2017 Christmas and holiday season.

To discover open positions and opportunities for on-site interviews, candidates should apply in advance at macysJOBS.com. Positions in all stores nationwide are searchable on the easy-to-navigate hiring sites. Candidates who submit applications online will receive a response via email.

“Macy’s has had a great start to this holiday season with high customer volume across our business. Due to the strong traffic in our stores, we are adding associates in our stores across the country to ensure that customers continue to receive the high level of service they have come to expect from us,” said John Harper, Macy’s chief stores officer. “We are excited to be further expanding our seasonal workforce. Seasonal workers play an important role in the Macy’s holiday shopping experience and, in addition to a competitive hourly income, they will experience a flexible working environment and benefit from a merchandise discount.”

Seasonal store associates at Macy’s serve customers on the selling floor and work in store operations positions, including fulfilling buy online, pick-up-in-store orders. Most seasonal positions are part-time, often with flexibility to fit the availability of the individuals hired.

About Macy’s, Inc.

Macy’s, Inc. is one of the nation’s premier retailers. With fiscal 2016 sales of $25.778 billion and approximately 140,000 employees, the company operates more than 700 department stores under the nameplates Macy’s and Bloomingdale’s, and approximately 160 specialty stores that include Bloomingdale’s The Outlet, Bluemercury and Macy’s Backstage. Macy’s, Inc. operates stores in 45 states, the District of Columbia, Guam and Puerto Rico, as well as macys.com, bloomingdales.com and bluemercury.com. Bloomingdale’s stores in Dubai and Kuwait are operated by Al Tayer Group LLC under license agreements. Macy’s, Inc. has corporate offices in Cincinnati, Ohio, and New York, New York.

Media:
Blair Fasbender Rosenberg
646-429-6032
media@macys.com

Investors:
Monica Koehler
513-579-7780
investors@macys.com

Source: Macy’s, Inc.

Posted on December 4, 2017 by Retail News Editor

The Michaels Companies 3Q 2017 financial results: Total net sales increased 1.1

Comparable store sales increased 1.0%, including the negative impact of approximately 80 basis points related to lost sales from hurricanes
Operating income of $153.9 million
Diluted EPS of $0.44, including the negative impact of approximately $0.01 related to hurricanes

IRVING, Texas, 2017-Dec-04 — /EPR Retail News/ — The Michaels Companies, Inc. (NASDAQ: MIK) today (2017-11-30) announced financial results for the third quarter ended October 28, 2017.

“We are pleased we delivered third quarter operating income in-line with our guidance and diluted EPS above our guidance. We are seeing nice momentum in our business, excluding the disruption from the hurricanes, and we are encouraged by the customer’s response to the improvements we have made, both in-stores and online, to make it easier for customers to MAKE,” said Chuck Rubin, Chairman and Chief Executive Officer. “As we turn to the fourth quarter, we believe our holiday assortment is bigger and better than ever, and our teams are ready to serve customers, both in stores and online. We are pleased with the start to the quarter, although we recognize the heart of the season still lies ahead. We are excited about our plans, and we are confident the investments we’ve made to create an easier, more integrated omnichannel experience will drive continued momentum and deliver stronger financial results.”

Third Quarter Highlights

Net sales increased 1.1% to $1,240.2 million, from $1,227.2 million in the third quarter of fiscal 2016, inclusive of an estimated $10 million in lost sales related to Hurricanes Harvey and Irma. The increase in net sales was primarily a result of a 1.0% increase in comparable store sales (0.5% on a constant currency basis), and sales from the operation of 16 new Michaels stores (net of closures) in fiscal 2017. As expected, this increase was partially offset by lower wholesale revenues.
Gross profit increased 3.8% to $484.1 million, from $466.6 million in the third quarter of fiscal 2016. As a percentage of net sales, gross profit increased 100 basis points to 39.0% compared to 38.0% in the third quarter of fiscal 2016. The increase, as a percentage of net sales, was due to higher merchandise margin resulting from our ongoing sourcing initiatives, the timing of distribution-related costs and the comparison against $0.7 million of net non-recurring, inventory-related purchase accounting adjustments recorded in the third quarter of fiscal 2016 related to the acquisition of Lamrite West. These benefits were partially offset by higher inventory shrinkage.
Selling, general and administrative expense, including store pre-opening costs, (“SG&A”) increased 3.1% to $330.3 million, or 26.6% of sales, from $320.3 million, or 26.1% of sales, in the third quarter of fiscal 2016. The increase in SG&A was primarily due to an increase in incentive-based compensation, marketing expenses and healthcare expenses. The increase was partially offset by a comparison against $1.6 million of net non-recurring integration expenses recorded in the third quarter of fiscal 2016 related to the acquisition of Lamrite West.
Operating income increased 5.1% to $153.9 million, or 12.4% of sales, compared to $146.3 million, or 11.9% of sales, in the third quarter of fiscal 2016. Excluding net non-recurring, inventory-related purchase accounting adjustments and integration expenses associated with the acquisition of Lamrite West, adjusted operating income for the third quarter of fiscal 2016 was $148.6 million.
Interest expense increased $1.3 million to $32.8 million, from $31.5 million in the third quarter of fiscal 2016 primarily due to higher interest rates on the Company’s variable rate asset-based revolving credit facility and term loan credit facility.
The effective tax rate was 34.3% for the third quarter of fiscal 2017, compared to 29.0% for the third quarter of fiscal 2016. The higher effective tax rate was primarily due to certain federal tax credits recognized in the third quarter of fiscal 2016 and an increase in state taxes, partially offset by benefits realized from the Company’s direct sourcing initiatives.
Net income increased 4.3% to $79.8 million, compared to $76.5 million in the third quarter of fiscal 2016. Excluding net non-recurring, inventory-related purchase accounting adjustments, integration expenses associated with the acquisition of Lamrite West, and losses on early extinguishment of debt and refinancing costs, less related tax adjustments, adjusted net income for the third quarter of fiscal 2016 was $82.1 million.
Diluted earnings per share increased 18.9% to $0.44, from $0.37 in the third quarter of fiscal 2016. Diluted weighted-average common shares outstanding for the quarter were 182.0 million compared with 205.3 million in the third quarter of fiscal 2016. Excluding net non-recurring, inventory-related purchase accounting adjustments, integration expenses associated with the acquisition of Lamrite West, and losses on early extinguishment of debt and refinancing costs, less related tax adjustments, adjusted diluted earnings per share in the third quarter of fiscal 2016 was $0.40.
During the third quarter of fiscal 2017, the Company opened eight new Michaels stores and one new Pat Catan’s store. The Company also closed one Michaels store and three Aaron Brothers stores during the quarter. In the third quarter of fiscal 2016, the Company opened 14 new Michaels stores and closed two Michaels stores. At the end of the third quarter, the Company operated 1,237 Michaels stores, 98 Aaron Brothers stores, and 36 Pat Catan’s stores.
The Company ended the third quarter of fiscal 2017 with $176.8 million in cash, $2.9 billion in total debt and $675.7 million in availability under its asset-based revolving credit facility.
Total merchandise inventory at the end of the third quarter was $1,404.2 million compared to $1,394.1 million in the third quarter of fiscal 2016. Average Michaels inventory on a per store basis, inclusive of distribution centers, in transit and inventory for the Company’s e-commerce site, decreased 1.2% to $1,028,000, compared to $1,040,000 at the end of the third quarter of fiscal 2016.
During the quarter, the Company purchased 2.4 million shares, or $48.6 million, under its share repurchase authorization. The total remaining authorization for future repurchases is approximately $350.0 million. The share repurchase program does not have an expiration date, and the timing and number of repurchase transactions under the program will depend on market conditions, corporate considerations, debt agreements, and regulatory requirements.

Fourth Quarter and Fiscal Year 2017 Outlook:

For fiscal 2017, a 53-week year, the Company expects:

total net sales growth of 2.9% to 3.2%, or 2.7% to 3.0% on a constant currency basis, including the impact of the 53rd week, which is planned to be approximately $80 million;
comparable store sales to increase 0.6% to 0.9%, or 0.4% to 0.7% on a constant currency basis;
to open 18 new stores, including 17 new Michaels stores and one new Pat Catan’s store; relocate 12 Michaels stores; and close 17 stores, including 15 Aaron Brothers stores and two Michaels stores;
operating income to be in the range of $735 million to $745 million;
interest expense to be approximately $130 million;
the effective tax rate to be between 34% and 35%;
diluted earnings per common share to be between $2.13 and $2.16, based on diluted weighted average common shares of approximately 186 million; and
capital expenditures to be approximately $120 million.

The outlook for fiscal 2017 includes approximately $0.01 of favorable earnings per share impact related to 2.4 million shares repurchased in the third quarter of fiscal 2017 and approximately $0.01 of favorable earnings per share impact related to a stronger Canadian Dollar. The Company now expects the Canadian exchange rate will average $1.29 for the full year.

For the fourth quarter of fiscal 2017, the Company expects:

comparable store sales to increase 1.5% to 2.5%, or 1.0% to 2.0% on a constant currency basis;
to open one new Michaels store and close four Aaron Brothers stores;
operating income to be between $354 million and $364 million;
interest expense to be approximately $35 million;
the effective tax rate to be between 34% and 35%; and
diluted earnings per common share to be between $1.15 and $1.18, based on diluted weighted average common shares of 182 million.

Conference Call Information

A conference call to discuss third quarter financial results is scheduled for today, November 30, 2017, at 8:00 a.m. Central Time. Investors who would like to join the conference call are encouraged to pre-register for the conference call using the following link: http://dpregister.com/10113759. Callers who pre-register will be given a phone number and a unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the call start time.

Investors without internet access or who are unable to pre-register can join the call by dialing (844) 340-4762 or (412) 717-9617.

The conference call will also be webcast at http://investors.michaels.com/. To listen to the live call, please go to the website at least 15 minutes before the call is scheduled to begin to register and download any necessary audio software. The webcast will be accessible for 30 days after the call. Additionally, a telephone replay will be available until December 14, 2017, by dialing (877) 344-7529 or (412) 317-0088, access code 10113759.

Non-GAAP Information

This press release includes non-GAAP measures including operating income excluding net non-recurring, inventory-related purchase accounting adjustments and integration expenses associated with the acquisition of Lamrite West (“Adjusted operating income”); net income excluding net non-recurring, inventory-related purchase accounting adjustments and integration expenses associated with the acquisition of Lamrite West and losses on early extinguishment of debt and refinancing costs, less related tax adjustments, (“Adjusted net income”); and diluted earnings per share excluding net non-recurring, inventory-related purchase accounting adjustments and integration expenses associated with the acquisition of Lamrite West and losses on early extinguishment of debt and refinancing costs, less related tax adjustments (“Adjusted diluted earnings per share”). The Company has reconciled these non-GAAP financial measures with the most directly comparable GAAP financial measures in a table accompanying this release. The Company believes that these non-GAAP financial measures not only provide its management with comparable financial data for internal financial analysis but also provide meaningful supplemental information to investors. Specifically, these non-GAAP financial measures allow investors to better understand the performance of the Company’s business and facilitate a meaningful evaluation of its quarterly and fiscal 2017 diluted earnings per common share and actual results on a comparable basis with its quarterly and fiscal 2016 results.

In evaluating these non-GAAP financial measures, investors should be aware that in the future the Company may incur expenses or be involved in transactions that are the same as or similar to some of the adjustments in this presentation. The Company’s presentation of non-GAAP financial measures should not be construed to imply that its future results will be unaffected by any such adjustments. The Company has provided this information as a means to evaluate the results of its ongoing operations. Other companies in the Company’s industry may calculate these items differently than it does. Each of these measures is not a measure of performance under GAAP and should not be considered as a substitute for the most directly comparable financial measures prepared in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company’s results as reported under GAAP.

Forward-Looking Statements

This news release includes forward-looking statements which reflect management’s current views and estimates regarding the Company’s industry, business strategy, goals, and expectations concerning its market position, future operations, margins, profitability, capital expenditures, share repurchases, liquidity and capital resources, and other financial and operating information. The words “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “imply,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” and similar terms and phrases are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company cannot assure investors that future developments affecting the Company will be those that it has anticipated. Actual results may differ materially from these expectations due to risks relating to the effect of economic uncertainty; substantial changes to fiscal and tax policies; our reliance on foreign suppliers; regulatory changes; the seasonality of our business; changes in customer demand; damage to the reputation of the Michaels brand or our private and exclusive brands; unexpected or unfavorable consumer responses to our promotional or merchandising programs; our failure to adequately maintain security and prevent unauthorized access to electronic and other confidential information; increased competition including internet-based competition from other retailers; and other risks and uncertainties including those identified under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), which is available at www.sec.gov, and other filings that the Company may make with the SEC in the future. If one or more of these risks or uncertainties materialize, or if any of the Company’s assumptions prove incorrect, the Company’s actual results may vary in material respects from those projected in these forward-looking statements. Any forward-looking statement made by the Company in this news release speaks only as of the date on which the Company makes it. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company does not undertake and specifically disclaims any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

About The Michaels Companies, Inc.:

A Fortune 500® Company, The Michaels Companies, Inc. is North America’s largest specialty provider of arts, crafts, framing, floral, wall décor, and seasonal merchandise for Makers and do-it-yourself home decorators.

As of October 28, 2017, the Company owned and operated 1,371 stores in 49 states and Canada under the brands Michaels, Aaron Brothers and Pat Catan’s. The Michaels Companies, Inc., also owns Artistree, a manufacturer of high quality custom and specialty framing merchandise, and Darice, a premier wholesale distributor in the craft, gift and decor industry. The Michaels Companies, Inc. produces a number of private brands including Recollections®, Studio Decor®, Bead Landing®, Creatology®, Ashland®, Celebrate It®, ArtMinds®, Artist’s Loft®, Craft Smart®, Loops & Threads®, Make Market®, Foamies®, LockerLookz®, Imagin8®, and Sticky Sticks®. Learn more about Michaels at www.michaels.com.

Investor Contact:
Kiley F. Rawlins
CFA
972-409-7404
Kiley.Rawlins@michaels.com

ICR, Inc.
Farah Soi
CFA
203-682-8200
Farah.Soi@icrinc.com

Caitlin Morahan
203-682-8200
Caitlin.Morahan@icrinc.com

Financial Media Contact:
ICR, Inc.
Jessica Liddell/ Julia Young
203-682-8200
Michaels@icrinc.com

Source: The Michaels Companies, Inc.

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