Kroger declares quarterly dividend of 12¢ per share and announces incremental $500 million share repurchase program

CINCINNATI, 2017-Mar-13 — /EPR Retail News/ — The Kroger Co.’s (NYSE: KR) Board of Directors today declared a quarterly dividend of 12¢ per share to be paid on June 1, 2017 to shareholders of record as of the close of business on May 15, 2017.

Kroger today (3/9/2017 ) also announced an incremental $500 million share repurchase program, supplementing the current authorization, which has approximately $120 million remaining as of March 8, 2017.

“Kroger’s share repurchase authorization reflects our Board of Directors’ confidence in our long-term strategy and our ability to generate value for shareholders,” said Rodney McMullen, Kroger’s chairman and CEO. “We remain committed to delivering value to shareholders. Over the last four quarters, the company has returned more than $2.2 billion to shareholders through share buybacks and dividends combined.”

Kroger has delivered double-digit compound growth in its dividend since it was reinstated in 2006. The company expects, subject to board approval, to have an increasing dividend over time.

Every day, the Kroger Family of Companies makes a difference in the lives of eight and a half million customers and 443,000 associates who shop or serve in 2,796 retail food stores under a variety of local banner names in 35 states and the District of Columbia. Kroger and its subsidiaries operate an expanding ClickList offering – a personalized, order online, pick up at the store service – in addition to our 2,255 pharmacies, 784 convenience stores, 319 fine jewelry stores, 1,445 supermarket fuel centers and 38 food production plants in the United States. Kroger is recognized as one of America’s most generous companies for its support of more than 100 Feeding America food bank partners, breast cancer research and awareness, the military and their families, and more than 145,000 community organizations including schools. A leader in supplier diversity, Kroger is a proud member of the Billion Dollar Roundtable.

This press release contains a forward-looking statement, as that term is defined in the Private Securities Litigation Reform Act of 1995, about the future performance of the company. This statement is based on management’s assumptions and beliefs in light of the information currently available to it. Such statement is indicated by the word “expect.”  Our ability to continue to increase our dividend over time, will be affected by our inability to generate free cash flow at the levels anticipated and our failure to generate expected operating results.   This forward-looking statement is subject to uncertainties and other factors that could cause actual results to differ materially. We assume no obligation to update the information contained herein. Please refer to Kroger’s reports and filings with the Securities and Exchange Commission for a further discussion of these risks and uncertainties.

SOURCE The Kroger Co.

Kroger Family of Stores Media Contacts

The Kroger Co. – General Office

Keith Dailey
Director, Media Relations/Corporate Communications
Office: 513-762-1304
Cell: 513-257-4955
Email: keith.dailey@kroger.com

The Children’s Place announces new $250 million share repurchase program and 100% increase in its quarterly dividend

SECAUCUS, N.J., 2017-Mar-10 — /EPR Retail News/ — The Children’s Place, Inc.(Nasdaq:PLCE), the largest pure-play children’s specialty apparel retailer in North America, today announced that its Board of Directors has approved a new $250 million share repurchase program and has increased the Company’s quarterly dividend to $0.40 per share from $0.20 per share.

Jane Elfers, President and Chief Executive Officer, commented, “Since 2009, we have returned over $790 million to shareholders through share repurchases and dividends. The significant increase in our quarterly dividend brings our annual dividend yield more in line with that of our specialty peers. This dividend increase and the new share repurchase authorization reflect our confidence in our ability to execute on our strategic initiatives and our continuing commitment to return excess capital to shareholders.”

The Board declared a quarterly cash dividend of $0.40 per share to be paid May 1, 2017 to shareholders of record at the close of business on April 10, 2017. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Company’s Board of Directors based on a number of factors, including business and market conditions, the Company’s future financial performance and other investment priorities.

The share repurchase authorization announced today permits the Company to repurchase shares in the open market at current market prices at the time of purchase or in privately negotiated transactions. The timing and actual number of shares repurchased under the program will depend on a variety of factors including price, corporate and regulatory requirements, and other market and business conditions, and the Company may suspend or discontinue the program at any time, and may thereafter reinstitute purchases, all without prior announcement.

About The Children’s Place, Inc.
The Children’s Place is the largest pure-play children’s specialty apparel retailer in North America.  The Company designs, contracts to manufacture, sells at retail and wholesale, and licenses to sell fashionable, high-quality merchandise at value prices, primarily under the proprietary “The Children’s Place,” “Place” and “Baby Place” brand names.  As of January 28, 2017, the Company operated 1,039 stores in the United States, Canada and Puerto Rico, an online store at www.childrensplace.com, and had 150 international points of distribution open and operated by its 6 franchise partners in 17 countries.

Forward Looking Statement

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements relating to the Company’s strategic initiatives and adjusted net income per diluted share.  Forward-looking statements typically are identified by use of terms such as “may,” “will,” “should,” “plan,” “project,” “expect,” “anticipate,” “estimate” and similar words, although some forward-looking statements are expressed differently.  These forward-looking statements are based upon the Company’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results and performance to differ materially. Some of these risks and uncertainties are described in the Company’s filings with the Securities and Exchange Commission, including in the “Risk Factors” section of its Annual Report on Form 10-K for the fiscal year ended January 30, 2016. Included among the risks and uncertainties that could cause actual results and performance to differ materially are the risk that the Company will be unsuccessful in gauging fashion trends and changing consumer preferences, the risks resulting from the highly competitive nature of the Company’s business and its dependence on consumer spending patterns, which may be affected by weakness in the economy that continues to affect the Company’s target customer, the risk that the Company’s strategic initiatives to increase sales and margin are delayed or do not result in anticipated improvements, the risk of delays, interruptions and disruptions in the Company’s global supply chain, including resulting from foreign sources of supply in less developed countries or more politically unstable countries, the risk that the cost of raw materials or energy prices will increase beyond current expectations or that the Company is unable to offset cost increases through value engineering or price increases, and the uncertainty of weather patterns. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contact: Robert Vill, Group Vice President, Finance, (201) 453-6693

SOURCE: Children’s Place, Inc. / GLOBE NEWSWIRE

The Children’s Place, Inc. approves new $250 million share repurchase program and declares quarterly dividend

  • Increases Authorized Stock Repurchases by $250 Million
  • Declares Quarterly Dividend

SECAUCUS, N.J., 2015-12-10 — /EPR Retail News/ — The Children’s Place, Inc.(Nasdaq:PLCE), the largest pure-play children’s specialty apparel retailer in North America, today announced that its Board of Directors has approved a new $250 million share repurchase program and has declared a quarterly dividend.

Jane Elfers, President and Chief Executive Officer, commented, “Since 2009, we have returned over $582 million to shareholders through share repurchases and dividends. The continuation of our quarterly dividend and the new share repurchase authorization reflect our confidence in our ability to execute on our strategic initiatives and our continuing commitment to return excess capital to shareholders.”

The Board declared a quarterly cash dividend of $0.15 per share to be paid January 7, 2016 to shareholders of record at the close of business on December 17, 2015. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Company’s Board of Directors based on a number of factors, including business and market conditions, the Company’s future financial performance and other investment priorities.

The share repurchase authorization announced today permits the Company to repurchase shares in the open market at current market prices at the time of purchase or in privately negotiated transactions. The timing and actual number of shares repurchased under the program will depend on a variety of factors including price, corporate and regulatory requirements, and other market and business conditions, and the Company may suspend or discontinue the program at any time, and may thereafter reinstitute purchases, all without prior announcement.

About The Children’s Place, Inc.
The Children’s Place is the largest pure-play children’s specialty apparel retailer in North America. The Company designs, contracts to manufacture, sells at retail and wholesale, and licenses to sell fashionable, high-quality merchandise at value prices, primarily under the proprietary “The Children’s Place,” “Place” and “Baby Place” brand names. As of October 31, 2015, the Company operated 1,085 stores in the United States, Canada and Puerto Rico, an online store at www.childrensplace.com, and had 90 international stores open and operated by its franchise partners in 12 countries.

Forward Looking Statements

This press release may contain certain forward-looking statements regarding future circumstances, including statements relating to the Company’s strategic initiatives and adjusted net income per diluted share. These forward-looking statements are based upon the Company’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results and performance to differ materially. Some of these risks and uncertainties are described in the Company’s filings with the Securities and Exchange Commission, including in the “Risk Factors” section of its annual report on Form 10-K for the fiscal year ended January 31, 2015. Included among the risks and uncertainties that could cause actual results and performance to differ materially are the risk that the Company will be unsuccessful in gauging fashion trends and changing consumer preferences, the risks resulting from the highly competitive nature of the Company’s business and its dependence on consumer spending patterns, which may be affected by the weakness in the economy that continues to affect the Company’s target customer, the risk that the Company’s strategic initiatives to increase sales and margin are delayed or do not result in anticipated improvements, the risk that the cost of raw materials or energy prices will increase beyond current expectations or that the Company is unable to offset cost increases through value engineering or price increases, and the uncertainty of weather patterns. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material.

CONTACT: Robert Vill, Group Vice President, Finance, (201) 453-6693

SOURCE: Children’s Place, Inc.

BJ’s Restaurants increases its share repurchase program to $250 million

Balanced Capital Allocation Policy Resulted in $187 Million of Common Stock Share Repurchases Since Plan Inception While Continuing Double Digit New Restaurant Growth

HUNTINGTON BEACH, Calif., 2015-12-10 — /EPR Retail News/ — BJ’s Restaurants, Inc.(NASDAQ:BJRI) today announced that its Board of Directors approved a $50 million increase to the Company’s share repurchase program to $250 million. The Company has repurchased and retired approximately $187 million shares of its common stock since the program was first approved inApril 2014, including approximately $21.2 million repurchased in the 2015 fourth quarter to date. With this increase, the Company has approximately $63 million available under its $250 millionshare repurchase program.

“BJ’s is uniquely positioned in our industry as a growth concept that simultaneously returns capital to shareholders while maintaining a strong balance sheet and financial position,” commented Greg Trojan, President and Chief Executive Officer. “Our strong operating results, as reflected by the significant year over year rise in operating income for the first nine months of 2015, combined with our restaurant expansion plan which delivers double digit unit growth, is enabling the Company to opportunistically repurchase shares. The repurchase program expansion announced today represents the third time the Board has expanded our repurchase authorization since the program was first implemented in April 2014.

“Importantly, our significant cash flow growth over the last two years allows us to maintain balance sheet prudence, with just $67.5 million of funded debt at September 30, 2015, while expanding our restaurant base and returning capital to our shareholders. Over the last two years, we have opened 27 total new restaurants and we plan to open 18 or 19 new restaurants in fiscal 2016. We believe we are one of a few restaurant companies that can grow our unit base in low double digits while simultaneously returning capital to our shareholders. With just 171 restaurants open as of today, and estimated domestic capacity for at least 425 BJ’s restaurants, we have many years of restaurant growth opportunities ahead.”

Pursuant to the share repurchase authorization, purchases may be made from time to time through various methods in accordance with applicable securities laws, including open market transactions, block trades, accelerated share repurchases, privately negotiated transactions or otherwise, certain of which may be effected pursuant to a trading plan adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.  The timing and actual amount of shares to be purchased will be subject to management’s evaluation of market conditions, applicable legal requirements, the Company’s ongoing evaluation of its capital position and capital requirements and other factors.  The Company is not obligated to purchase any additional shares under its expanded repurchase program, and repurchases may be suspended or discontinued at any time without prior notice.

BJ’s Restaurants, Inc. currently owns and operates 171 casual dining restaurants under the BJ’s Restaurant & Brewery®, BJ’s Restaurant & Brewhouse®, BJ’s Pizza & Grill® and BJ’s Grill® brand names. BJ’s Restaurants offer an innovative and broad menu featuring award-winning, signature deep-dish pizza complemented with generously portioned salads, appetizers, sandwiches, soups, pastas, entrees and desserts, including the Pizookie® dessert. Quality, flavor, value, moderate prices and sincere service remain distinct attributes of the BJ’s experience. All restaurants feature BJ’s critically acclaimed proprietary craft beers, which are produced at several of the Company’s restaurant and brewery locations and independent third party craft brewers. The Company’s restaurants are located in the 22 states of Alabama, Arizona, Arkansas, California,Colorado, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Nevada, New Mexico, NewYork, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Virginia and Washington. VisitBJ’s Restaurants, Inc. on the Web at http://www.bjsrestaurants.com.

Certain statements in the preceding paragraphs and all other statements that are not purely historical constitute “forward-looking” statements for purposes of the Securities Act of 1933 and the Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. The “forward-looking” statements contained in this press release are based on current assumptions and expectations and BJ’s Restaurants, Inc. undertakes no obligation to update or alter its “forward-looking” statements whether as a result of new information, future events or otherwise. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements contained in the Company’s filings with the Securities and Exchange Commission, including its recent reports on Forms 10-K, 10-Q and 8-K.

For further information, please contact Greg Levin of BJ’s Restaurants, Inc. at (714) 500-2400 or JCIR at (212) 835-8500 or at bjri@jcir.com.

SOURCE: BJ’s Restaurants, Inc.

General Growth Properties, Inc. announced an increase of $500 million to its existing share repurchase program

CHICAGO, 2015-8-27— /EPR Retail News/ — General Growth Properties, Inc. (NYSE: GGP)(the “Company”) today announced that its Board of Directors authorized an increase of $500 million to the Company’s existing share repurchase program (the “Program”). Together with amounts previously authorized that have not been used for repurchases, the Company has approximately $600 million available for repurchases under the Program. The Program has no expiration date.General Growth Properties, Inc.General Growth Properties, Inc. is an S&P 500 company focused exclusively on owning, managing, leasing and redeveloping high quality retail properties throughout the United States. GGP is headquartered in Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP.

CONTACT:

Investor Contact:
General Growth Properties, Inc.
Kevin Berry, VP Investor Relations
kevin.berry@ggp.com
(312) 960-5529