DOCSLIB.ORG

Sears Canada Inc. 2004 Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Sears Canada Inc. 2004 Annual Report SEARS CANADA INC. 2004 ANNUAL REPORT Table of Contents 2 We’ve got the goods 4 We’ve got the brands 6 We’ve got the channels 8 We’ve got the people 10 We’ve got the facts 12 Financial Highlights 13 Letter to Our Shareholders 20 Letter from the Chief Financial Officer 21 2004 Financial Information 22 Eleven Year Summary 23 Common Share Market Information 24 Management’s Discussion and Analysis 54 Statement of Management Responsibility 55 Auditors’ Report 56 Consolidated Statements of Financial Position 57 Consolidated Statements of Earnings/ Consolidated Statements of Retained Earnings 58 Consolidated Statements of Cash Flows 59 Notes to Consolidated Financial Statements 83 Corporate Governance 85 Directors and Officers 86 Corporate Information we’ve got it! Over the course of more than 50 years of operation in Canada, Sears has built the most extensive multi-channel retail network in the country. In this year’s Annual Report we are providing a visual snapshot of the breadth and depth of our Company’s broad array of merchandise, private and exclusive brands, channel shopping options for our customers and a profile of associates who strive to create a memorable experience for our customers every day. We receive communication from these customers throughout the year. Below are a few samples of recent feedback. “It is with deepest regret that I am writing to inform you of the recent demise of our Kenmore dryer….after 34 years of dedicated service….In all those years, there was only one call to service.” Denise R., Mission, BC “We own many Craftsman tools and bought a lawn tractor 7 years ago. That lawn tractor has never given us a moment of trouble.” Lorrie W., Calgary, AB “….what a pleasure it was to shop online with Sears. I ordered my product, requested the shipping date and it was delivered on time, no hassle by extremely polite delivery men who called ahead of their arrival.” Janet A., Ottawa, ON “Your service technicians are extremely polite, courteous, professional and reliable. Our appliances were repaired in a reasonable time, in fact, even faster than predicted.” Isabelle L., Sutton, QC “I just want to write about the excellent customer service that we received from one of your employees….she took the time we needed to answer all the questions we had…she was friendly and informative….after having had her as a salesperson, we knew we were making a good decision buying from Sears.” Nancy M., Moncton, NB Major Appliances Men’s/Women’s/ Sporting Goods/ & Electronics Children’s Wear Toys/Seasonal Fashion Cosmetics & Housewares/ Accessories/ Fragrances Bed & Bath Footwear Furniture/ Window Coverings we’ve got the ... goods Hardware/ Lawn & Garden Sears-O-Pedic Weir Golf Nevada Craftsman we’ve got the ... brands Kenmore Martha Stewart Whole Home Jessica Everyday Sears Home we’ve got the ... channels Sears Dealer Sears full-line Sears department Sears Travel HomeCentral stores Sears www.sears.ca Sears Catalogue Appliances & Mattresses HomeCentral Transportation/ technicians Logistics associates Customer Contact Centre associates we’ve got the ... people Travel consultants Store sales associates serving Catalogue customers throughout Canada sales agents Sears is Canada’s There is a #1 Retailer for: Sears location within a Furniture and major appliances Mattress sets Custom window coverings Bedding and linens 10 minute drive Women’s sportswear and accessories of 93% of Canadians #1Women’s petite size clothing Sears Canada Direct 219 Off-mall stores www.sears.ca is ranked the country’s Sears Home Sears Catalogue most trusted Dealer 2,200 merchandise Appliances & Mattresses pick-up locations company by TNS Outlet Canadian Facts survey Sears has the most extensive 112 Travel multi-channel retail offices Sears Kenmore is the network in Canada 121 Full-line 64 Home Improvement #1 department showrooms selling brand for major stores Floor Covering Centres appliances in Canada Covering stores Sears HomeCentral showrooms Sears Canada is 1-800-26-SEARS #1 order-taking and customer service line is in home delivery the most dialed phone number in Canada services The Sears Card is Sears Free Spirit Major Exercise Equipment is Canada’s #1 #1 credit card from a single-issuer best seller Sears Craftsman is Canada’s we’ve got the ... #1 facts selling brand for lawn mowers and snow blowers Financial Highlights For the 52-week period ended January 1, 2005 and the 53-week period ended January 3, 2004 2004 20031 Results for the year (in millions) Total revenues $ 6,230 $ 6,223 Interest expense 55 60 Earnings before unusual items and income taxes 193 226 Unusual items – expense 3 5 Income tax expense 61 96 Net earnings 129 125 Year end position (in millions) Inventories $ 790 $ 801 Working capital 1,319 1,124 Total assets 4,226 4,139 Shareholders’ equity 1,877 1,781 Per share of capital stock (in dollars) Net earnings $ 1.21 $ 1.17 Dividends declared 0.24 0.24 Shareholders’ equity 17.67 16.67 1 The 2003 financial results have been restated. See Note 1 in the “Notes to the Consolidated Financial Statements”. 12 Sears Canada Inc. Brent Hollister President and Chief Executive Officer Working Together for a Successful Future Letter to Our Shareholders As the retail landscape is continuously evolving, Sears Canada’s far-reaching presence is the Sears has also adapted its multi-channel product of a relationship of trust and respect approaches to the Canadian marketplace over with Canadians that has deepened and the past year to better characterize the breadth flourished since we began operations over of our operations. “Department stores” provide 50 years ago. The Sears name today resonates Sears full-line assortment of merchandise in profoundly with millions of Canadians, many major centres from coast to coast. “Off-mall” of whose parents and grandparents have stores incorporate Sears Home, Appliances shopped with us. and Mattresses stores, Outlet stores, and owner-operated Dealer stores serving smaller The Company has the most extensive multi- communities. “Home improvement showrooms” channel retail network in the country. There is consist of floor-covering centres, home installed- a Sears location within a 10-minute drive of 93% product display areas inside our Sears Home of Canadians and we are committed to providing stores, and our Coverings banner opened late in them with quality merchandise and exceptional the year, all of which have Sears HomeCentral service coast to coast through our 121 full-line installation as their largest sales driver. “Direct” department stores, 219 off-mall stores, 64 home business refers to our catalogue and internet improvement showrooms, over 2,200 catalogue channels, reflecting the true marketing nature of merchandise pick-up locations, 112 Sears Travel how we reach customers using these methods. offices and a nationwide home maintenance, These various channels operate not as totally repair and installation network. separate ways to shop, but rather as an integrated solution system for our customers. For example, 2004 Annual Report 13 Frank Rocchetti Ethel Taylor Ajit Khanna Senior Vice-President, Senior Vice-President, Senior Vice-President, Merchandising and Marketing Full-Line Sales Off-Mall Sales in 2004, we launched the Clinique syndicated store Within this merchandise selection there are private on sears.ca, extending into direct marketing that and exclusive brands that we continue to refine which had been available only through department in order to give customers even more reasons stores previously. Another example is our internet to come to Sears rather than other retailers. site which provides customers with an online Kenmore, Kenmore Elite, Craftsman, Whole Home, shopping service which contains exclusive sears.ca Nevada, Jessica, Mike Weir Golf, and Martha products while also providing a mechanism for Stewart Everyday are all strong category Catalogue customers to order by clicking or dialing. performers and all posted healthy increases in 2004 over the prior year. We were pleased to A solid outlet approach requires a solid product welcome former heavyweight boxing champion, approach. “Destination” categories, where we George Foreman in person last fall to kick off have an authority position with customers, are a new exclusive relationship with Casual Male men’s wear, women’s wear, bed & bath, home Big & Tall men’s apparel. furnishings, major appliances, and outdoor power equipment. We have a strong market position in From the customer’s perspective, the merging of other categories which customers also expect to a product approach with an outlet approach means find at Sears. We provide an in-store selection that greater access to a broad range of merchandise. is adapted to each market depending on size and We are, in essence, bringing quality merchandise customer demand, and we complement that to our customers wherever and whenever they with our direct business and our HomeCentral prefer to shop. As we move forward with this repair and installation services. We enhance our more holistic sales approach, we will focus offerings with associates who strive to provide on the most appropriate platform to reach an exceptional and memorable shopping customers, including Sears Catalogue and experience every time. through www.sears.ca. 14 Sears Canada Inc. We believe this provides uniqueness to Sears The structure of the Officer group in place since that no other retailer can offer. While we faced mid-fall, pictured throughout these pages, means challenges last year, we maintained steady control that all major business units are represented when of the organization and continued to expand important decisions are made. This is a team of systematically the flexibility and responsiveness dedicated executives that are able to build on the of our multi-channel network. foundation that exists, and lead the organization through growth and productivity improvements. Total revenues for the year reached $6.23 billion.
Load more

Recommended publications
  • Kenmore Appliance Warranty Master Protection Agreements One Year Limited Warranty Congratulations on Making a Smart Purchase
    Kenmore Appliance Warranty Master Protection Agreements One Year Limited Warranty Congratulations on making a smart purchase. Your new Ken- When installed, operated and maintained according to all more® product is designed and manufactured for years of instructions supplied with the product, if this appliance fails due dependable operation. But like all products, it may require to a defect in material or workmanship within one year from the preventive maintenance or repair from time to time. That’s when date of purchase, call 1-800-4-MY-HOME® to arrange for free having a Master Protection Agreement can save you money and repair. aggravation. If this appliance is used for other than private family purposes, The Master Protection Agreement also helps extend the life of this warranty applies for only 90 days from the date of pur- your new product. Here’s what the Agreement* includes: chase. • Parts and labor needed to help keep products operating This warranty covers only defects in material and workman- properly under normal use, not just defects. Our coverage ship. Sears will NOT pay for: goes well beyond the product warranty. No deductibles, no functional failure excluded from coverage – real protection. 1. Expendable items that can wear out from normal use, • Expert service by a force of more than 10,000 authorized including but not limited to fi lters, belts, light bulbs and bags. Sears service technicians, which means someone you can 2. A service technician to instruct the user in correct product trust will be working on your product. installation, operation or maintenance. • Unlimited service calls and nationwide service, as often as 3.
    [Show full text]
  • Court File No. CV-18-00611214-00CL ONTARIO SUPERIOR COURT of JUSTICE COMMERCIAL LIST B E T W E E N: SEARS CANADA INC., by ITS CO
    Court File No. CV-18-00611214-00CL ONTARIO SUPERIOR COURT OF JUSTICE COMMERCIAL LIST B E T W E E N: SEARS CANADA INC., BY ITS COURT-APPOINTED LITIGATION TRUSTEE, J. DOUGLAS CUNNINGHAM, Q.C. Plaintiff - and - ESL INVESTMENTS INC., ESL PARTNERS LP, SPE I PARTNERS, LP, SPE MASTER I, LP, ESL INSTITUTIONAL PARTNERS, LP, EDWARD LAMPERT, EPHRAIM J. BIRD, DOUGLAS CAMPBELL, WILLIAM CROWLEY, WILLIAM HARKER, R. RAJA KHANNA, JAMES MCBURNEY, DEBORAH ROSATI, and DONALD ROSS Defendants BOOK OF AUTHORITIES OF THE DEFENDANTS WILLIAM HARKER, WILLIAM CROWLEY, DONALD ROSS, EPHRAIM J. BIRD, JAMES MCBURNEY, AND DOUGLAS CAMPBELL MOTION TO STRIKE RETURNABLE APRIL 17, 2019 March 29, 2019 CASSELS BROCK & BLACKWELL LLP 2100 Scotia Plaza 40 King Street West Toronto, ON M5H 3C2 William J. Burden LSO #: 15550F Tel: 416.869.5963 Fax: 416.640.3019 [email protected] Wendy Berman LSO #: 32748J Tel: 416.860.2926 Fax: 416.640.3107 [email protected] Lawyers for the Defendants William Harker, William Crowley, Donald Ross, Ephraim J. Bird, James McBurney, and Douglas Campbell 2 TO: LAX O’SULLIVAN LISUS GOTTLIEB LLP 145 King Street West, Suite 2750 Toronto, ON M5H 1J8 Matthew P. Gottlieb LSO#: 32268B Tel: 416.644.5353 Fax: 416.598.3730 [email protected] Andrew Winton LSO #: 54473I Tel: 416.644.5342 Fax: 416.598.3730 [email protected] Philip Underwood LSO#: 73637W Tel: 416.645.5078 Fax: 416.598.3730 [email protected] Lawyers for the Plaintiff AND TO: BENNETT JONES LLP Barristers and Solicitors 1 First Canadian Place Suite 3400 P.O. Box 130 Toronto, ON M5X 1A4 Richard Swan LSO #:32076A Tel: 416.777.7479 Fax: 416.863.1716 [email protected] Jason Berall LSO #: 68011F Tel: 416.777.5480 Fax: 416.863.1716 [email protected] Lawyers for the Defendants R.
    [Show full text]
  • October 1968
    "Serving the men uiho move ~ he eartM" ENGINEE NEWS NegotiationsProve ·R · Very Successful GENERAL W~LFARE OF ALL ENGINEERS AND THEIR FAMILIES Operating Engineers Local Union No. 3 of the International Union of Operating Engineers announced this week that most of it's major • three-year contract negotiations had been signed and ratifi~d by the members. Most recently completed were agreements with the Dredging Con­ tractors Association of California; Piledriving Contractors Association; and Equipment Dealers Association. Vol. 27-No. 10 SAN FRANCISCO, CALIFORNIA October 1968 Local 3 Business Manager AI Clem said that members of ·the Local 3 negotiating team had worked long and hard in numerous sessions with the employers to win for the membership the finest collection of con- struction agreements ever negotiated. "Of course," said Clem, "it's the same old stmy, you can't please all of the members all of the time, however, we know the vast majority of the membership were well pleased with the economic gains not only in . direct pay but in the health and welfare and pension and vacation pay areas of the contracts negotiated. Subsistence areas were · clearly established and travel pay was increased. Overall, our member­ ship will gain some 40% in economic upgrading dming the next three­ • . years of our major contracts." · New sections of recently completed agreements include: DREDGE AGREEME~T Section No. 1-General Provisions A. Defirtitions-4. The term "employee" as used herein, shall mean any person, without regard to race, creed, color,
    [Show full text]
  • SEARS HOLDINGS CORPORATION (Exact Name of Registrant As Specified in Its Charter)
    United States Securities and Exchange Commission Washington, D.C. 20549 FORM 10-K x Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended January 28, 2017 or o Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission file number 000-51217, 001-36693 SEARS HOLDINGS CORPORATION (Exact Name of Registrant as Specified in Its Charter) Delaware 20-1920798 (State of Incorporation) (I.R.S. Employer Identification No.) 3333 Beverly Road, Hoffman Estates, Illinois 60179 (Address of principal executive offices) (Zip Code) Registrant’s Telephone Number, Including Area Code: (847) 286-2500 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of Each Exchange on Which Registered Common Shares, par value $0.01 per share The NASDAQ Stock Market Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ¨ No x Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨ No x Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such response) and (2) has been subject to such filing requirements for the past 90 days.
    [Show full text]
  • Discontinued Label Templates
    3plcentral.com | Connecting the World Through Intelligent Distribution Discontinued Label Templates The following UCC-128 label templates are to be discontinued as of February 24, 2021. AC Moore 10913 Department of Defense 13318 Jet.com 14230 Office Max Retail 6912 Sears RIM 3016 Ace Hardware 1805 Department of Defense 13319 Joann Stores 13117 Officeworks 13521 Sears RIM 3017 Adorama Camera 14525 Designer Eyes 14126 Journeys 11812 Olly Shoes 4515 Sears RIM 3018 Advance Stores Company Incorporated 15231 Dick Smith 13624 Journeys 11813 New York and Company 13114 Sears RIM 3019 Amazon Europe 15225 Dick Smith 13625 Kids R Us 13518 Harris Teeter 13519 Olympia Sports 3305 Sears RIM 3020 Amazon Europe 15226 Disney Parks 2806 Kids R Us 6412 Orchard Brands All Divisions 13651 Sears RIM 3105 Amazon Warehouse 13648 Do It Best 1905 Kmart 5713 Orchard Brands All Divisions 13652 Sears RIM 3206 Anaconda 13626 Do It Best 1906 Kmart Australia 15627 Orchard Supply 1705 Sears RIM 3306 Associated Hygienic Products 12812 Dot Foods 15125 Lamps Plus 13650 Orchard Supply Hardware 13115 Sears RIM 3308 ATTMobility 10012 Dress Barn 13215 Leslies Poolmart 3205 Orgill 12214 Shoe Sensation 13316 ATTMobility 10212 DSW 12912 Lids 12612 Orgill 12215 ShopKo 9916 ATTMobility 10213 Eastern Mountain Sports 13219 Lids 12614 Orgill 12216 Shoppers Drug Mart 4912 Auto Zone 1703 Eastern Mountain Sports 13220 LL Bean 1702 Orgill 12217 Spencers 6513 B and H Photo 5812 eBags 9612 Loblaw 4511 Overwaitea Foods Group 6712 Spencers 7112 Backcountry.com 10712 ELLETT BROTHERS 13514 Loblaw
    [Show full text]
  • Retail News & Views
    Retail News & Views www.informationclearinghouseinc.com I March 21, 2017 PCG Dinner Meeting Mass Merchandisers / Dollar Stores Presentation THE WEEK’S Alerts / Updates / Snapshot Reports We recently held our Winter Retreat in Ft. Lauderdale, FL, which included 3/21 – Sears Canada – Enters Into New Loan Agreement discussions of Supervalu’s sale of Save-A-Lot and the outlook for both 3/15 – Sears Holdings – Kmart President Departs of these companies, Sears’ recent 3/14 – Sears Holdings – Sears’ Lenders Hire Advisor liquidity-enhancing measures, an update on the Walgreens and Rite On March 17, Walmart acquired the assets and operations of ModCloth, an Aid merger including the deal to sell 865 stores to Fred’s, as well as a online specialty retailer of unique women’s fashion and accessories. It offers thousands of review of US Foods and Unified items — including independent designers, national brands and ModCloth-designed Grocers. For a copy of the private label apparel. The majority of the apparel is offered in a full size range. presentation deck, please click here. ModCloth also operates one physical store in Austin, TX, where customers can schedule styling appointments with ModStylists. ModCloth is headquartered in San Francisco and Store / Facility Closings has additional offices in Los Angeles and Pittsburg. The move follows recent e-commerce Click here for recently announced purchases of Jet.com for $3.30 billion, Shoebuy for $70.0 million, and Moosejaw for $51.0 closures (week ended 3/21) million. J.C. Penney to close 138 stores Meanwhile, Walmart will reportedly launch its first investment arm to expand its e- Kmart to close 2 stores commerce business in partnership with retail start-ups, venture capitalists and Walmart to close 1 store entrepreneurs.
    [Show full text]
  • Motion by Retirees Re: Deemed Trust and Distribution to the Pension Plan)
    Court File No.: CV-17-11846-00CL ONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST) IN THE MATTER OF THE COMPANIES' CREDITORS ARRANGEMENT ACT, R.S.C. 1985, c.C-36, AS AMENDED AND IN THE MATTER OF A PLAN OF COMPROMISE OR ARRANGEMENT OF SEARS CANADA INC., 9370-2751 QUEBEC INC., 191020 CANADA INC., THE CUT INC., SEARS CONTACT SERVICES INC., INITIUM LOGISTICS SERVICES INC., INITIUM COMMERCE LABS INC., INITIUM TRADING AND SOURCING CORP., SEARS FLOOR COVERING CENTRES INC., 173470 CANADA INC., 2497089 ONTARIO INC., 6988741 CANADA INC., 10011711 CANADA INC., 1592580 ONTARIO LIMITED, 955041 ALBERTA LTD., 4201531 CANADA INC., 168886 CANADA INC., and 3339611 CANADA INC. ((each an "Applicant", and collectively, the "Applicants" or "Sears Canada") MOTION RECORD (Motion by Retirees re: Deemed Trust and distribution to the pension plan) July 20, 2018 KOSKIE MINSKY LLP 20 Queen Street West, Suite 900, Box 52 Toronto, ON M5H 3R3 Andrew J. Hatnay (LSUC# 31885W) Tel: 416-595-2083 / Fax: 416-204-2872 Email: [email protected] Demetrios Yiokaris LSUC#: 45852L Tel: 416-595-2130/ Fax: 416-204-2810 Email: [email protected] Amy Tang - LSUC #70164K Tel: 416-542-6296 / Fax: 416-204-4936 Email: [email protected] Representative Counsel for the Retirees of Sears Canada TABLE OF CONTENTS TAB DESCRIPTION PAGE NOS. 1. Notice of Motion dated July 20, 2018 1-12 2. Affidavit of William B. Turner (to be sworn) 13-27 Exhibit "A": Media Articles describing involvement of Lampert and ESL and Sears Canada: "Sears Canada Announces Change in Ownership of Controlling Shareholder", Form 51-102F3 Material Change Report Sears Canada Inc.
    [Show full text]
  • Squirreling Away: Managing Information Resources & Libraries — the Writing on the Wall
    Against the Grain Manuscript 8227 Squirreling Away: Managing Information Resources & Libraries — The Writing on the Wall Corey Seeman Follow this and additional works at: https://docs.lib.purdue.edu/atg Part of the Library and Information Science Commons This document has been made available through Purdue e-Pubs, a service of the Purdue University Libraries. Please contact [email protected] for additional information. Squirreling Away: Managing Information Resources & Libraries — The Writing on the Wall Column Editor: Corey Seeman (Director, Kresge Library Services, Stephen M. Ross School of Business, University of Michigan; Phone: 734-764-9969) <[email protected]> Twitter @cseeman s I am writing this column, I am notic- position that anyone should be in — but alas, Dean Witter Reynolds (the large securities ing that my house is mostly free from it happens. firm). In 1984, they launched Prodigy with holiday decorations. It is not that I am IBM and CBS as one of the early ways that A About Sears a curmudgeon, but that given today is the first people could connect to the growing Internet. of the year, it is time to clean up the house and When I was a library school student, I In 1985, they introduced the Discover Card get it ready for the New Year. Put away are first learned about Sears List of Subject which for the first time, offered users cash the Christmas decorations and the tree. If we Headings. I remember thinking they were back on their purchases. In many ways, they can get this done by the first of the year, we incredible and delivered just about everything.
    [Show full text]
  • A Postmortem for Sears - Transcript
    A Postmortem for Sears - Transcript Tom Mullooly: In episode 123, we're going to do a postmortem on Sears Roebuck. Stick around. Welcome to the Mullooly Asset show. I'm your host, Tom Mullooly, and this is episode number 123. One, two, three red light. So today, the day that we're recording this, it looks like Sears Roebuck is going to ask the bankruptcy court to enter liquidation, and that's the end of Sears as we know it. So I thought it would be a good time to just kind of take a walk down memory lane. There's a lot of people in the media today who are comparing Amazon to Sears saying, "Hey, Sears was the Amazon of its day." And I just want to share a couple of things that I've learned over the years about Sears. It was started in 1886 as a mail order company. Richard Sears actually sold watches through a catalog that he put together. A year later, in 1887, he hires a guy named Alvah Roebuck to repair watches. So I guess they had problems with some of the watches that they were selling through their catalog. They then added jewelry, and the mail order business really took off. What helped them, a little bit of history for you, is that in the late 1880s, the US government started a program called rural free delivery, or RFD. Some of you are around my age may remember a TV show after Andy Griffith left. It was called Mayberry RFD, and everybody always wanted to know what RFD stood for.
    [Show full text]
  • Sleep Country Canada Holdings Inc. Annual
    SLEEP COUNTRY CANADA HOLDINGS INC. ANNUAL INFORMATION FORM For the year ended December 31, 2017 March 1, 2018 TABLE OF CONTENTS CAUTION REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION .......... 1 NON-IFRS MEASURES ............................................................................................................................ 2 GENERAL DEVELOPMENT OF THE BUSINESS .............................................................................. 3 DESCRIPTION OF THE BUSINESS ....................................................................................................... 5 RISK FACTORS ....................................................................................................................................... 11 MATERIAL CONTRACTS .................................................................................................................... 20 DIRECTORS AND EXECUTIVE OFFICERS ..................................................................................... 21 MARKET FOR SECURITIES ................................................................................................................ 26 PROMOTERS ........................................................................................................................................... 27 TRANSFER AGENT AND REGISTRAR ............................................................................................. 27 INTERESTS OF EXPERTS ...................................................................................................................
    [Show full text]
  • Court File No. CV-17-11846-00CL SEARS CANADA INC., AND
    Court File No. CV-17-11846-00CL SEARS CANADA INC., AND RELATED APPLICANTS TWENTY-SECOND REPORT OF FTI CONSULTING CANADA INC., AS MONITOR SEPTEMBER 7, 2018 Contents Section Page A. INTRODUCTION ....................................................................................................................2 B. PURPOSE ................................................................................................................................5 C. TERMS OF REFERENCE .......................................................................................................6 D. OVERVIEW .............................................................................................................................7 E. ASSET REALIZATIONS ........................................................................................................9 F. DISTRIBUTIONS TO DATE ................................................................................................10 G. CLAIMS AGAINST SEARS CANADA, FORMER CORBEIL AND FORMER SLH .......11 H. EFFECT OF PENSION MOTION ON CREDITOR RECOVERIES ...................................12 I. PENSION MATTERS RELATING TO FORMER CORBEIL AND FORMER SLH .........14 J. TAX IMPLICATIONS ...........................................................................................................17 K. MULTI-JURISDICTIONAL AGREEMENTS AND GOVERNING LAW .........................17 L. SPOUSAL WAIVER .............................................................................................................18 Court File No.
    [Show full text]
  • Annual Report
    VORNADO COMPANY PROFILE Vornado Realty Trust is a fully-integrated real estate investment trust. The Company owns: Office Properties: ■ 111 office properties aggregating approximately 30.7 million square feet in the New York and the Washington DC/Northern Virginia area; Retail Properties: ■ 111 retail properties in nine states and Puerto Rico aggregating approximately 16.2 million square feet; Merchandise Mart Properties: ■ 9.2 million square feet of showroom and office space, including the 3.4 million square foot Merchandise Mart in Chicago; Temperature Controlled Logistics: ■ a 47.6% interest in AmeriCold Realty Trust which owns and operates 100 cold storage warehouses nationwide; Toys “R” Us, Inc.: ■ a 32.95% interest in Toys “R” Us, Inc.; Other Real Estate Investments: ■ 33% of the common stock of Alexander’s, Inc. (NYSE: ALX); ■ the Hotel Pennsylvania in New York; ■ a 15.8% exchangeable interest in The Newkirk Master Limited Partnership (NYSE: NKT); ■ mezzanine loans on real estate; ■ a 11.3% exchangeable interest in GMH Communities L.P. (NYSE: GCT); and ■ other investments and marketable securities. Vornado’s common shares are listed on the New York Stock Exchange and are traded under the symbol: VNO. FINANCIAL HIGHLIGHTS Year Ended December 31, 2005 2004 Revenues $ 2,547,628,000 $ 1,712,713,000 Net income $ 493,103,000 $ 570,997,000 Net income per share—basic $ 3.69 $4.56 Net income per share—diluted $ 3.50 $4.35 Total assets $13,637,163,000 $11,580,517,000 Shareholders’ equity $ 5,263,510,000 $ 4,012,741,000 Funds from operations* $ 757,219,000 $ 750,043,000 EBITDA (before Minority Interest and Gains Funds from Operations Per Share* on Sale of Real Estate)* (in dollars) (in millions of dollars) 0 1 1,404 5.63 1,286 5.21 4.44 1,052 964 3.96 3.91 3.65 818 3.37 751 2.81 627 428 1.43 1.27 155 90 0 0 96 97 98 99 00 01 02 03 04 05 96 97 98 99 00 01 02 03 04 05 EBITDA by Region* EBITDA by Segment* for the year ended December 31, 2005 for the year ended December 31, 2005 NYC METRO AREA 49% NYC OFFICE 28% WASH.
    [Show full text]