The Home Depot Announces Second Quarter Results; Updates Fiscal Year 2014 Guidance
The Home Depot Announces Second Quarter Results; Updates Fiscal Year 2014 Guidance
ATLANTA, Aug. 19, 2014 /PRNewswire-HISPANIC PR WIRE/ — The Home Depot®, the world’s largest home improvement retailer, today reported sales of $23.8 billion for the second quarter of fiscal 2014, a 5.7 percent increase from the second quarter of fiscal 2013. Comparable store sales for the second quarter of fiscal 2014 were positive 5.8 percent, and comp sales for U.S. stores were positive 6.4 percent.
Net earnings for the second quarter were $2.1 billion, or $1.52 per diluted share, compared with net earnings of $1.8 billion, or $1.24 per diluted share, in the same period of fiscal 2013. For the second quarter of fiscal 2014, diluted earnings per share increased 22.6 percent from the same period in the prior year.
“In the second quarter, our spring seasonal business rebounded, and we saw strong performance in the core of the store and across all of our geographies,” said Frank Blake, chairman and CEO. “I would like to thank our associates for their hard work and dedication, especially at this time of increased demand.”
Updated Fiscal 2014 Guidance
The Company confirmed that it expects fiscal 2014 sales will be up approximately 4.8 percent from fiscal 2013. Based on its second quarter performance and its outlook for the year, the Company raised its fiscal 2014 diluted earnings-per-share guidance and now expects diluted earnings per share to be up approximately 20.2 percent to $4.52 for the year. This earnings-per-share guidance includes the benefit of the Company’s year-to-date share repurchases of $3.5 billion and the Company’s intent to repurchase an additional $3.5 billion of shares over the remainder of the year.
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 earnings.homedepot.com.
At the end of the second quarter, the Company operated a total of 2,264 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 300,000 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 store sales; effects of competition; 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; inventory and in-stock positions; implementation of store, interconnected retail and supply chain initiatives; 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 effect of accounting charges; the effect of adopting certain accounting standards; store openings and closures; guidance for fiscal 2014 and beyond; and financial outlook. 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 February 2, 2014 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. AND SUBSIDIARIES |
|||||||||||||||||||||
|
CONSOLIDATED STATEMENTS OF EARNINGS |
|||||||||||||||||||||
|
FOR THE THREE AND SIX MONTHS ENDED AUGUST 3, 2014 AND AUGUST 4, 2013 |
|||||||||||||||||||||
|
(Unaudited) |
|||||||||||||||||||||
|
(Amounts in Millions Except Per Share Data and as Otherwise Noted) |
|||||||||||||||||||||
|
Three Months Ended |
Six Months Ended |
||||||||||||||||||||
|
August 3, |
August 4, |
% Increase (Decrease) |
August 3, 2014 |
August 4, 2013 |
% Increase |
||||||||||||||||
|
NET SALES |
$ |
23,811 |
$ |
22,522 |
5.7 |
% |
$ |
43,498 |
$ |
41,646 |
4.4 |
% |
|||||||||
|
Cost of Sales |
15,650 |
14,801 |
5.7 |
28,452 |
27,246 |
4.4 |
|||||||||||||||
|
GROSS PROFIT |
8,161 |
7,721 |
5.7 |
15,046 |
14,400 |
4.5 |
|||||||||||||||
|
Operating Expenses: |
|||||||||||||||||||||
|
Selling, General and Administrative |
4,298 |
4,294 |
0.1 |
8,492 |
8,477 |
0.2 |
|||||||||||||||
|
Depreciation and Amortization |
415 |
409 |
1.5 |
829 |
811 |
2.2 |
|||||||||||||||
|
Total Operating Expenses |
4,713 |
4,703 |
0.2 |
9,321 |
9,288 |
0.4 |
|||||||||||||||
|
OPERATING INCOME |
3,448 |
3,018 |
14.2 |
5,725 |
5,112 |
12.0 |
|||||||||||||||
|
Interest and Other (Income) Expense: |
|||||||||||||||||||||
|
Interest and Investment Income |
(17) |
(2) |
N/M |
(117) |
(5) |
N/M |
|||||||||||||||
|
Interest Expense |
208 |
174 |
19.5 |
399 |
338 |
18.0 |
|||||||||||||||
|
Interest and Other, net |
191 |
172 |
11.0 |
282 |
333 |
(15.3) |
|||||||||||||||
|
EARNINGS BEFORE PROVISION FOR INCOME TAXES |
3,257 |
2,846 |
14.4 |
5,443 |
4,779 |
13.9 |
|||||||||||||||
|
Provision for Income Taxes |
1,207 |
1,051 |
14.8 |
2,014 |
1,758 |
14.6 |
|||||||||||||||
|
NET EARNINGS |
$ |
2,050 |
$ |
1,795 |
14.2 |
% |
$ |
3,429 |
$ |
3,021 |
13.5 |
% |
|||||||||
|
Weighted Average Common Shares |
1,346 |
1,434 |
(6.1) |
% |
1,358 |
1,452 |
(6.5) |
% |
|||||||||||||
|
BASIC EARNINGS PER SHARE |
$ |
1.52 |
$ |
1.25 |
21.6 |
$ |
2.53 |
$ |
2.08 |
21.6 |
|||||||||||
|
Diluted Weighted Average Common Shares |
1,353 |
1,443 |
(6.2) |
% |
1,365 |
1,462 |
(6.6) |
% |
|||||||||||||
|
DILUTED EARNINGS PER SHARE |
$ |
1.52 |
$ |
1.24 |
22.6 |
$ |
2.51 |
$ |
2.07 |
21.3 |
|||||||||||
|
Three Months Ended |
Six Months Ended |
||||||||||||||||||||
|
SELECTED HIGHLIGHTS |
August 3, |
August 4, |
% Increase (Decrease) |
August 3, 2014 |
August 4, 2013 |
% Increase (Decrease) |
|||||||||||||||
|
Number of Customer Transactions |
409.7 |
393.2 |
4.2 |
% |
754.2 |
730.3 |
3.3 |
% |
|||||||||||||
|
Average Ticket (actual) |
$ |
58.43 |
$ |
57.39 |
1.8 |
$ |
58.05 |
$ |
57.32 |
1.3 |
|||||||||||
|
Sales per Square Foot (actual) |
$ |
403.90 |
$ |
382.99 |
5.5 |
$ |
368.92 |
$ |
355.56 |
3.8 |
|||||||||||
N/M – Not Meaningful
|
THE HOME DEPOT, INC. AND SUBSIDIARIES |
|||||||||||
|
CONSOLIDATED BALANCE SHEETS |
|||||||||||
|
AS OF AUGUST 3, 2014, AUGUST 4, 2013 AND FEBRUARY 2, 2014 |
|||||||||||
|
(Unaudited) |
|||||||||||
|
(Amounts in Millions) |
|||||||||||
|
August 3, |
August 4, |
February 2, |
|||||||||
|
ASSETS |
|||||||||||
|
Cash and Cash Equivalents |
$ |
4,216 |
$ |
3,419 |
$ |
1,929 |
|||||
|
Receivables, net |
1,637 |
1,542 |
1,398 |
||||||||
|
Merchandise Inventories |
11,665 |
11,086 |
11,057 |
||||||||
|
Other Current Assets |
973 |
848 |
895 |
||||||||
|
Total Current Assets |
18,491 |
16,895 |
15,279 |
||||||||
|
Property and Equipment, net |
23,126 |
23,650 |
23,348 |
||||||||
|
Goodwill |
1,295 |
1,170 |
1,289 |
||||||||
|
Other Assets |
567 |
477 |
602 |
||||||||
|
TOTAL ASSETS |
$ |
43,479 |
$ |
42,192 |
$ |
40,518 |
|||||
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|||||||||||
|
Accounts Payable |
$ |
7,165 |
$ |
6,585 |
$ |
5,797 |
|||||
|
Accrued Salaries and Related Expenses |
1,325 |
1,423 |
1,428 |
||||||||
|
Current Installments of Long-Term Debt |
34 |
1,308 |
33 |
||||||||
|
Other Current Liabilities |
4,315 |
3,679 |
3,491 |
||||||||
|
Total Current Liabilities |
12,839 |
12,995 |
10,749 |
||||||||
|
Long-Term Debt, excluding current installments |
16,702 |
11,450 |
14,691 |
||||||||
|
Other Long-Term Liabilities |
2,481 |
2,269 |
2,556 |
||||||||
|
Total Liabilities |
32,022 |
26,714 |
27,996 |
||||||||
|
Total Stockholders’ Equity |
11,457 |
15,478 |
12,522 |
||||||||
|
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |
$ |
43,479 |
$ |
42,192 |
$ |
40,518 |
|||||
|
THE HOME DEPOT, INC. AND SUBSIDIARIES |
|||||||
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
|||||||
|
FOR THE SIX MONTHS ENDED AUGUST 3, 2014 AND AUGUST 4, 2013 |
|||||||
|
(Unaudited) |
|||||||
|
(Amounts in Millions) |
|||||||
|
Six Months Ended |
|||||||
|
August 3, |
August 4, |
||||||
|
CASH FLOWS FROM OPERATING ACTIVITIES: |
|||||||
|
Net Earnings |
$ |
3,429 |
$ |
3,021 |
|||
|
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities: |
|||||||
|
Depreciation and Amortization |
896 |
877 |
|||||
|
Stock-Based Compensation Expense |
119 |
116 |
|||||
|
Changes in Working Capital and Other |
953 |
704 |
|||||
|
Net Cash Provided by Operating Activities |
5,397 |
4,718 |
|||||
|
CASH FLOWS FROM INVESTING ACTIVITIES: |
|||||||
|
Capital Expenditures |
(631) |
(599) |
|||||
|
Payments for Business Acquired, net |
— |
(13) |
|||||
|
Proceeds from Sales of Property and Equipment |
16 |
16 |
|||||
|
Net Cash Used in Investing Activities |
(615) |
(596) |
|||||
|
CASH FLOWS FROM FINANCING ACTIVITIES: |
|||||||
|
Proceeds from Long-Term Borrowings, net of discount |
1,981 |
1,994 |
|||||
|
Repayments of Long-Term Debt |
(21) |
(17) |
|||||
|
Repurchases of Common Stock |
(3,500) |
(4,346) |
|||||
|
Proceeds from Sales of Common Stock |
148 |
150 |
|||||
|
Cash Dividends Paid to Stockholders |
(1,285) |
(1,143) |
|||||
|
Other Financing Activities |
181 |
154 |
|||||
|
Net Cash Used in Financing Activities |
(2,496) |
(3,208) |
|||||
|
Change in Cash and Cash Equivalents
|
2,286 |
914 |
|||||
|
Effect of Exchange Rate Changes on Cash and Cash Equivalents |
1 |
11 |
|||||
|
Cash and Cash Equivalents at Beginning of Period |
1,929 |
2,494 |
|||||
|
Cash and Cash Equivalents at End of Period |
$ |
4,216 |
$ |
3,419 |
|||
Logo – http://photos.prnewswire.com/prnh/20030502/HOMEDEPOTLOGO
California Dairy Families Support Kids with Statewide Physical Activity and Nutrition Program in California Schools
California Dairy Families Support Kids with Statewide Physical Activity and Nutrition Program in California Schools
State’s dairy producers activate Fuel Up to Play 60 with up to $200,000 in grant
funding for California schools
SOUTH SAN FRANCISCO, Calif. and MODESTO, Calif., Aug. 19, 2014 /PRNewswire-HISPANIC PR WIRE/ — The California Milk Advisory Board (CMAB), representing California’s more than 1,500 dairy families, today announced their activation of Fuel Up to Play 60 (FUTP 60) in California for the 2014-2015 school year. Fuel Up to Play 60 is an in-school physical activity and nutrition program created by the National Dairy Council in collaboration with the National Football League. The program encourages youth to consume low-fat and fat-free dairy products, fruits, vegetables, lean meats and whole grains while achieving at least 60 minutes of physical activity every day.
Photo – http://photos.prnewswire.com/prnh/20140818/137141
Photo – http://photos.prnewswire.com/prnh/20140818/137142
“We know that children need a well-rounded and nutritious diet, and one that includes dairy, to make sure that they are fueled up for optimal learning and to sustain them through at least 60 minutes of physical activity per school day,” said Jennifer Giambroni, Director of Communications for the CMAB. “This is just one of the reasons we are excited to partner with FUTP 60. Through this program, California dairy families are helping schools and students gain access to resources that will help make children healthier, more active and create good habits for life.”
Since its launch, FUTP 60 has helped to make wellness part of the game plan in nearly 73,000 schools across the country. Qualifying California schools participating in FUTP 60 may be eligible for up to $4,000 for the 2014-2015 school year to help support their health and wellness programs. This competitive program is designed to support schools that implement plays from the 2014-2015 edition of the Fuel Up to Play 60 Playbook. These plays can range from creating a healthy breakfast program in a school to coordinating the 100 Mile Club, which challenges students to walk, jog or run 100 miles at school in a single school year to improve their health and well-being.
With students spending approximately 180 days in school each year and with many students receiving both breakfast and lunch at school, school can be a place where healthy habits can be taught and encouraged. Each FUTP 60 play is designed to complement current fitness and wellness initiatives within schools. In addition, each play advocates for a healthy school community and supports students’ needs to obtain an overall healthier lifestyle one that focuses on positive nutrition and physical activity.
In addition to being eligible for up to $4,000 in grant funding at the school level, qualifying California schools, teachers, students, districts also have opportunities to win prizes including tickets to a major division football game, autographed football jerseys, mini footballs, helmets and other FUTP 60 gear.
For schools interested in participating in FUTP 60, applications will be available online beginning August 26, 2014 and must be received by November 5, 2014. For more information on Fuel Up to Play 60 and to sign up an eligible school, please visit FuelUpToPlay60.com.
About the California Milk Advisory Board
The California Milk Advisory Board (CMAB), an instrumentality of the California Department of Food and Agriculture, is funded by the state’s more than 1,500 dairy families. With headquarters in South San Francisco and Modesto, the CMAB is one of the largest commodity boards in the United States. The CMAB executes advertising, public relations, research and retail and foodservice promotional programs on behalf of California dairy products, including Real California Milk and Real California Cheese. For more information and to connect with the CMAB through social media, visit RealCaliforniaMilk.com, like at Facebook.com/RealCaliforniaMilk, view videos at YouTube.com/RealCaliforniaMilk, follow at Twitter.com/RealCalifMilk and Instagram.com/RealCalifMilk and pin at Pinterest.com/RealCalifMilk
About Fuel Up to Play 60
Fuel Up to Play 60 is an in-school nutrition and physical activity program launched by the National Dairy Council (NDC) and the NFL, in collaboration with United States Department of Agriculture (USDA). The program encourages youth to consume nutrient-rich foods (low-fat and fat-free dairy, fruits, vegetables and whole grains) and achieve 60 minutes of physical activity every day.
Fuel Up to Play 60 is designed to engage and empower youth to take action for their own health by implementing long-term, positive changes for themselves and their schools. Customizable and non-prescriptive program components are grounded in research with youth, including tools and resources, in-school promotional materials, a website and student challenges. Fuel Up to Play 60 is further supported by several health and nutrition organizations: Action for Healthy Kids, American Academy of Family Physicians, American Academy of Pediatrics, American Dietetic Association, National Hispanic Medical Association, National Medical Association and School Nutrition Association. Visit www.FuelUpToPlay60.com to learn more.
Seaborne Airlines Makes Traveling Throughout the Caribbean Easier
Seaborne Airlines Makes Traveling Throughout the Caribbean Easier
SAN JUAN, Puerto Rico, Aug. 18, 2014 /PRNewswire/ — Now, it will be easier than ever to make your dream of traveling the Caribbean come true. Seaborne Airlines, the fastest growing airline in the Caribbean, announced that they will be launching the “Fly Anywhere you like for as many times as you like” promotion for $699*. This promotion offers a customer the option to book as many trips as they like, to travel as often as they like, between September 3rd, 2014 and November 17th, 2014. To take advantage of this unprecedented offer, customers must call Reservations to book or to even buy the offer for another individual as a sweet gift **.
“We wanted to give our customers an excuse to see the beauty of the Caribbean by taking multiple trips for one low price. With just two trips, this can pay for itself. Whether to sightsee or visit friends and relatives, we hope that many will experience Seaborne’s exemplary service under this promotion.” said Gary D. Foss, president and chief executive officer of Seaborne Airlines.
Reservations can be made by calling: 1-866-359-8784 or 787-946-7800.
With service to 15 airports throughout the Caribbean; connecting service to American, Jet Blue and Delta at San Juan, Puerto Rico; two pilots on every flight; a flight attendant on our new Saab 340 aircraft and the outstanding dependability, Seaborne is becoming the preferred regional airline in the Caribbean.
*Taxes / fees still apply per booking. Certain conditions and restrictions may apply. Passenger cannot have more than two (2) outstanding reservations at a time.
** Must have passport information for international bookings.
About Seaborne Airlines
Seaborne Airlines has been operating in the Caribbean for over 21 years, carrying over two and a half million customers safely. Seaborne operates over 2,100 monthly departures throughout the Caribbean to San Juan, St. Thomas, St. Thomas Seaplane, St. Croix, St. Croix Seaplane, Dominica, Fort de France, Martinique, Point a Pitre, Guadeloupe, La Romana, DR, Punta Cana, DR, Santo Domingo, DR, St. Maarten, St. Kitts and Nevis
Child Nutrition Programs for the New School Year
Child Nutrition Programs for the New School Year
The government provides children with meals that meet nutritional standards
WASHINGTON, Aug. 18, 2014 /PRNewswire-HISPANIC PR WIRE/ — Healthy eating habits and a nutritious diet can help children do better in school.
The federal government provides free or low-cost Child Nutrition Programs in more than 100,000 public schools, nonprofit private schools, kindergartens and preschools.
These programs, provided by the United States Department of Agriculture’s (USDA) Food and Nutrition Service, are aimed at school-aged children from low-income families.
- National School Breakfast and Lunch Program
Through this program children may receive breakfast and lunch for free or at a reduced cost. The price you pay for meals depends on which state you live in and your income level.
If your children attend a school that’s enrolled in the National School Lunch Program, they are eligible to receive breakfast and lunch daily throughout the academic year.
Note: Some schools also provide free snacks to children who attend certain after-school programs.
Program features
- It’s available for children and students under 18.
- It’s offered throughout the school year at public schools, nonprofit private schools, and preschools.
- The breakfast and lunch menu is the same for every student.
- Everyone receives equal portions that meet USDA nutritional requirements.
How to enroll
Contact or visit your child’s school to find out about the program requirements and application process. Enrollment procedures may vary depending on the school.
2. Special Milk Program
Milk is provided free or at a reduced cost to children who are not already enrolled in any other USDA program. The price of milk depends on which state you live in and your income level.
Program features
- Milk is available throughout the year at schools, nurseries, half-day pre-kindergartens and kindergartens.
- The milk contains vitamins A and D, is low in fat and meets the standards of the USDA.
- Every student receives the same kind of milk and quantity, one cup or 1/4-liter.
How to enroll
To participate in the Special Milk Program, contact or visit your child’s school and ask about the program requirements and application process.
Contact your USDA state agency for more information about child nutrition programs.
To learn more about nutritional issues, see USA.gov and GobiernoUSA.gov, the U.S. Government’s official web portals in English and Spanish, and part of the U.S. General Services Administration (GSA).
Special Mascot Moment: Chevrolet Surprises 11 Children from Around the World to Kick Off Manchester United’s Season
Special Mascot Moment: Chevrolet Surprises 11 Children from Around the World to Kick Off Manchester United’s Season
MANCHESTER, England, Aug. 16, 2014 /PRNewswire-HISPANIC PR WIRE/ —
- Manchester United first team players wear name of their mascot on back of their shirt upon entering pitch
- Just before start of match, players present the shirts as memento to mascots
- Mascots are from seven countries: Brazil, China, India, Indonesia, South Africa, South Korea and United States
Chevrolet today added to the anticipation of Manchester United’s Premier League season-opener by using the power of play to give 11 children from around the world a first-ever, once-in-a-lifetime experience.
The global automotive brand surprised everyone by partnering with the club to have each first team player walk onto the pitch wearing a shirt with the name of their mascot on the back. Then just before the start of the match, the players presented the shirts as gifts to them.
“We brought 11 children from around the world to Manchester to let them experience first-hand how the power of play can create hope, optimism and possibilities not just inside Old Trafford, but back in their communities as well,” said Tim Mahoney, chief marketing officer, Global Chevrolet. “Chevrolet’s partnership with Manchester United is about using the passion for this sport to make a positive impact around the world and inspire football fans everywhere.”
“Seeing the reactions to today’s historical moment from the mascots, players and fans was a perfect way to kick off Chevrolet’s first season as Manchester United’s shirt sponsor. When it comes to bringing people closer to the sport, today we raised the bar,” Mahoney added.
The children were selected to serve as mascots due in part to their love of the game, determination to overcome a variety of challenges, and use of play to realize anything is possible. The opportunity to be a mascot is part of Chevrolet’s “What Do You #PlayFor?” campaign to bring football fans closer to the sport and spread the power of play around the world. The children’s stories are featured at www.ChevroletFC.com.
“It was a pleasure to welcome all 11 mascots to Old Trafford and our players were proud to walk out onto the pitch with them today,” Manchester United Group Managing Director, Richard Arnold said. “In the two years since announcing its partnership with Manchester United, Chevrolet has embraced the club’s desire to connect with its 659 million global followers, coming up with new and exciting ways to do this. Today’s activity demonstrates their ingenuity at doing this and we helped capture the imagination of our fans around the world.”
The Manchester United first team players and mascot pairings were:
|
Manchester United Player |
Mascot |
|
Ashley Young |
Naely / Brazil |
|
Javier Hernandez |
Anna / China |
|
Phil Jones |
Yan Yi / China |
|
Chris Smalling |
Akash / India |
|
Darren Fletcher |
Kshitij / India |
|
Juan Mata |
Fergie / Indonesia |
|
Ander Herrera |
Syffia / Indonesia |
|
Wayne Rooney |
Mfanelo / South Africa |
|
Tyler Blackett |
Nokuthula / South Africa |
|
Jesse Lingard |
Daeyoung / South Korea |
|
David De Gea |
Jasmine / United States |
In addition to serving as mascots on Saturday, the children this week attended Manchester United’s famed Soccer School, met club legends, received a tour of Old Trafford, and more.
Since first announcing its partnership with Manchester United in 2012, Chevrolet has used football to spread the power of play worldwide, including donating close to 1 million nearly indestructible balls from the One World Futbol Project for use by more than 26 million youth in 60-plus countries in Africa, Asia, and the Americas. Chevrolet also recently revitalized a pitch in Bandung, Indonesia, on behalf of a local organization that uses soccer to increase the quality of life for people living with HIV and drug addiction, and Chevrolet donated a pop‑up pitch and pickup truck and trailer to help transform gang-laden streets in Chicago into a place where children can play and learn life skills.
To celebrate its new, seven-year Manchester United shirt sponsorship, Chevrolet is inviting fans around the world to upload photos of themselves wearing a digital version of the new shirt at www.ChevroletFC.com. Chevrolet also recently released a video on www.ChevroletFC.com featuring Manchester United players, legends and fans paying homage to the history of the club’s shirts that has attracted more than 10 million views.
About Chevrolet
Founded in 1911 in Detroit, Chevrolet is now one of the world’s largest car brands, doing business in more than 140 countries and selling more than 4.9 million cars and trucks a year. Chevrolet provides customers with fuel-efficient vehicles that feature spirited performance, expressive design, and high quality. More information on Chevrolet models can be found at www.chevrolet.com.
About Manchester United
Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth. Through our 136-year heritage we have won 62 trophies, enabling us to develop the world’s leading sports brand and a global community of 659 million followers. Our large, passionate community provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, new media & mobile, broadcasting and match day.
Constellation Brands Beer Division Voluntarily Recalls Select Packages Of 12 oz. Corona Extra
CHICAGO, Aug. 15, 2014 /PRNewswire-HISPANIC PR WIRE/ — Constellation Brands Beer Division today announced a voluntary recall of select packages in the U.S. containing 12-ounce clear glass bottles of its Corona Extra beer that may contain small particles of glass. The voluntary recall covers 12-ounce clear bottles in select six-pack, 12-pack and 18-pack packages containing bottles with the production codes listed below.
This recall comes after routine inspections in the company's quality control laboratory detected defects in certain bottles that could cause small particles of glass to break off and fall into the bottle. The affected bottles came from one of four glass plants run by a third party manufacturer, which supplies the company the bottles. While the company believes that less than 1 percent of the bottles produced from the plant may be affected, it is recalling select packages that may contain defective bottles to ensure the safety of consumers.
To date the company has received no reports of injuries resulting from the affected bottles.
The following products are not being recalled:
Corona Extra cans
Corona Extra 24-pack loose bottles
Corona Extra 24 oz. bottle
Corona Extra draft beer
Corona Light bottles
Corona Light cans
Corona Light draft beer
Corona Familiar
Coronitas
"We are troubled by this development and are working proactively with our distributors, retailers and consumers to resolve this situation as quickly as possible," said Bill Hackett, President of Constellation Brands Beer Division. "Throughout its history, Corona Extra is a brand that has been synonymous with quality, consistency and refreshment. Our entire organization, including our brewers, our production team, and all our employees across our system, is absolutely committed to doing everything possible to complete this recall quickly, and ensure the safety of our consumers and integrity of our product."
Upon discovering the issue, Constellation took prompt action to identify and secure potentially affected product and will work closely with distributors and retailers to minimize the impact on consumers. The company is diligently working to
recover potentially affected product that is in retail stores and may have reached consumers.
Consumers who have bottles marked with the production codes below can visit http://www.coronausa.com/recall or call 1-866-204-9407 for instructions on reimbursement.
About Constellation Brands Beer Division
Constellation Brands Beer Division is the #3 beer company in the U.S. and the exclusive brewer, marketer and supplier of a growing portfolio of high-end, iconic, imported beer brands for the U.S. market. The portfolio includes Corona Extra (the #1 imported beer in the U.S. and #5 beer overall), Corona Light, Modelo Especial, Negra Modelo, Pacifico and Victoria beer brands. The Beer Division also imports the Tsingtao beer brand in the U.S. For more information, visit www.cbrands.com.
Affected Production Codes:
|
Production Codes for Affected Packages |
|||
|
6-Packs |
12-Packs |
12-Packs |
18-Packs |
|
G014C059 |
G024B069 |
G214C069 |
F294A049 |
|
G024C059 |
G034C069 |
G244B069 |
|
|
G064A059 |
G044C069 |
G244C069 |
|
|
G064C059 |
G054B049 |
G254C069 |
|
|
G074B059 |
G054C069 |
G264C069 |
|
|
G104A049 |
G064C049 |
G274C069 |
|
|
G104C049 |
G074B049 |
G294B069 |
|
|
G114C049 |
G084B049 |
G304B069 |
|
|
G124C049 |
G084C069 |
||
|
G134C049 |
G094B049 |
||
|
G144C049 |
G094B069 |
||
|
G154C049 |
G104A069 |
||
|
G164C049 |
G104C069 |
||
|
G244C049 |
G114C069 |
||
|
G254A049 |
G124C069 |
||
|
G264A049 |
G164A069 |
||
|
G274A049 |
G174B069 |
||
|
G304C059 |
G184B069 |
||
Logo – http://photos.prnewswire.com/prnh/20140816/136719
Photo – http://photos.prnewswire.com/prnh/20140816/136717
Youth for Justice Summer Academy Wraps-Up In San Rafael’s Canal Neighborhood
SAN RAFAEL, Calif., Aug. 15, 2014 /PRNewswire-HISPANIC PR WIRE/ — The 2nd annual Youth for Justice Summer Academy, funded by Alcohol Justice, the San Rafael Alcohol and Drug Coalition, and the Marin County Probation Department, ended with a celebration and awards presentation Friday evening. Youth, adults, and community organization members gathered at the offices of Alcohol Justice in the Canal neighborhood of San Rafael to joyfully share experiences and acknowledge new skills learned over the past two months.
Logo – http://photos.prnewswire.com/prnh/20110727/DC41105LOGO
“Our Youth for Justice Summer Academy is a powerful tool to challenge alcohol and drug use among young people here in our own backyard,” said Jorge Castillo, Program Manager of the San Rafael Alcohol and Drug Coalition. “It’s a natural extension of our community coalition’s work to help place more youth from the Canal district of San Rafael on the path toward success and enable them to live healthier and safer lives.”
This summer the program provided pro-social activities and growth and learning opportunities to 26 young people. In addition to sessions on the harms of alcohol and marijuana held at Alcohol Justice, participants went on a number of interesting field trips and bike outings conducted by Trips for Kids. One excursion was to Pie Ranch Youth Food Justice Summit in Pescadero, California, where the kids were invited to present a workshop on alcopops and alcohol marketing to other youth. Youth for Justice Summer Academy participants also received training on public speaking and community activism.
“I liked coming to the Youth for Justice Academy in the summer because we got to meet new people and go to interesting places like farms, or go on bike rides,” stated youth participant and Canal resident Ilse. “And it also felt good to work together to better our community in the Canal.”
Major funding for the academy came from the County of Marin Juvenile Probation Division whose Director, Kevin Lynch, said, “We’re interested in investing in prevention efforts that lead to safe and healthy communities for the youth of Marin. We recognize that youth who are engaged in these activities are far less likely to become involved with the juvenile justice system.”
The San Rafael Alcohol and Drug Coalition is in the first year of a five-year federal grant, receiving $125,000 per year (renewable for 5 years) to involve and engage their community in the prevention of substance abuse among youth. It specifically works to establish and strengthen community collaboration in support of local efforts to prevent youth substance use in the Canal district, a California neighborhood of 12,000 residents.
“We are helping a new generation of young people from the Canal become the future leaders of Marin, said Maite Durán, Community Organizer at Alcohol Justice and Youth for Justice Leader. “We want to give these young people the whole picture, not just that ‘alcohol is bad’. We want them to take away that truly successful leaders are people who take care of themselves, are healthy and strong, physically, mentally and spiritually, and that alcohol or other drugs do not play a role in the lives of young leaders.”
For more information about Youth for Justice or the San Rafael Alcohol and Drug Coalition, contact Jorge Castillo at 415 257-2488.
CONTACT:
Michael Scippa 415 548-0492
Jorge Castillo 213 840-3336
Paulson & Co. Acquires American International Plaza in San Juan, Puerto Rico
Paulson & Co. Acquires American International Plaza in San Juan, Puerto Rico
NEW YORK, Aug. 15, 2014 /PRNewswire-HISPANIC PR WIRE/ — Paulson & Co. Inc. (“Paulson”), a New York-based investment firm, today announced that it has acquired American International Plaza, located at 250 Munoz Rivera Avenue in San Juan, Puerto Rico. The property was acquired from AIG, the original developer of the building. Terms of the deal were not disclosed.
The 326,000 square foot office building, built in 1991, is the premier building in the prestigious Hato Rey financial district. Property tenants include AIG, UBS, KPMG, Oracle, Charles Schwab and leading local law firms O’Neill & Borges and Goldman Antonetti and Cordova.
“We remain optimistic about the future of the San Juan real estate market including the office, residential and hotel sectors,” said Michael Barr, senior real estate partner at Paulson.
In addition to the purchase of American International Plaza, Paulson has acquired the St. Regis Bahia Beach Resort, the Condado Vanderbilt, La Concha Renaissance Hotel and Tower, and various land parcels for future development.
About Paulson & Co.
Founded in 1994, Paulson & Co. is an investment management firm that specializes in event-driven investing. Paulson has approximately US$23 billion in assets under management and has offices in New York, London and Hong Kong. www.paulsonco.com
3rd Annual Festival PEOPLE en Espanol Empowers Youth This Labor Day Weekend With Free Interactive Programming “Inspiring the Next Generation” Featuring Teen Recording Artists Becky G., Zendaya, Las Fenix, Leslie Grace, Matt Hunter And Miguelito
NEW YORK, Aug. 15, 2014 /PRNewswire-HISPANIC PR WIRE/ — "Inspiring the Next Generation" takes center stage at the 3rd annual Festival PEOPLE en Espanol daytime experience on Sunday August 31 from 10:00am-12:00 noon with a slate of star-studded youth empowerment programs featuring the entertainment industry's top teen performers Becky G., Zendaya, Las Fenix, Leslie Grace, Matt Hunter and Miguelito. In a family-friendly forum that's free and open-to-the-public, these teen sensations will share the groundbreaking journeys, detail their experiences and offer words of
advice for overcoming obstacles and achieving success.
The program also includes interactive segments, games and musical performances, including a "Teach Me Your Talent" challenge – showcasing voice tuning, dance moves, camera poses, etc.–with a chance for lucky audience members to win an opportunity for a celebrity selfie. Las Fenix, Leslie Grace, Matt Hunter, and Miguelito will perform live.
In addition, the youth-oriented experience will incorporate a conversation with leading education experts Rosie Castro and Eyra Perez offering back-to-school strategies and solutions for students and parents focused on academic achievement. For the third consecutive year, Festival PEOPLE en Espanol will present college scholarships to San Antonio youth. In partnership with Cafe College, PEOPLE en Espanol will award four
students with a college scholarship of $5,000.
On the evening of Saturday August 30, Becky G. and Zendaya will also take the stage to perform their chart topping hits at the Lila Cockrell Theater for the Chicas Poderosas Concert powered by Disney. Tickets start at $25, and are available now through Ticketmaster. For tickets and more information, visit peopleenespanol.com/festival.
The 2014 Festival PEOPLE en Espanol is powered by Disney. Major sponsors include Coca-Cola and Jeep; official sponsors Cover Girl, HEB, and Strayer University; host sponsors the City of San Antonio and San Antonio Convention and Visitors Bureau; screening partners ABC, Azteca, HBO Latino and Walt Disney Film Studios; partners AARP, St. Jude and Center for Disease Control; and media partners CNN, MusicChoice and Telemundo.
For the latest updates about Festival PEOPLE en Espanol, join the conversation: peopleenespanol.com, Twitter, Facebook, #festivalpeople.
About Festival PEOPLE en Espanol:
PEOPLE en Espanol's annual Festival aims to entertain, inspire and unite Hispanic families around an unparalleled celebration of culture. Festival PEOPLE en Espanol has become one of the year's most-anticipated celebrations of Hispanic culture featuring today's hottest celebrities, expert panels and family-fun activities over Labor Day weekend.
About PEOPLE en Espanol:
PEOPLE en Espanol was launched in 1996 as a
special issue, and today has become the top-selling Hispanic magazine in the United States. Published 11 times a year, PEOPLE en Espanol reaches an audience of 6.9 million every month with its editorial mix of Hispanic and popular entertainment, fashion and beauty trends, and compelling human-interest stories. PEOPLE en Espanol delivers original editorial content that captures the values, contributions and impact of today's Hispanics in the U.S. The brand's social media footprint includes over a 1,000,000 followers on Twitter and over 2.6 million fans on Facebook. For daily news, photos, exclusive behind-the-scenes video and celebrity scoops, visit www.PEOPLEEnEspanol.com.
About Time Inc.:
Time Inc. is one of the largest branded media companies in the world reaching more than 130 million Americans each month across multiple platforms. With influential brands such as TIME, PEOPLE, SPORTS ILLUSTRATED, InStyle, REAL SIMPLE, Wallpaper, Travel + Leisure and Food & Wine, Time Inc. is home to celebrated events and franchises including the FORTUNE 500, TIME 100, PEOPLE's Sexiest Man Alive, SPORTS ILLUSTRATED'S Sportsman of the Year, the Food & Wine Classic in Aspen and the ESSENCE Festival.
Contacts:
Festival PEOPLE en Espanol: Dana Baxter 212-522-1634 [email protected]
inHOUSE Public Relations: Lisa Andrade 210-389-9765 [email protected]