Market Newsdesk

OSI Systems Receives $6 Million Contract for Operation and Maintenance of Security Inspection Systems

HAWTHORNE, Calif.–(BUSINESS WIRE)–
OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) announced today that its Security division received a contract valued at approximately $6 million for operation and maintenance services of critical infrastructure facilities. The Company will be responsible for operating and continuing service of the Rapiscan^® Systems and AS&E^® cargo, vehicle, parcel, and personnel explosive and contraband detection systems.

“We are pleased to receive this award and very proud of our commitment to support this longstanding customer and its security missions,” said OSI Systems’ Chairman and CEO, Deepak Chopra.

About OSI Systems

OSI Systems is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications in the homeland security, healthcare, defense, and aerospace industries. The Company combines more than 40 years of electronics engineering and manufacturing experience with offices and production facilities in more than a dozen countries to implement a strategy of expansion into selective end-product markets. For more information on OSI Systems or its subsidiary companies, visit www.osi-systems.com. News Filter: OSIS-G

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to OSI Systems’ current expectations, beliefs, and projections concerning matters that are not historical facts. Forward-looking statements are not guarantees of future performance and involve uncertainties, risks, assumptions, and contingencies, many of which are outside OSI Systems’ control and which may cause actual results to differ materially from those described in or implied by any forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are based on currently available information and speak only as of the date on which they are made. OSI Systems assumes no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information, or otherwise, except to the extent it is required to do so in connection with its ongoing requirements under Federal securities laws. For a further discussion of factors that could cause OSI Systems’ future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in OSI Systems’ most recently filed Annual Report on Form 10-K and other risks described therein and in documents subsequently filed by OSI Systems from time to time with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210408005303/en/

OSI Systems, Inc.

Ajay Vashishat

Vice President, Business Development

310-349-2237

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Other Manufacturing Technology Homeland Security Security Air Engineering Transport Public Policy/Government Manufacturing Hardware

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Posted on April 8, 2021 8:33 am

Oak Street Health to Enter Alabama and Kentucky

Oak Street Health to Enter Alabama and Kentucky

Value-Based Primary Care Leader Extends Presence to 16th State this Summer

CHICAGO–(BUSINESS WIRE)–Oak Street Health, Inc. (NYSE: OSH, or the “Company”), a network of value-based primary care centers for adults on Medicare, today announced its plans to enter Alabama and Kentucky, bringing its innovative model of care to thousands of new older adults. The Company will open centers in Birmingham and Mobile, and Louisville, respectively, this summer and fall, increasing the number of states with Oak Street Health centers to 16.

The expansion follows Oak Street Health’s first center openings in Louisiana and South Carolina in March and the previously announced entry into Georgia this summer. Oak Street Health has already opened 7 new centers this year, and anticipates opening 38-42 new centers in total by the end of 2021.

“The innovative care that Oak Street Health provides older adults will remain as critical after the pandemic as it was before,” said Mike Pykosz, Chief Executive Officer of Oak Street Health. “COVID-19 has certainly amplified the need for higher-quality preventive care, and we will continue working to ensure that it is available and accessible to seniors across the country. Our national expansion is a testament to our entire team who is deeply committed to our mission of rebuilding healthcare as it should be and positively impacting communities all across the country by improving health outcomes.”

Oak Street Health patients can expect an unmatched healthcare experience that includes quality time with their provider in-person or via telehealth visits; a 24/7 patient support line; individualized, preventive care plans; and access to transportation to and from the center for eligible patients. Additional services, such as behavioral health care and social health support and Medicare education classes, are also offered to help older adults meet their unique needs in one convenient location.

Since its founding in 2012, Oak Street Health has driven an approximately 51% reduction in patient hospital admissions compared to Medicare benchmarks, a 42% reduction in 30-day readmission rates and a 51% reduction in emergency department visits, all while maintaining a Net Promoter Score of 90 across patients. Oak Street Health will accept multiple health plans at all locations, including traditional Medicare.

To learn more about Oak Street Health’s value-based primary care model, click here.

Source: Oak Street Health

About Oak Street Health

Founded in 2012, Oak Street Health is a network of value-based primary care centers for adults on Medicare. With a mission of rebuilding healthcare as it should be, the Company operates an innovative healthcare model focused on quality of care over volume of services, and assumes the full financial risk of its patients. Oak Street Health currently operates more than 80 centers across 13 states. To learn more about Oak Street Health’s proven approach to care, visit oakstreethealth.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210408005247/en/

Media Contact:

Erica Frank

Vice President of Public Relations

(330) 990-5026

[email protected]

Investors Contact:

Constantine Davides

(339) 970-2846

[email protected]

KEYWORDS: Alabama Illinois Kentucky United States North America

INDUSTRY KEYWORDS: Professional Services Health Hospitals Insurance Practice Management General Health

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Wells Fargo Announces Major Solar Expansion in North Carolina

Duke Energy, NextEra Energy Resources lead development of 600-acre solar farm to supply approximately 50% of bank’s electricity needs for North Carolina

CHARLOTTE, N.C.–(BUSINESS WIRE)–
Wells Fargo, NextEra Energy Resources, and Duke Energy today announced a 20-year renewable energy purchase agreement, under which Wells Fargo will consume 100% of solar energy produced by the Blackburn Solar Project, a 58-megawatt 600-acre solar farm planned for Catawba County, North Carolina, under Duke Energy’s Green Source Advantage (GSA) program. The transaction announced today is Wells Fargo’s single largest to date and will supply approximately 8% of the company’s annual global electricity.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210408005207/en/

Energy provided under the agreement will allow Wells Fargo to meet more than 50% of total electricity needs and 100% of its eligible load within the Duke Energy Carolinas service area, where it maintains a real-estate footprint of 7.5 million square feet and employs about 36,000. The 130,000 megawatt-hours Wells Fargo will receive each year will be generated by about 200,000 solar panels. The facility will be developed, owned, and operated by a subsidiary of Florida-based NextEra Energy Resources, and is scheduled to come online in 2022. Wells Fargo will also retain the Renewable Energy Credits (RECs) associated with the project.

“The development of renewable energy projects close to employee and customer centers is one way Wells Fargo is working to meet our net-zero greenhouse gas emissions goal in a way that also contributes to the communities where we live and work. Investing in solar energy development in North Carolina will support job creation, tax revenue, reduced carbon emissions, and grid resiliency,” said Nate Hurst, head of Social Impact and Sustainability at Wells Fargo. “We appreciate the collaboration with Duke and NextEra to advance our enterprise sustainability goals in a way that benefits the local economy.”

“As large energy users look to expand their sustainability goals, many are finding Duke Energy’s Green Source Advantage program the perfect fit to make that happen,” said Stephen De May, Duke Energy’s North Carolina president. “The program’s flexibility allows the customer to modify it to best suit their needs. The state benefits by more renewable energy.”

Developer NextEra Energy Resources is working with community leaders and organizations to ensure the project meets local solar development requirements, as well as Wells Fargo’s needs. As part of the development, NextEra Energy Resources is negotiating a land grant with the Catawba Lands Conservancy to conserve lands along the Catawba River and expand a portion of the Carolina Thread Trail. According to the project website, community economic benefits include approximately $2.3 million in additional tax revenue for the local community as well as local employment opportunities, including up to 100 jobs to construct the project.

“We’re excited to work with Duke and Wells Fargo to provide more affordable, renewable energy through the Green Source Advantage program,” said Matt Handel, senior vice president of development for NextEra Energy Resources. ”The Blackburn Solar project will also provide significant benefits to the economy, creating good-paying construction jobs and generating millions of dollars in additional tax revenue for the local community.”

Wells Fargo has met 100% of its annual global electricity requirements with renewable energy since 2017, primarily through the purchase of RECs, which satisfied the first part of a two-pronged 2020 renewable energy goal set in 2016. The company is now working to fulfill the second part of that commitment — to transition to a higher mix of long-term renewable energy contracts for projects near its greatest load centers and significantly expand onsite solar generation in order to support the development of net-new sources of renewable energy and deliver community benefits associated with renewable energy development. In March, Wells Fargo announced its goal to achieve net-zero greenhouse gas emissions by 2050, including its financed emissions.

“Leveraging our annual energy spend to advance green infrastructure development in the U.S. and create new revenue streams for communities is one way we are helping contribute to more sustainable, equitable, and resilient communities,” said Richard Henderson, head of Wells Fargo’s Corporate Properties Group. “We will continue to look for opportunities to advance environmental and social sustainability through our operations as Wells Fargo drives toward its ambitious climate goals.”

Earlier this year, Wells Fargo announced a deal with Ameresco, Inc. to install approximately 30 megawatts of new, on-site solar generation assets at about 100 corporate and retail locations in seven states. As part of that agreement, Ameresco will install 2.6 megawatts of solar generation at two administrative buildings in North Carolina. To date, Wells Fargo’s Corporate Properties Group has entered into nearly 120 long-term contracts that support the development of over 750 megawatts of net-new renewable energy assets.

Aside from being one of the largest corporate users of renewable energy, Wells Fargo is a leader in financing large-scale wind, solar, and other renewable energy projects on behalf of its customers. The company recently reached the milestone of providing $10 billion in tax equity financing for utility-scale renewable energy projects. Since 2005, Wells Fargo has helped finance 12% of all wind and solar energy capacity in the U.S.

About Wells Fargo

Wells Fargo & Company is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. Wells Fargo ranked No. 30 on Fortune’s 2020 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo.

News Release Category: WF-PESG

View source version on businesswire.com: https://www.businesswire.com/news/home/20210408005207/en/

Wells Fargo Media

E.J. Bernacki

[email protected]

+1 415-823-3523

KEYWORDS: United States North America North Carolina

INDUSTRY KEYWORDS: Professional Services Other Energy Utilities Alternative Energy Energy Banking

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Wells Fargo/Duke Energy/NextEra Energy Resources project in Catawba County will deliver environmental, social and economic benefits (Graphic: Wells Fargo)

BevCanna Scaling Up Beverage Manufacturing Operations and Launches TRACE E-Commerce Website

Cannabis and CPG verticals quickly gaining momentum, capitalizing on growing demand for white-label cannabis and CPG natural products

VANCOUVER, British Columbia–(BUSINESS WIRE)–
Emerging leader in innovative health and wellness beverages and products, BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) (“BevCanna” or the “Company”) today is providing an update on the commercial readiness of its Canadian cannabis and international consumer packaged goods (CPG) business verticals.

BevCanna Canada: Canadian Cannabis Vertical

Since the Company’s recently announced Sales License partnership on March 15, 2021, it has been scaling up its commercial manufacturing facility to begin immediate production of the Keef line of beverages and the lines of its two recently announced white-label clients, Brujera Elixirs Inc. and Enthusiasmus Inc.

The Company has also been in active in-depth product listing discussions with provincial distributors across Canada, to launch the Keef Brand of products as well as State B Beverages and Chapeau Noir.

Throughout April and May, the Company is expected to finalize provincial listing discussions and enter full-scale production on the path towards having beverages available across core provinces in time for the peak beverage consumption months. Once listing agreements have been completed and purchase orders received, BevCanna will focus on commencing commercial production against those demand forecasts. Product delivery to provincial warehouses and dispensaries, and the subsequent sale to retail customers will commence shortly thereafter.

BevCanna is also in the process of evaluating a number of prospective white-label partners to meet the rising demand from both domestic and international partners seeking to access the Canadian cannabis market through BevCanna’s turn-key manufacturing capabilities. “We view the growing market interest as a validation of our white-label business model” states Melise Panetta, President of BevCanna. “At this time, our funnel of prospective clients is abundant, and we are in active conversations with groups from the initial scoping stage all the way to final contract negotiations”.

Naturo Group: Consumer Packaged Goods Vertical

The Company’s wholly-owned subsidiary, Naturo Group, is excited to announce the launch of its new TRACE e-commerce website. Customers will now be able to purchase a range of products directly through the site, as well as sign up for membership rewards and recurring product orders. TRACE’s e-commerce website will serve as a catalyst to deepen brand awareness, increase direct to consumer engagement, and maximize customer lifetime value.

Additionally, since its transformative acquisition by BevCanna, Naturo Group has focused on redesigning its marketing strategy around the domestic and international distribution of Naturo Group’s market-leading TRACE brand. The addition of two CPG industry veterans, Raffael Kapusty and Bill Niarchos, have now accelerated TRACE’s business development program with national retail partners, and leading distributor and broker networks. Throughout April and May, Naturo Group will focus on deepening its existing distribution with coordinated marketing campaigns with a number of the largest national retailers, and onboarding new national distributors to further expand TRACE’s distribution into traditional grocery and natural health retailers.

“Our Canadian cannabis and non-cannabis CPG verticals are quickly gaining momentum and we are in a position to quickly capitalize on the market growth of cannabis & wellness products as well as the intensifying demand for white-label manufacturing,” said Melise Panetta, President of BevCanna. “In addition to the local efforts gaining momentum, we’re receiving significant interest from international markets, especially for our TRACE wellness products, as the growing Health & Wellness trend is a global one. We expect to be able to share more news on International Market progress in coming weeks.”

About BevCanna Enterprises Inc.

BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) is a diversified health & wellness beverage and natural products company. BevCanna develops and manufactures a range of plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients.

With decades of experience creating, manufacturing and distributing iconic brands that resonate with consumers on a global scale, the team demonstrates an expertise unmatched in the nutraceutical and cannabis-infused beverage categories. Based in British Columbia, Canada, BevCanna owns a pristine alkaline spring water aquifer and a world–class 40,000–square–foot, HACCP certified manufacturing facility, with a bottling capacity of up to 210M bottles annually. BevCanna’s extensive distribution network includes more than 3,000 points of retail distribution through its market-leading TRACE brand, its Pure Therapy natural health and wellness e-commerce platform, its fully licensed Canadian cannabis manufacturing and distribution network, and a partnership with #1 U.S. cannabis beverage company Keef Brands.

On behalf of the Board of Directors:

John Campbell, Chief Financial Officer and Chief Strategy Officer

Director, BevCanna Enterprises Inc.

Disclaimer for Forward-Looking Information

This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include statements regarding: the Company’s cannabis and CPG verticals are quickly gaining momentum, capitalizing on growing demand for white-label cannabis and CPG natural products; that it has been scaling up its commercial manufacturing facility to begin immediate production of the Keef line of beverages and the lines of its two recently announced white-label clients; the Company has also been in active in-depth product listing discussions with provincial distributors across Canada, to launch the Keef Brand of products as well as State B Beverages and Chapeau Noir; that throughout April and May, the Company is expected to finalize provincial listing discussions and enter full-scale production on the path towards having beverages available across core provinces in time for the peak beverage consumption months; that once listing agreements have been completed and purchase orders received, BevCanna will focus on commencing commercial production against those demand forecasts; that product delivery to provincial warehouses and dispensaries, and the subsequent sale to retail customers will commence shortly thereafter; that BevCanna is also in the process of evaluating a number of prospective white-label partners to meet the rising demand from both domestic and international partners seeking to access the Canadian cannabis market through BevCanna’s turn-key manufacturing capabilities; that TRACE’s e-commerce website will serve as a catalyst to deepen brand awareness, increase direct to consumer engagement, and maximize customer lifetime value; that throughout April and May, Naturo Group will focus on deepening its existing distribution with coordinated marketing campaigns with a number of the largest national retailers, and onboarding new national distributors to further expand TRACE’s distribution into traditional grocery and natural health retailers; the market growth of cannabis & wellness products as well as the intensifying demand for white-label manufacturing; that the Company expects to be able to share more news on International Market progress in coming weeks; and other statements regarding the business plans of the Company. The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements.

Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include, among other things: general market conditions; changes to consumer preferences; volatility of commodity prices; future legislative, tax and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the inability to implement business strategies; competition; currency and interest rate fluctuations; inability to successfully negotiate and enter into commercial arrangements with other parties; and other factors beyond the control of the Company and its commercial partners. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210408005131/en/

For media enquiries or interviews, please contact:

Wynn Theriault, Thirty Dash Communications Inc.

416-710-3370

[email protected]

For investor enquiries, please contact:

Bryce Allen, BevCanna Enterprises Inc.

778-766-3744

[email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Alternative Medicine Online Retail Retail Health Specialty Food/Beverage

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Community Healthcare System Partners with Premier, Inc. to Drive Operational Innovation and High-Quality Patient Care

Premier supply chain services and performance improvement technology aims to create further system-wide efficiencies, savings opportunities and scalability

CHARLOTTE, N.C.–(BUSINESS WIRE)–
Community Healthcare System, recognized for high-quality care across Northwest Indiana, has partnered with Premier Inc. (NASDAQ: PINC), a leading healthcare improvement company. Through this new partnership agreement, Community Healthcare System will have access to Premier’s supply chain services, including its group purchasing organization (GPO) and PremierConnect^® performance improvement technology. The goal is to streamline and enhance operational, quality improvement and cost savings opportunities across the system.

Community Healthcare System also will implement Premier’s service line analytics technology, which provides insights on pharmaceutical spend and clinical trends to reduce high-cost drug utilization and improve outcomes.

“We are dedicated to improving the quality of life and health of our patients and communities across Northwest Indiana,” said Mary Ann Shacklett, Senior Vice President-Finance, Community Foundation of Northwest Indiana, Inc. (parent company to Community Healthcare System). “We appreciate that Premier is aligned with that commitment and will not only enhance our overall efficiency, but also will prime Community Healthcare System for continued growth and innovation. We believe that Premier’s extensive span of contracts, innovative technology suite and partnership approach positions us for long-term success.”

As a new member of Premier, Community Healthcare System joins a powerful alliance of health systems and will receive access to industry-leading solutions and a dedicated team of subject-matter experts with the proven ability to achieve results. By integrating Community Healthcare System’s supply, pharmacy and service line spend with clinical utilization trends and outcomes, Premier will pinpoint improvement opportunities that will allow the health system to achieve the largest return on investment while maintaining optimal patient outcomes.

“Today’s healthcare landscape demands that providers adopt a holistic, data-driven and clinically integrated approach to operations management,” said Michael J. Alkire, President and incoming CEO at Premier. “The power of Premier data coupled with a technology-enabled supply chain drives enterprise-wide cost and quality improvements, affording our provider partners more time to focus on care. We welcome Community Healthcare System to our growing membership and look forward to working with them to drive excellence across their enterprise.”

The financial impact of the agreement was not disclosed.

Forward-Looking Statements

Matters discussed in this release that are not statements of historical or current facts, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Premier to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that include terms such as “believes,” “belief,” “expects,” “estimates,” “intends,” “anticipates” or “plans” to be uncertain and forward-looking. Forward-looking statements may include comments as to Premier’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside Premier’s control. More information on potential factors that could affect Premier’s financial results is included from time to time in the “Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Premier’s periodic and current filings with the SEC and available on Premier’s website at investors.premierinc.com. Forward-looking statements speak only as of the date they are made. Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date.

About Community Healthcare System

Community Healthcare System is comprised of not-for-profit hospitals: Community Hospital in Munster; St. Catherine Hospital in East Chicago; St. Mary Medical Center in Hobart; specialty hospital Community Stroke & Rehabilitation Center in Crown Point and Hartsfield Village, a Continuing Care Retirement Community in Munster. The Northwest Indiana healthcare system’s vast network of care locations includes outpatient, surgical and rehabilitation centers, physician practices, behavioral health, occupational health, home care, a medically-based fitness center, cancer research foundation and cancer support center. Community Healthcare System hospitals are regional leaders in cancer treatment, cardiac care, bariatric medicine and orthopedics.

About Premier, Inc.

Premier, Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of more than 4,100 U.S. hospitals and health systems and approximately 200,000 other providers and organizations to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and consulting and other services, Premier enables better care and outcomes at a lower cost. Premier plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare. Please visit Premier’s news and investor sites on www.premierinc.com; as well as Twitter, Facebook, LinkedIn, YouTube, Instagram and Premier’s blog for more information about the company.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210408005125/en/

Amanda Forster

[email protected]

KEYWORDS: United States North America North Carolina

INDUSTRY KEYWORDS: Technology Hospitals Consulting Professional Services Software Practice Management Health Pharmaceutical Data Management

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RealPage and J Turner Research Reveals Measurable Impact of Online Reputation on Apartment Property Performance

April 14 Webcast to Present Results and Tips on How to Improve Property Online Reputation

RICHARDSON, Texas–(BUSINESS WIRE)–RealPage, Inc. (NASDAQ: RP), a leading global provider of software and data analytics to the real estate industry, in conjunction with J Turner Research, an online reputation management firm exclusively serving the multifamily industry, announced the results of a nearly three-year, first-of-its-kind study that reveals the measurable impact of online reputation on multifamily rental property outperformance.

According to the report, on average, properties witnessed a 3-basis-points (BPS) premium to market returns for each point a community improved its Online Reputation Assessment (ORA™) score, a metric to measure and benchmark the online reputation of multifamily properties. The ORA™ statistical model by J Turner Research, designed for property management companies, aggregates and analyzes online ratings and reviews of over 120,000 properties in the U.S. across 20+ review sites and internet listing services (ILS), with more than 10 million reviews.

The study reviewed historical financial and operational metrics from RealPage combined with 34 months of ORA™ data of nearly 6,000 properties across class A, B and C assets in every decade since the 1900s, spanning affordable and conventional apartments of all sizes from fewer than 100 units to over 4,000 units in the U.S. market. Researchers identified a correlation between key variables such as raw ORA™ scores, change in ORA™ score and revenue.

“We’re excited to announce the results of the study that demonstrates and validates the relationship between changes in online reputation and revenue performance over the market,” said Rich Hughes, SVP Data Science at RealPage. “In an environment of limited rent increases and shifting prospect expectations, paired with the need to continue to drive yield and NOI, reputation is now a proven lever to impact asset performance.”

In addition to observing an average 3 BPS premium to market returns for every point a community improves its ORA™ score, researchers observed decreased property performance with an adverse change in online reputation. The level of impact that online reputation can have on value creation varies by market and property type, but the study confirms that the role of online reputation is consistently a factor through a positive correlation between ORA™ Scores and Property Performance compared to the market.

This study also specifically analyzed the relationship between ORA™ and resident renewals by drilling down into four regional markets: Dallas, Phoenix, Atlanta, and Seattle. All four markets show that high ORA™ scores tend to enjoy higher renewal rates, while low ORA™ scores can struggle with renewals.

“This validates the need for a reputation strategy to stay ahead,” said Jay Parsons, Deputy Chief Economist and Vice President of Asset Optimization at RealPage. “Properties with lower ORA™ scores should build a strategy around raising their scores to increase property performance and value, while properties with existing higher ORA™ scores should focus on maintaining their scores to protect property performance and value gains.”

This announcement follows the announcement made last Fall by RealPage regarding the integration of ORA™ Scores into RealPage’s Performance Analytics Benchmarking and AI Revenue Management solutions.

RealPage will host a live webcast on April 14, 2021 at 3:30 p.m. ET to present the study and offer strategies to help property owners improve online reputation scores and drive more yield. Register for the webcast to hear the story and access the report here: https://www.realpage.com/webcasts/connecting-reputation-with-revenue/.

About RealPage

RealPage provides a technology platform that enables real estate owners and managers to change how people experience and use rental space. Clients use the platform to gain transparency into asset performance, leverage data insights and monetize space to create incremental yields. Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves over 19 million units worldwide from offices in North America, Europe and Asia. For more information about RealPage, please visit https://www.RealPage.com.

About J Turner Research

J Turner Research is the leading full-circle online reputation management firm exclusively serving the multifamily industry since 2012. Using its unique, 360-degree process encompassing surveys and a reputation management platform, clients are able to enhance resident satisfaction, increase closing ratios and improve their online reputation. J Turner is the pioneer of the Online Reputation Assessment (ORA™) score, which serves as the industry standard for measuring a property’s online reputation. The company analyzes the online reputation of over 122,000 properties across the U.S. For more information, please visit https://www.jturnerresearch.com/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210408005132/en/

Steve Calk

[email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Data Management Technology Residential Building & Real Estate Software Construction & Property REIT

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Kohl’s Sends Letter to Shareholders Featuring a Q&A with CEO Michelle Gass and CFO Jill Timm

• Kohl’s remains open to new ideas that could enhance shareholder value
• Kohl’s CEO and CFO outline the Company’s significant transformation and path to accelerated growth and profitability
• Kohl’s urges shareholders to Vote FOR ALL 12 of the Company’s highly qualified Directors on the BLUE Proxy Card today
• For more information, investors can visit www.KohlsMomentum.com

MENOMONEE FALLS, Wis.–(BUSINESS WIRE)–
Kohl’s Corporation (NYSE:KSS) (“Kohl’s” or the “Company”) today mailed a letter urging shareholders to protect the value of their investment by voting the BLUE proxy card today FOR ALL 12 of Kohl’s highly qualified nominees by signing, dating and returning the BLUE proxy card. The letter features the transcript of a question-and-answer session with Kohl’s CEO Michelle Gass and CFO Jill Timm.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210408005507/en/

The Company’s Annual Meeting of Shareholders (the “Annual Meeting”) is scheduled to be held on May 12, 2021. Kohl’s shareholders of record as of the close of business on March 24, 2021 will be entitled to vote at the Annual Meeting.

The full text of the Q&A appears below:

A CANDID CONVERSATION WITH MICHELLE GASS AND JILL TIMM

1. How has the retail industry in which you operate evolved over time?

Michelle: The retail industry has undergone profound changes. In the past decade, consumers have embraced online buying – digital apparel sales have grown from less than 10% of total U.S. apparel sales in 2010 to over 26% in 2019 and that trendline continues. Increasing online sales have driven costs higher, significantly impacting profit margins for the entire industry. Amidst this disruption, retailers have faced unprecedented pressure and headwinds, leading to more than 65,000 retail store closings since 2010 and a growing list of retail bankruptcies.

During this time of incredible disruption, we have remained focused on meeting the needs of our customers and driving the continued transformation of our business. Over the last ten years, we have made significant investments in stores, digital, technology, supply chain and marketing capabilities. We have rolled out new omnichannel experiences, including Buy Online, Pickup In Store, Buy Online Ship to Store and Amazon Returns. Additionally, we began a significant transformation of our category and brand portfolio with specific focus on high-growth areas such as Active, and we have attracted new relevant brands like Under Armour. We have also implemented innovative actions to drive traffic and customer acquisition, allowing us to successfully grow our customer base to a record 65 million in 2019.

2. What is your plan to increase value for shareholders?

Michelle: Our new strategy, announced in October 2020, is designed to accelerate growth and profitability and is centered on our vision to be the most trusted retailer of choice for the active and casual lifestyle. This new strategic framework, which we have been developing with our Board’s support, builds on progress Kohl’s has made in strengthening our foundation and capabilities over the past several years. The strategy includes an operating margin goal of 7% to 8%, which we expect to achieve by improving gross margins and driving SG&A expense efficiency.

Core to this strategy is expanding high-growth categories such as Active and Outdoor, reigniting growth in Women’s, building a leading beauty business, and driving category productivity and inventory turn.

As part of our new strategy, we announced in December a game-changing partnership with Sephora. Sephora will become Kohl’s exclusive beauty partner with at least 850 Sephora at Kohl’s locations by 2023, beginning with 200 locations and a digital launch in 2021. We expect this partnership to drive substantial incremental customer traffic, attract new, younger customers and boost sales across other categories.

In the coming months and years, you will see a whole new Kohl’s, especially as our Sephora partnership rolls out.

3. You have talked publicly about your momentum. Could you tell us more about this, and why are you confident that you will achieve your objectives?

Michelle: We have clear momentum and are highly confident that we will achieve our objectives given the traction we are already seeing. We reported strong third quarter and fourth quarter earnings that exceeded expectations amidst an ongoing global pandemic. Investors are taking notice: Kohl’s stock price has appreciated more than 200% since we announced our new strategy in October, outperforming the S&P 500 by more than 190%¹.

Jill: The appreciation in our stock price reflects substantial improvements to our operations. We are expanding gross margin through an end-to-end supply chain transformation, price and promotion optimization, sourcing cost reductions and disciplined inventory management. For example, we achieved five- and ten-year inventory turn highs in the past two quarters.

We have also acted aggressively to reduce SG&A expenses. From 2017 to 2019, our cost savings initiatives exceeded $250 million, allowing us to mitigate cost pressures and reinvest for the future. In 2020, our restructuring efforts generated expense savings of more than $100 million on an annualized basis. Looking ahead, we are focused on lowering our SG&A expenses by further improving efficiency across store labor, marketing and technology, and we are already seeing strong progress. SG&A expense in the second half of 2020 declined 8%, including a 19% reduction in marketing spend.

Based on the strength of our performance, our Board recently announced the reinstatement of the Company’s quarterly dividend and our share repurchase program, both of which had been temporarily suspended at the outset of the COVID-19 pandemic.

4. How is your new strategy different from past efforts to grow the business?

Michelle: Our new strategy reflects a fundamental evolution of our business. While we are building on the investments we’ve made over the last few years, we are taking the business in a new direction and to new levels. We are tapping into high-growth consumer trends, like the active lifestyle, and making these a much bigger part of our future. Active, for example, will grow to more than 30 percent of our business in the coming years.

We are currently driving the biggest transformation of our brand portfolio in our history, exiting over 25 brands, to offer a more tightly curated assortment of private and national brands. We are also leveraging the ongoing industry disruption and our strong omnichannel platform to attract iconic new national brands like Cole Haan and Calvin Klein, with more to come.

Our biggest differentiator is our new partnership with Sephora, which will be a significant unlock in driving traffic and attracting millions of new customers to Kohl’s. We are also taking the opportunity to refresh and reflow our stores with much greater clarity, creating more inviting shopping experiences and offering an entirely new level of excitement and discovery for our customers.

Jill: We have never been more focused or well positioned to drive significant margin enhancement as we are now. The investments we have made in technology and supply chain give us great confidence that we will achieve our 7 – 8% operating margin goal.

5. What role has your Board played in your transformation?

Michelle: Our Board has been actively involved in overseeing our transformation and has made sure we have the resources and support to implement our strategy. We have a highly experienced and diverse Board, and their collective retail, digital and operational expertise has been a critical resource for me and my executive team.

Our Board has overseen significant, targeted investments to strengthen our competitive positioning. They have provided guidance that has enabled us to make significant shifts in our brand portfolio and forge new innovative partnerships such as Sephora.

Importantly, they have refreshed their own ranks by bringing on new talented leaders with proven track records in e-commerce, retail and consumer brands. At the same time, our Board has made a point to ensure a balanced mix of director tenures so we have institutional knowledge as well as fresh perspectives.

Every step of the way, our Board has been deeply engaged. Their unique perspectives and oversight have been an essential driver of our momentum, and I expect they will continue to act as agents of change for shareholders going forward.

6. What are you excited about for the rest of 2021 and beyond?

Michelle: I am excited to see our vision and strategy continue to come to life. We are creating a whole new Kohl’s, inside and out, and we expect this to draw new customers, allow us to win market share and accelerate growth.

Jill: The pandemic has created significant challenges for our entire industry, but we have used the opportunity to make fundamental changes that unlock greater efficiency and productivity. I am excited to see the benefits of these changes come to fruition and drive improved profitability. Given the momentum in our business so far this year, I’m also excited to continue executing on our strategy and deliver on our financial goals.

7. What do you think of the Activist Investors’ suggestions for Kohl’s?

Michelle: We are committed to engaging with our shareholders and we are open to all ideas to enhance value. We have spoken with the Activist Investors extensively, in more than a dozen conversations with members of our Board and management. The Activists have not presented any new value-enhancing ideas. Many of the ideas they have raised were well underway at Kohl’s for some time or were otherwise addressed in our October strategy announcement.

Jill: The only proposal the Activists have offered that we are not currently pursuing is a form of short-term financial engineering – a sale-leaseback transaction. This would be an inefficient means to access capital for Kohl’s given current market conditions, and as a result would destroy shareholder value. A sale-leaseback transaction would add operating risk (e.g., by increasing rent expense and leverage) and would likely negatively impact our investment-grade rating.

8. The Activists claim that Kohl’s has underperformed the industry. What is your response to this?

Jill: The Activists are wrong on this point and their statements demonstrate a lack of understanding of the retail industry in which we compete. Kohl’s share price has outperformed, for example, our department store peers over a 1-, 3-, 5- and 10-year timeframe, even excluding the peer retailers that have filed for bankruptcy.

In 2020 our share price meaningfully outperformed our direct peers as well as the broader market. Since our new strategy was unveiled in October, our share price has grown more than 200%, outperforming the S&P 500 by more than 190%² – a clear reflection of our differentiated and strong momentum.

Our plan is clearly working, and we believe we are on the right path to maximize value for all our shareholders.

9. Why is your current Board superior to the Activist Investors’ slate?

Michelle: We have a very strong Board of Directors that brings highly relevant experience and capabilities to help us execute on our strategy. In comparison to the Activists’ nominees, our Board includes more current and former CEOs, superior retail industry experience, more technology and digital experience and more operations management capabilities. Meanwhile, their slate does not include a comparable depth and quality of experience and expertise and only one of their nominees brings any meaningful digital experience, an area now representing 40% of our business.

Our Board has acted decisively to help me and my management team put Kohl’s on an accelerated growth trajectory. They have provided invaluable oversight and counsel, and I am excited to continue working with them to create value for shareholders.

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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,” “strategy,” “preliminary,” “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, our ability to execute on and realize the benefits of our strategic plan, market conditions beyond our control, including the ongoing and evolving impact of the COVID-19 pandemic, that may negatively impact our stock price vis-à-vis industry analyst expectations and the risks described more fully in Item 1A in the Company’s Annual Report on Form 10-K, which is 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.

¹ Bloomberg; as of April 6, 2021

² Bloomberg; as of April 6, 2021

View source version on businesswire.com: https://www.businesswire.com/news/home/20210408005507/en/

Investor Relations: Mark Rupe, (262) 703-1266, [email protected]

Media: Jen Johnson, (262) 703-5241, [email protected]

Lex Suvanto, (646) 775-8337, [email protected]

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INDUSTRY KEYWORDS: Home Goods Other Retail Family Consumer Fashion Cosmetics Retail Department Stores

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