CVS highlights energy-saving measures
Woonsocket, R.I. CVS Caremark details its efforts to better manage its energy consumption and reduce its carbon emissions in the company’s just-released 2009 Corporate Social Responsibility report.
The drugstore chain emitted approximately 1.73 million metric tonnes of CO2e emissions in 2009, of which 90% is generated by electricity consumption. To reduce consumption at its stores, CVS focused on several initiatives in 2009, including installing more efficient lighting and new roofs designed to reflect heat, and integrating its first energy-management systems.
In other moves, the company evaluated renewable energy sources, built new facilities to LEED (Leadership in Energy and Environmental Design) standards and/or environmental considerations and reduced fuel consumption in its distribution networks.
Three lighting projects in the states of Florida, Michigan and Pennsylvania yielded the highest savings of 2,640 MWh, 3,480 MWh and 1,850 MWh, respectively. In addition, CVS rolled out its computer-controlled energy-management system in 50 stores in Florida, and will expand the system to 250 locations in 2010.
In the area of transportation, CVS has reduced the driving speed of its private fleet to 63 miles per hour, and consolidated its deliveries, which has eliminated 6,541 routes across the network. This resulted in nearly 1.2 million fewer miles driven and a savings of 218,730 gallons of fuel. It also prevented the emissions of 2,260 tonnes of CO2.
Limited Brands sees EPS increase
COLUMBUS, Ohio Limited Brands reported that adjusted earnings per share for the first quarter ended May 1, were 25 cents compared with earnings per share of 1 cent for the quarter ended May 2, 2009. First quarter operating income was $185 million compared with operating income of $65.2 million last year, and adjusted net income was $82.9 million compared with net income of $2.6 million last year.
Comparable-store sales for the first quarter increased 10%, and net sales were $1.93 billion compared to $1.72 billion last year.
The company stated that it expects 2010 second-quarter adjusted earnings per share to be 27 cents to 32 cents compared with adjusted earnings per share of 19 cents per share last year.
For 2010, the company expects adjusted earnings per share of $1.60 to $1.80.
Children’s Place Q1 sales, earnings up
SECAUCUS, N.J. The Children’s Place Retail Stores announced first-quarter net income from continuing operations of $28 million, or $1.00 per diluted share for the 13-week period ended May 1, compared with $23.7 million, or 80 cents per share in the first quarter of 2009.
Net sales increased 5% to $422.1 million in the first quarter of 2010, compared with $401.9 in the first quarter of 2009. Comparable-retail sales, which include online sales, declined 0.5% in the first quarter of fiscal 2010 compared with a 1% increase the previous year. During the first quarter of 2010, comparable-store sales declined 1.7% in the United States and 4.6% in Canada, while online sales increased 22%.
“We delivered record financial results and made significant progress on key initiatives in the first quarter of 2010,” commented Jane Elfers, president and CEO of The Children’s Place. “We strengthened the senior leadership team with the appointment of five talented and experienced executives to head our merchandising, planning, outlet, information technology and human resources operations. In addition, we accelerated our new store openings, sharpened our marketing programs and continued to drive double-digit online growth.”
The company updated its guidance for fiscal 2010 and now projects earnings per diluted share from continuing operations will be in the range of $3.05 to $3.15, reflecting its first quarter results, from its initial guidance of $2.90 to $3.10. The company provided initial guidance for the second quarter of 2010, which is forecast to be a loss per share from continuing operations of 38 cents to 33 cents.