OPERATIONS

Best Buy gets stellar score from Carbon Disclosure Project

BY Marianne Wilson

Minneapolis — Best Buy Co. received its highest score ever from the Carbon Disclosure Project (CDP), which represents 655 institutional investors with $78 trillion in assets, for its performance and approach to the disclosure of climate change information.

Best Buy was recognized by the CDP in both the Carbon Disclosure Leadership Index (CDLI), scoring a 96 for disclosure, and the Carbon Performance Leadership Index (CPLI), scoring an “A” for performance. The combined score of 96A is tied for the second-highest score among S&P 500 companies, and is the highest combined score among retailers. It’s also the highest combined score among all Minnesota-based companies.

“Our goal to reduce the carbon emissions of Best Buy by 20% in North America by 2020 is a key driver for operational efficiency,” said Leo Raudys, senior director, environmental sustainability, Best Buy. “The inclusion in both the CDP S&P 500 Carbon Disclosure Leadership Index and the CDP S&P 500 Carbon Performance Leadership Index shows we’re making great progress streamlining our business and conserving resources in the communities we serve.”

Best Buy’s climate change and carbon reduction strategy is focused on reducing operating costs and risks, assuring business continuity due to weather and/or climate change impacts, and generating value through new business development that provides energy efficiency solutions for our customers. In 2011, process improvements to greenhouse gas impacted activities, store redesign, reduced plugs loads from Energy Star equipment and displays, and lighting retrofits resulted in a 4.3% decrease to the previous year’s emissions.

The CPLI highlights those companies within the S&P 500 Index that have demonstrated a strong approach to climate strategy and emissions reduction in their CDP responses. The CDLI, a key component of CDP’s annual S&P 500 report, highlights the constituent companies within the S&P 500 Index which have displayed a strong approach to information disclosure regarding climate change.

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REAL ESTATE

Brian Atwood makes retail debut with flagship in New York City

BY Staff Writer

New York — Brian Atwood, designer of luxury footwear and handbags, opened its first flagship, in New York City. The company was acquired by The Jones Group Inc. last June.

The store, designed by William Sofield of Studio Sofield, in collaboration with designer Brian Atwood, spans 1,500 sq. ft. of retail space and houses the largest selection of Brian Atwood footwear and handbags in the world. Select items are labeled with quick response (QR) codes, allowing customers to use their smartphone or an in-store iPad to activate a series of videos in which the designer shares insider details like his inspiration and other anecdotes.

Designed to convey the glamorous lifestyle synonymous with Brian Atwood, the salons feature satin upholstered cylindrical displays, mirrored panel walls and rock crystal ornament detailing. The store’s color palette ranges from aubergine and violet to sea foam and mercury.

Brian Atwood, creative director and designer of Brian Atwood, said: "I wanted the store to be the chicest luxury haven – where beauty encompasses you from the moment you walk in, like a Faberge egg."

Other brand-centric design details include stiletto heel facade window displays and shelving with mohair and antique bronze trimmed shoe trays. The Sofield-designed custom furniture, such as the curved settees in violet mohair with bullion fringe trim and the satin scroll benches, is a mix of Regency and French flourish.

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News

Kodak ready to talk reorganization with shareholders

BY CSA STAFF

ROCHESTER, N.Y. — Kodak is moving forward with its plans to emerge from bankruptcy and said Friday it is ready to discuss reorganization plans with certain key creditor groups.

To facilitate these discussions with the widest possible group of interested parties, including holders of publicly-traded securities, the company is publicly disclosing certain forward-looking information showing its cash flow forecast and financial projections for Kodak’s commercial imaging business, which is focused on commercial, packaging, and functional printing solutions and enterprise services, and will form the company upon emergence.

These projections include forecasts of its U.S. operating cash flow through June 2013, as well as pro-forma projections of the company’s combined operating cash flow after taking into account previously announced portfolio strategy decisions, such as the intention to divest the document imaging and personalized imaging businesses, as well as its intention to wind down the sale of consumer inkjet printers and focus on servicing its installed base of customers.

Kodak chairman and CEO Antonio Perez said, “As we move forward to emergence and explore an array of financing options, we believe there is confidence and interest among the financial community in our commercial imaging business and its future business plans. We are gratified that there appears to be interest among several potential lenders to finance this business and its emergence, and with this disclosure, we are now better positioned to explore these funding opportunities.”

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