Sam’s Club Embraces Sustainability
Wal-Mart Stores continues to burnish its green reputation, opening its most earth-friendly Sam’s Club to date. The store, in Fayetteville, Ark., showcases numerous sustainable features, some of which, such as the skylights and energy-efficient LED lighting with motion sensors in the freezer cases, are being used increasingly throughout the chain. Others are less common, including:
Improved daylight harvesting/skylighting system (with more than 200 skylights) that reduces consumption more than in previous locations;
Closed-loop CO2 secondary refrigerant system in the freezer cases and a closed-loop secondary glycol system in the chilled food/beverages area dramatically reduces refrigerant charge and greenhouse gas impact;
On-site water treatments that include two 35,000-sq.-ft. gallon above-ground tanks that harvest rainwater to use in landscaping via a drip irrigation system, bio-swale that removes sediment from water before it can enter stormwater sewer system, customer car wash that reclaims 60% of the water used, and a storm sewer inlet that allows for debris to fall out before entering the stormwater treatment inlet.
There is also a big emphasis recycling, with services for tires, batteries, cardboard, food waste and building materials. A baler compacts and packages all of the shrink wrap used to hold merchandise on pallets. The plastic is then sold and reused for a wide range of products.
Signage is located throughout the building and its grounds, identifying the club’s sustainable componants.
Winn-Dixie team honored for turnaround
JACKSONVILLE, Fla. The team that lead Winn-Dixie Stores’ successful turnaround initiative is being honored by the Turnaround Management Association for the best ‘Mega Company Turnaround’ for 2007. Comprised of financial experts from The Blackstone Group, Skadden, Arps, Slate, Meagher & Flom and Smith Hulsey & Busey, the team helped Winn-Dixie regain the market share and profits it started to lose in the mid 1990s and early 2000s to competitors Publix and Wal-Mart.
Winn-Dixie filed for Chapter 11 bankruptcy in early 2005 after reporting year-to-date losses of $552.8 million or $3.93 per share of common stock and a decline of 4.9% in identical-store sales in its second fiscal quarter over the same period in 2004.
Despite the difficulty of achieving a succesful turnaround, Winn-Dixie began its reorganization effort, while still continuing to operate its core business and preserving jobs. According to the Turnaround Management Association, it created new common stock for five classes of unsecured creditors, with recoveries ranging from about 96% to 53%. The company emerged from bankruptcy on Nov. 21, 2006.
For its fiscal year ended June 27, Winn-Dixie reported adjusted EBITDA of $85.9 million compared to a loss of $27.8 million last year and an identical-store sales increase of 1.6%
Sears ends deal with maternity retailer
PHILADELPHIA Sears and Mothers Work, the world’s leading maternity apparel retailer, will not be renewing their agreement, Mothers Work announced today. Under their current agreement, Mothers Works operates the maternity apparel department in 502 Sears stores through the sale of its Two Hearts Maternity branded merchandise.
Mothers Work said it expects its partnership with Sears to end on June 20, 2008, when it current deal with the company is expected to expire.
Rebecca Matthias, president and ceo of Mothers Work, noted, “While we are disappointed about the end of our relationship with Sears, we feel the decision not to proceed with a renewal is in the best interest of our stockholders since we were unable to reach terms on a renewal which would be favorable for Mothers Work and our stockholders. “