Lowe’s reports net earnings of $602 million and diluted earnings per share of $0.70 for 1Q 2017

MOORESVILLE, N.C., 2017-May-27 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) today (May 24, 2017) reported net earnings of $602 million and diluted earnings per share of $0.70 for the quarter ended May 5, 2017, compared to net earnings of $884 million and diluted earnings per share of $0.98 in the first quarter of 2016.

The first quarter results included a $464 million pre-tax loss on extinguishment of debt in connection with the company’s previously announced $1.6 billion cash tender offer.

Excluding the loss on extinguishment of debt, adjusted diluted earnings per share1 increased 18.4 percent to $1.03 from adjusted diluted earnings per share1 of $0.87 in the first quarter of 2016.

Sales for the first quarter increased 10.7 percent to $16.9 billion from $15.2 billion in the first quarter of 2016, and comparable sales increased 1.9 percent. Comparable sales for the U.S. business increased 2.0 percent.

“A solid macroeconomic backdrop, combined with our project expertise, drove above average performance in indoor projects. We also continued to advance our sales to Pro customers, delivering another quarter of comparable sales growth well above the company average,” commented Robert A. Niblock, Lowe’s chairman, president and CEO.

“Our employees are the foundation of our business and I would like to thank them for their hard work and commitment to anticipating and serving customer needs,” Niblock added.

Delivering on its commitment to return excess cash to shareholders, the company repurchased $1.2 billion of stock under its share repurchase program and paid $304 million in dividends in the first quarter.

As of May 5, 2017, Lowe’s operated 2,137 home improvement and hardware stores in the United States, Canada and Mexico representing 213.8 million square feet of retail selling space.

1 Adjusted diluted earnings per share is a non-GAAP financial measure. Refer to the “Non-GAAP Financial Measures Reconciliation” section of this release for additional information as well as reconciliations between the Company’s GAAP and non-GAAP financial results.

A conference call to discuss first quarter 2017 operating results is scheduled for today (Wednesday, May 24) at 9:00 am ET.  The conference call will be available by webcast and can be accessed by visiting Lowe’s website at www.Lowes.com/investor and clicking on Lowe’s First Quarter 2017 Earnings Conference Call Webcast.  Supplemental slides will be available fifteen minutes prior to the start of the conference call. A replay of the call will be archived on Lowes.com/investor until August 22, 2017.

Lowe’s Business Outlook

The company reaffirms its operating outlook for Fiscal Year 2017; however, diluted earnings per share have been updated to reflect the loss on extinguishment of debt and resulting lower interest expense.

Fiscal Year 2017 — a 52-week Year (comparisons to fiscal year 2016 — a 53-week year; based on U.S. GAAP)

  • Total sales are expected to increase approximately 5 percent
  • Comparable sales are expected to increase approximately 3.5 percent
  • The company expects to add approximately 35 home improvement and hardware stores.
  • Operating income as a percentage of sales (operating margin) is expected to increase approximately 120 basis points. 2
  • The effective income tax rate is expected to be approximately 37.8%.
  • Diluted earnings per share of approximately $4.30 are expected for the fiscal year ending February 2, 2018; reflective of the loss on extinguishment of debt and resulting lower interest expense.

2 Includes the 12 basis points benefit of the net gain on the settlement of the foreign currency hedge entered into in advance of the company’s acquisition of RONA (1Q 2016 and 2Q 2016), the 44 basis points impact of the non-cash charge associated with the joint venture with Woolworths in Australia (3Q 2016), the 15 basis points impact of project write-offs that were a part of the ongoing review of the company’s strategic initiatives (3Q 2016), the 12 basis points impact of goodwill and long-lived asset impairment charges associated with the company’s Orchard Supply Hardware operations (3Q 2016), as well as the 13 basis points impact of severance-related costs associated with the company’s productivity efforts (4Q 2016).

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 traditional 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.

Lowe’s Companies, Inc.

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.

Media Inquiries:

704-758-2917
PublicRelations@Lowes.co

SOURCE: Lowe’s Companies, Inc.

Kingfisher reports sales of £2.9 billion during 1Q 2017

  • Q1 LFL down 0.6% reflecting continued weaker sales in France and some business disruption from our ONE Kingfisher plan
  • Remain on track to deliver Year 2 strategic milestones
  • Returned further £79m (23m shares) year to date via share buyback of previously announced c.£600m capital return(3)

LONDON, 2017-May-24 — /EPR Retail News/ —

Véronique Laury, Chief Executive Officer, said: “We have set ourselves up well for our transformation, which continues in line with our plans. Strong performance in Screwfix and Poland continues, though performance in France remains weak. In addition, we are experiencing some business disruption given the volume of change, as we clear old ranges, remerchandise new ranges and continue the roll out of our unified IT platform.

“However, we are on track to deliver our Year 2 strategic milestones. Early customer reaction to our new ranges is encouraging, especially in France where our new unique bathroom ranges are launching first. We are also progressing well with our IT platform, which is now live in nearly a third of our Castorama France stores and which will enable us to build a much stronger digital offer.

“We remain confident in the size of the prize and our ability to deliver our long term plan, both the financial benefits of the transformation and the benefits to customers, supported by the continued expertise and energy of our colleagues.”

Q1 trading highlights by division (in constant currencies)

UK & IRELAND

  • Total sales +1.4%. LFL +3.5% reflecting continued strong Screwfix performance and modest price inflation
    • B&Q UK & Ireland sales -4.6% reflecting annualisation of completed store closure programme. LFL +0.5% including benefit from sales transference associated with store closures(4) and strong digital growth (+31%). LFL of seasonal +17.5%. LFL of non-seasonal, including showroom -3.9%
    • Screwfix sales up +20.3% (LFL +12.6%) driven by its leading digital capability, new and extended ranges and new outlets

FRANCE

  • Total sales -5.0% (LFL -5.5%). Sales for the home improvement market (Banque de France data(5)) were down c.1% in Q1
    • Castorama sales -4.0% (LFL -4.3%). LFL of seasonal +3.3%. LFL of non-seasonal, including showroom -6.9%
    • Brico Dépôt sales -6.2% (LFL -6.8%)

OTHER INTERNATIONAL

  • Total sales in Poland +5.7% (LFL +3.5%) benefiting from a supportive market. LFL of seasonal -5.9%. LFL of non-seasonal, including showroom +5.2%

Footnotes

(1) Like-for-like sales growth representing the constant currency, year on year sales growth for stores that have been open for more than a year
(2) Brico Dépôt Romania, Brico Dépôt Portugal and Screwfix Germany
(3) Through to end of FY 2018/19 (over and above the annual ordinary dividend); now returned £279m of the c.£600m
(4) c.1% LFL sales transference benefit from B&Q store closures remains full year guidance
(5) Includes relocated and extended stores http://webstat.banque-france.fr/en/browse.do?node=5384326

This announcement can be downloaded from www.kingfisher.com or viewed on the Kingfisher IR iPad App. Data tables for Q1 2017/18 are available for download in excel format at http://www.kingfisher.com/index.asp?pageid=59
Our next announcement will be the Q2 sales update on 17 August 2017.

We can be followed on Twitter @kingfisherplc with the Q1 results tag #KGFQ1. Kingfisher American Depository Receipts are traded in the US on the OTCQX platform:(OTCQX: KGFHY) http://www.otcmarkets.com/stock/KGFHY/quote

Forward-looking statements

You are not to construe the content of this announcement as investment, legal or tax advice and you should make your own evaluation of the Company and the market.  If you are in any doubt about the contents of this announcement or the action you should take, you should consult a person authorised under the Financial Services and Markets Act 2000 (as amended) (or if you are a person outside the UK, otherwise duly qualified in your jurisdiction).

This announcement has been prepared in relation to the financial results for the Quarter ended 30 April 2017. The financial information referenced in this announcement is not audited and does not contain sufficient detail to allow a full understanding of the results of the group.  Nothing in this announcement should be construed as either an offer or invitation to sell or any offering of securities or any invitation or inducement to any person to underwrite, subscribe for or otherwise acquire securities in any company within the group or an invitation or inducement to engage in investment activity under section 21 of the Financial Services and Markets Act 2000 (as amended).

Certain information contained in this announcement may constitute “forward-looking statements” (including within the meaning of the safe harbour provisions of the United States Private Securities Litigation Reform Act of 1995), which can be identified by the use of terms such as “may”, “will”, “would”, “could”, “should”, “expect”, “anticipate”, “project”, “estimate”, “intend”, “continue”, “target”, “plan”, “goal”, “aim” or “believe” (or the negatives thereof) or other variations thereon or comparable terminology. These forward-looking statements include all matters that are not historical facts and include statements regarding the Company’s intentions, beliefs or current expectations concerning, among other things, the Company’s results of operations, financial condition, changes in global or regional trade conditions, changes in tax rates, liquidity, prospects, growth and strategies.  By their nature, forward-looking statements involve risks, assumptions and uncertainties that could cause actual events or results or actual performance of the Company to differ materially from those reflected or contemplated in such forward-looking statements. No representation or warranty is made as to the achievement or reasonableness of and no reliance should be placed on such forward-looking statements.

The Company does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or in the Company’s expectations.

Contacts:

Investor Relations:
+44 (0) 20 7644 1082
investorenquiries@kingfisher.com

Media Relations:
+44 (0) 20 7644 1030
corpcomms@kingfisher.com

Teneo Blue Rubicon
+44 (0) 20 7260 2700
Kfteam@teneobluerubicon.com

Source: Kingfisher

Dollar General schedules webcasts of its 2017 annual shareholders meeting and its 1Q 2017 earnings conference call

GOODLETTSVILLE, Tenn., 2017-May-12 — /EPR Retail News/ — Dollar General Corporation (NYSE: DG) today (May 10, 2017) announced the following information regarding webcasts of its 2017 annual meeting of shareholders and its first quarter earnings conference call.

2017 Annual Meeting of Shareholders – May 31

Dollar General plans to webcast its 2017 annual meeting of shareholders on Wednesday, May 31, 2017, at 9:00 a.m. CT/10:00 a.m. ET. The webcast will be broadcast live online at www.dollargeneral.com under “Investor Information, News & Events, Events & Presentations” and will be accessible through Wednesday, June 14, 2017.

First Quarter 2017 Financial Results – June 1

On Thursday, June 1, 2017, Todd Vasos, Dollar General’s chief executive officer, and John Garratt, chief financial officer, plan to host a conference call beginning at 9:00 a.m. CT/10:00 a.m. ET to discuss the Company’s financial results for its 2017 first fiscal quarter ended May 5, 2017.

If you wish to participate, please call (855) 576-2641 at least 10 minutes before the conference call is scheduled to begin. The conference ID is 14434844. The call will also be broadcast live online at www.dollargeneral.com under “Investor Information, News & Events, Events & Presentations.” A replay of the conference call will be available through Thursday, June 15, 2017, and will be accessible online or by calling (855) 859-2056. The conference ID for the replay is 14434844.

About Dollar General Corporation

Dollar General Corporation has been delivering value to shoppers for over 75 years. Dollar General helps shoppers Save time. Save money. Every day!® by offering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, clothing for the family, housewares and seasonal items at low everyday prices in convenient neighborhood locations. Dollar General operated 13,601 stores in 44 states as of May 5, 2017. In addition to high quality private brands, Dollar General sells products from America’s most-trusted brands such as Procter & Gamble, Kimberly-Clark, Unilever, Kellogg’s, General Mills, Nabisco, Hanes, PepsiCo and Coca-Cola. Learn more about Dollar General at www.dollargeneral.com

Contact(s):
Investor Contacts:
Mary Winn Pilkington
615-855-5536

Matt Hancock
615-855-4811

Media Contacts:
Dan MacDonald
615-855-5209

Crystal Ghassemi
615-855-5210

Source: Dollar General Corporation

Xcel Brands announces strong performance in 1Q 2017

  • Company Reports First Quarter Net Revenues of $8.4 Million
  • First Quarter GAAP Pre-Tax Income of $0.1 Million; GAAP Net Loss of $0.4 Million
  • First Quarter Non-GAAP Net Income of $1.1 Million; Adjusted EBITDA of $1.9 Million
  • Company Announces Successful Launch of H Halston brand at Dillard’s

NEW YORK, 2017-May-12 — /EPR Retail News/ — Xcel Brands, Inc. (NASDAQ:XELB) (“Xcel” or the “Company”), a media and brand management company, today (May 09, 2017) announced its financial results for the first quarter ended March 31, 2017.

“We are pleased by the strong performance of our interactive television business during the first quarter of 2017,” said Robert W. D’Loren, Xcel’s Chairman and Chief Executive Officer. He further stated, “We continue to refine our short lead production platform in our department store business and are excited to announce the successful launch of our H Halston brand at Dillard’s.”

First Quarter 2017 Financial Results
Total net revenues for the first quarter of fiscal 2017 were $8.4 million, up approximately 1% compared with the prior year quarter. This was attributable to higher revenues from interactive television and Quick-Time-Response department store initiatives, largely offset by the expiration of the LCNY agreement in July 2016.

GAAP net loss was $(0.4) million for the quarter ended March 31, 2017, or $(0.02) per share, compared with a net loss of less than ($0.1) million, or ($0.00) per share, in the prior year quarter. After adjusting for certain cash and non-cash items, non-GAAP net income for the quarter ended March 31, 2017 was $1.1 million, or $0.06 per diluted share, compared with $1.2 million, or $0.07 per diluted share in the prior year quarter.

Adjusted EBITDA for the quarter ended March 31, 2017 decreased approximately $0.1 million to $1.9 million, compared with $2.0 million for the quarter ended March 31, 2016.

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

The Company’s balance sheet at March 31, 2017 remains strong, with stockholders’ equity of $106.1 million, cash and cash equivalents of $10.2 million, and working capital of approximately $10.5 million.

Conference Call and Webcast
The Company will host a conference call with members of the executive management team to discuss these results with additional comments and details at 5:00 p.m. Eastern Time on Tuesday, May 9, 2017. A webcast of the conference call will be available live on the Investor Relations section of Xcel’s website at www.xcelbrands.com. Interested parties unable to access the conference call via the webcast may dial 800-231-9012. A replay of the conference call will be available on the Company website for 30 days following the event and can be accessed at 844-512-2921 using replay pin number 4482351.

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

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

For further information please contact:
Jeff Sonnek/John Mills
ICR
646-277-1263
Jeff.Sonnek@icrinc.com / John.Mills@icrinc.com

Source: Xcel Brands, Inc./globenewswire

Al Meera announces growth in its financial results for 1Q 2017

Al Meera announces growth in its financial results for 1Q 2017

 

DOHA, Qatar, 2017-May-03 — /EPR Retail News/ —  Al Meera Consumer Goods Company (Q.S.C.) announced its financial results for the first quarter of 2017, three months ended 31 March 2017. Sales reached QAR 644.1 million, compared to QAR 641.0 million for the same period in 2016, and Gross Margin increased from QAR 99.7 million in 2016 to QAR 105.2 million in 2017, a growth of 5.5%.

The Earnings per Share (EPS) amounted to QAR 2.03 in first quarter of 2017 versus QAR 2.47 for the first quarter of 2016.

“Al Meera continues to achieve growth in sales and gross profit reflecting our Board of Directors’ clear vision, sound policies, and strategic decisions. The achieved growth over last year shows  that Al Meera market strategy is in line with the current market conditions, and the company’s expenses are kept in line with its expansion plan with the opening of four new community malls that aims to cater to all our customers’ needs”.

He added: “As a Company that puts its customers, stakeholders and the community first, the success and growth we have achieved has inspired us to continue our faithful contribution to the community in which we operate. Which is why, the first quarter of 2017 has witnessed a number of strategic and community development initiatives that have won the recognition of the industry and consumers alike, and we are looking forward to more fruitful results in the next quarter.”

Growth and expansion

On its expansion strategy front, the first quarter of 2017 marked the launch of Umm Salal Ali shopping center, one of the previously announced 5 out of 14-store expansion phase. Built on a land area of 4014 m2, and featuring a 1750 m2 Supermarket, the store has been equipped to serve residents in the area with fresh sections that Al Meera customers enjoy shopping from, in addition to 9 shops, a small food court, a dedicated parking space and other facilities that further augment visitors’ experience at the shopping center.

The milestone achievement was soon followed by the opening of Al Meera’s latest store in Al Wakra (East), bringing Al Meera’s distinctive shopping experience, state-of-the-art technologies and facilities that have become synonymous with the Retailer’s community shopping centers, to one more of the country’s regions that are witnessing significant urban development and a population boom in Qatar, in line with the Qatar National Vision 2030.

Currently, Al Meera has 7 branches under construction, of which 5 are expected to open during 2017. In this sense, the company keeps on delivering its promises to the communities it serves wherever they were in the State of Qatar.

Al Meera’s CSR

On the social level, Al Meera invested in its keenness on spreading a culture of sports among the various segments of the society, as the company celebrated Qatar’s 6th National Sport Day (NSD) by supporting various competitions and events held at the Cultural Village Foundation (Katara), in partnership with the Ministry of Municipality and Environment (MME), the Community College of Qatar (CCQ), and Qatar University (QU). Al Meera’s role in the 2017 National Sport Day activities revolved around offering sports enthusiasts and event participants, fresh fruit, healthy snacks and water at different locations throughout Katara.

The Company’s strong belief in the key role of sports and exercise in leading happy and healthy lives, were also manifested in its participation in the 10th International Gymnastics Federation (FIG) Artistic Gymnastics World Cup in Aspire Dome as the Official Supplier of the event. This year’s event was staged at the highest level (World/Challenge Cup) and involved an array of international gymnasts from 30 countries across its various competitions.

Al Meera’s unwavering commitment to its Corporate Social Responsibility program and its years-long expertise in community development was reflected in the Company’s draft of the global management project “Social responsibility and its impact on local and international companies”, which was presented at Qatar Uuniversity’s CSR Exhibition, in the presence of HE Salah Bin Ghanim Al-Ali, the Minister of Culture and Sports and QU’s President Dr. Hasan Al Derham, among other dignitaries. Al Meera also received the CSR Responsible Leadership Award, in recogonition of its leading part in that field, at a special ceremony held at Qatar University (QU), to launch the CSR Report ‘the National Book’ Qatar 2016.

Contact:

Tel: 40119111 – 40119112
Fax: +974 40119186
Email: admin@almeera.com.qa

Source: Al Meera

###

Kering achieved record performance in 1Q 2017

London, 2017-Apr-26 — /EPR Retail News/ —  “Kering achieved a record performance in the first three months of the year, posting a sharp acceleration in sales growth.  Benefitting from somewhat more favorable market conditions, our strong delivery primarily stems from meticulous execution of our strategy and the creative audacity of our Houses. In a climate of persistent geopolitical and macroeconomic uncertainties, our first quarter puts us in a particularly good position for the balance of the year.  The Group will continue to focus on organic growth and market share gains, on value creation and ongoing operational and financial discipline.” François-Henri Pinault, Chairman and Chief Executive Officer

Sharp acceleration in growth across the Group
• First-quarter 2017 revenue totalling €3,573.5 million
• Major sequential increase driven by double-digit growth across all activities and all geographic regions excluding Japan

Luxury activities: all Houses delivering remarkable performances
• Record growth at Gucci, whose creative universe is drawing ever increasing enthusiasm
• Sustained growth trajectory for Yves Saint Laurent
• Positive trends at Bottega Veneta and in the Other Luxury brands; marked sales acceleration at Balenciaga

Sport & Lifestyle activities: excellent start to the year
• Puma revenue up 17.9% year on year as reported and 15.3% on a comparable basis; all product categories contributing to the brand’s ongoing growth momentum

LUXURY ACTIVITIES: EXCELLENT PERFORMANCES
Revenue generated by Luxury activities totalled €2,417.1 million in the first quarter of 2017, up by a sharp 34.0% as reported and 31.6% on a comparable basis, against a favourable base of comparison.

Sales growth in the Group’s directly operated store network was particularly high, at 36.6% on a comparable basis, driven by remarkable performances in Western Europe and the Asia Pacific region, which reported retail sales increases on a comparable basis of 49.9% and 46.7%, respectively.  Growth in retail sales was also significant in North America and the Rest of the world, up 29.7% and 28.1%, respectively, on a comparable basis. Online sales leapt 60.1% on a comparable basis, underscoring the success of the digital strategies implemented by Kering’s Luxury Houses.

Wholesale revenue climbed 20.2% on a comparable basis.

Gucci – Outstanding growth performance

The particularly remarkable growth reported by Gucci in the first quarter of 2017 demonstrates the resounding success of the brand’s creative reinvention and the exceptional skill with which its strategy has been implemented. Revenue shot up by 51.4% as reported and 48.3% on a comparable basis, with all regions and product categories contributing to the overall rise.

Sales in directly operated stores were up 51.4% on a comparable basis, with especially sharp increases in Western Europe (up 66.4% on a comparable basis) and the Asia Pacific region (up 63.1% on a comparable basis).

Gucci’s collections once again proved extremely popular during the period, with double-digit growth for all product categories and ever-increasing demand for Ready-to-Wear and Shoes. Leather Goods also experienced excellent momentum, reflecting Gucci’s talent in creating iconic models and successfully renewing them season after season.

Bottega Veneta – Improving trends

Bottega Veneta’s revenue was up 4.7% as reported and 2.3% on a comparable basis, marking an upturn for the brand against a backdrop of more favourable market conditions.

Western Europe, Asia Pacific, and the Rest of the World experienced positive momentum, fuelled by sales to both returning and new customers. Overall, sales in directly operated stores climbed 3.6% year on year on a comparable basis.

Shoes, especially Women’s models, remained in high demand.

Yves Saint Laurent – Sustained robust growth

Yves Saint Laurent delivered another excellent performance in the first quarter, with revenue up 35.4% as reported and 33.4% on a comparable basis. Directly operated stores saw further double-digit sales growth in all geographic regions except Japan, with particularly sharp increases in Western Europe (up 46.0% on a comparable basis) and Asia Pacific (up 48.1% on a comparable basis). Online sales also posted further growth, driven by Western Europe and North America.

The Summer collection – fully designed by Anthony Vaccarello and available in stores since January 2017 – has been extremely well received. A number of products rapidly rose to best-seller status, notably in Women’s Shoes and Ready-to-Wear.

Other Luxury brands – Double-digit growth for both Couture & Leather Goods and Watches & Jewellery 

Revenue from the Group’s Other Luxury brands was up 12.3% as reported and 11.1% on a comparable basis, with all distribution channels contributing to the overall growth.

Couture & Leather Goods Maisons posted an aggregate revenue rise of 11.1% on a comparable basis, powered by an excellent showing from Balenciaga’s directly operated store network across all geographic regions and all product categories, confirming the success of Demna Gvasalia’s collections. Stella McCartney and Alexander McQueen achieved further growth in the period, while Brioni’s sales in directly operated stores trended upwards again.

Revenue from Watches & Jewellery Houses climbed 13.1% on a comparable basis, with good performances at Boucheron and Pomellato, demonstrating their innovative flair through new collections, reworked iconic lines and 360-degree marketing campaigns. The Group’s watch manufacturers also fared well in the first quarter. Girard-Perregaux and Ulysse Nardin joined the exhibitors at the Salon International de la Haute Horlogerie (SIHH) in January 2017, where they successfully unveiled several new models.

SPORT & LIFESTYLE ACTIVITIES: VERY GOOD PERFORMANCES FROM PUMA

Revenue generated by Sport & Lifestyle activities advanced 16.5% year on year as reported and 14.0% on a comparable basis, fuelled by an excellent performance from Puma, which reported record quarterly revenue of €1,008.9 million. All geographic regions except Japan registered double-digit sales growth and Footwear was the leading product category, with sales up by a significant 24.8% on a comparable basis.

Conversely, Volcom’s sales continued to be weighed down by the difficulties experienced by specialist distributors in the US, despite a solid showing from the directly operated store network.

“Corporate and other”: consolidation of Kering Eyewear sales

For the first time, Kering Eyewear – whose operation of the Gucci license for sunglasses and frames has been effective since January 2017 – is accounted for under “Corporate and other”. Kering Eyewear’s total sales, before elimination of intra-group sales and royalties received by the brands, amounted to €112.9 million in the first quarter. Net revenue for the period totalled €85.5 million.

SIGNIFICANT EVENTS SINCE JANUARY 1, 2017 

Brioni: Appointment of Fabrizio Malverdi

On March 17, 2017, Kering announced the appointment of Fabrizio Malverdi as CEO of Brioni. Reporting to Jean François Palus, Kering’s Group managing director, his mission is to accelerate the international expansion of one of the most prestigious houses in the high-end menswear market, which follows in the long tradition of Italian tailors.

Kering Eyewear

On March 21, 2017, Kering announced that its subsidiary, Kering Eyewear, and Cartier, owned by Compagnie Financière Richemont, had signed a strategic partnership agreement aimed at combining their operations in order to create a powerful platform for the development, manufacture and worldwide distribution of the Cartier eyewear collection. This project is subject to clearance by the relevant competition authorities.

Bond issue 

On March 28, 2017, Kering carried out a €300 million issue of ten-year bonds with a fixed-rate coupon of 1.50%.

Renovation of Boucheron’s flagship store on Place Vendôme 

On March 30, 2017, Kering announced that renovation will begin at Boucheron’s iconic flagship store at 26, Place Vendôme in Paris. The project aims to showcase the architecture and original volumes of the building, as Boucheron’s 160th anniversary draws near.

SUSTAINABILITY INITIATIVES

Launch of the 2025 sustainability strategy

On January 25, 2017, Kering launched its new sustainability strategy for 2025. Its targets are divided into three themes

– Environment: CARE for the planet, which includes initiatives by which Kering aims to reduce its Environmental Profit and Loss (EP&L) account by at least 40%, and carbon emissions from its activities by 50%, among others.

– Social welfare: COLLABORATE with people, which comprises the Group’s social ambitions.

– Innovation: CREATE new business models, which primarily involves investing in disruptive innovations that can transform conventional processes in luxury, and influence the industry.

 About Kering

A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra. By ‘empowering imagination’, Kering encourages its brands to reach their potential, in the most sustainable manner.

The Group generated revenue of €12.385 billion in 2016 and had more than 40,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

Press Conntact:
Emilie Gargatte
+33 (0)1 45 64 61 20
emilie.gargatte@kering.com

Astrid Wernert
+33 (0)1 45 64 61 57
astrid.wernert@kering.com

Analysts/investors
Claire Roblet
+33 (0)1 45 64 61 49
claire.roblet@kering.com

Andrea Beneventi
+33 (0)1 45 64 63 28
andrea.beneventi@kering.com

www.kering.com
Twitter: @KeringGroup
LinkedIn: Kering
Instagram: @kering_official 
YouTube: KeringGroup

Source: Keing Group

Tractor Supply announces 6.6% net sales increase to $1.56 billion in 1Q 2017 vs. same period in 2016

BRENTWOOD, TN, 2017-Apr-14 — /EPR Retail News/ — Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retail store chain in the United States, today ( 4/11/2017) provided a business update for the first quarter ended April 1, 2017.

Net sales for the first quarter 2017 increased 6.6% to $1.56 billion from $1.47 billion in the first quarter of 2016. Comparable store sales decreased 2.2% versus an increase of 4.9% (2.6% adjusted for week shift) in the prior year’s first quarter. Each quarter of fiscal 2017 starts one week later than the same quarter of fiscal 2016 due to the Company’s 2016 fiscal year having 53 weeks versus the normal 52 weeks. The comparable store sales results included decreases in comparable transaction count and average ticket of 1.4% and 0.9%, respectively. The decrease in comparable store sales was primarily driven by lower sales of seasonal merchandise and the impact of deflation. On a regional basis, sales were most challenged in the Northern regions, where weather had a more pronounced impact on sales for the quarter. The weakness in seasonal categories was partially offset by a positive comparable store sales increase in the Livestock and Pet category.

As a result of the above factors, the Company expects net income per diluted share for the first quarter to range from $0.45 to $0.46.

Greg Sandfort, Chief Executive Officer, stated, “Weather can influence the demand for certain products, and while we had a challenging quarter with respect to sales and margin, our business is more accurately assessed by the halves, not the quarters. We believe seasonal merchandise sales will improve as we move further into the spring selling season.”

Mr. Sandfort continued, “We have a solid core business that is focused on a dedicated lifestyle customer who depends upon us for the products they need. Despite the challenging start to the fiscal year, we believe there is significant business ahead of us. We are excited about our upcoming merchandise initiatives and the continued execution of our cross-channel, customer centric growth strategy, which includes the recent expansion of Neighbor’s Club and Buy Online Pick Up In Store.”

Release and Webcast of Full First Quarter 2017 Results

The Company intends to release its full first quarter 2017 results after the market closes on Wednesday, April 26, 2017. In conjunction with the release of results, the management of Tractor Supply Company will host a conference call at 5:00 p.m. Eastern Time on Wednesday, April 26, 2017, which will be simultaneously webcast live over the Internet at IR.TractorSupply.com.

Please allow extra time prior to the call to visit the site and download the streaming media software required to listen to the Internet broadcast.

A replay of the webcast will be available at IR.TractorSupply.com shortly after the conference call concludes.

About Tractor Supply Company

Founded in 1938, Tractor Supply Company is the largest rural lifestyle retail store chain in the United States. At April 1, 2017, the Company operated 1,617 Tractor Supply stores in 49 states and an e-commerce website at www.tractorsupply.com. Tractor Supply stores are focused on supplying the lifestyle needs of recreational farmers and ranchers and others who enjoy the rural lifestyle, as well as tradesmen and small businesses. Stores are located primarily in towns outlying major metropolitan markets and in rural communities. The Company offers the following comprehensive selection of merchandise: (1) equine, livestock, pet and small animal products, including items necessary for their health, care, growth and containment; (2) hardware, truck, towing and tool products; (3) seasonal products, including heating, lawn and garden items, power equipment, gifts and toys; (4) work/recreational clothing and footwear; and (5) maintenance products for agricultural and rural use.

Tractor Supply Company also owns and operates Petsense, a small-box pet specialty supply retailer focused on meeting the needs of pet owners, primarily in small and mid-size communities, and offering a variety of pet products and services. At April 1, 2017, the Company operated 152 Petsense stores in 26 states. For more information on Petsense, visit www.petsense.com.

Forward Looking Statements

As with any business, all phases of the Company’s operations are subject to influences outside its control. This information contains certain forward-looking statements, including statements regarding sales, margins and earnings, estimated results of operations, and marketing, merchandising and strategic initiatives. These forward-looking statements are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are subject to the finalization of the Company’s quarterly financial and accounting procedures, and may be affected by certain risks and uncertainties, any one, or a combination, of which could materially affect the results of the Company’s operations. These factors include, without limitation, national, regional and local economic conditions affecting consumer spending, the timing and acceptance of new products in the stores, the timing and mix of goods sold, purchase price volatility (including inflationary and deflationary pressures), the ability to increase sales at existing stores, the ability to manage growth and identify suitable locations, weather conditions, failure of an acquisition to produce anticipated results, the ability to successfully manage expenses and execute key gross margin enhancing initiatives, the availability of favorable credit sources, capital market conditions in general, the ability to open new stores in the manner and number currently contemplated, the impact of new stores on the business, competition, the seasonal nature of the business, effective merchandising initiatives and marketing emphasis, the ability to retain vendors, reliance on foreign suppliers, the ability to attract, train and retain qualified employees, product liability and other claims, changes in federal, state or local regulations, potential judgments, fines, legal fees and other costs, breach of information systems or theft of employee or customer data, ongoing and potential future legal or regulatory proceedings, management of the Company’s information systems, failure to develop and implement new technologies, the failure of customer-facing technology systems, business disruption including from the implementation of supply chain technologies, effective tax rate changes and results of examination by taxing authorities, the ability to maintain an effective system of internal control over financial reporting, and changes in accounting standards, assumptions and estimates. Forward-looking statements made by or on behalf of the Company are based on knowledge of its business and the environment in which it operates, but because of the factors listed above, actual results could differ materially from those reflected by any forward-looking statements. Consequently, all of the forward-looking statements made are qualified by these cautionary statements and those contained in the Company’s Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. There can be no assurance that the results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequences to or effects on the Company or its business and operations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contact:

Kurt D. Barton
Chief Financial Officer

Christine Skold
Vice President, Investor Relations
(615) 440-4000

Investors:
John Rouleau/Rachel Schacter
ICR

Media:
Alecia Pulman/Brittany Rae Fraser
ICR
TractorSupply.com
(203) 682-8200

Source: Tractor Supply Company