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Men's Wearhouse Reports Fiscal 2013 Results

- Fiscal 2013 GAAP diluted earnings per share were $1.70 and adjusted diluted earnings per share were $2.21

FREMONT, Calif., March 11, 2014 /PRNewswire/ -- The Men's Wearhouse (NYSE: MW) today announced consolidated financial results for the fiscal year ended February 1, 2014. 

Fiscal year 2013 had 52 weeks compared with 53 weeks in fiscal year 2012.  Consequently, results for the fourth quarter and fiscal year 2013 were negatively impacted by the additional week in 2012.  Comparable sales for the fourth quarter and fiscal year 2013 do not include an additional week in fiscal year 2012.

Total net sales for fiscal year 2013 decreased 0.6% to $2.5 billion, and total Men's Wearhouse brand revenues were up 1.6% over fiscal 2012 and up 3% on a 52 week fiscal comparison.  GAAP diluted EPS for fiscal year 2013 was $1.70 and adjusted EPS was $2.21 excluding one-time costs(1)

Total net sales for the fiscal 2013 13-week fourth quarter decreased 7.9% to $560.6 million from $608.4 million in last year's 14-week fourth quarter.  GAAP loss per share was $0.64 for the fourth quarter of 2013.  Adjusted loss per share was $0.38 excluding one-time costs(2)

Doug Ewert, Men's Wearhouse president and chief executive officer, commented, "We were not immune to the effects of weak consumer spending sentiments and severe weather disruption that impacted most retailers in December and January.  Tuxedo and corporate apparel sales were in-line with internal expectations, while clothing sales in all three retail chains were lower than expected.  Weather-related store closures and an aggressive promotional retail environment resulted in a traffic decline. We estimate that approximately one-quarter of the 2.5% comparable sales decrease in the fourth quarter at Men's Wearhouse was due to these closures."

Ewert added, "We executed an aggressive advertising and promotional plan, and made adjustments as the challenging retail environment unfolded during the quarter.  We proactively increased our promotional activity, including incremental advertising spending, and reduced our expenses accordingly. Subsequently, we have seen business improve significantly in February, as both Men's Wearhouse and Moores finished the month with approximately 3% and 9% comparable sales increases respectively, overcoming additional weather-related store closures.  Looking forward, we are excited about the rollout of our 'Made-in-America' Joseph Abboud® product into the Men's Wearhouse stores.  This product should be in all stores by the summer of 2014 and will be supported by brand advertising, which commenced in select markets on March 10th.

"We look forward to completing the combination of Men's Wearhouse and Jos. A. Bank, which we also announced today, and to achieving the benefits of the combination for our shareholders," concluded Ewert.

(1)

Adjusted net earnings exclude $41.1 million ($27.3 million after tax or $0.56 per diluted share) in costs related to the JA Holding, Inc. acquisition and integration, costs related to various strategic projects, separation costs associated with former executives, non-cash impairment of K&G goodwill, K&G ecommerce closure costs and a New York store related closure costs. Also excluded is a $2.2 million ($1.5 million after tax or $0.03 per diluted share) gain from the sale of an office building in Fremont, CA. Adjusted diluted earnings per share may not sum due to rounded numbers.



(2)

Adjusted net earnings exclude $19.0 million ($12.6 million after tax or $0.27 per diluted share) in costs related to the JA Holding, Inc. acquisition and integration, costs related to various strategic projects, separation costs associated with former executives, K&G ecommerce closure costs and certain asset impairment charges. Adjusted diluted earnings per share may not sum due to rounded numbers.

FOURTH QUARTER CONSOLIDATED RESULTS REVIEW
Please refer to the Consolidated Statements of Earnings table below that compare the results of the 2013 13-week fiscal quarter to the 2012 14-week fiscal quarter.  The following provides the comparable 13-week results for both fiscal fourth quarters.

Total net sales for the fiscal 2013 13-week fourth quarter decreased 2.6% or $14.8 million to $560.6 million from an adjusted $575.3 million.  Retail segment sales for the quarter decreased by 3.3% or $17.1 million and corporate apparel sales increased by 3.9% or $2.4 million as compared to the adjusted prior year quarter.

The consolidated total gross margin was down $17.6 million or 7.8% to the adjusted prior year quarter.  The total gross margin rate decreased 210 basis points primarily due to higher markdowns, deleveraging of occupancy costs and an expected decrease in tuxedo margin due to lower rental revenue and higher per unit rental costs.  The retail segment total gross margin was down 8.8% and the corporate apparel gross margin increased 4.3%.

Adjusted SG&A expenses of $239.6 million increased by $3.8 million from the adjusted prior year or 1.6% primarily due to an increase in advertising expense.  Adjusted SG&A expenses exclude $19.0 million in costs related to the JA Holding, Inc. acquisition and integration, costs related to various strategic projects, separation costs associated with former executives, K&G ecommerce closure costs and certain asset impairment charges. 

Adjusted net loss for the fiscal 2013 fourth quarter was $17.9 million, or $0.38 adjusted diluted loss per share compared to net loss of $4.9 million, or $0.10 diluted loss per share last year excluding the impact of the 53rd week.

FOURTH QUARTER AND FISCAL YEAR SALES REVIEW
The table that follows is a summary of net sales for fiscal 2013 fourth quarter and full year.  The dollars shown are U.S. dollars in millions and due to rounded numbers may not sum.  The Moores comparable sales change is based on the Canadian dollar.  Comparable sales exclude the net sales of a store for any month of one period if the store was not open throughout the same month of the prior period and include e-commerce net sales, beginning in fiscal 2013. 

Because fiscal 2012 was a 53-week year, comparable sales for the current year are shown on a trailing 52-week basis, comparing the most relevant time periods, as well as on a fiscal period basis.  The current quarter fiscal period basis is lower than the trailing basis comparison primarily due to the calendar shift of the 53rd week.  

Fourth Quarter Net Sales Summary – Fiscal 2013



Net Sales

Comparable Sales Change


Net Sales Change

Current Quarter

Current Quarter

Trailing

Current Quarter Fiscal

Prior Year Quarter Fiscal

Total Retail Segment

(8.5%)

($46.2)

$497.3




       Men's Wearhouse

(6.1%)

($22.6)

$350.2

(2.5%)

(3.0%)

1.0%

       Moores

(13.6%)

($9.2)

$58.6

(2.3%)

(3.4%)

(5.5%)

       K&G

(15.0%)

($14.3)

$81.2

(7.7%)

(8.6%)

(5.7%)

       MW Cleaners

(0.5%)

($0.0)

$7.3











Corporate Apparel Segment

(2.7%)

($1.7)

$63.3











Total Company

(7.9%)

($47.9)

$560.6











Net Sales Summary – Fiscal 2013



Net Sales

Comparable Sales Change


Net Sales Change

Current YTD

Current YTD

Trailing

Current YTD Fiscal

Prior Year YTD Fiscal

Total Retail Segment

(1.0%)

($22.4)

$2,226.4




       Men's Wearhouse

1.6%

$25.1

$1,606.2

0.7%

0.8%

4.8%

       Moores

(7.2%)

($19.6)

$254.4

(4.1%)

(3.9%)

1.5%

       K&G

(8.1%)

($29.7)

$336.2

(5.5%)

(5.9%)

(4.3%)

       MW Cleaners

6.5%

$1.8

$29.6











Corporate Apparel Segment

3.1%

$7.4

$246.8











Total Company

(0.6%)

($15.0)

$2,473.2











Net sales at core flagship brand Men's Wearhouse stores, which represented 62% of total fourth quarter sales were down 6.1% from last year's fourth quarter sales while comparable sales decreased 2.5%.  On a comparable basis decreases in clothing product average unit retails and average transactions per store more than offset a slight increase in units sold per transaction. The higher margin tuxedo rental revenues comparable store sales increased 1.9% in the fourth quarter of 2013. 

Moores, the Canadian retail brand, was 10% of the total fourth quarter sales and had a comparable sales decrease of 2.3% due mainly to a decrease in clothing product average unit retails which more than offset increases in average transactions per store and units sold per transaction.  K&G was 14% of the Company's total fourth quarter sales with a comparable sales decrease of 7.7% with lower average unit retails and average transactions per store that more than offset increased units sold per transaction.  The Corporate Apparel segment, which represented 11% of total fourth quarter sales, had a sales decrease of 2.7%. 

STORE INFORMATION


February 1, 2014

 February 2, 2013



Number of Stores

Sq. Ft.

(000's)

Number of Stores

Sq. Ft.

(000's)






Men's Wearhouse

661

3,774.3

638

3,650.0






Men's Wearhouse and Tux

248

344.0

288

395.1






Moores, Clothing for Men

121

769.3

120

763.5






K&G (a)

94

2,228.8

97

2,299.3






Total

1,124

7,116.4

1,143

7,107.9







(a) 

85 and 92 stores, respectively, offering women's apparel.

Founded in 1973, Men's Wearhouse is one of North America's largest specialty retailers of men's apparel with 1,124 stores.  The Men's Wearhouse, Moores and K&G stores carry a full selection of suits, sport coats, furnishings and accessories in exclusive and non-exclusive merchandise brands and Men's Wearhouse and Tux stores carry a limited selection.  Most K&G stores carry a full selection of women's apparel.  Tuxedo rentals are available in the Men's Wearhouse, Moores and Men's Wearhouse and Tux stores.  Additionally, Men's Wearhouse operates a global corporate apparel and workwear group consisting of Twin Hill in the United States and Dimensions, Alexandra and Yaffy in the United Kingdom.  Investors can find additional information at http://ir.menswearhouse.com/.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are not guarantees of future performance and a variety of factors could cause actual results to differ materially from the anticipated or expected results expressed in or suggested by these forward-looking statements.  These forward-looking statements may be significantly impacted by various factors, including, but not limited to: actions by governmental entities, domestic and international economic activity and inflation, success, or lack thereof, in executing our internal operating plans and new store and new market expansion plans, including successful integration of acquisitions, performance issues with key suppliers, disruption in buying trends due to homeland security concerns, severe weather, foreign currency fluctuations, government export and import policies, aggressive advertising or marketing activities of competitors; and legal proceedings. Future results will also be dependent upon our ability to continue to identify and complete successful expansions and penetrations into existing and new markets and our ability to integrate such expansions with our existing operations. 

These forward-looking statements are based upon management's current beliefs or expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies and third-party approvals, many of which are beyond our control.  The following factors, among others, could cause actual results to differ materially from those expressed or implied in the forward-looking statements:  (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Agreement and Plan of Merger by and among Men's Wearhouse, Inc.,  Java Corp. and Jos. A. Bank Clothiers, Inc., (2) the failure to consummate the acquisition of Jos. A. Bank for reasons including that the conditions to Men's Wearhouse's offer to purchase all outstanding shares of Jos. A. Bank's common stock, including the condition that a minimum number of shares be tendered and not withdrawn, are not satisfied or waived by Men's Wearhouse, (3) the possibility that the expected benefits from the proposed transaction will not be realized within the anticipated time period, (4) the risk that regulatory or other approvals required for the transaction are not obtained, (5) the risks related to the costs and difficulties related to the integration of Jos. A. Bank's business and operations with Men's Wearhouse's business and operations, (6) the inability to obtain, or delays in obtaining, cost savings and synergies from the transaction, (7) unexpected costs, charges or expenses resulting from the transaction, (8) litigation relating to the transaction, (9) the inability to retain key personnel and (10) the possible disruption that may be caused by the transaction to the business and operations of Men's Wearhouse and its relationships with customers, employees and other third parties.

The forward-looking statements in this press release speak only as of the date hereof. Men's Wearhouse undertakes no obligation to revise or update publicly any forward-looking statement, except as required by law.  Other factors that may impact the forward-looking statements are described in Men's Wearhouse's annual report on Form 10-K for the fiscal year ended February 2, 2013 and Forms 10-Q.  For additional information on Men's Wearhouse, please visit the Company's websites at www.menswearhouse.com, www.mooresclothing.com, www.kgstores.com, www.twinhill.com, www.dimensions.co.uk and www.alexandra.co.uk.



Contact:

Jon Kimmins, CFO

(510) 723-8639

Ken Dennard

Dennard - Lascar Associates

(832) 594-4004

[email protected]


THE MEN'S WEARHOUSE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

(Unaudited)


FOR THE THREE MONTHS ENDED

February 1, 2014 and February 2, 2013

(In thousands, except per share data)











Three Months Ended


Variance



% of


% of




Basis


2013

Sales

2012

Sales


Dollar

%

Points










Net sales:









          Retail clothing product

$  419,130

74.77%

$  456,063

74.96%


$ (36,933)

(8.10%)

(0.19)

          Tuxedo rental services

43,504

7.76%

49,193

8.09%


(5,689)

(11.56%)

(0.32)

          Alteration and other services   

34,642

6.18%

38,172

6.27%


(3,530)

(9.25%)

(0.09)

               Total retail sales

497,276

88.71%

543,428

89.32%


(46,152)

(8.49%)

(0.60)

               Corporate apparel clothing product sales

63,276

11.29%

65,000

10.68%


(1,724)

(2.65%)

0.60

                    Total net sales

560,552

100.00%

608,428

100.00%


(47,876)

(7.87%)

0.00










                   Total cost of sales

351,758

62.75%

365,283

60.04%


(13,525)

(3.70%)

2.71










Gross margin (a):









        Retail clothing product

221,676

52.89%

249,160

54.63%


(27,484)

(11.03%)

(1.74)

        Tuxedo rental services

35,585

81.80%

41,371

84.10%


(5,786)

(13.99%)

(2.30)

        Alteration and other services

6,669

19.25%

8,032

21.04%


(1,363)

(16.97%)

(1.79)

        Occupancy costs

(73,375)

(14.76%)

(74,119)

(13.64%)


744

1.00%

(1.12)

               Total retail gross margin

190,555

38.32%

224,444

41.30%


(33,889)

(15.10%)

(2.98)

               Corporate apparel clothing product margin

18,239

28.82%

18,701

28.77%


(462)

(2.47%)

0.05

                   Total gross margin

208,794

37.25%

243,145

39.96%


(34,351)

(14.13%)

(2.71)










Asset impairment charges

2,034

0.36%

169

0.03%


1,865

1103.55%

0.34

Selling, general and administrative expenses

256,478

45.75%

249,454

41.00%


7,024

2.82%

4.75










Operating loss

(49,718)

(8.87%)

(6,478)

(1.06%)


(43,240)

667.49%

(7.80)










Net interest

(1,048)

(0.19%)

(90)

(0.01%)


(958)

1064.44%

(0.17)










Loss before income taxes

(50,766)

(9.06%)

(6,568)

(1.08%)


(44,198)

672.93%

(7.98)










Benefit for income taxes

(20,571)

(3.67%)

(3,412)

(0.56%)


(17,159)

502.90%

(3.11)










Net loss including non-controlling interest

(30,195)

(5.39%)

(3,156)

(0.52%)


(27,039)

856.75%

(4.87)










Net loss attributable to non-controlling interest

(252)

(0.04%)

(248)

(0.04%)


(4)

(1.61%)

0.00










Net loss attributable to common shareholders

$   (30,447)

(5.43%)

$     (3,404)

(0.56%)


$ (27,043)

794.45%

(4.87)










Net loss per diluted common share attributable to common shareholders

$       (0.64)


$       (0.07)















Weighted-average diluted common shares outstanding:

47,411


50,829
























(a) 

Gross margin percent of sales is calculated as a percentage of related sales.


THE MEN'S WEARHOUSE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

(Unaudited)


FOR THE TWELVE MONTHS ENDED

February 1, 2014 and February 2, 2013

(In thousands, except per share data)











Twelve Months Ended


Variance



% of


% of




Basis


2013

Sales

2012

Sales


Dollar

%

Points










Net sales:









          Retail clothing product

$1,667,535

67.42%

$1,691,248

67.97%


$(23,713)

(1.40%)

(0.55)

          Tuxedo rental services

411,864

16.65%

406,454

16.33%


5,410

1.33%

0.32

          Alteration and other services   

147,023

5.94%

151,147

6.07%


(4,124)

(2.73%)

(0.13)

               Total retail sales

2,226,422

90.02%

2,248,849

90.38%


(22,427)

(1.00%)

(0.36)

               Corporate apparel clothing product sales

246,811

9.98%

239,429

9.62%


7,382

3.08%

0.36

                    Total net sales

2,473,233

100.00%

2,488,278

100.00%


(15,045)

(0.60%)

0.00










                    Total cost of sales

1,384,223

55.97%

1,380,130

55.47%


4,093

0.30%

0.50










Gross margin (a):









        Retail clothing product

925,578

55.51%

935,200

55.30%


(9,622)

(1.03%)

0.21

        Tuxedo rental services

347,556

84.39%

349,887

86.08%


(2,331)

(0.67%)

(1.70)

        Alteration and other services

33,294

22.65%

37,301

24.68%


(4,007)

(10.74%)

(2.03)

        Occupancy costs

(290,896)

(13.07%)

(283,382)

(12.60%)


(7,514)

2.65%

(0.46)

               Total retail gross margin

1,015,532

45.61%

1,039,006

46.20%


(23,474)

(2.26%)

(0.59)

               Corporate apparel clothing product margin

73,478

29.77%

69,142

28.88%


4,336

6.27%

0.89

                   Total gross margin

1,089,010

44.03%

1,108,148

44.53%


(19,138)

(1.73%)

(0.50)










Goodwill impairment charge

9,501

0.38%

-

0.00%


9,501

NM

0.38

Asset impairment charges

2,216

0.09%

482

0.02%


1,734

359.75%

0.07

Selling, general and administrative expenses

947,665

38.32%

909,098

36.54%


38,567

4.24%

1.78










Operating income

129,628

5.24%

198,568

7.98%


(68,940)

(34.72%)

(2.74)










Net interest

(2,820)

-0.11%

(896)

(0.04%)


(1,924)

214.73%

(0.08)










Earnings before income taxes

126,808

5.13%

197,672

7.94%


(70,864)

(35.85%)

(2.82)










Provision for income taxes

42,591

1.72%

65,609

2.64%


(23,018)

(35.08%)

(0.91)










Net earnings including non-controlling interest

84,217

3.41%

132,063

5.31%


(47,846)

(36.23%)

(1.90)










Net earnings attributable to non-controlling interest

(426)

(0.02%)

(347)

(0.01%)


(79)

(22.77%)

0.00










Net earnings attributable to common shareholders

$     83,791

3.39%

$  131,716

5.29%


$(47,925)

(36.39%)

(1.91)










Net earnings per diluted common share attributable to common shareholders

$         1.70


$        2.55















Weighted-average diluted common shares outstanding:

49,162


51,026















(a) 

Gross margin percent of sales is calculated as a percentage of related sales.


THE MEN'S WEARHOUSE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)








February 1,


February 2,



2014


2013






ASSETS









Current assets:





Cash and cash equivalents

$             59,252


$            156,063


Accounts receivable, net

63,153


63,010


Inventories

599,486


556,531


Other current assets

93,206


79,549







   Total current assets

815,097


855,153

Property and equipment, net

408,162


389,118

Tuxedo rental product, net

142,816


126,825

Goodwill

126,003


87,835

Intangible assets, net

58,027


32,442

Other assets

5,125


4,974







   Total assets

$         1,555,230


$         1,496,347






LIABILITIES AND EQUITY









Current liabilities:





Accounts payable

$           148,762


$            123,983


Accrued expenses and other current liabilities

175,797


164,344


Income taxes payable

730


5,856


Current maturities of long-term debt

10,000


-







   Total current liabilities

335,289


294,183






Long-term debt

87,500


-

Deferred taxes and other liabilities

109,292


92,929







   Total liabilities

532,081


387,112






Equity:





Preferred stock

-


-


Common stock

476


725


Capital in excess of par

412,043


386,254


Retained earnings

572,712


1,190,246


Accumulated other comprehensive income

27,311


36,924


Treasury stock, at cost

(3,407)


(517,894)







   Total equity attributable to common shareholders

1,009,135


1,096,255







Non-controlling interest

14,014


12,980







   Total equity

1,023,149


1,109,235







    Total liabilities and equity

$         1,555,230


$         1,496,347


THE MEN'S WEARHOUSE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)


FOR THE TWELVE MONTHS ENDED

February 1, 2014 and February 2, 2013

(In thousands)








Twelve Months Ended



2013


2012






CASH FLOWS FROM OPERATING ACTIVITIES:










Net earnings including non-controlling interest

$          84,217


$         132,063


Non-cash adjustments to net earnings:





   Depreciation and amortization

88,749


84,979


   Tuxedo rental product amortization

32,266


28,315


Goodwill impairment charge

9,501


-


   Other

22,505


22,168


Changes in operating assets and liabilities

(48,308)


(41,795)







        Net cash provided by operating activities

188,930


225,730






CASH FLOWS FROM INVESTING ACTIVITIES:





Capital expenditures

(108,200)


(121,433)


Acquisition of business, net of cash

(94,906)


-


Proceeds from sales of property and equipment

4,127


33


Investment in trademark, tradenames and other assets

-


(2,075)







        Net cash used in investing activities

(198,979)


(123,475)






CASH FLOWS FROM FINANCING ACTIVITIES:





Proceeds from issuance of common stock

10,739


8,457


Proceeds from term loan

100,000


-


Payments of term loan

(2,500)


-


Deferred financing costs

(1,776)


-


Cash dividends paid

(35,549)


(37,084)


Tax payments related to vested deferred stock units

(3,865)


(4,421)


Excess tax benefits from share-based plans

2,145


2,997


Repurchases of common stock

(152,129)


(41,296)







        Net cash used in financing activities

(82,935)


(71,347)







Effect of exchange rate changes

(3,827)


(151)






(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS

(96,811)


30,757







Balance at beginning of period

156,063


125,306


Balance at end of period

$           59,252


$         156,063

SOURCE Men's Wearhouse, Inc.

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Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
Leading companies, from the Global Fortune 500 to the smallest companies, are adopting hybrid cloud as the path to business advantage. Hybrid cloud depends on cloud services and on-premises infrastructure working in unison. Successful implementations require new levels of data mobility, enabled by an automated and seamless flow across on-premises and cloud resources. In his general session at 21st Cloud Expo, Greg Tevis, an IBM Storage Software Technical Strategist and Customer Solution Architec...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
We are given a desktop platform with Java 8 or Java 9 installed and seek to find a way to deploy high-performance Java applications that use Java 3D and/or Jogl without having to run an installer. We are subject to the constraint that the applications be signed and deployed so that they can be run in a trusted environment (i.e., outside of the sandbox). Further, we seek to do this in a way that does not depend on bundling a JRE with our applications, as this makes downloads and installations rat...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
DX World EXPO, LLC, a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
Digital Transformation (DX) is not a "one-size-fits all" strategy. Each organization needs to develop its own unique, long-term DX plan. It must do so by realizing that we now live in a data-driven age, and that technologies such as Cloud Computing, Big Data, the IoT, Cognitive Computing, and Blockchain are only tools. In her general session at 21st Cloud Expo, Rebecca Wanta explained how the strategy must focus on DX and include a commitment from top management to create great IT jobs, monitor ...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
The IoT Will Grow: In what might be the most obvious prediction of the decade, the IoT will continue to expand next year, with more and more devices coming online every single day. What isn’t so obvious about this prediction: where that growth will occur. The retail, healthcare, and industrial/supply chain industries will likely see the greatest growth. Forrester Research has predicted the IoT will become “the backbone” of customer value as it continues to grow. It is no surprise that retail is ...