Rite Aid updates on the progress of its plans to sell stores to Walgreens Boots Alliance

CAMP HILL, Pa., 2018-Feb-13 — /EPR Retail News/ — Rite Aid Corporation (NYSE: RAD) today (Feb. 8, 2018) provided an update on the progress of its plans to sell stores to Walgreens Boots Alliance, Inc. (Nasdaq: WBA) pursuant to the previously disclosed Amended and Restated Asset Purchase Agreement, dated as of September 18, 2017 (the “Asset Purchase Agreement”). As of February 8, 2018, Rite Aid has transferred 1,114 stores and related assets to WBA, and has received cash proceeds of $2,424 million, which the Company continues to use to reduce debt. Under the Asset Purchase Agreement, WBA will purchase a total of 1,932 stores, three distribution centers and related inventory from Rite Aid for an all-cash purchase price of $4,375 million on a cash-free, debt-free basis.

“We have now completed more than half of the planned store transfers and remain on track to finish the process in the spring of this year,” said Rite Aid Chairman and CEO John Standley. “As we work to complete this process, we remain focused on opportunities to build our business while delivering a great experience to our customers and patients and driving value for our shareholders.”

The majority of the closing conditions have been satisfied, and the subsequent transfers of Rite Aid stores and related assets remain subject to minimal customary closing conditions applicable only to the stores being transferred at such subsequent closing, as specified in the Asset Purchase Agreement. Additional details regarding today’s announcement have been filed with the Securities and Exchange Commission on Form 8-K.

Rite Aid is one of the nation’s leading drugstore chains with fiscal 2017 annual revenues of $32.8 billion. Information about Rite Aid, including corporate background and press releases, is available through the company’s website at www.riteaid.com.

Cautionary Statement Regarding Forward Looking Statements  

Statements in this release that are not historical, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements regarding the expected timing of subsequent closings of the sale of Rite Aid stores and assets to WBA; the ability of the parties to complete each of the subsequent closings for sale and related subsequent transactions considering the various closing conditions applicable to the stores, related assets and/or distribution centers being transferred at such subsequent closing; the outcome of legal and regulatory matters in connection with the sale of stores and assets of Rite Aid to WBA; the expected benefits of the transactions such as improved operations, growth potential, market profile and financial strength; the competitive ability and position of Rite Aid following completion of the proposed transactions; the ability of Rite Aid to implement new business strategies following the completion of the proposed transactions; the ability of Rite Aid to repay its debt using the proceeds from the proposed transactions and any assumptions underlying any of the foregoing. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and involve risks, assumptions and uncertainties, including, but not limited to, our high level of indebtedness and our ability to make interest and principal payments on our debt and satisfy the other covenants contained in our debt agreements; general economic, industry, market, competitive, regulatory and political conditions; our ability to improve the operating performance of our stores in accordance with our long term strategy; the impact of private and public third-party payers continued reduction in prescription drug reimbursements and efforts to encourage mail order; our ability to manage expenses and our investments in working capital; outcomes of legal and regulatory matters; changes in legislation or regulations, including healthcare reform; our ability to achieve the benefits of our efforts to reduce the costs of our generic and other drugs; risks related to the proposed transactions, including the possibility that the subsequent transactions may not close, including because a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the transactions, or may require conditions, limitations or restrictions in connection with such approvals, the risk that there may be a material adverse change of Rite Aid, or the business of Rite Aid may suffer as a result of uncertainty surrounding the proposed transactions; risks related to the ability to realize the anticipated benefits of the proposed transactions; risks associated with the financing of the proposed transaction; disruption from the proposed transaction making it more difficult to maintain business and operational relationships; the effect of the pending sale on Rite Aid’s business relationships (including, without limitation, customers and suppliers), operating results and business generally; risks related to diverting management’s or employees’ attention from ongoing business operations; the risk that Rite Aid’s stock price may decline significantly if the proposed transaction is not completed; significant transaction costs; unknown liabilities; the risk of litigation and/or regulatory actions related to the proposed transactions; potential changes to our strategy in the event the remaining proposed transactions do not close, which may include delaying or reducing capital or other expenditures, selling assets or other operations, attempting to restructure or refinance our debt, or seeking additional capital, and other business effects. These and other risks, assumptions and uncertainties are more fully described in Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K, and in other documents that we file or furnish with the Securities and Exchange Commission, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward- looking statements, which speak only as of the date they are made. Rite Aid expressly disclaims any current intention to update publicly any forward-looking statement after the distribution of this release, whether as a result of new information, future events, changes in assumptions or otherwise.

Contact:

Investors: 

Byron Purcell
717-975-5809
investor@riteaid.com

Media:
Susan Henderson
717-730-7766

Source: Rite Aid Corporation

Asda sets out plans on how it will reduce its use of plastic

Asda sets out plans on how it will reduce its use of plastic

 

Leeds, UK, 2018-Feb-07 — /EPR Retail News/ — Today (February 5, 2018), Asda has become the first of the “big four” supermarkets to set out detailed plans about how it will reduce its use of plastic.

The supermarket, which accounts for 15.3% of the supermarket industry in the UK has also said it wants to create a more collaborative, open environment within the retail industry to help drive innovation and “unwrap” the plastics problem.

In a document published on its website today, “Plastic Unwrapped – our pledge to use less and recycle more”, Asda has promised its customers that it will reduce the amount of plastic in its packaging by 10% this year, as well as work with its suppliers and other experts to investigate new options to replace plastic packaging and find more recyclable solutions.

What has Asda committed to doing?

  • Removing 10% of plastic from its Own Brand packaging in the next 12 months and publishing regular updates for customers to follow its progress
  • Introducing a zero profit re-usable coffee cup to give customers a great value alternative to single use cups.
  • Remove all single use cups and plastic cutlery from its offices in 2018 and all its stores and cafes by the end of 2019.
  • Phase out 5p ‘single use’ carrier bags from its shops by the end of 2018 and introduce a donation to good causes from the sale of its “bags for life” so that charities don’t lose out.
  • Work in partnership with the UK’s leading experts in packaging technology at the Leeds Beckett University Retail Institute as well as one of Asda’s biggest UK suppliers, ABP, on priority projects to develop new alternatives to plastics and more recyclable materials.
  • Creating the Asda Plastic Ideas Hub, open to all from industry to individuals, offering a £10,000 award for every scaleable, workable idea that helps Asda to tackle its top plastic challenges – such as alternatives to plastic film.

Asda’s President and Chief Executive, Roger Burnley, outlined his commitment to reducing plastic in a blog published alongside the “Plastic Unwrapped” report.

In it he says; “I truly believe that when you serve 18 million people each week and have the ability to make a difference to them, you should do it.

“I want Asda’s customers to know that they can trust us to take the lead on the issues that really matter to them. So we have challenged ourselves to look at what more we can do to reduce the amount of plastic in our business, and within our industry as a whole.”

You can read the full blog from Roger Burnley here and Asda’s ‘Plastics Unwrapped’ here.

Source: ASDA

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Mill Station: Kimco unveils plans for a new, open-air shopping destination in Baltimore County, Maryland

Mill Station: Kimco unveils plans for a new, open-air shopping destination in Baltimore County, Maryland

 

Costco to anchor this Kimco Signature Series development

NEW HYDE PARK, N.Y., 2017-Nov-22 — /EPR Retail News/ — Kimco Realty Corp. (NYSE:KIM) today (11/21/2017) introduced plans for Mill Station – a new, open-air shopping destination at the former site of the Owings Mills Mall in Baltimore County, Maryland. Costco will anchor the 575,000-square-foot Kimco Signature Series development, which will feature national, regional and local retailers, a variety of dining options, ample parking, green space and pedestrian-friendly walkways. Construction is scheduled to commence in early 2018, with completion expected in early 2019.

“Mill Station will be a dynamic retail destination that breathes new life into the Owings Mills community,” said Conor Flynn, Kimco’s Chief Executive Officer. “Kimco is transforming this asset, delivering an impressive mix of national brands, local shops and dining options in a modern, open layout that better reflects the desires of local shoppers and the character of this area.”

The approximately $108-million, ground-up development will house up to 30 retailers and restaurants, linked by a network of walkways and connections to existing office and retail. Mill Station lies in close proximity to mass transit, and enjoys direct access to I-795, connecting Carroll County with Baltimore County. The shopping center will serve a population of 166,000 in the surrounding five-mile area, with an average household income of approximately $93,000.

Costco will open a 148,000-square-foot warehouse club at the shopping center, to include a deli, bakery, food court, garden center, optical department, photo center and a gas station. The Mill Station club will be the only Costco location within a 15-mile radius. Kimco is negotiating leases with several additional retailers to occupy a total of 350,000 square feet at the new center. Furthermore, the site’s existing AMC Theatre will be fully modernized, creating a state-of-the-art cinema experience.

“We are confident that Mill Station will be a lifestyle destination that the Owings Mills community will enjoy for years to come,” said Tom Simmons, President of Kimco’s Mid-Atlantic Region. “We’d like to thank the Owings Mills residents, area businesses and local officials, whose voices and opinions were heard and appreciated throughout the planning process.”

About Kimco

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of September 30, 2017, the company owned interests in 507 U.S. shopping centers comprising 84 million square feet of leasable space primarily concentrated in the top major metropolitan markets. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 50 years. For further information, please visit www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.

Contact:
Jennifer Maisch
516-869-7224
Director, Corporate Communications
jmaisch@kimcorealty.com

Source: Kimco Realty Corporation

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Amazon offers a sneak peek of its plans for Black Friday deals

  • Black Friday will feature more than 30 Deals of the Day and thousands of Lightning Deals across 30 categories
  • Save up to 35% on Melissa & Doug toys and furniture; Premium brand 40-inch smart TV only $279.99; Echo Dot only $29.99 – the lowest price ever!
  • Shop deals from small businesses and entrepreneurs, including startups in the Amazon Launchpad and Amazon Exclusives programs, on everything from toys and electronics to sporting equipment and clothes

SEATTLE, 2017-Nov-15 — /EPR Retail News/ — Amazon is offering a sneak peek of its plans for Black Friday and, with deals across 30 categories, there is something for everyone this holiday. Now through Black Friday, customers will find deals on items including toys, electronics, fashion, beauty, kitchen, sporting goods, and more, in addition to Amazon Devices and products from small businesses and entrepreneurs, at amazon.com/blackfriday. Customers can expect to find incredible deals across a wide selection of top holiday products throughout the duration of the “Turkey 5” – those five popular shopping days starting at midnight PT on Thanksgiving and continuing through Cyber Monday. Black Friday will feature more than 30 Deals of the Day and thousands of Lightning Deals. Customers will find new deals every day, all season long.

Discover all of the great Amazon Black Friday deals at amazon.com/blackfriday or shop anytime, anywhere with the Amazon App (to download, visit amazon.com/mobileapps from your mobile browser). Customers shopping with the Amazon App can also set Watch a Deal alerts to ensure they never miss out on a hot holiday product, and even use AR view, a new augmented reality feature, to view thousands of items in their space before they buy. Voice Shoppers can shop select Black Friday deals, starting as early as 5pm PT, Wednesday, Nov. 22 – just ask Alexa.

All Amazon customers can choose from more than one hundred million items that are eligible for free shipping this holiday and all year long. This includes eligible orders of $25 or more shipped by Amazon, as well as free shipping offers from small business and entrepreneurs selling on Amazon.

The deals included below will be available on various dates and times between Nov. 17 and Nov. 24 (Black Friday), while supplies last, at amazon.com/blackfriday or on the Amazon App.

Amazon Devices

  • Save $20 on Echo Dot, only $29.99 – the lowest price ever for Echo Dot
  • Save $20 on All-New Echo, only $79.99
  • Save $30 on Echo Plus, only $119.99
  • Save $50 on Amazon Tap, only $79.99
  • Add a smart plug to any Echo purchase for only $5 ($20 off)
  • Save $20 on Amazon Cloud Cam, only $99.99
  • Save $30 on Fire 7 Kids Edition, only $69.99 – and save an additional $10 when you buy two Fire 7 Kids Edition tablets, only $129.98
  • Save $40 on Fire HD 8 Kids Edition, only $89.99 – and save an additional $10 when you buy two Fire HD 8 Kids Edition, only $169.98
  • Save $50 on Fire HD 10, only $99.99 – the lowest price ever for the Fire HD 10
  • Save $30 on Fire HD 8, only $49.99
  • Save $30 on Kindle Paperwhite, only $89.99
  • Save $30 on Kindle, only $49.99
  • Save $30 on Kindle for Kids Bundle, only $69.99
  • Save $15 on Fire TV Stick with Alexa Voice Remote, only $24.99

Electronics

  • Premium brand 40-inch smart TV, only $279.99
  • Sony 75-inch 4K Ultra HD smart LED TV (2017 Model), only $1,999.99
  • Sony 70-inch 4K Ultra HD smart LED TV (2017 Model), only $1,199.99
  • Samsung UN65MU8000 65-inch 4K Ultra HD smart TV (2017 Model), only $1,297.99
  • Sony 65-inch 4K Ultra HD smart LED TV (2017 Model), only $1,499.99
  • Samsung UN55MU8000 55-inch 4K Ultra HD smart TV (2017 Model), only $897.99
  • Sony 55-inch 4K Ultra HD smart LED TV (2017 Model), only $999.99
  • 32-inch 720p TV, only $69.99
  • 49-inch 4k TV, only $159.99
  • Save up to 30% on select TP-Link smart home and networking products
  • Save up to 25% on select Seagate hard drives
  • Save up to $150 on Acer Helios 300 Gaming Laptop
  • Save up to $120 on Cyberpowerpc Gaming Desktop
  • Save 30% on Corsair K70 Gaming Keyboard
  • Save up to 35% on select SanDisk memory products
  • Save up to 40% on PC gaming laptops, desktops, components and more
  • Save up to 25% on select 3D printers

Toys

  • Save up to 35% on Melissa & Doug toys and furniture
  • Save up to 40% on K’NEX Thrill Rides-Kraken’s Revenge Roller Coaster
  • Save up to 30% on select Crayola arts and crafts
  • Save up to 30% on select Paw Patrol toys
  • Save up to 50% on select Zoomer toys

Home Furnishings

  • Save up to 35% on select Thanksgiving and holiday décor
  • Save up to 40% on select mattresses, furniture and area rugs
  • Save up to 35% on select Rubbermaid products
  • Save up to 40% on select Thermos products

Smart Home

  • Save up to $40 on Schlage Smart Lock – Works with Amazon Alexa
  • Save $50 on Bluetooth-enabled Opal Nugget Ice Maker
  • Save $100 on SmartThings Home Monitoring Kit

Video Games

  • Save up to $100 on select Playstation virtual reality bundles
  • Save up to 50% on Just Dance 2018 Gold Box

Music, TV, Movies & Books

  • For the first time ever, non-Prime members as well as Prime members who haven’t yet tried Amazon Music Unlimited can get three months of the full catalog on-demand service with access to tens of millions of songs, for just $0.99 starting today
  • Save 40% on new release movies and TV seasons, as well as catalog best sellers available to rent or purchase and instantly stream on Amazon Video
  • Save up to 80% on select Kindle best-selling books

Pets

  • Save 35% on Soft WellBites Dog Treats
  • Save 15% on Fluval 2.6-Gallon Aquarium Kit

Sports & Outdoors

  • Save up to 60% on New Balance shoes and apparel
  • Save up to 30% on Under Armour TB12 Recovery Sleepwear
  • Save 20% on select Tumbl Trak products
  • Save on Bushnell Binoculars and Camelbak Hydration
  • Save up to 35% on select camo apparel
  • Save 20% on select Barska products
  • Save up to 25% on Nikon Coolshot 80 Rangefinder
  • Save 20% on Atomic Foosball Table
  • Save 25% on select X-Rocker Gaming Chairs
  • Save up to 35% on select Killerspin Table Tennis Rackets
  • Save 20% on select Paragon popcorn machines

Small Businesses and Entrepreneurs: Small businesses and entrepreneurs selling on Amazon come from every state in the U.S., and more than 130 countries around the world. Customers can shop deals from small businesses and entrepreneurs, including startups in the Amazon Launch pad and Amazon Exclusives programs, on everything from toys and electronics to sporting equipment and clothing:

  • Save 30% on Segway Minipro 2018 Edition
  • Save 20% on Star Wars Droid Inventor Kit
  • Save $30 on Anki Cozmo
  • Save 80% on Queen Rose Full Pregnancy Body Pillow
  • Save 20% on CoffeeGator Pour Over Coffee Maker
  • Save 60% on Silpada ‘Santa Fe’ Sterling Silver, Brass and Turquoise Bracelet

Voice Shop to Get Early Access to Deals: Customers who voice shop with Alexa will get an exclusive shopping window several hours earlier than the general public with access to some of the best deals starting at 5pm PT, Wednesday, Nov. 22. Available on the Amazon Echo, Echo Plus, Echo Dot and Amazon Tap, as well as screened devices such as the all-new Amazon Fire TV, all-new Fire HD 10 Tablet, Echo Show and soon to be released Echo Spot, it’s as simple as asking Alexa. Customers can voice shop with Alexa for tens of millions of Prime-eligible items every day of the year. Changed your mind? No problem, any physical product purchased with your voice is eligible for free returns. Customers must be Prime members with default payment and shipping information. To learn more, visit amazon.com/voiceshopping.

Amazon Prints: Beginning Nov. 19 for a limited time, holiday cards are 50% off. Create high-quality, custom cards and share holiday messages with friends and loved ones. Cards are printed on ultra-thick, matte cardstock and include envelopes with free return address printing plus free delivery with Prime. Go to amazon.com/prints to learn more.

Amazon Restaurants: Prime members making their first Amazon Restaurants order will get $10 off their order plus FREE delivery when they make a qualified purchase on Amazon.com or Prime Now between Nov. 24 and Nov. 27. Go to amazon.com/restaurants to learn more.

Amazon Books: Customers can also discover great deals on books, devices, toys and games in store at Amazon Books in Seattle, New York City (on 34th St and at Columbus Circle), Los Angeles, Chicago, Boston (Dedham and Lynnfield), San Diego, San Jose, Portland, Bellevue(Wash.) and Paramus (N.J.). Whether customers want to discover a new book for the holidays, test-drive a device, or purchase Amazon Gift Cards, Amazon Books offers gifts for everyone.

Amazon.com in Spanish: Customers can shop, browse and search for deals across 30 categories in Spanish. Customers can update their language settings in their Amazon App, as well as visit Amazon.com and click the ‘globe’ button – located in the navigation bar at the top of their Amazon home screen – to set and begin shopping in their preferred language. Preferred language settings will be saved for future site visits under ‘Your account’ settings.

Fast Shipping, Deals and More with Prime: Prime is designed to make your life better every day including the convenience of fast, free shipping and great entertainment. Prime members can shop thousands of Lightning Deals with 30-minute early access and, with the Amazon Prime credit card, members will earn even bigger rewards this holiday season. Members can also enjoy Free Two-Day Shipping with AmazonPrime, as well as Prime FREE One-Day Shipping and Prime FREE Same-Day Delivery on more than one million items in orders of $35 or more available to members in over 5,000 cities and towns. And, with Prime Now, Prime Members in more than 30 U.S. cities can benefit from one-and-two hour delivery. In addition, Prime members in 37 cities and surrounding areas across the U.S. now have access to Amazon Key, the new service that radically improves the convenience of receiving deliveries. Amazon Key allows Prime members to have eligible packages securely delivered inside their homes without having to be there.

About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit www.amazon.com/about and follow @AmazonNews.

Media Hotline:

206-266-7180
Amazon-pr@amazon.com
www.amazon.com/pr

Source: Amazon.com, Inc.

Newegg unveils its plans for Black November® 2017

Los Angeles, CA, 2017-Nov-04 — /EPR Retail News/ — Newegg, the leading tech-focused e-retailer in North America, today (November 1, 2017) offered an early look at its plans for this year’s Black November®, a month-long initiative featuring some of the best deals in tech. Now in its ninth year, Black November rewards early holiday shoppers with access to steep discounts on the season’s most sought-after products. Additionally, Newegg will reveal 20 – 50 early Black Friday deals each Friday leading up to Newegg’s Ultimate Black Friday Sale.

“Our customers know Newegg as the best place to get tech, and this is especially true this holiday season. With a rolling cadence of deals, Black November makes it easy for customers to shop great deals when it’s most convenient,” said Merle McIntosh, Newegg SVP of Sales & Marketing. “Throughout November, we’re offering great deals on all our platforms – web, mobile and Newegg apps – with deep price cuts across our entire portfolio.”

During Black November 2017, Newegg will offer a series of promotions spanning the company’s product categories. The b>Black November Kick-off Sale gives early holiday shoppers their first look at this year’s deals. The promotion runs November 1 – 6, offering deep discounts on thousands of items across Newegg’s 60+ product categories. Sample deals include:

  • iBuyPower Gaming Desktop with Intel Core i7, 16GB DDR4, 2TB HDD, 16GB Optane, and Nvidia GeForce GTX1070: $1,299.99
  • Beyerdynamic T51i Tesla On-Ear Headphones: $184.00
  • HP 27” IPS Frameless LED Monitor: $179.99
  • Avera 49” 4K Ultra HD LED TV: $199.99
  • AMD Ryzen 5 1600x 6-Core Desktop Processor: $219.99
  • MSI GS63VR Stealth Pro-469 Gaming Laptop: $1,049.00
  • Nitro Gaming/Office Chair with Soft PU Leather Cover: $120.00
  • MSI Z270 Gaming Plus 1151 with Intel Z270 SATA 6GB/s ATX Intel Motherboard: $84.99
  • Asus Ge-Force GTX 1060 Video Card: $309.99
  • Polk Audio 5.1 Home Audio Speaker System: $129.99

And new this holiday season, shoppers can stream Newegg Now, the company’s recently unveiled weekly livestream hosted by up-and-coming YouTube personalities Trisha Hershberger and Juan Carlos Bagnell. Newegg Now features deals valid only during each one-hour episode. The November and December livestreams will feature rock-bottom prices on great gift ideas. Newegg Now streams live from Newegg Studios each Thursday at 10 a.m. Pacific/1 p.m. Eastern on Newegg.com.

Visit http://www.newegg.com/BlackNovember frequently to stay on top of Newegg’s Black November deals. Discounts will be deep, and in some cases quantities will be limited. Like Newegg on Facebook and follow Newegg on Twitter to stay up to date on the company’s latest news.

About Newegg
Newegg Inc. is the leading electronics-focused e-retailer in the United States. It owns and operates Newegg.com (http://www.newegg.com) which was founded in 2001 and regularly earns industry-leading customer service ratings. It now has a global reach to more than 50 countries in Europe, Asia Pacific, Latin America and the Middle East. The award-winning website has more than 32 million registered users and offers customers a comprehensive selection of the latest consumer electronics, entertainment, smart home and gaming products, consistently ranking as one of the best online shopping destinations. Newegg Inc. is headquartered in City of Industry, California. Newegg also operates NeweggBusiness.com and Newegg.ca.

Source: Newegg Inc.

IKEA announces plans for its third Dallas-Fort Worth-area store

IKEA announces plans for its third Dallas-Fort Worth-area store

 

CONSHOHOCKEN, PA, 2017-Feb-15 — /EPR Retail News/ — IKEA, the world’s leading home furnishings retailer, has submitted a proposal to the City of Fort Worth, Texas for the Swedish company’s third Dallas-Fort Worth-area store and sixth in the state. Pending necessary approvals and agreements, construction of an IKEA Fort Worth could begin Spring 2018, with an opening Summer 2019. Until then, Metroplex customers can shop at Collin County’s IKEA Frisco, online at IKEA-USA.com, or in Grand Prairie as of Fall 2017. Two other Texas stores are located in Houston and Round Rock, and a San Antonio-area store is planned to open Summer 2019 in Live Oak.

Located approximately 10 miles north of downtown Fort Worth, the 289,000-square-foot proposed IKEA Fort Worth and its 900 parking spaces would be built on 27 acres at the southwestern corner of Interstate 35W and N. Tarrant Parkway. Store plans reflect the same unique architectural design for which IKEA stores are known worldwide. IKEA also would evaluate potential on-site power generation to complement its current U.S. renewable energy presence at nearly 90% of its U.S. locations.

“We are thrilled with our success in North Texas since opening our first store 11 years ago, so we are excited to propose a Fort Worth store to grow our Dallas-area reach,” said Lars Petersson, IKEA U.S. president. “This proposed Fort Worth store would complement our Dallas-area presence in Frisco and soon in Grand Prairie by bringing the unique family-friendly shopping experience even closer to customers in the western part of the Metroplex.”

The proposed IKEA Fort Worth would feature nearly 10,000 exclusively designed items, 50 inspirational room-settings, three model home interiors, a supervised children’s play area, and a 325-seat restaurant serving Swedish specialties such as meatballs with lingonberries and salmon plates, as well as American dishes. Other family-friendly features include a ‘Children’s IKEA’ area in the Showroom, baby care rooms, play areas throughout the store, and preferred parking. In addition to the more than 500 jobs that are expected to be created during the construction phase, more than 250 coworkers would join the IKEA family when the proposed store opens. The proposed IKEA Fort Worth also would provide significant annual sales and property tax revenue for local governments and schools.

Drawing from its Swedish heritage and respect of nature, IKEA strives to minimize its operations’ carbon emissions because reducing its environmental impact makes good business sense. IKEA evaluates locations regularly for conservation opportunities, integrates innovative materials into product design, works to maintain sustainable resources, and flat-packs goods for efficient distribution. U.S. sustainable efforts include: recycling waste material; incorporating key measures into buildings with energy-efficient HVAC and lighting systems, recycled construction materials, warehouse skylights, and water-conserving restrooms; and operationally, eliminating plastic bags from the check-out process, phasing-out the sale of incandescent light bulbs, facilitating recycling compact fluorescent bulbs, and sells only LED bulbs. IKEA U.S. has installed electric vehicle charging stations at 16 locations, has solar arrays at 90% of its locations, and owns two wind farms in the U.S.

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 390 IKEA stores in 48 countries, including 43 in the U.S. IKEA has been included in rankings of “Best Companies to Work For” and, as further investment in its coworkers, has raised its own minimum wage twice in two years. 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.

Contact:
Joseph Roth
Expansion Public Affairs
(610) 834-0180, x 6500

Source: IKEA

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Ahold USA and Delhaize America unveil plans and strategies to further strengthen their brands

Quincy, Mass. and Salisbury, N.C., 2017-Feb-07 — /EPR Retail News/ — Ahold USA and Delhaize America, proud companies of Royal Ahold Delhaize, are each announcing plans to further strengthen their brands to ensure they will remain customer-focused, close to their communities and positioned to win in their markets. This follows the merger of Ahold and Delhaize Group on July 24, 2016, which created the largest grocery retailer group on the United States East Coast, and furthers its strategy centered on building great local brands while capturing the benefits of scale.

As part of this strategy, Ahold USA and Delhaize America in December announced the creation of Retail Business Services LLC, led by Roger Wheeler, President. Retail Business Services will leverage its scale to drive synergies and best practices as well as provide industry-leading expertise, insights and analytics to the Ahold USA brands and Delhaize America brands to support their respective strategies. Services provided by Retail Business Services, in addition to commercial support, will include financial services, not-for-resale procurement, legal services, information technology, and people systems and services.

With the creation of Retail Business Services, the Stop & Shop, Giant Foods, GIANT/MARTIN’S, Peapod, Food Lion and Hannaford brands will be able to dedicate full focus on building on their leading positions in their respective markets and delivering even more for their customers. Each of the brands will have distinctive commercial strategies that are tailored to local markets with dedicated resources, including category merchandising, assortment, pricing, promotions, marketing and format teams. This brand-centric structure, which we expect to be complete by early 2018, will better position the Ahold USA brands and Delhaize America brands to be even more closely connected to their customers and communities. “Positioning the Ahold USA brands to be even closer to their customers will not only help them deepen their connection in their local communities and win in their markets, it will ensure that associates have exciting and rewarding opportunities to make meaningful contributions to each brand’s success,” said Kevin Holt, chief operating officer of Ahold USA.

“Today’s announcements will further strengthen Food Lion and Hannaford’s strong brands,” said Frans Muller, acting chief operating officer (ad interim) of Delhaize America. “The brand-centric structure will enable our Food Lion and Hannaford associates to build even stronger relationships with existing customers and communities in the markets they serve, and win new customers to grow their businesses.”

Ahold USA also announced that its Stop & Shop New York Metro and Stop & Shop New England Divisions will be consolidated into one brand organization. Having a single brand organizational structure dedicated to Stop & Shop will strengthen the brand and will ensure it can better leverage its brand to serve the unique needs of customers in the different markets that Stop & Shop serves.

Delhaize America and Ahold USA brands will maintain their respective office locations in:

 Stop & Shop, Quincy, Mass.
 Food Lion, Salisbury, N.C.
 GIANT/MARTIN’S, Carlisle, Penn.
 Hannaford, Scarborough, Maine
 Giant Food, Landover, Md.
 Peapod, Skokie, Ill.

Ahold USA brands and Delhaize America brands that have regional support offices now will continue to have brand support offices throughout their market areas.

In addition, Holt announced the following Ahold USA brand executive leaders will continue in their roles:

 Mark McGowan, President, Stop & Shop
 Tom Lenkevich, President, GIANT/MARTIN’S
 Gordon Reid, President, Giant Food
 Jennifer Carr-Smith, President, Peapod

“I’m very excited about the brand-centric model at Ahold USA and its brands, which puts the customer at the center of all we do,” said Holt. “Mark, Tom, Gordon and Jennifer all have proven track records and they are the right leaders for our great local brands.”

Muller announced the following Delhaize America brand executive leaders will also continue in their roles:

 Meg Ham, President, Food Lion
 Mike Vail, President, Hannaford

“I am extremely pleased that Meg and Mike will continue to lead and drive the successful strategies of Food Lion and Hannaford,” said Muller. “We have every confidence in the continued success of Food Lion and Hannaford under their leadership.”

In addition, the following executive appointments in the U.S. will become effective when the brand-centric organization is complete, which is expected by early 2018:

 Reporting to Royal Ahold Delhaize:
o Greg Amoroso, Executive Vice President, U.S. Chief Financial Officer
o Linn Evans, Executive Vice President, U.S. Chief Legal Officer

 Reporting to Retail Business Services:
o Kathy Russello, Executive Vice President, People Systems and Services
o JJ Fleeman, Executive Vice President, Commercial Services & Strategy
o Chris Lewis, Executive Vice President, Supply Chain
o Paul Scorza, Executive Vice President, Chief Information Officer

The Ahold USA brands and Delhaize America brands will continue to operate as independent companies in the U.S. and will continue to serve their local customers’ needs and be strong community partners in their respective markets.

About Ahold USA

Ahold USA is a proud company of Ahold Delhaize, one of the world’s largest food retail groups, a leader in supermarkets and e-commerce, and a company at the forefront of sustainable retailing. Ahold USA supports four regional Divisions – Stop & Shop New England, Stop & Shop New York Metro, Giant Landover, and Giant Carlisle – that together operate approximately 780 supermarkets with 115,000 associates in 14 states and the District of Columbia along with Peapod, the nation’s leading e-commerce grocery shopping/delivery service. For more information, visit www.aholddelhaize.com.

About Delhaize America

Delhaize America companies include Food Lion and Hannaford, operating more than 1,200 stores along the East Coast. Each banner has a distinct identity and well-established brand image within its respective markets across 16 states, offering market-specific products and services to meet the unique needs of its customers. The companies of Delhaize America employ more than 96,000 fulltime and part-time associates. The company is part of Ahold Delhaize, an international grocery retailer based in Zaandam, Netherlands.

Media Contacts:
Christopher Brand
for Ahold USA
717-240-1513 (office)
717-448-5835 (cell)

Christy Phillips-Brown
for Delhaize America
704-310-2221 (office)
704-245-3317 (cell)

Source:  Ahold USA

J. C. Penney Company, Inc. announces plans for accelerated growth and financial expectations beyond 2017

PLANO, Texas, 2016-Aug-19 — /EPR Retail News/ — At its 2016 analyst meeting in Las Colinas, Texas, J. C. Penney Company, Inc. (NYSE: JCP) today presented a three-year plan for accelerated growth and outlined its financial expectations for improved performance beyond 2017.

“Since becoming CEO a year ago, the team and I have made considerable progress balancing the art and science of retail by improving our execution in omnichannel, marketing, store operations, supply chain and merchandising,” said Marvin R. Ellison, chairman and chief executive officer of JCPenney.  “There is still much work to do, but I am confident that our focus on sales growth, new technology and expense management will continue to accelerate our turnaround and create shareholder value.”

Building Value and Differentiation Through Private Brands, Home and Beauty
JCPenney is committed to providing customers with compelling merchandise and exclusive shopping experiences that create lasting loyalty.  To deliver on its value proposition to shoppers, the Company will drive private and exclusive brand penetration up to 70 percent of total merchandise sales by 2019.  This target will be achieved by eliminating labels that are no longer relevant and expanding popular existing brands to additional categories. To further differentiate JCPenney from brick-and-mortar and online competition, the Company will maximize opportunities in three specific merchandise strategies:

  • Special Sizes: Growing the special sizes offering by leveraging in-house design and trend teams to deliver quality plus size, petite and big & tall apparel that meets the lifestyle needs of various ages and diverse body types.
  • Home Refresh: Revitalizing the JCPenney Home store to entice customers seeking to update their homes, including rolling out major appliance showrooms to nearly 500 locations and jcp.com, testing Empire Today flooring in three markets and adding Signature Design by Ashley® to the furniture assortment in select stores and jcp.com.
  • Beauty Experience: Pursuing additional growth in Women’s beauty by expanding the number of Sephora inside JCPenney locations, accelerating The Salon by InStyle renovations, rejuvenating center core and emphasizing fine jewelry.

Powering a Swift and Nimble Omnichannel Experience
JCPenney is advancing its omnichannel execution to connect with customers how, when and where they prefer to shop.  A major component of this strategy is mobile, which is the Company’s single greatest touch point with digitally-savvy shoppers.  Bolstering this approach is a newly redesigned JCPenney app that enables customers to locate items, apply coupons and access their JCPenney Rewards more easily.  Shoppers can also complete their jcp.com purchases with a variety of convenient shipping and pickup options, resulting in over 50 percent of online orders stemming from or leading to an in-store experience:

  • Ship to any JCPenney store: Given the Company’s history of operating catalog service desks, JCPenney is one of the few retailers today to offer the option of shipping an online order to any one of its 1,000 stores nationwide;
  • Same-day pickup in stores: Over 150,000 items on jcp.com are eligible for same-day pickup at any JCPenney store within four hours of the order being placed;
  • Faster home delivery: In 2017, the Company will offer a standard delivery turnaround of two business days or less to over 95% of the U.S. population.

To efficiently fill jcp.com orders, JCPenney has made significant investments in state-of-the-art systems that support an enterprise-wide fulfillment strategy to minimize markdowns and improve customer service. In addition to a network of three direct logistic facilities, 250 stores are now capable of filling jcp.com orders with store inventory and shipping directly to customers. This added fulfillment option allows the Company to meet customer demand for a particular style, color or size, while delivering orders faster than ever.

Financial Outlook
In light of these sales and profit enhancing initiatives, the Company also provided financial performance estimates for the 2017-2019 period, as follows:

  • Compounded annual comparable sales growth anticipated to be 3.0 %;
  • Gross margin is expected to improve 75-100 basis points;
  • Additional SG&A expense leverage of 215-240 basis points;
  • Net income is expected to be between $450-500M by 2019;
  • Earnings per share of $1.40-1.55 by 2019.

Ellison added, “Although we’ve sharpened our priorities for the next three years, our strategic framework remains the same. The entire team – from stores to supply chain to the home office – is squarely focused on delivering an unparalleled omnichannel experience, powerful private brands and increased revenue per customer. Under this framework, we are taking market share, outpacing competitors and improving the long term profitability of our business.”

About JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation’s largest apparel and home furnishings retailers, is on a mission to ensure every shopping experience is worth the customer’s time, money and effort. Whether shopping jcp.com or visiting one of over 1,000 store locations across the United States and Puerto Rico, customers will discover a broad assortment of products from a leading portfolio of private, exclusive and national brands.  Supporting this value proposition is the warrior spirit of over 100,000 JCPenney associates worldwide, who are focused on 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, gross margin, selling, general and administrative expenses, earnings and cash flows.  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 non-core 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 including EMV chip technology, 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-K 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

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

Source: J. C. Penney Company, Inc

Lowe’s announces plans for new direct fulfillment center in Robertson County, Tennessee

NASHVILLE, Tenn., 2016-Aug-02 — /EPR Retail News/ — Tennessee Gov. Bill Haslam and Economic and Community Development Commissioner Randy Boyd joined Lowe’s today to announce the company will locate a new direct fulfillment center in Robertson County. The home improvement company expects to invest approximately $100 million and create up to 600 jobs in Coopertown, northwest of Nashville.

Lowe’s direct fulfillment center will cover some 1.1 million square feet – the equivalent of 22 football fields under one roof. Plans call for it to be operational by the third quarter of 2018, initially employing approximately 400 people and growing to 600 employees by 2022. One of the most technology driven and sophisticated operations the company has built, the center will ship parcel packages directly to Lowe’s customers and stores nationwide.

“We’re continually working to make doing business with Lowe’s easier for customers. Investing to build a new direct fulfillment center – the first of its kind for Lowe’s – allows us to offer customers more products online, consolidate multiple parcel shipments and ship purchases directly to customers faster and more efficiently,” said Brent Kirby, Lowe’s chief supply chain officer. “The Nashville area was chosen due to its existing large shipping hubs, access to interstate roadways and well-skilled workforce.”

Lowe’s is the second largest home improvement company in the world. The company was founded in 1946 and today Lowe’s and its related businesses operate or service more than 2,355 retail locations in the United States, Canada and Mexico and 285,000 employees.

“We appreciate Lowe’s for choosing Tennessee and Robertson County as the location for its new fulfillment center and creating 600 jobs for our state,” Gov. Haslam said. “Lowe’s joins more than 16,000 transportation, logistics and distribution establishments operating throughout the state. We welcome Lowe’s to Tennessee and thank the company for bringing us one step closer to our goal of making Tennessee the No. 1 location in the Southeast for high quality jobs.”

“Tennessee’s geographical location is in the heart of the U.S. with easy access to markets around the world, which makes our state the perfect location for a company like Lowe’s to locate its new fulfillment center,” Commissioner Boyd said. “I want to thank Lowe’s for choosing Robertson County for its new operations and for creating these jobs for our state’s growing workforce.”

Local leaders and partners expressed gratitude to Lowe’s for choosing Robertson County as the home for the company’s new fulfillment center.

“We are thrilled that Lowe’s has chosen Coopertown and Robertson County for this amazing new facility,” said Margot Fosnes, president & chief economic development officer,Robertson County Chamber of Commerce. “It is gratifying to see the confidence in our workforce and our community’s ability to support and provide a positive environment for their operations. We look forward to a long and prosperous working relationship with Lowe’s in Robertson County.”

“Robertson County is proud to welcome Lowe’s to our community. This is the culmination of many months of hard work by so many people,” Robertson County Mayor Howard Bradley said. “The prospect of 600 new jobs in our county is exciting. Beyond that is the hope that this will be a prelude to further economic expansion in the western portion of our county. We believe this could be the catalyst that opens up the entire I-24 corridor to new life and opportunity. We are grateful to Lowe’s for having the faith in our region to bring this enormous investment into our collective future.”

“The Town of Coopertown is thrilled to be chosen as the site for this new, state of the art distribution facility for Lowe’s,” Coopertown Mayor Sam Childs said. “We believe the investment and confidence that Lowe’s has placed in our town will put us on the map and spur additional growth and development within our community.”

“TVA and Cumberland Electric Membership Corporation congratulate Lowe’s on its decision to locate in Coopertown, Tennessee, and create hundreds of new job opportunities in the community,” said TVA Senior Vice President of Economic Development John Bradley. “We are privileged to partner with Tennessee Department of Economic and Community Development, Robertson County Chamber of Commerce, city of Coopertown and Robertson County to help foster Lowe’s success at its new operations location.”

Coopertown and Robertson County are represented by Sen. Kerry Roberts and Rep. Sabi “Doc” Kumar.

About the Tennessee Department of Economic and Community Development
Tennessee was named 2014 and 2013 “State of the Year” for economic development by Business Facilities magazine. The Tennessee Department of Economic and Community Development’s mission is to develop strategies which help make Tennessee the No. 1 location in the Southeast for high quality jobs. The department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Find us on the web: tnecd.com. Follow us on Twitter:@tnecd.  Like us on Facebook: facebook.com/tnecd.

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 2015 sales of $59.1 billion, Lowe’s and its related businesses operate or service more than 2,355 home improvement and hardware stores and employ over 285,000 employees. 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.

Contact:

704-758-2917
PublicRelations@lowes.com

SOURCE Lowe’s Companies, Inc.

IKEA plans for biogas-powered fuel cell systems at four more of its California stores

CONSHOHOCKEN, PA , 2016-Jul-15 — /EPR Retail News/ — IKEA, the world’s leading home furnishings retailer, today announced it is furthering its renewable commitment with plans for biogas-powered fuel cell systems at four more of its California stores. A year ago, IKEA completed installation of such a project at IKEA Emeryville, one of the Swedish company’s two San Francisco-area stores. IKEA now plans to expand its fuel cell portfolio to 1.3 MW with a system at its other San Francisco-area store (in East Palo Alto), as well as three stores in Southern California (Costa Mesa, Covina and San Diego). Pending permits, the fuel cells will be installed, commissioned and operational by this Fall, 2016, complementing solar arrays already atop each of the four stores.

“Based on the success of the system installed last year in Emeryville, we are excited about further increasing our renewable portfolio with four more fuel cell projects,” explained IKEA U.S. president Lars Petersson. “Fuel cells represent another way we can contribute to our goal of generating renewable energy equal to the amount of power we consume worldwide.”

For the design, development and installation of these planned fuel cell systems, IKEA contracted with Sunnyvale-based Bloom Energy a provider of breakthrough solid oxide fuel cell technology generating clean, highly-efficient on-site power.

Costa Mesa store – opened in 2003; store size: 308,000 SF on 24 acresFUEL CELL PROGRAM: 300 kW generating 2,497,651 kWh/yearEquivalent to reducing 1,315 tons of CO2, 278 cars’ emissions or powering 194 homes

Covina store – opened in 2003; store size: 325,000 SF on 12.5 acresFUEL CELL PROGRAM: 200 kW generating 1,665,101 kWh/yearEquivalent to reducing 877 tons of CO2, 185 cars’ emissions or powering 130 homes

East Palo Alto store – opened in 2003; store size: 290,000 SF on 10.5 acresFUEL CELL PROGRAM: 300 kW generating 2,497,651 kWh/yearEquivalent to reducing 1,315 tons of CO2, 278 cars’ emissions or powering 194 homes

San Diego store – opened in 2000; store size: 198,000 SF on 10 acresFUEL CELL PROGRAM: 200 kW generating 1,665,101 kWh/yearEquivalent to reducing 877 tons of CO2, 185 cars’ emissions or powering 130 homes

Drawing from its Swedish heritage and respect of nature, IKEA strives to minimize its operations’ carbon emissions because reducing its environmental impact makes good business sense. IKEA evaluates locations for conservation opportunities, integrates innovative materials into product design, works to maintain sustainable resources, and flat-packs goods for efficient distribution. U.S. sustainable efforts include: recycling waste material; incorporating key measures into buildings with energy-efficient HVAC and lighting systems, recycled construction materials, warehouse skylights, and water-conserving restrooms; and operationally, no plastic bags in the check-out process, and selling only LED bulbs/fixtures. IKEA U.S. has installed electric vehicle charging stations at 14 locations and solar arrays at 90% of its locations, integrated two geothermal projects at two store locations and owns two wind farms.

Since its 1943 founding in Sweden, IKEA has offered home furnishings of good design and function at affordable prices. There are currently more than 380 IKEA stores in 48 countries, including 42 in the U.S. IKEA has been ranked among “Best Companies to Work For” and, as further investment in its coworkers, has raised its own minimum wage twice in two years. 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.

Contact:
Joseph Roth
U.S. Public Affairs
(610) 834-0180, ext. 6500

Source: IKEA

IKEA announces plans for a second store in Virginia

CONSHOHOCKEN, PA , 2016-Jun-24 — /EPR Retail News/ — IKEA, the world’s leading home furnishings retailer, today announced it is submitting plans to the City of Norfolk, Virginia for a store that would increase the Swedish company’s presence in the Southeastern U.S. as its second store in Virginia. Pending approvals, construction of the proposed IKEA Norfolk store could begin in Spring 2017, with an opening in Summer 2018. Until then, customers can shop at IKEA stores in Woodbridge, VA and Charlotte, NC, or online at IKEA-USA.com.

Located centrally within the Hampton Roads area, and eight miles east of downtown Norfolk, the 331,000-square-foot proposed IKEA store and 1,000 parking spaces would be built on 19 acres at the northwestern corner of Interstate 64 and Northampton Boulevard. Store plans reflect the same unique architectural design for which IKEA stores are known worldwide. IKEA also will evaluate potential on-site power generation to complement its current U.S. renewable energy presence at nearly 90% of its U.S. locations.

“We are excited at the possibility of growing our Southeastern U.S. presence with a Norfolk store,” said IKEA U.S. president Lars Petersson. “A location in this retail corridor would provide our nearly 35,000 Hampton Roads customers their own store and introduce the unique IKEA shopping experience to others throughout southeast Virginia.”

The proposed IKEA Norfolk would feature nearly 10,000 exclusively designed items, 50 inspirational room-settings, three model home interiors, a supervised children’s play area, and a 450-seat restaurant serving Swedish specialties such as meatballs with lingonberries and salmon plates, as well as American dishes. Other family-friendly features include a ‘Children’s IKEA’ area in the Showroom, baby care rooms, play areas throughout the store, and preferred parking. In addition to the more than 500 jobs that are expected during the construction phase, approximately 250 coworkers would join the IKEA family when the new store opens. IKEA Norfolk also would provide significant annual sales and property tax revenue for local governments and schools.

This project would represent the third significant investment by IKEA in the state of Virginia. Besides this proposed Norfolk store and the store in Woodbridge, there also is an IKEA furniture factory in Danville that opened in 2008.

Drawing from its Swedish heritage and respect of nature, IKEA strives to minimize its operations’ carbon emissions because reducing its environmental impact makes good business sense. IKEA evaluates locations regularly for conservation opportunities, integrates innovative materials into product design, works to maintain sustainable resources, and flat-packs goods for efficient distribution. U.S. sustainable efforts include: recycling waste material; incorporating key measures into buildings with energy-efficient HVAC and lighting systems, recycled construction materials, warehouse skylights, and water-conserving restrooms; and operationally, eliminating plastic bags from the check-out process, and selling only LED bulbs/fixtures. IKEA U.S. has installed electric vehicle charging stations at 13 locations and solar arrays at 90% of its locations, and owns two wind farms in the U.S.

Since its 1943 founding in Sweden, IKEA has offered home furnishings of good design and function at affordable prices. There are currently more than 380 IKEA stores in 48 countries, including 42 in the U.S. IKEA has been ranked among “Best Companies to Work For” and, as further investment in its coworkers, has raised its own minimum wage twice in two years. 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.

Contact:
Joseph Roth, Expansion Public Affairs
(610) 834-0180, x 6500

Source: IKEA