(Español) Xtava retira del mercado secadoras de cabello Allure debido a riesgos de incendio, quemaduras y choque eléctrico
NOVUS reigns as the official footwear of MUPR 2018
SAN JUAN, Puerto Rico, Aug. 15, 2018 /PRNewswire-HISPANIC PR WIRE/ — Novus has joined Miss Universe Puerto Rico as the official footwear sponsor with an exclusive collection designed for the prestigious pageant.
The protagonist of this collection is the emblematic pointy “stiletto” pump in beige patent leather by Idoré. This is the perfect style for any contestant’s wardrobe, as it portrays elegance and confidence. The participants will also wear two metallic sandals: a silver specchio single-sole sandal and a rhinestone ornamented gold sandal.
Official pageant activities such as runways, workshops, social events, and the final competition, were taken into consideration in the selection of these styles in order to offer the aspiring contestants a variety of the highest quality footwear.
“We chose Novus as the official footwear because they represent the avant-garde and the elegance we want our contestants to portray in the pageant,” said Denise Quiñones, the director of Miss Universe Puerto Rico.
As part of the official schedule of the pageant, Novus will welcome the contestants and their followers on September 13th at 1:00pm in Novus located in San Patricio Plaza. The Idoré collection for MUPR will be available in stores and online starting in the month of September.
655 Cubitas St
Guaynabo, PR 00969-2802
Contact: Frances De la Cruz
Phone: 787-272-4546
Email: [email protected]
Photo – https://mma.prnewswire.com/media/730733/Novus_MUPR_Crema.jpg
Photo – https://mma.prnewswire.com/media/730735/Novus_MUPR_sandal.jpg
Logo – https://mma.prnewswire.com/media/730736/Novus.jpg
SOURCE Novus Inc.
Bosch Appliances for Your Small Space — Now Available at The Home Depot
ATLANTA, Aug. 15, 2018 /PRNewswire-HISPANIC PR WIRE/ — Living in a small space doesn’t have to mean sacrificing style or quality, thanks to some new offerings at The Home Depot® (NYSE: HD) featuring Bosch appliances. Known for quality, flexibility and quiet functionality, Bosch has everything you want for your own small oasis in a bustling metropolitan area.
“Bosch is most notable in its strength in dishwashers and products that solve for small space needs,” says Home Depot Merchandising Vice President, David Passafiume. “We’re excited to have Bosch as a new partner and to bring this new innovation to our customers.”
Here are few Bosch favorites specifically designed for living in small spaces:
Slim and simple dishwashing
With an 18-inch design, this Bosch dishwasher with concealed controls saves you space without sacrificing function. By adding a third rack, it even offers 30 percent more loading capacity than a standard-sized dishwasher. And with the quietest cycle on the market, you can run your Bosch dishwasher even if your kitchen doubles as your living room – and your living room as your bedroom.
Compact but cool
This 24-inch refrigerator, part of Bosch’s 800 Series, not only keeps your food fresh with the HydroFresh Drawer, but also offers more bells and whistles than most other full-sized fridges. The OptiFlex hinge makes it easy to fit into your limited space on the outside, while an extra-deep frozen food drawer provides the space you need to stack a several frozen pizzas on the inside. In addition, The Home Connect app allows control via a smart device.
Wash and dry with ease
No need to go to a laundromat with this compact pair. At 24 inches each, this high efficiency washer and dryer can fit stacked in your spare closet or side-by-side in the kitchen. With the capacity to wash and dry up to 16 towels while conserving energy and minimizing noise, this duo is perfect for your small space.
Logo – https://mma.prnewswire.com/media/118058/the_home_depot_logo.jpg
SOURCE The Home Depot
Honda Associates to Test Their Skills Driving Honda Light Trucks in All-Women Rebelle Rally Off-Road Navigation Event
TORRANCE, California, Aug. 14, 2018 /PRNewswire-HISPANIC PR WIRE/ — Embracing Honda’s “Challenging Spirit,” two teams of associates from Honda R&D Americas, Inc. (HRA) will compete in the 2018 Rebelle Rally women’s off-road navigation event. The rally, which starts on October 11 in Lake Tahoe, Calif., will cover approximately 1,500 grueling off-road miles of desert and mountain terrain in California and Nevada over eight days, testing the skills and endurance of the driver/navigator teams and the off-road prowess and durability of their Honda vehicles.
While working on a Honda light truck project, Torrance, CA-based HRA product planner Ariel Jen learned of the Rebelle Rally and saw the event as an opportunity. “I love to challenge myself and learn new things and the Rebelle Rally seemed like a perfect opportunity to do all those things,” said Jen. “It’s a way to learn more about the world of off-roading and trucks and to unite women at Honda to accomplish something amazing.”
Understanding that preparing for and participating in the event would provide project members valuable knowledge and experience they could bring to their various R&D roles and the demands of the off-road driving event would demonstrate the durability and reliability of Honda light trucks in extreme conditions, Honda management approved the project.
The Honda associate rally teams feature two driver/navigator combinations, the “Desert Dreamers” team #208 with Jen partnered with Torrance-based exterior stylist Lili Melikian in a 2019 Pilot, and the Ohio-based “Ridgeline Rebels” team #209 consisting of engine test engineer Maria Guitar teamed with crash test engineer Michelle Klein driving a 2018 Ridgeline. The teams are currently preparing for the event, supported by more than two dozen Honda volunteers in both California and Ohio, with Honda supporting the associates’ initiative through funding, vehicles, shop space, practice/training opportunities and technical expertise.
Demonstrating Honda Capability
The 2019 Honda Pilot and 2018 Honda Ridgeline Honda’s Rebelle Rally teams will drive remain mostly stock, with both lightly modified for the rally event with more aggressive off-road tires, skid plates, auxiliary lights, increased ground clearance on the Pilot and other changes required for carrying off-road equipment such as jacks and an onboard compressor.
The popular Honda Pilot midsize, three-row SUV was refreshed for 2019 with updated styling, standard Honda Sensing® suite of safety and driver assistive technologies, and major upgrades to the available connected-car technology. The innovative 2018 Ridgeline pickup truck won North American Truck of the Year for this generation’s first year in 2017 and is the only unibody midsize pickup available. Both vehicles feature Honda’s highly advanced Intelligent Variable Torque Management™ (i-VTM4™) torque-vectoring all-wheel drive system that includes Intelligent Traction Management System (ITM) modes of Normal, Snow, Mud and Sand that allows the driver to select the best all-wheel drive parameters for the environment.
The Ultimate Off-Road Challenge for Adventurous Women
When it debuted in 2016, the Rebelle Rally was the first women’s off-road navigation rally raid in the U.S. The event was created by off-road racing veteran Emily Miller to make the adventure and challenges of off-road driving more accessible to women. It is designed to blend demanding driving environments with the requirement for precise navigation to reach remote checkpoints that together create the ultimate proving ground for participants and the vehicles they drive. “I wanted to create an exciting and challenging experience for women that wasn’t branded pink,” said Miller. “I feel the Rebelle Rally does just that and serves as a badge of honor participants can be proud of.”
For More Information
For more information and high-resolution photography of all Honda vehicles, visit hondanews.com. Consumer information is available at automobiles.honda.com. To join the Honda community on Facebook, visit facebook.com/honda.
About Honda
Honda offers a full line of reliable, fuel-efficient and fun-to-drive vehicles with advanced safety technologies sold through over 1,000 independent U.S. Honda dealers. The Honda lineup includes the Fit, Civic, Insight, Accord and Clarity series passenger cars, along with the HR-V, CR-V and Pilot sport utility vehicles, the Ridgeline pickup and the Odyssey minivan.
Honda has been producing automobiles in America for more than 35 years and currently operates 19 major manufacturing facilities in North America. In 2017 more than 90 percent of all Honda brand vehicles sold in the U.S. were made in North America, using domestic and globally sourced parts.
Photo – https://mma.prnewswire.com/media/730539/American_Honda_Motor_Co_Inc_Rebelle_Rally.jpg
Logo – https://mma.prnewswire.com/media/477245/HONDALOGO_Logo.jpg
SOURCE American Honda Motor Co., Inc.
Aire Radio Networks launches the syndication of “Al Aire con El Terrible” morning show with Alberto Cortez
MIAMI, Aug. 14, 2018 /PRNewswire-HISPANIC PR WIRE/ — AIRE Radio Networks, the largest minority certified Spanish Language radio network in the country and the official radio network of Spanish Broadcasting System, Inc. (“SBS”) (OTCQB: SBSAA), announced today the launch of its syndication for the highly rated morning program “Al Aire Con El Terrible”.
“Amplifying our portfolio with compelling and engaging programming that are relatable to the lifestyle and interests of all U.S. Hispanic consumers is the core of our business,” said Elisa Torres, EVP, National and Network. “Al Aire Con El Terrible” has been a success in major Hispanic markets with dense Mexican populations. We’re excited to broaden the reach of the immersive content of the show to other communities that share the same interests.”
“Al Aire Con El Terrible” morning show can be heard on SBS owned and operated radio stations such as 97.9FM La Raza KLAX Los Angeles, 93.3FM La Raza KRZZ San Francisco/San Jose and La Ley 107.9FM WLEY Chicago. The show is continuing to expand its footprint and is available nationwide airing on stations in various cities throughout the country such as Kentucky, Memphis and Tyler amongst others.
The program, which is pioneered by one of the most influential and popular Latin radio personalities, Alberto “El Terrible” Cortez, includes a variety of segments that connect with Hispanic consumers such as community highlights, international news, celebrity gossip and jokes making it a staple within the morning drive.
“Al Aire Con El Terrible” is currently ranked in the Top 5 for HA18-49 M-F 6a-10a in Los Angeles, San Francisco and Chicago.
For all syndication inquiries and details, contact Blanca Navas, Vice President, Affiliate Sales at [email protected].
Source: Nielsen Radio, Los Angeles, San Francisco and Chicago, May 18; Metro; M-F 6a-10a
About Terry “El Terrible” Cortez
Alberto “El Terrible” Cortez has been in the entertainment business for years inspiring the U.S. Hispanic community to grow personally and professionally. Well known for speaking about topics that matter the most, even when nobody wants to talk about them, “El Terrible” thrives on bringing out the best of in his listeners. Cortez is innovating, funny and is also known for his originality. When “El Terrible” is not busy being hosting “Al Aire con El Terrible”, he enjoys spending time with his family, soccer and local wrestling.
Follow AIRE Radio Networks on Social Media:
facebook.com/AireRadioNetworks
twitter.com/AireRadioNet
www.aireradionetworks.com
http://www.spanishbroadcasting.com/brands-businesses/radio-stations/aire-network/aire-radio-networks
About Spanish Broadcasting System, Inc. and AIRE Radio Networks
Spanish Broadcasting System, Inc. is a leading Hispanic media company that owns and operates 17 radio stations located in the top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, airing the Spanish Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40 and Latin Rhythmic format genres. SBS also operates AIRE Radio Networks, a national radio platform which creates, distributes and markets leading Spanish-language radio programming to over 235 affiliated stations reaching 94% of the U.S. Hispanic audience. SBS also owns MegaTV, a television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico. SBS also produces live concerts and events and owns multiple bilingual websites, including www.LaMusica.com, an online destination and mobile app providing content related to Latin music, entertainment, news and culture. For more information, visit us online at www.spanishbroadcasting.com.
For all syndication inquiries and details AIRE Radio Networks:
Blanca Navas
Vice President, Affiliate Sales
[email protected]
Media Contact SBS/AIRE Radio Networks:
Vladimir Gomez
Vice President, Corporate Communications
[email protected]
(786) 470-1644
Photo – https://mma.prnewswire.com/media/730596/Spanish_Broadcasting_System___el___terrible.jpg
Logo – https://mma.prnewswire.com/media/460768/spanish_broadcasting_system_inc__logo.jpg
SOURCE Spanish Broadcasting System, Inc. (SBS)/ AIRE Radio Networks
(Español) Faltan muy pocos días para el inicio de la gira más esperada #DesdeElAlmaTour con el renombrado artista internacional Chayanne®
2019 Acura RDX: America’s Best-Selling Compact Luxury SUV Earns Highest Possible 2018 Safety Award from IIHS
TORRANCE, California, Aug. 14, 2018 /PRNewswire/ — The 2019 Acura RDX has earned the highest possible award and safety ratings of any vehicle in its class from the Insurance Institute for Highway Safety (IIHS). The 2019 RDX qualified for TOP SAFETY PICK+ thanks to a top rating of “GOOD” in all crashworthiness tests, standard AcuraWatch™ active safety technology that earns a superior rating, and available good-rated headlights. The all-new RDX went on-sale June 1, recording back-to-back monthly sales records in June and July to take the lead as America’s #1 retail-selling compact luxury SUV for 20181.
According to the IIHS, “The 2019 Acura RDX excelled in our six crashworthiness evaluations, including the roof strength test. Our testing apparatus applied over 21,000 lbs of force to the RDX’s roof before it crushed 5 inches. That’s more than 5 times the weight of the vehicle.”
“The 2019 Acura RDX offers the highest level of standard safety and driver-assistance features in its class, so earning class-leading safety ratings is a strong proof point of the technology and design innovation we’re bringing to the game,” said Jon Ikeda, Acura vice president & general manager.
Developed by the company’s U.S. R&D team, the 2019 RDX has the newest generation of Acura’s Advanced Compatibility Engineering™ (ACE™) body structure, new high-strength steel door stiffener rings, and for the first time, eight airbags, including new driver and front-passenger knee airbags.
Furthermore, RDX features the AcuraWatch suite of safety and driver-assisitive technologies as standard equipment, including Collision Mitigation Braking System™ (CMBS™), Adaptive Cruise Control with Low-Speed Follow, and Road Departure Mitigation. RDX also features Acura JewelEye™ LED headlights to help achieve its best-in-class ratings.
To earn the 2018 TOP SAFETY PICK+ award, a vehicle must earn good ratings in the driver-side small overlap front, moderate overlap front, side, roof strength and head restraint tests and an acceptable or good rating in the passenger-side small overlap test. It also needs available front crash prevention that earns an advanced or superior rating and available good-rated headlights. The RDX’s base headlights are rated good. The curve-adaptive headlights equipped with the Advance trim are rated acceptable.
2019 Acura RDX
Debuting the next-generation of Acura design, performance and technology, and the model’s first-ever A-Spec variant, the all-new 2019 Acura RDX went on-sale June 1 at Acura dealerships nationwide with a class-leading array of premium features and technologies and a Manufacturer’s Suggested Retail Price (MSRPi) starting at $37,300 (excluding $995 destination and handling).
The 2019 RDX is built on an all-new, Acura-exclusive body and chassis architecture and incorporates a host of new premium features and technologies, including Acura’s True Touchpad® Interface (standard), an ultra-wide panoramic moonroof (standard), Acura ELS Studio 3D™ premium audio, and next-generation Acura sport seats with up to 16-way power adjustment.
The all-new RDX is powered by a direct-injected and turbocharged 2.0-liter, 16-valve powerplant with DOHC VTEC® valvetrain mated to the segment’s only 10-speed automatic transmission (10AT). Peak output of 272 horsepower (SAE net) and 280 lb.-ft. of torque (SAE net) bests RDX’s key competitors and delivers 40 percent more low-end torque than the outgoing 3.5L V6 for powerful acceleration.
The 2019 Acura RDX is the first RDX to be designed and developed in America. Like its predecessor, the new RDX is manufactured in East Liberty, Ohio, using domestic and globally sourced parts, with the powertrain produced at the company’s plants in Ohio and Georgia.
About Acura
Acura is a leading automotive luxury nameplate that delivers Precision Crafted Performance, representing the original values of the Acura brand – a commitment to evocative styling, high performance and innovative engineering, all built on a foundation of quality and reliability.
The Acura lineup features six distinctive models – the RLX premium, luxury sedan, the TLX performance luxury sedan, the ILX sport sedan, the 5-passenger RDX luxury crossover SUV, the seven-passenger Acura MDX, America’s all-time best-selling three-row luxury SUV and the next-generation, electrified NSX supercar as a new and pinnacle expression of Acura Precision Crafted Performance.
Five of the six models in the Acura lineup are made exclusively in central Ohio using domestic and globally sourced parts, including the ILX and TLX luxury sports sedans (Marysville Auto Plant), the RDX and MDX luxury SUVs (East Liberty Auto Plant) and the Acura NSX supercar, which is built to order at the Performance Manufacturing Center in Marysville, Ohio.
For More Information
Additional media information including pricing, features and high-resolution photography is available at AcuraNews.com. Consumer information is available at Acura.com. Follow Acura on social media at Acura.us/SocialChannels.
1 Based on Urban Science retail sales data 2018CYTD July.
i Manufacturer’s Suggested Retail Price (MSRP) excluding tax, license, registration, $995 destination charge and options. Dealer prices may vary.
Photo – https://mma.prnewswire.com/media/730164/2019_Acura_RDX.jpg
Video – https://mma.prnewswire.com/media/730173/RDXCrashTest.mp4
Logo – https://mma.prnewswire.com/media/458749/acura_logo.jpg
SOURCE Acura
Miami Art Week Welcomes MUSE Modern & Contemporary Art Fair
MIAMI, Aug. 13, 2018 /PRNewswire-HISPANIC PR WIRE/ — This year, Miami Art Week welcomes an art fair with a different offering. MUSE Modern & Contemporary Art Fair is an exciting new alternative that embraces and showcases a curated selection of pieces by emerging, and established artists that speak to the plight and triumphs as experienced by people of color. MUSE is the celebration of these artists’ visual stories through various mediums. The fair will take place from December 4-9, 2018 at the Hampton Inn, located at 1700 Collins Avenue, only steps away from ArtBasel the Miami Beach Convention Center.
Throughout the years, ArtBasel Miami Beach and Miami Art Week have attracted over 100,000 global spectators annually to the stunning sand and surf on Miami Beach. MUSE will be a stylish, unique and welcoming fair that will encompass a selected cross section of artists, galleries, and collectives distributed throughout 4000 square feet of exhibition space. MUSE will feature an eclectic mix of paintings, photographs, and sculptures from Hispanic, Caribbean, and African American artists from throughout the US and abroad. Attendees will be privy to an array of artwork, installations, panels, and events that celebrate the differences and similarities among Black, multi-ethnic, and women artists.
MUSE was founded by arts champion and enthusiast Que Simmons, who was always interested in “what lies beyond the piece.” She defines art as any piece that is not only aesthetically pleasing, but also has the ability to grab your attention, spark an emotional connection, and be thought provoking. Que always wanted to focus on “artists of color” and “cultural diversity” art. From 2012 – 2015, she organized and curated the Celebrity Art Series (CAS), which took place in several notable venues in South Florida, such as LMNT, KROMA, and CocoWalk.
“We are very excited to be part of Miami Art Week this year. We will be featuring a wonderful collection of art from both emerging and established artists that represent the outstanding talent of our diverse global community,” explained Muse’s founder Que Simmons. “We also want to make sure, we offer fabulous works of art for the new and experienced collector.”
The exhibition will be open to the public daily 11-am to 8pm. For more information on MUSE and how to become involved please visit: www.museartfair.com.
SOURCE MUSE Modern and Contemporary Art Fair
McDonald’s and Franchisees Investing Approximately $186 Million in Florida To Modernize More Than 240 Local Restaurants in 2018 & 2019
MIAMI, Aug. 14, 2018 /PRNewswire-HISPANIC PR WIRE/ — Today, McDonald’s announced that the company and its franchisees are investing approximately $186 million in Florida throughout 2018 and 2019 on the construction and modernization of 240 McDonald’s restaurants, transforming the customer experience inside and outside the restaurant. In total, McDonald’s and franchisees are investing $6 billion to modernize most U.S. restaurants by 2020, including most restaurants in Florida.
With this significant construction investment, the transformed restaurants will feature:
- Modernized dining rooms with globally and locally inspired décor, new furniture and refreshed exterior designs
- Enhanced customer experience with digital self-order kiosks that make ordering and paying for a meal easier. Kiosks empower guests to browse the menu, find options and tailor their meal just the way they want.
- Remodeled counters allow for new table service that offers guests the opportunity to relax while their food is being made
- Bright and easy to read digital menu boards inside and at the drive through
- New designated parking spots for curbside pick-up through mobile order and pay
- Expanded McCafé counters and larger display cases
“This is an exciting time for McDonald’s and we’re proud to be investing nearly $186 Million to provide a new experience, look and feel for guests at 240 McDonald’s locations across Florida,” said McDonald’s Owner/Operator Anthony Lopez. “We are also pleased that our modernization supports local architecture, engineering and construction jobs across the great state of Florida.”
“McDonald’s is an important local business and provider in the community,” said Senator Travis Huston, Chairman of Regulated Industries Committee. “McDonald’s is helping create and sustain local jobs not only in the restaurant but also through its construction and modernization, and that helps support the local families they serve.”
In addition to the investments to modernize the restaurant, McDonald’s has also introduced McDelivery with Uber Eats at more than 5,000 US restaurants.
About McDonald’s USA
McDonald’s USA, LLC, serves a variety of menu options made with quality ingredients to more than 25 million customers every day. Recently the company committed $150 million over five years to extend benefits of its global Archways to Opportunity education program, announced goals to improve its packaging and have recycling in all of its restaurants by 2025 and pledged to reduce greenhouse gas emissions related to McDonald’s restaurants and offices by 36% by 2030. For more information, visit www.mcdonalds.com, or follow us on Twitter @McDonalds and Facebook www.facebook.com/mcdonaldsUS.
SOURCE McDonald’s
The Home Depot Announces Second Quarter Results; Updates Fiscal Year 2018 Guidance
ATLANTA, Aug. 14, 2018 /PRNewswire-HISPANIC PR WIRE/ — The Home Depot®, the world’s largest home improvement retailer, today reported sales of $30.5 billion for the second quarter of fiscal 2018, an 8.4 percent increase from the second quarter of fiscal 2017. Comparable sales for the second quarter of fiscal 2018 were positive 8.0 percent, and comp sales in the U.S. were positive 8.1 percent.
Net earnings for the second quarter of fiscal 2018 were $3.5 billion, or $3.05 per diluted share, compared with net earnings of $2.7 billion, or $2.25 per diluted share, in the same period of fiscal 2017. For the second quarter of fiscal 2018, diluted earnings per share increased 35.6 percent from the same period in the prior year.
“We were very pleased with our record second quarter sales and earnings. Not only did our seasonal business rebound from the first quarter, but our overall results exceeded our expectations,” said Craig Menear, chairman, CEO and president. “These results exemplify the outstanding execution of our combined team of store associates, merchants, suppliers and supply chain.”
Updated Fiscal 2018 Guidance
Based on its year-to-date performance, the Company updated its fiscal 2018 sales growth guidance and now expects sales will be up approximately 7.0 percent including the 53rd week, with comp sales growth of approximately 5.3 percent for the comparable 52-week period. The Company also raised its diluted earnings-per-share growth guidance for the year and now expects diluted earnings-per-share growth of approximately 29.2 percent from fiscal 2017 to $9.42. The Company’s diluted earnings-per-share growth guidance includes $6 billion of share repurchases for fiscal 2018.
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.
Recent Accounting Pronouncement – Revenue Recognition
During the first quarter of fiscal 2018, the Company adopted ASU No. 2014-09, which pertains to revenue recognition. The adoption of this standard will not materially impact the Company’s consolidated financial statements or related disclosures.
The Company has adopted this standard on a modified retrospective basis. In accordance therewith, financial information prior to fiscal 2018 will not be recast. The consolidated statements of earnings and balance sheet for periods and dates subsequent to fiscal 2017 reflect the effect of this accounting policy adoption.
Additional information about the impact of the adoption of ASU No. 2014-09 is available at http://ir.homedepot.com/financial-reports/quarterly-earnings/2018.
At the end of the second quarter, the Company operated a total of 2,286 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; issues related to the payment methods we accept; state of the economy; state of the residential construction, housing and home improvement markets; state of the credit markets, including mortgages, home equity loans and consumer credit; demand for credit offerings; inventory and in-stock positions; management of relationships with our 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; store openings and closures; guidance for fiscal 2018 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 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 January 28, 2018 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. |
|||||||||||||||||||||
|
Three Months Ended |
Six Months Ended |
||||||||||||||||||||
|
in millions, except per share |
July 29, |
July 30, |
% Change |
July 29, |
July 30, |
% Change |
|||||||||||||||
|
Net sales |
$ |
30,463 |
$ |
28,108 |
8.4 |
% |
$ |
55,410 |
$ |
51,995 |
6.6 |
% |
|||||||||
|
Cost of sales |
20,098 |
18,647 |
7.8 |
36,428 |
34,380 |
6.0 |
|||||||||||||||
|
Gross profit |
10,365 |
9,461 |
9.6 |
18,982 |
17,615 |
7.8 |
|||||||||||||||
|
Operating expenses: |
|||||||||||||||||||||
|
Selling, general and administrative |
5,004 |
4,549 |
10.0 |
9,783 |
8,910 |
9.8 |
|||||||||||||||
|
Depreciation and amortization |
460 |
449 |
2.4 |
917 |
893 |
2.7 |
|||||||||||||||
|
Total operating expenses |
5,464 |
4,998 |
9.3 |
10,700 |
9,803 |
9.2 |
|||||||||||||||
|
Operating income |
4,901 |
4,463 |
9.8 |
8,282 |
7,812 |
6.0 |
|||||||||||||||
|
Interest and other (income) expense: |
|||||||||||||||||||||
|
Interest and investment income |
(26) |
(16) |
62.5 |
(48) |
(29) |
65.5 |
|||||||||||||||
|
Interest expense |
272 |
265 |
2.6 |
533 |
519 |
2.7 |
|||||||||||||||
|
Interest and other, net |
246 |
249 |
(1.2) |
485 |
490 |
(1.0) |
|||||||||||||||
|
Earnings before provision for income taxes |
4,655 |
4,214 |
10.5 |
7,797 |
7,322 |
6.5 |
|||||||||||||||
|
Provision for income taxes |
1,149 |
1,542 |
(25.5) |
1,887 |
2,636 |
(28.4) |
|||||||||||||||
|
Net earnings |
$ |
3,506 |
$ |
2,672 |
31.2 |
% |
$ |
5,910 |
$ |
4,686 |
26.1 |
% |
|||||||||
|
Basic weighted average common shares |
1,144 |
1,183 |
(3.3) |
% |
1,148 |
1,191 |
(3.6) |
% |
|||||||||||||
|
Basic earnings per share |
$ |
3.06 |
$ |
2.26 |
35.4 |
$ |
5.15 |
$ |
3.93 |
31.0 |
|||||||||||
|
Diluted weighted average common shares |
1,149 |
1,189 |
(3.4) |
% |
1,154 |
1,197 |
(3.6) |
% |
|||||||||||||
|
Diluted earnings per share |
$ |
3.05 |
$ |
2.25 |
35.6 |
$ |
5.12 |
$ |
3.91 |
30.9 |
|||||||||||
|
Three Months Ended |
Six Months Ended |
||||||||||||||||||||
|
Selected Sales Data (1) |
July 29, |
July 30, |
% Change |
July 29, |
July 30, |
% Change |
|||||||||||||||
|
Customer transactions (in millions) |
455.4 |
441.8 |
3.1 |
% |
831.2 |
822.6 |
1.1 |
% |
|||||||||||||
|
Average ticket |
$ |
66.20 |
$ |
63.05 |
5.0 |
$ |
66.12 |
$ |
62.74 |
5.4 |
|||||||||||
|
Sales per square foot |
504.20 |
464.38 |
8.6 |
458.07 |
429.17 |
6.7 |
|||||||||||||||
|
————— |
|||||||||||||||||||||
|
(1) Selected Sales Data does not include results for Interline Brands, Inc., which was acquired in fiscal 2015. |
|||||||||||||||||||||
|
THE HOME DEPOT, INC. |
|||||||||||
|
in millions |
July 29, |
July 30, |
January 28, |
||||||||
|
Assets |
|||||||||||
|
Cash and cash equivalents |
$ |
3,490 |
$ |
4,830 |
$ |
3,595 |
|||||
|
Receivables, net |
2,164 |
2,187 |
1,952 |
||||||||
|
Merchandise inventories |
14,044 |
12,868 |
12,748 |
||||||||
|
Other current assets |
1,104 |
626 |
638 |
||||||||
|
Total current assets |
20,802 |
20,511 |
18,933 |
||||||||
|
Net property and equipment |
21,909 |
22,035 |
22,075 |
||||||||
|
Goodwill |
2,251 |
2,235 |
2,275 |
||||||||
|
Other assets |
1,270 |
1,178 |
1,246 |
||||||||
|
Total assets |
$ |
46,232 |
$ |
45,959 |
$ |
44,529 |
|||||
|
Liabilities and Stockholders’ Equity |
|||||||||||
|
Short-term debt |
$ |
— |
$ |
— |
$ |
1,559 |
|||||
|
Accounts payable |
9,407 |
8,541 |
7,244 |
||||||||
|
Accrued salaries and related expenses |
1,535 |
1,503 |
1,640 |
||||||||
|
Current installments of long-term debt |
2,203 |
545 |
1,202 |
||||||||
|
Other current liabilities |
5,281 |
5,234 |
4,549 |
||||||||
|
Total current liabilities |
18,426 |
15,823 |
16,194 |
||||||||
|
Long-term debt, excluding current installments |
23,295 |
24,422 |
24,267 |
||||||||
|
Other liabilities |
2,502 |
2,160 |
2,614 |
||||||||
|
Total liabilities |
44,223 |
42,405 |
43,075 |
||||||||
|
Total stockholders’ equity |
2,009 |
3,554 |
1,454 |
||||||||
|
Total liabilities and stockholders’ equity |
$ |
46,232 |
$ |
45,959 |
$ |
44,529 |
|||||
|
THE HOME DEPOT, INC. |
|||||||
|
Six Months Ended |
|||||||
|
in millions |
July 29, |
July 30, |
|||||
|
Cash Flows from Operating Activities: |
|||||||
|
Net earnings |
$ |
5,910 |
$ |
4,686 |
|||
|
Reconciliation of net earnings to net cash provided by operating activities: |
|||||||
|
Depreciation and amortization |
1,062 |
1,015 |
|||||
|
Stock-based compensation expense |
234 |
148 |
|||||
|
Changes in working capital and other, net of acquisition effects |
791 |
2,013 |
|||||
|
Net cash provided by operating activities |
7,997 |
7,862 |
|||||
|
Cash Flows from Investing Activities: |
|||||||
|
Capital expenditures, net of non-cash capital expenditures |
(1,091) |
(846) |
|||||
|
Payments for business acquired, net |
— |
(268) |
|||||
|
Proceeds from sales of property and equipment |
16 |
23 |
|||||
|
Net cash used in investing activities |
(1,075) |
(1,091) |
|||||
|
Cash Flows from Financing Activities: |
|||||||
|
Repayments of short-term debt, net |
(1,559) |
(710) |
|||||
|
Proceeds from long-term debt, net of discounts |
— |
1,994 |
|||||
|
Repayments of long-term debt |
(28) |
(21) |
|||||
|
Repurchases of common stock |
(3,121) |
(3,921) |
|||||
|
Proceeds from sales of common stock |
35 |
137 |
|||||
|
Cash dividends |
(2,373) |
(2,130) |
|||||
|
Other financing activities |
142 |
2 |
|||||
|
Net cash used in financing activities |
(6,904) |
(4,649) |
|||||
|
Change in cash and cash equivalents |
18 |
2,122 |
|||||
|
Effect of exchange rate changes on cash and cash equivalents |
(123) |
170 |
|||||
|
Cash and cash equivalents at beginning of period |
3,595 |
2,538 |
|||||
|
Cash and cash equivalents at end of period |
$ |
3,490 |
$ |
4,830 |
|||
|
THE HOME DEPOT, INC. |
|||||||||||||||
|
The Company adopted ASU No. 2014-09, which pertains to revenue recognition, in the first quarter of fiscal 2018. The following table shows the impact of adopting ASU No. 2014-09 on the consolidated statement of earnings for the three and six month periods ended July 29, 2018. The implementation of this accounting standard resulted in an increase in net sales, gross profit, selling, general and administrative, and total operating expenses and a decrease in cost of sales. There was no impact on operating income, net earnings, or earnings per share. |
|||||||||||||||
|
Three Months Ended July 29, 2018 |
|||||||||||||||
|
in millions |
As |
% of Net Sales |
ASU No. 2014-09 |
Excluding |
% of Net Sales |
||||||||||
|
Net sales |
$ |
30,463 |
100.0 |
% |
$ |
33 |
$ |
30,430 |
100.0 |
% |
|||||
|
Cost of sales |
20,098 |
66.0 |
(119) |
20,217 |
66.4 |
||||||||||
|
Gross profit |
10,365 |
34.0 |
152 |
10,213 |
33.6 |
||||||||||
|
Selling, general and |
5,004 |
16.4 |
152 |
4,852 |
15.9 |
||||||||||
|
Total operating expenses |
5,464 |
17.9 |
152 |
5,312 |
17.5 |
||||||||||
|
Six Months Ended July 29, 2018 |
|||||||||||||||
|
in millions |
As |
% of Net Sales |
ASU No. 2014-09 |
Excluding |
% of Net Sales |
||||||||||
|
Net sales |
$ |
55,410 |
100.0 |
% |
$ |
66 |
$ |
55,344 |
100.0 |
% |
|||||
|
Cost of sales |
36,428 |
65.7 |
(217) |
36,645 |
66.2 |
||||||||||
|
Gross profit |
18,982 |
34.3 |
283 |
18,699 |
33.8 |
||||||||||
|
Selling, general and |
9,783 |
17.7 |
283 |
9,500 |
17.2 |
||||||||||
|
Total operating expenses |
10,700 |
19.3 |
283 |
10,417 |
18.8 |
||||||||||
|
THE HOME DEPOT, INC. |
|||||||||||
|
The Company adopted ASU No. 2014-09, which pertains to revenue recognition, in the first quarter of fiscal 2018. The following table shows the impact of adopting ASU No. 2014-09 on the consolidated balance sheet as of July 29, 2018. |
|||||||||||
|
July 29, 2018 |
|||||||||||
|
in millions |
As Reported |
ASU No. 2014-09 |
Excluding |
||||||||
|
Assets |
|||||||||||
|
Receivables, net |
$ |
2,164 |
$ |
(46) |
$ |
2,210 |
|||||
|
Other current assets |
1,104 |
272 |
832 |
||||||||
|
Total current assets |
20,802 |
226 |
20,576 |
||||||||
|
Total assets |
46,232 |
226 |
46,006 |
||||||||
|
Liabilities and Stockholders’ Equity |
|||||||||||
|
Other current liabilities |
$ |
5,281 |
$ |
127 |
$ |
5,154 |
|||||
|
Total current liabilities |
18,426 |
127 |
18,299 |
||||||||
|
Other liabilities |
2,502 |
24 |
2,478 |
||||||||
|
Total liabilities |
44,223 |
151 |
44,072 |
||||||||
|
Total stockholders’ equity |
2,009 |
75 |
1,934 |
||||||||
|
Total liabilities and stockholders’ equity |
46,232 |
226 |
46,006 |
||||||||
|
THE HOME DEPOT, INC. |
|||||||||||||||
|
The Company adopted ASU No. 2014-09, which pertains to revenue recognition, in the first quarter of fiscal 2018 using the modified retrospective method. In accordance therewith, financial information prior to fiscal 2018 will not be recast as the modified retrospective method does not permit recasting pre-adoption financial information. The following tables present selected as-reported financial results and the pro forma effect of ASU No. 2014-09 as if the recognition and presentation guidance in the accounting standard had been applied in fiscal 2017. There was no impact on operating income, net earnings, or earnings per share. The fiscal 2017 pro forma financial information included in the tables below is presented for informational purposes only. |
|||||||||||||||
|
Three Months Ended April 30, 2017 |
|||||||||||||||
|
in millions |
As |
% of Net Sales |
ASU No. 2014-09 |
Including |
% of Net Sales |
||||||||||
|
Net sales |
$ |
23,887 |
100.0 |
% |
$ |
48 |
$ |
23,935 |
100.0 |
% |
|||||
|
Cost of sales |
15,733 |
65.9 |
(90) |
15,643 |
65.4 |
||||||||||
|
Gross profit |
8,154 |
34.1 |
138 |
8,292 |
34.6 |
||||||||||
|
Selling, general and administrative |
4,361 |
18.3 |
138 |
4,499 |
18.8 |
||||||||||
|
Total operating expenses |
4,805 |
20.1 |
138 |
4,943 |
20.7 |
||||||||||
|
Three Months Ended July 30, 2017 |
|||||||||||||||
|
in millions |
As |
% of Net Sales |
ASU No. 2014-09 |
Including |
% of Net Sales |
||||||||||
|
Net sales |
$ |
28,108 |
100.0 |
% |
$ |
33 |
$ |
28,141 |
100.0 |
% |
|||||
|
Cost of sales |
18,647 |
66.3 |
(114) |
18,533 |
65.9 |
||||||||||
|
Gross profit |
9,461 |
33.7 |
147 |
9,608 |
34.1 |
||||||||||
|
Selling, general and administrative |
4,549 |
16.2 |
147 |
4,696 |
16.7 |
||||||||||
|
Total operating expenses |
4,998 |
17.8 |
147 |
5,145 |
18.3 |
||||||||||
|
Three Months Ended October 29, 2017 |
|||||||||||||||
|
in millions |
As |
% of Net Sales |
ASU No. 2014-09 |
Including |
% of Net Sales |
||||||||||
|
Net sales |
$ |
25,026 |
100.0 |
% |
$ |
44 |
$ |
25,070 |
100.0 |
% |
|||||
|
Cost of sales |
16,378 |
65.4 |
(85) |
16,293 |
65.0 |
||||||||||
|
Gross profit |
8,648 |
34.6 |
129 |
8,777 |
35.0 |
||||||||||
|
Selling, general and administrative |
4,514 |
18.0 |
129 |
4,643 |
18.5 |
||||||||||
|
Total operating expenses |
4,968 |
19.9 |
129 |
5,097 |
20.3 |
||||||||||
|
Three Months Ended January 28, 2018 |
|||||||||||||||
|
in millions |
As |
% of Net Sales |
ASU No. 2014-09 |
Including |
% of Net Sales |
||||||||||
|
Net sales |
$ |
23,883 |
100.0 |
% |
$ |
41 |
$ |
23,924 |
100.0 |
% |
|||||
|
Cost of sales |
15,790 |
66.1 |
(85) |
15,705 |
65.6 |
||||||||||
|
Gross profit |
8,093 |
33.9 |
126 |
8,219 |
34.4 |
||||||||||
|
Selling, general and administrative |
4,440 |
18.6 |
126 |
4,566 |
19.1 |
||||||||||
|
Total operating expenses |
4,904 |
20.5 |
126 |
5,030 |
21.0 |
||||||||||
|
Fiscal Year Ended January 28, 2018 |
|||||||||||||||
|
in millions |
As |
% of Net Sales |
ASU No. 2014-09 |
Including |
% of Net Sales |
||||||||||
|
Net sales |
$ |
100,904 |
100.0 |
% |
$ |
166 |
$ |
101,070 |
100.0 |
% |
|||||
|
Cost of sales |
66,548 |
66.0 |
(374) |
66,174 |
65.5 |
||||||||||
|
Gross profit |
34,356 |
34.0 |
540 |
34,896 |
34.5 |
||||||||||
|
Selling, general and administrative |
17,864 |
17.7 |
540 |
18,404 |
18.2 |
||||||||||
|
Total operating expenses |
19,675 |
19.5 |
540 |
20,215 |
20.0 |
||||||||||
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SOURCE The Home Depot