Tag Archives: upgrades

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Hudson’s Bay Company upgrades its Scarborough Distribution Center with the largest Perfect Pick case shuttle system ever built

  • State-of the-art technology catapults HBC to the forefront of e-commerce distribution
  • New system operational in advance of important holiday shopping season

TORONTO, 2016-Nov-07 — /EPR Retail News/ — Hudson’s Bay Company (TSX:HBC) today (November 4, 2016) unveiled a new state-of-the-art robotic fulfillment system, which propels HBC’s Scarborough Distribution Center to the forefront of e-commerce distribution technology. The highly innovative distribution center is the first of its kind in Canada and showcases some of the most advanced automated distribution technology in the retail sector. This distribution center will contribute to a seamless experience for customers and further support Hudson’s Bay’s all-channel retail capabilities.

The system is the largest Perfect Pick case shuttle system ever built and is 12 to 15 times faster than a traditional manual process. It features 16 200-foot long aisles, utilizes the entire vertical height of the building, can hold more than one million units of inventory and can process roughly 4,200 customer orders per hour. Two custom-built document handling robots automate insertion of packing lists, while 15,000 feet of conveyor and a fleet of approximately 300 autonomous robotic delivery vehicles—iBOTs—move inventory for storing and shipping. The best-in-class technology will enable the company to deliver orders three times faster than distribution centers using the next best robotic technology. The investment to upgrade the entire distribution facility was in excess of $60 million.

“Our customers will benefit from the country’s fastest order shipping system,” said Jerry Storch, HBC’s Chief Executive Officer. “We are proud to be the first to bring this industry-leading technology to Canada, in time for the busy holiday season. This investment in our Scarborough Distribution Center creates an e-commerce technology hub and allows us to expand our e-commerce business, which is a key component to our all-channel strategy.”

The 752,000 square foot Scarborough Distribution Center supports e-commerce for HBC’s Hudson’s Bay department store. More than 300 full-time associates are employed at the center.

ABOUT HUDSON’S BAY COMPANY

Hudson’s Bay Company is one of the fastest-growing department store retailers in the world, based on its successful formula of driving the performance of high quality stores and their all-channel offerings, unlocking the value of real estate holdings and growing through acquisitions. Founded in 1670, HBC is the oldest company in North America. HBC’s portfolio today includes ten banners, in formats ranging from luxury to better department stores to off price fashion shopping destinations, with more than 470 stores and 66,000 employees around the world.

In North America, HBC’s leading banners include Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue, Gilt, and Saks OFF 5TH, along with Find @ Lord & Taylor and Home Outfitters. In Europe, its banners include GALERIA Kaufhof, the largest department store group in Germany, Belgium’s only department store group Galeria INNO, as well as Sportarena.

HBC has significant investments in real estate joint ventures. It has partnered with Simon Property Group Inc. in the HBS Global Properties Joint Venture, which owns properties in the United States and Germany. In Canada, it has partnered with RioCan Real Estate Investment Trust in the RioCan-HBC Joint Venture.

MEDIA CONTACT:
Hudson’s Bay Company
Tiffany Bourré
905-595-7184
Director, Corporate Communications
Tiffany.bourre@hbc.com

Source: Hudson’s Bay Company

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X5 Retail Group N.V. announces that Moody’s rating agency upgrades its outlook to positive from stable

Moscow, 2016-Jul-11 — /EPR Retail News/ — X5 Retail Group N.V. (“X5” or “the Company”), a leading Russian food retailer (LSE ticker: “FIVE”), announces that Moody’s rating agency has changed the outlook on the Company’s Ba3 corporate family rating (CFR) and the Ba3-PD probability of default rating (PDR) to “positive” from “stable”.

The agency stated that the main factors supporting the positive outlook on X5’s Ba3 rating are the Company’s resilience to industry cycles, which is proven by healthy operating results with market-leading revenue growth and a gradually improving financial profile.

Note to Editors:

X5 Retail Group N.V. (LSE: FIVE, Fitch – ‘BB’, Moody’s – ‘Ba3’, S&P – ‘BB-’) is a leading Russian food retailer. The Company operates several retail formats: the chain of proximity stores under the Pyaterochka brand, the supermarket chain under the Perekrestok brand, the hypermarket chain under the Karusel brand and Express convenience stores under various brands.

As of 31 March 2016, X5 had 7,397 Company-operated stores. It has the leading market position in both Moscow and St. Petersburg and a significant presence in the European part of Russia. Its store base includes 6,636 Pyaterochka proximity stores, 486 Perekrestok supermarkets, 91 Karusel hypermarkets and 184 convenience stores. The Company operates 35 DCs and 1,462 Company-owned trucks across the Russian Federation.

For the full year 2015, revenue totaled RUB 808,818 mln (USD 13,268 mln), Adjusted EBITDA reached RUB 59,413 mln (USD 975 mln), and net profit for the period amounted to RUB 14,174 mln (USD 233 mln).

X5’s Shareholder structure is as follows: Alfa Group – 47.86%, founders of Pyaterochka – 14.43%, X5 Directors – 0.06%, treasury shares – 0.02%, free float – 37.64%.

Forward looking statements:

This announcement includes statements that are, or may be deemed to be, “forwardlooking statements”. These forward-looking statements can be identified by the fact that they do not only relate to historical or current events. Forward-looking statements often use words such as “anticipate”, “target”, “expect”, “estimate”, “intend”, “expected”, “plan”, “goal”, “believe”, or other words of similar meaning.

By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, a number of which are beyond X5 Retail Group N.V.’s control. As a result, actual future results may differ materially from the plans, goals and expectations set out in these forward-looking statements.

Any forward-looking statements made by or on behalf of X5 Retail Group N.V. speak only as of the date of this announcement. Save as required by any applicable laws or regulations, X5 Retail Group N.V. undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this document that may occur due to any change in its expectations or to reflect events or circumstances after the date of this document.

For further details please contact:

Maxim Novikov
Head of Investor Relations
Tel.: +7 (495) 502-9783
e-mail: Maxim.Novikov@x5.ru

Andrey Vasin
Investor Relations Officer
Tel.:+7 (495) 662-88-88 ext. 21-456
e-mail: Andrey.Vasin@x5.ru

Source: X5 Retail Group