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Zuora’s Subscribed Institute Welcomes Boston Consulting Group to the Think Tank

Zuora’s Subscribed Institute Welcomes Boston Consulting Group to the Think Tank

New Research Partnership Focuses on Strategies for Optimizing High Growth Subscriptions

REDWOOD CITY, Calif.–(BUSINESS WIRE)–Zuora, Inc., (NYSE:ZUO) the leading subscription management platform provider, today announced its joint research with Boston Consulting Group (BCG) in collaboration with the Subscribed Institute, Zuora’s think tank for the Subscription Economy®. BCG joins the Institute’s growing ecosystem of partners, academics, and practitioners, focused on solving the challenges and unlocking opportunities to help subscription companies succeed.

The newest research1 from BCG and the Subscribed Institute suggests that 70-80% of the revenue of a successful subscription business should come from existing customers to optimize growth. However, many companies often fall short of monetizing those relationships, according to the report, “How to Nail the “Land and Expand” Model to Drive Subscription Growth.”

Co-author and pricing expert John Pineda, Partner and Director at BCG said, “Freemium models are useful for customer acquisition and expansion, but not for generating actual revenue growth. Technology companies that focus on landing a bunch of new accounts, without taking care of them will end up losing customers, as well as the incredible growth they represent. Pricing to value is key to improving core business profitability– and the subscription model makes it easy.”

The report explores the direct correlation between the “land and expand” strategy and annual recurring revenue, by comparing non-subscription to subscription-based technology companies. Findings suggest that businesses with 70-80% of revenue coming from existing customers can achieve:

  • Nearly 2X Annual Recurring Revenue (ARR) Growth. When compared to traditional Hardware and Software companies, enterprise SaaS companies consistently focus on the expansion of revenue across four critical dimensions: upselling, cross-selling, growing volume, and capturing price increases.
  • 30% Higher ARR. SaaS companies are stronger than non-SaaS companies at escaping the “leaky bucket” trap with a stronger investment in providing ongoing value to existing customers.
  • Bigger Upsell Opportunity. For SaaS companies, land, expand, and retain performance improves with increase in ARR.Companies with more than $100 million in ARR consistently outperformed companies with less than $10 million in ARR in overall growth (+14%), average net expansion (+12%), upsell revenue expansion (+10%), new customer growth (+2%), and churn (3% lower).

“As-a-service business models are the future of economic growth,” said Amy Konary, Founder and Chair, the Subscribed Institute at Zuora and former IDC analyst for digital business models of nearly 20 years. “We’re thrilled to partner with BCG to continue providing the world with the leading research and expertise on subscription strategy and monetization.”

Download the report here for best practices to improve your company’s Land and Expand approach in today’s Subscription Economy. Pineda and Konary are also published by the World Economic Forum.

For more information, contact the Subscribed Institute at:

https://www.subscribed.com/subscribed-institute

About Zuora, Inc.

Zuora provides the leading cloud-based subscription management platform that functions as a system of record for subscription businesses across all industries. Powering the Subscription Economy®, the Zuora platform was architected specifically for dynamic, recurring subscription business models and acts as an intelligent subscription management hub that automates and orchestrates the entire subscription order-to-revenue process seamlessly across billing and revenue recognition. Zuora serves more than 1,000 companies around the world, including Box, Ford, Penske Media Corporation, Schneider Electric, Siemens, Xplornet, and Zoom. Headquartered in Silicon Valley, Zuora also operates offices around the world in the U.S., EMEA and APAC. To learn more about the Zuora platform, please visit www.zuora.com.

© 2021 Zuora, Inc. All Rights Reserved. Zuora is a trademark or registered trademark of Zuora, Inc. Third party trademarks mentioned above are owned by their respective companies.

About Boston Consulting Group

Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we help clients with total transformation—inspiring complex change, enabling organizations to grow, building competitive advantage, and driving bottom-line impact.

To succeed, organizations must blend digital and human capabilities. Our diverse, global teams bring deep industry and functional expertise and a range of perspectives to spark change. BCG delivers solutions through leading-edge management consulting along with technology and design, corporate and digital ventures—and business purpose. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, generating results that allow our clients to thrive.

SOURCE: Zuora Financial

1How to Nail the “Land and Expand” Model to Drive Subscription Growth, Boston Consulting Group (BCG)’s Value Science team and Subscribed Institute, March 2021

Jayne Gonzalez

[email protected]

408-348-1087

KEYWORDS: United States North America California Massachusetts

INDUSTRY KEYWORDS: Internet Data Management Other Technology Technology Software

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Vijay Konda Joins Korn Ferry as Vice President of Cloud Architecture for Korn Ferry Digital

Vijay Konda Joins Korn Ferry as Vice President of Cloud Architecture for Korn Ferry Digital

LOS ANGELES–(BUSINESS WIRE)–
Korn Ferry (NYSE: KFY) today announced that Vijay Konda has joined the firm as the vice president of Cloud Architecture for the firm’s Digital business. He is based in Boston.

Konda joins Korn Ferry from Charles River Development, a software company, where he was vice president of Cloud Architecture. Previously, he was the chief architect for the Markets group at Bank Of New York Mellon and a cloud architect for a private equity firm, where he built the data architecture strategy for their core applications. Konda started his career as a software engineer at Hewlett Packard.

Konda is the founder of TheFoyer.com LLC, where he developed web scraping technology to aggregate information from multiple sources on the web and successfully integrated the technology with financial sites and bill payment sites. The technology was acquired by Cyberbills, Inc. Most recently, Konda founded BlockTrust, which focuses on blockchain research in Ethererum, Hypderledger Fabric, and other blockchain systems such as Tendermint.

As the head of Cloud Architecture for Korn Ferry Digital, Konda will be building the architecture for the Korn Ferry Intelligence Cloud, an artificial intelligence platform that pulls together market intelligence and Korn Ferry owned data to provide insights and recommended actions to deliver business outcomes. The Korn Ferry Intelligence Cloud combines data to benchmark against industry, peers, and best practices to help leaders make better decisions about their organization, leadership, and people.

“Vijay will be responsible for delivering an architecture capable of providing highly scalable, fault tolerant services for the Korn Ferry Intelligence Cloud,” said Satish Gannu, chief technology officer, Korn Ferry Digital. “He has spent the last 20 years in architecting distributed and cloud-based solutions, digitization, and startup solutions. Vijay is an expert in financial services, video conferencing vertical solutions, big data, cloud platforms, and blockchain. We’re honored to have him on the team.”

Konda holds a bachelor’s degree in computer science from Regional Engineering College, Warangal, India, and a master’s degree in computer science from Indian Institute of Technology, Mumbai.

About Korn Ferry

Korn Ferry is a global organizational consulting firm. We work with our clients to design optimal organization structures, roles, and responsibilities. We help them hire the right people and advise them on how to reward and motivate their workforce while developing professionals as they navigate and advance their careers.

Erica Shannon

(214) 665-3040

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Professional Services Data Management Technology Other Technology Human Resources Consulting

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PROS Holdings, Inc. Announces Date of First Quarter 2021 Financial Results Release, Conference Call, and Webcast

PROS Holdings, Inc. Announces Date of First Quarter 2021 Financial Results Release, Conference Call, and Webcast

HOUSTON–(BUSINESS WIRE)–PROS® (NYSE: PRO), a provider of AI-powered solutions that optimize selling in the digital economy, will release its financial results for the first quarter ended March 31, 2021 after the U.S. financial markets close on Tuesday, May 4, 2021.

PROS Holdings, Inc. will host a conference call on Tuesday, May 4, 2021 at 4:45 p.m. EDT to discuss the company’s financial results and business outlook. To access this call, dial 1-877-407-9039 (toll-free) or 1-201-689-8470.

The live and archived webcasts of this call can be accessed under the “Investor Relations” section of the Company’s website at www.pros.com. A telephone replay will be available until Tuesday May 18, 2021 at 1-844-512-2921 (toll-free) or 1-412-317-6671 using the pass code 13718107.

About PROS

PROS Holdings, Inc. (NYSE: PRO) provides AI-powered solutions that optimize selling in the digital economy. PROS solutions make it possible for companies to price, configure, and sell their products and services in an omnichannel environment with speed, precision, and consistency. Our customers, who are leaders in their markets, benefit from decades of data science expertise infused into our industry solutions.

Investor Contact:

PROS Investor Relations

Belinda Overdeput

713-335-5895

[email protected]

Media Contact:

Amanda Parrish

832-924-4731

[email protected]

KEYWORDS: United States North America Texas

INDUSTRY KEYWORDS: Mobile/Wireless Technology Security Other Technology Software Networks Internet Data Management Retail Online Retail

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Alnylam to Webcast Presentation at 20th Annual Needham Virtual Healthcare Conference

Alnylam to Webcast Presentation at 20th Annual Needham Virtual Healthcare Conference

CAMBRIDGE, Mass.–(BUSINESS WIRE)–Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, announced today that management will present a company overview at the 20th Annual Needham Virtual Healthcare Conference on Tuesday, April 13, 2021 at 1:30 pm ET.

A live audio webcast of the presentation will be available on the Investors section of the Company’s website at www.alnylam.com/events. A replay will be available on the Alnylam website within 48 hours after the event.

About Alnylam

Alnylam (Nasdaq: ALNY) is leading the translation of RNA interference (RNAi) into a whole new class of innovative medicines with the potential to transform the lives of people afflicted with rare genetic, cardio-metabolic, hepatic infectious, and central nervous system (CNS)/ocular diseases. Based on Nobel Prize-winning science, RNAi therapeutics represent a powerful, clinically validated approach for the treatment of a wide range of severe and debilitating diseases. Founded in 2002, Alnylam is delivering on a bold vision to turn scientific possibility into reality, with a robust RNAi therapeutics platform. Alnylam’s commercial RNAi therapeutic products are ONPATTRO® (patisiran), GIVLAARI® (givosiran), OXLUMO™ (lumasiran), and Leqvio® (inclisiran) being developed and commercialized by Alnylam’s partner Novartis. Alnylam has a deep pipeline of investigational medicines, including six product candidates that are in late-stage development. Alnylam is executing on its “Alnylam P5x25” strategy to deliver transformative medicines in both rare and common diseases benefiting patients around the world through sustainable innovation and exceptional financial performance, resulting in a leading biotech profile. Alnylam is headquartered in Cambridge, MA. For more information about our people, science and pipeline, please visit www.alnylam.com and engage with us on Twitter at @Alnylam, on LinkedIn, or on Instagram.

Alnylam Pharmaceuticals, Inc.

Christine Regan Lindenboom

(Investors and Media)

617-682-4340

Josh Brodsky

(Investors)

617-551-8276

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Biotechnology Pharmaceutical Health

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Greenleaf Foods Expands Field Roast™ and Lightlife® Plant-Based Products at Whole Foods Market Stores Nationwide

Greenleaf Foods Expands Field Roast™ and Lightlife® Plant-Based Products at Whole Foods Market Stores Nationwide

Whole Foods is the first to offer the new Field Roast Plant-Based Signature Stadium Dog, also adds Lightlife Plant-Based Italian Sausages and Breakfast Patties to shelves

CHICAGO–(BUSINESS WIRE)–
Greenleaf Foods, SPC, owner of leading plant-based brands Lightlife® (“Lightlife”) and Field Roast™ (“Field Roast”), announced today that it is significantly expanding its distribution at Whole Foods Market stores to meet increasing consumer demand for quality, flavorful plant-based protein. Whole Foods Market will be the first retailer to sell the Field Roast Signature Stadium Dog and will expand its Lightlife offerings to include Lightlife Plant-Based Italian Sausages and Plant-Based Breakfast Patties in all regions nationwide.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210406005213/en/

Whole Foods Market is the first retailer to sell the Field Roast Signature Stadium Dog and is expanding its Lightlife offerings to include Lightlife Plant-Based Italian Sausages and Plant-Based Breakfast Patties in all regions nationwide. (Photo: Business Wire)

Whole Foods Market is the first retailer to sell the Field Roast Signature Stadium Dog and is expanding its Lightlife offerings to include Lightlife Plant-Based Italian Sausages and Plant-Based Breakfast Patties in all regions nationwide. (Photo: Business Wire)

“Whole Foods is known for its commitment to quality, wellness and sustainability, which closely aligns with our portfolio, so we’re incredibly excited and proud to grow our partnership,” said Dan Curtin, President of Greenleaf Foods. “Our expansion with Whole Foods furthers Greenleaf Foods’ goal of making plant-based food widely accessible across the country.”

Just in time for baseball and summer BBQ season, Whole Foods Market will be the first retailer to offer consumers the latest plant-based innovation from Field Roast. The Field Roast Signature Stadium Dog is the only plant-based hot dog made with pea protein, rather than soy, and is double smoked using maple hard wood chips. It will be sold in a six-link pack in the plant-based section of all Whole Foods Market locations, alongside Lightlife Plant-Based Sausages and Plant-Based Breakfast Patties, also debuting at the retailer this month. Nearly 20 Field Roast and Lightlife plant-based products are already available at the retailer, including fan favorites like Field Roast Miniature Corn Dogs, Chao Creamery dairy-free cheese, Field Roast Smoked Apple & Sage Plant-Based Sausage, Lightlife Tempeh, Lightlife Smart Bacon, Lightlife Smart Dogs and more.

The retail expansion of the Field Roast Signature Stadium Dog comes on the heels of its recent foodservice debut at Wienerschnitzel and on famed Chef Roy Choi’s Los Angeles-based Kogi Trucks. The Field Roast Signature Stadium Dog will also roll out nationally in retail this April.

For recipe ideas and to find a store near you that sells Lightlife and Field Roast products, visit Lightlife.com and FieldRoast.com.

About Greenleaf Foods, SPC

Greenleaf Foods, SPC, is transforming plant-based protein with a wide array of delicious and innovative products that satisfy consumers interested in adding protein variety to their diets. Our leading brands include Lightlife® (“Lightlife”) and Field Roast™ (“Field Roast”). Together, these brands are delighting loyal, longtime fans and enticing new ones who never knew plant-based protein could taste so good. The Lightlife and Field Roast portfolios feature nearly 50 products and represent a leading market position in the refrigerated, plant-based protein category in the U.S. Greenleaf Foods, SPC is a wholly owned, independent subsidiary of Maple Leaf Foods Inc. (TSX:MFI).

Media: Nicole Pierce, [email protected]

Investor Relations: [email protected]

KEYWORDS: United States North America Illinois

INDUSTRY KEYWORDS: Food/Beverage Agriculture Natural Resources Retail Supermarket

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Whole Foods Market is the first retailer to sell the Field Roast Signature Stadium Dog and is expanding its Lightlife offerings to include Lightlife Plant-Based Italian Sausages and Plant-Based Breakfast Patties in all regions nationwide. (Photo: Business Wire)
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AtriCure to Announce First Quarter 2021 Financial Results

AtriCure to Announce First Quarter 2021 Financial Results

MASON, Ohio–(BUSINESS WIRE)–AtriCure, Inc. (Nasdaq: ATRC), a leading innovator in treatments for atrial fibrillation (Afib) and left atrial appendage (LAA) management, today announced that it will release its first quarter 2021 financial results on Tuesday, April 27, 2021.

AtriCure will host a conference call at 4:30 p.m. Eastern Time on Tuesday, April 27, 2021 to discuss its first quarter 2021 financial results. The call may be accessed through an operator by calling (844) 884-9951 for domestic callers and (661) 378-9661 for international callers using conference ID number 3349395. A live audio webcast of the presentation may be accessed by visiting the Investors page of AtriCure’s corporate website at ir.atricure.com. A replay of the presentation will be available for 90 days following the presentation.

About AtriCure

AtriCure, Inc. provides innovative technologies for the treatment of Afib and related conditions. Afib affects more than 33 million people worldwide. Electrophysiologists and cardiothoracic surgeons around the globe use AtriCure technologies for the treatment of Afib and reduction of Afib related complications. AtriCure’s Isolator® Synergy™ Ablation System is the first and only medical device to receive FDA approval for the treatment of persistent Afib. AtriCure’s AtriClip® Left Atrial Appendage Exclusion System products are the most widely sold LAA management devices worldwide. For more information, visit AtriCure.com or follow us on Twitter @AtriCure.

Angie Wirick

AtriCure, Inc.

Chief Financial Officer

(513) 755-5334

[email protected]

Lynn Pieper Lewis

Gilmartin Group

Investor Relations

(415) 937-5402

[email protected]

KEYWORDS: United States North America Ohio

INDUSTRY KEYWORDS: Cardiology Biotechnology Other Health Health General Health Other Science Medical Devices Research Hospitals Surgery Science

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PicsArt Opens UK Hub In Latest Global Expansion Move

PicsArt Opens UK Hub In Latest Global Expansion Move

Acclaimed UK-Based VP of Design to Lead Efforts in Region

SAN FRANCISCO–(BUSINESS WIRE)–PicsArt, the world’s largest creative platform, today announced the opening of its newest office in the U.K. Headquartered in San Francisco, PicsArt’s workforce spans the globe with growing offices and employees in Yerevan, Armenia, Los Angeles, Moscow, Beijing, Tokyo and India. In the past year alone, PicsArt has expanded its employee headcount by 36%. Establishing a new office in the U.K. is PicsArt’s latest move in its strategy to meet the needs of its user base of more than 150 million monthly active creators worldwide.

The announcement follows PicsArt’s recent hiring of its VP of Design, acclaimed designer Duncan Riley, who is based in the U.K. In this role, Riley will lead the expansion of the new hub, which will be focused on Product Development and Design. Riley brings more than 18 years of experience growing creative teams and crafting global user experiences for a host of leading brands, including Shazam, Skyscanner, Snapchat, NBCUniversal, Viacom, Absolute Radio and more.

“At PicsArt we are building the best all-round creator experience possible, allowing anyone and everyone to perfect their everyday moments, express their passions, promote their business, or even create art. I’m excited to get started with the incredible talent here at PicsArt, and begin growing the UK-based team to support our vision in 2021,” Riley shared.

Of the buildout, PicsArt founder and CEO Hovhannes Avoyan says, “As a globally-minded and operated company of more than 700 employees, our goal is to best serve the many ways PicsArt creators use our product across the world. We are excited to come to the U.K. and welcome new members and all of their insights and contributions to build amazing things together for our active and dynamic user base.”

In addition to hiring for its new U.K. hub, PicsArt is actively hiring in other global regions – including remote-based positions – in design, engineering, product operations, marketing, content, and more. For more information on current open roles, prospective applicants can visit https://picsart.com/jobs.

About PicsArt

PicsArt is the world’s #1 creative platform and a top 20 most downloaded app for seven consecutive quarters. Every month, the PicsArt community creates, remixes and shares billions of visual stories using the company’s powerful and easy-to-use editing tools. PicsArt has amassed one of the largest open-source content collections in the world, including free-to-edit photos, stickers, backgrounds, templates and more. PicsArt is available in 30 languages for free and as a subscription on iOS, Android and Windows devices. PicsArt is backed by Sequoia Capital, DCM Ventures, Insight Partners, and Siguler Guff & Company. Download the app or visit picsart.com or picsart.com/brands/ for more information.

Kristin Tinsley, Director of Marketing Communications

[email protected]

KEYWORDS: Europe United States United Kingdom North America California

INDUSTRY KEYWORDS: Technology Mobile/Wireless Arts/Museums Entertainment Photography Audio/Video Software Other Entertainment General Entertainment

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OneSpan to Announce First Quarter Financial Results on May 4, 2021

OneSpan to Announce First Quarter Financial Results on May 4, 2021

CHICAGO–(BUSINESS WIRE)–
OneSpan Inc. (NASDAQ: OSPN), the global leader in securing remote banking transactions, today announced it will release its first quarter 2021 financial results after market close Tuesday, May 4, 2021.

On May 4, 2021 at 4:30 p.m. ET, OneSpan will host a conference call to discuss its first quarter 2021 financial results. A live webcast of the conference call will be available via the OneSpan Investor Relations website at: investors.onespan.com. Shortly after the conclusion of the call, a replay of the webcast will be available at the same website.

Connect to the webcast:

Dial-in telephone numbers for the conference call are:

  • US/Canada: 844-802-2443
  • International: +1-412-902-4277

The conference ID number is 10154256

Investors accessing the conference call via telephone are encouraged to dial-in at least 15 minutes early.

About OneSpan

OneSpan helps protect the world from digital fraud by establishing trust in people’s identities, the devices they use and the transactions they carry out. We do this by making digital banking accessible, secure, easy and valuable. OneSpan’s Trusted Identity platform and security solutions significantly reduce digital transaction fraud and enable regulatory compliance for more than 10,000 customers, including over half of the top 100 global banks. Whether through automating agreements, detecting fraud or securing financial transactions, OneSpan helps reduce costs and accelerate customer acquisition while improving the user experience. Learn more at OneSpan.com.

Copyright© 2021 OneSpan North America Inc., all rights reserved. OneSpan™ is a registered or unregistered trademark of OneSpan North America Inc. or its affiliates in the U.S. and other countries.

Investor contact:

Joe Maxa

Vice President of Investor Relations

+1-312-766-4009

[email protected]

KEYWORDS: United States North America Illinois New York

INDUSTRY KEYWORDS: Professional Services Security Technology Finance Software Banking

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Kohl’s Opens Sixth E-Commerce Fulfillment Center to Support Growing Digital Demand and Supply Chain Efficiencies

Kohl’s Opens Sixth E-Commerce Fulfillment Center to Support Growing Digital Demand and Supply Chain Efficiencies

  • Investment in e-commerce fulfillment supports Kohl’s continued online demand and digital sales acceleration
  • Next-generation facility leverages technology and automation to drive greater supply chain efficiencies
  • Opening brings 400 new jobs to Columbus-area with thousands of seasonal positions during holiday peak

MENOMONEE FALLS, Wis.–(BUSINESS WIRE)–Kohl’s (NYSE: KSS) today announced the opening of its sixth e-commerce fulfillment center in Etna, Ohio (10201 Schuster Way) to support the company’s continued online demand and digital sales acceleration. The 1.2 million square-foot facility is Kohl’s largest, most efficient fulfillment center and will be dedicated to processing, filling and shipping Kohls.com orders. The next-generation facility leverages automation and technology to make processing and delivering Kohls.com orders faster and more efficient. Construction of the facility began in 2019, was temporarily paused in 2020 due to the pandemic, and resumed in 2021.

“Over the past five years, Kohl’s digital sales have grown more than 100 percent. Our investment in a highly efficient sixth e-commerce fulfillment center will meaningfully grow our peak fulfillment capacity,” said Paul Gaffney, Kohl’s senior executive vice president, chief technology officer and head of supply chain. “The new facility makes Kohl’s more efficient at fulfilling orders via automation and modern technology, puts Kohl’s products geographically closer to our customers, and ultimately gets our great products to our customers faster.”

As part of its strategic framework, Kohl’s is focused not only on driving top line growth, but on increasing operating margin, including end-to-end supply chain efficiencies. The new e-commerce fulfillment center supports the company’s initiatives to manage fulfillment costs at a lower level, while further leveraging stores to drive customer pickup and get closer to the customer.

State-of-the-Art Automation and Technology

The Etna, Ohio facility is equipped with state-of-the-art technology, making it three times more productive than Kohl’s traditional e-commerce fulfillment centers. By removing five touches from the full fulfillment life-cycle of an online order, orders are processed more efficiently and minimize fulfillment costs, without sacrificing accuracy.

Full-Time, Part-Time and Seasonal Positions Available

With the opening of the new e-commerce fulfillment center, Kohl’s will bring more than 400 new jobs to the Columbus-area over the next few months and plans to add thousands of seasonal positions in the back half of the year to support increased digital demand during peak seasons. In addition to an exciting, supportive work environment rooted in a culture of appreciation and opportunity, Kohl’s offers competitive wages, weekly paychecks, a free on-site wellness center for associates and their families, and an immediate 15 percent Kohl’s discount. Interested applicants should visit Careers.Kohls.com/etna or text “apply” to 24508 for information.

Robust Fulfillment Network

In response to continued online demand and digital sales acceleration, Kohl’s has invested significantly over the past several years in building a powerful omnichannel platform to deliver the ease and convenience customers are looking for. In addition to Kohl’s e-commerce fulfillment centers, the company also leverages the strength of its more than 1,100 stores nationwide to fulfill Kohls.com orders. In 2020, Kohl’s stores fulfilled nearly 45 percent of digital orders through fast and free omnichannel services including Drive Up, In Store Pick Up and Ship to Store.

In 2017, Kohl’s opened its fifth e-commerce fulfillment center in Plainfield, Ind. Based on learning from that facility, Kohl’s made design improvements to drive greater speed and efficiency in order fulfillment in its sixth facility. In addition to the new Etna, Ohio facility and the Plainfield, Ind. facility, Kohl’s operates e-commerce fulfillment centers in San Bernardino, Calif.; Edgewood, Md.; Monroe, Ohio; and DeSoto, Texas.

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends forward-looking terminology such as “believes,” “expects,” “may,” “will,” “should,” “anticipates,” “plans,” or similar expressions to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause the Company’s actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not limited to, risks described more fully in Item 1A in the Company’s Annual Report on Form 10-K, which are expressly incorporated herein by reference, and other factors as may periodically be described in the Company’s filings with the SEC. Forward-looking statements relate to the date initially made, and Kohl’s undertakes no obligation to update them.

About Kohl’s

Kohl’s (NYSE: KSS) is a leading omnichannel retailer. With more than 1,100 stores in 49 states and the online convenience of Kohls.com and the Kohl’s App, Kohl’s offers amazing national and exclusive brands at incredible savings for families nationwide. Kohl’s is uniquely positioned to deliver against its strategy and its vision to be the most trusted retailer of choice for the active and casual lifestyle.Kohl’s is committed to progress in its diversity and inclusion pledges, and the company’s environmental, social and corporate governance (ESG) stewardship. For a list of store locations or to shop online, visit Kohls.com. For more information about Kohl’s impact in the community or how to join our winning team, visit Corporate.Kohls.com or follow @KohlsNews on Twitter.

Jackie Judkins, [email protected], 262.703.7204

KEYWORDS: Wisconsin United States North America

INDUSTRY KEYWORDS: Supply Chain Management Online Retail Fashion Retail Department Stores

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TOP Ships Inc. Announces Delivery of Suezmax M/T Eco West Coast

ATHENS, Greece, April 06, 2021 (GLOBE NEWSWIRE) — TOP Ships Inc. (the “Company”), an international owner and operator of modern, fuel efficient “ECO” tanker vessels, announced today that it took delivery of the very high specification, scrubber fitted, 157,000 dwt newbuilding Suezmax vessel M/T Eco West Coast constructed at the Hyundai Heavy Industries shipyard in South Korea. The vessel commenced its previously announced time charter employment with a major oil trader for three years with two yearly extensions at the charterer’s option. The revenue backlog expected to be generated by this fixture, assuming all options are exercised, is about $63.3 million. For 2021 alone, this charter is expected to contribute $9.3 million in revenue.

Evangelos Pistiolis, the President and Chief Executive Officer of the Company, said:

“The M/T Eco West Coast, is the first of 5 crude oil vessel carriers of our newbuilding program. One more Suezmax is expected to be delivered during May 2021 and 2 VLCCs and 1 Suezmax are expected to be delivered during the first quarter of 2022. In line with our strategy, all vessels are of very high specification, fitted with scrubbers, constructed at Hyundai Shipyards in South Korea and are contracted to commence profitable time charter employment contracts, mainly to major oil traders, upon their delivery from the shipyard.

The two suezmax vessels delivered in 2021 alone have an expected revenue backlog, assuming all options are exercised, of about $126.6 million and are expected to contribute $17.1 million in 2021 revenue.

As of April 1, 2021, the expected revenue backlog of our fleet for the fixed period of our time charters, stands at about $255 million, including partially owned vessels at their respective percentages. As of the same date, the Company’s projected charter coverage is as follows:

Year    
2021 96%  
2022 80%  
2023 64%  
2024 44%  
2025 12%  
2026 8%  
2027 1% “

About TOP Ships Inc.

TOP Ships Inc. is an international ship-owning company.
For more information about TOP Ships Inc., visit its website: www.topships.org.

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect” “pending” and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.

Contacts:

Alexandros Tsirikos
Chief Financial Officer
TOP Ships Inc.
Tel: +30 210 812 8107
Email: [email protected]