Jewelry maker Tiffany sells London flagship building

Tiffany & Co announced the reconfiguration of his selling spaces. The Company plans to use the proceeds from the sale for general corporate purposes.

Tiffany & Co Press Release:

Tiffany & Co reported that it has sold the building housing its flagship store in London for the price of £73,000,000 (approximately $149,000,000 at the sale date) and simultaneously entered into a 15-year lease with two 10-year renewal options. Tiffany had acquired the building at 25 Old Bond Street and an adjoining building at 15 Albermarle Street in 2002 for a total cost of $43,000,000 (U.S. dollar equivalent at the acquisition date). The acquisition was made in order to combine the buildings, renovate and reconfigure the interior retail selling space; that work was completed in 2006, allowing the Company to complete this sale and leaseback as planned.

This transaction results in a deferred, pretax gain of approximately $73,000,000, which will be amortized in selling, general and administrative expenses over a 15-year period, and is not expected to have a significant effect on future earnings. The Company plans to use the proceeds from the sale for general corporate purposes. Michael J. Kowalski, chairman and chief executive officer, said, "Since opening our flagship store in London in 1986, Tiffany has developed a substantial and highly successful presence in London."

"Combining the Old Bond Street and Albermarle Street properties into a spacious new store has generated sales growth beyond our expectations, and we had always planned to pursue a sale-leaseback transaction following the completion of construction."

"We now operate five stores in London, with a sixth opening next year, and continue to be excited about the growth potential we envision in that very important market."

Source: Tiffany & Co

Jones Apparel to release Q3 financial results on Oct 31

An equipe of Jones Apparel Group Inc will hold a conference on October, 31, 2007 to release financial results.

Jones Apparel Group Inc Press Release:

Jones Apparel Group Inc is scheduled to release third quarter 2007 financial results on Wednesday, October 31, 2007. The Company will host a conference call with management at 8:30 am eastern time.

The conference call will be webcast and made available through the Company's website. The call will also be recorded and made available through November 7, 2007. Jones Apparel Group Inc, a Fortune 500 company, is a leading designer, marketer and wholesaler of branded apparel, footwear and accessories.

The Company also markets directly to consumers through our chain of specialty retail and value-based stores.

Jones Apparel Group Inc

Shopping goes virtual and social - "The Extreme Makeover of Retail» seminary in Montreal

It is retail influenced by the virtual market? Are you buying things on line? Do you still love go shopping or do you prefer better to stay at home and choose your clothes and other objects by looking pictures on the Internet? Does your attitude influence retail? They are some questions that will receive answers at the seminary "The Extreme Makeover of Retail» who will take place in Montreal.

My Virtual ModelInc. Press Release:

My Virtual Model Inc in collaboration
with the MIT Media Lab and the RBC Financial Group Chair of E-commerce are
inviting the representatives of the media to the seminar "The Extreme Makeover
of Retail" that will put in perspective how retail is being influenced by
virtual marketing, personalized advertising based on avatars, product
placement in games and Web applications, the arrival of Web 3.0, as well as
social and virtual shopping.

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To get information about the panellists and the conference subjects go
to: www.mvm.com/MCPC/indexEN.htm


For further information: Fabienne Barbe, Press Officer, My Virtual Model
Inc. (514) 523-9966 Ext 293,fbarbe@mvm.com.

Source: My Virtual Model Inc.