I-Bytes Retail & Consumer Goods Industry

IT Shades
Engage & Enable
I-Bytes
Retail & Consumer Goods
November Edition 2019
Email us - solutions@itshades.com
Website : www.itshades.com

IT Shades
Engage & Enable
For any queries, Please write to marketing@itshades.com
About Us
Who We are Aim of this IByte Reasons to talk to us
ITShades.com has been founded with
singular aim of engaging and
enabling the best and brightest of
businesses, professionals and
students with opportunities,
learnings, best practices,
collaboration and innovation from IT
industry.
This document brings together a set
of latest data points and publicly
available information relevant for
Retail & Consumer Goods Industry.
We are very excited to share this
content and believe that readers will
benefit from this periodic publication
immensely.
1. Publishing of your company’s solutions/
announcements in this document.
2. Subscribe to this and other periodic
publications i.e. I-Bytes, Solution Letters from
ITShades.com.
3. For placement of your company's click-able
logo and advertisements.
4. Feedback for us to improve the content and
format of these periodic publications.

IT Shades
Engage & Enable
Feel free to contact us at marketing@itshades.com for any queries
Sponsoring Companies for this Edition
LOGO 1 LOGO 2 LOGO 3
LOGO 4 LOGO 5

IT Shades
Engage & Enable
Table of Contents
1. Financial, M & A Updates...................................................................................................................................1
2. Solution Updates................................................................................................................................................43
3. Rewards and Recognition Updates..................................................................................................................47
4. Customer Success Updates................................................................................................................................60
5. Partnership Ecosystem Updates.......................................................................................................................61
6. Miscellaneous Updates.......................................................................................................................................75
7. Event Updates.....................................................................................................................................................77

IT Shades
Engage & Enable
Financial, M & A Updates
Retail & Consumer Goods Industry

Lorem
ipsum
dolor sit
amet,
consec-
tetuer
Financial, M&A Updates
IT Shades
Engage & Enable
Altria (USA) Reports 2019 Third-Quarter and Nine-Months Results; Announces New 2020 - 2022
Adjusted Diluted EPS Growth Objective to Advance Strategic Business Platform
• Net revenues increased 0.3% to $6.9 billion, primarily due to higher net revenues in the smokeless
products segment. Revenues net of excise taxes increased 2.3% to $5.4 billion.
• Reported diluted EPS decreased 100%+ to ($1.39), primarily driven by the impairment of JUUL equity
securities, 2019 Cronos-related special items and higher interest expense, partially offset by higher reported
operating companies income (OCI), lower income taxes and higher reported earnings from Altria’s equity
investment in ABI.
• Adjusted diluted EPS increased 10.2% to $1.19 primarily driven by higher adjusted OCI in the smokeable
and smokeless products segments, lower spending as a result of Altria’s decision in 2018 to refocus its
innovative products efforts and higher adjusted earnings from Altria’s equity investment in ABI, partially
offset by higher interest expense.
First Nine Months
• Net revenues decreased 0.8% to $19.1 billion, primarily due to lower net revenues in the smokeable
products segment. Revenues net of excise taxes increased 1.0% to $15.0 billion.
• Reported diluted EPS decreased 91.1% to $0.27, primarily driven by the impairment of JUUL equity
securities, 2019 Cronos-related special items, higher interest expense (which includes acquisition-related
costs associated with the JUUL and Cronos transactions) and lower reported earnings from Altria’s equity
investment in ABI, partially offset by higher reported OCI and lower income taxes.
• Adjusted diluted EPS increased 4.9% to $3.19, primarily driven by higher adjusted OCI in the smokeable
and smokeless products segments, lower spending as a result of Altria’s decision in 2018 to refocus its
innovative products efforts and higher adjusted earnings from Altria’s equity investment in ABI, partially
offset by higher interest expense.
Executive Commentary
“Our core tobacco businesses delivered excellent third-quarter financial results,” said Altria’s
Chairman and Chief Executive Officer. “Our 2019 plans remain on track, and we reaffirm our guidance
to deliver full-year 2019 adjusted diluted EPS growth of 5% to 7%.We continue to believe the
evolution of the tobacco industry represents a significant opportunity for Altria. We marked major
milestones in our transformation journey this year, including launching IQOS and completing the on!
transaction. We believe that, with current adult smoker trends and e-vapor disruption, it’s an opportune
time to expand the availability of these options.”
1For more details, please click the link below:
http://investor.altria.com/file/Index?KeyFile=400742924
Key Financial Highlights

IT Shades
Engage & Enable
Amazon.com (USA) Announces Third Quarter Sales up 24% to
$70.0 Billion
• Operating cash flow increased 33% to $35.3 billion for the trailing twelve months, compared with
$26.6 billion for the trailing twelve months ended September 30, 2018.
• Free cash flow increased to $23.5 billion for the trailing twelve months, compared with $15.4 billion
for the trailing twelve months ended September 30, 2018.
• Free cash flow less principal repayments of finance leases and financing obligations increased to
$14.6 billion for the trailing twelve months, compared with $8.1 billion for the trailing twelve months
ended September 30, 2018.
• Free cash flow less equipment finance leases and principal repayments of all other finance leases and
financing obligations increased to $10.5 billion for the trailing twelve months, compared with $5.4
billion for the trailing twelve months ended September 30, 2018.
• Common shares outstanding plus shares underlying stock-based awards totaled 511 million on
September 30, 2019, compared with 507 million one year ago.
• Net sales increased 24% to $70.0 billion in the third quarter, compared with $56.6 billion in third
quarter 2018. Excluding the $500 million unfavorable impact from year-over-year changes in foreign
exchange rates throughout the quarter, net sales increased 25% compared with third quarter 2018.
• Operating income decreased to $3.2 billion in the third quarter, compared with operating income of
$3.7 billion in third quarter 2018.
• Net income decreased to $2.1 billion in the third quarter, or $4.23 per diluted share, compared with
net income of $2.9 billion, or $5.75 per diluted share, in third quarter 2018.
“We are ramping up to make our 25th holiday season the best ever for Prime customers — with
millions of products available for free one-day delivery,” said Amazon founder and CEO.
“Customers love the transition of Prime from two days to one day — they’ve already ordered
billions of items with free one-day delivery this year. It’s a big investment, and it’s the right
long-term decision for customers. And although it’s counterintuitive, the fastest delivery speeds
generate the least carbon emissions because these products ship from fulfillmentcenters very
close to the customer — it simply becomes impractical to use air or long ground routes. Huge
thanks to all the teams helping deliver for customers this holiday.”
https://ir.aboutamazon.com/news-releases/news-release-details/amazoncom-announces-third-quarter-sales-24-700-billion

IT Shades
Engage & Enable
ADM (USA) Reports Third Quarter Earnings of $0.72 per Share,
$0.77 per Share on an Adjusted Basis
• EPS as reported of $0.72 includes a charge of $0.08 per share related to asset
impairment and restructuring charges, a $0.02 per share credit related to LIFO,
and a $0.01 per share tax benefit related to the U.S. tax reform transition tax
and certain other discrete items. Adjusted EPS, which excludes these items,
was $0.77.
• Corporate results also included non-cash early retirement charges and global
workforce restructuring charges of $47 million ($0.07 per share) and a LIFO
credit of $16 million ($0.02 per share).
• Corporate results included non-cash early retirement charges and global
workforce restructuring charges of $47 million ($0.07 per share) and a LIFO
credit of $16 million ($0.02 per share).
• Segment operating profit of $758 million for the quarter includes charges
related to asset impairment and restructuring activities of $6 million ($0.01 per
share).
• Net earnings of $407 million. Solid results despite challenging external
conditions. Strong year-over-year growth in Nutrition revenue and
profitability
“We delivered solid third quarter results, consistent with the perspectives
we provided last quarter, despite a difficult external environment,” said
Chairman and CEO. “We maintained our focus on serving our customers
and advancing our strategic goals and continued to realize the benefits of
the actions that we took earlier this year.“We are excited about our strategic
growth activities, and particularly our participation and leadership in major
global trends such as flexitarian diets, nutrition for health, and sustainable
materials. We have invested in assets, platforms and technological
capabilities to serve and grow with our customers, who are embracing
these market-changing trends.
https://www.adm.com/news/news-releases/adm-reports-third-quarter-earnings-of-0-72-per-share-0-77-per-share-on-an-adjusted-basis

IT Shades
Engage & Enable
Bunge (USA) Reports Third Quarter 2019 Results
• Q3 GAAP EPS of $(10.57) vs. $2.39 in the prior year; $1.41 vs. $2.52 on an
adjusted basis
• Results included ~$1.7 billion of charges related to portfolio initiatives, primarily
the formation of the joint venture for the Brazilian Sugar & Bioenergy business
• Agribusiness managed challenging markets well and benefited from approximately
$25 million of net mark-to-market gains, which included $95 million of new gains on
forward soy crush margin contraction
• Food & Ingredients performed well, driven by strength in Edible Oils
• Progress continues on streamlining global business structure
• Cash used by operations in the nine months ended September 30, 2019 was
approximately $1.3 billion compared to cash used of approximately $3.3 billion in
the same period last year. The year-over-year variance was primarily due to a smaller
inventory build this year. Trailing four-quarter adjusted funds from operations was
approximately $1.0 billion as of the quarter ended September 30, 2019.
• Income taxes for the nine months ended September 30, 2019 were $70 million,
which included notable tax benefits of $30 million. The prior year included a $15
million notable tax benefit.
Bunge's Chief Executive Officer, commented, “We navigated uncertain and
deterioratingmarket conditions well. While we expect headwinds to continue, we
are making progress on our keypriorities. We have improved our operational
execution, as well as our discipline around riskmanagement. Our decision to
combine our global and North American headquarters in St. Louis is animportant
step in the work underway to streamline our global business structure. We will
continue tofocus on the business drivers within our control as we execute our
mission of delivering results anddriving increased returns to shareholders.”
https://www.bunge.com/news/bunge-reports-third-quarter-2019-results

IT Shades
Engage & Enable
Coca-Cola (USA) Reports Continued Strong Results in Third
Quarter; Updates Full Year Guidance
• Revenues: Net revenues grew 8% to $9.5 billion. Organic revenues
(non-GAAP) grew 5%. Revenue growth was driven by price/mix growth of
6%, partially offset by a 2% decline in concentrate sales.
• Margin: Operating margin, which included items impacting comparability,
was 26.3% versus 29.8% in the prior year. Comparable operating margin
(non-GAAP) was 28.1% versus 30.7% in the prior year. Margins were
unfavorably impacted by a 260 basis point headwind from currency and net
acquisitions.
• Earnings per share: EPS grew 37% to $0.60. Comparable EPS (non-GAAP)
declined 2% to $0.56. Comparable EPS performance included the impact from
a 6-point currency headwind.
• Market share: The company continued to gain value share in total
nonalcoholic ready-to-drink (NARTD) beverages.
• Cash flow: Year-to-date cash from operations was $7.8 billion, up 37%
largely due to strong underlying growth, working capital initiatives and the
timing of tax payments. Year-to-date free cash flow (non-GAAP) was $6.6
billion, up 41%.
"Our performance gives us confidence that our strategies are taking hold
with our consumers, customers and system," said Chairman and CEO of
The Coca-Cola Company. "We are positioning the company to create a
better shared future for all of our stakeholders by delivering on our vision
and growing sustainably."
https://www.coca-colacompany.com/press-center/press-releases/coca-cola-reports-continued-strong-results-in-third-quarter

IT Shades
Engage & Enable
Colgate (USA) Q2 Net Sales up 4.5% and Net Profit up 24%
• Net Sales of Rs. 1,213.2 crore for the second quarter of the financial year
2019-20, an increase of 4.5% over the same quarter of the previous year led by a
domestic net sales growth of 5%.
• Net profit after tax for the quarter was Rs. 244.1 crore as against the Net Profit
of Rs. 196.4 crore for the same quarter of the previous year. Excluding the impact
of statutory tax rate change and prior year tax reversals in previous year, the Net
profit after tax has decreased by 7% in the current year.
• Net Sales for the half year ended September 30, 2019 was recorded at Rs.
2,289.2 crore, an increase of 4.3% over the same period of the prior year.
• Domestic net sales growth for the half year ended September 30, 2019 reported
at 5.3%. Reported Net Profit for the same period was Rs. 413.2 crore.
• The Board declared a First Interim Dividend for the Financial Year 2019-20 of
Rs. 12 per share of Re 1 each (face value). The dividend payout to the
shareholders will be Rs. 393.5 Crore (inclusive of the dividend distribution tax of
Rs. 67.1 Crore) and will be paid on and from November 15, 2019 to those
shareholders whose names are on the Register of Members of the Company as on
November 6, 2019.
Managing Director at Colgate-Palmolive (India) Ltd, said, “Despite category
headwinds in the current quarter, especially in rural and liquidity challenges in
the market, we have reported a domestic net sales growth of 5%, that is in line
with our expectations. We continue to remain focussed on driving innovation
in the market, investing behind our brands through advertising and brand
building activities and strengthening our distribution infrastructure in the
market.
https://www.colgateinvestors.co.in/news/colgate-q2-net-sales-up-45-and-net-profit-up-24/

Lorem
ipsum
dolor sit
amet,
consec-
tetuer
IT Shades
Engage & Enable
MARV and Coty Inc. (USA) Announce New Fragrance
Agreement
Coty Inc. and Matthew Vaughn announced a global creative partnership to launch a new line
of Kingsman fragrances for men, to be sold at select luxury retailers. The first release will
debut alongside the upcoming MARV and 20th Century Fox title The King’s Man, in
February 2020. Matthew Vaughn is director, writer and producer of the Kingsman film
series, whose smash hit films Kingsman: The Secret Service (2014) and Kingsman: The
Golden Circle (2017) have inspired several groundbreaking luxury retail partnerships,
including the successful KINGSMAN luxury men’s wear and accessories collection by MR
PORTER and Vaughn, currently in its 10th season.Coty is one of the world’s largest beauty
companies with an iconic portfolio of brands across fragrance, color cosmetics, hair color
and styling, and skin and body care. Coty is the global leader in fragrance, a strong number
two in professional hair color& styling, and number three in color cosmetics. Coty’s products
are sold in over 150 countries around the world. Coty and its brands are committed to a range
of social causes as well as seeking to minimize its impact on the environment.MARV Studios
is the production company of maverick British filmmaker Matthew Vaughn, who specialises
in genre-redefining films. His films have garnered over $2.6 billion at the global box office,
making him one of Britain’s most successful and critically acclaimed independent
filmmakers.
President Coty Luxury, added, “As a unique, quintessentially-British lifestyle
brand,Kingsman fits perfectly within Coty Luxury’s portfolio and nicely complements
our strong luxury men’s fragrance business. Through our combined strength in
storytelling and Coty’s marketing and commercial expertise, we are uniquely positioned
to translate the Kingsman universe into a success in fragrances.”
Description
https://investors.coty.com/news-events-and-presentations/news/news-details/2019/MARV-and-Coty-Inc-Announce-New-Fragrance-Agreement/default.aspx

IT Shades
Engage & Enable
Coca-Cola Femsa(Mexico) Announces Results For Third Quarter
And First Nine Months Of 2019
• Volumes increased in Brazil and Central America, while remaining
stable in Mexico; transactions outperformed volumes in Argentina and
Brazil.
• Revenues increased 10.3%, while comparable revenues grew 11.6%.
Solid pricing, revenue management initiatives across our operations,
volume growth in Brazil and Central America, and extraordinary other
operating revenues related to tax reclaims in Brazil were partially offset
by unfavorable currency translation effects mainly from the Argentine
and Colombian Peso.
• Operating income increased 21.4%, while comparable operating
income increased 22.8%. A favorable price mix, stable raw material
prices, operating expense efficiencies, and extraordinary tax effects in
Brazil were partially offset by higher concentrate costs and the
depreciation of all of our operating currencies as applied to our U.S.
dollar-denominated raw material costs.
• Earnings per share1 were Ps. 0.24 (Earnings per unit were Ps. 1.92 and
per ADS were Ps. 19.17).
Coca-Cola FEMSA’s CEO, commented: “I am encouraged by our
positive operating performance across our divisions. In Mexico and
Central America, our solid top-line growth was underscored by our
resilient Mexico operation—where our affordability, portfolio
innovation, and commercial initiatives are enabling us to drive price
mix improvements—coupled with solid volume growth in Central
America, driven by our improved route to market. In South America,
I am pleased by the turnaround of our Brazilian operation, which
continues to post solid volume performance, as it builds on two years
of continuous growth. This is driven by our relentless focus on our
consumers, resulting in market share gains across key categories. In
addition, our Colombia operation’s single-serve affordability strategy
is gaining traction as we focus on the profitability of our portfolio.
http://www.femsa.com/en/press/coca-cola-femsa-announces-results-for-third-quarter-and-first-nine-months/

IT Shades
Engage & Enable
Group 1 Automotive (USA) Announces Third Quarter 2019
Financial Results
• Total revenue increased 7.9 percent (9.1 percent), to an all-time quarterly record of $3.1 billion.
• Total gross profit increased 7.0 percent (7.9 percent), to an all-time quarterly record of $465.6
million.
• New vehicle revenues increased 7.3 percent (8.4 percent) on a 2.4 percent increase in unit sales. New
vehicle gross profit decreased 3.1 percent (1.9 percent), to $75.2 million. U.S. Same Store new unit
sales increased 2.9 percent, outperforming the industry, which was about flat.
• Retail used vehicle revenues increased 9.8 percent (11.1 percent) on 9.6 percent higher unit sales.
Retail used vehicle gross profit increased 8.2 percent (9.2 percent), to $54.2 million. Total used vehicle
gross profit was up 9.6 percent (10.5 percent), to $54.6 million. U.S. Same Store retail used vehicle
revenue increased 14.1 percent, driven by an 11.9 percent increase in unit sales and retail used gross
profit increased 16.4 percent, reflecting the volume growth and a $54 per unit improvement in gross
profit, to $1,386 per unit.
• Parts and service gross profit increased 8.7 percent (9.6 percent) on revenue growth of 8.2 percent
(9.1 percent). U.S. Same Store parts and service revenues and gross profit grew 9.6 percent and 9.9
percent, respectively.
• Finance and Insurance (F&I) gross profit per retail unit (PRU) increased 3.9 percent (4.5 percent), to
$1,485. U.S. Same Store F&I gross profit PRU grew 3.2 percent, to $1,751.
• Selling, General and Administrative (SG&A) expenses as a percent of gross profit increased 320
basis points, to 76.0 percent. Adjusted Same Store SG&A as a percent of gross profit increased 10
basis points, to 72.8 percent.
"Our achievement of new quarterly records for total revenue and adjusted EPS in a flat U.S. new
vehicle sales market, as well as a U.K. market in political turmoil, is a testimony to the strong
operating execution of our entire team - especially in the U.S.," said Group 1's president and chief
executive officer. "Same Store U.S. gross profit growth of 16.6% in total used vehicles and 9.9%
in parts and service are both remarkable performances, which drove one of the best quarters in our
Company's history."
http://www.group1corp.com/2019-10-24-Group-1-Automotive-Announces-Third-Quarter-2019-Financial-Results

IT Shades
Engage & Enable
Hershey Reports Third-quarter 2019 Financial Results; Updates
2019 Net Sales Outlook For The Acquisition Of One Brands
• Consolidated net sales were $2,134.4 million in the third quarter of 2019 versus $2,079.6 million in the year ago period, an increase of
2.6%. The net impact of acquisitions and divestitures was a 1.2-point benefit.
• Price realization was a 1.1-point benefit, reflecting full execution of the company's 2018 price increase, partially offset by the
transitional period related to the company's July 2019 pricing announcement. These results were in line with expectations.
• Volume was a 0.5-point benefit and foreign currency exchange was a 0.2 point headwind.
• Company’s third-quarter 2019 results, as prepared in accordance with U.S. generally accepted accounting principles (GAAP), included
items impacting comparability of $18.4 million, or $0.07 per share-diluted.
• For the third quarter of 2018, items impacting comparability totaled $68.0 million, or $0.30 per share-diluted.
• Reported gross margin was 44.2% in the third quarter of 2019, compared to 41.5% in the third quarter of 2018, an increase of 270 basis
points.
• Adjusted gross margin was 44.8% in the third quarter of 2019, compared to 44.0% in the third quarter of 2018, an increase of 80 basis
points.
• Selling, marketing and administrative expenses increased 6.0% in the third quarter of 2019 versus the third quarter of 2018.
Advertising and related consumer marketing expenses increased 10.5% in the third quarter of 2019 versus the same period last year
driven by advertising increases in North America. Selling, marketing and administrative expenses, excluding advertising and related
consumer marketing, increased 3.5% versus the third quarter of 2018 driven by increased spending related to incentive compensation.
• Third-quarter 2019 reported operating profit of $460.8 million increased 13.4% versus the third quarter of 2018, resulting in an
operating margin of 21.6%, an increase of 210 basis points driven primarily by gross margin gains.
• Adjusted operating profit of $477.0 million increased 1.3% versus the third quarter of 2018. This resulted in an adjusted operating
margin of 22.3%, a decrease of 30 basis points versus the third quarter of 2018 as gross margin gains were more than offset by increased
advertising in North America and higher incentive compensation.
• The effective tax rate in the third quarter of 2019 was 20.2%, a decrease of 540 basis points versus the third quarter of 2018.
• The adjusted tax rate in the third quarter of 2019 was 20.1%, a decline of 270 basis points versus the third quarter of 2018.
“We are pleased with our third-quarter results and the momentum we are seeing in our core business,” said The Hershey Company
President and Chief Executive Officer. “Investments in our brands, capabilities and strong execution are driving solid confection
sales and share gains in both our U.S. and International markets. Our Amplify portfolio continues to deliver mid- to
high-single-digit growth. And we continue to execute against our broader snacking ambition with the acquisition of ONE Brands
and its portfolio of high-growth, better-for-you nutrition bars. We remain confident in our strategies and ability to deliver our
financial commitments for the year.”
https://www.thehersheycompany.com/content/corporate_SSF/en_us/news-detail.html?14046

Lore Lorem
ipsum
dolor sit
amet,
consec-
tetuer
IT Shades
Engage & Enable
Conagra Brands (USA) Completes Divestiture Of Direct-Store-Delivery
Model Snacks Business To Utz Quality Foods, LLC
Conagra Brands, Inc. (CAG) announced that it has completed the divestiture of the portion of its snacks business that
operates under a Direct-Store-Delivery (DSD) model to Utz Quality Foods, LLC. The brands included in the sale are
Tim's® Cascade Snacks, Hawaiian® Snacks, Erin's®, El Restaurante®, Snyder® of Berlin, Pop-N-Thin® and
Husman's®. Financial terms were not disclosed. Snacking will continue to be a critical part of Conagra's overall growth
strategy. Following the transaction, Conagra Brands has a $2 billion snacking portfolio1, with both large, iconic brands
and fast-growing, emerging brands across meat snacks, seeds, popcorn, sweet treat and specialty categories.Conagra
Brands, Inc. (NYSE: CAG), headquartered in Chicago, is one of North America's leading branded food companies.
Guided by an entrepreneurial spirit, Conagra Brands combines a rich heritage of making great food with a sharpened
focus on innovation. The company's portfolio is evolving to satisfy people's changing food preferences. Conagra's iconic
brands, such as Birds Eye®, Marie Callender's®, Banquet®, Healthy Choice®, Slim Jim®, Orville Redenbacher's®,
Reddi-wip®, DAVID®, Snack Pack®, and Vlasic®, as well as emerging brands, including Angie's®
BOOMCHICKAPOP®, Duke's®, Earth Balance®, Gardein®, and Frontera®, offer choices for every occasion.
Description
https://www.conagrabrands.com/news-room/news-conagra-brands-completes-divestiture-of-direct-store-delivery-model-snacks-business-to-utz-quality-foods-llc-prn-122708

IT Shades
Engage & Enable
ICA (Sweden) Gruppen interim report Q3 2019
• Consolidated net sales amounted to SEK 29,818 million (28,846),
an increase of 3.4%
• Operating profit excluding items affecting comparability was SEK
1,599 million (1,499). Recalculated for IFRS 16, operating profit
for the comparison period in 2018 was SEK 1,549 million
• Profit for the period was SEK 1,202 million (1,082)
• Profit includes capital losses on sales of non-current assets and
impairment losses totalling SEK -4 million net (-96)
• Earnings per share were SEK 5.96 (5.36)
• Cash flow from operating activities amounted to SEK 1,915
million (1,071)
• Excluding ICA Bank, cash flow totalled SEK 2,342 million (583).
Recalculated for IFRS 16, cash flow excluding ICA Bank 2018 was
SEK 1,467 million
• ICA Bank signed an agreement with partner companies to form a
jointly owned mortgage company
Comment from CEO“We can report yet another good quarter
with consistently stable earnings performance. The exception is
ApotekHjärtat, where sales and earnings during the quarter were
unfortunately hurt by the disruptions, we experienced during the
start-up of the automated warehouse in Norrköping. Some
exciting news that we communicated in September is that ICA
Bank has signed an agreement to collaborate with four
long-term, strong partners on the launch of a new mortgage
company that will offer home mortgages in the Swedish market.
This is a future-oriented project in which we are advancing our
position in the banking market and will be able to offer attractive,
comprehensive solutions to our customers in a better way.”
https://www.icagruppen.se/en/media/#!/press-releases/lb//en/archive/press-archive/2019/ica-gruppen-interim-report-q3-2019/

Lorem
ipsum
dolor sit
amet,
consec-
tetuer
IT Shades
Engage & Enable
Sale of Inchcape(UK) Fleet Solutions In The UK For £100m
Inchcape plc, the leading independent multi-brand automotive Distributor with global scale,
announces that it has agreed to sell its Inchcape Fleet Solutions business (“IFS”) to Toyota
Fleet Mobility GmbH (‘Toyota’) for total cash consideration of £100m. It follows recent
disposals of less productive dealerships in the UK, and Retail-only disposals in Australia and
China. Inchcape is focused on its core Distribution operations and these disposals have
meaningfully streamlined the Group along those lines. The IFS business leases fleet vehicles
and provides fleet management services to B2B customers including Toyota. The scope of
the business means there is limited synergy with Inchcape’s UK retail dealership business,
where Inchcape acts as a franchisee of brands including BMW, MINI, JLR, Mercedes, VW,
Audi, Porsche, Toyota and Lexus. The UK Retail dealership business remains strategically
important to the Group, where Inchcape is a top five partner for key OEM partners,
supporting the expansion of Group Distribution contracts since 2016. The transaction
consideration is payable in cash at completion and will give rise to a gain on disposal. In the
year to December 2018, IFS contributed revenue of £60m and trading profit of £9m. The
gross assets of IFS, as included within the Inchcape Group consolidated balance sheet, as at
30 June 2019 were £78m. The transaction is expected to complete in Q4 2019 and as such
the impact on Inchcape’s 2019 trading profit will be minimal.
GROUP CEO OF INCHCAPE PLC COMMENTED:“This transaction is a further
demonstration of strategic progress and focus on our core Distribution activities which
generate 90% of Group trading profit. We are pleased to have been able to further
streamline our UK Retail market activities by selling IFS at a good valuation. We remain
focused on our Ignite strategy which frames our operational excellence initiatives, has
driven 10 Distribution deals since 2016, and sets the foundations for capabilities that will
enable us to position Inchcape well for the future. I would like to thank our IFS team for
all their hard work and dedication and wish them success under Toyota, Inchcape’s
oldest OEM partner.”
Description
https://www.inchcape.com/en/investors-and-media/news/inchcape-news/2019/sale-of-inchcape-fleet-solutions-in-the-uk-for-p100m.html

IT Shades
Engage & Enable
ITC(India): Financial Results for the Quarter ended
30th September, 2019
• Consolidated net sales amounted to SEK 29,818 million (28,846), an increase of 3.4%
• Operating profit excluding items affecting comparability was SEK 1,599 million (1,499). Recalculated for IFRS
16, operating profit for the comparison period in 2018 was SEK 1,549 million
• Profit for the period was SEK 1,202 million (1,082)
• Profit includes capital losses on sales of non-current assets and impairment losses totalling SEK -4 million net
(-96)
• Earnings per share were SEK 5.96 (5.36)
• Cash flow from operating activities amounted to SEK 1,915 million (1,071)
• Excluding ICA Bank, cash flow totalled SEK 2,342 million (583). Recalculated for IFRS 16, cash flow excluding
ICA Bank 2018 was SEK 1,467 million
• ICA Bank signed an agreement with partner companies to form a jointly owned mortgage company
https://www.itcportal.com/media-centre/press-releases-content.aspx?id=2192&type=C&news=Financial-Results-for-the-Quarter-ended-30th-September-2019

IT Shades
Engage & Enable
Jeronimo Martins (Portugal): First Nine Months 2019 Results
• In the first nine months of the year, consolidated sales
totalled 13.7 billion euros, which corresponds to a 6.7%
year-on-year increase.
• The Group's EBITDA saw the same growth and totalled
757 million euros.
• Net income totalled 302 million euros, up 3.5%
year-on-year.
• The Group's Total Investments were 405 million euros.
MESSAGE FROM THE CHAIRMAN AND CHIEF
EXECUTIVE OFFICER: These results highlight our
banners’ remarkable ability to grow consistently faster
than the markets in which they operate. Our consumer
centric approach and the primacy given to sales, while
preserving the efficiency of the business models, are the
common drivers of our Companies' performance. In
Colombia, a more assertive strategy in terms of
assortment and price produced stronger sales growth and
provided further validation of the commercial potential
of our store network. Our banners are well prepared for
the last and most important quarter of the year. We feel
confident that we will deliver another good year both in
terms of growth and profitability.
https://www.jeronimomartins.com/en/press_releases/pr_20191023_1_en/

IT Shades
Engage & Enable
Kesko’s(Finland) Sales Grew In September 2019
• Sales in the grocery trade totalled €461.7 million in September, an
increase of 6.3%. Sales grew in all chains.
• Sales in the building and technical trade totalled €404.8 million in
September, an increase of 5.4% in comparable terms in local
currencies. Comparable sales in the building and technical trade
excluding the speciality goods trade grew by 4.3%. Sales in Finland
grew by 4.2% and sales elsewhere by 4.3%. Sales in the speciality
goods' leisure trade increased by 12.4%, while sales in the
machinery trade grew by 38.4% in comparable terms. Reported
sales in the building and technical trade increased by 9.6%.
• Sales in the car trade totalled €72.7 million in September,
representing an increase of 26.0% in comparable terms. Reported
sales increased by 48.4%. The implementation of WLTP emissions
testing on 1 September 2018 had a weakening impact on the figures
for the comparison period.
“Sales in September grew in all divisions. The sales performance
in the grocery trade and the building and technical trade was
impacted by the fact that the month had one more wholesale
selling day than the year before. In the car trade, performance
was impacted by the implementation of WLTP emissions testing
in 2018, which had a weakening impact on the figures for the
comparison period,” says Kesko’s President and CEO.
https://www.kesko.fi/en/media/news-and-releases/press-releases/2019/keskos-sales-grew-in-september/

IT Shades
Engage & Enable
Kimberly-Clark (USA) Announces Third Quarter 2019 Results
• Third quarter 2019 net sales of $4.6 billion increased 1 percent compared to the year-ago period. Organic sales increased 4
percent.
• Third quarter operating profit was $915 million in 2019 and $669 million in 2018. Results in both periods include charges
related to the 2018 Global Restructuring Program. Results in 2019 also include a gain on the sale of a manufacturing facility as
part of the restructuring.
• Third quarter adjusted operating profit was $859 million in 2019 and $798 million in 2018. Results benefited from higher net
selling prices, $50 million of cost savings from the company's FORCE (Focused On Reducing Costs Everywhere) program and
$45 million of cost savings from the 2018 Global Restructuring Program. Input costs decreased $10 million, driven by lower
raw material costs.
• The third quarter effective tax rate was 22.8 percent in 2019 and 23.9 percent in 2018. The third quarter adjusted effective tax
rate was 21.5 percent in 2019 and 19.6 percent in 2018. The rate in 2018 benefited from certain planning initiatives.
• Kimberly-Clark's share of net income of equity companies in the third quarter was $31 million in 2019 and $23 million in
2018. At Kimberly-Clark de Mexico, results benefited from organic sales growth and cost savings.
• Diluted net income per share for the third quarter was $1.94 in 2019 and $1.29 in 2018.
• Third quarter adjusted earnings per share were $1.84 in 2019 and $1.71 in 2018. Adjusted earnings per share exclude certain
items described later in this news release.
• Diluted net income per share for full-year 2019 is expected to be $5.75 to $6.00.
• Cash provided by operations in the third quarter was $886 million in 2019 and $692 million in 2018. The increase included
benefits from improved working capital and lower pension contributions.
• Third quarter 2019 share repurchases were 1.6 million shares at a cost of $214 million. The company expects full-year
repurchases of $800 million, consistent with the original target range of $600 to $900 million. Total debt was $7.8 billion at
September 30, 2019 and $7.5 billion at the end of 2018.
• The company is now targeting full-year 2019 organic sales growth of 3 to 4 percent and adjusted earnings per share of $6.75
to $6.90. The prior outlook was for organic sales growth of 3 percent and adjusted earnings per share of $6.65 to $6.80.
Chief Executive Officer said, "We delivered excellent third quarter results and we are raising our full-year outlook. We
achieved strong improvements in organic sales, profit margins and earnings per share in the quarter. In addition, we
continued to launch innovations, pursue our growth priorities and increase investments in our brands. We also generated
$95 million of cost savings and returned approximately $570 million to shareholders through dividends and share
repurchases. I'm encouraged by the progress we're making this year while we invest more for longer-term success. We
continue to be optimistic about our opportunities to deliver balanced and sustainable growth through execution of K-C
Strategy 2022."
https://kimberlyclark.gcs-web.com/news-releases/news-release-details/kimberly-clark-announces-third-quarter-2019-results

IT Shades
Engage & Enable
Kraft Heinz(USA) Reports Third Quarter 2019 Results
• Net sales were $6.1 billion, down 4.8 percent versus the year-ago period, including a
negative 2.0 percentage point impact from divestitures and an unfavorable 1.7 percentage
point impact from currency.
• Organic Net Sales decreased 1.1 percent versus the year-ago period. Pricing increased 1.0
percent versus the prior year period, reflecting higher pricing in the United States, Rest of
World and EMEA segments that more than offset lower pricing in Canada.
• Volume/mix was 2.1 percentage points below the prior year period as global growth in
condiments and sauces was more than offset by lower shipments in the United States.
• Net income attributable to common shareholders increased to $899 million and diluted EPS
increased to $0.74, primarily reflecting the gain on the sale of Canadian natural cheese
business and a non-cash impairment charge in the prior year period that was partially offset
by debt extinguishment costs associated with the tender offers.
• Adjusted EBITDA decreased 7.8 percent versus the year-ago period to $1.5 billion,
including 3.2 percentage point impact from unfavorable currency and a negative 1.4
percentage point impact from divestitures.
• Adjusted EPS decreased 9.2% percent to $0.69, reflecting lower Adjusted EBITDA, higher
taxes on adjusted earnings in the current period, and lower interest expense versus the
year-ago period.
“While our third-quarter results remain below our potential, we showed sequential
improvement versus the first half, and I believe we are beginning to operate the business
better,” said Kraft Heinz CEO. "We are making good progress in identifying and
addressing the root causes of past performance, as well as setting our strategic direction.
Although there is still much work ahead, we’re encouraged by our improving
performance, and are even more confident in our ability to turn around the Company and
set a path of long term growth and profitability.”
https://news.kraftheinzcompany.com/press-release/financial/kraft-heinz-reports-third-quarter-2019-results

Lore Lorem
ipsum
dolor sit
amet,
consec-
tetuer
IT Shades
Engage & Enable
L’Oréal (France) signs an agreement for the acquisition of Mugler and
Azzaro fragrances from Clarins Group
L’Oréal and Clarins Group signed an agreement for the sale of the Mugler brands and Azzaro fragrances through the acquisition of the
fragrance division of Clarins by L’Oréal. At the closing of the deal, this division will include the following companies: Mugler, Thierry
Mugler (Fashion), Clarins Fragrance Group (CFG), CFG France, Cosmeurop and CFG UK. These activities represented approximately
340 million euros sales in 2018. The Clarins Group owns successful, international iconic fragrance brands and benefits from a
recognized and valued know-how in the industry. Angel has revolutionized the market, Alien has built solid positions, Azzaro Pour
Homme and Chrome are classics, and Wanted and Wanted Girl appeal to Millenials. By joining L’Oréal, Mugler and Azzaro brands will
pursue their international development while benefiting from the resources of the world’s beauty leader in marketing, distribution and
innovation. The acquisition is subject to the standard conditions precedent and should be completed within the first quarter 2020 after
customary regulatory approvals.L’Oréal has devoted itself to beauty for over 100 years. With its unique international portfolio of 36
diverse and complementary brands, the Group generated sales amounting to 26.9 billion euros in 2018 and employs 86,000 people
worldwide. As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores,
pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce.
Description
https://www.loreal-finance.com/eng/news-release/loreal-signs-agreement-acquisition-mugler-and-azzaro-fragrances-clarins-group

IT Shades
Engage & Enable
McDonald's (USA) Reports Third Quarter 2019 Results
• Strong, global comparable sales of 5.9% demonstrated broad-based
strength with the International Operated segment increase of 5.6%, the
U.S. increase of 4.8%, and the International Developmental Licensed
segment increase of 8.1%.
• Consolidated revenues increased $61.2 million or 1% (3% in constant
currencies) to $5.4 billion.
• Systemwide sales increased $1.3 billion or 5% (7% in constant
currencies) to $26.0 billion.*
• GAAP diluted earnings per share of $2.11 was relatively flat with the
prior year (increased 2% in constant currencies).**
• The Company returned $2.4 billion to shareholders through share
repurchases and dividends. This brings the cumulative return to
shareholders to $22.5 billion against our targeted return of about $25
billion for the three-year period ending 2019. In addition, the Company
announced an 8% increase in its quarterly dividend to $1.25 per share
beginning in the third quarter 2019.
"Our third quarter performance was strong, and broad-based
momentum continued with our 17th consecutive quarter of global
comparable sales growth," said McDonald's President and Chief
Executive Officer. "Globally, our customers are rewarding our
commitment of running better restaurants and executing our Velocity
Growth Plan by visiting more often."
https://news.mcdonalds.com/news-releases/news-release-details/mcdonalds-reports-third-quarter-2019-results

Lorem
ipsum
dolor sit
amet,
consec-
tetuer
IT Shades
Engage & Enable
METRO AG (Germany) sells majority stake in METRO China to
Wumei
METRO AG agreed to a transaction and strategic partnership with Wumei Technology Group
(Wumei), whereby METRO AG will sell its entire stake in METRO China and receive a 20% stake in
a resulting joint venture.The transaction values METRO China at an implied total enterprise value of
€1.9 billion and EV/sales multiple of 0.7x based on its FY 2017/18 annual sales. With METRO
China’s strongly positive earnings before interest, taxes, depreciation and amortization (EBITDA) of
€153 million for FY 2017/18, the transaction achieves an EV/EBITDA multiple of 12x. Upon closing,
METRO AG expects to receive net proceeds of more than €1 billion. The current minority
shareholders in METRO China intend to divest their total 10% stake in a separate process.The
transaction is subject to customary government and regulatory approvals in China. METRO AG
expects the transaction to close by the second-quarter of calendar year 2020 at the latest.The
transaction advances METRO AG’s strategy of focusing on its wholesale business. As a result of the
transaction, the core customer groups HoReCa and Trader will account for about 70% of METRO’s
global sales. Additionally, it provides resources to accelerate growth organically and through
acquisitions.At the same time, METRO AG’s 20% stake in the joint venture allows it to explore
various strategic partnership opportunities with Wumei and its technology partner Dmall, particularly
in terms of international sourcing of goods. METRO will participate in the continued growth of the
Chinese business with enhanced prospects in a dynamic market.
CEO of METRO AG commented: “After assessing various options, we have chosen a path that
will further strengthen METRO China’s role for consumers. We welcome the investment of the
new majority owner for METRO China who shares our values and is committed to building on
our track record and footprint in China. This transaction also forms a strategic partnership that
will result in greater competitive advantages for METRO China. It will also bring about
opportunities for collaboration in commercial activities that will benefit the parties involved and
their Chinese and global stakeholders.”
Description
https://www.metroag.de/en/media-centre/news?q=mcf_investors

IT Shades
Engage & Enable
Molson Coors (USA) Announces Revitalization Plan and Reports
2019 Third Quarter Results
• Net sales: $2.8 billion, decreased by 3.2% and 2.0% in constant currency driven by volume declines, partially offset by net sales per hectoliter growth.
• Net sales per hectoliter: $113.46 on a reported financial-volume basis, increased 2.5% and net sales per hectoliter on a brand volume basis increased by
3.0% in constant currency, primarily driven by favorable net pricing in all segments and positive global mix as a result of our continued focus on
premiumizing our portfolio.
• Volume: Worldwide brand volume and financial volume decreased 2.4% and 5.5%, respectively, due to declines in all segments, partially driven by
challenging industry dynamics. Financial volume was further impacted by quarterly timing of customer inventory levels in the U.S. and Canada, as well
lower contract brewing volume.
• Cost of goods sold (COGS) per hectoliter: on a reported basis, increased 4.1% primarily driven by inflation and global volume deleverage, partially offset
by lower unrealized mark-to-market losses on our commodity positions as compared to the prior year, foreign currency movements and cost savings.
• Underlying COGS per hectoliter: increased 5.9% in constant currency primarily driven by the same factors as U.S. GAAP results excluding the impacts of
the changes in unrealized mark-to-market positions and foreign currency movements.
• U.S. GAAP net income attributable to MCBC: decreased by $741.1 million to a loss of $402.8 million, largely driven by the impact of aggregate goodwill
and intangible asset impairment charges of approximately $692 million primarily related to our Canada reporting unit. The decrease was also due to lower
volume, inflation and cycling the favorable resolution of a vendor dispute in the U.S., partially offset by positive global pricing and mix, cost savings and
lower incentive compensation, restructuring charges and marketing spend.
• Underlying net income: decreased 19.4%, primarily driven by the same factors as U.S. GAAP net income, excluding the impact of the aggregate goodwill
and intangible asset impairment charges and cycling prior year restructuring charges, as well as a higher underlying effective tax rate as compared to the prior
year.
• Underlying EBITDA: decreased 5.6% on a constant-currency basis, driven by the same factors as underlying net income, excluding the impacts of the
higher underlying effective tax rate.
• U.S. GAAP cash from operations: net cash provided by operating activities was $1,288.2 million for the nine months ended September 30, 2019, a decrease
of $503.2 million compared to the nine months ended September 30, 2018. This decrease was primarily driven by cycling the $328 million cash payment
received in January 2018 related to a purchase price adjustment for our acquisition of the Miller International Business, as well as lower net income adjusted
for non-cash add backs and higher cash paid for taxes, partially offset by lower interest paid during the nine months ended September 30, 2019.
• Underlying free cash flow: cash received of $884.8 million for the nine months ended September 30, 2019, represents a 13.7% decrease from cash received
of $1,025.4 million for the nine months ended September 30, 2018, primarily due to lower underlying EBITDA and higher cash paid for taxes, partially offset
by lower capital expenditures and lower cash paid for interest.
• Debt: Total debt at the end of the third quarter 2019 was $9.252 billion, and cash and cash equivalents totaled $410.2 million, resulting in net debt of $8.842
billion.
"Our business is at an inflection point. We can continue down the path we’ve been on for several years now, or we can make the significant and
difficult changes necessary to get back on the right track,” said CEO. “Our revitalization plan is designed to streamline the company, move faster,
and free up resources to invest in our brands and our capabilities. Through it, we will create a brighter future for Molson Coors.”
http://ir.molsoncoors.com/news/press-release-details/2019/Molson-Coors-Announces-Revitalization-Plan-and-Reports-2019-Third-Quarter-Results/default.aspx

IT Shades
Engage & Enable
Molson Coors (USA) Announces Revitalization Plan and Reports
2019 Third Quarter Results
• Net revenues increased 1.1 percent driven by Organic Net Revenue growth of 4.2%
reflecting balanced volume/mix and pricing across both emerging and developed markets,
offset by unfavorable currency impacts.
• Gross profit increased $102 million and margin increased 120 basis points to 39.6 percent,
lapping prior year mark-to-market losses from derivatives. Adjusted Gross Profit1 increased
$65 million at constant currency while margin decreased 100 basis points to 39.7 percent
primarily due to plant transition issues in Brazil and the highly inflationary environment in
Argentina.
• Operating income increased $139 million and margin was 13.8 percent, up 210 basis points
lapping prior year mark-to-market losses from derivatives. Adjusted Operating Income1
increased $46 million at constant currency, including incremental investments in
route-to-market capabilities. Adjusted Operating Income margin decreased 30 basis points
to 16.8 percent driven by the decline in Adjusted Gross Profit margin partially offset by
SG&A leverage.
• Diluted EPS was $0.98, up 21 percent, primarily due to the benefit from Swiss tax reform,
partially offset by lapping the prior-year gain from equity method investment transactions
and a 2019 loss on interest rate swaps.
• Adjusted EPS was $0.64 and grew 9.7 percent on a constant-currency basis, driven by
operating gains, higher JV income, lower taxes and share repurchases.
• Capital Return: The company returned approximately $600 million to shareholders in
common stock repurchases and cash dividends. Year-to-date, the company has returned
approximately $2.3 billion.
"We are pleased to report another quarter of strong top-line growth, continuing the
momentum of the first half, enabling us to further increase our outlook for the year. Our
strategy to accelerate growth by focusing on the consumer, driving operational
excellence and unlocking the potential of our local business units is delivering good
results from both local and global brands," said Chairman and CEO.
https://ir.mondelezinternational.com/news-releases/news-release-details/mondelez-international-reports-q3-results-and-raises-full-year

IT Shades
Engage & Enable
Murphy USA Inc. Reports Third Quarter 2019 Results
• Net income was $69.2 million, or $2.18 per diluted share, in Q3 2019 compared
to net income of $45.0 million, or $1.38 per diluted share, in Q3 2018
• Total fuel contribution (retail fuel margin plus product supply and wholesale
("PS&W") results including RINs) for Q3 2019 was 20.1 cpg compared to 16.2
cpg in Q3 2018
• Total retail gallons increased 5.3% in Q3 2019 compared to Q3 2018 and
volumes on a same store sale ("SSS") basis improved 2.7%
• Merchandise contribution dollars grew 6.4% to $111.2 million compared to the
prior-year quarter, on average unit margins of 16.3% in the 2019 third quarter and
on a SSS basis improved 6.0%
• The credit agreement was amended and restated to extend the maturity date to
August 2024 and provided for a $250 million term facility that will mature August
2023, of which $200 million was outstanding at September 30, 2019
• Called $500 million 6% Senior Notes due 2023, which resulted in a loss on early
debt extinguishment of $14.8 million, and issued $500 million of 4.75% Senior
Notes due 2029
• Common shares repurchased during the third quarter of 2019 were
approximately 1.2 million for $109.0 million at an average price of $89.51 per
share
"The third quarter performance clearly demonstrates some of the benefits of
recent investments as Adjusted EBITDA grew 51% over the prior year,
capitalizing on market share gains in both the fuels and merchandise
business," said President and CEO. "New stores are also outperforming the
network, which gives us a high level of confidence ahead of an increase in our
organic growth over the next several years. Finally, we re-financed the
balance sheet to accelerate our share repurchase activity in the third quarter,
jumpstarting the benefits we expect from our previously announced up to
$400 million share repurchase program."
http://ir.corporate.murphyusa.com/investor-relations/news-releases/press-release-details/2019/Murphy-USA-Inc-Reports-Third-Quarter-2019-Results/default.aspx

IT Shades
Engage & Enable
Newell Brands (USA) Announces Third Quarter 2019 Results
• Net sales were $2.5 billion, a 3.8 percent decline compared to the prior year period, largely attributable to the unfavorable impact of
foreign exchange and a 2.5 percent decline in core sales.
• Reported gross margin was 33.1 percent compared with 35.9 percent in the prior year period, as productivity and pricing were offset
by headwinds from foreign exchange, tariffs and inflation, as well as a cumulative catch-up adjustment to recapture the depreciation
attributable to the inclusion of Rubbermaid Commercial Products in continuing operations. Normalized gross margin was 35.1 percent
compared with 35.5 percent in the prior year period.
• The company recorded an $835 million non-cash impairment charge in continuing operations primarily related to impairment of trade
names in the Appliances & Cookware, Home Fragrance and Outdoor & Recreation divisions.
• The third quarter reported operating loss was $635 million compared with an operating loss of $7.8 billion in the prior year period,
reflecting the impact of impairment charges in both years. Normalized operating income was $312 million compared with $337 million
in the prior year period, reflecting lower sales volume and an increase in advertising and promotion expense, which offset the favorable
impact from tight cost control and productivity efforts across the organization.
• Reported operating margin was a negative 25.9 percent compared with a negative 307.4 percent in the prior year. Normalized operating
margin was 12.7 percent compared to 13.2 percent in the prior year period.
• The company reported a tax benefit of $291 million compared with a benefit of $1.2 billion in the prior year period. The normalized
tax benefit was $58.6 million compared with a benefit of $78.3 million in the prior year period.
• The company reported a net loss of $626 million, or $1.48 diluted loss per share, compared with a net loss of $7.3 billion, or $15.52
diluted loss per share, in the prior year period.
• Normalized net income for the total company was $309 million, or $0.73 diluted earnings per share, compared with $361 million, or
$0.77 diluted earnings per share, in the prior year period.
• Year-to-date operating cash flow was $424 million, compared with $182 million a year ago, reflecting strong progress on working
capital initiatives partially offset by the foregone contribution from divested businesses.
• An explanation of non-GAAP measures and a reconciliation of these non-GAAP results to comparable GAAP measures is included in
the tables attached to this release. References to normalized results in the year ago period are based on normalized metrics that are
adjusted to include Rubbermaid Commercial Products in continuing operations.
“We are pleased with the progress the company is making on its turnaround journey, with third quarter operating margin, earnings
per share and operating cash flow ahead of plan, fueled by a disciplined focus on productivity, overhead cost savings and working
capital initiatives,” said Newell Brands Chief Financial Officer. “Stronger than anticipated performance thus far in the year gives
us the confidence to raise full year guidance for normalized earnings per share to $1.63 to $1.68 and full year operating cash flow
to $700 to $850 million. We are taking decisive and strategic actions to stabilize the company’s performance in the near term and
return to sustainable profitable growth over time.”
https://ir.newellbrands.com/news-releases/news-release-details/newell-brands-announces-third-quarter-2019-results

Lorem
ipsum
dolor sit
amet,
consec-
tetuer
IT Shades
Engage & Enable
Olam (Singapore) successfully completes US$1.5 billion debt
refinancing
Global food and agri-business Olam International Limited (“Olam’’) and its wholly
owned subsidiary, Olam Treasury Pte. Ltd. (“OTPL”), have secured a multi-tranche
revolving credit facility aggregating US$1,525.0 million (the “Facility”). The
Facility consists of three tranches – a 364-day revolving credit facility of US$610.0
million, a 2-year revolving credit facility of US$457.5 million and a 3-year revolving
credit facility of US$457.5 million. Proceeds from the Facility will be applied
towards refinancing of existing loans of Olam and its subsidiaries. The lender group
includes four Senior Mandated Lead Arrangers – ABN Amro Bank N.V., The
Hongkong And Shanghai Banking Corporation Limited, National Australia Bank
Limited and Sumitomo Mitsui Banking Corporation & 15 Mandated Lead Arrangers
- Australia And New Zealand Banking Group Limited, BNP Paribas, BNS Asia
Limited, Commonwealth Bank Of Australia, DBS Bank Ltd., Emirates NBD, ING
Bank N.V., Hang Seng Bank Limited, JP Morgan Chase Bank N.A., Mizuho Bank,
Ltd., MUFG Bank Ltd, Natixis, Standard Chartered Bank, UniCredit Bank AG and
Westpac Banking Corporation. HSBC is the Facility agent.
President and Global Head of Treasury and Investor Relations of Olam said:
“This refinancing is an integral part of our ongoing efforts to proactively manage
our capital structure. I would like to thank all the participating banks for their
strong support in making this transaction a success.”
Description
https://www.olamgroup.com/news/all-news/press-release/olam-successfully-completes-us-dollar-1-point-5-billion-debt-ref.html

Lorem
ipsum
dolor sit
amet,
consec-
tetuer
IT Shades
Engage & Enable
Olam International (Singapore) expands almond ingredients capacity with acquisition
of leading Californian almond processor and ingredient manufacturer Hughson Nut
Global food and agri-business Olam International Limited (Olam), announced that it
has signed a purchase agreement to acquire a 100% interest in leading Californian
almond processor and ingredient manufacturer Hughson Nut Inc (HNI) and
associated real estate assets from APB Partners, LLC (APB) at a total enterprise
value of US$54.0 million. The price consideration was arrived at on a willingbuyer,
willing-seller basis. Olam is one of the world’s largest growers of almonds with
orchards in both hemispheres – in California and Australia – delivering year-round
fresh almonds to customers. The extensive processing capabilities of HNI will enable
Olam to offer a fully integrated solution across the almond value chain from the US,
including processed whole nuts and valueadded ingredients, complementing similar
capabilities in Australia and Vietnam.HNI ranks among the top five almond
processors in California. Besides its two primary processing facilities, HNI also
manufactures almond ingredients, such as sliced and diced almonds and almond flour
in its newly commissioned ingredients processing plant, which also houses steam
sterilisation and pasteurisation facilities.
Olam’s Managing Director and CEO of Edible Nuts explained: “Our ambition is
to grow Olam’s almond business into a vertically integrated player with a strong
upstream presence in Australia and the U.S. and direct participation in the
primary and ingredient processing space that can add value to our customers. We
see growing demand from consumers for healthy snacks and healthy plant protein
– this is driving growth in new product applications and therefore the demand for
almond ingredients, particularly in the U.S..
Description
https://www.olamgroup.com/news/all-news/press-release/olam-international-expands-almond-ingredients-capacity-.html

IT Shades
Engage & Enable
Penske Automotive (USA) Reports Third Quarter 2019 Results
• For the three months ended September 30, 2019, the company
reported income from continuing operations attributable to common
shareholders of $116.1 million, or $1.42 per share, compared to
$130.1 million, or $1.53 per share in the prior year.
• For the three and nine months ended September 30, 2018, income
and earnings per share from continuing operations attributable to
common shareholders included a tax benefit of $11.6 million, or
$0.14 per share, related to the final reconciliation of the income tax
benefit of the 2017 U.S. Tax Cuts and Jobs Act.
• The shift in mix of the Company's earnings to be more heavily
weighted towards the U.S. increased the effective tax rate to 26.8%
in the three months ended September 30, 2019 compared to 17.3%
in the same period last year.
• As a result, the company estimates its third quarter results were
negatively impacted by approximately $0.26 per share.
• Repurchased 1.0 Million Shares in Third Quarter and 4.0 Million
Shares Year-to-Date
"Our business produced another quarter of record revenue," said
Penske Automotive Group Chair and CEO. "I am particularly
pleased with the 30-basis points improvement in selling, general
and administrative expense as a percentage of gross profit we
achieved during the quarter, coupled with the strength in the
performance of our U.S. retail automotive businesses, including
finance and insurance gross profit, and the North American
commercial truck dealership business. Despite the challenges
from the U.K., I am very pleased with the performance of our
business in the third quarter which demonstrates the positive
impact from the Warner Truck Group acquisition and share
repurchases."
https://www.penskeautomotive.com/file/Index?KeyFile=400692307

Lorem
ipsum
dolor sit
amet,
consec-
tetuer
IT Shades
Engage & Enable
Pernod Ricard (France) Completes Acquistion Of Castle Brands
Pernod Ricard and Castle Brands Inc. announced the successful completion of the
acquisition of Castle Brands by a subsidiary of Pernod Ricard S.A., through a cash tender
offer followed by a short-form merger.As previously announced, Pernod Ricard, through one
of its subsidiaries, offered to acquire all of the outstanding common stock of Castle Brands
for $1.27 per share in cash, net of applicable withholding taxes and without interest. The
tender offer expired at Midnight, New York time, on October 8, 2019. A total of 150,335,952
shares of common stock of Castle Brands, representing approximately 89.52% of the
outstanding Castle Brands shares, were validly tendered into (and not validly withdrawn
from) the tender offer. As of such expiration, all conditions to the tender offer have been
satisfied. As a result, all such Castle Brands shares have been irrevocably accepted by
Pernod Ricard’s subsidiary for payment, which will be made on October 9,
2019.Concurrently with the payment for the tendered shares, on October 9, 2019 the offeror
merged with and into Castle Brands via a short-form merger. As a result of the tender offer
and the merger, Castle Brands became an indirect wholly owned subsidiary of Pernod Ricard
and Castle Brands’ common stock will cease trading on the NYSE American.
On this occasion, Chairman & Chief Executive Officer of Pernod Ricard, stated: “We’re
thrilled about the closing of the Castle Brands acquisition and the opportunity it offers us
in the world’s largest spirits market, the US, a priority market for the Group.”
Description
https://www.pernod-ricard.com/en/media/press-releases/pernod-ricard-completes-acquistion-castle-brands/

IT Shades
Engage & Enable
Philip Morris International (USA) Inc. Reports 2019
Third-Quarter Results
• Reported diluted EPS of $1.22, down by 15.3%; also down by 15.3%, excluding currency
• Adjusted diluted EPS of $1.43, down by 0.7%; up by 5.9% on a like-for-like basis,
excluding currency
• Cigarette and heated tobacco unit shipment volume down by 2.1%, reflecting cigarette
shipment volume down by 5.9% and heated tobacco unit shipment volume up by 84.8%; on
a like-for-like basis, cigarette and heated tobacco unit shipment volume down by 1.4%
• Market share of heated tobacco units in IQOS markets, excluding the U.S., up by 1.3 points
to 5.1%
• A charge of approximately $0.20 per share related to an excise tax and Value Added Tax
(VAT) audit in Russia
• Net revenues up by 1.8%; up by 7.0% on a like-for-like basis, excluding currency
• Operating income down by 11.7%; down by 11.3%, excluding currency
• Adjusted operating income up by 8.0% on a like-for-like basis, excluding currency
• Adjusted operating income margin up by 0.4 points to 41.2% on a like-for-like basis,
excluding currency
• Increased the regular quarterly dividend by 2.6% to an annualized rate of $4.68 per
common share
• IQOS introduced for sale in the U.S. following its marketing order authorization by the U.S.
Food and Drug Administration
• New IQOS 3 DUO device introduced for sale in Japan as part of a planned introduction in
most IQOS markets by year-end 2019
"Our third quarter results continued to reflect strong underlying business performance
and include the better-than-anticipated timing of pricing and costs compared to our
previously communicated assumptions for the quarter," said Chief Executive
Officer.The exciting global growth of our heated tobacco products drove our resilient
total shipment performance, despite certain timing issues related to our combustible
portfolio. The quality of our execution across the business drove growth against each of
the key metrics of net revenues, operating income, margin, as well as earnings per share
-- both in the quarter and year-to-date -- on a currency-neutral, adjusted like-for-like
basis."
https://www.pmi.com/media-center/press-releases/press-release-details/?newsId=21626

IT Shades
Engage & Enable
P&G (Canada) Announces Fiscal Year 2020 First Quarter Results
• Net sales of $17.8 billion, an increase of seven percent versus the prior year.
Excluding the net impacts of foreign exchange, acquisitions and divestitures, organic
sales also increased seven percent.
• Diluted net earnings per share were $1.36, up 11% versus the prior year. Core
earnings per share increased 22% to $1.37. Currency-neutral core EPS increased
24% versus the prior year.
• Operating cash flow was $4.2 billion for the quarter. Adjusted free cash flow
productivity was 91%. The Company returned $4.9 billion of cash to shareholders
via $1.9 billion of dividend payments and $3 billion of common stock repurchases
• Reported gross margin increased 180 basis points, including approximately 10 basis
points of higher non-core restructuring charges versus the prior year. Core gross
margin increased 190 basis points versus the prior year, including 10 basis points of
negative foreign exchange impacts.
• Operating profit margin increased 280 basis points versus the base period on a
reported basis including approximately 20 basis points help from lower non-core
restructuring charges. Core and currency-neutral operating margin increased 260
basis points including total productivity cost savings of 160 basis points for the
quarter. Foreign exchange was neutral to operating margin for the quarter.
“We delivered strong top-line growth, profit margin expansion and cash
productivity in the first quarter, enabling us to increase our outlook for fiscal year
results,” said, Chairman, President and Chief Executive Officer. “We will
continue executing our strategies of superiority, productivity, constructive
disruption and improving P&G’s organization and culture to deliver balanced
top-line and bottom-line growth along with strong cash generation in a
challenging competitive and macroeconomic environment.”
https://news.pg.com/press-release/pg-corporate-announcements/pg-announces-fiscal-year-2020-first-quarter-results

Lorem
ipsum
dolor sit
amet,
consec-
tetuer
IT Shades
Engage & Enable
Shiseido(Japan) to Acquire DRUNK ELEPHANT™
Shiseido Company, Limited announced that Shiseido Americas Corporation, a subsidiary of Shiseido,
has signed a definitive agreement to acquire DRUNK ELEPHANT™, a leading and fast-growing
prestige skincare brand and a recognized expert in developing clean compatible and effective
products. The acquisition of Drunk Elephant strengthens Shiseido’s leadership in the global prestige
skincare market.Drunk Elephant was founded in 2012 by Tiffany Masterson as a solutions-oriented,
cross-generational brand for all skin types, and has since experienced exponential growth across a full
range of consumer demographics, including Gen Z and Millennials. Its curated assortment of iconic
hero products use biocompatible ingredients that directly benefit the skin’s health and support the
integrity and effectiveness of the formulations. Drunk Elephant’s effective products, unique and
playful brand voice, and strong community engagement have helped to build a loyal following,
creating substantial room for further growth as it is introduced to more consumers around the
world.Drunk Elephant will be able to leverage Shiseido’s global platform and resources to expand into
new and existing markets both in the Americas and internationally including Europe and Asia.
Shiseido’s Global Innovation Center and Digital Center of Excellence will provide a wealth of
expertise and a unique support network, maximizing Drunk Elephant’s opportunities for growth and
development across all channels.
President and CEO of Shiseido, said, “We are thrilled to announce the acquisition of Drunk
Elephant, one of the fastest-growing prestige skincare brands in history. This transaction is
squarely aligned with Shiseido’s VISION 2020 goal of accelerating growth and creating value
through strategic partnerships. Drunk Elephant’s approach strongly resonates with its highly
engaged and loyal consumers, who value the integrity and effectiveness of Drunk Elephant’s
formulations combined with a fun, curious approach. I am confident that under Marc Rey’s
leadership in the Americas and Shiseido’s global platform and unique resources, we will strongly
support Drunk Elephant on its ongoing growth trajectory. I am very pleased to welcome Tiffany
and the Drunk Elephant team to the Shiseido Family and together, pursue our long-term mission
of “BEAUTY INNOVATIONS FOR A BETTER WORLD”.
Description
https://www.shiseidogroup.com/news/detail.html?n=00000000002773

IT Shades
Engage & Enable
Snap-on (USA) Announces Third Quarter 2019 Results
• Net sales of $901.8 million increased $3.7 million, or 0.4%, from 2018 levels, reflecting a
$12.5 million, or 1.4%, organic sales increase and $2.9 million of acquisition-related sales,
partially offset by $11.7 million of unfavorable foreign currency translation.
• Operating earnings before financial services for the quarter of $167.7 million, or 18.6% of
sales, including $4.4 million of unfavorable foreign currency effects, compared to $173.1
million, or 19.3% of sales, in 2018.
• Financial services revenue of $84.1 million in the third quarter of 2019 increased $2.1
million from 2018 levels; financial services operating earnings of $61.0 million increased
$1.7 million from $59.3 million last year.
• Consolidated operating earnings for the quarter of $228.7 million, including $4.7 million of
unfavorable currency effects, compared to $232.4 million last year. As a percentage of
revenues (net sales plus financial services revenue), consolidated operating earnings were
23.2% and 23.7% in the third quarters of 2019 and 2018, respectively.
• The effective income tax rate of 23.5% in the quarter compared to 24.0% last year. In 2018,
the effective income tax rate included a charge of 90 basis points, or $1.8 million, related to
the implementation of U.S. tax legislation (the “tax charge”). Excluding the tax charge, the
2018 effective tax rate, as adjusted, was 23.1%.
• Net earnings of $164.6 million, or $2.96 per diluted share, compared to $163.2 million, or
$2.85 per diluted share, a year ago. Excluding the above-mentioned tax charge, net earnings,
as adjusted, were $165.0 million in 2018, or $2.88 per diluted share.
“Our third quarter results were encouraging, demonstrating overall organic growth and
clear and positive progress with customers across our U.S. operations. Despite ongoing
headwinds related to challenged geographies and to unfavorable currency, we believe the
overall macro-environment for vehicle repair and critical industries generally remains
favorable and affords ongoing opportunities,” said Snap-on chairman and chief
executive officer. “Through our Snap-on Value Creation Processes, the quarter saw
continued strengthening of our product lines, matching the increasing complexity of
workplace tasks and reinforcing our commitment to making work easier for serious
professionals. Along those lines, Snap-on again was honored to receive product awards
from both MOTOR Magazine and the Professional Tools & Equipment News. We
believe this recognition confirms Snap-on’s success in connecting with customers and
translating that insight into decisive innovations. Finally, our results are only possible
with the significant effort and contributions from our franchisees and associates, and I
thank them for their capability and their dedication.
https://www.snapon.com/EN/Investors/News-Releases/News-Release?cpath=/news-releases/news-release-details/snap-announces-third-quarter-2019-results

IT Shades
Engage & Enable
Stanley Black & Decker (USA) Reports 3Q 2019 Results;
Announces New $200 Million Cost Reduction Program
• Net sales for the quarter were $3.6 billion, up 4% versus prior year, as
positive contributions from volume (+3%), acquisitions (+3%) and price
(+1%) more than offset currency (-2%) and divestitures (-1%).
• The gross margin rate for the quarter was 34.1%. Excluding charges,
the gross margin rate for the quarter was 34.3%, down 120 basis points
versus prior year as volume leverage, productivity and price were more
than offset by tariffs and foreign exchange.
• SG&A expenses were 20.8% of sales. Excluding charges, SG&A
expenses were 19.8% of sales compared to 21.0% in 3Q'18, reflecting
continued disciplined cost management.
• The tax rate was 20.1%. Excluding charges, the tax rate was 21.5%
versus 19.5% in 3Q'18.
• Average diluted shares outstanding for the quarter were 150.6 million,
consistent with the prior year.
• Working capital turns for the quarter were 5.9, up 0.2 turns versus prior
year.
Stanley Black & Decker's President and CEO, commented, "In the
third quarter, we successfully delivered above-market organic growth
and adjusted earnings per share expansion versus prior year,
overcoming $90 million in external pre-tax margin headwinds and
challenges in certain end markets. To position the business for
success in 2020 and beyond, we have begun implementing new cost
and pricing actions, as well as accelerating our $300 – $500 million
multi-year margin resiliency initiative. These actions will preserve
our ability to continue to generate continued earnings growth and
manage externally driven volatility.”
https://ir.stanleyblackanddecker.com/news-releases/news-release-details/stanley-black-decker-reports-3q-2019-results-announces-new-200

Lorem
ipsum
dolor sit
amet,
consec-
tetuer
IT Shades
Engage & Enable
Suning (China) Completes Acquisition of Carrefour China,
Accelerating Full-Scenario Retail Layout
Suning.com announces that it has completed the acquisition of Carrefour China,
marking the start of the Suning era for Carrefour China. The news follows the
deal announced earlier this year (June 23), when Suning.com revealed it intended
to acquire an 80% equity stake in Carrefour China for EUR 620 million (RMB 4.8
billion). The transaction represents the latest acquisition by Suning following
those of Dia China and Wanda Department Stores, as Sunning continues to
accelerate the expansion of its brick-and-mortar portfolio for its full-scenario
retail model.The integration of e-commerce companies (online) and supermarkets
(offline) is a new trend in the development of the retail industry. The different
business models can complement each other and expand the service capabilities
along the supply chain. A number of industry commentators are positive about the
synergies brought by the acquisition, which will further enhance Suning's
competitiveness by accelerating the company's development in the FMCG
category, enriching its smart retail portfolio, and helping reduce procurement and
logistics costs.
Chairman of Suning Holdings Group, said: "This is a key step in Suning's
smart retail plan. Carrefour's FMCG experience and supply chain capabilities
can be integrated with Suning's full-scenario retail model, solid logistics
network and advanced technology. With our smart retail capabilities, Suning
can transform the Carrefour stores into fully integrated online-and-offline
supermarkets to meet evolving consumer demands."
Description
http://www.suningholdings.com/cms/corporateNewsJson/24217.htm

IT Shades
Engage & Enable
Sysco (USA) Reports First Quarter Fiscal 2020 Results
U.S. Foodservice Operations
• Sales for the first quarter were $10.7 billion, an increase of 2.5% compared to the same period last year. Local case volume
within U.S. Broadline operations grew 1.5% for the first quarter, of which 1.4% was organic, while total case volume within
U.S. Broadline operations grew 0.5%, of which 0.4% was organic.
• Gross profit increased 2.6% to $2.1 billion, and gross margin increased 2 basis points to 20.1%, compared to the same
period last year. Food cost inflation was 2.9% in U.S. Broadline, as measured by the estimated change in Sysco’s product
costs, primarily in the meat, produce, dairy and poultry categories.
• Operating expenses increased $9.0 million, or 0.7%, compared to the same period last year. Adjusted operating expenses
increased $4.9 million, or only 0.4%.
• Operating income was $861.4 million, an increase of $45.6 million, or 5.6%, compared to the same period last year.
Adjusted operating income was $865.5 million, an increase of $49.8 million, or 6.1%, compared to the same period last year.
International Foodservice Operations
• Sales for the first quarter were $2.9 billion, a decrease of 0.3% compared to the same period last year. On a constant
currency basis, sales for the first quarter were $3.0 billion, an increase of 3.0% compared to the same period last year.
• Gross profit decreased 1.7% to $605.2 million, and gross margin decreased 29 basis points to 20.8%, compared to the same
period last year. On a constant currency basis, gross profit increased 2.1% to $628.2 million.
• Operating expenses increased $1.7 million, or 0.3%, compared to the same period last year. Adjusted operating expenses
decreased $13.9 million, or 2.7%, compared to the same period last year.
• Operating income was $54.8 million, a decrease of $12.0 million, or 17.9%, compared to the same period last year. Adjusted
operating income was $99.0 million, an increase of $3.6 million, or 3.8%, compared to the same period last year.
“We saw improved financial results in the first quarter with adjusted operating income growth that was in line with our
expectations, as we remain focused on accelerating local case growth and maintaining our strong track record of expense
management,” saidSysco’s chairman, president and chief executive officer. “As we look forward to celebrating our 50th
anniversary this fiscal year, we remain committed to meeting the changing needs of our customers and supporting their
continued growth.”
http://investors.sysco.com/annual-reports-and-sec-filings/news-releases/2019/11-04-2019-130101946

IT Shades
Engage & Enable
The Estée Lauder (USA) Companies Delivers Outstanding Fiscal
2020 First Quarter Results
• Net sales of $3.90 billion increased 11% from $3.52 billion in the prior-year period.
Excluding the impact of currency translation, net sales increased 12%.
• Net earnings rose 19% to $595 million, compared with $500 million last year. Diluted net
earnings per common share increased 21% to $1.61, compared with $1.34 reported in the
prior-year period.
• Adjusted diluted earnings per common share, which excludes items detailed below, rose
19% to $1.67, or grew 20% in constant currency.
Fabrizio Freda, President and Chief Executive Officer said, “We have started fiscal year
2020 with terrific results. Our winning strategy based on multiple engines of growth
helped us deliver an extraordinary performance, especially in light of the volatile global
environment, reflecting the agility and resiliency we have created in our business model.
Our sales growth was led by excellent results from our international markets, particularly
in China and our other emerging markets, the skin care category, the travel retail and
online channels globally, our Estée Lauder brand and several luxury brands, all of which
grew double digits. In addition, all four of our biggest brands, each with annual sales
well over $1 billion, grew globally. This demonstrates the enduring consumer interest in
established brands and their proven, desirable products. Improved data analytics and
consumer insights fueled our successful innovations and digital marketing, and our hero
franchises continued to power our portfolio. We broadened our growth engines, activated
new ones and invested in the best opportunities across our global strategic priorities. By
leveraging our sales gains and maintaining a disciplined operational and financial focus,
adjusted diluted earnings per share rose significantly. At the same time, we increased our
advertising spending. With this strong start and continued confidence in our ability to
execute effectively, we are raising our full year net sales and EPS guidance in constant
currency.”
https://www.elcompanies.com/en/news-and-media/newsroom/press-releases/2019/10-31-2019-104545212

IT Shades
Engage & Enable
Tractor Supply Company (USA) Reports Third Quarter 2019
Financial Results
• Net sales for the third quarter 2019 increased 5.4% to $1.98 billion from $1.88 billion in the third quarter of 2018. Comparable store
sales increased 2.9%, as compared to an increase of 5.1% in the prior year’s third quarter.
• Gross profit increased 6.3% to $694.2 million from $653.1 million in the prior year’s third quarter, and gross margin increased 28 basis
points to 35.0% from 34.7% in the prior year’s third quarter. The increase in gross margin resulted primarily from the strength of the
Company’s price management program and a reduction in freight expense as a percent of net sales.
• Selling, general and administrative (SG&A) expenses, including depreciation and amortization, increased 6.5% to $532.4 million from
$500.0 million in the prior year’s third quarter. As a percent of net sales, SG&A expenses increased 26 basis points to 26.8% from 26.6%
in the third quarter of 2018.
• The effective income tax rate in the third quarter was 22.2% compared to 21.5% in the prior year’s third quarter.
• Net income increased 4.6% to $122.1 million from $116.8 million, and diluted earnings per share increased 7.4% to $1.02 from $0.95
in the third quarter of 2018. Excluding the after-tax impact of the executive transition agreement of approximately $2.3 million, or $0.02
per diluted share, adjusted net income for the third quarter of 2019 was $124.4 million, or $1.04 per diluted share.
• The Company opened 25 new Tractor Supply stores and one new Petsense store and closed one Tractor Supply store and two Petsense
stores in the third quarter of 2019.
First Nine Months of Fiscal 2019 Results
• Net sales for the first nine months of 2019 increased 6.6% to $6.16 billion from $5.78 billion in the first nine months of 2018.
Comparable store sales increased 3.6% versus a 4.9% increase in the first nine months of 2018. Gross profit increased 7.2% to $2.13
billion from $1.99 billion, and gross margin was 34.6%, compared to 34.4% in the first nine months of 2018.
• SG&A expenses, including depreciation and amortization, increased 7.7% to $1.58 billion and increased as a percent of net sales to
25.6% compared to 25.4% for the first nine months of 2018. Adjusted SG&A expenses as a percent of net sales for the first nine months
of 2019, which excludes the impact of the executive transition agreement, were also 25.6%.
• The effective income tax rate in the first nine months was 22.2% compared to 22.1% in the first nine months of 2018.
• Net income increased 5.7% to $418.2 million from $395.5 million, and diluted earnings per share increased 7.8% to $3.45 from $3.20
for the first nine months of 2018. Excluding the after-tax impact of the executive transition agreement of approximately $2.3 million,
or $0.02 per diluted share, adjusted net income for the first nine months of 2019 was $420.5 million, or $3.47 per diluted share.
• Year to date through the third quarter, the Company has repurchased approximately 4.9 million shares of its common stock for $490.0
million and paid quarterly cash dividends totaling $121.2 million.
“Tractor Supply once again delivered strong results in the third quarter, driven by the strength of our team’s execution and their
ability to be nimble through varying seasonal conditions. Our solid comparable store sales growth of 2.9% for the third quarter
was in line with our expectations, with improvements in both our comparable average ticket and transaction count. Importantly,
our operating profit margin improved in the third quarter through gross margin expansion initiatives. We have updated our full
year guidance for 2019 and are on track to deliver against our commitments. We remain excited about the opportunities ahead to
meet our customers’ needs and deliver increased value for our shareholders,” said Tractor Supply’s Chief Executive Officer.
http://ir.tractorsupply.com/file/Index?KeyFile=400605746

IT Shades
Engage & Enable
US Foods Reports Third Quarter Fiscal 2019 Earnings
• Total case volume increased 3.0%; independent restaurant case volume increased 6.3%
• Total organic case volume increased 0.9%; independent restaurant organic case volume
increased 4.2%
• Net sales increased 6.1% to $6.5 billion; organic Net sales increased 4.0% to $6.4 billion
• Gross profit increased 4.3% to $1.2 billion
• Income from continuing operations before income taxes increased $4 million to $144 million
• Net income decreased $8 million to $106 million
• Adjusted EBITDA increased 8.5% to $307 million; organic Adjusted EBITDA increased 6.7%
to $302 million
• Diluted EPS decreased 7.7% to $0.48; Adjusted Diluted EPS increased 12.1% to $0.65
Nine Month Fiscal 2019 Highlights
• Total case volume increased 2.0%; independent restaurant case volume increased 5.5%
• Total organic case volume increased 1.3%; independent restaurant organic case volume
increased 4.8%
• Net sales increased 4.8% to $19.0 billion; organic Net sales increased 4.1% to $18.9 billion
• Gross profit increased 4.2% to $3.4 billion
• Income from continuing operations before income taxes increased $25 million to $389 million
• Net income decreased $14 million to $293 million
• Adjusted EBITDA increased 6.6% to $859 million; organic Adjusted EBITDA increased 6.0%
to $854 million
• Diluted EPS decreased 5.0% to $1.34; Adjusted Diluted EPS increased 10.2% to $1.73
“Our focus on profitable growth enabled us to deliver strong organic Adjusted EBITDA
growth of 6.7% for the quarter,” said Chairman and CEO. “We also delivered organic
independent restaurant case growth of 4.2% as we continue to gain share with this target
customer group. The integration of the Food Group is off to a good start and we are excited
to welcome our colleagues from the Food Group into US Foods. As a result of our year to
date business performance, we are raising our fiscal 2019 organic Adjusted EBITDA growth
guidance to 6.0%.”
https://ir.usfoods.com/investors/stock-information-news/press-release-details/2019/US-Foods-Reports-Third-Quarter-Fiscal-2019-Earnings/default.aspx

I-Bytes Retail & Consumer Goods Industry

I-Bytes Retail & Consumer Goods Industry

Recommended

Recommended

More Related Content

What's hot

What's hot (20)

Similar to I-Bytes Retail & Consumer Goods Industry

Similar to I-Bytes Retail & Consumer Goods Industry (18)

More from EGBG Services

More from EGBG Services (20)

Recently uploaded

Recently uploaded (20)

I-Bytes Retail & Consumer Goods Industry