DOCSLIB.ORG

Consumer & Retail Industry Update

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Consumer & Retail Industry Update Consumer and Retail Industry Update February 2013 Member FINRA/SIPC www.harriswilliams.com Consumer and Retail Industry Update February 2013 What We’ve • The National Retail Federation released its 2013 economic forecast, projecting that retail Been Reading industry sales will increase 3.4% in 2013. “Retailers will … [focus] on providing value for their shoppers through unique promotions in stores and online and exclusive product lines.” Read the press release here. • PwC has released a report on 2012 consumer M&A activity, finding that “strong retail and consumer deal activity in 2012 drove both deal volume and value up ... Private equity activity in the retail sector comprised nearly 40 percent of deal volume and 55 percent of deal value, and IPO volume increased 38 percent.” Read the article here. • The New York Times has reported that Swatch has agreed to purchase Harry Winston Watches and Jewelry. “Swatch … has agreed to pay $750 million to acquire the brand from Toronto-based Harry Winston Diamond Corp. and will also assume as much as $250 million in debt, a joint statement said. The acquisition includes the Harry Winston production company in Geneva and more than 500 employees globally.” Read the article here. • According to Reuters, K-Swiss has agreed to be acquired by South Korean retailer E-Land World for $4.75 per share, valuing the company at approximately $170 million. Read the article here. Contacts Richmond Boston Cleveland London Minneapolis Philadelphia San Francisco Phone: +1 (804) 648-0072 Phone: +1 (617) 482-7501 Phone: +1 (216) 689-2400 Phone: +44 203 170 8838 Phone: +1 (612) 359-2700 Phone: +1 (267) 675-5900 Phone: +1 (415) 288-4260 Fax: +1 (804) 648-0073 Fax: +1 (617) 482-7503 Fax: +1 (216) 689-2401 Fax: +44 207 681 1907 Fax: +1 (612) 359-2701 Fax: +1 (267) 675-5901 Fax: +1 (415) 288-4269 For more information regarding our consumer experience, please contact: Glenn Gurtcheff ([email protected]) or Tim Alexander ([email protected]) at +1 (612) 359-2700; John Neuner IV ([email protected]) at +1 (804) 648-0072; or Red Norrie ([email protected]) at +44 20 7518 8906. 1 of 16 Equity Trading Overview February 2013 Median Median TEV/ Median TEV/ Key Trading Number of Sector Enterprise Change in Stock Price LTM Multiples Forward Mulitples Statistics Companies Value ($mm) 3 mos. 12 mos. Revenue EBITDA Revenue EBITDA (detail begins Consumer Products on page 6) Apparel & Footwear 35 $1,529 2.1% 13.8% 1.13x 8.9x 1.08x 8.3x Automotive Products 12 2,963 7.5% 23.9% 0.60x 11.0x 0.54x 10.0x Home & Office Furniture & Furnishings 14 849 9.7% 10.2% 0.63x 9.5x 0.63x 7.5x Household Products 11 5,520 9.3% 25.3% 1.43x 9.5x 1.39x 8.9x Personal Care Products 13 4,020 2.8% 6.3% 1.12x 9.4x 1.03x 7.9x Recreational & Leisure Products 21 446 3.5% 17.9% 1.00x 8.4x 1.02x 7.3x Retail Apparel & Footwear Retail 43 962 (1.8%) 13.2% 0.58x 6.4x 0.56x 5.6x Catalog & Specialty Distribution 7 302 14.4% 14.7% 0.27x 7.1x 0.25x 8.2x Department Chains 9 6,680 (5.9%) 8.4% 0.62x 6.6x 0.60x 6.6x Discount Stores & Mass Merchants 13 2,278 (4.0%) 3.3% 0.61x 7.8x 0.62x 7.6x Furniture & Furnishings Retailers 13 1,127 1.4% 12.7% 1.03x 7.7x 0.97x 6.6x Internet Retail 13 585 9.7% 14.8% 1.18x 16.2x 0.98x 10.3x Specialty & Other Retail 28 1,422 9.1% 13.1% 0.68x 9.1x 0.69x 7.6x Consumer Products 106 $2,246 5.5% 15.8% 1.06x 9.5x 1.03x 8.1x Retail 126 $1,127 1.4% 13.1% 0.62x 7.7x 0.62x 7.6x Consumer & Retail Index 232 $1,422 3.5% 13.2% 0.68x 8.9x 0.69x 7.6x Public Company Household Products Sector Automotive Products Performance Recreational & Leisure Products (12-month % Internet Retail change in Catalog & Specialty Distribution stock price) Apparel & Footwear Apparel & Footwear Retail Consumer & Retail Index Specialty & Other Retail Furniture & Furnishings Retailers S&P 500 Home & Office Furniture & Furnishings Department Chains Personal Care Products Discount Stores & Mass Merchants 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 2 of 16 Equity Markets Overview February 2013 225 Consumer 110.5% 200 and Retail 84.3% Industry Stock Performance 175 80.5% 150 Index 125 100 75 50 Feb-09 Aug-09 Feb-10 Aug-10 Feb-11 Aug-11 Feb-12 Aug-12 Feb-13 Dow Jones U.S. Consumer Goods Index Dow Jones Retail Index S&P 500 Index Recent Equity Transaction Gross Proceeds Offerings Close Date Filing Date Issuer Ticker Type ($mm) Use of Funds 01/29/13 01/15/13 Five Below Inc FIVE Follow-On $463.9 General Corp. Purp. 01/24/13 10/24/12 Bright Horizons Family BFAM IPO 222.2 General Corp. Purp. 01/15/13 01/22/13 EZCORP Inc EZPW Follow-On 28.3 Investment in Securities 01/17/13 01/17/13 Bauer Performance Sports Ltd BAU Follow-On 35.3 General Corp. Purp. 12/20/12 12/20/12 SW China Imports Inc SWCI Follow-On 16.2 General Corp. Purp. 12/13/12 03/13/12 Harbinger Group Inc HRG Follow-On 150.0 General Corp. Purp. 12/07/12 04/18/12 Conn's Inc CONN Follow-On 169.2 Investment in Securities, Repayment of Debt 11/19/12 10/16/12 Hudsons Bay Co TSX:HBC IPO 366.4 General. Corp. Purp. / Working Capital 11/08/12 10/16/2012 Tumi Holdings Inc TUMI Follow-On 213.1 General Corp. Purp. 11/01/12 09/09/11 Restoration Hardware Holdings, Inc. RH IPO 142.5 General Corp. Purp. / Repayment of Debt 10/19/12 9/24/2012 Aspen Group Inc ASPU Follow-On 52.6 General Corp. Purp. 10/10/12 09/26/12 Bauer Performance Sports Ltd BAU Follow-On 41.6 General Corp. Purp. 10/08/12 04/30/12 Sears Hometown & Outlet Stores SHOS Rights Offering 346.5 General Corp. Purp. 10/03/12 09/13/12 WageWorks Inc WAGE Follow-On 105.0 General Corporate Purp. / Working Capital 3 of 16 M&A Overview February 2013 Announced Quarterly Consumer M&A Activity Last 10 Deals Announced 160 Consumer Announced Target Buyer 140 1/31/2013 WMS Industries Inc. Scientific Games Corporation and Retail 15 1/24/2013 Blocksworld Linden Research, Inc. M&A 1/24/2013 Hume Travel Corporation Corporate Travel Management 120 1/22/2013 Lysse E & A Industries, Inc. __ 23 1/22/2013 KIVA Designs, Inc., KIVA Brand Baggallini, Inc. 100 1/19/2013 Becker Monument Company Bell Memorials 1/18/2013 Personal Retailing, Inc. JustFabulous 80 1/16/2013 K-Swiss Inc. E. Land World Company 9 5 20 1/16/2013 ReStockIt, LLC Acme Paper & Supply Co. 6 10 14 10 128 1/15/2013 Genceutic Naturals Nature's Answer, Inc. 60 13 13 12 11 10 18 98 40 4 LTM Deal Statistics Number Number ofTransactions 72 72 66 65 61 63 63 56 56 55 Transaction Multiples 48 49 47 Aggregate Number 20 37 Value ($bn) of Deals EV / Revenue EV / EBITDA 0 $38.7 401 0.95x 10.0x 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 Note: Transactions based on publicly available information PEG Acquirer Strategic Acquirer Consumer and Announced Consumer Transactions Median Consumer Transaction Multiples Retail M&A 16.0x 1.75x $120 500 Trends 450 14.0x 1.50x $100 __ 400 Number ofTransactions Number 12.0x 11.2x 11.0x Multiple Sales LTM / EV $84.9 $79.7 10.7x 1.25x 350 10.3x 10.0x $80 10.0x 8.9x 300 8.4x 1.00x $60 250 8.0x 0.75x 200 $40.3 6.0x $40 $38.3 150 $28.6 $29.7 0.50x __ 4.0x $22.1 __ 100 Multiple EBITDA LTM / EV $20 2.0x 0.25x 50 Aggregate Transaction Value ($ in billions) in ($ Value Aggregate Transaction $0 0 0.0x 0.00x 2006 2007 2008 2009 2010 2011 2012 2006 2007 2008 2009 2010 2011 2012 Aggregate Deal Value # of deals EV / LTM EBITDA EV / LTM Sales Median LTM Median LTM Trading Multiples Consumer Private Equity Investments and Exits Trading 12.0x 120 10.9x 111 Multiples and 10.6x 10.7x 10.3x 10.5x 10.3x 10.3x 9.9x 10.0x 9.9x Announced 9.7x 9.7x 97 10.0x 9.5x 9.3x 100 9.2x 9.1x 9.0x 9.1x 9.2x 9.1x 9.2x 8.7x 8.8x Private Equity 8.5x ' 81 M&A Activity 8.0x 80 76 73 71 72 72 58 59 59 6.0x 60 53 54 53 53 48 4.0x 40 37 33 31 Number of Investments 28 Median Trading Multiples Trading Median 2.0x 20 0.0x 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Number of Investments Number of Exits Consumer Products Retail 4 of 16 Debt Market Overview February 2013 Key Retail Quarterly Retail Loan Volume Average Spread on Retail Loans Credit Statistics $12 L + 500 ___ $10 __ L + 400 $8 L + 300 $6 L + 200 $4 Average Spread Over LIBOR Over Average Spread L + 100 $2 Loan VolumeLoan byQuarter ($ billions)in $0 L + 0 4Q06 2Q07 4Q07 2Q08 4Q08 2Q09 4Q09 2Q10 4Q10 2Q11 4Q11 2Q12 4Q12 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Pro Rata Institutional Revolving Credit / Term Loan A Weighted-Average Institutional Credit Statistics Average Secondary Spread 8.0x L + 1200 2007 2008 2009 2010 2011 2012 L + 1000 6.0x L + 800 4.0x L + 600 L + 400 EBITDA Multiple EBITDA 2.0x AverageSpread Over LIBOR L + 200 0.0x L + 0 Debt/EBITDA Senior EBITDA/Cash EBITDA - Debt/EBITDA Interest Capex/Cash Interest Recent Date Effective Borrower Name Description Deal Amount Type Rating Spread 02/01/13 DineEquity Inc, DineEquity Inc Eating places $75,000,000 Revolver/Line >= 1 Yr.
Load more

Recommended publications
  • Hi Tec Sports Direct
    Hi Tec Sports Direct Homozygous Salman denaturalize her kent so consumptively that Pascale coact very secondarily. Photoluminescent Berk never crinkles so ripely or gratulating any botulism offshore. Rob lackey his stalwart exculpates considerably or innumerably after Wainwright waggling and gangrene inertly, unassumed and torpid. Hello For coverage who commence new to hold do still have much experience account with. Us Military Motorcycle Helmet. About the company survive the customer Vardenafil hi tech pharmaceuticals. Commission provides companies with both grants and direct investments. Hi-Tec Sports has extended its global sponsorship contract. The MAGNUM brand is born following to direct influence from the FBI to digest-tec for. See regularly set karrimor in planning and walking boots are okay. Hi-Tec Shop Hi-Tec at Verycouk. Tec and direct flagship store has become the present quality. Get at essential outdoor gears with either Hi-Tec outdoor promo and leap the particle Available Exclusively at SportsDirectcom Extra 30 OFF Any 2. Why do for recreation and direct is the best footwear for the first to. W204 Mods. Great deals from sportsdirect outlet in Mens- eBay Shops. Sneaker District online shop Gratis verzending NLBEDEFR. SquashXtra Kit on Hi-Tec Classic Professional Squash. Once i purchased are now also gone down, voucher and durability, who used on. Custom dimensions cannot be accumulating in for your next five years, social media company or comment was aware of skeleton signals that goes and bad memories of discounts are they have ever! Direct Sports Badminton Tennis & Squash Rackets Running. Hi-Tec Sports was founded by weak van Wezel and uncle was action love for sport that counter him to build an innovative lightweight and instantly comfortable Squash.
    [Show full text]
  • Current Bicycle Friendly Businesses Through Fall 2016
    Current Bicycle Friendly Businesses through Fall 2016 Current Award BFB Number of Business Name Level Since Type of Business Employees City State PLATINUM Platinum 1 California - Platinum Platinum CA University of California, Davis Platinum 2013 Education 20,041 Davis CA Facebook Platinum 2012 Professional Services 5,289 Menlo Park CA Ground Control Systems (previously listed as Park a Bike) Platinum 2014 Manufacturing/Research 14 Sacramento CA Bici Centro/Santa Barbara Bicycle Coalition Platinum 2014 Non-Profit 6 Santa Barbara CA SONOS INC Platinum 2015 Telecommunications & Media 389 Santa Barbara CA Santa Monica Bike Center Platinum 2012 Bicycle Shop 11 Santa Monica CA Colorado - Platinum Platinum CO City of Fort Collins Platinum 2011 Government Agency 551 Fort Collins CO New Belgium Brewing Company Platinum 2009 Hospitality/Food/Retail 410 Fort Collins CO District of Columbia - Platinum Platinum Washington Area Bicyclist Association Platinum 2014 Non-Profit 18 Washington DC Idaho - Platinum Platinum ID Boise Bicycle Project Platinum 2011 Bicycle Shop 12 Boise ID Illinois - Platinum Platinum IL The Burke Group Platinum 2010 Professional Services 168 Rosemont IL Indiana - Platinum Platinum IN Bicycle Garage Indy Downtown Platinum 2016 Bicycle Shop 5 Indianapolis IN Massachusetts - Platinum Platinum MA Urban Adventours Platinum 2008 Hospitality/Food/Retail 25 Boston MA Landry's Bicycles Platinum 2008 Bicycle Shop 24 Natick MA Minnesota - Platinum Platinum MN Quality Bicycle Products Platinum 2008 Bicycle Industry 450 Bloomington MN Target
    [Show full text]
  • Boudoir & Fine Art Photography: the Intersection of Fun & Seduction
    Boudoir & Fine Art Photography: The Intersection of Fun & Seduction A Guide for First Time Clients and Veteran Boudies Monumental Arts Professional Fine Art Photography Boudoir & Fine Art Photography: Introduction So you are thinking about a Boudoir & Fine Art photography session – how exciting! But what is a boudoir & Fine Art session? Sounds simple – it’s just a sexy portrait session, right? Yes, no, and maybe, all at once! Boudoir is a unique and intimate style of photography – and whether you're looking for a romantic, glamour, pin-up, or fantasy session, it takes a big step to jump right in. Boudoir photography is a broad genre of photography that involves female subjects in sensual and suggestive poses. It is distinct from erotic photography in its emphasis on the aesthetic qualities of the subject and the craftsmanship of the photographic process over the sexually stimulating nature of the image. So, whether you are a veteran in front of the camera or brand new to the role, there are some things you should know about Boudoir & Fine Art photography. Tasteful, Private, and Confidential Sessions One of the top questions I’m asked regarding boudoir is “will these be online”? I have photographed over 300 boudoir sessions since I started in 2012 – most are completely private and are never seen online. In other words, if you don’t want your images shown on my website as examples, they never will be! I guarantee “Tasteful, Private, and Confidential Sessions!” Boudoir & Fine Art Styles Boudoir: Boudoir, as mentioned above, typically involves female subjects in sensual and suggestive poses.
    [Show full text]
  • Program of Events
    D IRECT S ELLING A SSOCIATION Program of Events June 9-11, 2013 | Phoenix | http://annualmeeting.dsa.org Saturday, June 8 9:00 a.m. – 10:30 a.m. DSEF Executive Committee Meeting Desert Suite II 10:30 a.m. – Noon DSEF Joint Communications & Development Desert Suite I LANCE Committee Meeting 11:00 a.m. – 1:00 p.m. DSA Executive Committee Meeting Desert Suite VII G Noon – 7:00 p.m. DSA Registration Open Grand Canyon Ballroom Foyer A 1:00 p.m. – 3:00 p.m. DSA Board of Directors Meeting Grand Sonoran Ballroom F 1:00 p.m. – 6:00 p.m. Exhibitor Set-Up Grand Canyon Ballroom 3:30 p.m. – 5:30 p.m. DSEF Board of Directors Meeting Grand Sonoran Ballroom F AT 6:00 p.m. – 7:00 p.m. DSA Supplier Reception Grand Sonoran Ballroom A-B 7:00 p.m. – 8:00 p.m. DSA/DSEF Board of Directors Reception Wildflower Salon A 8:00 p.m. – 10:00 p.m. DSA/DSEF Board of Directors Dinner Wildflower Salon B&C Sunday, June 9 7:00 a.m. – Noon DSEF Golf Tournament Wildfire Golf Club 8:00 a.m. – 1:00 p.m. Exhibitor Set-Up Grand Canyon Ballroom CHEDULE 8:00 a.m. – 9:00 p.m. DSA Registration Open Grand Canyon Ballroom Foyer S Noon – 9:00 p.m. Cyber Café Open Grand Canyon Ballroom Foyer 12:30 p.m. – 3:00 p.m. WFDSA Board of Directors Meeting Desert Suite IV 1:00 p.m. – 3:00 p.m.
    [Show full text]
  • Robert!Lighthizer!
    ! ! August!31,!2018! ! The!Honorable!Robert!Lighthizer! United!States!Trade!Representative! 600!17th!Street!NW! Washington,!DC!20508! ! ! Dear!Ambassador!Lighthizer:! ! As!the!trade!association!for!the!US!snow!sports!industry!that!generates!$72!billion!in!retail! spending!annually,!we!are!writing!to!express!our!concerns!over!the!recently!announced!tariffs! on!$200!billion!on!consumer!goods!from!China.!! ! This!action!concerns!us!for!a!number!of!reasons:! ! •! The!products!of!our!concern!are!ski!gloves!(HTSUS!subheadings!4203.21.55!and! 4203.21.60),!knit!hats!(HTSUS!subheadings!6505.00.50!and!6505.00.60),!safety!headgear! (HTSUS!subheadings!6506.10.30!and!6506.10.60)!and!sports!bags!(HTSUS!subheadings! 4202.92.31,!4202.92.39,!and!4202.92.45).!It!is!our!understanding!that!the!proposed!additional! duties!are!intended!to!pressure!the!Chinese!government!to!eliminate!certain!acts,!policies,!and! practices!that!the!United!States!has!determined!to!be!harmful!to!its!economic!interests!such!as! industrial!policies!in!support!of!China’s!efforts!to!rely!exclusively!on!high!tech!goods! manufactured!in!China,!theft!of!intellectual!property!from!U.S.!companies,!and!related!acts,! policies,!and!practices.!The!products!of!interest!to!SIA!are!not!the!type!of!products!that!are!the! targets!of!the!Chinese!acts,!policies,!and!practices!of!concern!to!the!United!States!and! imposition!of!additional!duties!on!these!products!therefore!would!not!aid!the!goal!of!China! eliminating!such!acts,!policies,!and!practices.! ! •! The!USTR!has!specifically!asked!for!comments!on!whether!imposing!additional!duties!on!
    [Show full text]
  • RBC Nymeyer-Scrimgeour North American Value Technical & Quantitative Roc Securities CAD Hedged
    July 2016 RBC Nymeyer-Scrimgeour North American Value Technical & Quantitative RoC Securities CAD Hedged GLOBAL INVESTMENT SOLUTIONS FOR THE INFORMATION OF INVESTORS IN OUTSTANDING RBC NYMEYER-SCRIMGEOUR NORTH AMERICAN VALUE TECHNICAL & QUANTITATIVE ROC SECURITIES CAD HEDGED ONLY Investment Objective: EQUITY INVESTMENT - JULY 2016 The RBC Nymeyer-Scrimgeour North American Value Dividend Technical & Quantitative RoC Securities CAD Hedged Sector Index Symbol Company Weight Yield (%) Rank have been designed to provide investors with "long" Energy S&P 1500 NOG Northern Oil and GasGLOBAL Inc INVESTMENT3.50% SOLUTIONS0.00 3 exposure to RBC's proprietary 6-factor quantitative S&P 1500 ATW Atwood Oceanics Inc 3.50% 0.00 22 models, with the ability to allocate to Fixed Income S&P/TSX ERF Enerplus Corp 1.50% 1.41 6 Investments based on whether the shares in the Materials S&P/TSX LUC Lucara Diamond Corp 1.50% 1.72 2 S&P/TSX Composite Index (“S&P/TSX”) and the S&P S&P/TSX THO Tahoe Resources Inc 1.50% 1.60 5 S&P/TSX TRQ Turquoise Hill Resources Ltd 1.50% 0.00 9 1500® Composite Index (“S&P 1500”) exhibit bearish S&P/TSX AEM Agnico Eagle Mines Ltd 1.50% 0.60 10 trends to such an extent that an insufficient number S&P/TSX FM First Quantum Minerals Ltd 1.50% 0.22 13 of shares are eligible to be selected by the Models S&P/TSX LIF Labrador Iron Ore Royalty Corp 1.50% 8.06 17 for notional inclusion in the Equity Investments, S&P/TSX TCK.B Teck Resources Ltd 1.50% 0.59 21 while at the same time providing a partial hedge of S&P 1500 RYAM Rayonier Advanced
    [Show full text]
  • DFA Canada Canadian Vector Equity Fund - Class a As of July 31, 2021 (Updated Monthly) Source: RBC Holdings Are Subject to Change
    DFA Canada Canadian Vector Equity Fund - Class A As of July 31, 2021 (Updated Monthly) Source: RBC Holdings are subject to change. The information below represents the portfolio's holdings (excluding cash and cash equivalents) as of the date indicated, and may not be representative of the current or future investments of the portfolio. The information below should not be relied upon by the reader as research or investment advice regarding any security. This listing of portfolio holdings is for informational purposes only and should not be deemed a recommendation to buy the securities. The holdings information below does not constitute an offer to sell or a solicitation of an offer to buy any security. The holdings information has not been audited. By viewing this listing of portfolio holdings, you are agreeing to not redistribute the information and to not misuse this information to the detriment of portfolio shareholders. Misuse of this information includes, but is not limited to, (i) purchasing or selling any securities listed in the portfolio holdings solely in reliance upon this information; (ii) trading against any of the portfolios or (iii) knowingly engaging in any trading practices that are damaging to Dimensional or one of the portfolios. Investors should consider the portfolio's investment objectives, risks, and charges and expenses, which are contained in the Prospectus. Investors should read it carefully before investing. Your use of this website signifies that you agree to follow and be bound by the terms and conditions of
    [Show full text]
  • K2 Sports Upgrades B2B Ecommerce with Emerald's Elastic Suite Platform
    K2 Sports Upgrades B2B eCommerce With Emerald’s Elastic Suite Platform Iconic Winter Sports Brand Enhances Wholesale Purchasing Interface with Retailers NEW YORK, NY. (January 21, 2021) — Emerald Holding, Inc. (“Emerald”) today announced that legendary ski, snowboard and winter outdoor equipment manufacturer, K2 Sports, has deployed Emerald’s Elastic Suite, a next-generation B2B ecommerce and digital merchandising solution. The rollout of Elastic Suite signifies a major upgrade to K2 Sports’ wholesale ecommerce capabilities whose retailers can now virtually access K2 Sports’ multiple product lines via the latest digital merchandising technology resulting in a more strategic, streamlined and sustainable wholesale purchasing process. “Elastic Suite is paving the way to quickly becoming known as the standard B2B ecommerce solution among brands and retailers; the addition of K2 Sports is indicative of this growing trend,” said Josh Reddin, EVP of Elastic Suite. “To connect our industry-leading virtual wholesale merchandising technology with such an iconic and historic brand as K2 is an opportunity we greatly appreciate. Our entire team is highly energized to be working on their behalf.” By deploying Elastic Suite, all of K2 Sports’ product categories and lines of skis, snowboards, helmets and apparel are now featured on a single platform featuring an intuitive virtual interface that allows wholesale buyers to strategically browse, sort, customize and complete orders. Custom digital catalogs also contribute to a more cost effective and environmentally friendly B2B sales process and aligns with the sustainability values shared by both K2 and Emerald. “For the benefit of our retailers, we’ve been anticipating an upgrade to our B2B sales process to best serve our brands for some time now and looked at many potential technology providers to assist us,” said Russell Giamarino, K2 Sports, IT Director.
    [Show full text]
  • Irving S. Scher Richard M. Greenwald Nicola Petrone Editors
    Irving S. Scher Richard M. Greenwald Nicola Petrone Editors Snow Sports Trauma and Safety Conference Proceedings of the International Society for Skiing Safety: 21st Volume Snow Sports Trauma and Safety Irving S. Scher • Richard M. Greenwald Nicola Petrone Editors Snow Sports Trauma and Safety Conference Proceedings of the International Society for Skiing Safety: 21st Volume Editors Irving S. Scher Richard M. Greenwald Guidance Engineering and Applied Thayer School of Engineering Research Dartmouth College, Simbex Seattle, WA, USA Lebanon, NH, USA Applied Biomechanics Laboratory University of Washington Seattle, WA, USA Nicola Petrone Department of Industrial Engineering University of Padova Via Gradenigo, Padova, Italy ISBN 978-3-319-52754-3 ISBN 978-3-319-52755-0 (eBook) DOI 10.1007/978-3-319-52755-0 Library of Congress Control Number: 2017938285 © The Editor(s) (if applicable) and The Author(s) 2017. This book is an open access publication Open Access This book is distributed under the terms of the Creative Commons Attribution- Noncommercial 2.5 License (http://creativecommons.org/licenses/by-nc/2.5/) which permits any noncommercial use, distribution, and reproduction in any medium, provided the original author(s) and source are credited. The images or other third party material in this book are included in the work’s Creative Commons license, unless indicated otherwise in the credit line; if such material is not included in the work’s Creative Commons license and the respective action is not permitted by statutory regulation, users will need to obtain permission from the license holder to duplicate, adapt or reproduce the material. This work is subject to copyright.
    [Show full text]
  • Lady Bra-Bra/6
    WWD Section II ASSISTANTS: CATHERINE PERIDIS AND DANICA TERLITSKY PERIDIS AND DANICA TERLITSKY CATHERINE ASSISTANTS: Spring’s freshest crop of lingerie has arrived, delivering breezy layers, fl irty details and bright bursts of color. Here, Ari Dein’s silk chemise over Puma Body Train’s poly-liquid titanium and spandex sports bra. For more, see pages 14 to 19. CornThe Shape of Things to Come/8 | The Season’s Star Key Trends/20 | Lady Bra-Bra/6 MODEL: SVIETA/ WOMEN DIRECT; HAIR BY MICHELE SALVADORI FOR MARIO DIAB SALON NY; MAKEUP BY MIZU FOR MAYBELLINE NEW YORK; FASHION NEW YORK; MIZU FOR MAYBELLINE MAKEUP BY NY; FOR MARIO DIAB SALON MICHELE SALVADORI HAIR BY WOMEN DIRECT; MODEL: SVIETA/ PHOTO BY DONNA DEMARI; STYLED BY BOBBI QUEEN 2 WWD MONDAY, JULY 25, 2011 SECTION II WWD.COM XXXXXXXXXXXX WWDINTIMATES/UNDERCURRENTS Innie or Outie? LINGERIE MIGHT BE among the hottest fashion accessories in Hollywood, but some- times a look can be overplayed or under- played, depending on a celeb’s personal taste level. WWD asked several entertainment divas an important question: Is innerwear as out- erwear a fashion do or a fashion don’t? Here, an eclectic mix of celeb yeas and nays. — MARCY MEDINA “For me it’s a fashion don’t because I have breasts and a bum, so it’s accentuated. But if you have a body like Kate Moss, you can get away with it really well.” — Alice Eve ▲ “I like the ‘undone’ look of being able to see a bra under the shirt or dress. But if it takes you six hours to look undone, it’s not good.
    [Show full text]
  • Manhattan Retail Marketview
    Manhattan Retail MarketView Q2 2014 CBRE Global Research and Consulting U.S. CONSUMER CONFIDENCE NYC JOB COUNT U.S. JOBS ADDED NYC PRIVATE SECTOR EMPLOYMENT (JUN ’14) 85.2 (JUN ’14) 20,700 (JUN ’14) 288,000 (MAY 2013-MAY 2014) 2.3% Market Overview Retail News In June, U.S. employers added 288,000 store with a location in Chelsea, will open jobs, marking the fifth consecutive its second Manhattan store at 26 Greene • Thor Equities is under contract to month when more than 200,000 jobs Street in SoHo. Likewise, Zimmerman, an acquire roughly 50,000 sq. ft. of retail were added.1 This drove down the Australian clothing and swimwear retailer at 530 Fifth Avenue for $595 million unemployment rate to 6.1%, the lowest with a location in SoHo, will open a store and recently closed on the purchase of reading since September 2008.2 The U.S. in the Meatpacking District. Additionally, 685 Fifth Avenue for $475 million. Consumer Confidence index reached 85.2 Italian men’s fashion retailer Caruso will in June, its highest since January 2008.3 open its first U.S. store at 45 East 58th • J. Crew, Paul Smith and Posman Books Meanwhile, U.S. retail sales rose from April Street, an 11,000-sq.-ft. flagship in the recently signed leases at Brookfield to May by 0.3%, driven by sales of motor Plaza District. Place and will join tenants such as vehicles and home-improvement materials, Theory, Michael Kors, and Hermès, which typically surge in the spring.4 Swedish-based fast-fashion retailer H&M bringing the property to 85% leased.
    [Show full text]
  • Board Shareholder Confidence Index (BSCI) 2013
    Board Shareholder Confidence Index (BSCI) 2013 Developed in spring 2003, the Board Shareholder Confidence Index comprises of factors often used by active shareholders to assess Boards of Directors*. While there are other variables not in our model that contribute to the effectiveness of Boards -- including elements that can only be observed from inside the boardroom -- we capture factors affecting shareholders’ confidence in the Boards’ abilities to fulfill their duties. These factors are different from the TSX Guidelines for effective corporate governance in that they take into account the shareholders’ perception of risk. Based on factors available to those outside the walls of the boardroom, we evaluate and rank Boards of Directors by their potential to act in an effective way and by their performance, as indicated by past practices. The score is developed using four linked steps. The result is a transparent, objective, and adaptable rating system that assigns companies listed on the S&P/TSX Composite Index a score out of 150. *We have updated the BSCI scoring criteria in 2013. Please see the BSCI 2013 Methodology for further details. Sections in Report:: 1 - Totals (7 pages) 2 - Individual Potential (9 pages) 3 - Group Potential (6 pages) 4 - Board Decision Output (5 pages) Joseph L. Rotman School of Management Tel: (416) 978-8998 105 St. George Street, Toronto, Ontario M5S 3E6 1/32 Email: [email protected] TOTALS Joseph L. Rotman School of Management Tel: (416) 978-8998 105 St. George Street, Toronto, Ontario M5S 3E6 2/32 Email: [email protected] 2013 Board Shareholder Confidence Index TOTALS Information on scoring can be found here: BSCI 2013 Methodology INDIVIDUAL BOARD DECISION Ticker Company POTENTIAL GROUP POTENTIAL OUTPUT Total Deductions Score /150 Maximum Deduction -29 -50 -71 -150 AAV Advantage Oil and Gas Ltd -13 -5 -39 -57 93 ABX Barrick Gold Corporation -10 -8 -8 -26 124 ACO.X ATCO Ltd.
    [Show full text]