Coming soon - a brand new feature to the ihr newsletter!
Sheldon Baker, of the Baker Dillon Group, will be contributing a weekly column entitled Executive Suite, in which he will interview top management in the natural products industry, including managers, directors, VPs, Presidents/CEOs and Founders across the natural supplement, food and cosmetic works industries.
Do you have questions you'd like to ask? Is there someone you'd like to see featured in Executive Suite? Let us know.
Watch for Executive Suite, coming soon!
Friday, April 30, 2010
INDUSTRY NEWS: Black-market prescription drugs worry FDA - CBC
Black-market prescription drugs worry FDA
CBC News
The Food and Drug Administration in the U.S. is warning of increasing theft and a growing black market in prescription and over the counter drugs, medical devices and infant formula.
"There have been several cases where patients experienced adverse reactions from stolen drugs, reactions that were most likely due to improper storage and handling," the FDA states in a letter to those involved in the drug supply chain.
Health Canada says black market medications pose a risk to Canadian consumers.
In a written statement to CBC News, the agency states, "Health Canada continually works with the Canada Border Services Agency to prevent importation of any unapproved or counterfeit drugs and natural health products."
It notes drugs and natural health products sold in Canada will have either an eight digit drug identification number, a natural product number or a homeopathic medicine number.
"These numbers indicate that the products have been assessed by Health Canada for safety, effectiveness and quality," said the statement.
The FDA says any product that has left the legitimate supply chain poses a potential safety risk to consumers.
The American agency is urging businesses in the warehouse, transportation and manufacturing sectors to review security practices to minimize the risk of cargo and warehouse theft.
"Your members need to be one-step ahead of thieves in securing their warehouses and product transport," FDA acting assistant commissioner for regulatory affairs, Michael Chappell wrote in a letter to industry representatives.
In order to protect the public the FDA proposes a market recall of products in the supply chain with the same lot numbers as stolen goods.
It also wants a prompt public notification system, which would make it harder for thieves to sell the stolen goods.
The agency has set up a website listing stolen goods and advising how to report thefts.
SOURCE: CBCNEWS.CA
CBC News
The Food and Drug Administration in the U.S. is warning of increasing theft and a growing black market in prescription and over the counter drugs, medical devices and infant formula.
"There have been several cases where patients experienced adverse reactions from stolen drugs, reactions that were most likely due to improper storage and handling," the FDA states in a letter to those involved in the drug supply chain.
Health Canada says black market medications pose a risk to Canadian consumers.
In a written statement to CBC News, the agency states, "Health Canada continually works with the Canada Border Services Agency to prevent importation of any unapproved or counterfeit drugs and natural health products."
It notes drugs and natural health products sold in Canada will have either an eight digit drug identification number, a natural product number or a homeopathic medicine number.
"These numbers indicate that the products have been assessed by Health Canada for safety, effectiveness and quality," said the statement.
The FDA says any product that has left the legitimate supply chain poses a potential safety risk to consumers.
The American agency is urging businesses in the warehouse, transportation and manufacturing sectors to review security practices to minimize the risk of cargo and warehouse theft.
"Your members need to be one-step ahead of thieves in securing their warehouses and product transport," FDA acting assistant commissioner for regulatory affairs, Michael Chappell wrote in a letter to industry representatives.
In order to protect the public the FDA proposes a market recall of products in the supply chain with the same lot numbers as stolen goods.
It also wants a prompt public notification system, which would make it harder for thieves to sell the stolen goods.
The agency has set up a website listing stolen goods and advising how to report thefts.
SOURCE: CBCNEWS.CA
BUSINESS NEWS: Planet Organic Files for Creditor Protection
Planet Organic Health Corp announced today that after consideration of all viable alternatives, the Company's Board of Directors has determined that, in the best interests of the Coporation and its wholly-owned subsidiary in Canada, the Company will seek court protection from creditors.
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Planet Organic Files for Creditor Protection
EDMONTON, ALBERTA--(Marketwire - April 30, 2010) - Planet Organic Health Corp (TSX VENTURE:POH), Planet Organic Health Corp. ("POH") today announces that after consideration of all viable alternatives, POH's Board of Directors has determined that it is in the best interests of the Corporation for it and its wholly-owned subsidiary in Canada, Darwen Holdings Ltd. to seek court protection from creditors under the Companies' Creditors Arrangement Act (Canada) ("CCAA"). On April 28, 2010, POH and its subsidiaries received demands for payment and Notices of Intention to Enforce Security on term loans and convertible notes held by the Company's principal lender, Catalyst Capital Group Inc. on behalf of funds managed by it ("Catalyst"). At the time of demand, the total indebtedness owing to Catalyst was in excess of US$31.1 million.
POH sought and was granted CCAA protection by order of the Ontario Superior Court of Justice (the "Court") today, April 29, 2010 (the "Order"). The Court has granted CCAA protection for an initial period of 30 days, expiring on May 27, 2010. The filing does not affect the U.S. assets of POH's Mrs. Green's Division. The CCAA protection granted to POH pursuant to the Order will stay creditors, suppliers and others from enforcing any rights against POH and its Canadian subsidiary and will afford POH and its subsidiary the opportunity to restructure their affairs. POH took this decision after thorough consultation with its advisors and extensive consideration of all other alternatives.
As a result of the CCAA protection, the Corporation has decided to adjourn its annual general meeting of shareholders, previously scheduled to be held on April 30, 2010, in Calgary, Alberta. The meeting will now be held on Friday, May 14, 2010 in Calgary, Alberta. While under CCAA protection, POH's Board of Directors remains in place and its management remains responsible for day to day operations under the supervision of the court appointed Monitor.
Deloitte & Touche Inc. is the court appointed Monitor for the CCAA proceedings. A copy of the Order will be made available on the Monitor's website at www.deloitte.com/ca/planet-organic.
The CCAA filing will provide POH with a defined process and the necessary time to restructure its affairs in order to emerge with a sustainable and profitable organic food retail business. POH's organic retail business in Canada and the U.S. remains profitable and there are strong opportunities to grow in a number of key segments.
POH's operating plans are unaffected by today's announcement. All organic retail outlets will continue to operate in Canada and the U.S. without disruption to existing customers or employees. POH will proceed with developing a framework for a restructuring plan with the goal of making POH larger and more profitable.
SOURCE: MarketWire Press Release
________________________
Planet Organic Files for Creditor Protection
EDMONTON, ALBERTA--(Marketwire - April 30, 2010) - Planet Organic Health Corp (TSX VENTURE:POH), Planet Organic Health Corp. ("POH") today announces that after consideration of all viable alternatives, POH's Board of Directors has determined that it is in the best interests of the Corporation for it and its wholly-owned subsidiary in Canada, Darwen Holdings Ltd. to seek court protection from creditors under the Companies' Creditors Arrangement Act (Canada) ("CCAA"). On April 28, 2010, POH and its subsidiaries received demands for payment and Notices of Intention to Enforce Security on term loans and convertible notes held by the Company's principal lender, Catalyst Capital Group Inc. on behalf of funds managed by it ("Catalyst"). At the time of demand, the total indebtedness owing to Catalyst was in excess of US$31.1 million.
POH sought and was granted CCAA protection by order of the Ontario Superior Court of Justice (the "Court") today, April 29, 2010 (the "Order"). The Court has granted CCAA protection for an initial period of 30 days, expiring on May 27, 2010. The filing does not affect the U.S. assets of POH's Mrs. Green's Division. The CCAA protection granted to POH pursuant to the Order will stay creditors, suppliers and others from enforcing any rights against POH and its Canadian subsidiary and will afford POH and its subsidiary the opportunity to restructure their affairs. POH took this decision after thorough consultation with its advisors and extensive consideration of all other alternatives.
As a result of the CCAA protection, the Corporation has decided to adjourn its annual general meeting of shareholders, previously scheduled to be held on April 30, 2010, in Calgary, Alberta. The meeting will now be held on Friday, May 14, 2010 in Calgary, Alberta. While under CCAA protection, POH's Board of Directors remains in place and its management remains responsible for day to day operations under the supervision of the court appointed Monitor.
Deloitte & Touche Inc. is the court appointed Monitor for the CCAA proceedings. A copy of the Order will be made available on the Monitor's website at www.deloitte.com/ca/planet-organic.
The CCAA filing will provide POH with a defined process and the necessary time to restructure its affairs in order to emerge with a sustainable and profitable organic food retail business. POH's organic retail business in Canada and the U.S. remains profitable and there are strong opportunities to grow in a number of key segments.
POH's operating plans are unaffected by today's announcement. All organic retail outlets will continue to operate in Canada and the U.S. without disruption to existing customers or employees. POH will proceed with developing a framework for a restructuring plan with the goal of making POH larger and more profitable.
SOURCE: MarketWire Press Release
Thursday, April 29, 2010
BUSINESS NEWS: NBTY Reports Down Second Quarter
According to a Reuters report, NBTY Inc. posted a quarterly profit that missed market expectations by a wide margin, sending the Company's shares down 22 percent.
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NBTY Q2 profit misses Wall Street view, shares dive
* Q2 EPS 73 cents vs est 93 cents
* Q2 sales $705 mln vs est $681.6 mln
* Hurt by jump in TV advertising spending
* Sees private label margins under pressure in future
* Shares fall 22 pct (Adds details, analyst comment, updates stock activity)
BANGALORE, April 27 (Reuters) - NBTY Inc (NTY.N) posted a quarterly profit that missed market expectations by a wide margin, hurt by increased spending on television advertising, sending the U.S. nutritional supplements maker's shares plunging 22 percent.
Sales in the quarter grew 18 percent to $705.2 million, while advertising, promotion and catalog expenses jumped 54 percent to $50.9 million.
"The earnings miss can almost entirely be attributed to an unexpected $18 million boost in television advertising during the second quarter, which management noted they do not expect to recur in future quarters," Wedbush analyst Rommel Dionisio said.
NBTY said the additional TV spend in support of its supplements Nature's Bounty, Osteo Bi Flex, Ester C and Pure Protein, should result in a a boost to branded sales in the full year.
But the company also warned that it would see future gross margin pressure in its private label business.
"Because of the increasing competitive nature of the private label business, we anticipate gross profits for (this) business to decrease for the remainder of fiscal 2010," Chief Executive Scott Rudolph said.
Wedbush's Dionisio cut NBTY to "neutral" from "outperform" citing potential deceleration of industry growth.
Industry growth levels, which were above trend are now starting to crack as swine flu concerns moderate, Dionisio, who cut his price target on the stock to $41 from $56, said.
Sales growth of mass market vitamins -- like the ones sold by the company -- have historically trended up 5 percent to 6 percent, but accelerated to 14 percent to 15 percent during last year's swine flu, Dionisio said.
Shares of the Ronkonkoma, New York-based company were trading down 20 percent at $37.60 Tuesday on the New York Stock Exchange. They touched a low of 36.38 earlier.
For the second quarter, the company earned $46.7 million, or 73 cents a share, compared with $23.1 million, or 37 cents a share, a year ago.
Analysts on average were looking for a profit of 93 cents a share, before items, on revenue of $681.6 million, according to Thomson Reuters I/B/E/S. (Reporting by Vidya Lakshmi in Bangalore; Editing by Jarshad Kakkrakandy, Anthony Kurian)
SOURCE: Reuters
_____________________
NBTY Q2 profit misses Wall Street view, shares dive
* Q2 EPS 73 cents vs est 93 cents
* Q2 sales $705 mln vs est $681.6 mln
* Hurt by jump in TV advertising spending
* Sees private label margins under pressure in future
* Shares fall 22 pct (Adds details, analyst comment, updates stock activity)
BANGALORE, April 27 (Reuters) - NBTY Inc (NTY.N) posted a quarterly profit that missed market expectations by a wide margin, hurt by increased spending on television advertising, sending the U.S. nutritional supplements maker's shares plunging 22 percent.
Sales in the quarter grew 18 percent to $705.2 million, while advertising, promotion and catalog expenses jumped 54 percent to $50.9 million.
"The earnings miss can almost entirely be attributed to an unexpected $18 million boost in television advertising during the second quarter, which management noted they do not expect to recur in future quarters," Wedbush analyst Rommel Dionisio said.
NBTY said the additional TV spend in support of its supplements Nature's Bounty, Osteo Bi Flex, Ester C and Pure Protein, should result in a a boost to branded sales in the full year.
But the company also warned that it would see future gross margin pressure in its private label business.
"Because of the increasing competitive nature of the private label business, we anticipate gross profits for (this) business to decrease for the remainder of fiscal 2010," Chief Executive Scott Rudolph said.
Wedbush's Dionisio cut NBTY to "neutral" from "outperform" citing potential deceleration of industry growth.
Industry growth levels, which were above trend are now starting to crack as swine flu concerns moderate, Dionisio, who cut his price target on the stock to $41 from $56, said.
Sales growth of mass market vitamins -- like the ones sold by the company -- have historically trended up 5 percent to 6 percent, but accelerated to 14 percent to 15 percent during last year's swine flu, Dionisio said.
Shares of the Ronkonkoma, New York-based company were trading down 20 percent at $37.60 Tuesday on the New York Stock Exchange. They touched a low of 36.38 earlier.
For the second quarter, the company earned $46.7 million, or 73 cents a share, compared with $23.1 million, or 37 cents a share, a year ago.
Analysts on average were looking for a profit of 93 cents a share, before items, on revenue of $681.6 million, according to Thomson Reuters I/B/E/S. (Reporting by Vidya Lakshmi in Bangalore; Editing by Jarshad Kakkrakandy, Anthony Kurian)
SOURCE: Reuters
INDUSTRY NEWS: Neptune and Acasti welcome Professor Ruth McPherson to Acasti’s Scientific Advisory Board
Neptune Technologies & Bioressources Inc. and Acasti Pharma Inc. announced the expansion of Acasti's Scientific Advisory Board by welcomg Pr Ruth McPherson, MD, PhD.
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Neptune and Acasti welcome Professor Ruth McPherson to Acasti’s Scientific Advisory Board
A leading expert in the field of lipid management
Laval, Québec, CANADA – Neptune Technologies & Bioressources Inc. (“Neptune”) (NASDAQ.NEPT - TSX.V.NTB) and Acasti Pharma Inc. (“Acasti”) are pleased to announce the expansion of Acasti’s Scientific Advisory Board (“SAB”) by welcoming Pr Ruth McPherson, MD, PhD to join Pr Steven Nissen (Cleveland Clinic), Pr. William Harris (Sandford Research/USD), Pr Thomas G. Hartman (Rutgers University Center) and Dr Magdy M. Abdel-Malik (Quaestio Global Partners).
Dr McPherson is a Professor (Departments of Medicine & Biochemistry, University of Ottawa), Director of Research (Division of Cardiology) and Director of the Lipid Clinic & Atherogenomics Laboratory at the University of Ottawa Heart Institute. She co-authored the current Canadian Cardiovascular Society / Canadian guidelines for the diagnosis and treatment of dyslipidemia and prevention of cardiovascular disease, and a member of several Editorial Boards and Clinical Guideline Committees. Pr. McPherson is a member of the Atherosclerosis, Genetics & Cell Biology group at the University of Ottawa. Her work on the genetics of coronary artery disease led to the identification of a risk locus on chromosome 9p21 published in Science in 2007. Through her research on HDL receptors she has identified a novel pathway for selective uptake of HDL-CE that involves uptake, delipidation and recycling of HDL back to apical surface. These studies are relevant to understanding reverse cholesterol transport and may result in novel therapies to increase the functionality of HDL and prevent or treat cardiovascular disease. She has co-authored over 120 peer-reviewed publications and obtained solid research funding for over 20 years. She currently holds the Merck Frosst Canada Chair in Atherosclerosis Research.
"Acasti is and will continue to be committed to excellence; we demonstrate this by welcoming Pr McPherson to join the other four renowned members of our SAB. We are fortunate to be allowed to benefit from her valuable advice, critic and her considerable expertise in the field of dyslipidemia and reverse cholesterol transport” said Dr. Bruno Battistini, Senior Director Pharmaceutical R&D of Acasti
“Pr McPherson is a key Canadian opinion leader in the area of clinical lipidology and cardiovascular risk reduction with an outstanding implication in the Canadian and international medical scientific communities” said Tina Sampalis, President of Acasti Pharma Inc. “We have built our SAB stronger than ever ready to move forward since Acasti has recently received positive and encouraging guidance from Health Canada during a pre- clinical trial application (pre-CTA) consultation meeting” she added.
“I am delighted that Dr Sampalis contacted me and introduced Acasti as an emerging biopharma. Acasti’s product portfolio is innovative and fits perfectly with my area of research. I am looking forward to contribute in the development of a new and natural approach to manage lipid dysfunction potentially fulfilling a treatment gap”, said Pr Ruth McPherson.
SOURCE: Neptune Press Release
______________________
Neptune and Acasti welcome Professor Ruth McPherson to Acasti’s Scientific Advisory Board
A leading expert in the field of lipid management
Laval, Québec, CANADA – Neptune Technologies & Bioressources Inc. (“Neptune”) (NASDAQ.NEPT - TSX.V.NTB) and Acasti Pharma Inc. (“Acasti”) are pleased to announce the expansion of Acasti’s Scientific Advisory Board (“SAB”) by welcoming Pr Ruth McPherson, MD, PhD to join Pr Steven Nissen (Cleveland Clinic), Pr. William Harris (Sandford Research/USD), Pr Thomas G. Hartman (Rutgers University Center) and Dr Magdy M. Abdel-Malik (Quaestio Global Partners).
Dr McPherson is a Professor (Departments of Medicine & Biochemistry, University of Ottawa), Director of Research (Division of Cardiology) and Director of the Lipid Clinic & Atherogenomics Laboratory at the University of Ottawa Heart Institute. She co-authored the current Canadian Cardiovascular Society / Canadian guidelines for the diagnosis and treatment of dyslipidemia and prevention of cardiovascular disease, and a member of several Editorial Boards and Clinical Guideline Committees. Pr. McPherson is a member of the Atherosclerosis, Genetics & Cell Biology group at the University of Ottawa. Her work on the genetics of coronary artery disease led to the identification of a risk locus on chromosome 9p21 published in Science in 2007. Through her research on HDL receptors she has identified a novel pathway for selective uptake of HDL-CE that involves uptake, delipidation and recycling of HDL back to apical surface. These studies are relevant to understanding reverse cholesterol transport and may result in novel therapies to increase the functionality of HDL and prevent or treat cardiovascular disease. She has co-authored over 120 peer-reviewed publications and obtained solid research funding for over 20 years. She currently holds the Merck Frosst Canada Chair in Atherosclerosis Research.
"Acasti is and will continue to be committed to excellence; we demonstrate this by welcoming Pr McPherson to join the other four renowned members of our SAB. We are fortunate to be allowed to benefit from her valuable advice, critic and her considerable expertise in the field of dyslipidemia and reverse cholesterol transport” said Dr. Bruno Battistini, Senior Director Pharmaceutical R&D of Acasti
“Pr McPherson is a key Canadian opinion leader in the area of clinical lipidology and cardiovascular risk reduction with an outstanding implication in the Canadian and international medical scientific communities” said Tina Sampalis, President of Acasti Pharma Inc. “We have built our SAB stronger than ever ready to move forward since Acasti has recently received positive and encouraging guidance from Health Canada during a pre- clinical trial application (pre-CTA) consultation meeting” she added.
“I am delighted that Dr Sampalis contacted me and introduced Acasti as an emerging biopharma. Acasti’s product portfolio is innovative and fits perfectly with my area of research. I am looking forward to contribute in the development of a new and natural approach to manage lipid dysfunction potentially fulfilling a treatment gap”, said Pr Ruth McPherson.
SOURCE: Neptune Press Release
INDUSTRY NEWS/CONSUMER BEHAVIOUR: Canadian Consumers Seek Innovation on Grocery Shelves
According to the Canadian Council of Grocery Distributors, Canadian grocery consumers are looking for products that stand out from the crowd - that is, products that show innovation. These products are the ones that build sales. Environmental and sustainable packaging is one of the top factors that consumers look for, and this is a trend found amongst the products named as finalists for the Grand Prix New Product Awards.
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Canadian Consumers Seek Innovation on Grocery Shelves
Finalists Named for Grand Prix New Product Awards
TORONTO, April 29 /CNW/ - You're not supposed to go grocery shopping when you're hungry. Yet grocery consumers are exactly that - hungry for products that stand out from the crowd says Michelle Scott of the Canadian Council of Grocery Distributors (CCGD). "The grocery list is just a starting point," says Scott. "Consumer research tells us that a significant number of grocery shoppers take the time to browse, and that 70% like trying new and interesting items."
Consumers vote for these innovative products every day through their purchases - and CCGD recognizes them every year through the Canadian Grand Prix New Product Awards(TM). In fact, in a recent review of trends in consumer goods, The Nielsen Company stated that in today's Canadian marketplace, "winning brands will innovate and differentiate". The finalists in the Canadian Grand Prix New Product Awards(TM) demonstrate those qualities.
This is the 17th year for the CCGD awards program, which recognizes the top grocery product newcomers across 25 food, non-food and private label product categories. The winners, to emerge from the finalists announced today, will be revealed at a gala banquet on May 31 at the National Grocery Conference in Halifax, presented by CCGD and Food and Consumer Products of Canada.
A 32-member jury made up of consumers, food editors, journalists, advertising executives, packaging designers and CCGD distributor members evaluates all entries in the Canadian Grand Prix New Product Awards(TM).
In February, the panel gathered at the Institut de tourisme et d'hôtellerie du Québec in Montreal to evaluate the food and private label products. The judges assess non-food products at home over six weeks.
Each entry is graded on five criteria: uniqueness and innovation, product characteristics, presentation and packaging, overall consumer value, and consumer acceptance (i.e. the penetration rate of a product in households). To become a Grand Prix finalist, a product must achieve a cumulative average score of at least 70%.
"Every year, the products get better," says Marcus Von Albrecht, who has headed the jury for the competition for nine years, and serves as director of B.C. Chefs Association.
What's in store this year? Von Albrecht noted three themes running through many of the Grand Prix finalists:
- One, higher end food products that offer "great value for the
money," enabling consumers to get the dining out experience at eat-in
prices.
- Two, novel and more environmentally sustainable packaging, something
that is both environmentally-friendly and consumer-friendly.
- Three, innovative flavours and cooking techniques.
"The range of this year's Grand Prix finalists demonstrates the grocery industry's commitment to innovation, and to exceeding consumers' ever evolving expectations," says Scott.
Products introduced between January 1 and December 31, 2009 were eligible to enter the 2009 Canadian Grand Prix New Product Awards(TM). The awards program is open to manufacturers and distributors of all sizes.
The finalists and winners can use the Grand Prix Award logo on their packaging for two years. Winners gain additional profile through retailer support via flyers and shelf talkers. In addition, beginning this year through a partnership with Canadian Family Magazine, all 2009 Grand Prix Finalists will also be included in the 2010 Canadian Family Food Awards. This exciting new partnership will enable finalists to gain fresh insights into consumer tastes and trends, and Canadian Family readers will enjoy learning about the newest and most exciting products on Canadian grocery shelves.
SOURCE: CNW NewsWire Press Release
________________________
Canadian Consumers Seek Innovation on Grocery Shelves
Finalists Named for Grand Prix New Product Awards
TORONTO, April 29 /CNW/ - You're not supposed to go grocery shopping when you're hungry. Yet grocery consumers are exactly that - hungry for products that stand out from the crowd says Michelle Scott of the Canadian Council of Grocery Distributors (CCGD). "The grocery list is just a starting point," says Scott. "Consumer research tells us that a significant number of grocery shoppers take the time to browse, and that 70% like trying new and interesting items."
Consumers vote for these innovative products every day through their purchases - and CCGD recognizes them every year through the Canadian Grand Prix New Product Awards(TM). In fact, in a recent review of trends in consumer goods, The Nielsen Company stated that in today's Canadian marketplace, "winning brands will innovate and differentiate". The finalists in the Canadian Grand Prix New Product Awards(TM) demonstrate those qualities.
This is the 17th year for the CCGD awards program, which recognizes the top grocery product newcomers across 25 food, non-food and private label product categories. The winners, to emerge from the finalists announced today, will be revealed at a gala banquet on May 31 at the National Grocery Conference in Halifax, presented by CCGD and Food and Consumer Products of Canada.
A 32-member jury made up of consumers, food editors, journalists, advertising executives, packaging designers and CCGD distributor members evaluates all entries in the Canadian Grand Prix New Product Awards(TM).
In February, the panel gathered at the Institut de tourisme et d'hôtellerie du Québec in Montreal to evaluate the food and private label products. The judges assess non-food products at home over six weeks.
Each entry is graded on five criteria: uniqueness and innovation, product characteristics, presentation and packaging, overall consumer value, and consumer acceptance (i.e. the penetration rate of a product in households). To become a Grand Prix finalist, a product must achieve a cumulative average score of at least 70%.
"Every year, the products get better," says Marcus Von Albrecht, who has headed the jury for the competition for nine years, and serves as director of B.C. Chefs Association.
What's in store this year? Von Albrecht noted three themes running through many of the Grand Prix finalists:
- One, higher end food products that offer "great value for the
money," enabling consumers to get the dining out experience at eat-in
prices.
- Two, novel and more environmentally sustainable packaging, something
that is both environmentally-friendly and consumer-friendly.
- Three, innovative flavours and cooking techniques.
"The range of this year's Grand Prix finalists demonstrates the grocery industry's commitment to innovation, and to exceeding consumers' ever evolving expectations," says Scott.
Products introduced between January 1 and December 31, 2009 were eligible to enter the 2009 Canadian Grand Prix New Product Awards(TM). The awards program is open to manufacturers and distributors of all sizes.
The finalists and winners can use the Grand Prix Award logo on their packaging for two years. Winners gain additional profile through retailer support via flyers and shelf talkers. In addition, beginning this year through a partnership with Canadian Family Magazine, all 2009 Grand Prix Finalists will also be included in the 2010 Canadian Family Food Awards. This exciting new partnership will enable finalists to gain fresh insights into consumer tastes and trends, and Canadian Family readers will enjoy learning about the newest and most exciting products on Canadian grocery shelves.
SOURCE: CNW NewsWire Press Release
BUSINESS NEWS: Reliv Reports First Quarter 2010 Results
Reliv International, Inc. has reported that sales and earnings for the first quarter of 2010 were below last year's first quarter results. However, sales outside of the US rose during the period.
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Reliv International Reports First-Quarter 2010 Results
CHESTERFIELD, Mo., April 29 /PRNewswire-FirstCall/ -- Reliv International, Inc. (Nasdaq:RELV), a nutrition and direct selling company, today reported that sales and earnings in the first-quarter of 2010 were below last year's first-quarter results, but sales outside of the United States rose during the period.
Net sales were $22.7 million, a decline of 4.5 percent from the first quarter of 2009. U.S. sales declined 9.0 percent. International sales rose 36.1 percent, with approximately half of the increase due to currency fluctuations.
Net income was $746,000 for the quarter, or $0.06 per diluted share, compared to $1.0 million in net income, or $0.07 per diluted share, in the same quarter last year.
Robert L. Montgomery, chairman, president and chief executive officer, said, "International sales were a bright spot this quarter, increasing approximately 19 percent excluding the effect of currency fluctuations. Our U.S. distributors and customers, however, are still feeling the effects of the recession, as their spending remains below last year's levels. The rate of the sales decline, however, has moderated compared to previous years' declines."
Montgomery described several tactics designed to increase sales. "We are currently conducting the Reliv 'Freedom Tour' in which senior executives will visit our 35 top U.S. markets. We hope to spur new-distributor enrollments and encourage existing distributors to expand their businesses more quickly," Montgomery said.
"In the first quarter, we launched the Team Reliv concept in which distributors will sponsor running events in their hometowns," he said. "The events give participants an opportunity to sample Innergize, our isotonic sports product, and give our distributors a means of generating leads. This is part of a strategy to attract younger distributors to Reliv and to increase our brand awareness by emphasizing the role of Reliv supplements in a healthy, active lifestyle," Montgomery said.
Reliv also introduced three new Relivables products during the first quarter, including Relivables Soy Nuts, Relivables snack bars and "r" body lotion.
One factor in the overall sales decline has been a reduction in the size of the average order. "Over the last two years, the number of orders has remained relatively steady, which indicates a solid customer base," Montgomery said. "We believe the recession, therefore, is the main culprit leading to lower average order sizes."
He added, "Our total distributor count declined from last year, mainly due to a slow January and February this year. In the first quarter of last year, enrollments were very strong due in part to a special promotion that wasn't in place in the first quarter of 2010. March 2010 enrollments, however, were back to our historical levels," he said.
Reliv generated net cash from operating activities of $1.6 million in the first quarter, less than the $2.8million in net cash generated in the first quarter of 2009. As of March 31, 2010, Reliv had cash and cash equivalents of $7.2 million, up slightly from $7.0 million on hand as of the same date in 2009.
He added, "Reliv was founded on the premise that we make nutrition simple. We offer outstanding products that are based on the latest scientific research. In addition, we provide an affordable business opportunity for individuals who want to start a home-based business."
SOURCE: CNW Newswire Press Release
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Reliv International Reports First-Quarter 2010 Results
CHESTERFIELD, Mo., April 29 /PRNewswire-FirstCall/ -- Reliv International, Inc. (Nasdaq:RELV), a nutrition and direct selling company, today reported that sales and earnings in the first-quarter of 2010 were below last year's first-quarter results, but sales outside of the United States rose during the period.
Net sales were $22.7 million, a decline of 4.5 percent from the first quarter of 2009. U.S. sales declined 9.0 percent. International sales rose 36.1 percent, with approximately half of the increase due to currency fluctuations.
Net income was $746,000 for the quarter, or $0.06 per diluted share, compared to $1.0 million in net income, or $0.07 per diluted share, in the same quarter last year.
Robert L. Montgomery, chairman, president and chief executive officer, said, "International sales were a bright spot this quarter, increasing approximately 19 percent excluding the effect of currency fluctuations. Our U.S. distributors and customers, however, are still feeling the effects of the recession, as their spending remains below last year's levels. The rate of the sales decline, however, has moderated compared to previous years' declines."
Montgomery described several tactics designed to increase sales. "We are currently conducting the Reliv 'Freedom Tour' in which senior executives will visit our 35 top U.S. markets. We hope to spur new-distributor enrollments and encourage existing distributors to expand their businesses more quickly," Montgomery said.
"In the first quarter, we launched the Team Reliv concept in which distributors will sponsor running events in their hometowns," he said. "The events give participants an opportunity to sample Innergize, our isotonic sports product, and give our distributors a means of generating leads. This is part of a strategy to attract younger distributors to Reliv and to increase our brand awareness by emphasizing the role of Reliv supplements in a healthy, active lifestyle," Montgomery said.
Reliv also introduced three new Relivables products during the first quarter, including Relivables Soy Nuts, Relivables snack bars and "r" body lotion.
One factor in the overall sales decline has been a reduction in the size of the average order. "Over the last two years, the number of orders has remained relatively steady, which indicates a solid customer base," Montgomery said. "We believe the recession, therefore, is the main culprit leading to lower average order sizes."
He added, "Our total distributor count declined from last year, mainly due to a slow January and February this year. In the first quarter of last year, enrollments were very strong due in part to a special promotion that wasn't in place in the first quarter of 2010. March 2010 enrollments, however, were back to our historical levels," he said.
Reliv generated net cash from operating activities of $1.6 million in the first quarter, less than the $2.8million in net cash generated in the first quarter of 2009. As of March 31, 2010, Reliv had cash and cash equivalents of $7.2 million, up slightly from $7.0 million on hand as of the same date in 2009.
He added, "Reliv was founded on the premise that we make nutrition simple. We offer outstanding products that are based on the latest scientific research. In addition, we provide an affordable business opportunity for individuals who want to start a home-based business."
SOURCE: CNW Newswire Press Release
Tuesday, April 27, 2010
INDUSTRY TIPS/CONSUMER BEHAVIOUR: Shopper Relationship Management - RetailWire
RetailWire offers some tips about the value of consumer data and transaction logs when it comes to marketing - this is part of Shopper Relationship Management. Transaction logs and other consumer data provide first-hand insight into consumer behaviours, and retailers can use this data to tailor their marketing strategies and selling points accordingly. How do you track your consumer behaviour? Do you think SRM is an effective way to help your business thrive?
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Shopper Relationship Management -
Predicting Consumer Behavior
Data is everywhere. Scroll down this week's headlines from the news wires and you'll see the results of more consumer studies than you can possibly process. But as anyone familiar with this PR exercise knows, it's all in the interpretation. Skilled analysts can spin data to suit their purposes.
When brand marketers look for insights in consumer data and transaction logs, however, it's not about the spin -- it's about deriving information that can drive real action at retail.
This is what the newly developing discipline of Shopper Relationship Management (SRM) is all about. Technology now allows for the study of consumer trends and behaviors on a granular level. In recent years, marketers and retailers have become skilled at using this data for market measurement, but that tends to be limited to rear-view mirror views. What is needed is market management, not just measurement -- and that requires forward-looking insights.
Thanks to systems that can serve up granular market data at near real time speeds -- coupled with a new generation of predictive analytics tools that can derive category-winning insights from that data -- practitioners can now truly start to manage the market. They can clearly visualize performance trends and opportunities that get lost when wallowing in aggregate data.
In its recently released Marketing Point of View, Shopper Relationship Management Delivers the Winning Hand, SymphonyIRI Group's Ed See and Jeanne Livelsberger discuss the innovative predictive analytics that elevate current practices to SRM levels.
For marketers to be able to understand and act competitively on shopper behavior, they must be able to answer three critical questions -- quickly and with great precision:
What was it due to?
Why did the shift in market dynamics or performance occur? What caused the change? Did we plan for this?
What if we were to do this?
What happens if we change pricing? Change the marketing mix? Bring in new products or new flavours for existing products? Change what we're promoting when? What if the competition does the same?
How do we do it?
How do we achieve our goals? What needs to change to make our goals? How do we course-correct mid-plan? How can we counter our competitors' actions?
SOURCE: RetailWire
___________________
Shopper Relationship Management -
Predicting Consumer Behavior
Data is everywhere. Scroll down this week's headlines from the news wires and you'll see the results of more consumer studies than you can possibly process. But as anyone familiar with this PR exercise knows, it's all in the interpretation. Skilled analysts can spin data to suit their purposes.
When brand marketers look for insights in consumer data and transaction logs, however, it's not about the spin -- it's about deriving information that can drive real action at retail.
This is what the newly developing discipline of Shopper Relationship Management (SRM) is all about. Technology now allows for the study of consumer trends and behaviors on a granular level. In recent years, marketers and retailers have become skilled at using this data for market measurement, but that tends to be limited to rear-view mirror views. What is needed is market management, not just measurement -- and that requires forward-looking insights.
Thanks to systems that can serve up granular market data at near real time speeds -- coupled with a new generation of predictive analytics tools that can derive category-winning insights from that data -- practitioners can now truly start to manage the market. They can clearly visualize performance trends and opportunities that get lost when wallowing in aggregate data.
In its recently released Marketing Point of View, Shopper Relationship Management Delivers the Winning Hand, SymphonyIRI Group's Ed See and Jeanne Livelsberger discuss the innovative predictive analytics that elevate current practices to SRM levels.
For marketers to be able to understand and act competitively on shopper behavior, they must be able to answer three critical questions -- quickly and with great precision:
What was it due to?
Why did the shift in market dynamics or performance occur? What caused the change? Did we plan for this?
What if we were to do this?
What happens if we change pricing? Change the marketing mix? Bring in new products or new flavours for existing products? Change what we're promoting when? What if the competition does the same?
How do we do it?
How do we achieve our goals? What needs to change to make our goals? How do we course-correct mid-plan? How can we counter our competitors' actions?
SOURCE: RetailWire
INDUSTRY NEWS: Ontario Energy "Tax" Questioned - LawDay
The CD Howe Institute, a Toronto research organization, has released a study questioning whether the recent Order in Council, Ontario Regulation 66/10, amounts to an unconstitutional tax.
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ONTARIO ENERGY “TAX” QUESTIONED
TORONTO – The CD Howe Institute, a well known Toronto research organization, has released a study questioning whether the recent Order in Council, Ontario Regulation 66/10, amounts to an unconstitutional tax. That regulation directed the Ontario Energy Board to assess a special levy on the Independent Electricity System Operator and all electricity distributors in proportion to the amount of electricity they distribute. This levy is designed to collect $54 million in revenues to fund the Ministry of Energy and Infrastructure.
The study notes that the Ontario government may use regulations which are not approved by the Legislature to set fees to recover the cost of goods and services they provide to people being charged the fee. However it is argued the government may not use a regulation to fund the general activities of government. Under the Constitution Act taxes are either direct or indirect. Under Canadian law direct taxes are paid by the person on whom the charges are levied while indirect taxes are passed on to others as in the case of sales taxes. Under section 92 of the Constitution Act the provinces have jurisdiction to levy direct taxes but not indirect taxes. In the end the issue is whether the levy is a fee for the use of electricity or whether it is a tax supporting government spending. The study notes that the courts could consider the levy to be in indirect tax because it is collected from distributors in proportion to their electricity sales and supports government spending independent of the cost of goods sold. As a indirect tax it would not be within the provinces legislative authority. The study is available at www.cdhowe.org.
SOURCE: LawDay
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ONTARIO ENERGY “TAX” QUESTIONED
TORONTO – The CD Howe Institute, a well known Toronto research organization, has released a study questioning whether the recent Order in Council, Ontario Regulation 66/10, amounts to an unconstitutional tax. That regulation directed the Ontario Energy Board to assess a special levy on the Independent Electricity System Operator and all electricity distributors in proportion to the amount of electricity they distribute. This levy is designed to collect $54 million in revenues to fund the Ministry of Energy and Infrastructure.
The study notes that the Ontario government may use regulations which are not approved by the Legislature to set fees to recover the cost of goods and services they provide to people being charged the fee. However it is argued the government may not use a regulation to fund the general activities of government. Under the Constitution Act taxes are either direct or indirect. Under Canadian law direct taxes are paid by the person on whom the charges are levied while indirect taxes are passed on to others as in the case of sales taxes. Under section 92 of the Constitution Act the provinces have jurisdiction to levy direct taxes but not indirect taxes. In the end the issue is whether the levy is a fee for the use of electricity or whether it is a tax supporting government spending. The study notes that the courts could consider the levy to be in indirect tax because it is collected from distributors in proportion to their electricity sales and supports government spending independent of the cost of goods sold. As a indirect tax it would not be within the provinces legislative authority. The study is available at www.cdhowe.org.
SOURCE: LawDay
BUSINESS NEWS: Aeterna Zentaris Regains Compliance with Nasdaq Minimum Bid Price Listing Requirement
Aeterna Zentaris Regains Compliance with Nasdaq Minimum Bid Price Listing Requirement
QUEBEC CITY, - Aeterna Zentaris Inc. (NASDAQ: AEZS; TSX: AEZ) (the "Company"), a late-stage drug development company specialized in oncology and endocrinology, announced today that it has received a letter from the Nasdaq Stock Market notifying it that the closing price per share of the Company's common stock was above the US$1.00 minimum bid price for 10 consecutive trading days and that, as a result, the Company has regained compliance with Marketplace Rule 5450(a)(1) (the minimum bid price rule) as of Friday, April 23, 2010.
SOURCE: CNW Newswire Press Release
QUEBEC CITY, - Aeterna Zentaris Inc. (NASDAQ: AEZS; TSX: AEZ) (the "Company"), a late-stage drug development company specialized in oncology and endocrinology, announced today that it has received a letter from the Nasdaq Stock Market notifying it that the closing price per share of the Company's common stock was above the US$1.00 minimum bid price for 10 consecutive trading days and that, as a result, the Company has regained compliance with Marketplace Rule 5450(a)(1) (the minimum bid price rule) as of Friday, April 23, 2010.
SOURCE: CNW Newswire Press Release
RESEARCH NEWS: Folate Supplementation May Reduce Risk of Hearing Loss in Elderly Men
Authors of a study of 26,273 men aged 40 to 74 found that supplementation with folate may be associated with a reduced risk of hearing loss in older men (60+ years).
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Folate Supplementation May Reduce Risk of Hearing Loss in Elderly Men
Reference: "A prospective study of vitamin intake and the risk of hearing loss in men," Shargorodsky J, Curhan GC, et al, Otolaryngol Head Neck Surg. 2010; 142(2): 231-6. (Address: Channing Laboratory, Department of Medicine, Brigham and Women's Hospital, 181 Longwood Ave, Boston, MA 02115, USA. E-mail: Josef_Shargorodsky@meei.harvard.edu ).
Summary: In a prospective study involving 26,273 men aged 40 to 74 years, results indicate that supplementation with folate may be associated with a reduced risk of hearing loss in older men (60+ years). Information on diet and lifestyle were collected at baseline and every four years using questionnaires. During 18 years of follow up, 3,559 cases of hearing loss were identified. After adjusting for potential confounders, total folate intake (diet + supplements) was inversely associated with risk of hearing loss in men aged 60 years or more, where the highest quintile of folate intake was associated with a 21% reduced risk of hearing loss, compared with the lowest quintile of intake. However, overall no significant association was observed between vitamin intake and hearing loss. Thus, the authors of this study conclude, "Men aged > or =60 years may benefit from higher folate intake to reduce the risk of developing hearing loss."
SOURCE: VitaSearch
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Folate Supplementation May Reduce Risk of Hearing Loss in Elderly Men
Reference: "A prospective study of vitamin intake and the risk of hearing loss in men," Shargorodsky J, Curhan GC, et al, Otolaryngol Head Neck Surg. 2010; 142(2): 231-6. (Address: Channing Laboratory, Department of Medicine, Brigham and Women's Hospital, 181 Longwood Ave, Boston, MA 02115, USA. E-mail: Josef_Shargorodsky@meei.harvard.edu ).
Summary: In a prospective study involving 26,273 men aged 40 to 74 years, results indicate that supplementation with folate may be associated with a reduced risk of hearing loss in older men (60+ years). Information on diet and lifestyle were collected at baseline and every four years using questionnaires. During 18 years of follow up, 3,559 cases of hearing loss were identified. After adjusting for potential confounders, total folate intake (diet + supplements) was inversely associated with risk of hearing loss in men aged 60 years or more, where the highest quintile of folate intake was associated with a 21% reduced risk of hearing loss, compared with the lowest quintile of intake. However, overall no significant association was observed between vitamin intake and hearing loss. Thus, the authors of this study conclude, "Men aged > or =60 years may benefit from higher folate intake to reduce the risk of developing hearing loss."
SOURCE: VitaSearch
Monday, April 26, 2010
INDUSTRY NEWS: Burcon director receives prestigious appointment
Burcon director receives prestigious appointment
VANCOUVER, - Burcon NutraScience Corporation (TSX: BU) wishes to recognize Burcon director Dr. D. Lorne Tyrrell, who has been appointed as the inaugural director of the new Li Ka Shing Institute of Virology in Canada.
On April 23, 2010 The University of Alberta announced receiving a $28-million gift from the Li Ka Shing (Canada) Foundation and $52.5 million in new related funding from the Government of Alberta. The donation - the largest cash gift in the University of Alberta's history - will help establish the Li Ka Shing Institute of Virology and add the University of Alberta to a global health-science research network facilitated by the Li Ka Shing (Canada) Foundation.
Burcon director, Dr. D. Lorne Tyrrell was announced as the inaugural director of the new Li Ka Shing Institute of Virology. Dr. Tyrrell thanked the foundation for the support and stated, "Since I began research in infectious diseases over 30 years ago, there has been a steady stream of new infectious diseases - an average of one per year; diseases you will easily recognize. These include HIV/AIDS, hepatitis C, SARS, West Nile virus, new strains of herpes viruses and new strains of influenza. A number of these viruses have been proven to cause cancer, such as the papilloma virus in cervical cancer and hepatitis viruses that cause liver cancer."
The announcement marks the beginning of an exciting new partnership among the University of Alberta, the government of Alberta and the Li Ka Shing (Canada) Foundation, a foundation dedicated to improving the human condition through the advancement of education, health care, arts and culture and community projects around the world. In addition, the University of Alberta announced that the building in which the Alberta Diabetes Institute is located, has been named the 'Li Ka Shing Centre for Health Research Innovation'.
"We are pleased for Lorne for having been selected for this prestigious position," stated Johann F. Tergesen, Burcon's President & COO who added, "Through years of commitment to his research, Lorne has made a significant contribution to the understanding of infectious diseases. We are delighted to help recognize Lorne's accomplishments."
SOURCE: CNW Newswire Press Release, Burcon Press Release
VANCOUVER, - Burcon NutraScience Corporation (TSX: BU) wishes to recognize Burcon director Dr. D. Lorne Tyrrell, who has been appointed as the inaugural director of the new Li Ka Shing Institute of Virology in Canada.
On April 23, 2010 The University of Alberta announced receiving a $28-million gift from the Li Ka Shing (Canada) Foundation and $52.5 million in new related funding from the Government of Alberta. The donation - the largest cash gift in the University of Alberta's history - will help establish the Li Ka Shing Institute of Virology and add the University of Alberta to a global health-science research network facilitated by the Li Ka Shing (Canada) Foundation.
Burcon director, Dr. D. Lorne Tyrrell was announced as the inaugural director of the new Li Ka Shing Institute of Virology. Dr. Tyrrell thanked the foundation for the support and stated, "Since I began research in infectious diseases over 30 years ago, there has been a steady stream of new infectious diseases - an average of one per year; diseases you will easily recognize. These include HIV/AIDS, hepatitis C, SARS, West Nile virus, new strains of herpes viruses and new strains of influenza. A number of these viruses have been proven to cause cancer, such as the papilloma virus in cervical cancer and hepatitis viruses that cause liver cancer."
The announcement marks the beginning of an exciting new partnership among the University of Alberta, the government of Alberta and the Li Ka Shing (Canada) Foundation, a foundation dedicated to improving the human condition through the advancement of education, health care, arts and culture and community projects around the world. In addition, the University of Alberta announced that the building in which the Alberta Diabetes Institute is located, has been named the 'Li Ka Shing Centre for Health Research Innovation'.
"We are pleased for Lorne for having been selected for this prestigious position," stated Johann F. Tergesen, Burcon's President & COO who added, "Through years of commitment to his research, Lorne has made a significant contribution to the understanding of infectious diseases. We are delighted to help recognize Lorne's accomplishments."
SOURCE: CNW Newswire Press Release, Burcon Press Release
INDUSTRY NEWS: Ranaz Appoints a New Chief Financial Officer
Ranaz Appoints a New Chief Financial Officer
MONTREAL, - Ranaz Corporation ("Ranaz") (TSXV: RNZ), a company specialized in the manufacturing and marketing of protein and dietary supplements, announces the departure of Mr. Sylvain Picard as Chief Financial Officer and Secretary of Ranaz. Mr. Picard leaves the company to pursue other opportunities.
Ranaz also announces the appointment of Mr. Paul Guay as interim Chief Financial Officer until a full-time Chief Financial Officer is hired by Ranaz.
Mr. Guay is a chartered accountant since 1974 and has a number of years of experience in business management. During his career, he has worked for such companies as Groupe BMR Inc. (as Vice-President Finance and Management) and Vogue Pool Products Inc.
SOURCE: CNW Newswire Press Release
MONTREAL, - Ranaz Corporation ("Ranaz") (TSXV: RNZ), a company specialized in the manufacturing and marketing of protein and dietary supplements, announces the departure of Mr. Sylvain Picard as Chief Financial Officer and Secretary of Ranaz. Mr. Picard leaves the company to pursue other opportunities.
Ranaz also announces the appointment of Mr. Paul Guay as interim Chief Financial Officer until a full-time Chief Financial Officer is hired by Ranaz.
Mr. Guay is a chartered accountant since 1974 and has a number of years of experience in business management. During his career, he has worked for such companies as Groupe BMR Inc. (as Vice-President Finance and Management) and Vogue Pool Products Inc.
SOURCE: CNW Newswire Press Release
INDUSTRY BUZZ: Going organic, piece by piece - Montreal Gazette
Monique Beaudin writes in her Green Life column in the Montreal Gazette that eco-friendly raw materials are becoming more popular amongst those in craft circles - and further, those craft circles are growing as people grow more environmentally conscious about the impact of the materials they use on their environment.
Heads up, retailers - this isn't a conventional type of consumer. While you may have focused largely on products that fit into certain defined categories, there are also eco-minded individuals who are looking at raw materials and want to create their own products with those raw materials. Why not be the go-to for the raw materials right down to the finished items or natural health products? For an excerpt of Beaudin's piece, see below - for the full piece, check out the Montreal Gazette.
__________________
Montreal Gazette
Division of Canwest Publishing Inc.
Green Life Column: Going organic, piece by piece
Eco-friendly raw materials are increasingly popular as those in craft circles grow concerned about the environmental and ethical impacts of the materials they use
By MoniqueB Mon, Apr 26 2010 Green Life
By Monique Beaudin, The Gazette,
You've probably heard the words organic, fair trade and sustainable bandied about when it comes to foods like coffee and chocolate, but have you ever thought about those issues when it comes to your clothes and household items?
How fabric, yarn and other materials are produced is a topic that is starting to get attention in crafty circles.
While some companies are introducing organic alternatives, most of what's available is still produced the conventional way.
Becky Stone makes baby blankets, quilts and other accessories by hand at her home-based business in Hudson. After years of sewing with conventionally produced materials, she decided that the environmental impact of cotton production was too much for her.
She was concerned about the amount of pesticides and insecticides used to grow cotton, and the chemicals used to turn it into fabric. According to the environmental research organization Worldwatch Institute, the dyes used can contain toxic chemicals and processing cotton can release formaldehyde gas, a probable carcinogen.
"As I became more aware of the environmental issues, I began to feel increasingly guilty about buying conventional cotton," Stone said. "I didn't want to be a part of that."
Now Stone uses only organic cotton and batting. She said the response to her choice has been favourable. Since launching her business, the Organic Quilt Company, in 2008, she has been selling her environmentally friendly quilts and blankets in boutiques and online around the world. Every year, she makes hundreds of baby blankets and accessories, as well as several custom-made quilts, she said.
"As people become more aware of organic cotton and environmental issues, they are actively seeking alternatives, especially for babies," she said. "When you're thinking of a newborn baby, you really want to protect them with the very best that you can."
Stone gets some of her materials from the United States and the rest from India, where she buys from a fair-trade producer, which means the people working on the cotton are getting fair wages and have decent working conditions.
Still, organic cotton makes up a tiny amount of worldwide cotton production. Conventional growers are trying to reduce their effect on the environment, but some of the ways they are doing it are controversial. The industry says pesticide use on cotton crops in countries around the world dropped after growers chose genetically modified seeds - another issue that many environmentalists find problematic.
Realizing that some consumers are looking for more eco-friendly alternatives, though, many companies are developing new crafting materials for people who knit and sew. You can now find yarn made from bamboo, soy and even wood by-products.
But some materials touted as eco-friendly aren't really so, said Montreal designer and knitter Véronik Avery. Bamboo, for example, requires the use of toxic chemicals during its processing, she said. Last year, the U.S. Federal Trade Commission charged four companies with making false green claims, and published a guide for consumers warning them of the "toxic chemicals in a process that releases pollutants into the air."
Avery is one of nearly two dozen contributors to the new book Knitting Green (Interweave Press, $24.95), a collection of Earth-friendly patterns and essays about knitting published last week.
Last fall, Avery launched St-Denis, her own line of wool yarn, produced and processed in the United States. The wool comes from sheep raised in the U.S. Midwest, which is processed at a mill in New England. Avery said one of her goals was to reduce the environmental impact of her yarn, and having it produced in North America meant it didn't have to be shipped from countries like China, Peru or Turkey. Avery said she was concerned about the working conditions for employees of yarn-manufacturing companies operating in those countries. Textile factories have been found to use child labour, force employees to work for days on end without a break and pay extremely low wages.
"I think people should stop looking to get the cheapest possible product, and think about the consequences," Avery said.
"I don't have assurances, if I buy something that was made in China, that nobody was abused."
The problem, for many crafters, though, is the difference in price between conventional and organic materials. The organic cotton Stone uses, for example, costs double what conventional cotton costs. But Eleanor Allen, who runs the yarn store Tricot Quartier in Notre Dame de Grâce, said yarn manufacturers are now starting to offer organic cotton yarns at a variety of prices, with some very close to the price of conventional cotton yarns.
SOURCE: Monique Beaudin, Montreal Gazette
Heads up, retailers - this isn't a conventional type of consumer. While you may have focused largely on products that fit into certain defined categories, there are also eco-minded individuals who are looking at raw materials and want to create their own products with those raw materials. Why not be the go-to for the raw materials right down to the finished items or natural health products? For an excerpt of Beaudin's piece, see below - for the full piece, check out the Montreal Gazette.
__________________
Montreal Gazette
Division of Canwest Publishing Inc.
Green Life Column: Going organic, piece by piece
Eco-friendly raw materials are increasingly popular as those in craft circles grow concerned about the environmental and ethical impacts of the materials they use
By MoniqueB Mon, Apr 26 2010 Green Life
By Monique Beaudin, The Gazette,
You've probably heard the words organic, fair trade and sustainable bandied about when it comes to foods like coffee and chocolate, but have you ever thought about those issues when it comes to your clothes and household items?
How fabric, yarn and other materials are produced is a topic that is starting to get attention in crafty circles.
While some companies are introducing organic alternatives, most of what's available is still produced the conventional way.
Becky Stone makes baby blankets, quilts and other accessories by hand at her home-based business in Hudson. After years of sewing with conventionally produced materials, she decided that the environmental impact of cotton production was too much for her.
She was concerned about the amount of pesticides and insecticides used to grow cotton, and the chemicals used to turn it into fabric. According to the environmental research organization Worldwatch Institute, the dyes used can contain toxic chemicals and processing cotton can release formaldehyde gas, a probable carcinogen.
"As I became more aware of the environmental issues, I began to feel increasingly guilty about buying conventional cotton," Stone said. "I didn't want to be a part of that."
Now Stone uses only organic cotton and batting. She said the response to her choice has been favourable. Since launching her business, the Organic Quilt Company, in 2008, she has been selling her environmentally friendly quilts and blankets in boutiques and online around the world. Every year, she makes hundreds of baby blankets and accessories, as well as several custom-made quilts, she said.
"As people become more aware of organic cotton and environmental issues, they are actively seeking alternatives, especially for babies," she said. "When you're thinking of a newborn baby, you really want to protect them with the very best that you can."
Stone gets some of her materials from the United States and the rest from India, where she buys from a fair-trade producer, which means the people working on the cotton are getting fair wages and have decent working conditions.
Still, organic cotton makes up a tiny amount of worldwide cotton production. Conventional growers are trying to reduce their effect on the environment, but some of the ways they are doing it are controversial. The industry says pesticide use on cotton crops in countries around the world dropped after growers chose genetically modified seeds - another issue that many environmentalists find problematic.
Realizing that some consumers are looking for more eco-friendly alternatives, though, many companies are developing new crafting materials for people who knit and sew. You can now find yarn made from bamboo, soy and even wood by-products.
But some materials touted as eco-friendly aren't really so, said Montreal designer and knitter Véronik Avery. Bamboo, for example, requires the use of toxic chemicals during its processing, she said. Last year, the U.S. Federal Trade Commission charged four companies with making false green claims, and published a guide for consumers warning them of the "toxic chemicals in a process that releases pollutants into the air."
Avery is one of nearly two dozen contributors to the new book Knitting Green (Interweave Press, $24.95), a collection of Earth-friendly patterns and essays about knitting published last week.
Last fall, Avery launched St-Denis, her own line of wool yarn, produced and processed in the United States. The wool comes from sheep raised in the U.S. Midwest, which is processed at a mill in New England. Avery said one of her goals was to reduce the environmental impact of her yarn, and having it produced in North America meant it didn't have to be shipped from countries like China, Peru or Turkey. Avery said she was concerned about the working conditions for employees of yarn-manufacturing companies operating in those countries. Textile factories have been found to use child labour, force employees to work for days on end without a break and pay extremely low wages.
"I think people should stop looking to get the cheapest possible product, and think about the consequences," Avery said.
"I don't have assurances, if I buy something that was made in China, that nobody was abused."
The problem, for many crafters, though, is the difference in price between conventional and organic materials. The organic cotton Stone uses, for example, costs double what conventional cotton costs. But Eleanor Allen, who runs the yarn store Tricot Quartier in Notre Dame de Grâce, said yarn manufacturers are now starting to offer organic cotton yarns at a variety of prices, with some very close to the price of conventional cotton yarns.
SOURCE: Monique Beaudin, Montreal Gazette
RESEARCH NEWS: Vitamin B6 Intake Inversely Associated With Risk of Colorectal Cancer
VITAMIN B6 INTAKE INVERSELY ASSOCIATED WITH RISK OF COLORECTAL CANCER
A meta-analysis of 13 prospective studies investigated the association of vitamin B6 intake with risk of colorectal cancer. Nine studies on vitamin B6 intake and four studies on blood pyridoxal 5’-phosphate (PLP) were included in the meta-analysis. An inverse association between vitamin B6 intake and blood PLP levels and the risk of colorectal cancer was found. Pooled analysis showed that the highest categories of vitamin B6 intake and blood levels of PLP were independently associated with a 10% reduced risk of colorectal cancer, compared with the corresponding lowest categories. Every 100-pmol/mL increase in blood PLP levels was associated with a 49% reduced risk of colorectal cancer. The authors of this study concluded, "Vitamin B6 intake and blood PLP levels were inversely associated with the risk of colorectal cancer in this meta-analysis.”
SOURCE: VitaSearch
A meta-analysis of 13 prospective studies investigated the association of vitamin B6 intake with risk of colorectal cancer. Nine studies on vitamin B6 intake and four studies on blood pyridoxal 5’-phosphate (PLP) were included in the meta-analysis. An inverse association between vitamin B6 intake and blood PLP levels and the risk of colorectal cancer was found. Pooled analysis showed that the highest categories of vitamin B6 intake and blood levels of PLP were independently associated with a 10% reduced risk of colorectal cancer, compared with the corresponding lowest categories. Every 100-pmol/mL increase in blood PLP levels was associated with a 49% reduced risk of colorectal cancer. The authors of this study concluded, "Vitamin B6 intake and blood PLP levels were inversely associated with the risk of colorectal cancer in this meta-analysis.”
SOURCE: VitaSearch
Friday, April 23, 2010
RESEARCH NEWS: Iron Supplementation May Positively Impact Pregnancy Outcomes in Anemic Pregnant Women
In a study published in the journal Nutrition, researchers found that iron supplementation in anemic pregnant women may reduce the risk of preterm birth.
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Iron Supplementation May Positively Impact Pregnancy Outcomes in Anemic Pregnant Women
"Iron deficiency anemia: Pregnancy outcomes with or without iron supplementation," Banhidy F, Czeizel AE, et al, Nutrition, 2010 Apr 7; [Epub ahead of print]. (Address: Second Department of Obstetrics and Gynecology, Semmelweis University, School of Medicine, Budapest, Hungary).
Summary: In a population-based, case-control study involving 22,843 pregnant women who had malformed fetuses/newborns (cases) and 38,151 pregnant women who had healthy babies (controls), results indicate that anemic pregnant women receiving iron supplementation may reduce the risk of preterm birth. Approximately 14% of cases and 17% of controls had anemia. Anemic pregnant women who did not receive iron supplementation had significantly shorter gestational age at delivery and higher rate of preterm delivery, compared with anemic pregnant women who received iron supplementation. Thus, the authors of this study conclude, "A higher rate of preterm birth was found in anemic pregnant women without iron treatment but this adverse birth outcome was prevented with iron supplementation."
SOURCE: VitaSearch, "Iron deficiency anemia: Pregnancy outcomes with or without iron supplementation," Banhidy F, Czeizel AE, et al, Nutrition, 2010 Apr 7; [Epub ahead of print]. (Address: Second Department of Obstetrics and Gynecology, Semmelweis University, School of Medicine, Budapest, Hungary).
________________________
Iron Supplementation May Positively Impact Pregnancy Outcomes in Anemic Pregnant Women
"Iron deficiency anemia: Pregnancy outcomes with or without iron supplementation," Banhidy F, Czeizel AE, et al, Nutrition, 2010 Apr 7; [Epub ahead of print]. (Address: Second Department of Obstetrics and Gynecology, Semmelweis University, School of Medicine, Budapest, Hungary).
Summary: In a population-based, case-control study involving 22,843 pregnant women who had malformed fetuses/newborns (cases) and 38,151 pregnant women who had healthy babies (controls), results indicate that anemic pregnant women receiving iron supplementation may reduce the risk of preterm birth. Approximately 14% of cases and 17% of controls had anemia. Anemic pregnant women who did not receive iron supplementation had significantly shorter gestational age at delivery and higher rate of preterm delivery, compared with anemic pregnant women who received iron supplementation. Thus, the authors of this study conclude, "A higher rate of preterm birth was found in anemic pregnant women without iron treatment but this adverse birth outcome was prevented with iron supplementation."
SOURCE: VitaSearch, "Iron deficiency anemia: Pregnancy outcomes with or without iron supplementation," Banhidy F, Czeizel AE, et al, Nutrition, 2010 Apr 7; [Epub ahead of print]. (Address: Second Department of Obstetrics and Gynecology, Semmelweis University, School of Medicine, Budapest, Hungary).
BUSINESS NEWS: GeoPharma Reduces Senior Convertible Debt
GeoPharma, Inc. announced that since December 31, 2009, it has reduced its 12% convertible debt owed to Whitebox Pharmaceutical Growth Fund by approximately $1.7 million gross, or approximately $1.3 million net after the effect of the current quarterly principal accretion of interest.
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GeoPharma Reduces Senior Convertible Debt
LARGO, Fla., (GlobeNewswire via COMTEX News Network) -- GeoPharma, Inc. (Nasdaq:GORX) (the "Company") announced today that since December 31, 2009, it has reduced its 12% convertible debt (the "Debt") owed to Whitebox Pharmaceutical Growth Fund ("Whitebox") by approximately $1.7 million gross, or approximately $1.3 million net after the effect of the current quarterly principal accretion of interest. As of December 31, 2009, the Company owed Whitebox approximately $15.9 million and since that time, Whitebox has elected through common stock conversions, to convert $1.7 million of principal outstanding in exchange for the Company's $0.01 par value common stock. Whitebox has made several written conversion requests since December 31, 2009 in increments ranging from $100,000 - $250,000 as applied directly to the Debt's outstanding principal and as such, the Company has issued an approximate 5,160,000 common shares cumulatively since December 31, 2009 or 19.3% of the 26,695,735 total shares currently outstanding.
As previously disclosed in the Company's March 31, 2009 Form 10-K as filed June 30, 2009, in addition to as disclosed in the Company's filed, and shareholder approved, proxy for the 2009 Annual Meeting held March 30, 2010, the Company's executive management agreed effective January 1, 2009 to receive common stock in lieu of certain portions of their cash-based salaried compensation. In addition, the Company's board of directors also agreed to accept common stock in lieu of all of their cash-based compensation. All of this compensation was also included within accrued current liabilities as of December 31, 2009.
The above stock issuances subsequent to December 31, 2009 to Whitebox and to the Company's executive management and board of directors result in a decrease in current liabilities of approximately $1.3 million and a decrease of approximately $1.7 million, respectively, for a total liability reduction of approximately $3 million all of which results in an aggregate increase of $3 million in stockholders' equity.
SOURCE: GeoPharma Press Release
__________________________
GeoPharma Reduces Senior Convertible Debt
LARGO, Fla., (GlobeNewswire via COMTEX News Network) -- GeoPharma, Inc. (Nasdaq:GORX) (the "Company") announced today that since December 31, 2009, it has reduced its 12% convertible debt (the "Debt") owed to Whitebox Pharmaceutical Growth Fund ("Whitebox") by approximately $1.7 million gross, or approximately $1.3 million net after the effect of the current quarterly principal accretion of interest. As of December 31, 2009, the Company owed Whitebox approximately $15.9 million and since that time, Whitebox has elected through common stock conversions, to convert $1.7 million of principal outstanding in exchange for the Company's $0.01 par value common stock. Whitebox has made several written conversion requests since December 31, 2009 in increments ranging from $100,000 - $250,000 as applied directly to the Debt's outstanding principal and as such, the Company has issued an approximate 5,160,000 common shares cumulatively since December 31, 2009 or 19.3% of the 26,695,735 total shares currently outstanding.
As previously disclosed in the Company's March 31, 2009 Form 10-K as filed June 30, 2009, in addition to as disclosed in the Company's filed, and shareholder approved, proxy for the 2009 Annual Meeting held March 30, 2010, the Company's executive management agreed effective January 1, 2009 to receive common stock in lieu of certain portions of their cash-based salaried compensation. In addition, the Company's board of directors also agreed to accept common stock in lieu of all of their cash-based compensation. All of this compensation was also included within accrued current liabilities as of December 31, 2009.
The above stock issuances subsequent to December 31, 2009 to Whitebox and to the Company's executive management and board of directors result in a decrease in current liabilities of approximately $1.3 million and a decrease of approximately $1.7 million, respectively, for a total liability reduction of approximately $3 million all of which results in an aggregate increase of $3 million in stockholders' equity.
SOURCE: GeoPharma Press Release
BUSINESS NEWS: Consumer Price Index Data - StatsCan
Consumer prices rose 1.4% in the 12 months to March, following a 1.6% increase in February.
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Consumer prices rose 1.4% in the 12 months to March, following a 1.6% increase in February.
The 12-month change in the Consumer Price Index
Gasoline prices exerted the most upward pressure on the all-items Consumer Price Index (CPI) for the fifth consecutive month. In March, prices at the pump were 17.2% higher than they were in March 2009. This follows a 15.3% rise in the 12 months to February.
Evolution of the gasoline price index since March 2007
Energy prices rose 5.8% between March 2009 and March 2010, following a 4.0% increase in the 12 months to February.
Excluding energy, the CPI rose 1.0% in the 12 months to March, compared with a 1.3% increase in February.
Prices for the purchase of passenger vehicles put upward pressure on the CPI for the third consecutive month in March. Prices for the purchase of passenger vehicles rose 3.9%, following a 3.5% increase in February.
Seasonally adjusted monthly CPI falls
On a seasonally adjusted monthly basis, the CPI fell 0.1% in March, after remaining unchanged from January to February. March's decline was due primarily to a 2.0% decrease in the recreation, education and reading component. Lower prices for traveller accommodation largely accounted for the downward movement within this component.
The decline in the seasonally adjusted monthly CPI in March was the first decrease since July 2009.
12-month change: Six of the eight CPI components rise
Overall, six of the eight major components of the CPI recorded price increases in the 12 months to March. The exceptions were shelter, and clothing and footwear.
Transportation continues to exert the most upward pressure on the Consumer Price Index
Transportation prices, which rose 6.0%, exerted the strongest upward pressure on the all-items CPI for the fifth consecutive month. In addition to higher gasoline and passenger vehicle prices, consumers paid 5.5% more for passenger vehicle insurance premiums in March than a year ago. The cost of inter-city transportation fell 9.6%.
Food prices advanced 1.3%, following a 1.2% increase in February. Upward pressure on the food index came mainly from prices for food purchased from restaurants (+2.6%). Price increases were also observed for sugar and confectionery and non-alcoholic beverages. Prices fell for fresh vegetables, meat, and fresh fruit.
Prices for household operations, furnishings and equipment increased 1.4% in the 12 months to March. Upward pressure in this component came mostly from prices for communications, other household goods and services, and child care and domestic services.
In the health and personal care component, prices rose 2.7% and increases were broad-based. Prices for health care services increased 4.5%, while prices for personal care supplies and equipment rose 3.1%.
Prices in the recreation, education and reading component increased 0.7% in the 12 months to March. Consumers paid more for tuition fees and cablevision and satellite services.
Shelter costs fell 0.7%, mainly the result of declines in mortgage interest cost and natural gas prices.
The mortgage interest cost index, which measures the change in the interest portion of payments on outstanding mortgage debt, fell 6.0% in March, following a 5.8% decrease in February.
Prices for clothing and footwear declined 2.2%. The strongest downward pressure in this component came from lower prices for women's clothing and women's footwear. Prices for children's and men's clothing also declined.
12-month change: Consumer prices increase in all provinces
Consumer prices increased in all provinces in the 12 months to March. The most significant upward pressure on prices in all provinces came from gasoline prices.
As was the case in January and February, the largest year-over-year increases occurred in the four Atlantic provinces. Higher prices in Atlantic Canada were partly attributable to larger upward movements in gasoline. Gasoline price increases in Atlantic Canada ranged from 20.3% in Newfoundland and Labrador to 23.8% in Nova Scotia. As well, prices for fuel oil and other fuels advanced 20.7% nationally in the 12 months to March, the largest increase since October 2008.
Atlantic provinces post the highest price increases
In Ontario, prices rose 1.4%. This was due primarily to higher prices for gasoline, passenger vehicle insurance premiums, and the purchase of passenger vehicles. Downward pressure came mainly from lower prices for natural gas.
Prices in British Columbia rose 0.5% in March compared with the same month in 2009, after a 1.2% increase in February. The increase was due mainly to the upward pressure from gasoline prices and property taxes. Prices for traveller accommodation returned closer to the January level, prior to the Winter Olympics. Prices for traveller accommodation increased 2.8% in the 12-months to March, following a 64.1% increase in February.
12-month change in the Bank of Canada's core index
The Bank of Canada's core index advanced 1.7% over the 12 months to March, following a 2.1% rise in February. March's increase was due primarily to a rise in prices for the purchase of passenger vehicles, passenger vehicle insurance premiums, property taxes, and food purchased from restaurants.
The seasonally adjusted monthly core index fell 0.3% in March, following a 0.4% increase in February.
SOURCE: StatsCan
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Consumer prices rose 1.4% in the 12 months to March, following a 1.6% increase in February.
The 12-month change in the Consumer Price Index
Gasoline prices exerted the most upward pressure on the all-items Consumer Price Index (CPI) for the fifth consecutive month. In March, prices at the pump were 17.2% higher than they were in March 2009. This follows a 15.3% rise in the 12 months to February.
Evolution of the gasoline price index since March 2007
Energy prices rose 5.8% between March 2009 and March 2010, following a 4.0% increase in the 12 months to February.
Excluding energy, the CPI rose 1.0% in the 12 months to March, compared with a 1.3% increase in February.
Prices for the purchase of passenger vehicles put upward pressure on the CPI for the third consecutive month in March. Prices for the purchase of passenger vehicles rose 3.9%, following a 3.5% increase in February.
Seasonally adjusted monthly CPI falls
On a seasonally adjusted monthly basis, the CPI fell 0.1% in March, after remaining unchanged from January to February. March's decline was due primarily to a 2.0% decrease in the recreation, education and reading component. Lower prices for traveller accommodation largely accounted for the downward movement within this component.
The decline in the seasonally adjusted monthly CPI in March was the first decrease since July 2009.
12-month change: Six of the eight CPI components rise
Overall, six of the eight major components of the CPI recorded price increases in the 12 months to March. The exceptions were shelter, and clothing and footwear.
Transportation continues to exert the most upward pressure on the Consumer Price Index
Transportation prices, which rose 6.0%, exerted the strongest upward pressure on the all-items CPI for the fifth consecutive month. In addition to higher gasoline and passenger vehicle prices, consumers paid 5.5% more for passenger vehicle insurance premiums in March than a year ago. The cost of inter-city transportation fell 9.6%.
Food prices advanced 1.3%, following a 1.2% increase in February. Upward pressure on the food index came mainly from prices for food purchased from restaurants (+2.6%). Price increases were also observed for sugar and confectionery and non-alcoholic beverages. Prices fell for fresh vegetables, meat, and fresh fruit.
Prices for household operations, furnishings and equipment increased 1.4% in the 12 months to March. Upward pressure in this component came mostly from prices for communications, other household goods and services, and child care and domestic services.
In the health and personal care component, prices rose 2.7% and increases were broad-based. Prices for health care services increased 4.5%, while prices for personal care supplies and equipment rose 3.1%.
Prices in the recreation, education and reading component increased 0.7% in the 12 months to March. Consumers paid more for tuition fees and cablevision and satellite services.
Shelter costs fell 0.7%, mainly the result of declines in mortgage interest cost and natural gas prices.
The mortgage interest cost index, which measures the change in the interest portion of payments on outstanding mortgage debt, fell 6.0% in March, following a 5.8% decrease in February.
Prices for clothing and footwear declined 2.2%. The strongest downward pressure in this component came from lower prices for women's clothing and women's footwear. Prices for children's and men's clothing also declined.
12-month change: Consumer prices increase in all provinces
Consumer prices increased in all provinces in the 12 months to March. The most significant upward pressure on prices in all provinces came from gasoline prices.
As was the case in January and February, the largest year-over-year increases occurred in the four Atlantic provinces. Higher prices in Atlantic Canada were partly attributable to larger upward movements in gasoline. Gasoline price increases in Atlantic Canada ranged from 20.3% in Newfoundland and Labrador to 23.8% in Nova Scotia. As well, prices for fuel oil and other fuels advanced 20.7% nationally in the 12 months to March, the largest increase since October 2008.
Atlantic provinces post the highest price increases
In Ontario, prices rose 1.4%. This was due primarily to higher prices for gasoline, passenger vehicle insurance premiums, and the purchase of passenger vehicles. Downward pressure came mainly from lower prices for natural gas.
Prices in British Columbia rose 0.5% in March compared with the same month in 2009, after a 1.2% increase in February. The increase was due mainly to the upward pressure from gasoline prices and property taxes. Prices for traveller accommodation returned closer to the January level, prior to the Winter Olympics. Prices for traveller accommodation increased 2.8% in the 12-months to March, following a 64.1% increase in February.
12-month change in the Bank of Canada's core index
The Bank of Canada's core index advanced 1.7% over the 12 months to March, following a 2.1% rise in February. March's increase was due primarily to a rise in prices for the purchase of passenger vehicles, passenger vehicle insurance premiums, property taxes, and food purchased from restaurants.
The seasonally adjusted monthly core index fell 0.3% in March, following a 0.4% increase in February.
SOURCE: StatsCan
BUSINESS NEWS: Retail Trade Data - StatsCan
Retail sales increased for a third consecutive month in February, rising 0.5% in current dollars to $36.0 billion. Higher sales at new car dealers were the main contributor to the gain.
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Retail trade
February 2010
Retail sales increased for a third consecutive month in February, rising 0.5% in current dollars to $36.0 billion. Higher sales at new car dealers were the main contributor to the gain.
Sales in volume terms increased 0.6% in February. Retail sales volumes have been following an upward trend since the beginning of 2009.
Retail sales rise in February
Sales increased in 7 of 11 retail subsectors in February. The largest contributor to the overall increase was a 2.9% gain at motor vehicle and parts dealers, where sales rose for the first time since October. Within the subsector, sales rose 3.8% at new car dealers following three consecutive monthly declines. This reflects higher sales of both passenger cars and trucks according to the New Motor Vehicle Sales Survey. Sales rose 0.8% at automotive parts, accessories and tire stores. Sales were lower for a third consecutive month at both used car dealers (-1.8%) and other motor vehicle dealers (-0.9%). Other motor vehicle dealers sell vehicles such as motor homes, motorcycles, boats and snowmobiles.
The clothing and clothing accessories stores subsector (+4.3%) saw their sales increase in February for a third consecutive month. Sales rose 5.5% at clothing stores and 1.1% at jewellery, luggage and leather goods stores, while they fell 0.7% at shoe stores. Higher clothing sales also contributed to a 1.0% gain in the general merchandise stores subsector.
Sales in the food and beverage stores subsector rose 0.5% in February, led by a 3.7% increase at beer, wine and liquor stores. This reflects higher sales of alcoholic beverages across the country in the month of the 2010 Winter Olympic Games. Sales at supermarkets and other grocery stores edged down 0.1%.
Sales at gasoline stations (+0.5%) rose for a 10th consecutive month.
Retail sales were dampened by declines at building material and garden equipment and supplies dealers (-7.6%) and furniture and home furnishing stores (-3.5%). These declines did not offset the large gains reported in January, which was the final month of the federal government's Home Renovation Tax Credit.
Note to readers
All data in this release are seasonally adjusted and are expressed in current dollars unless otherwise specified.
Sales up in nine provinces
Retail sales rose in nine provinces in February. The largest contributor to the increase was Alberta, where sales rose 1.0%, reflecting strong sales at new car dealers.
New Brunswick had the highest growth rate among the provinces in February with a 2.5% rise in sales, followed by Nova Scotia (+1.7%), Newfoundland and Labrador (+1.5%) and Manitoba (+1.4%). Sales growth in these provinces was heavily influenced by higher sales at new car dealers.
Retail sales edged up 0.1% in British Columbia in February, where the 2010 Winter Olympic Games were held. Strong sales were reported at clothing stores and beer, wine and liquor stores. This was offset by lower sales at new car dealers and furniture stores.
SOURCE: StatsCan
________________________________
Retail trade
February 2010
Retail sales increased for a third consecutive month in February, rising 0.5% in current dollars to $36.0 billion. Higher sales at new car dealers were the main contributor to the gain.
Sales in volume terms increased 0.6% in February. Retail sales volumes have been following an upward trend since the beginning of 2009.
Retail sales rise in February
Sales increased in 7 of 11 retail subsectors in February. The largest contributor to the overall increase was a 2.9% gain at motor vehicle and parts dealers, where sales rose for the first time since October. Within the subsector, sales rose 3.8% at new car dealers following three consecutive monthly declines. This reflects higher sales of both passenger cars and trucks according to the New Motor Vehicle Sales Survey. Sales rose 0.8% at automotive parts, accessories and tire stores. Sales were lower for a third consecutive month at both used car dealers (-1.8%) and other motor vehicle dealers (-0.9%). Other motor vehicle dealers sell vehicles such as motor homes, motorcycles, boats and snowmobiles.
The clothing and clothing accessories stores subsector (+4.3%) saw their sales increase in February for a third consecutive month. Sales rose 5.5% at clothing stores and 1.1% at jewellery, luggage and leather goods stores, while they fell 0.7% at shoe stores. Higher clothing sales also contributed to a 1.0% gain in the general merchandise stores subsector.
Sales in the food and beverage stores subsector rose 0.5% in February, led by a 3.7% increase at beer, wine and liquor stores. This reflects higher sales of alcoholic beverages across the country in the month of the 2010 Winter Olympic Games. Sales at supermarkets and other grocery stores edged down 0.1%.
Sales at gasoline stations (+0.5%) rose for a 10th consecutive month.
Retail sales were dampened by declines at building material and garden equipment and supplies dealers (-7.6%) and furniture and home furnishing stores (-3.5%). These declines did not offset the large gains reported in January, which was the final month of the federal government's Home Renovation Tax Credit.
Note to readers
All data in this release are seasonally adjusted and are expressed in current dollars unless otherwise specified.
Sales up in nine provinces
Retail sales rose in nine provinces in February. The largest contributor to the increase was Alberta, where sales rose 1.0%, reflecting strong sales at new car dealers.
New Brunswick had the highest growth rate among the provinces in February with a 2.5% rise in sales, followed by Nova Scotia (+1.7%), Newfoundland and Labrador (+1.5%) and Manitoba (+1.4%). Sales growth in these provinces was heavily influenced by higher sales at new car dealers.
Retail sales edged up 0.1% in British Columbia in February, where the 2010 Winter Olympic Games were held. Strong sales were reported at clothing stores and beer, wine and liquor stores. This was offset by lower sales at new car dealers and furniture stores.
SOURCE: StatsCan
Thursday, April 22, 2010
INDUSTRY NEWS: Job Posting - National Sales Manager Position at Upper 49th
Upper 49th: Canada's Leading Provider of Performance Nutrition and Natural Health Products is seeking a National Sales Manager for the Specialty Division. As the leader of the Upper 49th sales team you would represent some of North America's top multi-million dollar Health & Nutrition brands in the Canadian retail channel.
Working out of our Oakville office and reporting to the Director of Sales, the appointee will be responsible for managing and growing the sales team, looking after key accounts within the channel and contributing significantly as a member of the management team.
Sales Team Management Responsibilities:
• Hire, train, manage and motivate the national team of outside and inside sales representatives calling on health and diet retailers
• Develop sales and gross profit targets
• Develop and implement sales strategies to achieve sales and GP targets
• Manage sales team participation in trade shows and consumer events
• Assure maintenance of customer service initiatives including customer care and accuracy
• Develop and manage sales expense budgets
Key Account Responsibilities:
• Develop relationships with key personnel at major national accounts (i.e. GNC, Popeye’s, Reflex)
• Develop sales strategies to increase market share and revenue
• Introduce and implement all brands and promotional initiatives at head office levels within the channel
Management Team Responsibilities:
• Provide competitive information
• Offer input on Upper 49th marketing and promotional initiatives
• Participate in budgeting, forecasting and analyzing sales, expense and GP on a monthly basis
• Work with brand management to develop and implement pricing strategies to achieve maximum GP and market share
• Recommend and assist in all areas where there is opportunity to improve Upper49th
In order to be considered for this position, candidates must meet the following qualifications:
• Proven sales management in Consumer Packaged Goods – minimum 3 years
• Experience in the Diet and Nutrition Industry – minimum 3 years
• Personal excellence in account management
• University education related to business/sales/marketing
• Excellent staff development skills
• A personal interest in health and nutrition
Upper 49th offers competitive compensation including base salary, car allowance, benefits and performance based bonuses; and a strong discounted supplement program.
If you are interested in this position and possess the required aptitudes and skills, please submit your resume and cover letter by fax to 905-844-7037 or by email to tbrewin@upper49th.com or drop it off in person. Thank you to all applicants although only chosen candidates will be contacted. No phone calls please.
Upper 49th is an equal opportunity employer.
Working out of our Oakville office and reporting to the Director of Sales, the appointee will be responsible for managing and growing the sales team, looking after key accounts within the channel and contributing significantly as a member of the management team.
Sales Team Management Responsibilities:
• Hire, train, manage and motivate the national team of outside and inside sales representatives calling on health and diet retailers
• Develop sales and gross profit targets
• Develop and implement sales strategies to achieve sales and GP targets
• Manage sales team participation in trade shows and consumer events
• Assure maintenance of customer service initiatives including customer care and accuracy
• Develop and manage sales expense budgets
Key Account Responsibilities:
• Develop relationships with key personnel at major national accounts (i.e. GNC, Popeye’s, Reflex)
• Develop sales strategies to increase market share and revenue
• Introduce and implement all brands and promotional initiatives at head office levels within the channel
Management Team Responsibilities:
• Provide competitive information
• Offer input on Upper 49th marketing and promotional initiatives
• Participate in budgeting, forecasting and analyzing sales, expense and GP on a monthly basis
• Work with brand management to develop and implement pricing strategies to achieve maximum GP and market share
• Recommend and assist in all areas where there is opportunity to improve Upper49th
In order to be considered for this position, candidates must meet the following qualifications:
• Proven sales management in Consumer Packaged Goods – minimum 3 years
• Experience in the Diet and Nutrition Industry – minimum 3 years
• Personal excellence in account management
• University education related to business/sales/marketing
• Excellent staff development skills
• A personal interest in health and nutrition
Upper 49th offers competitive compensation including base salary, car allowance, benefits and performance based bonuses; and a strong discounted supplement program.
If you are interested in this position and possess the required aptitudes and skills, please submit your resume and cover letter by fax to 905-844-7037 or by email to tbrewin@upper49th.com or drop it off in person. Thank you to all applicants although only chosen candidates will be contacted. No phone calls please.
Upper 49th is an equal opportunity employer.
INDUSTRY NEWS: Announcement - New Director of Sales at Upper 49th
Upper 49th is pleased to announce that Tara Brewin has accepted the role of Director of Sales overseeing both mass market and health and diet businesses. Tara is currently beginning the search for a National Sales Manager to replace her in managing the health and diet business in Canada. This is a key position for us to fill and it may take some time to find the perfect individual. Tara will continue to maintain key relationships within the health and diet market through the transition and beyond.
For more, check out the next issue of ihr magazine!
SOURCE: Upper 49th
For more, check out the next issue of ihr magazine!
SOURCE: Upper 49th
INDUSTRY NEWS: Canada's Greenest Employers for 2010 Announced
This year's list of Canada's Greenest Employers has been announced by the editors of the Canada's Top 100 Employers project, and includes companies like Loblaw Companies Limited, RIM and MEC.
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Canada's Greenest Employers for 2010 Announced
TORONTO, April 22 /CNW/ - This year's list of Canada's Greenest Employers was announced this morning by the editors of the Canada's Top 100 Employers project. Fifty organizations across Canada were recognized on this year's list.
"We've seen a significant increase in the number of organizations that are incorporating environmental values into their culture," says Richard Yerema, Managing Editor at Mediacorp Canada Inc. "These organizations recognize the importance of environmental values to their employees and customers - their initiatives read like a catalogue of best-practices."
Now in its third year, the Canada's Greenest Employers competition grew out of two remarkable speeches given by Robert F. Kennedy Jr. and Al Gore at the annual conference on the Canada's Top 100 Employers project in 2006 and 2007. "The competition is unique in that our editorial team takes the time to write out detailed Reasons for Selection, explaining why every winner was chosen," says Tony Meehan, Publisher of the Canada's Top 100 Employers project. "This provides transparency in the selection process and inspires other employers to emulate their best-practices, raising the bar for everyone."
This year's list includes some of Canada's best-known employers, plus more than a few less-familiar organizations with remarkable environmental initiatives that the editorial team wanted to recognize. The resulting list offers readers hundreds of great ideas that the winning employers have successfully put in place. A full list of their projects and the editors' detailed Reasons for Selection can be viewed at: http://www.CanadasTop100.com/environmental
The 2010 winners are (in alphabetical order):
Abbotsford Community Services
Aeroplan LP
ARAMARK Canada Ltd.
Bayer Inc.
BC Public Service
Bell Aliant Regional Communications
British Columbia Institute of Technology
Busby Perkins+Will Architect Co.
Certified General Accountants Association of Canada
Christie Digital Systems Canada, Inc.
Compass Group Canada
Davis + Henderson LP
Enbridge Inc.
Enermodal Engineering Ltd.
Enmax Corporation
Fairmont Hotels & Resorts
Georgian College
Hewlett-Packard (Canada) Co.
Home Depot Canada, The
IKEA Canada Limited Partnership
KPMG LLP
Kwantlen Polytechnic University
Loblaw Companies Limited
LoyaltyOne, Inc.
McGill University Health Centre
Mountain Equipment Co-op
New Flyer Industries Canada ULC
Northern Alberta Institute of Technology
Ontario Public Service
Patient News Publishing Inc.
Rescan Environmental Services Ltd.
Research In Motion Limited
Royal Bank of Canada
Sapient Canada, Inc.
SAS Institute Canada, Inc.
SaskTel
Stantec
State Farm Insurance
Steam Whistle Brewing
Sunnybrook Health Sciences Centre
TD Bank Financial Group
Toronto Hydro Corporation
Toronto, City of
University of Alberta
University of Victoria
Vancity Group
Vancouver Aquarium Marine Science Centre
Veridian Corporation
Whistler Blackcomb
Whistler, Resort Municipality of
SOURCE: CNW Newswire Press Release
________________
Canada's Greenest Employers for 2010 Announced
TORONTO, April 22 /CNW/ - This year's list of Canada's Greenest Employers was announced this morning by the editors of the Canada's Top 100 Employers project. Fifty organizations across Canada were recognized on this year's list.
"We've seen a significant increase in the number of organizations that are incorporating environmental values into their culture," says Richard Yerema, Managing Editor at Mediacorp Canada Inc. "These organizations recognize the importance of environmental values to their employees and customers - their initiatives read like a catalogue of best-practices."
Now in its third year, the Canada's Greenest Employers competition grew out of two remarkable speeches given by Robert F. Kennedy Jr. and Al Gore at the annual conference on the Canada's Top 100 Employers project in 2006 and 2007. "The competition is unique in that our editorial team takes the time to write out detailed Reasons for Selection, explaining why every winner was chosen," says Tony Meehan, Publisher of the Canada's Top 100 Employers project. "This provides transparency in the selection process and inspires other employers to emulate their best-practices, raising the bar for everyone."
This year's list includes some of Canada's best-known employers, plus more than a few less-familiar organizations with remarkable environmental initiatives that the editorial team wanted to recognize. The resulting list offers readers hundreds of great ideas that the winning employers have successfully put in place. A full list of their projects and the editors' detailed Reasons for Selection can be viewed at: http://www.CanadasTop100.com/environmental
The 2010 winners are (in alphabetical order):
Abbotsford Community Services
Aeroplan LP
ARAMARK Canada Ltd.
Bayer Inc.
BC Public Service
Bell Aliant Regional Communications
British Columbia Institute of Technology
Busby Perkins+Will Architect Co.
Certified General Accountants Association of Canada
Christie Digital Systems Canada, Inc.
Compass Group Canada
Davis + Henderson LP
Enbridge Inc.
Enermodal Engineering Ltd.
Enmax Corporation
Fairmont Hotels & Resorts
Georgian College
Hewlett-Packard (Canada) Co.
Home Depot Canada, The
IKEA Canada Limited Partnership
KPMG LLP
Kwantlen Polytechnic University
Loblaw Companies Limited
LoyaltyOne, Inc.
McGill University Health Centre
Mountain Equipment Co-op
New Flyer Industries Canada ULC
Northern Alberta Institute of Technology
Ontario Public Service
Patient News Publishing Inc.
Rescan Environmental Services Ltd.
Research In Motion Limited
Royal Bank of Canada
Sapient Canada, Inc.
SAS Institute Canada, Inc.
SaskTel
Stantec
State Farm Insurance
Steam Whistle Brewing
Sunnybrook Health Sciences Centre
TD Bank Financial Group
Toronto Hydro Corporation
Toronto, City of
University of Alberta
University of Victoria
Vancity Group
Vancouver Aquarium Marine Science Centre
Veridian Corporation
Whistler Blackcomb
Whistler, Resort Municipality of
SOURCE: CNW Newswire Press Release
INDUSTRY NEWS: Loblaw's commitment to respect the environment earns spot on Canada's Greenest Employers list
Loblaw Companies Limited, one of Canada's largest private sector employers, has been named one of Canada's Greenest Employers for 2010 in recognition of the Company's leading earth-friendly initiatives and efforts to incorporate environmental values into its corporate culture.
"We are very proud to be recognized as one of Canada's Greenest Employers," said Judy McCrie, executive vice president, human resources, Loblaw Companies Limited. "This award is a testament to the hard work of our colleagues, franchise and franchise employees and their commitment to making environmental initiatives important."
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Loblaw's commitment to respect the environment earns spot on Canada's Greenest Employers list
Canada's largest grocery retailer recognized for environmental initiatives
BRAMPTON, ON, April 22 /CNW/ - Loblaw Companies Limited (Loblaw), one of Canada's largest private sector employers, has been named one of Canada's Greenest Employers for 2010 in recognition of the Company's leading earth-friendly initiatives and efforts to incorporate environmental values into its corporate culture.
"We are very proud to be recognized as one of Canada's Greenest Employers," said Judy McCrie, executive vice president, human resources, Loblaw Companies Limited. "This award is a testament to the hard work of our colleagues, franchise and franchise employees and their commitment to making environmental initiatives important."
Utilizing its network of colleague communication tools and activities, Loblaw has created awareness and support for environmental initiatives by colleagues, franchises and franchise employees. Activities such as the recent WWF-Canada Sweater Day, where Loblaw corporate and participating franchise stores turned down store thermostats by three degrees Celsius, in an effort to show colleagues, customers and franchise employees how small changes can make a difference on the environment, was embraced at store level and regional offices.
"At Loblaw, respecting the environment is one of the five corporate social responsibility pillars that help guide the way we do business. We deliver on this commitment by driving innovation in product development, waste reduction, energy efficiency and more - all with the goal of reducing the environmental impact of our operations," said Bob Chant, vice president, corporate affairs, Loblaw Companies Limited. "We are very proud to be recognized for the progress we've made to date and we hope that the recognition inspires everyone at Loblaw to continue to make a difference to our environment."
Among the initiatives that helped Loblaw earn its place on Canada's Greenest Employers list include:
- Kicking the plastic bag habit: Loblaw and participating franchises
successfully diverted more than 1.3 billion plastic shopping bags
from landfill since 2007. Partial proceeds from the five cent charge
on plastic shopping bags support WWF-Canada programs to engage
Canadians to make changes to positively affect the environment.
- Sustainable Seafood Commitment: In 2009, Loblaw made a commitment to
source all seafood sold in its retail locations from sustainable
sources by the end of 2013. The commitment covers all canned, frozen,
fresh, wild and farmed seafood products in all categories. Loblaw is
working with partners including WWF-Canada, the Marine Stewardship
Council (MSC) as well as marine scientists, conservation experts and
vendors to achieve this goal.
- Carbon footprint reduction: Loblaw has launched several programs
aimed at reducing lighting and energy use in-store. In 2009, the
Company installed a wind turbine at the Atlantic Superstore in
Porters Lake, Nova Scotia to help reduce carbon emissions by adding
green energy production capability. Loblaw also uses alternative
refrigeration system design to reduce energy consumption and
refrigerant use in-store. In 2010 Loblaw will install solar panels at
four store rooftops in Ontario, with the potential to rollout the
program to more than 100 stores across the province. Loblaw has also
achieved efficiencies in the management of its transport fleet,
having achieved a four per cent improvement in fuel efficiency per
kilometre driven in the past two years.
- On site waste reduction and diversion: Loblaw and its franchises are
working to divert 70 percent of waste generated from stores and
distribution centres from landfill. As part of this initiative,
stores in various regions across the country, are separating organic
waste and diverting this to compost and biogas facilities. Grease
from in-store cooking is also being collected and converted to
biodiesel for use by our transport fleet.
- Driving product innovation: For 20 years, Loblaw has been developing
and expanding the PC(R) G.R.E.E.N line of products to offer
high-performance, eco-friendly alternatives to Canadians at great
prices. All Loblaw PC(R) G.R.E.E.N products are approved by Colin
Isaacs - an independent and leading Canadian environmental scientist.
Today, PC(R) G.R.E.E.N offers more than 40 products ranging from lawn
and garden to household cleaning, to help customers take steps
towards reducing their environmental footprints.
"Through our partnership with Loblaw on environmental initiatives, we have witnessed the depth of the Company's commitment to conservation and are particularly impressed with its world-leading commitment to source 100 per cent sustainable seafood," said Gerald Butts, president and CEO, WWF-Canada. "We congratulate Loblaw on being named one of Canada's Greenest Employers and look forward to continuing our work with the Company."
Launched in 2007, the Canada's Greenest Employers competition is organized by the editors of the Canada's Top 100 Employers project. This special designation recognizes the employers that lead the nation in creating a corporate culture of environmental awareness, have developed exceptional earth-friendly initiatives and attracting people to their organizations because of their environmental leadership.
Employers are evaluated based on the following criteria: (1) the unique environmental initiatives and programs they have developed; (2) the extent to which they have been successful in reducing the organization's own environmental footprint; (3) the degree to which their employees are involved in these programs and whether they contribute any unique skills; and (4) the extent to which these initiatives have become linked to the employer's public identity and whether they attract new people to the organization.
SOURCE: CNW Newswire
"We are very proud to be recognized as one of Canada's Greenest Employers," said Judy McCrie, executive vice president, human resources, Loblaw Companies Limited. "This award is a testament to the hard work of our colleagues, franchise and franchise employees and their commitment to making environmental initiatives important."
_______________________
Loblaw's commitment to respect the environment earns spot on Canada's Greenest Employers list
Canada's largest grocery retailer recognized for environmental initiatives
BRAMPTON, ON, April 22 /CNW/ - Loblaw Companies Limited (Loblaw), one of Canada's largest private sector employers, has been named one of Canada's Greenest Employers for 2010 in recognition of the Company's leading earth-friendly initiatives and efforts to incorporate environmental values into its corporate culture.
"We are very proud to be recognized as one of Canada's Greenest Employers," said Judy McCrie, executive vice president, human resources, Loblaw Companies Limited. "This award is a testament to the hard work of our colleagues, franchise and franchise employees and their commitment to making environmental initiatives important."
Utilizing its network of colleague communication tools and activities, Loblaw has created awareness and support for environmental initiatives by colleagues, franchises and franchise employees. Activities such as the recent WWF-Canada Sweater Day, where Loblaw corporate and participating franchise stores turned down store thermostats by three degrees Celsius, in an effort to show colleagues, customers and franchise employees how small changes can make a difference on the environment, was embraced at store level and regional offices.
"At Loblaw, respecting the environment is one of the five corporate social responsibility pillars that help guide the way we do business. We deliver on this commitment by driving innovation in product development, waste reduction, energy efficiency and more - all with the goal of reducing the environmental impact of our operations," said Bob Chant, vice president, corporate affairs, Loblaw Companies Limited. "We are very proud to be recognized for the progress we've made to date and we hope that the recognition inspires everyone at Loblaw to continue to make a difference to our environment."
Among the initiatives that helped Loblaw earn its place on Canada's Greenest Employers list include:
- Kicking the plastic bag habit: Loblaw and participating franchises
successfully diverted more than 1.3 billion plastic shopping bags
from landfill since 2007. Partial proceeds from the five cent charge
on plastic shopping bags support WWF-Canada programs to engage
Canadians to make changes to positively affect the environment.
- Sustainable Seafood Commitment: In 2009, Loblaw made a commitment to
source all seafood sold in its retail locations from sustainable
sources by the end of 2013. The commitment covers all canned, frozen,
fresh, wild and farmed seafood products in all categories. Loblaw is
working with partners including WWF-Canada, the Marine Stewardship
Council (MSC) as well as marine scientists, conservation experts and
vendors to achieve this goal.
- Carbon footprint reduction: Loblaw has launched several programs
aimed at reducing lighting and energy use in-store. In 2009, the
Company installed a wind turbine at the Atlantic Superstore in
Porters Lake, Nova Scotia to help reduce carbon emissions by adding
green energy production capability. Loblaw also uses alternative
refrigeration system design to reduce energy consumption and
refrigerant use in-store. In 2010 Loblaw will install solar panels at
four store rooftops in Ontario, with the potential to rollout the
program to more than 100 stores across the province. Loblaw has also
achieved efficiencies in the management of its transport fleet,
having achieved a four per cent improvement in fuel efficiency per
kilometre driven in the past two years.
- On site waste reduction and diversion: Loblaw and its franchises are
working to divert 70 percent of waste generated from stores and
distribution centres from landfill. As part of this initiative,
stores in various regions across the country, are separating organic
waste and diverting this to compost and biogas facilities. Grease
from in-store cooking is also being collected and converted to
biodiesel for use by our transport fleet.
- Driving product innovation: For 20 years, Loblaw has been developing
and expanding the PC(R) G.R.E.E.N line of products to offer
high-performance, eco-friendly alternatives to Canadians at great
prices. All Loblaw PC(R) G.R.E.E.N products are approved by Colin
Isaacs - an independent and leading Canadian environmental scientist.
Today, PC(R) G.R.E.E.N offers more than 40 products ranging from lawn
and garden to household cleaning, to help customers take steps
towards reducing their environmental footprints.
"Through our partnership with Loblaw on environmental initiatives, we have witnessed the depth of the Company's commitment to conservation and are particularly impressed with its world-leading commitment to source 100 per cent sustainable seafood," said Gerald Butts, president and CEO, WWF-Canada. "We congratulate Loblaw on being named one of Canada's Greenest Employers and look forward to continuing our work with the Company."
Launched in 2007, the Canada's Greenest Employers competition is organized by the editors of the Canada's Top 100 Employers project. This special designation recognizes the employers that lead the nation in creating a corporate culture of environmental awareness, have developed exceptional earth-friendly initiatives and attracting people to their organizations because of their environmental leadership.
Employers are evaluated based on the following criteria: (1) the unique environmental initiatives and programs they have developed; (2) the extent to which they have been successful in reducing the organization's own environmental footprint; (3) the degree to which their employees are involved in these programs and whether they contribute any unique skills; and (4) the extent to which these initiatives have become linked to the employer's public identity and whether they attract new people to the organization.
SOURCE: CNW Newswire
INDUSTRY NEWS: Spring is Green at Walmart Canada
Walmart Canada ahas launched a sustainability merchandising and marketing campaign demonstrating it's serious about moving green from a costly dream to a routine for customers. One of Walmart's long-term sustainability goals globally is to sell products that sustain people and the environment.
___________________________
Spring is Green at Walmart Canada
Company's products, advertising and stores show it can be easy and affordable being "Green" this spring
MISSISSAUGA, ON, April 22 /CNW/ - April is Earth Month at Walmart Canada and the company has launched a sustainability merchandising and marketing campaign demonstrating it's serious about moving green from a costly dream to a routine for customers. One of Walmart's long-term sustainability goals globally is to sell products that sustain people and the environment.
The Earth Month merchandising and marketing campaign highlights environmentally preferable products available at affordable prices and taps into the growing influence of environmental concerns on customer shopping behaviour. In research conducted recently by Walmart Canada, 80 per cent of customers said they are thinking of the environment when making a purchase and 69 per cent of customers cited expense as a barrier to going green.
"Walmart is uniquely positioned to put sustainable products in the hands of Canadians by making them accessible and affordable," said Duncan Mac Naughton, chief merchandising and marketing officer at Walmart Canada. "Earth Month kicks off our long-term focus on bringing the more than one million customers we serve a day unbeatable prices on green products."
To support its product initiatives, Walmart Canada's national advertising campaign includes television, online and flyer advertising. The national 30-second television spot shows how easy and affordable going green can be. This is the company's first marketing campaign focusing specifically on its sustainable product initiatives.
"We're letting customers know that they don't have to choose between a product they can afford and one that's better for the environment," said Jeff Lobb, senior vice president of marketing for Walmart Canada. "We believe that bringing customers affordable green products will help them incorporate sustainable practices into their lives now, and in the future."
Featured prominently in-store are environmentally preferable products at every day low prices and on Rollback, from organic cotton t-shirts and eco rugs to environmentally preferable cleaning products. A few examples of products featured with Rollback prices for Earth Month include:
Store-wide, Walmart Canada carries over 1000 environmentally preferable products, across categories like cleaning products and food.
Since 2005, Walmart has been actively involved in environmental sustainability and working towards three long-term goals globally and in Canada: to produce zero waste; to be powered 100 per cent by renewable energy; and to sell products that sustain people and the environment.
SOURCE: CNW Newswire Press Release
___________________________
Spring is Green at Walmart Canada
Company's products, advertising and stores show it can be easy and affordable being "Green" this spring
MISSISSAUGA, ON, April 22 /CNW/ - April is Earth Month at Walmart Canada and the company has launched a sustainability merchandising and marketing campaign demonstrating it's serious about moving green from a costly dream to a routine for customers. One of Walmart's long-term sustainability goals globally is to sell products that sustain people and the environment.
The Earth Month merchandising and marketing campaign highlights environmentally preferable products available at affordable prices and taps into the growing influence of environmental concerns on customer shopping behaviour. In research conducted recently by Walmart Canada, 80 per cent of customers said they are thinking of the environment when making a purchase and 69 per cent of customers cited expense as a barrier to going green.
"Walmart is uniquely positioned to put sustainable products in the hands of Canadians by making them accessible and affordable," said Duncan Mac Naughton, chief merchandising and marketing officer at Walmart Canada. "Earth Month kicks off our long-term focus on bringing the more than one million customers we serve a day unbeatable prices on green products."
To support its product initiatives, Walmart Canada's national advertising campaign includes television, online and flyer advertising. The national 30-second television spot shows how easy and affordable going green can be. This is the company's first marketing campaign focusing specifically on its sustainable product initiatives.
"We're letting customers know that they don't have to choose between a product they can afford and one that's better for the environment," said Jeff Lobb, senior vice president of marketing for Walmart Canada. "We believe that bringing customers affordable green products will help them incorporate sustainable practices into their lives now, and in the future."
Featured prominently in-store are environmentally preferable products at every day low prices and on Rollback, from organic cotton t-shirts and eco rugs to environmentally preferable cleaning products. A few examples of products featured with Rollback prices for Earth Month include:
Store-wide, Walmart Canada carries over 1000 environmentally preferable products, across categories like cleaning products and food.
Since 2005, Walmart has been actively involved in environmental sustainability and working towards three long-term goals globally and in Canada: to produce zero waste; to be powered 100 per cent by renewable energy; and to sell products that sustain people and the environment.
SOURCE: CNW Newswire Press Release
Wednesday, April 21, 2010
INDUSTRY NEWS: Walmart Canada launches sustainable jewellery program
Walmart Canada has launched a sustainable jewellery line, called the TerraCycle collection, made of recycled, third-party certified sterling silver. This program is another inititive that supports the Company's long-term sustainability goal.
_______________________
Walmart Canada launches sustainable jewellery program
TerraCycle collection made from 100 per cent recycled sterling silver
MISSISSAUGA, ON, April 20 /CNW/ - Walmart Canada today announced the launch of its first line of sustainable jewellery. The TerraCycle collection is made using recycled, third-party certified sterling silver. The introduction of the program supports the company's long-term sustainability goal to sell products that sustain people and the environment.
"We know our customers are looking for more sustainable choices and green products at unbeatable prices," said John Lawrence, director of corporate social responsibility for Walmart Canada. "The TerraCycle collection brings customers beautiful and affordable jewellery that is also helping sustain resources and the environment."
TerraCycle is an eco-friendly manufacturer of products made from waste materials.
Using non-virgin silver to make the jewellery is more environmentally preferable because it does not need to be extracted or heavily processed. Precious metals like sterling silver can be recycled repeatedly with no degradation in quality. The TerraCycle collection is made using recycled, third-party certified silver by Hoover & Strong Harmony Metal and Gems, an earth-minded refiner and manufacturer of environmentally-responsible products. Over half of Hoover & Strong's metal supply comes entirely from scrap metal purchased from jewelers. The remainder of its supply comes from refineries that also recycle scrap metal.
TerraCycle jewellery is available at 200 Walmart Canada store locations nationally. The collection includes fashion pendants and earrings, in popular styles, and ranges in price from $16 to $29. The jewellery is rhodium-plated to preserve the finish of the polished silver and to protect it from natural tarnishing.
Store-wide, Walmart Canada carries over 1000 environmentally preferable products, across categories like cleaning products and food. It continues to work with existing and new suppliers to expand its selection of green products at unbeatable prices.
Walmart has three long-term sustainability goals globally: to produce zero waste; to be powered 100 per cent by renewable energy; and to sell products that sustain people and the environment.
SOURCE: Walmart Canada, CNW Newswire Press Release
_______________________
Walmart Canada launches sustainable jewellery program
TerraCycle collection made from 100 per cent recycled sterling silver
MISSISSAUGA, ON, April 20 /CNW/ - Walmart Canada today announced the launch of its first line of sustainable jewellery. The TerraCycle collection is made using recycled, third-party certified sterling silver. The introduction of the program supports the company's long-term sustainability goal to sell products that sustain people and the environment.
"We know our customers are looking for more sustainable choices and green products at unbeatable prices," said John Lawrence, director of corporate social responsibility for Walmart Canada. "The TerraCycle collection brings customers beautiful and affordable jewellery that is also helping sustain resources and the environment."
TerraCycle is an eco-friendly manufacturer of products made from waste materials.
Using non-virgin silver to make the jewellery is more environmentally preferable because it does not need to be extracted or heavily processed. Precious metals like sterling silver can be recycled repeatedly with no degradation in quality. The TerraCycle collection is made using recycled, third-party certified silver by Hoover & Strong Harmony Metal and Gems, an earth-minded refiner and manufacturer of environmentally-responsible products. Over half of Hoover & Strong's metal supply comes entirely from scrap metal purchased from jewelers. The remainder of its supply comes from refineries that also recycle scrap metal.
TerraCycle jewellery is available at 200 Walmart Canada store locations nationally. The collection includes fashion pendants and earrings, in popular styles, and ranges in price from $16 to $29. The jewellery is rhodium-plated to preserve the finish of the polished silver and to protect it from natural tarnishing.
Store-wide, Walmart Canada carries over 1000 environmentally preferable products, across categories like cleaning products and food. It continues to work with existing and new suppliers to expand its selection of green products at unbeatable prices.
Walmart has three long-term sustainability goals globally: to produce zero waste; to be powered 100 per cent by renewable energy; and to sell products that sustain people and the environment.
SOURCE: Walmart Canada, CNW Newswire Press Release
INDUSTRY/MARKETING NEWS: Which Canadian City is the Most Eco Friendly?
The Green Grouch, an Eco-Comedian, is challenging Canada's fifty largest cities in a contest starting on Earth Day to determine which city is the most environmentally friendly. This is a great way to shed light on "green" habits and get consumers thinking "green." Can you use this as a model for a smaller-scale initiative in your own store? Will you participate in this eco-challenge?
_____________________
Which Canadian City is the Most Eco Friendly?
"The Green Grouch" Challenges Canadians in Eco Contest
CALGARY, April 20 /CNW/ - Starting on Earth Day, The Green Grouch is challenging Canada's fifty largest cities in a contest to determine which is the most environmentally friendly. The contest consists of a simple ten-point weekly checklist that participants fill in to indicate what environmentally friendly activities they've participated in. Each item earns points for your city.
To help encourage the highest possible rate of participation, referring others to the contest earns the most points. "The greatest impact you can have is getting other people involved" says The Green Grouch. The site's software compiles results and Canadians can track where their city ranks.
The Green Grouch is an "Eco Comedian" who encourages people to do the simple things to help the environment. "People don't like being nagged, so we cleverly hide our nagging within our comical YouTube videos," says The GG. "I'm hoping people will embrace me because the world really needs someone like me to help us all focus on making changes."
After the Canadian contest, there are plans to host a similar one between the largest cities in several different countries, beginning with The United States. Other contests are also planned, for example, between Colleges & Universities, corporations, etc. Eventually, a contest between countries will take place.
While the Canadian contest officially starts on Earth day, there is no set end date. Organizers want to give it a good chance to spread across Canada before deciding on a closing date. They also want to run it long enough to change Canadians' habits. But, they want to stress that the weekly checklist takes, literally, less than one minute to complete. "We know people are busy, so our site isn't designed like a social networking site that aims to suck up your life. We want to give you a gentle kick in the right direction and get out of your way," says The GG. "And, if I can make you laugh along the way with my YouTube videos, that's a bonus!"
SOURCE: CNW Newswire Press Release
_____________________
Which Canadian City is the Most Eco Friendly?
"The Green Grouch" Challenges Canadians in Eco Contest
CALGARY, April 20 /CNW/ - Starting on Earth Day, The Green Grouch is challenging Canada's fifty largest cities in a contest to determine which is the most environmentally friendly. The contest consists of a simple ten-point weekly checklist that participants fill in to indicate what environmentally friendly activities they've participated in. Each item earns points for your city.
To help encourage the highest possible rate of participation, referring others to the contest earns the most points. "The greatest impact you can have is getting other people involved" says The Green Grouch. The site's software compiles results and Canadians can track where their city ranks.
The Green Grouch is an "Eco Comedian" who encourages people to do the simple things to help the environment. "People don't like being nagged, so we cleverly hide our nagging within our comical YouTube videos," says The GG. "I'm hoping people will embrace me because the world really needs someone like me to help us all focus on making changes."
After the Canadian contest, there are plans to host a similar one between the largest cities in several different countries, beginning with The United States. Other contests are also planned, for example, between Colleges & Universities, corporations, etc. Eventually, a contest between countries will take place.
While the Canadian contest officially starts on Earth day, there is no set end date. Organizers want to give it a good chance to spread across Canada before deciding on a closing date. They also want to run it long enough to change Canadians' habits. But, they want to stress that the weekly checklist takes, literally, less than one minute to complete. "We know people are busy, so our site isn't designed like a social networking site that aims to suck up your life. We want to give you a gentle kick in the right direction and get out of your way," says The GG. "And, if I can make you laugh along the way with my YouTube videos, that's a bonus!"
SOURCE: CNW Newswire Press Release
BUSINESS NEWS: METRO's fully diluted net earnings per share increased 8.8% in the second quarter of 2010
Metro Inc. has reported net earnings for the second quarter of 2010. The Company realized $80.3 million in the second quarter ended March 13, 2010, an increase of 5.2% over the same quarter last year, and fully diluted net earnings per share of $0.74 versus $0.68 last year, an increase of 8.8%.
_______________________
METRO's fully diluted net earnings per share increased 8.8% in the second quarter of 2010
-------------------------------------------------------------------------
2010 SECOND QUARTER HIGHLIGHTS
- Net earnings of $80.3 million, up 5.2%
- Fully diluted net earnings per share of $0.74, up 8.8%
- Sales of $2,576.7 million, up 1.1%
- Declared dividend of $0.17 per share, up 23.6%
-------------------------------------------------------------------------
MONTREAL, April 21 /CNW Telbec/ - METRO INC. (TSX : MRU.A) realized net earnings of $80.3 million in the second quarter ended March 13, 2010, an increase of 5.2% over the same quarter last year, and fully diluted net earnings per share of $0.74 versus $0.68 last year, an increase of 8.8%.
"We are pleased with our second quarter results. Despite persistent deflation in certain product categories, our results improved on last year's excellent second quarter. Consumers remain cautious and our teams constantly strive to provide them excellent value across all of our banners. On April 12, 2010, we launched the Metro & Me loyalty card in the Québec City region in phase 1 of a new program that will allow our Québec customers to accumulate points that can be applied towards purchases at Metro supermarkets. We are confident(2) that we will continue our growth in 2010," stated Eric R. La Flèche, President and Chief Executive Officer.
SALES
2010 second quarter sales reached $2,576.7 million compared to $2,549.7 million last year, an increase of 1.1%. Sales for the first 24 weeks of 2010 reached $5,221.7 million, up 1.4% compared to sales of $5,150.2 million for the corresponding period of fiscal 2009.
These increases were achieved despite a slight drop in the value of our basket, whereas last year, high food price inflation and the temporary closing of several stores of a competitor due to a labour conflict had a positive impact on our first and second quarter sales. Same-store sales declined 0.7% in the second quarter due to deflation in certain product categories.
EARNINGS BEFORE FINANCIAL COSTS, TAXES, DEPRECIATION AND AMORTIZATION (EBITDA)(1)
Second quarter EBITDA(1) in 2010 was $171.6 million, up 5.5% from $162.6 million for the same quarter last year. Second quarter EBITDA(1) represented 6.7% of sales versus 6.4% last year.
EBITDA(1) for the first 24 weeks of 2010 was $353.7 million or 6.8% of sales compared to $332.8 million or 6.5% of sales for the same period last year. Excluding banner conversion costs of $0.9 million and $5.8 million before taxes recorded for the first 24 weeks of 2010 and 2009 respectively, adjusted EBITDA(1) represented 6.8% of sales in 2010 and 6.6% in 2009.
These increases are due mainly to an increase in our gross margins driven by our improved store operations.
Our share of earnings from our investment in Alimentation Couche-Tard for the second quarter and the first 24 weeks of 2010 were $6.5 million and $17.3 million respectively, compared to $9.4 million and $20.5 million for the corresponding periods of fiscal 2009. Excluding non-recurring items as well as our share of earnings from our investment in Alimentation Couche-Tard, our adjusted EBITDA(1) for the second quarter and the first 24 weeks of 2010 were $165.1 million and $337.3 million respectively or 6.4% and 6.5% of sales versus $154.5 million or 6.1% of sales for the second quarter of 2009 and $318.1 million or 6.2% of sales for the 24-week period.
EBITDA(1) Adjustments
(Millions of 12 weeks / Fiscal Year
dollars, 2010 2009
unless ------------------------------------------------------------
otherwise EBITDA Sales EBITDA/ EBITDA Sales EBITDA/
indicated) Sales (%) Sales (%)
-------------------------------------------------------------------------
EBITDA 171.6 2,576.7 6.7 162.6 2,549.7 6.4
Banner
conversion
costs - - 1.3 -
-------------------------------------------------------------------------
Adjusted
EBITDA 171.6 2,576.7 6.7 163.9 2,549.7 6.4
Share of
earnings
from our
investment in
Alimentation
Couche-Tard (6.5) - (9.4) -
-------------------------------------------------------------------------
Adjusted EBITDA
excluding share
of earnings 165.1 2,576.7 6.4 154.5 2,549.7 6.1
-------------------------------------------------------------------------
-------------------------------------------------------------------------
(Millions of 24 weeks / Fiscal Year
dollars, 2010 2009
unless ------------------------------------------------------------
otherwise EBITDA Sales EBITDA/ EBITDA Sales EBITDA/
indicated) Sales (%) Sales (%)
-------------------------------------------------------------------------
EBITDA 353.7 5,221.7 6.8 332.8 5,150.2 6.5
Banner
conversion
costs 0.9 - 5.8 -
-------------------------------------------------------------------------
Adjusted
EBITDA 354.6 5,221.7 6.8 338.6 5,150.2 6.6
Share of
earnings
from our
investment in
Alimentation
Couche-Tard (17.3) - (20.5) -
-------------------------------------------------------------------------
Adjusted EBITDA
excluding share
of earnings 337.3 5,221.7 6.5 318.1 5,150.2 6.2
-------------------------------------------------------------------------
-------------------------------------------------------------------------
DEPRECIATION AND AMORTIZATION AND FINANCIAL COSTS
Total amortization expenses for the second quarter and the first 24 weeks of fiscal 2010 amounted to $47.0 million and $93.7 million respectively, compared with $42.6 million and $84.2 million for the same periods last year. Second quarter financial costs totalled $10.3 million in 2010 versus $10.8 million last year, while 2010 24-week financial costs totalled $21.3 million versus $23.3 million last year. Interest rates for the first 24 weeks of 2010 averaged 3.9% versus 4.8% for the corresponding period last year.
INCOME TAXES
The 2010 second quarter and 24-week period income tax expenses of $34.0 million and $60.3 million represented the effective tax rates of 29.7% and 25.3% respectively. In 2009, the second quarter and 24-week period income tax expenses of $32.9 million and $67.9 million represented an effective tax rate of 30.1% for both periods. In the first quarter of 2010, we benefited from a $10.0 million reduction in our net future income tax liabilities and income tax expenses. Excluding this reduction, our effective tax rate for the first 24 weeks of 2010 was 29.5%.
NET EARNINGS
The 2010 second quarter net earnings were $80.3 million compared to $76.3 million for the corresponding quarter last year, an increase of 5.2%. Fully diluted net earnings per share rose 8.8% to $0.74 from $0.68 last year.
Net earnings for the first 24 weeks of 2010 reached $178.4 million versus $157.4 million last year, up 13.3%. Fully diluted net earnings per share were $1.65 compared to $1.41, an increase of 17.0%. Excluding the first quarter income tax expense decrease of $10.0 million in 2010 and pre-tax banner conversion costs of $0.9 million in 2010 and $5.8 million in 2009, adjusted net earnings(1) for the 2010 24-week period were $169.0 million, up 4.8% from the $161.3 million for the corresponding period of 2009. Adjusted fully diluted net earnings per share(1) were $1.56, up 8.3% from $1.44 last year.
Net Earnings Adjustments
12 weeks / Fiscal Year
2010 2009 Change (%)
------------------------------------------------------------
(Millions Fully (Millions Fully Net Fully
of diluted of diluted earnings diluted
dollars) EPS dollars) EPS EPS
(Dollars) (Dollars)
-------------------------------------------------------------------------
Net earnings 80.3 0.74 76.3 0.68 5.2 8.8
Banner
conversion
costs after
taxes - - 0.9 -
Decrease in
tax expense - - - -
-------------------------------------------------------------------------
Adjusted net
earnings(1) 80.3 0.74 77.2 0.68 4.0 8.8
-------------------------------------------------------------------------
-------------------------------------------------------------------------
24 weeks / Fiscal Year
2010 2009 Change (%)
------------------------------------------------------------
(Millions Fully (Millions Fully Net Fully
of diluted of diluted earnings diluted
dollars) EPS dollars) EPS EPS
(Dollars) (Dollars)
-------------------------------------------------------------------------
Net earnings 178.4 1.65 157.4 1.41 13.3 17.0
Banner
conversion
costs after
taxes 0.6 - 3.9 0.03
Decrease in
tax expense (10.0) (0.09) - -
-------------------------------------------------------------------------
Adjusted net
earnings(1) 169.0 1.56 161.3 1.44 4.8 8.3
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Quarterly Highlights
(Millions of dollars, unless 2010 2009 2008 Change
otherwise indicated) (%)
-------------------------------------------------------------------------
Sales
Q1 2,645.0 2,600.5 - 1.7
Q2 2,576.7 2,549.7 - 1.1
Q3 - 3,513.3 3,370.0 4.3
Q4 - 2,532.5 2,476.0 2.3
-------------------------------------------------------------------------
Net earnings
Q1 98.1 81.1 - 21.0
Q2 80.3 76.3 - 5.2
Q3 - 112.6 91.9 22.5
Q4 - 84.4 72.5 16.4
-------------------------------------------------------------------------
Adjusted net earnings(1)
Q1 88.7 84.1 - 5.5
Q2 80.3 77.2 - 4.0
Q3 - 111.8 91.9 21.7
Q4 - 85.9 72.5 18.5
-------------------------------------------------------------------------
Fully diluted net earnings
per share (Dollars)
Q1 0.91 0.73 - 24.7
Q2 0.74 0.68 - 8.8
Q3 - 1.01 0.81 24.7
Q4 - 0.77 0.65 18.5
-------------------------------------------------------------------------
Adjusted fully diluted net
earnings per share(1) (Dollars)
Q1 0.82 0.76 - 7.9
Q2 0.74 0.68 - 8.8
Q3 - 1.01 0.81 24.7
Q4 - 0.78 0.65 20.0
-------------------------------------------------------------------------
First and second quarter sales for 2010 were up 1.7% and 1.1% respectively over those for 2009. These increases were achieved despite a slight drop in the value of our basket, whereas last year high food price inflation and the temporary closing of several stores of a competitor due to a labour conflict, had a positive impact on our first and second quarter sales.
Third and fourth quarter sales for 2009 were up 4.3% and 2.3% respectively over those for 2008. Effective merchandising programs allowed us to post increases. Excluding decreased tobacco sales, 2009 third and fourth quarter sales were up 5.2% and 3.2% respectively over 2008.
First quarter net earnings and fully diluted net earnings per share for 2010 were up 21.0% and 24.7% respectively over those for 2009. Excluding banner conversion costs of $0.9 million and $4.5 million before taxes recorded respectively in the first quarters of 2010 and 2009, as well as the income tax expense decrease of $10.0 million in the first quarter of 2010 further to future decreases in the Ontario tax rate, adjusted net earnings(1) were up 5.5% and adjusted fully diluted net earnings per share(1) were up 7.9%.
Second quarter net earnings and fully diluted net earnings per share for 2010 were up 5.2% and 8.8% respectively from those in 2009.
Our sales growth and ongoing efforts to improve store operations in Ontario allowed us to increase our gross margins in the third and fourth quarters of 2009.
Third quarter net earnings and fully diluted net earnings per share in 2009 were up 22.5% and 24.7% respectively from 2008. Excluding non-recurring items recorded in the third quarter of 2009, namely $2.9 million before taxes to convert our Ontario supermarkets to the Metro banner as well as an income tax expense decrease of $2.7 million, adjusted net earnings(1) and adjusted fully diluted net earnings per share(1) for the third quarter of 2009 were up 21.7% and 24.7%, compared to adjusted net earnings(1) and adjusted fully diluted net earnings per share(1) for the third quarter of 2008.
Fourth quarter net earnings and fully diluted net earnings per share in 2009 were up 16.4% and 18.5% over those for 2008. Excluding 2009 fourth quarter banner conversion costs of $2.3 million before taxes, adjusted net earnings(1) and adjusted fully diluted net earnings per share(1) for the fourth quarter of 2009 were up 18.5% and 20.0% over adjusted net earnings(1) and adjusted fully diluted net earnings per share(1) for the fourth quarter of 2008.
SOURCE: CNW Newswire Press Release
_______________________
METRO's fully diluted net earnings per share increased 8.8% in the second quarter of 2010
-------------------------------------------------------------------------
2010 SECOND QUARTER HIGHLIGHTS
- Net earnings of $80.3 million, up 5.2%
- Fully diluted net earnings per share of $0.74, up 8.8%
- Sales of $2,576.7 million, up 1.1%
- Declared dividend of $0.17 per share, up 23.6%
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MONTREAL, April 21 /CNW Telbec/ - METRO INC. (TSX : MRU.A) realized net earnings of $80.3 million in the second quarter ended March 13, 2010, an increase of 5.2% over the same quarter last year, and fully diluted net earnings per share of $0.74 versus $0.68 last year, an increase of 8.8%.
"We are pleased with our second quarter results. Despite persistent deflation in certain product categories, our results improved on last year's excellent second quarter. Consumers remain cautious and our teams constantly strive to provide them excellent value across all of our banners. On April 12, 2010, we launched the Metro & Me loyalty card in the Québec City region in phase 1 of a new program that will allow our Québec customers to accumulate points that can be applied towards purchases at Metro supermarkets. We are confident(2) that we will continue our growth in 2010," stated Eric R. La Flèche, President and Chief Executive Officer.
SALES
2010 second quarter sales reached $2,576.7 million compared to $2,549.7 million last year, an increase of 1.1%. Sales for the first 24 weeks of 2010 reached $5,221.7 million, up 1.4% compared to sales of $5,150.2 million for the corresponding period of fiscal 2009.
These increases were achieved despite a slight drop in the value of our basket, whereas last year, high food price inflation and the temporary closing of several stores of a competitor due to a labour conflict had a positive impact on our first and second quarter sales. Same-store sales declined 0.7% in the second quarter due to deflation in certain product categories.
EARNINGS BEFORE FINANCIAL COSTS, TAXES, DEPRECIATION AND AMORTIZATION (EBITDA)(1)
Second quarter EBITDA(1) in 2010 was $171.6 million, up 5.5% from $162.6 million for the same quarter last year. Second quarter EBITDA(1) represented 6.7% of sales versus 6.4% last year.
EBITDA(1) for the first 24 weeks of 2010 was $353.7 million or 6.8% of sales compared to $332.8 million or 6.5% of sales for the same period last year. Excluding banner conversion costs of $0.9 million and $5.8 million before taxes recorded for the first 24 weeks of 2010 and 2009 respectively, adjusted EBITDA(1) represented 6.8% of sales in 2010 and 6.6% in 2009.
These increases are due mainly to an increase in our gross margins driven by our improved store operations.
Our share of earnings from our investment in Alimentation Couche-Tard for the second quarter and the first 24 weeks of 2010 were $6.5 million and $17.3 million respectively, compared to $9.4 million and $20.5 million for the corresponding periods of fiscal 2009. Excluding non-recurring items as well as our share of earnings from our investment in Alimentation Couche-Tard, our adjusted EBITDA(1) for the second quarter and the first 24 weeks of 2010 were $165.1 million and $337.3 million respectively or 6.4% and 6.5% of sales versus $154.5 million or 6.1% of sales for the second quarter of 2009 and $318.1 million or 6.2% of sales for the 24-week period.
EBITDA(1) Adjustments
(Millions of 12 weeks / Fiscal Year
dollars, 2010 2009
unless ------------------------------------------------------------
otherwise EBITDA Sales EBITDA/ EBITDA Sales EBITDA/
indicated) Sales (%) Sales (%)
-------------------------------------------------------------------------
EBITDA 171.6 2,576.7 6.7 162.6 2,549.7 6.4
Banner
conversion
costs - - 1.3 -
-------------------------------------------------------------------------
Adjusted
EBITDA 171.6 2,576.7 6.7 163.9 2,549.7 6.4
Share of
earnings
from our
investment in
Alimentation
Couche-Tard (6.5) - (9.4) -
-------------------------------------------------------------------------
Adjusted EBITDA
excluding share
of earnings 165.1 2,576.7 6.4 154.5 2,549.7 6.1
-------------------------------------------------------------------------
-------------------------------------------------------------------------
(Millions of 24 weeks / Fiscal Year
dollars, 2010 2009
unless ------------------------------------------------------------
otherwise EBITDA Sales EBITDA/ EBITDA Sales EBITDA/
indicated) Sales (%) Sales (%)
-------------------------------------------------------------------------
EBITDA 353.7 5,221.7 6.8 332.8 5,150.2 6.5
Banner
conversion
costs 0.9 - 5.8 -
-------------------------------------------------------------------------
Adjusted
EBITDA 354.6 5,221.7 6.8 338.6 5,150.2 6.6
Share of
earnings
from our
investment in
Alimentation
Couche-Tard (17.3) - (20.5) -
-------------------------------------------------------------------------
Adjusted EBITDA
excluding share
of earnings 337.3 5,221.7 6.5 318.1 5,150.2 6.2
-------------------------------------------------------------------------
-------------------------------------------------------------------------
DEPRECIATION AND AMORTIZATION AND FINANCIAL COSTS
Total amortization expenses for the second quarter and the first 24 weeks of fiscal 2010 amounted to $47.0 million and $93.7 million respectively, compared with $42.6 million and $84.2 million for the same periods last year. Second quarter financial costs totalled $10.3 million in 2010 versus $10.8 million last year, while 2010 24-week financial costs totalled $21.3 million versus $23.3 million last year. Interest rates for the first 24 weeks of 2010 averaged 3.9% versus 4.8% for the corresponding period last year.
INCOME TAXES
The 2010 second quarter and 24-week period income tax expenses of $34.0 million and $60.3 million represented the effective tax rates of 29.7% and 25.3% respectively. In 2009, the second quarter and 24-week period income tax expenses of $32.9 million and $67.9 million represented an effective tax rate of 30.1% for both periods. In the first quarter of 2010, we benefited from a $10.0 million reduction in our net future income tax liabilities and income tax expenses. Excluding this reduction, our effective tax rate for the first 24 weeks of 2010 was 29.5%.
NET EARNINGS
The 2010 second quarter net earnings were $80.3 million compared to $76.3 million for the corresponding quarter last year, an increase of 5.2%. Fully diluted net earnings per share rose 8.8% to $0.74 from $0.68 last year.
Net earnings for the first 24 weeks of 2010 reached $178.4 million versus $157.4 million last year, up 13.3%. Fully diluted net earnings per share were $1.65 compared to $1.41, an increase of 17.0%. Excluding the first quarter income tax expense decrease of $10.0 million in 2010 and pre-tax banner conversion costs of $0.9 million in 2010 and $5.8 million in 2009, adjusted net earnings(1) for the 2010 24-week period were $169.0 million, up 4.8% from the $161.3 million for the corresponding period of 2009. Adjusted fully diluted net earnings per share(1) were $1.56, up 8.3% from $1.44 last year.
Net Earnings Adjustments
12 weeks / Fiscal Year
2010 2009 Change (%)
------------------------------------------------------------
(Millions Fully (Millions Fully Net Fully
of diluted of diluted earnings diluted
dollars) EPS dollars) EPS EPS
(Dollars) (Dollars)
-------------------------------------------------------------------------
Net earnings 80.3 0.74 76.3 0.68 5.2 8.8
Banner
conversion
costs after
taxes - - 0.9 -
Decrease in
tax expense - - - -
-------------------------------------------------------------------------
Adjusted net
earnings(1) 80.3 0.74 77.2 0.68 4.0 8.8
-------------------------------------------------------------------------
-------------------------------------------------------------------------
24 weeks / Fiscal Year
2010 2009 Change (%)
------------------------------------------------------------
(Millions Fully (Millions Fully Net Fully
of diluted of diluted earnings diluted
dollars) EPS dollars) EPS EPS
(Dollars) (Dollars)
-------------------------------------------------------------------------
Net earnings 178.4 1.65 157.4 1.41 13.3 17.0
Banner
conversion
costs after
taxes 0.6 - 3.9 0.03
Decrease in
tax expense (10.0) (0.09) - -
-------------------------------------------------------------------------
Adjusted net
earnings(1) 169.0 1.56 161.3 1.44 4.8 8.3
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Quarterly Highlights
(Millions of dollars, unless 2010 2009 2008 Change
otherwise indicated) (%)
-------------------------------------------------------------------------
Sales
Q1 2,645.0 2,600.5 - 1.7
Q2 2,576.7 2,549.7 - 1.1
Q3 - 3,513.3 3,370.0 4.3
Q4 - 2,532.5 2,476.0 2.3
-------------------------------------------------------------------------
Net earnings
Q1 98.1 81.1 - 21.0
Q2 80.3 76.3 - 5.2
Q3 - 112.6 91.9 22.5
Q4 - 84.4 72.5 16.4
-------------------------------------------------------------------------
Adjusted net earnings(1)
Q1 88.7 84.1 - 5.5
Q2 80.3 77.2 - 4.0
Q3 - 111.8 91.9 21.7
Q4 - 85.9 72.5 18.5
-------------------------------------------------------------------------
Fully diluted net earnings
per share (Dollars)
Q1 0.91 0.73 - 24.7
Q2 0.74 0.68 - 8.8
Q3 - 1.01 0.81 24.7
Q4 - 0.77 0.65 18.5
-------------------------------------------------------------------------
Adjusted fully diluted net
earnings per share(1) (Dollars)
Q1 0.82 0.76 - 7.9
Q2 0.74 0.68 - 8.8
Q3 - 1.01 0.81 24.7
Q4 - 0.78 0.65 20.0
-------------------------------------------------------------------------
First and second quarter sales for 2010 were up 1.7% and 1.1% respectively over those for 2009. These increases were achieved despite a slight drop in the value of our basket, whereas last year high food price inflation and the temporary closing of several stores of a competitor due to a labour conflict, had a positive impact on our first and second quarter sales.
Third and fourth quarter sales for 2009 were up 4.3% and 2.3% respectively over those for 2008. Effective merchandising programs allowed us to post increases. Excluding decreased tobacco sales, 2009 third and fourth quarter sales were up 5.2% and 3.2% respectively over 2008.
First quarter net earnings and fully diluted net earnings per share for 2010 were up 21.0% and 24.7% respectively over those for 2009. Excluding banner conversion costs of $0.9 million and $4.5 million before taxes recorded respectively in the first quarters of 2010 and 2009, as well as the income tax expense decrease of $10.0 million in the first quarter of 2010 further to future decreases in the Ontario tax rate, adjusted net earnings(1) were up 5.5% and adjusted fully diluted net earnings per share(1) were up 7.9%.
Second quarter net earnings and fully diluted net earnings per share for 2010 were up 5.2% and 8.8% respectively from those in 2009.
Our sales growth and ongoing efforts to improve store operations in Ontario allowed us to increase our gross margins in the third and fourth quarters of 2009.
Third quarter net earnings and fully diluted net earnings per share in 2009 were up 22.5% and 24.7% respectively from 2008. Excluding non-recurring items recorded in the third quarter of 2009, namely $2.9 million before taxes to convert our Ontario supermarkets to the Metro banner as well as an income tax expense decrease of $2.7 million, adjusted net earnings(1) and adjusted fully diluted net earnings per share(1) for the third quarter of 2009 were up 21.7% and 24.7%, compared to adjusted net earnings(1) and adjusted fully diluted net earnings per share(1) for the third quarter of 2008.
Fourth quarter net earnings and fully diluted net earnings per share in 2009 were up 16.4% and 18.5% over those for 2008. Excluding 2009 fourth quarter banner conversion costs of $2.3 million before taxes, adjusted net earnings(1) and adjusted fully diluted net earnings per share(1) for the fourth quarter of 2009 were up 18.5% and 20.0% over adjusted net earnings(1) and adjusted fully diluted net earnings per share(1) for the fourth quarter of 2008.
SOURCE: CNW Newswire Press Release
INDUSTRY NEWS: Burcon announces appointment of a new director
Burcon announces appointment of a new director
VANCOUVER, April 20 /CNW/ - Burcon NutraScience Corporation (TSX - BU) ("Burcon" or the "Corporation") is pleased to announce the appointment of Mr. Alan Chan to its board of directors.
Alan Chan is an executive director at ITC Corporation Limited and ITC Properties Group Ltd., both of Hong Kong. At ITC Corporation Limited, Mr. Chan has focused on the sourcing, negotiations and valuation of venture capital deals in various sectors including technology companies in the U.S. and Korea, natural resources and commodities opportunities in China, hospitality companies in Greater China and Southeast Asia, public and private corporate finance transactions, and business development as well as strategy for the group's hospitality business.
At ITC Properties Group, Mr. Chan has been involved with due diligence, negotiations, investment, sourcing as well as master planning and design of commercial, hospitality and residential projects. In addition, he is the lead executive director developing new policies for green and sustainable development practices throughout the group. During Mr. Chan's tenure with the ITC group, he has developed an intimate understanding of the Greater Chinese and Southeast Asian markets.
Prior to joining ITC, Mr. Chan worked in the Investment Banking Division of the Goldman Sachs Group with a focus on capital raising, mergers & acquisitions and strategic advisory for financial institutions, technology and consumer retail companies in Greater China and Southeast Asia with transactions ranging from US$500m to US$5.6bn.
Mr. Chan is a graduate of Duke University and is active in various organizations, including the Bisagni Environmental Enterprise (BEE Inc) and the YElites Group in Hong Kong.
Burcon also announces the resignation of Ms. Dorothy Law from the board of directors. Ms. Law has served as a director of the board since December 1998. She will continue to act as Senior Vice President, Legal and Corporate Secretary of the Corporation.
Dr. Allan Yap, Chairman and Chief Executive Officer of Burcon said, "I am very pleased to have Mr. Alan Chan join our board of directors. Burcon will benefit from both his experience and his forward-looking perspective."
SOURCE: CNW Newswire Press Release
VANCOUVER, April 20 /CNW/ - Burcon NutraScience Corporation (TSX - BU) ("Burcon" or the "Corporation") is pleased to announce the appointment of Mr. Alan Chan to its board of directors.
Alan Chan is an executive director at ITC Corporation Limited and ITC Properties Group Ltd., both of Hong Kong. At ITC Corporation Limited, Mr. Chan has focused on the sourcing, negotiations and valuation of venture capital deals in various sectors including technology companies in the U.S. and Korea, natural resources and commodities opportunities in China, hospitality companies in Greater China and Southeast Asia, public and private corporate finance transactions, and business development as well as strategy for the group's hospitality business.
At ITC Properties Group, Mr. Chan has been involved with due diligence, negotiations, investment, sourcing as well as master planning and design of commercial, hospitality and residential projects. In addition, he is the lead executive director developing new policies for green and sustainable development practices throughout the group. During Mr. Chan's tenure with the ITC group, he has developed an intimate understanding of the Greater Chinese and Southeast Asian markets.
Prior to joining ITC, Mr. Chan worked in the Investment Banking Division of the Goldman Sachs Group with a focus on capital raising, mergers & acquisitions and strategic advisory for financial institutions, technology and consumer retail companies in Greater China and Southeast Asia with transactions ranging from US$500m to US$5.6bn.
Mr. Chan is a graduate of Duke University and is active in various organizations, including the Bisagni Environmental Enterprise (BEE Inc) and the YElites Group in Hong Kong.
Burcon also announces the resignation of Ms. Dorothy Law from the board of directors. Ms. Law has served as a director of the board since December 1998. She will continue to act as Senior Vice President, Legal and Corporate Secretary of the Corporation.
Dr. Allan Yap, Chairman and Chief Executive Officer of Burcon said, "I am very pleased to have Mr. Alan Chan join our board of directors. Burcon will benefit from both his experience and his forward-looking perspective."
SOURCE: CNW Newswire Press Release
Tuesday, April 20, 2010
RESEARCH NEWS: Coenzyme Q10 May Protect Against Cataract Formation - In Vitro Results are Promising
Coenzyme Q10 May Protect Against Cataract Formation - In Vitro Results are Promising
An in vitro study involving human lens epithelial cells found that pre-incubation with coenzyme Q10 prior to exposure to white light significantly reduced phototoxic cell death and apoptosis. In other words, CoQ10 reduced light-induced LEC-damage, suggesting that supplementation with coenzyme Q10 may help prevent the death of human lens epithelial cells and the formation of cataracts.
_________________
Summary: In an in vitro study involving human lens epithelial cells (LEC), pre-incubation with coenzyme Q10 prior to exposure to white light (known to induce stress and apoptotic cell death) was found to significantly reduce phototoxic cell death and apoptosis, and reduce the light exposure-induced decrease in Bcl-2 expression and increase in BAX expression, as compared to cells that were not pre-incubated with coenzyme Q10. In other words, "CoQ10 significantly reduced light-induced LEC-damage and attenuated phototoxic effects on BAX and Bcl-2 expression." These results suggest that supplementation with coenzyme Q10 may help to prevent the death of human lens epithelial cells and the formation of cataracts. Considering that cataract is "one of the most prevalent eye disease and a major cause for legal blindness in the world," these results are promising and warrant additional research.
Reference: "Coenzyme Q10 prevents human lens epithelial cells from light-induced apoptotic cell death by reducing oxidative stress and stabilizing BAX / Bcl-2 ratio," Kernt M, Hirneiss C, et al, Acta Ophthalmol, 2010 April 1; [Epub ahead of print]. (Address: Department of Ophthalmology, Ludwig Maximilian University, Munich, Germany).
SOURCE: VitaSearch
An in vitro study involving human lens epithelial cells found that pre-incubation with coenzyme Q10 prior to exposure to white light significantly reduced phototoxic cell death and apoptosis. In other words, CoQ10 reduced light-induced LEC-damage, suggesting that supplementation with coenzyme Q10 may help prevent the death of human lens epithelial cells and the formation of cataracts.
_________________
Summary: In an in vitro study involving human lens epithelial cells (LEC), pre-incubation with coenzyme Q10 prior to exposure to white light (known to induce stress and apoptotic cell death) was found to significantly reduce phototoxic cell death and apoptosis, and reduce the light exposure-induced decrease in Bcl-2 expression and increase in BAX expression, as compared to cells that were not pre-incubated with coenzyme Q10. In other words, "CoQ10 significantly reduced light-induced LEC-damage and attenuated phototoxic effects on BAX and Bcl-2 expression." These results suggest that supplementation with coenzyme Q10 may help to prevent the death of human lens epithelial cells and the formation of cataracts. Considering that cataract is "one of the most prevalent eye disease and a major cause for legal blindness in the world," these results are promising and warrant additional research.
Reference: "Coenzyme Q10 prevents human lens epithelial cells from light-induced apoptotic cell death by reducing oxidative stress and stabilizing BAX / Bcl-2 ratio," Kernt M, Hirneiss C, et al, Acta Ophthalmol, 2010 April 1; [Epub ahead of print]. (Address: Department of Ophthalmology, Ludwig Maximilian University, Munich, Germany).
SOURCE: VitaSearch
INDUSTRY NEWS: Retail grocers applaud government for new credit/debit rules
Finance Minister, Jim Flaherty has finalized a Code of Conduct by which credit card companies must abide. Over the last two years, retailers across the country have been hammered by unrelenting fee increases, a lack of transparency, and agreements forced on retailers that abused the dominant position of credit card companies in Canada. In particular, many small and medium size retailers simply do not have the clout to deal with credit card giants and payment processors.
__________________
Retail grocers applaud government for new credit/debit rules
TORONTO, April 16 /CNW/ - The Canadian Federation of Independent Grocers (CFIG) welcomes the announcement today by Finance Minister, Jim Flaherty, finalizing a Code of Conduct by which credit card companies must abide.
"The Code of Conduct is a very positive step and we are very pleased to note that many of the concerns CFIG has raised on behalf of independent retail grocers, such as negative option billing practices, have been heard and responded to, by the government." said John F.T. Scott, President and CEO of CFIG. Together with the decision announced by the Competition Bureau in February to ensure Interac remains a not-for-profit entity, this ensures some balance to the electronic payment system in Canada.
CFIG also welcomed the decision by the Minister to bring in legislation that will give the government the ability to regulate the market if the voluntary Code of Conduct does not work. Scott added, "Together with a regulatory framework, the Code and the Interac decision provides retailers with choice and ensures that our members can continue to compete as important members of the food industry and the communities they serve across the country."
Over the last two years, retailers across the country have been hammered by unrelenting fee increases, a lack of transparency, and agreements forced on retailers that abused the dominant position of credit card companies in Canada. In particular, many small and medium size retailers simply do not have the clout to deal with credit card giants and payment processors.
Quotes:
"The Code of Conduct is a very positive step and we are very pleased to note that many of the concerns CFIG has raised on behalf of independent retail grocers, such as negative option billing practices, have been heard and responded to, by the government."
"Together with a regulatory framework, the Code and the Interac decision provides retailers with choice and ensures that our members can continue to compete as important members of the food industry and the communities they serve across the country."
SOURCE: CNW Newswire Press Release
__________________
Retail grocers applaud government for new credit/debit rules
TORONTO, April 16 /CNW/ - The Canadian Federation of Independent Grocers (CFIG) welcomes the announcement today by Finance Minister, Jim Flaherty, finalizing a Code of Conduct by which credit card companies must abide.
"The Code of Conduct is a very positive step and we are very pleased to note that many of the concerns CFIG has raised on behalf of independent retail grocers, such as negative option billing practices, have been heard and responded to, by the government." said John F.T. Scott, President and CEO of CFIG. Together with the decision announced by the Competition Bureau in February to ensure Interac remains a not-for-profit entity, this ensures some balance to the electronic payment system in Canada.
CFIG also welcomed the decision by the Minister to bring in legislation that will give the government the ability to regulate the market if the voluntary Code of Conduct does not work. Scott added, "Together with a regulatory framework, the Code and the Interac decision provides retailers with choice and ensures that our members can continue to compete as important members of the food industry and the communities they serve across the country."
Over the last two years, retailers across the country have been hammered by unrelenting fee increases, a lack of transparency, and agreements forced on retailers that abused the dominant position of credit card companies in Canada. In particular, many small and medium size retailers simply do not have the clout to deal with credit card giants and payment processors.
Quotes:
"The Code of Conduct is a very positive step and we are very pleased to note that many of the concerns CFIG has raised on behalf of independent retail grocers, such as negative option billing practices, have been heard and responded to, by the government."
"Together with a regulatory framework, the Code and the Interac decision provides retailers with choice and ensures that our members can continue to compete as important members of the food industry and the communities they serve across the country."
SOURCE: CNW Newswire Press Release
INDUSTRY BUZZ: Retailers Try On New Sales Tactics - WSJ
An article in the Wall Street Journal's Management section this week says that companies are investing in training and adding financial incentives as motivation to get their store staff selling again. The article cites U.S. department store J.C. Penney as an example, noting that the company has given workers bonuses to promote better customer service, as the subsequent sales that come with the improved service. This is a move that is being seen across a broad range of retailers as consumers slowly return to their pre-recession spending. The WSJ asks this question, and ihr will do the same - In your opinion, what should managers be doing to encourage their sales staff to work harder?
________________________
Retailers Try On New Sales Tactics
Penney, Macy's, Home Depot Push Top-Line Growth as Shoppers Slowly Return
By RACHEL DODES And DANA MATTIOLI
In a bid to boost sales as consumers cautiously reopen their wallets, some retailers are putting more emphasis on top-line growth in employees' incentive pay and training programs.
J.C. Penney & Co. plans a three-day conference in June to bolster store managers' sales skills, and in February gave workers bonuses to boost service and sales. Macy's Inc. is tying a greater portion of top executives' bonuses to sales growth. Home Depot Inc. this month is starting to train cashiers, not just floor staff, new sales techniques.
The moves reflect a broader shift. After two years of cutting costs and boosting efficiency to shore up profits, CEOs are trying to shift into growth mode. Improving sales is a particular challenge for retailers, which are on the front lines of recovering from a consumer-led recession.
Craig Rowley, senior vice president of consultancy Hay Group's retail consulting business, says about 20% more clients have requested his advice on sales training in the past six months, and that such training is increasingly for customer service—a big driver of sales—rather than tasks like restocking.
In March, many retailers reported strong sales at stores open at least a year, partly thanks to an early Easter and weak year-ago results, but they still face a steep climb back to pre-recession levels.
Until February, when Penney eked out a 1.2% gain, its monthly same-store sales had declined for more than two years. Now "our focus is driving top-line growth," Myron E. Ullman III, Penney's chief executive officer, said in a Feb. 19 conference call.
Penney will push that theme at a store-manager summit in June. Topics for the summits, held every two years, vary; past years have focused on themes including store associates' "engagement," or bond with their jobs. This year, the 1,100 managers gathered in Plano, Texas, will zero in on sales.
At the three-day meeting, groups of 80 to 100 managers will rotate through about a dozen one-hour sessions on "selling skills" for each of Penney's product categories, such as fine jewelry, furniture, clothing and intimates, says Mike Theilmann, Penney's executive vice president of human resources and administration. Store managers will develop an "action plan" for growing each product category at their store, he says.
To start the effort during the critical holiday shopping season, the company decided to make its 125,000 hourly associates eligible for bonuses aimed at boosting sales by improving their stores' customer service scores, the first time it had done so over the holidays.
"We really want to drive the top line, and we think the best way you can do that is by increasing customer service," said Mr. Theilmann.
In February, associates who met or exceeded targets earned an average of $300 each. For the quarter ended Jan. 30, Penney's same-store sales declined 4.5%, but by less than the year-earlier period, when they fell 10.8%. Penney may repeat the initiative this year.
At Macy's, the board increased the sales component of CEO Terry J. Lundgren's bonus, from 20% to 33% of the total payout for the year ending Jan. 29, 2011.
If Macy's sees its sales increase by 1% above the company's plan, Mr. Lundgren will earn an additional $1.65 million, or 110% of his base salary, according to a recent filing with the Securities and Exchange Commission.
Macy's has seen sales at stores open at least a year fall for three straight years. Its objective this year is to grow same-stores by 1% to 2%.
Mr. Lundgren says he viewed the bonus move as "a signal internally to management and to the entire organization that sales is what we are all about." Other senior executives in the company's central buying and planning office in New York saw a similar shift in their compensation packages, he said.
In 2009, when Mr. Lundgren's bonus was more weighted toward earnings and cash flow, "it was all about executing the strategy and getting organized to take advantage of the future when the consumer returned," he says.
This month, Home Depot, whose U.S. same-store sales for the quarter ended Jan. 31 fell 1.1%, started putting its 60,000 cashiers through a training program it previously only put floor staff through. Executives knew that many customers try to locate items themselves, without asking floor staff; those shoppers' only interaction with Home Depot staff is with cashiers. So Home Depot's now training cashiers to ask customers if they've found everything. If not, the cashiers are trained to call the department to see if the item's in stock.
"It's about building a strong relationship with you, so you come back, and that results in improved sales," says Thomas Spahr, vice president of learning with Home Depot.
SOURCE: Wall Street Journal
________________________
Retailers Try On New Sales Tactics
Penney, Macy's, Home Depot Push Top-Line Growth as Shoppers Slowly Return
By RACHEL DODES And DANA MATTIOLI
In a bid to boost sales as consumers cautiously reopen their wallets, some retailers are putting more emphasis on top-line growth in employees' incentive pay and training programs.
J.C. Penney & Co. plans a three-day conference in June to bolster store managers' sales skills, and in February gave workers bonuses to boost service and sales. Macy's Inc. is tying a greater portion of top executives' bonuses to sales growth. Home Depot Inc. this month is starting to train cashiers, not just floor staff, new sales techniques.
The moves reflect a broader shift. After two years of cutting costs and boosting efficiency to shore up profits, CEOs are trying to shift into growth mode. Improving sales is a particular challenge for retailers, which are on the front lines of recovering from a consumer-led recession.
Craig Rowley, senior vice president of consultancy Hay Group's retail consulting business, says about 20% more clients have requested his advice on sales training in the past six months, and that such training is increasingly for customer service—a big driver of sales—rather than tasks like restocking.
In March, many retailers reported strong sales at stores open at least a year, partly thanks to an early Easter and weak year-ago results, but they still face a steep climb back to pre-recession levels.
Until February, when Penney eked out a 1.2% gain, its monthly same-store sales had declined for more than two years. Now "our focus is driving top-line growth," Myron E. Ullman III, Penney's chief executive officer, said in a Feb. 19 conference call.
Penney will push that theme at a store-manager summit in June. Topics for the summits, held every two years, vary; past years have focused on themes including store associates' "engagement," or bond with their jobs. This year, the 1,100 managers gathered in Plano, Texas, will zero in on sales.
At the three-day meeting, groups of 80 to 100 managers will rotate through about a dozen one-hour sessions on "selling skills" for each of Penney's product categories, such as fine jewelry, furniture, clothing and intimates, says Mike Theilmann, Penney's executive vice president of human resources and administration. Store managers will develop an "action plan" for growing each product category at their store, he says.
To start the effort during the critical holiday shopping season, the company decided to make its 125,000 hourly associates eligible for bonuses aimed at boosting sales by improving their stores' customer service scores, the first time it had done so over the holidays.
"We really want to drive the top line, and we think the best way you can do that is by increasing customer service," said Mr. Theilmann.
In February, associates who met or exceeded targets earned an average of $300 each. For the quarter ended Jan. 30, Penney's same-store sales declined 4.5%, but by less than the year-earlier period, when they fell 10.8%. Penney may repeat the initiative this year.
At Macy's, the board increased the sales component of CEO Terry J. Lundgren's bonus, from 20% to 33% of the total payout for the year ending Jan. 29, 2011.
If Macy's sees its sales increase by 1% above the company's plan, Mr. Lundgren will earn an additional $1.65 million, or 110% of his base salary, according to a recent filing with the Securities and Exchange Commission.
Macy's has seen sales at stores open at least a year fall for three straight years. Its objective this year is to grow same-stores by 1% to 2%.
Mr. Lundgren says he viewed the bonus move as "a signal internally to management and to the entire organization that sales is what we are all about." Other senior executives in the company's central buying and planning office in New York saw a similar shift in their compensation packages, he said.
In 2009, when Mr. Lundgren's bonus was more weighted toward earnings and cash flow, "it was all about executing the strategy and getting organized to take advantage of the future when the consumer returned," he says.
This month, Home Depot, whose U.S. same-store sales for the quarter ended Jan. 31 fell 1.1%, started putting its 60,000 cashiers through a training program it previously only put floor staff through. Executives knew that many customers try to locate items themselves, without asking floor staff; those shoppers' only interaction with Home Depot staff is with cashiers. So Home Depot's now training cashiers to ask customers if they've found everything. If not, the cashiers are trained to call the department to see if the item's in stock.
"It's about building a strong relationship with you, so you come back, and that results in improved sales," says Thomas Spahr, vice president of learning with Home Depot.
SOURCE: Wall Street Journal
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