LightInTheBox Holding Co., Ltd. to host 3Q 2017 financial results conference call on Wednesday, December 13, 2017

BEIJING, 2017-Dec-12 — /EPR Retail News/ — LightInTheBox Holding Co., Ltd. (NYSE: LITB) (“LightInTheBox” or the “Company”), a global online retail company that delivers products directly to consumers around the world, today (Dec. 11, 2017 ) announced that it will release its unaudited financial results for the third quarter ended September 30, 2017 before the open of U.S. markets on Wednesday, December 13, 2017.

LightInTheBox’s management will hold a conference call to discuss the results at 8:00 a.m. Eastern Time on December 13, 2017 (9:00 p.m. Beijing Time on the same day).

Dial-in details for the earnings conference call are as follows:

US Toll Free: 1-866-519-4004
Hong Kong Toll Free: 800-906-601
Mainland China: 400-620-8038
International: +65-6713 5090
Passcode: 6772059

A telephone replay will be available two hours after the conclusion of the conference call through December 20, 2017. The dial-in details are:

US: +1-646-254-3697
Hong Kong: +852-3051-2780
International: +61-2-8199-0299
Passcode: 6772059

Additionally, a live and archived webcast of the conference call will be available on the Company’s Investor Relations website at http://ir.lightinthebox.com.

About LightInTheBox Holding Co., Ltd.

LightInTheBox is a global online retail company that delivers products directly to consumers around the world. The Company offers customers a convenient way to shop for a wide selection of products at attractive prices through its www.lightinthebox.com, www.miniinthebox.com and other websites and mobile applications, which are available in 23 major languages and cover more than 80% of global Internet users.

For more information, please visit www.lightinthebox.com.

Investor Relations Contact:

Christensen
Ms. Xiaoyan Su
Phone: +86-10-5900 3429
Email: ir@lightinthebox.com

Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com

SOURCE: LightInTheBox Holding Co., Ltd.

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.

Metro Inc. to release its 3Q 2017 financial results on August 15th, 2017

Montreal, 2017-Jul-11 — /EPR Retail News/ — Metro Inc. will be releasing its financial results for the Third Quarter of 2017 on August 15th, 2017. This release will be followed by a conference call at 9:00 a.m. EDT.

Mr. Eric R. La Flèche, President & CEO and Mr. François Thibault, Executive Vice President & CFO will hold the conference call intended for investors and financial analysts to review the financial results. This conference call will be followed by a question and answer period and is expected to last approximately 60 minutes.

The analysts and institutional investors are invited to access the conference call, by dialing 647.427.7450 or 1.888.231.8191 (access code 51081346) or via the website by clicking here. The journalists as well as the public may access this conference via a listen mode only. A replay will be available approximately one hour after the call at 1.855.859.2056 (access code 51081346) or via the website by clicking here, until 23:59 EDT on September 14, 2017.

Metro Inc.
With annual sales of over $12 billion and over 65,000 employees, METRO INC. is a leader in the food and pharmaceutical distribution in Quebec and Ontario, where it operates a network of more than 600 food stores under several banners including Metro, Metro Plus, Super C and Food Basics, as well as over 250 drugstores under the Brunet, Metro Pharmacy and Drug Basics banners.

For further information:

Roberto Sbrugnera
Vice President, Treasury, Risks and Investor Relations
Metro Inc.
514 643-1000

Source: Metro Inc.

Alimentation Couche-Tard to host 3Q 2017 financial results conference call on March 14th, 2017

Laval, 2017-Mar-06 — /EPR Retail News/ — Alimentation Couche-Tard Inc. (“Couche-Tard”) (TSX: ATD.A ATD.B), will be holding a conference call on March 14th, 2017 at 2:30pm (EST) to present its third quarter financial results for 2017. As such, Brian Hannasch, President and CEO, as well as Claude Tessier, Chief Financial Officer, will be the speakers and will answer the analysts’ questions. Therefore, Couche-Tard invites analysts known to the Corporation to submit their two questions to its management before 11:00 AM (EST) on March 14th, 2017. The results will be released on March 14th prior to the TSX opening.

Financial analysts, investors, medias and any individuals interested in listening to the webcast on Couche-Tard’s results which will take place online on March 14th, 2017, at 2:30 P.M. (EST) can do so by either accessing the Corporation’s website at http://corpo.couche-tard.com by clicking in the “Investor Relations/Corporate presentations” section or by dialing 1-866-865-3087 or the international number 1-647-427-7450, followed by the access code 76548088#.

Rebroadcast: For individuals who will not be able to listen to the live webcast, a recording of the webcast will be available on the Corporation’s website for a period of 90 days.

About Alimentation Couche-Tard Inc.

Couche-Tard is the leader in the Canadian convenience store industry. In the United States, it is the largest independent convenience store operator in terms of number of company-operated stores. In Europe, Couche-Tard is a leader in convenience store and road transportation fuel retail in the Scandinavian countries (Norway, Sweden and Denmark), in the Baltic States (Estonia, Latvia and Lithuania) and in Ireland with an important presence in Poland.

In addition, under licensing agreements, more than 1,500 stores are operated under the Circle K banner in 13 other countries and territories worldwide (China, Costa Rica, Egypt, Guam, Honduras, Hong Kong, Indonesia, Macau, Malaysia, Mexico, the Philippines, the United Arab Emirates and Vietnam), which brings the total network to close to 12,300 stores.

Forward-Looking Statements

The statements set forth in this press release, which describe Couche-Tard’s objectives, projections, estimates, expectations or forecasts, may constitute forward-looking statements within the meaning of securities legislation. Positive or negative verbs such as “will”, “plan”, “evaluate”, “estimate”, “believe”, “expect” and other related expressions are used to identify such statements. Couche-Tard would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results, or the measures it adopts, could differ materially from those indicated or underlying these statements, or could have an impact on the degree of realization of a particular projection. Major factors that may lead to a material difference between Couche-Tard’s actual results and the projections or expectations set forth in the forward-looking statements include the effects of the integration of acquired businesses and the ability to achieve projected synergies, fluctuations in margins on motor fuel sales, competition in the convenience store and retail motor fuel industries, exchange rate variations, and such other risks as described in detail from time to time in documents filed by Couche-Tard with securities regulatory authorities in Canada. Unless otherwise required by applicable securities laws, Couche-Tard disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking information in this press release is based on information available as of the date of the release.

For more information on Alimentation Couche-Tard Inc., please visit: http://corpo.couche-tard.com.

Contact:

Investor Relations:
Claude Tessier
Chief Financial Officer
Tel: (450) 662-6632, ext. 4607
investor.relations@couche-tard.com

Media Relations:
Marie-Noëlle Cano
Senior Director of Global Communications
Tel: (450) 662-6632, ext. 4611
communication@couche-tard.com

Source: Alimentation Couche-Tard Inc.