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José Andrés’ Mercado Little Spain Named Official Home Of LaLiga North America

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LaLiga Logo

NEW YORK, Aug. 21, 2019 /PRNewswire-HISPANIC PR WIRE/ — LaLiga North America and ThinkFoodGroup today announced their partnership to establish Mercado Little Spain as the official Home of LaLiga in New York. Throughout the upcoming season, Mercado Little Spain will show all live ‘fútbol’ games and host special events, allowing fans to experience the drama and passion of the league firsthand.  

LaLiga Logo

Opened in March of 2019 by beloved Spanish chef José Andrés, Mercado Little Spain is a Spanish market and all-day dining destination that has taken New York City by storm. Andrés himself told Fast Company that “Spain is here in America,” making it a natural fit to be the home of LaLiga in the US. 

“We are thrilled to have Mercado Little Spain as our official home in New York, and to create a space where fans can experience the best of Spanish culture together: Food and Soccer,” said LaLiga North America’s CEO Boris Gartner. “José Andrés is a recognized ambassador of Spain in the U.S., he’s a diehard LaLiga fan, and we are proud to partner with him to bring Spain closer to America.” 

“Fútbol has always been a big, big part of my life, along with many Spaniards and more and more Americans every year,” said José Andrés. “Our partnership with LaLiga will give a meeting place to all of us – American, Spanish, everyone – who want to enjoy the greatest sport on Earth.” 

For up-to-date announcements on LaLiga events at Mercado Little Spain, follow LaLiga North America and Mercado Little Spain on social media and watch for news on their respective platforms. The 2019-2020 season kicked off last Friday, August 16th with a match between Atletico de Madrid and FC Barcelona. LaLiga games are broadcasted in the US via beIN Sports. For a full calendar of games, please visit the LaLiga website.  

Media Contact for LaLiga North America
Katie Case, [email protected]  

Media Contact for Mercado Little Spain 
Chloe Mata Crane, [email protected]   

About LaLiga North America
LaLiga North America is a joint venture between LaLiga, Spain’s top-flight soccer competition and professional association, and Relevent Sports Group, a multinational media, sports and entertainment group, which serves as the exclusive representation of LaLiga in the U.S. and Canada for all business and development activities. The operation supports the league’s growth in the region through consumer related activities including content development, events and activations, marketing agreements, youth  academies, development of youth soccer coaches, exhibition matches and plans to have an official LaLiga Santander match played in the U.S.

About Mercado Little Spain 
Mercado Little Spain is José Andrés’s 35,000 square foot Spanish market and all-day dining destination. Inspired by the social and cultural significance of the mercado in Spain, it features three full service restaurants, three bars, and more than a dozen food and retail kiosks highlighting the best of authentic Spanish cuisine. Follow Mercado Little Spain on Instagram @littlespain, Facebook /littlespain and Twitter @little_spain.

Logo – https://mma.prnewswire.com/media/963643/LaLiga_North_America_Logo.jpg  
Logo – https://mma.prnewswire.com/media/963644/Mercado_Little_Spain_Logo.jpg  

SOURCE LaLiga North America

OneWest Bank Launches New Promotion Supporting Local Small Businesses

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PASADENA, California, Aug. 21, 2019 /PRNewswire-HISPANIC PR WIRE/ — OneWest Bank, CIT’s Southern California retail bank division, today announced a new small business banking promotion for both new and established businesses across Southern California. Business banking customers can earn up to $600 by opening an eligible checking account, savings account and by financing equipment for their business.

“OneWest is pleased to put money back into the pockets of small businesses so they can better serve local residents,” said Heather Ellison, senior vice president of Retail Banking for OneWest Bank. “This effort demonstrates our commitment to helping businesses thrive across the communities where we live and work.”

OneWest offers a competitive range of products and account features designed to empower local small businesses including OneBusiness Interest Checking and Money Market Savings accounts, which are part of this promotion. OneWest is also enabling customers to apply for equipment financing through its parent company CIT, which helps finance the acquisition of equipment and other value-added services.1

“Investing in new equipment is often essential to growing or maintaining a small business,” continued Ellison. “Through our partnership with CIT’s small business solutions team, we’re now able to provide convenient access to equipment financing as an added resource for local businesses,” continued Ellison.

OneWest Bank’s promotion runs through 2019 and more information can be found here.

About OneWest Bank
OneWest Bank is committed to helping Southern California consumers and small businesses meet their financial goals by offering a variety of personal and small business banking and lending solutions. We are passionate about serving the Southern California community and are proud to invest in the neighborhoods where we live and work. OneWest Bank is a division of CIT Bank, N.A. (Member FDIC, Equal Housing Lender), a subsidiary of CIT Group Inc. (NYSE: CIT). Founded in 1908, CIT Group Inc. has approximately $50 billion in assets. For more information, visit OneWestBank.com and follow us on Facebook.

MEDIA RELATIONS:
Olivia Weiss
212-771-9657
[email protected] 

1 OneWest Bank is a division of CIT Bank N.A.

Logo – https://mma.prnewswire.com/media/766202/OneWest_Bank_Logo.jpg

SOURCE OneWest Bank

It’s the 100-Day Countdown to Thanksgiving: Skyscanner Reveals the Best Time to Book

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MIAMI, Aug. 20, 2019 /PRNewswire-HISPANIC PR WIRE/ — Skyscanner.com, the global travel search engine and go-to resource for all travel deals, has a time-honored tradition of capping off the summer with the highly anticipated data for the best time to book Thanksgiving travel, and today’s the day. Skyscanner collated and analyzed data from its more than 90 million monthly users and found that domestic Thanksgiving travel favors last-minute travelers, with some of the best deals to be found two to three weeks in advance and with savings sometimes as high as 20 percent.

The insights led to a deeper dive into itineraries, length of travel, and how Thanksgiving travelers go about their planning and booking. When looking at the data alone for 2018 domestic travel, Skyscanner found the majority of travelers booked their flights one to two weeks before Thanksgiving.

Skyscanner analyzed the data and found travelers tend to fit into one of three personas:

  • Almost 60 percent of Americans are midweek travelers, choosing to depart on Tuesday or Wednesday and return between Friday and Sunday
  • Approximately 10 percent are week-long travelers, and travel weekend to weekend (Saturday/Sunday to the following Saturday/Sunday)
  • Nearly 20 percent are same-day travelers, preferring to avoid the airport masses and depart on Thanksgiving Thursday and return between Friday and Sunday
    • Note: Skyscanner data found the amount of people who fly on Thanksgiving day itself was double the size of the week-long Thanksgiving travelers

Regardless of which persona a traveler identifies with or where they plan to enjoy a Thanksgiving turkey dinner, booking at least two weeks in advance is recommended in order to find the best prices.

  • If traveling with the majority of Americans on Tuesday or Wednesday, Skyscanner found the most consistent deals by booking between one month and two weeks in advance.
  • The week-long travelers’ time window to find good deals starts from two months in advance up until two weeks out.
  • And finally, for those that swear by the Thursday flight – it turns out there is truth to this rumor! On average, these travelers found better deals than the other travelers. Not only that, they also had a longer booking window to score these deals – deals started up to three months in advance, and could still be found up to two weeks in advance.

In order to ensure travelers find the best deal to their destination this Thanksgiving, Skyscanner has compiled some helpful tips to make the process easier:

  • Set up price alerts for different departure dates, keeping in mind the majority of Americans will be flying on Tuesday/Wednesday
  • Set up price alerts in advance, since deals do occur starting now (Skyscanner data just shows when the deals are consistently available)
  • Remember, this is for domestic data only – if looking for an international trip during Thanksgiving week, it is always best to book international flights months in advance!
  • For 2019, deals are already available, but the week of Halloween is a good week to buy based on 2018 data

Explore the top deals available right now on Skyscanner.com or the Skyscanner App, and visit the news site for travel inspiration, ideas, deals and much more.

*Data Methodology:
Skyscanner holiday travel data is based on historic search and exit data collated over the past year. US to US round-trip travel for one-adult ticket was analyzed.

About Skyscanner
Skyscanner is a leading global travel search company providing free search of flights, hotels and car rental. Founded in 2003, Skyscanner helps to meet the travel planning needs of over 90 million people each month. Skyscanner is available in over 30 languages. Skyscanner’s highly-rated free mobile app has been downloaded over 70 million times. The privately-owned company employs over 900 staff and has ten global offices in Edinburgh, Singapore, Beijing, Shenzhen, Miami, Barcelona, Glasgow, Sofia, Budapest and London. For more information, please visit http://www.skyscanner.com and our travel news site.

Logo – https://mma.prnewswire.com/media/561502/Skyscanner_Logo.jpg

SOURCE Skyscanner

(Español) Los NIH financian un recurso de asesoría genética en preparación para la campaña de secuenciación de un millón de personas

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Sorry, this entry is only available in Español.

(Español) Reglas de seguridad para ¡el regreso a clases!

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The U.S. Consumer Product Safety Commission is an independent federal agency created by Congress in 1973 and charged with protecting the American public from unreasonable risks of serious injury or death from more than 15,000 types of consumer products under the agency's jurisdiction. To report a dangerous product or a product-related injury, call the CPSC hotline at 1-800-638-2772, or visit http://www.saferproducts.gov. Further recall information is available at http://www.cpsc.gov.

Sorry, this entry is only available in Español.

NYC Television Week Announces Preliminary Speaker Lineup in a New Track Format, Including Hispanic TV Summit

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Future_plc_Logo

NEW YORK, Aug. 20, 2019 /PRNewswire-HISPANIC PR WIRE/ — NYC Television Week, presented by Broadcasting & Cable and Multichannel News magazines, today announced its transformation for 2019, to a large conference featuring topical tracks and special events that will cover recent changes and challenges in the industry, as well as celebrate industry leaders.  New for 2019, NYC Television Week will now feature a 4-track format of conference sessions on the following topics: Streaming, TV Data, Advanced Advertising, and Hispanic TV. The week of events will also feature special celebrations including the 29th annual Broadcasting & Cable Hall of Fame and the 2nd annual NYC TV Week 40 Under 40 reception. The events will be presented at various locations within New York City, from Monday, October 28 through Wednesday, October 30, 2019, and are sponsored by NBCUniversal Hispanic Group, Condista, Castalia Communications, Mexicanal, Google, Applicaster, Cadent, IHS Markit, Nielsen, Univision, Canoe, iSpot.TV, Tavant, Disney Advertising Sales, Epsilon and TVSquared.

“2019 has been a transformative year so far in the broadcasting and cable industries and we’re thrilled to have NYC Television Week keeping pace with the brightest innovators in the marketplace. Our new format of four tracks will be packed with innovative content covering the latest topics in multi-platform advertising, OTT, streaming video, big data, personalization and much more.  Attendees will benefit from all three days of content, providing an invaluable opportunity to learn, share and create new ideas,” said Randi Schatz, VP/Market Leader of Media Entertainment at Future plc, publisher of Broadcasting & Cable and Multichannel News.

A key enhancement to the program is the addition of  17th Annual Hispanic Television Summit to the fold of NYC Television Week. The summit, which continues to be produced by Schramm Marketing Group, is the biggest and most important annual gathering for those in the business of television and video for Hispanic audiences in the U.S. and worldwide. Television and online video continue to serve as the most reliable source of information, entertainment and sports for the nearly 58 million U.S. Hispanic viewers as well as the hundreds of millions more in Latin America and the Caribbean. This year’s summit during NYC Television Week will explore how these changing options are having a critical effect on influencing Hispanic viewers, and generating revenues for advertisers, programmers, content creators and content providers.  A highlight of each year’s Hispanic TV Summit has been the awards luncheon. This year’s awards will once again celebrate leaders in brand advertising, on-air talent, programming, and network management.   The Award for Corporate Leadership in Hispanic Television and Video will be presented to the well-known brand, AARP. The award will be accepted by AARP’s Vice President, Multicultural Leadership, Hispanic/Latino Audience Strategy, Yvette Peña. The Award for Outstanding Achievement in Hispanic Television and Video Programming will be presented to Univision’s “República Deportiva.” The award will be accepted by Félix Fernández, Co-host, TUDN’s “República Deportiva”; Juan Carlos Rodriguez, President of Sports, Univision Communications Inc. and Federico Lariño, Senior Vice President, Sports Entertainment, Univision Communications, Inc.

“The Hispanic Television Summit has an unparalleled legacy within the industry as a source of valuable content and networking opportunities,” said Bill Gannon, VP of Content & Global Editor-In-Chief at Broadcasting & Cable and Multichannel News. “We are thrilled to bring this expertise and energy into NYC Television Week to provide our television and broadcast professional attendees with even more innovative solutions and insights into the future trends of the television and video industry.”

The speakers to date for NYC Television Week 2019 are:

Keynote Speakers:

  • Karina Dobarro, Horizon Media
  • Jennifer Koester, Google
  • Manuel Martinez, Telemundo Station Group
  • Gina Mingioni, Comcast Cable Advertising
  • Shane Peros, Google
  • Tom Ryan, Pluto TV
  • Lia Silkworth, Telemundo
  • Valari Staab, NBCUniversal Owned Television Stations

Panelists & Presenters:

  • Jonathan Barzilay, PBS
  • Michael Bishara, Discovery
  • Mike Bloxham, Magid
  • Kaizar Campwala, ABC News
  • Richard Glosser, Verance
  • Brian Handrigan, Advocado
  • Tim Hanlon, The Vertere Group, LLC
  • Andrew Hare, Magid
  • Dan Hurwitz, Penthera
  • Keith Kazerman, Discovery
  • Jo Kinsella, TVSquared
  • Kevin Krim, EDO
  • Pankaj Kumar, NBCUniversal
  • Steve Mandala, Univision Communications Inc.
  • Lance Neuhauser, 4C
  • Gerrit Niemeijer, NCC Media
  • Carla Noriega, Casanova//McCann
  • Damian Pelliccione, Revry
  • Ken Ripley, Newsy
  • Romina Rosado, NBCUniversal Telemundo Enterprises
  • William Sager, The Preview Channel
  • Randi Schatz, Broadcasting & Cable and Multichannel News
  • Joe Schramm, Schramm Marketing Group
  • Steven Walsh, Comscore
  • Adriana Waterston, Horowitz Research
  • Rob Weisbord, Sinclair Broadcast Group
  • Tom Weiss, Dativa
  • Shereta Williams, Videa

For a detailed look at all of the NYC Television Week events including programs and registration information, visit www.nyctvweek.com.

Learn more about Future plc.

Logo – https://mma.prnewswire.com/media/734073/Future_plc_Logo.jpg

Contact: Danielle Blanchette, (646) 877-9642, [email protected]  

SOURCE Broadcasting & Cable and Multichannel News

(Español) El Alcalde Juan Carlos Bermudez de la Ciudad de Doral situada en Miami Dade County, designa a la Lic. Nancy Clara como representante de la ciudad en Argentina, para gestionar acercamiento entre ambos territorios

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El Alcalde de City of Doral, junto a la Licenciada Nancy Clara

Sorry, this entry is only available in Español.

African American Mayors Association Releases Comprehensive Report on the Future of Work in Cities

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AAMA Logo

WASHINGTON, Aug. 19, 2019 /PRNewswire-HISPANIC PR WIRE/ — The African American Mayors Association (AAMA) just released a new report entitled, “The Future of Work: The Effect of Job Automation on African-American and Latino Workers in Three Cities.” This is the first in-depth study on automation that pairs economic analysis with educational analysis to offer localized solutions to anticipated job loss due to automation. The report examined three local economies: Gary, Indiana, Long Beach, California and Columbia, South Carolina. The study found that while jobs lost to automation may range anywhere from 9 percent to upwards of 50 percent for black and Latino workers in the cities studied, localities already have many often underutilized tools to mitigate such losses such as online training programs and apprenticeships.

AAMA Logo

Mayors have a close-up view of the needs and experiences of residents and local industries. They also have close connections to school boards and county and state government officials. Thus, local leaders are in strategic positions to marshal and coordinate resources and disseminate information about education and workforce training programs. In addition, local leaders can lobby state and federal governments to support high-quality, evidence-based programs and develop comprehensive systems of workforce development. With information about the needs and resources within their communities, local leaders can be at the forefront of efforts to prepare their workforce for the future.

“I am excited that the African American Mayors Association is leading on the important issue of preparing black and brown workers for the future economy,” said AAMA President, Hardie Davis, Mayor of Augusta, GA. “Mayors serve an important role in not only understanding the future of work, but also in developing strategies to prepare young adults for employment, and in retraining the existing workforce to be active, productive participants in the changing labor market.”

“What we have discovered through this is that research has the power to transform the American economy and, in particular, to revitalize black and brown communities and prepare an entire generation for the work of the future,” said Mayor Steve Benjamin of Columbia, SC. “There is still time to ensure our cities are ready to take on the demands of an increasingly global economy. We don’t have to get left behind–we can be essential to transforming the role the United States plays on the international stage.”

“I am grateful to the researchers, collaborators and contributors who worked with us to bring this report to fruition,” said Stephanie Mash Sykes, Executive Director and General Counsel of AAMA. “Cities all across the country are grappling with similar challenges in regard to educating and retraining their workforce for the next phase of job automation. It is important that AAMA is a leader in developing solutions to the challenges that have a disproportionate impact on black and Latino workers. While there are still many unknowns in regard to the magnitude of job losses, what is known is that now is the time for elected officials to work closely with educators and industry leaders to ensure workers have the needed skills for the future economy. AAMA looks forward to working closely with cities on next steps.”

AAMA collaborated with Dr. Zoelene Hill, Education Researcher for AAMA, Dr. Patrick Mason, Florida State University, the Charles Hamilton Houston Institute For Race & Justice at Harvard Law School, and the NALEO Education Fund on the report. Google.org funded the report which can be viewed online.

On September 19, AAMA will convene a forum at Harvard Law School to further discuss the findings. For details and RSVP information for the September event, contact Jamie Pascal, Manager of Policy and Programs for AAMA at [email protected].

About AAMA

The African American Mayors Association (AAMA) is the only organization exclusively representing over 500 African-American mayors across the United States. AAMA seeks to empower local leaders for the benefit of their citizens. The role of the AAMA includes taking positions on public policies that impact the vitality and sustainability of cities; providing mayors with leadership and management tools; and creating a forum for member mayors to share best practices related to municipal management.

Logo – https://mma.prnewswire.com/media/946597/AAMA_Logo.jpg

SOURCE African American Mayors Association

10,000 Dancers From Around The World Take Over The New York Marriott Marquis For The 2019 Goya Foods New York International Salsa Congress

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NYISC_Logo

NEW YORK, Aug. 20, 2019 /PRNewswire-HISPANIC PR WIRE/ — The Goya Foods New York International Salsa Congress (#goyaNYISC2019), the largest multi-day Latin music and dance festival, celebrates its 19th anniversary with 10,000 dancers from around the world at the New York Marriott Marquis in Times Square from Thursday, August 29, 2019 to Sunday, September 1, 2019.

From beginners to professional dancers, the congress brings together people of all cultures, ages and backgrounds from over 40 countries to experience the mecca of Latin culture and entertainment.  “We are excited to host the most fun-filled Latin dance event in one of the most beloved cities in the world, and we would not be able to do it without the support of our sponsors and attendees who travel from near and far to have four days of unforgettable experiences!” said Vilma and Manny Villavicencio, and Luis Guerrero, owners of the NYISC.

The event features 60 multi-level dance workshops and boot camps, youth and adult performances by world-renowned dance teams and couples, and non-stop social dancing to music by Grammy-nominated Doug Beavers, Herman Olivera, Moncho Rivera, and Tony Vega.  The festival is also host to the “Old Skool Room,” for dancers who frequented the famed NYC nightclubs from the 1950’s to present day and are dedicated to preserving the tradition of the New York, Puerto Rican and Cuban styles of dance and Latin music folklore with LIVE music by Johnny Rodriguez Jr. and The Dream Team.

“When it comes to hosting a party, there are three things Latinos never forget to include food, music and dance, and for this and so much more, we celebrate the music and dance of our culture and help to bring together thousands of fans from around the globe to NYC’s greatest dance floor!” said Rafael Toro, Director of Public Relations of Goya Foods.

Sponsor T-Mobile will also host free dance lessons and parties at the T-Mobile flagship store in Times Square from Thursday to Sunday afternoons. 

The event is in partnership with the 2019 People En Español Festival, which will return to New York City October 5-6 to celebrate Hispanic celebrities, culture and communities during Hispanic Heritage Month.

To purchase tickets & for more information please visit, www.newyorksalsacongress.com Follow NYISC on Facebook, Twitter, Instagram and Youtube.  For more information about sponsorship opportunities and press coverage, please contact [email protected] or at 845.659.6506.

ABOUT PEOPLE EN ESPAÑOL
PEOPLE EN ESPAÑOL was launched in 1996 as a special issue and today has become the top-selling Hispanic magazine in the United States. Published 9 times a year, PEOPLE EN ESPAÑOL reaches an audience of 7 million every month with its editorial mix of Hispanic and popular entertainment, fashion and beauty trends and compelling human-interest stories. PEOPLE EN ESPAÑOL delivers original editorial content that captures the values, contributions and impact of today’s Hispanics in the United States. The brand’s social media footprint includes 1,400,000 followers on Twitter, over 4,300,000 “Likes” on Facebook and 1,800,000 followers on Instagram. For daily news, photos, exclusive behind-the-scenes video and celebrity scoops, visit www.peopleenespanol.com and follow PEOPLE EN ESPAÑOL on Twitter at @peopleenespanol.

Contact: Natalie Maniscalco
Retro Media NYC/ [email protected]/ 845.659.6506

Video – https://www.youtube.com/watch?v=BmKgePraN5I
Logo – https://mma.prnewswire.com/media/963033/NYISC_Logo.jpg

SOURCE The Goya Foods New York International Salsa Congress

The Home Depot Announces Second Quarter Results; Updates Fiscal Year 2019 Guidance

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The Home Depot logo.

ATLANTA, Aug. 20, 2019 /PRNewswire-HISPANIC PR WIRE/ — The Home Depot®, the world’s largest home improvement retailer, today reported sales of $30.8 billion for the second quarter of fiscal 2019, a 1.2 percent increase from the second quarter of fiscal 2018. Comparable sales for the second quarter of fiscal 2019 were positive 3.0 percent, and comparable sales in the U.S. were positive 3.1 percent. In the second quarter, the principal difference between the Company’s sales growth and comparable sales performance reflects a shift in the fiscal calendar base due to 53 weeks of sales in fiscal 2018.

The Home Depot logo.

Net earnings for the second quarter of fiscal 2019 were $3.5 billion, or $3.17 per diluted share, compared with net earnings of $3.5 billion, or $3.05 per diluted share, in the same period of fiscal 2018. For the second quarter of fiscal 2019, diluted earnings per share increased 3.9 percent from the same period in the prior year.

“We were pleased with our results as we delivered accelerating comp performance throughout the quarter,” said Craig Menear, chairman, CEO and president. “I would like to thank our associates for their hard work and continued dedication to our customers.”

“We are encouraged by the momentum we are seeing from our strategic investments and believe that the current health of the U.S. consumer and a stable housing environment continue to support our business. That being said, lumber prices have declined significantly compared to last year, which impacts our sales growth. As a result, today we are updating our sales guidance to account primarily for continued lumber price deflation, as well as potential impacts to the U.S. consumer arising from recently announced tariffs. We are reaffirming our earnings-per-share growth guidance for fiscal 2019.”

Fiscal 2019 Guidance

The Company updated its guidance for fiscal 2019, a 52-week year compared to fiscal 2018, a 53-week year. The Company expects its fiscal 2019 sales to grow by approximately 2.3 percent and comp sales for the comparable 52-week period to be up approximately 4.0 percent. The Company reaffirmed its diluted earnings-per-share growth guidance for the year and expects diluted earnings-per-share growth of approximately 3.1 percent from fiscal 2018 to $10.03.

The Home Depot will conduct a conference call today at 9 a.m. ET to discuss information included in this news release and related matters. The conference call will be available in its entirety through a webcast and replay at http://ir.homedepot.com/events-and-presentations.

At the end of the second quarter, the Company operated a total of 2,291 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The Company employs more than 400,000 associates. The Home Depot’s stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor’s 500 index.

Certain statements contained herein constitute “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may relate to, among other things, the demand for our products and services; net sales growth; comparable sales; effects of competition; implementation of store, interconnected retail, supply chain and technology initiatives; inventory and in-stock positions; state of the economy; state of the housing and home improvement markets; state of the credit markets, including mortgages, home equity loans and consumer credit; impact of tariffs; issues related to the payment methods we accept; demand for credit offerings; management of relationships with our associates, suppliers and vendors; continuation of share repurchase programs; net earnings performance; earnings per share; dividend targets; capital allocation and expenditures; liquidity; return on invested capital; expense leverage; stock-based compensation expense; commodity price inflation and deflation; the ability to issue debt on terms and at rates acceptable to us; the impact and expected outcome of investigations, inquiries, claims and litigation; the effect of accounting charges; the effect of adopting certain accounting standards; the impact of the Tax Cuts and Jobs Act of 2017 and other regulatory changes; store openings and closures; guidance for fiscal 2019 and beyond; financial outlook; and the integration of acquired companies into our organization and the ability to recognize the anticipated synergies and benefits of those acquisitions.  Forward-looking statements are based on currently available information and our current assumptions, expectations and projections about future events.  You should not rely on our forward-looking statements. These statements are not guarantees of future performance and are subject to future events, risks and uncertainties – many of which are beyond our control, dependent on the actions of third parties, or are currently unknown to us – as well as potentially inaccurate assumptions that could cause actual results to differ materially from our expectations and projections. These risks and uncertainties include but are not limited to those described in Item 1A, “Risk Factors,” and elsewhere in our Annual Report on Form 10-K for our fiscal year ended February 3, 2019 and in our subsequent Quarterly Reports on Form 10-Q.

Forward-looking statements speak only as of the date they are made, and we do not undertake to update these statements other than as required by law. You are advised, however, to review any further disclosures we make on related subjects in our periodic filings with the Securities and Exchange Commission.

 

 

THE HOME DEPOT, INC.
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)

Three Months Ended

Six Months Ended

in millions, except per share data

August 4,
2019

July 29,
2018

% Change

August 4,
2019

July 29,
2018

% Change

Net sales

$

30,839

$

30,463

1.2

%

$

57,220

$

55,410

3.3

%

Cost of sales

20,407

20,098

1.5

37,771

36,428

3.7

Gross profit

10,432

10,365

0.6

19,449

18,982

2.5

Operating expenses:

Selling, general and administrative

5,044

5,004

0.8

9,984

9,783

2.1

Depreciation and amortization

492

460

7.0

972

917

6.0

Total operating expenses

5,536

5,464

1.3

10,956

10,700

2.4

Operating income

4,896

4,901

(0.1)

8,493

8,282

2.5

Interest and other (income) expense:

Interest and investment income

(19)

(26)

(26.9)

(34)

(48)

(29.2)

Interest expense

302

272

11.0

590

533

10.7

Interest and other, net

283

246

15.0

556

485

14.6

Earnings before provision for income taxes

4,613

4,655

(0.9)

7,937

7,797

1.8

Provision for income taxes

1,134

1,149

(1.3)

1,945

1,887

3.1

Net earnings

$

3,479

$

3,506

(0.8)

%

$

5,992

$

5,910

1.4

%

Basic weighted average common shares

1,095

1,144

(4.3)

%

1,098

1,148

(4.4)

%

Basic earnings per share

$

3.18

$

3.06

3.9

$

5.46

$

5.15

6.0

Diluted weighted average common shares

1,099

1,149

(4.4)

%

1,103

1,154

(4.4)

%

Diluted earnings per share

$

3.17

$

3.05

3.9

$

5.43

$

5.12

6.1

Three Months Ended

Six Months Ended

Selected Sales Data (1)

August 4,
2019

July 29,
2018

% Change

August 4,
2019

July 29,
2018

% Change

Customer transactions (in millions)

455.5

455.4

—

%

845.5

831.2

1.7

%

Average ticket

$

67.31

$

66.20

1.7

$

67.31

$

66.12

1.8

Sales per square foot

$

509.55

$

504.20

1.1

$

472.22

$

458.07

3.1

——————————

(1)

Selected Sales Data does not include results for the legacy Interline Brands business, now operating as a part of The Home Depot Pro.

 

 

THE HOME DEPOT, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)

in millions

August 4,
2019

July 29,
2018

February 3,
2019

Assets

Cash and cash equivalents

$

2,547

$

3,490

$

1,778

Receivables, net

2,274

2,164

1,936

Merchandise inventories

14,741

14,044

13,925

Other current assets

1,137

1,104

890

Total current assets

20,699

20,802

18,529

Net property and equipment

22,387

21,909

22,375

Operating lease right-of-use assets

5,789

—

—

Goodwill

2,254

2,251

2,252

Other assets

881

1,270

847

Total assets

$

52,010

$

46,232

$

44,003

Liabilities and Stockholders’ Equity

Short-term debt

$

—

$

—

$

1,339

Accounts payable

9,494

9,407

7,755

Accrued salaries and related expenses

1,478

1,535

1,506

Current installments of long-term debt

1,315

2,203

1,056

Current operating lease liabilities

831

—

—

Other current liabilities

5,680

5,281

5,060

Total current liabilities

18,798

18,426

16,716

Long-term debt, excluding current installments

27,064

23,295

26,807

Long-term operating lease liabilities

5,263

—

—

Other liabilities

2,045

2,502

2,358

Total liabilities

53,170

44,223

45,881

Total stockholders’ (deficit) equity

(1,160)

2,009

(1,878)

Total liabilities and stockholders’ equity

$

52,010

$

46,232

$

44,003

 

 

THE HOME DEPOT, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

Six Months Ended

in millions

August 4,
2019

July 29,
2018

Cash Flows from Operating Activities:

Net earnings

$

5,992

$

5,910

Reconciliation of net earnings to net cash provided by operating activities:

Depreciation and amortization

1,107

1,062

Stock-based compensation expense

139

144

Changes in working capital

1,122

910

Changes in deferred income taxes

58

(120)

Other operating activities

79

1

Net cash provided by operating activities

8,497

7,907

Cash Flows from Investing Activities:

Capital expenditures, net of non-cash capital expenditures

(1,246)

(1,091)

Proceeds from sales of property and equipment

11

16

Other investing activities

(14)

—

Net cash used in investing activities

(1,249)

(1,075)

Cash Flows from Financing Activities:

Repayments of short-term debt, net

(1,339)

(1,559)

Proceeds from long-term debt, net of discounts and premiums

 

1,404

—

Repayments of long-term debt

(1,030)

(28)

Repurchases of common stock

(2,619)

(3,121)

Proceeds from sales of common stock

157

125

Cash dividends

(2,991)

(2,373)

Other financing activities

(70)

142

Net cash used in financing activities

(6,488)

(6,814)

Change in cash and cash equivalents

760

18

Effect of exchange rate changes on cash and cash equivalents

9

(123)

Cash and cash equivalents at beginning of period

1,778

3,595

Cash and cash equivalents at end of period

$

2,547

$

3,490

 

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SOURCE The Home Depot

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