EIN Presswire: Textiles Press Releases

FDRA to Co-host Footwear Investment Forum in Nicaragua

Thu, 24 May 2012 22:10:00 +0000

Nicaragua will be showcasing why it has become an attractive and increasingly competitive footwear production platform during its upcoming investment forum titled Nicaragua, The Right Step!

WASHINGTON, DC, May 24, 2012 /24-7PressRelease/ -- Nicaragua will be showcasing why it has become an attractive and increasingly competitive footwear production platform during its upcoming investment forum titled "Nicaragua, The Right Step!". The event, which is hosted by PRONicaragua, the official investment promotion agency of Nicaragua, in coordination with the Footwear Distributors & Retailers of America (FDRA), will be held on June 13th and 14th in Managua's prestigious Barcelo Hotel.

Footwear manufacturers, international footwear brands, industry associations, retailers and industry consultants are expected to attend the event, representing countries such as the U.S., Dominican Republic, Brazil, Venezuela, Central America and Japan.

Renowned international speakers include Matt Priest, President of FDRA; Mike Jeppesen, President of Global Operations Group; David Spooner, Principal Negotiator for DR-CAFTA in his role as Textile & Apparel Negotiator and Transition Coordinator in the Office of the US Trade Representative (USTR); Mike Todaro, Managing Director of American Apparel Producers' Network (AAPN); Clay Jenkins, Senior Vice-President of Global Sourcing, Compliance & New Business Development of Brown Shoe Company; and Leandro Winter, Director of Tecshoes Latinoamerica S.A.

The program will feature an overview of the international footwear market, industry trends, commercial footwear rules and market access, as well as Nicaragua's main advantages for investments in this industry, which include a favorable business climate, competitive cost structure, preferential access to international markets, pro-business legal framework and its high levels of personal safety.

The program also includes site visits to international footwear manufacturing companies operating successfully in Nicaragua, during which participants will be able to witness their world-class facilities and learn about their experience investing in the country.

The Footwear Distributors and Retailers of America (FDRA), in its recently published 2012 Annual Footwear Sourcing Forecast, showcased Nicaragua as a "rising star" with great potential to increase its footwear exports to the U.S. In this forecast the U.S. is advised to restructure its sourcing strategies and options due to China's increasing prices, shortages in labor and increased compliance costs, and to "keep an eye on Cambodia, Bangladesh and Nicaragua".

For more information on this up coming footwear investment forum, visit www.pronicaragua.org/footwearforum/

PRONicaragua is the Nicaraguan Investment Promotion Agency, established in 2002. It is a non-profit, public-private institution whose mission is to generate economic growth and job creation in Nicaragua by attracting high-quality foreign direct investment. The agency provides complimentary support services to qualified investors seeking investment opportunities in our country. For further information, please contact us at (505) 2270-6400 or http://pronicaragua.org.

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Unifi, Inc. Completes Redemption of its Senior Secured Notes; Enters into Senior Secured Credit Facility and Term Loans

Thu, 24 May 2012 21:01:00 +0000

Unifi, Inc. Completes Redemption of its Senior Secured Notes; Enters into Senior Secured Credit Facility and Term Loans

PR Newswire

GREENSBORO, N.C., May 24, 2012 /PRNewswire/ -- Unifi, Inc. (NYSE: UFI) (the "Company") announced today that it has completed the previously announced redemption in full of the remaining principal amount of $123,722,000 of its outstanding 11.5% Senior Secured Notes due 2014 (the "Notes"). As a result of the redemptions and new facility and term loans described below, the Company extended the maturity profile of its long-term indebtedness to May 2017 and expects approximately $9 million of annual interest expense savings compared to the fiscal year ended June 24, 2012. The Company redeemed the Notes pursuant to their terms at 100% of the principal amount of the redeemed Notes, plus accrued and unpaid interest.

The total aggregate redemption price was approximately $124.1 million, including approximately $0.4 million in accrued interest. The Company financed the redemption using approximately $21.7 million of cash-on-hand, and the proceeds from $60.0 million of borrowings under the new revolving credit facility and $80.0 million of borrowings under the term loans described below.

The Company also announced it entered into the previously disclosed Credit Agreement for a $150 million senior secured credit facility with Wells Fargo Bank, N.A. and Bank of America, N.A. (the "ABL Facility"), consisting of a $100 million revolving credit facility (the "ABL Revolver") and a $50 million term loan (the "ABL Term Loan"). In addition, the Company announced that it entered into the previously disclosed Credit Agreement with Wilmington Trust, National Association, as administrative agent, and MacKay Shields LLC, solely in its capacity as investment advisor or subadviser with investment authority for certain discretionary client accounts, for a secured term loan in the aggregate principal amount of $30 million (the "Term B Loan"). With the funding of the ABL Facility and the Term B Loan, the Company refinanced its existing indebtedness through the redemption of the Notes described above and the replacement of the Company's current Amended and Restated Credit Agreement with Bank of America, N.A. The ABL Facility and the Term B Loan became effective and funded on May 24, 2012 (the "Closing Date"), simultaneous with the redemption of the Notes. The ABL Revolver, the ABL Term Loan and the Term B Loan have a maturity date of May 24, 2017.

The redemption of the Notes and repayment of the current Amended and Restated Credit Agreement is expected to result in a one-time, pre-tax charge for early extinguishment of debt in the Company's fiscal 2012 fourth quarter of approximately $2.2 million or about $0.11 per share. This one-time pre-tax charge is a non-cash charge related to the write-off of the unamortized debt issuance costs associated with this extinguishment of debt.

Interest on borrowings under the ABL Facility and the Term B Loan will be at variable rates, with initial borrowings under the ABL Revolver and the ABL Term Loan bearing interest of LIBOR plus 2.0% and LIBOR plus 2.5%, respectively. Borrowings under the Term B Loan bear interest at LIBOR plus 7.5%, subject to a LIBOR floor of 1.25%. Under the terms of the ABL Facility, the Company is generally required to hedge the interest rate exposure on a minimum of $50 million of borrowings.

Unifi, Inc. (NYSE: UFI) is a diversified producer and processor of multi-filament polyester and nylon textured yarns and related raw materials. The Company adds value to the supply chain and enhances consumer demand for its products through the development and introduction of branded yarns that provide unique performance, comfort and aesthetic advantages. Key Unifi brands include, but are not limited to: AIO® - all-in-one performance yarns, SORBTEK®, A.M.Y.®, MYNX® UV, REPREVE®, REFLEXX®, MICROVISTA® and SATURA®. Unifi's yarns and brands are readily found in home furnishings, apparel, legwear, and sewing thread, as well as industrial, automotive, military, and medical applications. For more information about Unifi, visit www.unifi.com, or to learn more about REPREVE®, visit the new website www.repreve.com.

SOURCE Unifi, Inc.

Sears Opens Refreshed Stores in Ontario

Thu, 24 May 2012 18:05:43 +0000

-Barrie, Belleville, Newmarket and Hamilton Are the First-

Editors Note: A photo for this release will be available on the CP picture wire via Marketwire.

With a renewed commitment to customer service and dramatic changes to store layout and merchandising, big things are happening at Sears.

On May 25^th, Sears Canada (TSX:SCC) will unveil its new, refreshed store concept in four Ontario locations: Barrie, Belleville, Newmarket and at the Lime Ridge mall in Hamilton. These stores reflect the Company's plans to transform the Sears shopping experience in Canada.

Changes in the stores include: wider aisles, less clutter and streamlined merchandise offerings with exciting new brands at everyday low prices. In all the stores, expanded sections include: KidsRoom and BabyRoom, Jessica women's suit shops, Men's suit shops with easier by-size shopping and additional fitting services, a new assortment and look for Craftsman outdoor power equipment and a market-leading assortment of major appliances and mattresses.

In Newmarket, the new store has an improved check-out process. In Barrie and Belleville, easy-access shopping carts will now be available.

Sears is launching these newly refreshed locations with ribbon cutting ceremonies with local dignitaries 1/2 hour before the stores open on Friday, May 25^th. In Belleville, Barrie and Newmarket, the ribbon cuttings will begin at 9am. In Lime Ridge (Hamilton), the ribbon cutting begins at 9:30am.

The first 100 customers in each store on Saturday, May 26^th will receive randomly designated gift cards ranging from $25 to $500, plus additional opportunities to win a $500 gift card every hour between 9am and 1pm. (Barrie's hourly gift card drawings will happen from 1 - 5pm).

In addition, Trend Directors Cynthia Florek (Womenswear) and Nancy Dennis (Menswear and Kidswear) will be on hand in two of the stores on the 26^th to present special style-savvy seminars. Cynthia and Nancy will be in Newmarket at 11am and in Barrie at 2pm.

"Our goal with the refreshed stores is to create a stage for product in an authoritative way to make it easier for our customers to shop for the items they expect from Sears and to demonstrate our leadership in the marketplace," said Calvin McDonald, President and CEO, Sears Canada. "Along with a renewed commitment to customer service, our new return policy and over 5,000 lower prices, our refreshed stores demonstrate another way that Sears is doing its best to do what's best for our customers."

Sears Canada is a multi-channel retailer with a network that includes 196 corporate stores, 278 hometown dealer stores, 29 home services showrooms, over 1,500 catalogue and online merchandise pick-up locations, 105 Sears Travel offices and a nationwide home maintenance, repair, and installation network. The Company also publishes Canada's most extensive general merchandise catalogue and offers shopping online at www.sears.ca.

Contact for Media:
Sears Canada
Vincent Power
Corporate Communications
(416) 941-4422
vpower@sears.ca

Bibby Financial Services Names Daniel Rodrigue Atlanta Head of Sales

Thu, 24 May 2012 15:57:00 +0000

Bibby Financial Services is pleased to announce the addition of Daniel Rodrigue to its Atlanta office as the Head of Sales. Rodrigue will be responsible for leading the Atlanta-based International Trade Finance sales team and growing the office's client base. He will report directly to Ian Varley, Managing Director.

Rodrigue joins the company with ten years of experience in sales management. Most recently, he was the Chief Operating Officer at Onyx Ventures where he launched a financial services call center and developed customer service processes. Prior to that, he was the Chief Marketing Officer at United Credit, a start-up company where he developed and led the sales efforts for five years. He began his career building the sales team for MPRIZ Holdings, a start-up in the finance and credit industry.

"Bibby International Trade Finance helps companies that are looking to grow through international sales. Daniel's experience building and directing sales teams will help us reach these small businesses as more U.S. companies explore exporting," said Varley. "We are confident he will be a strong leader, helping our team find the fast and flexible solutions that will increase the cash flow of small- and medium-sized companies through export factoring or purchase order finance."

Bibby Financial Services is a worldwide market leader in business cash flow solutions to small and medium-sized companies. With offices in eight North American cities and 14 countries around the world, its product portfolio includes accounts receivables finance, factoring, export finance, purchase order finance, specialist solutions for the staffing and trucking sectors, and it is an approved lender for the Export-Import Bank's working capital guaranty delegated authority program. Bibby Financial Services is a subsidiary of a 204-year-old privately held company based in the United Kingdom.

For more information on Bibby Financial Services, visit: www.bibbyusa.com or www.bibbycanada.ca, or Facebook at: www.facebook.com/bibbyfinancialservices.na.

Contact
Stacy Huston
630/493-3133

PAID Inc. Merchandising Fulfillment Services "Delivers" Peace of Mind for Brands, Entertainment Artists

Thu, 24 May 2012 15:10:00 +0000

New State-of-the-Art Facility, Fulfillment Director, Technology Fueling Improved Productivity, Efficiency, Customer Service

When a brand puts its name on merchandise, the order taking, pick, pack and ship fulfillment process can make the critical difference between happy or irate customers, and that's why more artists and major brands are trusting PAID Inc. (OTCBB: PAYD) to "deliver" for them.

"Expanded business development efforts over the past nine months and an uptick in client referrals from multiple partners have doubled PAID's client roster in 2012 to more than 150 clients ranging from some of the world's best known names in entertainment to up and coming brands," stated Rich Rotman, PAID Inc. Chief Operating Officer. "The majority of our clients utilize PAID's fulfillment services in some capacity. In 2011, we began accepting clients who solely wanted fulfillment services. We've since won the business of more than 50 new fulfillment-only clients. Once clients experience the excellence of our fulfillment program and learn about our full range of services, with increasing frequency they engage us for our other brand management services."

PAID Inc. continually enhances its fulfillment processes and recently has recently implemented major upgrades. The result is dramatically improved efficiency and productivity across the entirety of its merchandising and fulfillment services, while enhancing accuracy and customer service complete with consistently competitive pricing.

Alan Breault Named Director of Fulfillment
Alan Breault joined PAID in December 2011 as the Director of Fulfillment. He brings over 20 years of experience in warehousing and distribution operations, working for both domestic and international distributors and third party logistics companies. He has earned a Lean Six Sigma green belt, designating him as an expert in quality management methods that identify and remove errors and minimize variability in manufacturing and business processes.

While at SP Richards, Breault was on the project team that implemented new pick ticket and warehouse management systems across distribution centers in their Northeast division and identified and implemented best practices across the centers. As a supervisor and project manager at Kenco Logistics Services, he redesigned the receiving process, which reduced product damage in house and in transit, resulting in hundreds of thousand of dollars in savings.

"In PAID's new facility, we're now able to establish processes that take advantage of the principles of lean manufacturing and continuous improvement to better serve our clients and their customers," Breault stated.

New High-Tech Facility in Westborough, Mass.
PAID Inc. consolidated its Boston and Worcester facilities into a newly constructed facility in Westborough and upgraded its shipping, warehouse and inventory management system to streamline picking and packing, shipping and product control. Advantages of the new facility include:

The larger space and improved racking system create a more streamlined picking process for bulk merchandise and shipments
The new high bay area enables staff to access stored and reserved inventory faster and with more accuracy and care
The added space, with new systems and processes have already increased PAID's pick, pack and shipping efficiency, effectively reducing inventory management labor by more than 50%
PAID now has the ability to fulfill a broader range of products, including electronics, shoes, books, media, and even home goods.

As Rotman explains, "Our new facility has taken our fulfillment capabilities and efficiencies to the next level. With client managers, customer service and warehouse staff all under one roof, strategic planning and information sharing happens face-to-face in real time. Reporting, order and processing data are disseminated digitally increasing accuracy and efficiency. The larger space will accommodate significant growth of our client roster. Increased efficiencies ensure that we continue to provide the highest level of care and precision for every client -- all the while maintaining competitive pricing."

Superior Shipping Technology and Improved Processes
PAID's automated efficiencies and real-time monitoring offer clients substantial benefits that translate to increased sales and profits.

PAID's AuctionInc™ patented shipping calculation technology enables each client to have customized shipping preferences based on that client's particular products. AuctionInc automatically calculates shipping charges based on the size, weight, shape and other factors of each package and optimizes the shipping costs. This translates to customers being able to buy more product with the same shipping costs, resulting in higher sales for PAID clients.
PAID has the capability to run batches in multiple ways -- by client, product type, and with combinations of multiple products and quantities.
PAID's flexibility enables immediate batch processing for clients needing product shipped immediately, including same day shipping and thousands of orders per day
PAID's manufacturing, sourcing, assembly and fulfillment services provide clients with a turnkey operation to create special limited edition bundles. PAID was a key collaborator on the design, sourcing and fulfillment of a 2011 Grammy-nominated limited edition boxed set

Keith Garde, President of PAID Inc. celebrity services, noted, "Every client has a unique customer base, and we cater to each client's customer base uniquely, adjusting our system to fit their needs. It is customization unmatched in our industry, designed and dedicated to meet the needs of a discerning, high profile client base."

PAID offers a full range of turnkey brand management services including ecommerce website design and management, merchandise design, product development and sourcing, tour merchandise, promotional items, video & film production, VIP ticketing and licensing opportunities. Ultimately, fulfillment is a critical element common to almost all of these services. From start to finish, PAID delivers -- products, superior service and peace of mind.

About PAID Inc.:
PAID Inc. is a one-stop brand management and marketing resource to music, entertainment and sports personalities and organizations, and offers AuctionInc™ online shipping calculation and shopping cart software employing its patented technology to streamline ecommerce. Known for quality and customer service, PAID offers turnkey online, mobile, social media and traditional marketing campaigns, as well as award-winning video & film production, VIP ticketing, web site design, merchandising, ecommerce and fan community management programs. More details are available at www.paid.com.

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995:
Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the markets, variations in the company's cash flow, competition, celebrity programs, business development efforts, technology availability and cost of materials and other risk factors. Factors that could cause actual results to differ materially are discussed in the Company's most recent filings with the Securities and Exchange Commission.

CONTACTS:
For PAID Inc.:
Julie Shepherd
Accentuate PR
+1.815.479.1833
Email Contact

Your Next Caribbean Vacation Could Only Cost You One Photo

Thu, 24 May 2012 13:14:00 +0000

WIMCO Villas Launches St Barts Vacation Photo Contest

Don't delete those vacation photos on your iphone -- one of them could earn you a week in a private villa on the French Caribbean island of St Barts!

WIMCO Villas, the leading villa rental and concierge services company serving St Barts is launching a vacation photo contest with dozens of sexy prizes for those of you who love to snap photos. The grand prize winner will enjoy a week in one of WIMCO's private villas on St Barts, with VIP concierge service.

Dozens of prizes will also be awarded for nine different vacation themed categories, including Friends & Family, Beaches, Food & Drink, Fashion & Love. Enter now via the WIMCO Villas page on Facebook.

The WIMCO Villas vacation photo contest features dozens of exciting prizes including:

Best Photo prize - One week in a WIMCO Villa on St Barts!
Complete with VIP Concierge Services, and a private pool side rum tasting session from Rhum St Barth

FASHION category - $1,000 shopping spree from luxury online retailer TAIGAN
EUROPE category - beach chic package valued at $750 from Glamourpussnyc
CARIBBEAN category - Round trip tickets from San Juan to St Barts on Tradewind
FRIENDS & FAMILY category - Round trip tickets from San Juan to St Barts on Tradewind
GENERAL INTEREST category - Round Trip tickets from St Martin to St Barts on Win-Air
BEACH category - Lunch for two at Hotel Taiwana on Flamands Beach on St Barts
FOOD & DRINK category - Lunch for two at Hotel Taiwana on Flamands Beach on St Barts
LOVE category - Pool-side massage and spa treatment from Ligne St Barth

- Runner up Prizes - Dinner for two at Andy's Hideaway in St Barts (10 awarded)
- Runner up Prizes - Bottle of Premium Rhum from Rhum St Barth (10 awarded)

Photo enthusiasts can enter up to 10 photos via the WIMCO Villas page on Facebook. WIMCO is using an app from Votigo that facilitates sharing photos with friends, and encourages them to view and vote for one or more entries.

About WIMCO Villas
Recently featured on The Today Show, WIMCO Villas is an award-winning luxury villa rental company, providing access to some of the world's most beautiful and exceptional private villas, along with concierge travel services before, during and after the vacation. WIMCO has received numerous accolades including FORTUNE magazine's "Top Villas Companies in the World," Condé Nast Traveler magazine's "Best Presented Villas," best luxury villa company by Travel & Leisure magazine, and FORBES "Best of the Web."

WIMCO Villas' agents have intimate knowledge of the villas in their portfolio, and can tailor make a villa vacation to suit each client's needs, whether it be arranging for private chefs, yoga instructors, yacht charters or simply a restaurant reservation. WIMCO represents villas on St Barts and 12 other Caribbean islands, plus Europe, Hawaii and Nantucket, and publishes the Vendome Guide series of villa vacation guides. For additional information please call 800-449-1553. Inquiries can be sent via email to info@wimco.com

WIMCO Villas
800-449-1553
Email Contact

Cooling off in a WIMCO villa's pool on St Barts

Express, Inc. Announces $100 Million Share Repurchase Program

Thu, 24 May 2012 11:41:07 +0000

Express, Inc. Announces $100 Million Share Repurchase Program

PR Newswire

COLUMBUS, Ohio, May 24, 2012 /PRNewswire/ -- Express, Inc. (NYSE: EXPR), a specialty retail apparel chain operating more than 600 stores, today announced that its Board of Directors has authorized the Company to repurchase up to $100 million of Company common stock. The repurchase program will be funded using the Company's available cash and is expected to be executed over the next 18 months.

Michael Weiss, Chairman, President and Chief Executive Officer stated: "Our Board believes that at the current price our stock is undervalued based on many criteria, including the long-term growth prospects for the Company, and that the repurchase program is an effective means to enhance shareholder value. Express' strong financial condition allows us to take advantage of opportunities to purchase our securities at attractive prices. We remain confident in our go-to-market strategy and believe that our four growth pillars provide significant opportunity going forward."

The Company is authorized to repurchase from time to time shares of its outstanding common stock on the open market or in privately negotiated transactions. The timing and amount of stock repurchases will depend on a variety of factors, including the market conditions as well as corporate and regulatory considerations. The share repurchase program may be suspended, modified or discontinued at any time and the Company has no obligation to repurchase any amount of its common stock under the program. The company intends to make all repurchases in compliance with applicable regulatory guidelines and to administer the plan in accordance with applicable laws, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended.

About Express, Inc.:
Express is a specialty apparel and accessories retailer of women's and men's merchandise, targeting the 20 to 30 year old customer. The Company has over 30 years of experience offering a distinct combination of fashion and quality for multiple lifestyle occasions at an attractive value addressing fashion needs across work, casual, jeanswear, and going-out occasions. The Company currently operates more than 600 retail stores, located primarily in high-traffic shopping malls, lifestyle centers, and street locations across the United States, in Canada, and in Puerto Rico, and also distributes its products through the Company's e-commerce website, express.com.

Forward-Looking Statements:
Certain statements are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include any statement that does not directly relate to any historical or current fact and may herein include, but are not limited to, statements regarding the Company's intention to repurchase shares and the source of funding therefor, Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are (1) changes in consumer spending and general economic conditions; (2) our ability to identify and respond to new and changing fashion trends, customer preferences and other related factors; (3) fluctuations in our sales and results of operations on a seasonal basis and due to store events, promotions and a variety of other factors; (4) increased competition from other retailers; (5) our dependence upon independent third parties to manufacture all of our merchandise; (6) our growth strategy, including our international expansion plan; (7) our dependence on a strong brand image; (8) our dependence upon key executive management; (9) our reliance on Limited Brands to provide us with certain key services for our business; and (10) our substantial indebtedness and lease obligations. Additional information concerning these and other factors can be found in Express, Inc.'s filings with the Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

D. Paul Dascoli
Senior Vice President &
Chief Financial Officer
(614) 474-4300

Media Contact:
Barbara Coleman
Corporate Communications
(614) 474-4083
bcoleman@express.com

Investor Contacts:
ICR, Inc.
Allison Malkin / Anne Rakunas
(203) 682-8200 / (310) 954-1113

SOURCE Express, Inc.

Signet Reports First Quarter EPS of $0.96, up 10.3%, Achieved Double Digit Comps Over Important Mother's Day Period

Thu, 24 May 2012 11:30:00 +0000

Signet Jewelers Limited ("Signet") (NYSE: SIG) (LSE: SIG), the largest specialty retail jeweler in the US and UK, today reported sales and earnings growth for the 13 weeks ended April 28, 2012 ("Q1 Fiscal 2013").


		Q1 Fiscal 2013
•	Same store sales	up 1.2%
•	Income before income taxes	$128.5 million, up 9.1%
•	Diluted earnings per share	$0.96, up 10.3%

Mike Barnes, Chief Executive Officer, commented: "We delivered strong financial results in the first quarter and increased our earnings per share by 10.3% to $0.96 as we anticipated the impact of the Mother's Day promotional calendar shift and managed our business accordingly. I would like to thank all at Signet who contributed to these results.

In the second quarter to date, which benefited from the calendar shift, our same store sales, including Mother's Day, were up strong double-digits reflecting the customer's broad acceptance of our merchandise offerings, our great customer experience and the effectiveness of our advertising in this important gift giving period. Our results year to date, combined with our focus on competitive strengths and our consistent ability to execute our initiatives, leave us well positioned to meet the challenges of the current economic environment and achieve our objectives for the year."

Second quarter Fiscal 2013 guidance:

Guidance is being provided for the second quarter due to the complexity of the calendar shift. Same store sales in the second quarter are expected to be in the mid to high single digit range and fully diluted earnings per share are expected to range from $0.78 - $0.84 based on an estimated 84 million weighted average shares outstanding.

Sales highlights:

Sales were $900.0 million (13 weeks ended April 30, 2011: $887.3 million), up $12.7 million or 1.4%. Same store sales were up 1.2% (13 weeks ended April 30, 2011: 10.2%), and were adversely impacted by the previously disclosed calendar shift; estimated to have had an impact of $32 million or 370 basis points.
- In the US division, sales were $751.5 million (13 weeks ended April 30, 2011: $738.0 million), up $13.5 million or 1.8%. Same store sales were up 1.2% (13 weeks ended April 30, 2011: 12.5%), and were impacted by 440 basis points due to the calendar shift.
- In the UK division, sales were $148.5 million (13 weeks ended April 30, 2011: $149.3 million), down $0.8 million or 0.5%. Same store sales were up 1.2% (13 weeks ended April 30, 2011: 0.2%).


Q1 Fiscal 2013	Change from previous year
	Same store sales		Store space impact, net		Total sales at constant exchange rate 1,2		Exchange translation impact1		Total sales as reported		Total sales (millions)
Kay	2.9	%	1.1	%	4.0	%	-		4.0	%		$ 452.6
Jared	0.2	%	1.5	%	1.7	%	-		1.7	%		$ 231.6
Regional brands	(6.0	)%	(4.0	)%	(10.0	)%	-		(10.0	)%		$ 67.3
US division	1.2	%	0.6	%	1.8	%	-		1.8	%		$ 751.5
H.Samuel	1.8	%	0.9	%	2.7	%	(1.9	)%	0.8	%		$ 80.1
Ernest Jones3	0.6	%	(0.7	)%	(0.1	)%	(1.9	)%	(2.0	)%		$ 68.4
UK division	1.2	%	0.2	%	1.4	%	(1.9	)%	(0.5	)%		$ 148.5
Signet	1.2	%	0.6	%	1.8	%	(0.4	)%	1.4	%		$ 900.0

1. The average US dollar to pound sterling exchange rate in Q1 Fiscal 2013 was $1.59 (13 weeks ended April 30, 2011: $1.62).

2. Non-GAAP measure.

3. Includes stores selling under the Leslie Davis nameplate.

Selected financial highlights:

The gross margin was $353.7 million, representing 39.3% of sales (13 weeks to April 30, 2011: $349.7 million or 39.4% of sales).
- Gross margin in the US increased $5.8 million compared to the first quarter of Fiscal 2012. The higher US gross margin was driven by a favorable gross merchandise margin movement of 40 basis points, leverage on store occupancy expenses and increased income from credit related fees, partially offset by an impact of $4.7 million on the US net bad debt expense, due to a change in the number of credit billing cycles included in the quarter. This expense is expected to be offset by a broadly similar benefit in other operating income in the fourth quarter of Fiscal 2013. The US net bad debt to US sales ratio was 1.8% excluding the credit cycle impact (first quarter Fiscal 2012: 1.6%), and 2.5% including the expense.
- Gross margin in the UK was $1.8 million lower than that of the first quarter of Fiscal 2012, primarily as a result of an unfavorable foreign currency impact and a decline in gross merchandise margin of 170 basis points attributed to the level of promotional activity and merchandise mix, which were partially offset by lower store occupancy and store operating expenses.
Selling, general and administrative expenses were $264.5 million, or 29.4% of sales (13 weeks to April 30, 2011: $263.8 million or 29.7% of sales). This reflects tight control of expenses and is primarily attributable to lower store staff costs.
Other operating income, net, increased to $40.2 million, or 4.5% of sales (13 weeks to April 30, 2011: $32.8 million, or 3.7% of sales) as a result of increased interest income earned from higher outstanding receivable balances.
Net operating income was $129.4 million (13 weeks ended April 30, 2011: $118.7 million), up $10.7 million or 9.0%. Operating margin increased by 100 basis points to 14.4% (13 weeks to April 30, 2011: 13.4%).
- In the US division, net operating income was $137.7 million (13 weeks ended April 30, 2011: $126.2 million), up $11.5 million or 9.1%. Operating margin increased by 120 basis points to 18.3% (13 weeks to April 30, 2011: 17.1%).
- In the UK division, net operating loss was $3.0 million (13 weeks ended April 30, 2011: loss $0.2 million), up $2.8 million. Operating margin decreased by 190 basis points to (2.0)% (13 weeks to April 30, 2011: (0.1)%).
The effective income tax rate was 35.8%, down from 36.0% for the 13 weeks to April 30, 2011.
Net income rose 9.4% to $82.5 million or by 10.3% to $0.96 per diluted share from $75.4 million, or $0.87 per diluted share last year.

Balance Sheet and Cash Flow Highlights:

At April 28, 2012, cash and cash equivalents were $399.0 million (April 30, 2011: $394.1 million).
Net accounts receivable at April 28, 2012 were $1,025.1 million, up by 13.4% (April 30, 2011: $904.3 million), primarily reflecting a higher rate of in-house customer financing.
Net inventories at April 28, 2012 were $1,335.0 million, up by 9.3% (April 30, 2011: $1,221.2 million). The increased level of inventory reflected the US promotional calendar shift related to Mother's Day and the impact of higher diamond and gold costs, partially offset by management action to improve inventory turn.
Signet repurchased 1,936,247 shares in the first quarter at an average cost of $46.73.
At April 30, 2012, Signet operated 1,851 stores (US division: 923 Kay stores, 184 Jared stores and 213 regional brand stores; UK division: 334 H.Samuel stores and 197 Ernest Jones stores) versus 1,852 (US division: 908 Kay stores, 180 Jared stores and 226 regional brand stores; UK division: 337 H.Samuel stores and 201 Ernest Jones stores) a year ago. Further information on Signet is available at www.signetjewelers.com. See also www.kay.com, www.jared.com, www.hsamuel.co.uk and www.ernestjones.co.uk.

Conference Call
There will be a conference call today at 8:30 a.m. Eastern Time (1:30 p.m. BST and 5:30 a.m. Pacific Time) and a simultaneous audio webcast and slide presentation available at www.signetjewelers.com. The slides are available to be downloaded from the website ahead of the conference call. To help ensure the conference call begins in a timely manner, all participants should dial in 5 to 10 minutes prior to the scheduled start time. The call details are:


US dial-in:	+1 (212) 444 0896	Access code: 1545796
European dial-in:	+44 (0)20 7784 1036	Access code: 1545796

A replay of the conference call and a transcript of the call will be posted on Signet's website as soon as is practical after the call has ended and will be available for one year.

Investor Relations Program Details

Annual General Meeting of Shareholders
The annual general meeting is to be held at 11:00 a.m. Eastern Time on Friday, June 15, 2012 at the Hilton Akron/Fairlawn, 3180 West Market Street, Akron, OH, 44333, USA.

Second Quarter Results
The second quarter results for the 13 weeks ending July 28, 2012 are expected to be announced on Thursday, August 23, 2012.

IR Day and Store Visits, New York
Signet will be hosting an IR Day and store visits for professional investors in New York on Monday, October 1, 2012. Details will be available in due course on www.signetjewelers.com.

This release contains statements which are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, based upon management's beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this release and include statements regarding, among other things, Signet's results of operation, financial condition, liquidity, prospects, growth, strategies and the industry in which Signet operates. The use of the words "expects," "intends," "anticipates," "estimates," "predicts," "believes," "should," "potential," "may," "forecast," "objective," "plan," or "target," and other similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including but not limited to general economic conditions, the merchandising, pricing and inventory policies followed by Signet, the reputation of Signet and its brands, the level of competition in the jewelry sector, the cost and availability of diamonds, gold and other precious metals, regulations relating to consumer credit, seasonality of Signet's business, financial market risks, deterioration in consumers' financial condition, exchange rate fluctuations, changes in consumer attitudes regarding jewelry, management of social, ethical and environmental risks, security breaches and other disruptions to Signet's information technology infrastructure and databases, inadequacy in and disruptions to internal controls and systems, changes in assumptions used in making accounting estimates relating to items such as extended service plans and pensions, and risks relating to Signet being a Bermuda corporation.

For a discussion of these and other risks and uncertainties which could cause actual results to differ materially, see the "Risk Factors" section of Signet's Fiscal 2012 Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on March 22, 2012. Actual results may differ materially from those anticipated in such forward-looking statements. Signet undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances, except as required by law.


Condensed Consolidated Income Statements
(Unaudited)

		13 weeks ended
		April 28,			April 30,
		2012			2011
		$million			$million
Sales			900.0			887.3
Cost of sales			(546.3	)		(537.6	)
Gross margin			353.7			349.7
Selling, general & administrative expenses			(264.5	)		(263.8	)
Other operating income, net			40.2			32.8
Operating income, net			129.4			118.7
Interest expense, net			(0.9	)		(0.9	)
Income before income taxes			128.5			117.8
Income taxes			(46.0	)		(42.4	)
Net income			82.5			75.4
Earnings per share:	basic	$	0.96		$	0.87
	diluted	$	0.96		$	0.87
Weighted average common shares outstanding (millions):	basic		85.5			86.1
	diluted		86.3			86.9
Dividends per share		$	0.12			-

Condensed Consolidated Balance Sheets
(Unaudited)

	April 28,		January 28,		April 30,
	2012		2012		2011
	$million		$million		$million
Assets
Current assets:
Cash and cash equivalents	399.0		486.8		394.1
Accounts receivable, net	1,025.1		1,088.2		904.3
Other receivables	43.9		44.3		25.2
Other current assets	74.0		92.0		84.6
Deferred tax assets	2.0		0.9		2.7
Inventories	1,335.0		1,304.1		1,221.2
Total current assets	2,879.0		3,016.3		2,632.1
Non-current assets:
Property and equipment, net of accumulated depreciation of $707.1 million (January 28, 2012: $681.0 million; April 30, 2011: $673.0 million)	381.7		383.4		373.3
Other assets	72.2		71.7		60.9
Deferred tax assets	116.5		108.5		106.2
Retirement benefit asset	35.8		31.5		27.1
Total assets	3,485.2		3,611.4		3,199.6
Liabilities and shareholders' equity
Current liabilities:
Loans and overdrafts	-		-		28.0
Accounts payable	156.0		182.6		144.9
Accrued expenses and other current liabilities	252.3		308.4		239.3
Deferred revenue	150.5		154.1		142.5
Deferred tax liabilities	133.8		135.0		102.2
Income taxes payable	51.4		77.9		43.4
Total current liabilities	744.0		858.0		700.3
Non-current liabilities:
Other liabilities	103.1		100.3		94.3
Deferred revenue	380.4		374.0		360.5
Total liabilities	1,227.5		1,332.3		1,155.1
Shareholders' equity:
Common shares of $0.18 par value: authorized 500 million shares, 85.4 million shares issued and outstanding (January 28, 2012: 86.9 million shares issued and outstanding; April 30, 2011: 86.8 million shares issued and outstanding)	15.7		15.6		15.5
Additional paid-in capital	228.3		230.9		206.2
Other reserves	235.2		235.2		235.2
Treasury shares at cost: 1.8 million shares (January 28, 2012: 0.3 million shares; April 30, 2011: 0.0 million shares)	(88.6	)	(12.7	)	-
Retained earnings	2,030.2		1,969.3		1,737.7
Accumulated other comprehensive loss	(163.1	)	(159.2	)	(150.1	)
Total shareholders' equity	2,257.7		2,279.1		2,044.5
Total liabilities and shareholders' equity	3,485.2		3,611.4		3,199.6

Condensed Consolidated Statements of Cash Flows
(Unaudited)

		13 weeks ended
		April 28,		April 30,
		2012		2011
		$million		$million
Cash flows from operating activities
Net income		82.5		75.4
Adjustments to reconcile net income to cash provided by operating activities:
	Depreciation and amortization of property and equipment	23.1		22.5
	Pension	(2.6	)	(2.7	)
	Share-based compensation	4.1		2.7
	Deferred taxation	(3.5	)	(0.5	)
	Facility amendment fee amortization and charges	0.1		0.2
	Other non-cash movements	-		(0.1	)
Changes in operating assets and liabilities:
	Decrease in accounts receivable	63.5		32.0
	(Increase)/decrease in other receivables and other assets	(0.1	)	11.9
	Decrease in other current assets	4.3		8.1
	Increase in inventories	(25.6	)	(24.3	)
	(Decrease)/increase in accounts payable	(27.7	)	17.9
	Decrease in accrued expenses and other liabilities	(62.0	)	(47.3	)
	Increase in deferred revenue	2.7		3.5
	(Decrease)/increase in income taxes payable	(25.6	)	4.7
	Effect of exchange rate changes on currency swaps	0.8		1.3
Net cash provided by operating activities		34.0		105.3
Investing activities
Purchase of property and equipment		(18.6	)	(12.9	)
Net cash used in investing activities		(18.6	)	(12.9	)
Financing activities
Dividends		(8.7	)	-
Proceeds from exercise of share options		5.1		4.0
Repurchase of common shares		(90.7	)	-
Net settlement of equity based awards		(8.3	)	-
Credit facility fees paid		-		(0.2	)
Repayment of short-term borrowings		-		(4.0	)
Net cash used in financing activities		(102.6	)	(0.2	)
Effect of exchange rate changes on cash and cash equivalents		(0.6	)	(0.2	)
Cash and cash equivalents at beginning of period		486.8		302.1
(Decrease)/increase in cash and cash equivalents		(87.2	)	92.2
Cash and cash equivalents at end of period		399.0		394.1

Enquiries:
Tim Jackson
Investor Relations Director
Signet Jewelers
+1 (441) 296 5872

Press:
Alecia Pulman
ICR, Inc
+1 (203) 682 8224

Jonathan Glass
Brunswick
+44 (0)20 7404 5959

Get Cool Star Style with House of Holland Tights at AlexBlake.com

Thu, 24 May 2012 09:22:50 +0000

A seen on stars from Kardashians to Jessie J, the House of Holland for Pretty Polly collection has got tons of famous fans. Now you can get the look with House of Holland Tights from AlexBlake.com.

LONDON, ENGLAND, May 24, 2012 /24-7PressRelease/ -- If you're looking for hosiery with genuine star quality, there's only one brand you need to go to: Pretty Polly. The British brand continues to offer the best in super cool, achingly hip hosiery, especially since the addition of the House of Holland Tights collection, designed by Henry Holland for Pretty Polly. His designs have been seen on everyone who's anyone and since he burst onto the scene a few years ago, the Brit designer has continued to make a name for himself, garnering a devoted star following including Alexa Chung, Jessie J and Nicki Minaj, who have all been seen in his designs.

Not only did he create the sellout Henry Holland Suspender tights, he has also stayed one step ahead of the pack and has created iconic design such as his Superstar patterned tights, his Alphabet Tights (seen on Kourtney Kardashian) and his latest patriotic range of flag tights.

Suspender tights have been seen on tons of famous faces, and while they can be easy to get wrong, when done right they look incredible. The trick is to keep the rest of your look simple - in the same way as you wouldn't wear a short dress with a daring top, don't wear anything too fashion forward with this style - the tights are statement enough all on their own.

For a really easy to wear look, the Pretty Polly Suspender Tights are ideal. When they were featured on the Today show they became an instant bestseller and are great for wearing with cocktail shorts and a sequined t-shirt for a smart-casual look perfect for a dinner date. Or you could try suspender tights with a twist - whether you love the red strapped version that Rihanna was spotted in a couple of weeks ago or want yours embellished with pearls, there is a great range at AlexBlake so take a look and choose your favorite.

Pretty Polly aren't just great for fashion styles, either. They also do a range of control top pantyhose as well as a plus size collection, and are well known for great quality sheers, too - in fact, their Naturals range was also featured on the Today show recently!

Is there anything this super brand can't do? It seems not. So whether you want great quality basics or the latest fashions, it's all just a click away with the Pretty Polly range at www.AlexBlake.com.

The aim of AlexBlake.com is to have hosiery suitable for every size, shape and occasion. To make sure that you find exactly what you want, products have been examined in detail as well as being tested so that every aspect of each product is clearly described in simple terms.

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Celebrate the Queen's Jubilee with Jubilee Tights from MyTights.com

Thu, 24 May 2012 08:10:14 +0000

Shades of Red, White and Blue are all around us, so get patriotic with the British Collection of Jubilee Tights at MyTights.com.

LONDON, ENGLAND, May 24, 2012 /24-7PressRelease/ -- It's now not even two weeks to go until the Queen's Jubilee weekend and flags seem to be popping up wherever you go. Surrounded by shades of red, white and blue, it's never seemed cooler to be British, or more appropriate to don a patriotic pair of Jubilee tights. The Union Jack was even featured on the Vivienne Westwood AW 12 catwalk, and spotted on the dangerously long legs of Elle "The Body" Macpherson.

Show your support for sixty years of service from Her Majesty by donning a pair of Union Jack Tights for the Jubilee. There are loads of different styles - channel Vivienne Westwood by going all out in an all over print like the Henry Holland Rule Britannia Union Jack Flag Tights, which will look great with a simple dress or casual shorts and t-shirt combination. Or you could try subtle patriotism a la Elle - layer union jack tights under ripped jeans or go for a subtle print like the Jonathan Aston Crowns or Union Jack Horses Tights, which both feature all over small prints on opaque black hosiery. You can even just wear the colours of the flag with red and white spotty tights or blue and white stripes.

Not only are there tons of different ways to wear them, you won't end up shoving them to the back of your wardrobe after the long weekend with your flag deely boppers and other now-useless Jubilee paraphernalia. Flag Tights will last and last: you can reuse them for the Oympics and any other sporting event where you want to show your support for your country, and the Brit Fever trend (as seen on catwalks including Chanel and Alexander McQueen) is set to stick around well into the next season.

To celebrate the Queen's reign and help you get in the Jubilee spirit, here are six things we bet you didn't know about Her Majesty...

1. She uses her handbag to signal when she's ready to move on - she lets her aides know it's time to go by switching her bag from arm to arm.

2. She was turned away from her own private stand at the Royal Windsor Horse Show by an over-zealous security guard who later said he thought she was "some old dear who had got lost".

3. She visited the set of EastEnders in 2011 and went behind the bar of the Queen Vic. Reports that she pulled a pint are unconfirmed.

4. In 1957 the Queen and Prince Philip were apart for four months because of official duties. On the day they were reunited, he wore a heart-patterned tie.

5. She used to be a party animal! She wrote about the VE day celebrations in 1945, saying "[I] walked simply miles. Saw parents on balcony at 12.30am - ate, partied, bed 3am!"

6 When her father unexpectedly became King, her sister (Princess Margaret) said to her: "Does that mean you're going to be queen? Poor you."

The aim of www.MyTights.com is to have hosiery suitable for every size, shape and occasion. To make sure that you find exactly what you want, products have been examined in detail as well as being tested so that every aspect of each product is clearly described in simple terms.

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Cruise in Style With Curvissa

Thu, 24 May 2012 08:00:00 +0000

It could just be the perfect holiday. Time spent relaxing on deck. The chance to soak up some sunshine in the most perfect of destinations and the opportunity to do some on-land exploring That's just during the day.

As the sun goes down you can wine and dine in one of the many stylish restaurants on deck as well as the chance to sit at the captain's table. It all sounds amazing, but remember for each element you'll need the right outfit.

The cruise wear collection from plus size clothing retailer Curvissa is the perfect place to start.

Curvissa's cruise wear collection

Choosing from Curvissa's cruise wear collection you can pack for a perfect cruise. The collection includes a wide variety of readymade cruise outfits as well as a number of style ideas in sizes 12-32.

Whether you're looking for casual daywear for on-land excursions, stylish maxi-dresses for those nights spent on deck or an elegant evening dress for the black-tie occasion you'll find your perfect cruise wardrobe. There's even an entire range of plus size swimwear to make sure you sizzle by the pool.

Whatever your destination, make the holiday of a lifetime pass with true style.

Notes to editor:

From gorgeous evening wear to everyday plus size jeans, you'll find all your plus size fashion at Curvissa, the home of fabulous women's clothes and accessories in sizes 14-32.

Curvissa believe that plus size clothing shouldn't come with a premium price tag, so each item across all size options is available at a single competitive price. Choose to shop by size, price, product type or occasion to find exactly what you're looking for.

Press contacts:
Claire Felstead
+44 (0) 207 787 1931
Claire.Felstead@freshwater-uk.com
Louise Harris
+44 (0) 207 787 1931
Louise.Harris@freshwater-uk.com

Astor & Black Custom Clothiers Recruits Another Senior Industry Veteran, Alan Levine, to Join as Senior Vice President of Merchandising

Thu, 24 May 2012 07:14:57 +0000

Offering extensive knowledge and fashion expertise, Alan Levine will serve an essential role in the expansion of Astor & Black.

SAN DIEGO, CA, May 24, 2012 /24-7PressRelease/ -- Astor & Black Custom Clothiers announces the recruitment of another vital contributor to their ever-growing company: Alan Levine has joined the company as the new Senior Vice President of Merchandising. Having served most recently as the Vice President of Sales at Gladson Ltd., a leader in the luxury fabrics and accessories industry, Levine provides an unparalleled understanding of the fashion industry and brings over 30 years of experience to the Astor & Black team. Levine is one of many high-level fashion industry veterans that have recently joined Astor & Black because of their innovative business model, which takes custom clothing and a concierge level of service to the front door of busy professionals nationwide.

"Through Alan's experiences over the past 30 years, we knew that he would be a great fit with the Astor & Black business model. His proven track record in sales and merchandising within the luxury fashion space ensures that Astor & Black will continue its pace as the country's fastest-growing custom retailer. We are ecstatic and proud to have such a respected and knowledgeable person join the Astor & Black family," explains Richard Dent, Co-CEO of Astor & Black.

Alan Levine began his career at Louis Boston and began learning the specialty clothing industry from the ground up. After spending 17 years with Louis Boston, Levine began working for Bergdorf Goodman in New York, where he worked as Fashion Director. Levine developed and administered a product knowledge and sales training curriculum to certify sales consultants so they could more effectively sell throughout the store. After seven years with Bergdorf Goodman, Levine continued his career as the Vice President of Sales at Gladson Ltd., during which time he boosted sales to almost five times the volume it was prior to him joining the company. Now with Astor & Black, Levine is looking forward to the next chapter in his remarkable career.

"I am extremely thrilled and honored to join such a renowned company," said Levine. "I have worked with Astor & Black as a fabric supplier for many years and have been thoroughly impressed with their business model, service, and product quality. I am thrilled to be part of this amazing company and look forward to helping them achieve their goals."

ABOUT Astor & Black

David Schottenstein, who was inspired by the old-world craftsmanship and quality of European bespoke tailors, established Astor & Black in 2005. His mission: introduce the luxury of completely custom clothing with personalized service and style guidance at an attainable price.

Since then, Astor & Black has grown to include over 100 Professional Clothiers who meet with their clients at their homes or offices in most major cities nationwide. They offer a wide array of custom clothing options for men and women as well as a complete retail selection for readyto-wear clothing and accessories. The company has received numerous recognitions, including being named in Inc. Magazine's 500 / 5000 list of fastest-growing companies in 2010 and 2011.

Today, Astor & Black is looking to significantly expand its business throughout the United States and Canada. To help with this expansion, the company teamed up with Castanea Partners, a $500 million private equity firm specializing in operational expertise for retail brands. Among their portfolio are such well-known companies as Donald J. Pliner, Urban Decay, and Ippolita Jewelry. With the recent recruitment of a new Co-CEO, Richard Dent (former SVP COO and Co-Leader, Victoria's Secret Pink), Astor & Black is prepared to take its unique products and personalized service to the front door of America.

For more information about Astor & Black, visit www.astorandblack.com.

Contact: Waterhouse Sports & Entertainment

Lindsey Waterhouse

lindsey@waterhousesports.com

310.936.6354

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LateRooms.com - Get Stylish at Winchester Fashion Week

Thu, 24 May 2012 07:10:27 +0000

Winchester Fashion Week returns to the Hampshire city for its second edition on June 9th.

WINCHESTER, ENGLAND, May 24, 2012 /24-7PressRelease/ -- Winchester Fashion Week will be back by popular demand this summer, having enjoyed a successful debut last year.

Running from Saturday June 9th to Saturday June 16th, the not-for-profit event is set to showcase the best of the historic city's fashion scene and associated creative endeavours.

Fashion Week events, including catwalk shows and talks from industry professionals, will be held at venues across Winchester.

The week will adopt a 'Best of British' theme this year, to tie in with a series of special events taking place in Winchester to celebrate the Queen's Diamond Jubilee and the London 2012 Olympic Games.

At the Winchester Discovery Centre on Wednesday June 13th, fashion collector and historian Liz Tregenza is set to deliver a talk entitled Fashion on the Ration.

The discussion will focus on the types of clothing people wore during World War II and the global impact of the conflict on the fashion industry.

Tickets for Fashion Week events are individually priced and available for booking from http://www.winchesterfashionweek.com/index.php.

LateRooms.com offers a large selection of Winchester accommodation that could appeal to visiting fashionistas, including the Highfield House Hotel.

For more information, visit http://www.winchesterfashionweek.com/index.php or contact the box office on 01962 873603.

Editors Notes:

LateRooms.com is part of B2C sector of TUI Travel PLC's Accommodation and Destination Division. Also within this sector are AsiaRooms.com and Hotels-London.co.uk.

LateRooms.com is the UK's leading online accommodation site offering fantastic deals in over 50,000 properties worldwide, ranging from bed and breakfasts to five star luxury hotels.

LateRooms.com offers customers a saving of up to 70 per cent off the normal room rate for a variety of independent and branded hotels. Customers can book online or by phone 24/7, whether booking 12 months or 12 minutes in advance - whatever time, whatever day. No other accommodation site offers this flexibility.

LateRooms.com arms customers with information to help them choose the right hotel. Users can read from over 1.2 million true hotel reviews, written by customers who have booked through LateRooms.com and actually stayed at the hotel.

LateRooms.com is the first online site to use VisitBritain's official national classification system to rate its hotels, bed and breakfasts and guest houses. This ensures customers know the standards of quality they can expect when making a reservation.

To view LateRooms.com press pages, please see http://press.laterooms.com/

Follow LateRooms.com on Twitter - @LateRooms

Join LateRooms.com on Facebook - www.facebook.com/LateRooms

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Costco Wholesale Corporation Reports Third Quarter and Year-to-Date Operating Results for Fiscal Year 2012

Thu, 24 May 2012 07:01:00 +0000

Costco Wholesale Corporation ("Costco" or the "Company") (NASDAQ: COST) announced today its operating results for the third quarter (twelve weeks) and first thirty-six weeks of fiscal 2012, both ended May 6, 2012.

Net sales for the quarter increased eight percent, to $21.85 billion, from $20.19 billion last year. Net sales for the first thirty-six weeks increased ten percent, to $65.54 billion, from $59.46 billion last year.

Comparable sales were as follows:

	12 Weeks	36 Weeks
U.S.	5%	7%
International	5%	8%

Total	5%	8%

Inflation in gasoline prices had a positive impact on comparable sales, particularly for the thirty-six-week period; foreign currencies had a negative impact for both periods. Excluding these effects, comparable sales were as follows:

	12 Weeks	36 Weeks
U.S.	4%	6%
International	8%	9%

Total	5%	7%

Net income for the quarter was $386 million, or $.88 per diluted share, compared to $324 million, or $.73 per diluted share, last year. Net income for the first thirty-six weeks was $1.100 billion, or $2.50 per diluted share, compared to $984 million, or $2.22 per diluted share, last year. The quarter this year included a $6.5 million pre-tax LIFO charge ($.01 per diluted share) compared to a $49 million pre-tax LIFO charge ($.07 per diluted share) last year.

Costco currently operates 602 warehouses, including 435 in the United States and Puerto Rico, 82 in Canada, 32 in Mexico, 22 in the United Kingdom, 13 in Japan, eight in Taiwan, seven in Korea and three in Australia. The Company also operates Costco Online, an electronic commerce web site, at www.costco.com and at www.costco.ca in Canada. The Company plans to open up to an additional six new warehouses prior to the end of its fiscal year on September 2, 2012.

A conference call to discuss these third quarter operating results is scheduled for 8:00 a.m. (PT) today, May 24, 2012, and is available via a webcast on www.costco.com (click on Investor Relations and "Play Webcast").

Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, the effects of competition and regulation, uncertainties in the financial markets, and consumer and small business spending patterns and debt levels, conditions affecting the acquisition, development, ownership or use of real estate, actions of suppliers, rising costs associated with employees (including health care costs), energy and certain commodities, geopolitical conditions, and other risks identified from time to time in the Company's public statements and reports filed with the Securities and Exchange Commission.


COSTCO WHOLESALE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(dollars in millions, except per share data)
(unaudited)


			12 Weeks Ended						36 Weeks Ended
				May 6, 2012			May 8, 2011			May 6, 2012			May 8, 2011

REVENUE
	Net sales		$	21,849		$	20,188		$	65,538		$	59,460
	Membership fees			475			435			1,381			1,277
		Total revenue		22,324			20,623			66,919			60,737
OPERATING EXPENSES
	Merchandise costs			19,543			18,067			58,613			53,059
	Selling, general and administrative			2,151			1,991			6,472			5,970
	Preopening expenses			6			8			22			24
	Provision for impaired assets, closing costs and other, net			1			1			2			7
		Operating income		623			556			1,810			1,677
OTHER INCOME (EXPENSE)
	Interest expense			(19	)		(27	)		(73	)		(80	)
	Interest income and other, net			18			5			65			14
INCOME BEFORE INCOME TAXES				622			534			1,802			1,611
	Provision for income taxes			217			193			657			569
	Net income including noncontrolling interests			405			341			1,145			1,042
	Net income attributable to noncontrolling interests			(19	)		(17	)		(45	)		(58	)
NET INCOME ATTRIBUTABLE TO COSTCO			$	386		$	324		$	1,100		$	984

NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO:
	Basic		$	0.89		$	0.74		$	2.53		$	2.26
	Diluted		$	0.88		$	0.73		$	2.50		$	2.22

	Shares used in calculation (000's)
		Basic		433,791			436,977			434,180			435,913
		Diluted		439,166			443,570			439,748			442,727


COSTCO WHOLESALE CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(dollars in millions)
(unaudited)
Subject to Reclassifications


				May 6, 2012			August 28, 2011
ASSETS
CURRENT ASSETS
	Cash and cash equivalents		$	4,791		$	4,009
	Short-term investments			1,185			1,604
	Receivables, net			1,018			965
	Merchandise inventories			7,044			6,638
	Deferred income taxes and other current assets			553			490
		Total current assets		14,591			13,706
PROPERTY AND EQUIPMENT
	Land			3,950			3,819
	Buildings and improvements			10,639			10,278
	Equipment and fixtures			4,206			4,002
	Construction in progress			244			269
				19,039			18,368
	Less accumulated depreciation and amortization			(6,443	)		(5,936	)
		Net property and equipment		12,596			12,432
OTHER ASSETS				649			623
	TOTAL ASSETS		$	27,836		$	26,761
LIABILITIES AND EQUITY

CURRENT LIABILITIES
	Accounts payable		$	7,302		$	6,544
	Current portion of long-term debt			0			900
	Accrued salaries and benefits			1,765			1,758
	Accrued sales and other taxes			378			335
	Other current liabilities			1,799			1,540
	Deferred membership fees			1,122			973
		Total current liabilities		12,366			12,050
LONG-TERM DEBT, excluding current portion				1,373			1,253
DEFERRED INCOME TAXES AND OTHER LIABILITIES				914			885
		Total liabilities		14,653			14,188

COMMITMENTS AND CONTINGENCIES
EQUITY
	Preferred stock $.005 par value; 100,000,000 shares authorized; no shares issued and outstanding			0			0
	Common stock $.005 par value; 900,000,000 shares authorized; 433,243,000 and 434,266,000 shares issued and outstanding			2			2
	Additional paid-in capital			4,653			4,516
	Accumulated other comprehensive income			319			373
	Retained earnings			7,611			7,111
		Total Costco stockholders' equity		12,585			12,002
	Noncontrolling interests			598			571
		Total equity		13,183			12,573
		TOTAL LIABILITIES AND EQUITY	$	27,836		$	26,761

CONTACTS:

Costco Wholesale Corporation

Richard Galanti
425/313-8203

Bob Nelson
425/313-8255

Jeff Elliott
425/313-8264

Wrapp Lets Finns Give Free Gift Cards to Facebook Friends

Thu, 24 May 2012 07:00:00 +0000

Sokos Department Stores and Indiska Fashion and Home Furnishing Shops Among First Retailers in Finland Making Friend-to-Friend Gift Giving an Everyday Event

Wrapp, the new social gifting app for iPhone and Android smartphones that lets Facebook users give, receive and redeem free gift cards to top retailers, is now up and running in Finland.

"Celebrate any occasion with your Facebook friends. Give them free gift cards from well-known retailers instead of just writing on their wall. It's just as simple and much more fun," said Hjalmar Winbladh, Wrapp's CEO. "Once you send the card, your mutual friends can participate in the gift by increasing the value of the gift card with just a few clicks. And it goes straight to the recipients' phones, so they always have it in their pocket when they're shopping for something they really want."

Free Wrapp gift cards are now available to Finns from popular merchants including:

Björn Borg - designer underwear
Happy Socks - colorful unisex socks
Indiska - bohemian fashion and home furnishings
Ifolor - the most popular photo service in Finland
Lenson - contact lenses online
Nelly.com - clothing, swimwear, footwear and sports fashion for men and women
Skultuna - high-quality brass and sterling silver objects for everyday use and special occasions
Sokos - department stores located in the downtown areas of the largest cities of Finland

"We've known for some time that using social media and mobile phones for marketing is the right thing to do, and we constantly want to try new innovative methods of marketing," said Jesse Jyläs, head of online stores for the Sokos department store chain. "Wrapp has come up with a service that brings us new customers, costs us nothing until a sale is made in our store, and tells us exactly where and when it's working."

Start sending free gift cards to friends and family today. Just download the Wrapp mobile app from Apple's App Store or Google Play. Or use the web app at www.wrapp.com, and connect it to your Facebook account.

Swedish Roots
Wrapp began its unique brand of social gifting in Sweden in November last year. In January this year it received $10.5 million in Series A funding from Greylock Partners and Atomico, which resulted in LinkedIn co-founder Reid Hoffman and Skype co-founder Niklas Zennström joining Wrapp's board of directors. In March Wrapp took its service to Norway and the U.K. And in April Wrapp introduced its service in the U.S. and opened offices in France, Germany, the Netherlands, Turkey, Taiwan, Japan and Australia.

During the last five months nearly 250,000 active Wrapp users have given their Facebook friends over 1.7 million free gift cards that could be redeemed in stores operated by some 70 major U.S. and European retailers.

Participating merchants report that each sale averages four to six times the value of the free gift card they let Wrapp users give to their friends.

About Wrapp
Wrapp is a social gifting service for celebrating friends with free and paid gift cards from top brands. Wrapp allows friends to contribute to the gift cards, and makes them fun and easy to give, receive and redeem using mobile devices and the web. Founded in 2011, Wrapp is based in Stockholm, with offices in the U.S., U.K., France, Germany, Italy, the Netherlands, Turkey, Japan, Australia and Brazil. Celebrate friends every day at www.wrapp.com.

Media contacts:
Greg Spector
Email Contact
+1 415 717 4666

Lisa Rytter
Email Contact
+46 730 360 340