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Dublin, April 18, 2017 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "FDA's New Import Program for 2017 - Strict Precision" conference to their offering. FDA's import and export program is complex and keeps changing. The FDA's and the U.S. Custom's new import and enforcement program operates with a streamlined computer system and can leave firms at a loss to understand the short term and long term effects of a detained shipment. The law now requires foreign firms to register and submit specific information to enter U.S. commerce. Foreign establishments are subject to FDA inspections and quality testing. Failing either FDA activity typically prevents a foreign firm's product from entering U.S. commerce. If product is detained, resolving the problem with FDA is time consuming, expensive and uncertain. Without an adequate or informed approach to your import program, the specialized federal government process and roadblocks can seem impossible to overcome. To compound the problems, working with foreign establishments presents inherent difficulties based on cultural differences business practices and language barriers. Other foreign and domestic and legal requirements intersect with FDA's import and export program, some for the better, some not. For example, not all foreign firms are treated the same under the FDA's law. A clear example is the FDA's uses of automatic detention based on the country of origin, type of product or an establishment's history. With the growing use of off-shore operations, managing imported products can and does present obvious and hidden problems. Learning Objectives: - FDA's new cost-saving import programs - Understand how U.S. Customs and FDA legal requirements intersect - Know how to manage foreign suppliers - Understand FDA's internal procedures - Learn how to mitigate and resolve import detentions - Learn how to avoid common problems - Develop practical ways to improve your import and export business Who Should Attend: The FDA's regulatory controls for imported and exported devices have become increasingly pervasive and stringent. Foreign manufacturers, foreign exporters and domestic initial importers face greater scrutiny and are subject to expensive consequences if they do not plan carefully. Attendees need to understand the FDA's and the US Customs Border Patrol's regulatory criteria, inter-agency agreements and intra-agency procedures. The conference provides attendees with the opportunity to understand their work's inter-relationship with other attendees' roles. Agenda: Day 01(8:30 AM - 4:30 PM) 08.30 AM - 09.00 AM: Registration 09.00 AM: Session Start Day 1 - Morning FDA's legal requirements - Statutory authority - Regulations Foreign manufacturers obligations - U.S. initial importers obligations - User Fees - How does FDA do its job - What is CPB and how do they do their job Selecting foreign suppliers - Inspection history - Samples analyzed - Vendor Audit Day 1 / Afternoon Product Import Procedures - Entry Process (U.S. Customs/FDA) - How to Pick the right Custom House Broker - Documentation - FDA Form 2877 - CPB Form 3461 - Medical Device Affirmations of Compliance (AofC) - Electronic Entry Filing - FDA's PREDICT computer screening program - U.S. Customs Automated Commercial Environment (ACE) program - Product sampling / testing - Detention, block list, automatic detention - Quality standards - Country of origin - Product type (Case Study) Day 02 (8:30 AM - 4:00 PM) Day 2 / Morning Detention - Options for a detained shipment - Negotiating with FDA and U.S. Customs - What to say - What not to say - When to give up - Release from Detention and Government Refusal Remedies - Reducing the risk of detention (Group study for mitigating detention risks) Day 2 / Afternoon Enforcement - U.S. Customs and FDA authority - Burden of proof - Assistant U.S. attorney - Government remedies Special provisions - Counterfeit - Import for export - International trade shows - Investigational device - Compassionate Use For more information about this conference visit http://www.researchandmarkets.com/research/lcf8pd/fdas_new_import


Dublin, April 18, 2017 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "FDA's New Import Program for 2017 - Strict Precision" conference to their offering. FDA's import and export program is complex and keeps changing. The FDA's and the U.S. Custom's new import and enforcement program operates with a streamlined computer system and can leave firms at a loss to understand the short term and long term effects of a detained shipment. The law now requires foreign firms to register and submit specific information to enter U.S. commerce. Foreign establishments are subject to FDA inspections and quality testing. Failing either FDA activity typically prevents a foreign firm's product from entering U.S. commerce. If product is detained, resolving the problem with FDA is time consuming, expensive and uncertain. Without an adequate or informed approach to your import program, the specialized federal government process and roadblocks can seem impossible to overcome. To compound the problems, working with foreign establishments presents inherent difficulties based on cultural differences business practices and language barriers. Other foreign and domestic and legal requirements intersect with FDA's import and export program, some for the better, some not. For example, not all foreign firms are treated the same under the FDA's law. A clear example is the FDA's uses of automatic detention based on the country of origin, type of product or an establishment's history. With the growing use of off-shore operations, managing imported products can and does present obvious and hidden problems. Learning Objectives: - FDA's new cost-saving import programs - Understand how U.S. Customs and FDA legal requirements intersect - Know how to manage foreign suppliers - Understand FDA's internal procedures - Learn how to mitigate and resolve import detentions - Learn how to avoid common problems - Develop practical ways to improve your import and export business Who Should Attend: The FDA's regulatory controls for imported and exported devices have become increasingly pervasive and stringent. Foreign manufacturers, foreign exporters and domestic initial importers face greater scrutiny and are subject to expensive consequences if they do not plan carefully. Attendees need to understand the FDA's and the US Customs Border Patrol's regulatory criteria, inter-agency agreements and intra-agency procedures. The conference provides attendees with the opportunity to understand their work's inter-relationship with other attendees' roles. Agenda: Day 01(8:30 AM - 4:30 PM) 08.30 AM - 09.00 AM: Registration 09.00 AM: Session Start Day 1 - Morning FDA's legal requirements - Statutory authority - Regulations Foreign manufacturers obligations - U.S. initial importers obligations - User Fees - How does FDA do its job - What is CPB and how do they do their job Selecting foreign suppliers - Inspection history - Samples analyzed - Vendor Audit Day 1 / Afternoon Product Import Procedures - Entry Process (U.S. Customs/FDA) - How to Pick the right Custom House Broker - Documentation - FDA Form 2877 - CPB Form 3461 - Medical Device Affirmations of Compliance (AofC) - Electronic Entry Filing - FDA's PREDICT computer screening program - U.S. Customs Automated Commercial Environment (ACE) program - Product sampling / testing - Detention, block list, automatic detention - Quality standards - Country of origin - Product type (Case Study) Day 02 (8:30 AM - 4:00 PM) Day 2 / Morning Detention - Options for a detained shipment - Negotiating with FDA and U.S. Customs - What to say - What not to say - When to give up - Release from Detention and Government Refusal Remedies - Reducing the risk of detention (Group study for mitigating detention risks) Day 2 / Afternoon Enforcement - U.S. Customs and FDA authority - Burden of proof - Assistant U.S. attorney - Government remedies Special provisions - Counterfeit - Import for export - International trade shows - Investigational device - Compassionate Use For more information about this conference visit http://www.researchandmarkets.com/research/lcf8pd/fdas_new_import


FDA's import and export program is complex and keeps changing. The FDA's and the U.S. Custom's new import and enforcement program operates with a streamlined computer system and can leave firms at a loss to understand the short term and long term effects of a detained shipment. The law now requires foreign firms to register and submit specific information to enter U.S. commerce. Foreign establishments are subject to FDA inspections and quality testing. Failing either FDA activity typically prevents a foreign firm's product from entering U.S. commerce. If product is detained, resolving the problem with FDA is time consuming, expensive and uncertain. Without an adequate or informed approach to your import program, the specialized federal government process and roadblocks can seem impossible to overcome. To compound the problems, working with foreign establishments presents inherent difficulties based on cultural differences business practices and language barriers. Other foreign and domestic and legal requirements intersect with FDA's import and export program, some for the better, some not. For example, not all foreign firms are treated the same under the FDA's law. A clear example is the FDA's uses of automatic detention based on the country of origin, type of product or an establishment's history. With the growing use of off-shore operations, managing imported products can and does present obvious and hidden problems. Learning Objectives: - FDA's new cost-saving import programs - Understand how U.S. Customs and FDA legal requirements intersect - Know how to manage foreign suppliers - Understand FDA's internal procedures - Learn how to mitigate and resolve import detentions - Learn how to avoid common problems - Develop practical ways to improve your import and export business Agenda: Day 01(8:30 AM - 4:30 PM) 08.30 AM - 09.00 AM: Registration 09.00 AM: Session Start Day 1 - Morning FDA's legal requirements - Statutory authority - Regulations Foreign manufacturers obligations - U.S. initial importers obligations - User Fees - How does FDA do its job - What is CPB and how do they do their job Selecting foreign suppliers - Inspection history - Samples analyzed - Vendor Audit Day 1 / Afternoon Product Import Procedures - Entry Process (U.S. Customs/FDA) - How to Pick the right Custom House Broker - Documentation - FDA Form 2877 - CPB Form 3461 - Medical Device Affirmations of Compliance (AofC) - Electronic Entry Filing - FDA's PREDICT computer screening program - U.S. Customs Automated Commercial Environment (ACE) program - Product sampling / testing - Detention, block list, automatic detention - Quality standards - Country of origin - Product type (Case Study) Day 02 (8:30 AM - 4:00 PM) Day 2 / Morning Detention - Options for a detained shipment - Negotiating with FDA and U.S. Customs - What to say - What not to say - When to give up - Release from Detention and Government Refusal Remedies - Reducing the risk of detention (Group study for mitigating detention risks) Day 2 / Afternoon Enforcement - U.S. Customs and FDA authority - Burden of proof - Assistant U.S. attorney - Government remedies Special provisions - Counterfeit - Import for export - International trade shows - Investigational device - Compassionate Use For more information about this conference visit http://www.researchandmarkets.com/research/hd9q64/fdas_new_import Research and Markets Laura Wood, Senior Manager press@researchandmarkets.com For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/two-day-programme-fdas-new-import-program-for-2017---strict-precision-philadelphia-pa-united-states---august-24-25-2017---research-and-markets-300441163.html


News Article | July 20, 2017
Site: www.prnewswire.com

Intriguing, unexpected and enlightening, Third Rail with OZY promises to present new voices and valuable dialogue for the digital age. In a fresh addition to the PBS line-up, Watson will frame each week's half-hour show around a single, provocative question. Expert and celebrity guests will debate it in the studio each Friday, moderated by Watson, and informed by the weeklong social media conversation leading up to it. The series' underlying query in this contentious age is: can dialogue–informed by data–alter people's points of view? "Third Rail with OZY will be sharp, smart, and–we hope–fun.  WGBH's partnership with OZY Media creates a rare and important opportunity for Americans to really listen to each other, and engage with a diverse range of viewpoints for a new type of conversation," says Denise DiIanni, series creator and Senior Executive in Charge for WGBH. "After the success of Point Taken in 2016, we are excited to welcome Carlos Watson back to PBS stations this fall. Carlos brings a unique combination of smarts and razor-sharp wit to his role as host and moderator, exploring a range of topics that are timely and relevant to the concerns of the American public," said Marie Nelson, Vice President, News and Public Affairs, PBS.  "While there are many issues that divide our country, there is often common ground to be found. We are proud to continue to serve as a platform for spirited and civil discussion." Online and social media voting will be used to assess outcomes of each week's debate. Viewpoints posted on Facebook and Twitter, and on PBS.org, will be integrated and displayed as part of the program. To frame and inform the televised and digital discourse, the Marist Institute for Public Opinion will conduct advance, exclusive national surveys on each of Third Rail's featured questions. The Conversation US, a media outlet aggregating academic and research content, will be an editorial collaborator. "Third Rail with OZY will be an arena for open and honest conversations about provocative topics, offering a variety of viewpoints and spirited debate on some of the most critical issues facing our society today," explains Carlos Watson, OZY.com Editor in Chief and host of Third Rail with OZY. "Now more than ever it is important we bring these conversations out of the shadows and into the light, offering people perspective and an opportunity to make their voices heard." Third Rail with OZY is a co-production of Studio Six at WGBH Boston and OZY Media. Host: Carlos Watson. Executive in Charge: Denise DiIanni. Executive Producers: Eugenia Harvey and Cameo George. Funding is provided by PBS, the Corporation for Public Broadcasting and The Pew Charitable Trusts. About WGBH Boston WGBH Boston is one of America's preeminent public broadcasters and the largest producer of PBS broadcast and digital content, including Frontline, NOVA, American Experience, Masterpiece, Antiques Roadshow, Arthur, as well as other children's, primetime, and lifestyle series. WGBH also is a major supplier of programming for public radio, and a leader in educational multimedia for the classroom, supplying content to PBS LearningMedia, a free national broadband service for teachers and students. WGBH is a pioneer in technologies and services that make media accessible to those with hearing or visual impairments. WGBH has been recognized with hundreds of honors: Emmys, Peabodys, duPont-Columbia Awards and Oscars. More information at wgbh.org. About OZY Media With 25 million monthly unique users and 2 million subscribers, OZY brings readers "the new and the next," offering 100% original content, with a focus on the future, via unique OZY News, OZY Magazine, OZY TV and OZY Events products. Called "the new media magnet for the news hungry" by Fortune magazine, OZY's in-depth and high-quality journalism has attracted a number of high-profile media partners including The New York Times, NPR, PBS NewsHour, TED, The Financial Times, The Huffington Post and many more, as well as guest editors including Bill Gates, President Bill Clinton, and Prime Minister Tony Blair.  Founded in 2013 by Emmy award winning journalist Carlos Watson and co-founder Samir Rao, the OZY team is based in Mountain View, CA and backed by leading Silicon Valley investors including Laurene Powell Jobs, Ron Conway, David Drummond, Larry Sonsini and Dan Rosensweig and a significant investment from publishing giant Axel Springer. About PBS PBS, with 350 member stations, offers all Americans the opportunity to explore new ideas and new worlds through television and online content. Each month, PBS reaches nearly 100 million people through television and nearly 33 million people online, inviting them to experience the worlds of science, history, nature and public affairs; to hear diverse viewpoints; and to take front row seats to world-class drama and performances. PBS' broad array of programs has been consistently honored by the industry's most coveted award competitions. Teachers of children from pre-K through 12th grade turn to PBS for digital content and services that help bring classroom lessons to life. PBS' premier children's TV programming and its website, pbskids.org, are parents' and teachers' most trusted partners in inspiring and nurturing curiosity and love of learning in children. More information about PBS is available at www.pbs.org, one of the leading dot-org websites on the Internet, or by following PBS on Twitter, Facebook or through our apps for mobile devices. pbs.org/pressroom About CPB The Corporation for Public Broadcasting (CPB), a private, nonprofit corporation created by Congress in 1967, is the steward of the federal government's investment in public broadcasting. It helps support the operations of nearly 1,500 locally owned and operated public television and radio stations nationwide. CPB is also the largest single source of funding for research, technology and program development for public radio, television and related online services. For more information, visit CPB.org, follow us on Twitter @CPBmedia, Facebook,  and LinkedIn, and subscribe for email updates.


News Article | May 24, 2017
Site: www.businesswire.com

CAMDEN, N.J. & EL SEGUNDO, Calif.--(BUSINESS WIRE)--Campbell Soup Company (NYSE:CPB) today announced a strategic partnership and investment of $10 million in Chef’d, a best-in-class e-commerce meal marketplace, which will help grow Campbell’s e-commerce capabilities. Campbell’s investment is part of the Series B round of funding for Chef’d. With the investment, Campbell will become Chef’d’s largest strategic investor and will receive a seat on the company’s board of directors. Under the terms of the partnership, Chef’d will help with infrastructure and distribution of meal solutions through the Campbell’s Kitchen site. Additionally, Campbell will benefit from Chef’d’s insights on e-commerce business models, access to data analytics and insights on shopper behaviors. The two companies will also test various capabilities over the three-year agreement around product innovation and fulfilment. “E-commerce will transform the food industry in similar ways to how it transformed entertainment and apparel. It is a game changer for consumers, food makers and retailers alike,” said Denise Morrison, President and Chief Executive Officer at Campbell Soup Company. “The movement is irrevocable and irreversible. In the future, shopping for and preparing meals will be flexible, fully automated and even anticipatory. Chef’d will help Campbell connect with our consumers where they are today and, more importantly, where they’re headed.” Chef’d offers people the opportunity to choose and reorder from hundreds of meals at any given time, without the hassle and cost of subscriptions or membership fees. Chef’d partners with notable chefs, culinary personalities and over 125 trusted brands in food, fitness, and health and wellness to offer over 1,000 meal solutions spanning breakfast, lunch, dinner and dessert. “We are actively looking to add strategic partners and Campbell’s outlook on the future of food and e-commerce aligns perfectly with the Chef’d vision of the future of online grocery,” said Kyle Ransford, CEO at Chef’d. “Both Campbell and Chef’d believe in continuing to drive innovation in the new food economy, particularly around consumer customization and e-commerce solutions.” Between 2016 and 2021, Campbell projects e-commerce sales of food and beverages to reach $66 billion, a compound annual growth rate of 38 percent.1 “We are fully committed to growing our e-commerce business with an emphasis on bold moves and rapid pace,” said Mark Alexander, President, Americas Simple Meals and Beverages at Campbell. “We are firm believers in building relationships with partners that share our vision while enabling us to rapidly learn, evolve and test new capabilities.” This announcement follows a series of moves Campbell has made to develop an ecosystem of innovative partners focused on defining the future of food. In February 2016, Campbell committed $125 million to Acre Venture Partners and continues to support innovative start-ups such as Habit and the Soulfull Project. Other investors in Chef’d’s Series B round include Fresh Direct, which is making a follow-on investment to their Series A investment. DA Davidson & Co. acted as the exclusive financial advisor to Chef’d and will continue to represent the company in raising the balance of the Series B round. Campbell (NYSE:CPB) is driven and inspired by our Purpose, “Real food that matters for life’s moments.” We make a range of high-quality soups and simple meals, beverages, snacks and packaged fresh foods. For generations, people have trusted Campbell to provide authentic, flavorful and readily available foods and beverages that connect them to each other, to warm memories and to what’s important today. Led by our iconic Campbell’s brand, our portfolio includes Pepperidge Farm, Bolthouse Farms, Arnott’s, V8, Swanson, Pace, Prego, Plum, Royal Dansk, Kjeldsens and Garden Fresh Gourmet. Founded in 1869, Campbell has a heritage of giving back and acting as a good steward of the planet’s natural resources. The company is a member of the Standard & Poor’s 500 and the Dow Jones Sustainability Indexes. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo. To learn more about how we make our food and the choices behind the ingredients we use, visit www.whatsinmyfood.com. Headquartered in El Segundo, Calif., Chef’d is an e-commerce meal marketplace that partners with celebrated chefs, media outlets and culinary influencers to offer thousands of meal solutions that make it easy for anyone to cook high-quality meals at home. Launched in late April 2015, Chef’d was created to help consumers rethink the home-cooked meal by offering fresh, pre-portioned ingredients that aim to eliminate food waste and in turn cut consumer grocery costs, all without the hassle of subscription or membership fees. This allows consumers to personalize their orders and reorder their favorites whenever they want. Follow on Twitter @get_chefd and Instagram @Chefd.


The FDA continues to change its import program to better manage new problems and to use new procedures to make the whole process easier. The FDA and U.S. Customs and Border Protection (CBP) are relying more and more on computer programs to expedite the import process. When and how you use these programs can make a big difference in the net profit derived from even a single shipment. The new Voluntary Qualified Importer Program (VQIP) is one such example. Another example is CBP's and FDA's implementation of the Automated Commercial Environment (ACE) program, which will become mandatory for importers in 2016. If you fail to correctly use new import procedures and programs, you will be operating under an expensive disadvantage. - FDA's new cost-saving import programs - Understand how U.S. Customs and FDA legal requirements intersect - Know how to manage foreign suppliers - Understand FDA's internal procedures - Learn how to mitigate and resolve import detentions - Learn how to avoid common problems - Develop practical ways to improve your import and export business - You will be able to answer the following questions with this course without saying, I don't know? - What are the FDA's import legal requirements and policy? - How do you deal with the FDA and the U.S. Customs and Border Patrol procedures? - What happens when your product is detained? - What happens if a foreign manufacturer is in trouble with the FDA? - How do you inter-act with the FDA to work out problems? - Why are import and export rules different or does it even matter? FDA's import and export program is complex and keeps changing. The FDA's and the U.S. Custom's new import and enforcement program operates with a streamlined computer system and can leave firms at a loss to understand the short term and long term effects of a detained shipment. The law now requires foreign firms to register and submit specific information to enter U.S. commerce. Foreign establishments are subject to FDA inspections and quality testing. Failing either FDA activity typically prevents a foreign firm's product from entering U.S. commerce. If product is detained, resolving the problem with FDA is time consuming, expensive and uncertain. Without an adequate or informed approach to your import program, the specialized federal government process and roadblocks can seem impossible to overcome. To compound the problems, working with foreign establishments presents inherent difficulties based on cultural differences business practices and language barriers. Other foreign and domestic and legal requirements intersect with FDA's import and export program, some for the better, some not. For example, not all foreign firms are treated the same under the FDA's law. A clear example is the FDA's uses of automatic detention based on the country of origin, type of product or an establishment's history. With the growing use of off-shore operations, managing imported products can and does present obvious and hidden problems. Agenda: Day 01(8:30 AM - 4:30 PM) 08.30 AM - 09.00 AM: Registration 09.00 AM: Session Start Day 1 - Morning Foreign manufacturers obligations - U.S. initial importers obligations - User Fees - How does FDA do its job - What is CPB and how do they do their job Day 1 / Afternoon Product Import Procedures - Entry Process (U.S. Customs/FDA) - How to Pick the right Custom House Broker - Documentation (Case Study) Day 02 (8:30 AM - 4:00 PM) Day 2 / Morning Detention - Options for a detained shipment - Negotiating with FDA and U.S. Customs - What to say - What not to say - When to give up - Release from Detention and Government Refusal Remedies - Reducing the risk of detention (Group study for mitigating detention risks) Day 2 / Afternoon Enforcement - U.S. Customs and FDA authority - Burden of proof - Assistant U.S. attorney - Government remedies Special provisions - Counterfeit - Import for export - International trade shows - Investigational device - Compassionate Use For more information about this conference visit http://www.researchandmarkets.com/research/2svcpn/fdas_new_import To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/two-day-seminar-on-the-fdas-new-import-program-for-2017-strict-precision-boston-ma-united-states---november-9-10-2017---research-and-markets-300464436.html


COSTA MESA, Calif.--(BUSINESS WIRE)--D.A. Davidson & Co. announced that it has served as exclusive financial advisor to Chef’d, Inc., a best in class e-commerce meal marketplace, in its first closing of the Series B capital raise with Campbell Soup Company (NYSE:CPB) and Fresh Direct, LLC. The transaction makes Campbell the largest strategic investor in Chef’d, an El Segundo, California-based company. As part of this first close, Fresh Direct made a follow-on investment to their Series A investment. Chef’d offers consumers across the U.S. the opportunity to choose and reorder meals at any given time without the hassle and cost of subscriptions or membership fees. Chef’d collaborates with a rapidly growing group of commercial partners. To date, the company has aligned with over 125 different groups, including notable chefs, culinary personalities, media outlets, technology companies, and a host of trusted brands in food, fitness and health & wellness to offer over 1,000 meal solutions spanning all meal occasions. “We are always looking to add strategic partners and Campbell’s outlook on the future of food and e-commerce aligns perfectly with the Chef’d vision of the future of online grocery,” said Kyle Ransford, CEO at Chef’d. “Both Campbell and Chef’d believe in continuing to drive innovation in the new food economy, particularly around consumer customization and e-commerce solutions.” “Chef’d is a true innovator in the rapidly growing direct-to-consumer food market. It is fitting that they have aligned with a dynamic, progressive, forward-looking organization such as Campbell Soup Company,” said Jeff Cleveland, Managing Director and Head of Food, Beverage and Agriculture Investment Banking at D.A. Davidson. “We are privileged to represent Chef’d in securing this and future investments.” Kyle Ransford added, “We look forward to continuing to work with Jeff and his team at D.A. Davidson. They have been instrumental in positioning our company for this capital raise and in representing Chef’d in the marketplace as a trusted advisor.” Campbell’s and Fresh Direct’s investment is the first closing of the Series B capital raise. D.A. Davidson continues to represent Chef’d as their exclusive financial advisor in the Series B capital raise. D.A. Davidson’s investment banking division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise and has extensive transaction experience serving middle market clients worldwide. D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 and headquartered in Montana, with corporate offices in Denver, Costa Mesa, Portland, Salt Lake City and Seattle, the company has more than 1,300 employees and offices in 23 states. Subsidiaries include: D.A. Davidson & Co., the largest full-service investment firm headquartered in the Northwest, providing wealth management, investment banking, equity and fixed income capital markets services and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.


News Article | May 12, 2017
Site: www.businesswire.com

LONDON--(BUSINESS WIRE)--Citi Private Bank (CPB) was named best UK Private Bank for Client Service and Best UK UHNW team, at the WealthBriefing European Awards 2017, held in London on 11th May. Commenting on the award wins, the judges noted that it was CPB’s “family office leadership programme event and its impressive offering around the Brexit vote” that was a stand out for the client service award, adding that in addition to this, it was the bank’s very high client retention rate of 99%, that secured them the UHNW team award. Commenting on the award wins, Jeremy Knowland, global market manager, Citi Private Bank UK said: “It is a great honour to be recognised for these awards and is testament to the hard work and dedication shown by our team here in the UK. We pride ourselves in the unique service offered to our clients and these awards are a clear indication that these efforts are being recognised throughout the industry.” Showcasing ‘best of breed’ providers in the global private banking, wealth management and trusted advisor communities, the awards were designed to recognise companies, teams and individuals which the prestigious panel of judges deemed to have ‘demonstrated innovation and excellence during 2016’. Citi Private Bank advises some of the world's wealthiest, most influential individuals and families. With $374 billion in global assets under management, the franchise includes 49 offices in 15 countries, serving clients across 139 countries. The firm offers clients products and services covering capital markets, managed investments, portfolio management, trust and estate planning, investment finance, banking and aircraft finance, as well as art and sports advisory and finance. About ClearView Financial Media Ltd (“ClearView”) ClearView Financial Media was founded by CEO, Stephen Harris in 2004, to provide high quality ‘need to know’ information for the discerning private client community. London-based, but with a truly global focus, ClearView publishes the WealthBriefing group of newswires, along with research reports and newsletters, while also running a pan-global thought-leadership events programme. With teams based in London, Singapore, Switzerland, US, South Africa and the Philippines, the company is one of the fastest-growing media groups serving the financial services sector.


News Article | February 17, 2017
Site: www.businesswire.com

Note: A detailed reconciliation of the reported (GAAP) financial information to the adjusted financial information is included at the end of this news release. Denise Morrison, Campbell’s President and Chief Executive Officer, said, “ I am not satisfied with our sales performance this quarter. Declines were most prominent in Campbell Fresh driven by a market share decline and weather-related issues in carrots, capacity constraints from the Bolthouse Farms Protein PLUS recall last June, and Garden Fresh Gourmet. Although V8 shelf-stable beverages declined, I am encouraged by the positive momentum in our core U.S. soup, simple meals and Pepperidge Farm snacks businesses. U.S. soup sales increased in the quarter, driven by our ready-to-serve varieties, such as Chunky and new Well Yes!, which performed above expectations. “ C-Fresh performance was below our expectations. The new C-Fresh management team has conducted an extensive review of the business and has determined the recovery will take longer to execute than we originally planned. As a result, we no longer expect C-Fresh to grow this fiscal year. Despite these challenges, we remain confident in the growth potential of the packaged fresh category. C-Fresh continues to be an important strategic business for Campbell to meet growing consumer demand for fresh foods and interest in health and well-being. “ We continued to over-deliver on our cost savings initiative, and now expect to achieve our target a year ahead of schedule. We have increased our savings target from $300 million by the end of fiscal 2018 to $450 million by the end of fiscal 2020. Looking ahead, we expect to improve our sales performance in the back half and are maintaining our guidance for the fiscal year.” The company reported earnings of $0.33 per share in the quarter. In the second quarter of fiscal 2017, the company performed an interim impairment assessment on the intangible assets of the Bolthouse Farms carrot and carrot ingredients reporting unit and the Garden Fresh reporting unit as operating performance was well below expectations and the new leadership team of the Campbell Fresh division initiated a strategic review. This performance and review led to a revised outlook for future sales, earnings and cash flow. The current quarter results reflect a pre-tax non-cash impairment charge of $147 million, or $0.45 per share, to reduce the carrying value of the intangible assets of the Bolthouse Farms carrot and carrot ingredients reporting unit. The current quarter results also reflect a pre-tax non-cash impairment charge of $65 million, or $0.13 per share, to reduce the carrying value of the intangible assets of the Garden Fresh reporting unit. The prior-year quarter included pre-tax charges related to cost savings initiatives of $16 million, or $0.03 per share, and a pre-tax gain related to a pension benefit mark-to-market adjustment of $7 million, or $0.01 per share. Excluding items impacting comparability in both periods, adjusted EPS increased 5 percent to $0.91 per share, compared with $0.87 per share in the year-ago quarter. A detailed reconciliation of the reported (GAAP) financial information to the adjusted information is included at the end of this news release. Sales decreased 1 percent to $2.171 billion driven by the decline in organic sales, partially offset by the favorable impact of currency translation. Organic sales decreased 2 percent driven by lower volume and higher promotional spending. Gross margin increased from 37.2 percent to 38.0 percent. Excluding items impacting comparability in the prior year, adjusted gross margin improved 0.7 percentage points. The increase in adjusted gross margin was primarily driven by productivity improvements and the benefits from cost savings initiatives, partly offset by higher supply chain costs and inflation, as well as higher promotional spending. The adjusted gross margin increase reflects the continued gross margin expansion in Americas Simple Meals and Beverages. The increase in supply chain costs was primarily driven by higher carrot costs in the quarter due to the adverse impact on crop yields of heavy rains in December and January. Marketing and selling expenses increased 6 percent to $237 million. Excluding items impacting comparability in the prior year, adjusted marketing and selling expenses increased 5 percent primarily due to higher advertising and consumer promotion expenses. Administrative expenses decreased 5 percent to $139 million. Excluding items impacting comparability in the prior year, adjusted administrative expenses decreased 3 percent primarily due to lower incentive compensation costs compared to the prior year, partly offset by higher benefit-related costs and investments in long-term innovation. EBIT decreased 50 percent to $205 million, principally driven by the impairment charges in the current-year quarter. Excluding items impacting comparability, adjusted EBIT decreased 1 percent to $417 million reflecting lower sales and higher marketing and selling expenses, partly offset by a higher adjusted gross margin percentage. Net interest expense increased 4 percent to $28 million reflecting higher average interest rates on the debt portfolio, partly offset by lower levels of debt. The tax rate increased to 42.9 percent as compared with a tax rate of 31.5 percent in the prior year. Excluding items impacting comparability, the adjusted tax rate decreased 3.8 percentage points to 27.8 percent as the timing of tax expense on an adjusted basis was favorably impacted by the goodwill impairment. The outlook for the full-year adjusted tax rate remains unchanged and is expected to be approximately 32 percent. Sales decreased 1 percent to $4.373 billion driven by a 1 percent decline in organic sales, partly offset by the favorable impact of currency translation. EBIT decreased 9 percent to $662 million. Excluding items impacting comparability, adjusted EBIT was comparable to the prior year at $905 million reflecting a higher adjusted gross margin percentage and lower administrative expenses, offset by higher marketing and selling expenses and volume declines. Net interest expense increased 2 percent to $56 million reflecting higher average interest rates on the debt portfolio, partly offset by lower levels of debt. The tax rate increased 3.2 percentage points to 35.1 percent. Excluding items impacting comparability, the adjusted tax rate decreased 2.7 percentage points to 30.2 percent. Cash flow from operations decreased to $667 million from $754 million a year ago primarily due to changes in accrued liabilities, principally accrued taxes and accrued incentive compensation. In fiscal 2015, Campbell launched a comprehensive reorganization and multi-year cost savings initiatives with targeted annualized cost savings of $300 million by fiscal 2018. Campbell now expects to achieve $300 million in cost savings by the end of fiscal 2017, a year earlier than anticipated. Based on the success of the program to date and the identification of additional savings opportunities, the savings target is being increased from $300 million by the end of fiscal 2018 to $450 million by the end of fiscal 2020. Campbell continues to expect sales to increase by 0 to 1 percent, adjusted EBIT to increase by 1 to 4 percent, and adjusted EPS to increase by 2 to 5 percent, or $3.00 to $3.09 per share. This guidance assumes the impact from currency translation will be nominal. A non-GAAP reconciliation is not provided for 2017 guidance since certain items are not estimable, such as pension and postretirement mark-to-market adjustments, and these items are not considered to be part of the company's ongoing business results. An analysis of net sales and operating earnings by reportable segment follows: Sales in the quarter were comparable to the prior year at $1.231 billion. Excluding the favorable impact of currency translation, segment sales decreased 1 percent driven by declines in V8 beverages, partly offset by gains in soup, Prego pasta sauces and Plum products. Sales of U.S. soup increased 1 percent driven by gains in ready-to-serve soups, mostly offset by declines in broth and condensed soups. Segment operating earnings increased 8 percent to $313 million. The increase was driven by a higher gross margin percentage, partly offset by increased advertising and consumer promotion expenses. Sales in the quarter were comparable to the prior year at $680 million. Excluding the favorable impact of currency translation, segment sales decreased 1 percent primarily driven by declines in Kelsen, primarily in the U.S., and Arnott’s biscuits, partly offset by gains in Pepperidge Farm. Pepperidge Farm sales increased due to gains in Goldfish crackers and Pepperidge Farm cookies, partly offset by declines in fresh bakery and frozen products. Segment operating earnings decreased 4 percent to $135 million. The decrease was primarily driven by a lower gross margin percentage. Sales in the quarter decreased 8 percent to $260 million driven by lower sales of carrots, Bolthouse Farms refrigerated beverages, and Garden Fresh Gourmet, partly offset by gains in refrigerated soup. Segment operating earnings decreased from $21 million to a loss of $3 million reflecting increased carrot costs due to the adverse impact on crop yields of heavy rains in December and January, as well as the cost impact of lower beverage operating efficiency and lower sales. Unallocated corporate expenses for the quarter were $241 million compared to $29 million in the prior year. The current-year quarter included the pre-tax non-cash impairment charges of $212 million related to the Campbell Fresh segment. The prior-year quarter included $7 million of pre-tax charges associated with Campbell’s initiatives to implement a new enterprise design, to reduce costs and to streamline its organizational structure. The prior-year quarter also included a $7 million pre-tax gain related to a pension benefit mark-to-market adjustment. Campbell will host a conference call to discuss these results today at 9:00 a.m. Eastern Time. To join, dial +1 (703) 639-1316. The conference ID is 40985838. Access to a live webcast of the call with accompanying slides, as well as a replay of the call, will be available at investor.campbellsoupcompany.com. A recording of the call will also be available until midnight on March 3, 2017, at +1 (404) 537-3406. The access code for the replay is 40985838. Campbell (NYSE:CPB) is driven and inspired by our Purpose, “ Real food that matters for life’s moments.” We make a range of high-quality soups and simple meals, beverages, snacks and packaged fresh foods. For generations, people have trusted Campbell to provide authentic, flavorful and readily available foods and beverages that connect them to each other, to warm memories and to what’s important today. Led by our iconic Campbell’s brand, our portfolio includes Pepperidge Farm, Bolthouse Farms, Arnott’s, V8, Swanson, Pace, Prego, Plum, Royal Dansk, Kjeldsens and Garden Fresh Gourmet. Founded in 1869, Campbell has a heritage of giving back and acting as a good steward of the planet’s natural resources. The company is a member of the Standard & Poor’s 500 and the Dow Jones Sustainability Indexes. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo. To learn more about how we make our food and the choices behind the ingredients we use, visit www.whatsinmyfood.com. This release contains “forward-looking statements” that reflect the company’s current expectations about the impact of its future plans and performance on the company’s business or financial results. These forward-looking statements, including the statements made regarding sales, EBIT and EPS guidance for fiscal 2017, rely on a number of assumptions and estimates that could be inaccurate and which are subject to risks and uncertainties. The factors that could cause the company’s actual results to vary materially from those anticipated or expressed in any forward-looking statement include (1) the company’s ability to manage changes to its organizational structure and/or business processes; (2) the company’s ability to realize projected cost savings and benefits from its efficiency programs; (3) the impact of strong competitive responses to the company’s efforts to leverage its brand power in the market; (4) the impact of changes in consumer demand for the company’s products and favorable perception of the company’s brands; (5) the impact of product quality and safety issues, including recalls and product liabilities; (6) the risks associated with trade and consumer acceptance of the company’s initiatives, including its trade and promotional programs; (7) the practices, including changes to inventory practices, and increased significance of certain of the company’s key trade customers; (8) the impact of disruptions to the company’s supply chain, including fluctuations in the supply or costs of energy and raw and packaging materials; (9) the impact of non-U.S. operations, including trade restrictions, public corruption and compliance with foreign laws and regulations; (10) the impact of business portfolio changes; (11) the uncertainties of litigation and regulatory actions against the company; (12) disruption to the independent contractor distribution models used by certain of the company’s businesses, including the results of litigation or regulatory actions that could affect their independent contractor classification; (13) the company’s ability to protect its intellectual property rights; (14) the impact of an impairment to goodwill or other intangible assets; (15) the impact of increased liabilities and costs related to the company’s defined benefit pension plans; (16) the impact of a material failure in or breach of the company’s information technology systems; (17) the company’s ability to attract and retain key talent; (18) the impact of changes in currency exchange rates, tax rates, interest rates, debt and equity markets, inflation rates, economic conditions, law, regulation and other external factors; (19) the impact of unforeseen business disruptions in one or more of the company’s markets due to political instability, civil disobedience, terrorism, armed hostilities, natural disasters or other calamities; and (20) other factors described in the company’s most recent Form 10-K and subsequent Securities and Exchange Commission filings. The company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release. Certain amounts in the prior year were reclassified to conform to the current-year presentation. The company adopted new accounting guidance for stock-based compensation in the first quarter of 2017. Certain amounts in the prior year were reclassified to conform to the current-year presentation. Reconciliation of GAAP to Non-GAAP Financial Measures Second Quarter Ended January 29, 2017 Campbell Soup Company uses certain non-GAAP financial measures as defined by the Securities and Exchange Commission in certain communications. These non-GAAP financial measures are measures of performance not defined by accounting principles generally accepted in the United States and should be considered in addition to, not in lieu of, GAAP reported measures. Management believes that also presenting certain non-GAAP financial measures provides additional information to facilitate comparison of the company's historical operating results and trends in its underlying operating results, and provides transparency on how the company evaluates its business. Management uses these non-GAAP financial measures in making financial, operating and planning decisions and in evaluating the company's performance. Organic net sales are net sales excluding the impact of currency. Management believes that excluding this item, which is not part of the ongoing business, improves the comparability of year-to-year results. A reconciliation of net sales as reported to organic net sales follows. The company believes that financial information excluding certain items that are not considered to be part of the ongoing business, such as those listed below, improves the comparability of year-to-year results. Consequently, the company believes that investors may be able to better understand its results excluding these items. The following items impacted gross margin, costs and expenses, and earnings: The following tables reconcile financial information, presented in accordance with GAAP, to financial information excluding certain items:


News Article | February 22, 2017
Site: www.businesswire.com

CAMDEN, N.J.--(BUSINESS WIRE)--Campbell Soup Company (NYSE:CPB) President and Chief Executive Officer Denise Morrison and Senior Vice President and Chief Financial Officer Anthony DiSilvestro provided an overview of the company’s strategic direction during the Consumer Analyst Group of New York (CAGNY) Conference in Boca Raton, Fla. today. Morrison shared her perspective on the state of the food industry and the consumer environment, and highlighted the steps Campbell is taking to define the future of real food through strategic foresight. Morrison said, “ Across every industry and in every organization, the pace of change is unpredictable, unrelenting and unforgiving. The future food world will be more complex and more challenging. To fully unlock Campbell’s performance, we're looking beyond typical five-year planning horizons and establishing well-informed perspectives on opportunities and disruptions driven by the intersection of real food, health and well-being and technology.” “ Guided by our Purpose and our strategic imperatives, we set out to identify clear and compelling growth opportunities. We prioritized these growth platforms we believe will have the greatest impact on Campbell and lead to significant growth opportunities over the next decade,” said Morrison. “ We have what we need to meet the challenges of this new world. If you look closely at the 148-year history of Campbell, we are not only a company that has proven ourselves capable of dealing with profound change … we are a company with a history of leading profound change, and we are a company that has thrived in periods of profound change. I’m confident that we can and will do so again in the future.” DiSilvestro provided an update on the company’s three divisions and its multi-year cost savings program, which has generated cost savings by reducing layers of management and increasing spans of control, creating an integrated global services organization and implementing zero-based budgeting. While Campbell’s current initiatives will generate in excess of $300 million in savings, the company has identified additional areas of savings opportunity, leading the company to increase its aggregate savings target to $450 million by the end of fiscal 2020. The company expects to achieve these additional savings by further optimizing its supply chain network, primarily in North America; evolving its operating model over time to focus resources on growth opportunities and drive additional efficiencies; and more fully integrating recent acquisitions to generate cost synergies and improve effectiveness by leveraging enterprise scale and capabilities. Cost savings to date have contributed to recent margin expansion and funded reinvestments in the business. DiSilvestro said, “ Our strategy is to reinvest a portion of these savings in order to drive growth. We'll do this a number of ways including increasing marketing support on our key brands, funding new product launches and investing against our real food initiative; making investments in long-term innovation; focusing on geographic expansion in faster-growing spaces; and building our capabilities in digital and e-commerce.” Today’s presentation will be archived on investor.campbellsoupcompany.com and available for replay later today. Campbell (NYSE:CPB) is driven and inspired by our Purpose, “ Real food that matters for life’s moments.” We make a range of high-quality soups and simple meals, beverages, snacks and packaged fresh foods. For generations, people have trusted Campbell to provide authentic, flavorful and readily available foods and beverages that connect them to each other, to warm memories and to what’s important today. Led by our iconic Campbell’s brand, our portfolio includes Pepperidge Farm, Bolthouse Farms, Arnott’s, V8, Swanson, Pace, Prego, Plum, Royal Dansk, Kjeldsens and Garden Fresh Gourmet. Founded in 1869, Campbell has a heritage of giving back and acting as a good steward of the planet’s natural resources. The company is a member of the Standard & Poor’s 500 and the Dow Jones Sustainability Indexes. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo. To learn more about how we make our food and the choices behind the ingredients we use, visit www.whatsinmyfood.com. This release contains “forward-looking statements” that reflect the company’s current expectations about the impact of its future plans and performance on the company’s business or financial results. These forward-looking statements include statements made regarding the company’s marketing strategies and its new enterprise structure and cost reduction initiative. Forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and which are subject to risks and uncertainties. The factors that could cause the company’s actual results to vary materially from those anticipated or expressed in any forward-looking statement include (1) the company’s ability to manage changes to its organizational structure and/or business processes; (2) the company’s ability to realize projected cost savings and benefits from its efficiency programs; (3) the impact of strong competitive responses to the company’s efforts to leverage its brand power in the market; (4) the impact of changes in consumer demand for the company’s products and favorable perception of the company’s brands; (5) the impact of product quality and safety issues, including recalls and product liabilities; (6) the risks associated with trade and consumer acceptance of the company’s initiatives, including its trade and promotional programs; (7) the practices, including changes to inventory practices, and increased significance of certain of the company’s key trade customers; (8) the impact of disruptions to the company’s supply chain, including fluctuations in the supply or costs of energy and raw and packaging materials; (9) the impact of non-U.S. operations, including trade restrictions, public corruption and compliance with foreign laws and regulations; (10) the impact of business portfolio changes; (11) the uncertainties of litigation and regulatory actions against the company; (12) disruption to the independent contractor distribution models used by certain of the company’s businesses, including the results of litigation or regulatory actions that could affect their independent contractor classification; (13) the company’s ability to protect its intellectual property rights; (14) the impact of an impairment to goodwill or other intangible assets; (15) the impact of increased liabilities and costs related to the company’s defined benefit pension plans; (16) the impact of a material failure in or breach of the company’s information technology systems; (17) the company’s ability to attract and retain key talent; (18) the impact of changes in currency exchange rates, tax rates, interest rates, debt and equity markets, inflation rates, economic conditions, law, regulation and other external factors; (19) the impact of unforeseen business disruptions in one or more of the company’s markets due to political instability, civil disobedience, terrorism, armed hostilities, natural disasters or other calamities; and (20) other factors described in the company’s most recent Form 10-K and subsequent Securities and Exchange Commission filings. The company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.

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