Blog Keyword - Midland PaperClips - fine paper, packaging and supply systems distributor

03.28.2013

American Forest & Paper Association Announces 2012 Paper Recovery Rate

The American Forest & Paper Association (AF&PA) today announced that 65.1 percent of paper consumed in the U.S. for 2012.

“Paper recovery is a success in our country because of the commitment millions of Americans make each day to recycling, whether it’s at home, work, or school,” said AF&PA President and CEO Donna Harman.

“Our industry’s success in paper recovery is due in large part to the voluntary, market-driven product recovery system that we and so many others have fostered,” said AF&PA Board Chairman and Graphic Packaging International President and CEO David Scheible. “We will continue supporting education programs and initiatives that help drive awareness to increase recovery.”

The annual paper recovery rate has nearly doubled since 1990 and remains above the trend line for the industry to achieve its goal of recovering more than 70 percent per year by 2020. Recovering paper for recycling is an integral part of the industry’s Better Practices, Better Planet 2020 sustainability initiative as it helps extend the life of paper and paper-based packaging products.

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03.28.2013

Norske Skog Temporarily Idling Newsprint Machine

The Norweigan paper company Norsk Skog has announced plans to idle one of its newsprint machines at its Skogn newsprint mill in Norway. In a statement, Norsk Skog says the move to cut production is a step to prevent an unnecessary build up of newsprint inventory.

The machine to be idled has an annual production capacity of 130,000 metric tons. Norsk Skog’s Skogn mill has an overall annual capacity of 550,000 metric tons.

The downtime is slated to take place in June, 2013.

Sven Ombudstvedt, president and CEO of Norsk Skog, says that the temporary cut in capacity at the Skog mill is required to create a better balance between demand and supply for newsprint in Europe and avoid unprofitable production at the mill.

The company also says that production at a machine still in operation at its Tasman mill in New Zealand will be reduced by removing 15,000 metric tons from the market due to a direct consequence of the energy price development in New Zealand.

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03.28.2013

International Paper Joins World Wildlife Fund's Global Forest & Trade Network

International Paper has joined the Global Forest & Trade Network in North America, one of World Wildlife Fund (WWF)'s initiatives focused on eliminating illegal logging and promoting environmentally and socially responsible forest management. International Paper joins a network of more than 200 companies and communities around the globe committed to the responsible forest management and sourcing of forest products.

"We have long been committed to responsible forestry everywhere we operate, and collaborating with WWF is an excellent way to demonstrate and grow that commitment," said Teri Shanahan, International Paper's vice president, Sustainability. The initial scope of International Paper's participation in GFTN will encompass fiber sourced for the company's North American and Brazilian mills, representing more than two thirds of its global fiber volume.

"By joining GFTN and increasing its sourcing of credibly certified fiber, International Paper – as the world's largest paper and packaging company – can use its purchasing power to drive improvements in responsible forestry around the globe," said Suzanne Apple, vice president of Business and Industry for WWF. "This kind of leadership is critical to conserving the places and species we are working so hard to protect."

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03.28.2013

dELiA*s, Inc. Announces Fourth Quarter and Year End Fiscal 2012 Results

dELiA*s, Inc., a multi-channel retail company comprised of two lifestyle brands primarily marketing to teenage girls and young women, today announced the results for its fourth quarter of fiscal 2012 (the fourth quarter of fiscal 2012 consisted of fourteen weeks compared to the fourth quarter of 2011, which consisted of thirteen weeks) and fiscal year 2012 (fiscal year 2012 consisted of fifty-three weeks compared to fiscal year 2011, which consisted of fifty-two weeks).

Fourth Quarter Fiscal 2012 Highlights:
Total revenue increased 1.0% to $66.2 million from $65.6 million in the prior year quarter. Revenue from the retail segment decreased 2.4% to $32.8 million, due to a reduction in store count and a comparable store sales decrease of 0.3%. Revenue from the direct segment increased 4.4% to $33.4 million on a catalog circulation increase of 1.0%.

Consolidated gross margin decreased to 31.4% compared to 32.3% in the prior year quarter.

Net loss was $10.7 million, or $0.34 per diluted share, compared to $4.2 million, or $0.13 per diluted share, in the prior year quarter. Included in the fourth quarter of fiscal 2012 were CEO transition costs of $0.6 million, or $0.02 per diluted share, and a goodwill impairment charge of $4.5 million, or $0.14 per diluted share.

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03.27.2013

Tembec to sell its NBSK pulp mill in Skookumchuck, British Columbia

Tembec Inc. announced today that it has reached an agreement to sell its NBSK pulp mill and related assets and liabilities located in Skookumchuck, British Columbia to Paper Excellence Canada Holdings Corporation (“Paper Excellence”) for a purchase price of $89 million, which includes working capital. Closing of the transaction is expected to occur in the second calendar quarter of 2013 and remains subject to certain conditions and regulatory approvals.

“This transaction supports the continuing transformation of the Company and the reshaping of its business portfolio,” stated Tembec President and CEO James Lopez.

Tembec acquired the Skookumchuck pulp mill in 1999 as part of the acquisition of Crestbrook Forest Industries Ltd. This mill, where 290 employees currently work, started up in 1968. Its pulp is shipped to North American and Asian customers primarily for tissue applications.

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03.27.2013

Standard Register Optimizes Operations with New Digital Print and Distribution Center

Standard Register has announced plans for a new national Center of Excellence for digital printing, kitting and distribution in Jeffersonville, Ind., which is in the greater Louisville, Ky. metropolitan area. This new 335,000 square foot center will provide Standard Register customers more flexible delivery options and improved speed-to-market for communications products, services and solutions.

The Indiana Economic Development Corporation offered Standard Register EDGE (Economic Development for a Growing Economy) tax credits and a training grant from the Skills Enhancement Fund in support of the project along with enterprise zone investment deductions from the River Ridge Development Authority.

“Standard Register’s $10 million investment in this new Center of Excellence allows us to operate more efficiently, advance our digital printing capabilities and leverage the deep capability of the local workforce to better serve our customers,” said Joseph P. Morgan, Jr., president and chief executive officer.

The new Center of Excellence, which is expected to be operational early in the third quarter of 2013, will leverage industry-leading technologies for advanced color management, planning and scheduling, and workflow management. The center will also offer distribution and kitting services similar to other Standard Register facilities including secure storage areas, order fulfillment, track and trace, and kitting, while also utilizing RF scanning, bar-coding, and RFID technology. The center’s proximity will provide easy access to United Parcel Service’s (UPS) Worldport, the world’s largest fully automated package handling facility. The combination of capabilities, technology, processes and location will allow Standard Register to meet customers’ current and evolving business requirements.

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03.27.2013

Shiner International Announces Financial Results for the Fourth Quarter and Fiscal Year 2012

Shiner International, Inc., an emerging global supplier of packaging solutions for food, tobacco and consumer products, today announced its financial results for the fourth quarter and fiscal year 2012.

Fourth Quarter 2012 Financial Performance

Revenues for the three months ended December 31, 2012 decreased $1.35 million (or 5.89%), to $21.56 million compared to $22.91 million for the corresponding 2011 period. The decrease was primarily attributable to decreased revenues from coated film, color printing advanced film and water-based latex, which was partially offset by increase in revenues generated from BOPP tobacco. For the three months ended December 31, 2012, revenue from coated film decreased $5.76 million (or 25.44%) to $16.88 million, from $22.64 million for the corresponding 2011 period, and sales from color printing decreased $2.44 million (or 42.51%) to $3.30 million, from $5.74 million for the corresponding 2011 period. For the three months ended December 31, 2012, revenue from BOPP tobacco increased $6.35 million (or 16.53%) to $44.76 million, from $38.41 million for the corresponding 2011 period; revenue from advanced film decreased $1.39 million (or 17.10%) to $6.74 million, from $8.13 million for the corresponding 2011 period; and revenue from water-based latex decreased $0.02 million (or 5.26%) to $0.36 million, from $0.38 million for the corresponding 2011 period.

Shiner's gross profit for the three months ended December 31, 2012 was $0.53 million, a profit margin of 2.46%, a decrease of 10.69% from 13.15% for the corresponding 2011 period. The decrease in profit margin was primarily a consequence of an increase in labor costs and depreciation of new property.

Operating loss for the three months ended December 31, 2012 was $5.40 million, compared to an operating loss of $0.81 million for the same quarter ended December 31, 2011. Selling, general and administrative expenses for the three months ended December 31, 2012 decreased by 44.76%, or $1.71 million, to $2.11 million in 2012, compared to $3.82 million for the corresponding 2011 period. General and administrative expenses decreased during the 2012 period mainly due to a $0.40 million decrease in insurance and a $0.30 million decrease in sales commissions. There was also an increase of $2.04 million and $1.78 million in impairment loss of goodwill and patents, respectively, during the 2012 period.

Shiner reported a net loss of $4.98 million for the three months ended December 31, 2012, compared to a net loss of $0.55 million in the same period of 2011. Earnings per share for the quarter were ($0.18), compared to earnings of ($0.02) per share for the same period of 2011.

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03.27.2013

RDA Gets Approval for Bankruptcy Financing Agreement

RDA Holding Co., which owns The Reader’s Digest Association, has received approval for a key part of its bankruptcy reorganization: the U.S. Bankruptcy Court for the Southern District of New York has approved a plan that will raise $105 million to fund ongoing operations as part of a “debtor-in-possession” financing agreement.

Along with the financing agreement, the court also granted approval to measures to help RDA continue its business operations, including authority to pay employees and freelancers on normal schedules.

The company filed its reorganization plan and disclosure statement on Thursday, March 21, and is due back in court April 25 for a hearing to consider approval of the disclosure statement.

RDA filed for bankruptcy protection in February -- its second Chapter 11 filing in four years. At the time, the company said it had already obtained the consent of over 70% of its secured note-holders to convert approximately $465 million of debt into equity in the company, thus giving creditors a stake in the company in exchange for wiping out debt.

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03.27.2013

Mario Plourde to Succeed Alain Lemaire as President of Cascades

Today, Alain Lemaire, in the company of his brothers Bernard and Laurent Lemaire, announced that he will be passing the position of President and Chief Executive Officer of Cascades to Mario Plourde, now Chief Operating Officer of the company. The transfer will take place on May 9, following a two-year transition period.

Lemaire made this important announcement this morning at a press conference. He also indicated that he will continue to serve as Chairman of the Board of Directors. "Of course, I will continue to support Mario in his daily activities, and I also intend to remain involved with the company, returning to my original passion by putting my technical skills to use in the various groups," he added. Bernard and Laurent will also remain active, continuing to serve on the Board of Directors and the Executive Committee, and participating in the company's strategic planning.

"In February 2011, we announced the nomination of Mario Plourde to the position of Chief Operating Officer. He belongs to the new generation of competent and dedicated leaders at Cascades, and he is a true believer in our values. At the same time, we announced the beginning of a transition process that would ensure a sound business succession. We had a plan, and we carried it out. After nearly 10 years at the head of the company, my brothers and I feel it is time to pass on the torch and make room for the younger generation," said Alain Lemaire.

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03.27.2013

WTI Drops From Near Five-Week High as U.S. Crude Supplies Rise

West Texas Intermediate slipped from near a five-week high amid rising crude inventories in the U.S., the world’s biggest consumer of the commodity.

Futures fell as much as 0.5 percent. Crude stockpiles advanced 3.7 million barrels last week, the American Petroleum Institute said yesterday. The euro fell to its weakest level since Nov. 21 against the dollar, undermining the appeal of commodities priced in the U.S. currency. An Energy Department report today may show a gain of 1.3 million, according to a Bloomberg News survey. WTI rose 1.6 percent yesterday, the most this year, as U.S. durable goods orders and home prices climbed more than economists forecast.

“The crude inventory builds reported last night are weighing on prices,” said Robert Montefusco, a senior broker at Sucden Financial Ltd. in London, who earlier this month correctly predicted oil prices would decline. “The euro is getting bashed as Europe’s situation looks dire, which is also pressuring oil.”

WTI for May delivery dropped as much as 49 cents to $95.85 a barrel in electronic trading on the New York Mercantile Exchange, trading for $95.91 at 9:37 a.m. London time.

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03.27.2013

Newton Falls sale as intact paper mill fails

The sale of the Newton Falls paper mill as an intact operation has failed and the assets will be liquidated in the latest turn of events surrounding the plant.

Scotia Investments Vice President Robert G. Patzelt wrote in an email that the special bid received at the end of an auction Thursday for the entirety of the mill’s equipment was terminated during finalization of the details.

“The owners are disappointed with this development as they put tremendous time and effort into selling the entire mill which was seen to be in the best interest of all the stakeholders and especially the mill and the community,” Mr. Patzelt wrote. “Ideally, we wanted the mill to be sold as a going concern, or, in its current state of being ready to be reopened by another party.”

Scotia will proceed with the disposition of the mill’s assets in an orderly manner, he wrote.

“We have entered discussions with the successful bidders who participated in the auction last Thursday. It is our hope that as many as possible will purchase the assets bid upon,” Mr. Patzelt wrote. “All other assets will be sold to interested parties in due course.”

Scotia Investments, Halifax, Nova Scotia, the parent company of Newton Falls Fine Paper, operated the mill from 2007 to 2010. Last summer, the owners changed their focus from finding an equity partner to restart the mill to one of finding a buyer.

“For the past 27 months, the mill and its machinery has been preserved in a state of readiness and a core team of ten people has been employed on site managing the process, conducting tours with interested parties and ensuring the mill and site is secure,” Mr. Patzelt wrote.

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03.27.2013

Verso Paper Corp. Awards Verso Forest Certification Grant to PalletOne of Maine

Verso Paper Corp. today announced that PalletOne of Maine has been selected to receive a Verso Forest Certification Grant. The grant will enable PalletOne to seek independent Forest Stewardship Council™ (FSC®) Chain of Custody (COC) certification for its pallet mill operation in Livermore Falls, Maine.

PalletOne already purchases a portion of its wood supply from FSC-certified forests in New England and sells residual wood chips to Verso's paper mill in nearby Jay, Maine. Achieving COC certification will allow PalletOne to increase the amount of FSC-certified material available to Verso and ultimately to Verso's paper customers who prefer FSC-certified products. In addition to the grant, Verso will provide technical expertise to assist in the certification process.

"Verso has a long history of promoting sustainability by supporting a variety of certification initiatives within our wood supply chain," said Verso Fiber Supply Manager Jim Contino. "We launched the Verso Forest Certification Grant program last year to increase certified fiber available to our mills, and the PalletOne project is well suited to our criteria. PalletOne is a trusted and long-term chip supplier to Verso's Androscoggin Mill and we are pleased to award this grant as part of our ongoing effort to increase the availability of certified fiber in the marketplace."

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03.27.2013

Bertelsmann is growing and progressing in reshaping the Group

Bertelsmann has made good progress in reshaping the Group, and for the ongoing process can rely on strong financials for 2012: growth in revenues, a stable operating EBIT, and a slight increase in Group profit. In the years ahead, Bertelsmann is targeting for continued organic and acquisition growth. First steps are the planned combination of Random House and Penguin as one of the world's leading book publishers; the complete ownership of the music rights company BMG; and the establishment and expansion of new, mainly digital, businesses in sectors and regions with high-growth potential.

Bertelsmann Chairman & CEO Thomas Rabe said: “Bertelsmann is undergoing a fast-paced and sustained process of change. In 2012, and in the first months of this year, we made important strategic decisions for improving our growth profile. This will have a positive impact already in this current year: Both the future combination for our book publishing business and the BMG full acquisition, once the regulatory approvals have been received, will result in significant additions to our revenues. We will maintain this accelerated pace, particularly in the expansion of our growth platforms, such as television production, financial services, rights management, and education. Additionally, we plan to launch business information as a new area of enterprise. All these measures are aimed at making Bertelsmann a faster-growing, more digital, and more international company over the next few years. We are well on track to achieve this.”

Positive impetus in 2012 mainly came from the Random House book-publishing group’s strong portfolio of bestsellers, from the German TV business, and growing services businesses. In a difficult economic environment, Group revenue in 2012 grew by 4.5 percent to €16.1 billion (previous year: €15.4 billion); organic growth was 3.1 percent. The year’s operating EBIT of €1.74 billion was nearly on par with the high level of the prior year (previous year: €1.76 billion). Record results from important divisional profit centers contributed to this: for example, from the book sector overall; Mediengruppe RTL Deutschland; Gruner + Jahr’s China business; and Arvato Infoscore’s financial services unit. This was offset by declining sales in some major advertising markets – especially in the print sector – and scheduled expenditure for reshaping the Group.

The return on sales of 10.8 percent (previous year: 11.4 percent) demonstrates that profitability remains at a good level. Despite the impact of high special items, mainly in structurally declining businesses like printing, replication, and direct marketing, as well as the media businesses in Southern Europe, Group profit increased slightly to €619 million after €612 million in the prior year.

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03.26.2013

PPPC Releases North American Printing & Writing Data for Feb 2013

Total North American printing and writing paper shipments fell 8.5% year over year in February, off from an approximate 1% drop in January. The February comp was 300 basis points tougher. Shipments are off 4.6% year to date.

Shipments slipped 11.2% sequentially (normal 6% seasonal sequential drop). This brings shipment activity to a new 13+ year low. February shipments were a level 10% below the 12-month rolling average. Adjusting for calendar days, shipments fell 1.6% month over month, to a level 2% below the 12-month average.

Imports rose 2.8% year over year but fell 0.5% sequentially. Imports were nearly 6% below the 12-month average. Imports are up 1.3% year to date. Exports fell 3% year over year and 9.5% sequentially. February exports were about 1% below the 12-month average. Exports are up 4.5% year to date.

Net imports rose about 11.5% year over year and 13% month over month. February net imports were 10.5% below of the 12-month run rate.

Demand was slightly stronger than shipments, off 7.7% year over year. This compares to more modest 1.7% erosion in January. Demand fell 10% sequentially. February demand was 10% below the 12-month average. Demand is off 4.4% year to date.

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03.26.2013

Congress Passes Continuing Resolution to Preserve Saturday Mail

Both the Senate and the U.S. House of Representatives approved legislation that blocks the U.S. Postal Service's plan to halt Saturday delivery of periodicals, first-class and standard mail. The Government Accountability Office (GAO) also determined this week that the USPS is bound by the ruling, due to the financial support provided by the U.S. Government. The legislation is a continuing resolution that preserves mandatory six-day mail delivery. The USPS argues its plan still adheres to the law because it will be maintaining package and Priority Mail deliveries.

Prior to Congress's resolution, the USPS was planning to carry out its scheduling changes in August, however there now seems to be uncertainties going forward. The continuing resolution still needs final approval from President Obama. Once in place, the USPS must decipher the language within the provision and determine how it effects its planned schedule changes. In other words, the USPS may still be upholding the law by altering its six-day service.

As it stands, the USPS is losing approximately $25 million dollars a day. It's reported that scaling back Saturday delivery will save the government-funded private entity upwards of $2 billion annually.

Eliminating Saturday delivery is one step towards closing a $20 billion budget gap by 2016.

It is also important to note that several public polls support the USPS's decision to scale back its Saturday delivery. However, this it is likely not a sentiment weekly magazine publishers share, as it means tighter editorial schedules.

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03.26.2013

Domtar Corporation, one of the largest manufacturers and distributors of paper in North America, has signed, through its operating subsidiaries, an agreement to acquire Xerox's (NYSE: XRX) paper and print media products business in the United States and Canada.

"The Xerox brand is well regarded in the paper markets it serves," said John D. Williams, Domtar's President and Chief Executive Officer. "This deal brings together Xerox's branded papers with Domtar's already comprehensive paper offering and will allow us to better serve our customers."

While Xerox does not manufacture paper, the company has long distributed through its brand name a broad range of coated and uncoated papers and specialty print media including business forms as well as carbonless and wide-format paper. This business will now become part of Domtar's pulp and paper segment, and Domtar will market and distribute Xerox-branded paper and print media.

"As Xerox broadens its business to focus more on services and innovative document technology, we saw an opportunity for our paper business clients to be better served by a leader in the industry," said Frank Edmonds, senior vice president, Xerox Global Paper and Supplies Distribution Group. "It's an across-the-board win. Xerox benefits through a trademark licensing agreement with Domtar; Domtar adds a well-regarded brand to its portfolio; and our respective clients get a simplified, 'one-stop' experience through Domtar's extensive offerings and distribution network."

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03.26.2013

Harte-Hanks, Inc., a worldwide direct and targeted marketing company, announced today the immediate availability of high-speed digital print capabilities that make direct mail relevant, resonant and a fully integrated part of today’s multi-channel marketing environment. Harte-Hanks’s investment in digital print technology is a key part of the company’s commitment to reach the right customer, with the right message, through the right channel, at the right time.

“The excitement and promise of email communications was premised on personalization, and now Harte-Hanks is delivering via digital print that same ability to quickly create highly variable, customized content to our direct mail customers,” said Tony Paul, executive vice president, customer delivery, Harte-Hanks Direct Marketing. “Now, each mail moment becomes a data-driven ‘touch’ that is an integral part of insight-driven omnichannel marketing strategies that integrate and automate content across all channels in order to engage and interact with customers at every step of their purchase journey.”

Harte-Hanks’s digital print solution increases customization, maximizes operating and postal savings and automates the marketing process to increase direct mail ROI while allowing customers to craft personalized offers and messages quickly and easily. The company is an industry leader in direct marketing, providing strategic and tactical best practices based on over 40 years of direct mail experience, offering coast-to-coast and worldwide geographic presence, a strong relationship with the United States Postal Service, and effective end-to-end program management.

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03.26.2013

EUROGRAPH Publishes February 2013 Statistics for the European Graphic Papers Industry

Total European shipments of Graphic Papers declined 6.5% vs. February 2012 and are down 3.2% year-to-date.

Total European shipments of Newsprint declined 6.7% vs. February 2012 and are down 5.0% year-to-date.

Total European shipments of SC-Magazine declined 4.6% vs. February 2012 and are down 0.9% year-to-date.

Total European shipments of Coated Mechanical Reels declined 9.6% vs. February 2012 and are down 6.5% year-to-date.

Total European shipments of Uncoated Mechanical increased 2.3% vs. February 2012 and are up 3.2% year-to-date.

Total European shipments of Coated Woodfree declined 6.3% vs. February 2012 and are down 2.2% year-to-date.

Total European shipments of Uncoated Woodfree declined 7.2% vs. February 2012 and are down 1.8% year-to-date.

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03.26.2013

Publishers challenge book resale ruling

US publishers are poised to take their battle to stop books bought abroad being resold in the US to Congress, after the Supreme Court ruled against them in a case that will have broad implications for global commerce.

In the case of Kirtsaeng v Wiley, the court ruled in favour of Supap Kirtsaeng, a California student who asked his family in Thailand to buy textbooks for him at low international prices so he could resell them at a profit on eBay.

Shares in educational publishing companies fell slightly in the wake of the decision, as analysts warned that the grey market for textbooks could affect up to 50 per cent of a publisher’s educational business.

Tom Allen, president and chief executive of the Association of American Publishers, said his group was prepared to defend publishers’ rights in any legislative action pursued by lawmakers in Congress.

“[The] copyright decision by the US Supreme Court ignores broader issues critical to America’s ability to compete in the global marketplace,” he said in a statement.

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03.26.2013

WTI Oil Trades Near Five-Week High; U.S. Stockpiles Seen Rising

West Texas Intermediate traded close to the highest level in five weeks. U.S. crude inventories probably rose as domestic output stayed near the strongest in two decades, a Bloomberg News survey showed.

Futures were little changed after advancing a second day yesterday. Crude stockpiles increased by 1.4 million barrels to 384.1 million last week, the highest since June, according to the median of seven analyst estimates before an Energy Information Administration report tomorrow. Saudi Arabian Oil Co., the world’s biggest crude exporter, expects to become the top producer of refined products, Khalid al-Falih, the company’s chief executive officer, said today in Beijing.

“Prices have come down to more realistic levels and we expect them to remain here,” said Filip Petersson, a commodities strategist at Stockholm-based SEB AB, who predicts that Brent, the European benchmark, will average $107.50 a barrel during the second quarter.

WTI for May delivery was at $95.22 a barrel, up 41 cents, in electronic trading on the New York Mercantile Exchange at 9:49 a.m. in London.

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03.26.2013

Penton consolidates Farm Progress brands in new ag group

Four months after acquiring Farm Progress Cos. from Fairfax Media, Penton Media has announced a new structure for its Agricultural Group that integrates the recently added properties.

As part of the restructuring, five Farm Progress brands that overlapped with Penton's geographic coverage—Carolina-Virginia Farmer, Southern Farmer, Mid-South Farmer, The Farmer-Stockman and California Farmer—will be shuttered. Penton's Farm Industry News will be recast to cover technology for production agriculture. Eighteen positions were eliminated in the reorganization.

Audience development, technology and production support for the combined businesses will be consolidated under existing Penton operations.

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03.26.2013

Kohl's Department Stores Recognized with 2013 Energy Star® Partner of the Year - Sustained Excellence Award

Kohl’s Department Stores today announced it will be recognized by the U.S. Environmental Protection Agency (EPA) as a recipient of the 2013 ENERGY STAR® Partner of the Year – Sustained Excellence Award for the company’s continued leadership in protecting the environment through superior energy efficiency initiatives. According to EPA, the 2013 Partner of the Year – Sustained Excellence Awards are given to a select group of organizations that have exhibited outstanding leadership year after year. Award recipients have reduced greenhouse gas emissions by setting and achieving aggressive goals and employing innovative energy efficiency approaches. Award winners are selected from the nearly 20,000 organizations that participate in the ENERGY STAR program. Kohl’s also received a Sustained Excellence Award in 2012 and Partner of the Year Awards in 2011 and 2010.

“Kohl’s is honored to be recognized by EPA with a 2013 Sustained Excellence Award,” said John Worthington, Kohl’s chief administrative officer. “As a major retailer with stores and corporate facilities nationwide, it is our responsibility to carefully manage our use of resources and strive to reduce our carbon footprint. Our partnership with ENERGY STAR has been instrumental in providing tools to assess the performance of our buildings, set strategy and develop action plans. Since joining the program in 1998, we have been able to ENERGY STAR certify nearly two-thirds our stores. This accomplishment translates to both cost savings and more efficient operations.”

"EPA is recognizing Kohl’s for earning EPA’s highest ENERGY STAR award - the 2013 Partner of the Year - Sustained Excellence Award,” said Bob Perciasepe, EPA’s acting administrator. “Kohl’s leads the field with their commitment to energy efficiency and demonstrates how all Americans can save energy, save money and create a healthier environment.”

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03.22.2013

Starbucks to expand loyalty program to Teavana and supermarkets

Seattle -- Starbucks Coffee Co. is expanding its customer loyalty program to the supermarket channel and its Teavana stores as it looks to double membership from 4.5 million members at the end of October 2012 to approximately nine million members by the end of fiscal 2013.

Starbucks made the announcement at the company’s annual shareholders on Wednesday in Seattle. Also at the meeting, Starbucks investors rejected a shareholder proposal to prohibit the chain from making political contributions or forming a political action committee.

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03.22.2013

Deloitte: Consumer spending remains steady in February

New York — The Deloitte Consumer Spending Index remained steady in February primarily as a decline in initial unemployment claims and a rise in real average hourly earnings offset negative forces.

"The economic fundamentals that influence consumer spending are aligning," said Patricia Buckley, director economic policy and analysis, Deloitte LLP, and author of the monthly Index. "Financial institutions and the markets are stronger, and consumer confidence and real spending appear to be weathering the 2013 payroll tax increases fairly well. Absent the uncertainty surrounding the impact of the sequester, an economic turnaround would likely be imminent."

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03.22.2013

Williams-Sonoma Q4 income up 9%, topping expectations

San Francisco -- Williams-Sonoma Inc.'s fourth-quarter net income rose a better-than-expected 9%, helped by strong online sales, gains at its West Elm brand and the benefit of an extra week in the period.

The company also said it is increasing its quarterly cash dividend by 41% to 31 cents per share, and announced plans to buy back up to $750 million of its shares over the next three years.

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03.22.2013

City Sports opening 11,000-sq.-ft. store in Manhattan

Boston -- City Sports announced that it will open its 22nd retail location in New York City, on March 26. It will be City Sports' third location in New York City.

03.20.2013

Zumiez Q4 profit up 22%; 60 new stores planned for 2013

Lynwood, Wash. -- Zumiez Inc. said Thursday its fiscal fourth quarter net income rose 22.1% to $22.9 million on improved sales.

Revenue for the quarter, ended Feb.2, (14 weeks) increased to $224.4 million from $183.9 million in the year-ago period (13 weeks). Same-store sales fell 1%.

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03.20.2013

Hibbett Sports Q4 income up 22%; to open 65 to 70 stores

Birmingham, Ala. -- Hibbett Sports reported that net income for its fiscal fourth quarter increased a better-than-expected 22.3% to $19.4 million, compared with $15.8 million for the same period last year.

Net sales for the fourth quarter increased 14% to $217.4 million from $190.7 million in the year ago period. Same-store sales increased 4.9%.

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03.20.2013

Reports: Costco to expand headquarters

New York -- Costco Wholesale Corp. will expand its Issaquah, Wash., headquarters, according to published reports on Friday.

The Seattle Daily Journal of Commerce reported Friday that Issaquah's director of economic development, Keith Niven, said the club retailer would expand the headquarters to take up as much as 1.5 million sq. ft.

The Tacoma, Wash., News Tribune reported that the company currently takes up three buildings that are full.

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