ALEXANDRIA, Va. — July 25, 2019 — CITY Laundering Co., a multi-generation, family-owned industrial laundry serving the Midwest region of the United States for more than a century, has been certified Clean Green. This certification reflects the company’s dedication to operational efficiency and sustainability. Linen, uniform and facility services companies receive this distinction by adhering to TRSA-designated water and energy use thresholds and deploying best management practices (BMPs) consistent with the ASTM International environmental laundering standard.

CITY Laundering’s customers can be assured their reusable healthcare textiles are washed, dried and finished with processes that maximize sustainability and reduce greenhouse emissions. Clean Green certified operations demonstrate significant commitment to conservation and green operations through these BMPs:

• Recovering heat from drained hot water and heat dispersed from the process of warming water;
• Recapturing drained water from rinses for reuse;
• Using environmentally friendly detergents;
• Removing solids and liquids from wastewater;
• Solar energy and energy-efficient lighting;
• Recycling programs;
• Re-routing trucks to save vehicle fuel; and
• Spill prevention plans.

The Clean Green certification is valid for three years at a time. TRSA inspects laundry facilities seeking certification and approves documentation of their water and energy use and BMP deployment through production reports they submit to auditors during the inspections. TRSA’s certification management protocol includes auditor training by the association’s inspection program administrator.

Clean Green aligns with the ASTM International standard, Guide for Sustainable Laundry Practices, which recognizes key criteria for the certification as universal indicators of maximum sustainability in commercial laundry work. ASTM’s review of TRSA BMPs verified these as the most effective and practical techniques for a laundry to achieve green objectives.

TRSA members prompted development of the standard, which was vetted in the sustainability subcommittee of the ASTM Committee on Textiles. Top technical experts, scientists and environmental professionals from outside the linen, uniform and facility services industry reviewed the BMPs. ASTM is the global leader in developing and delivering voluntary consensus standards unparalleled in building consumer confidence in product and service quality.

“I applaud CITY Laundering Co. for their sustainability efforts and maintaining the highest standards in their production and delivery operations,” said Joseph Ricci, TRSA president and CEO. “Meeting all the criteria for certification is not easy, but the company is committed to industry-leading processes and technologies.”

Posted July 25, 2019

Source: TRSA

GLEN RAVEN, N.C. — July 24, 2019 — Hydrofend™, a solution-dyed polyester designed to balance high water resistance with breathability, is now available from Trivantage, a one-stop shop for fabrics, hardware, and accessories.

“Our goal was to create a fabric that lets little water in and water vapor out,” said Dan Fouratt, director of business development for Trivantage. “Hydrofend achieves this balance.”

Applications for Hydrofend include boat covers, boat enclosures, storage covers, and furniture covers. To ensure superior performance, the fabric was designed with a tear strength starting at almost 40 pounds warp and fill. The product also comes with a five-year limited warranty.

“We are a strong believer in coated fabrics,” Fouratt said. “Through experience, we have found that coating the back of the product provides superior water resistance and protects the surface. Coated fabric does not fray in the assembly process, making our customers’ jobs easier.”

Posted July 24, 2019

Source: Trivantage

UNION, N.J. — July 23, 2019 — Bed Bath & Beyond Inc. today announced that in connection with its ongoing transformation and near-term priority to reset the company’s cost structure, it has initiated a reduction in corporate staff at its headquarters in Union, N.J., and at other select locations where corporate associates are based.  As part of this realignment, Eugene A. Castagna, president and COO of the company, departed today and the role has been eliminated.

Mary A. Winston, interim CEO, and member of the board of directors of Bed Bath & Beyond, stated, “As we reset our approach to the business transformation underway, we are executing against 4 key near-term priorities including resetting the cost structure.  While decisions that impact our staff are difficult, today’s action is an important step in simplifying our corporate structure and ensuring our resources are aligned with the business we are managing today. We remain confident in the underlying business and our ability to leverage the strength of the Bed Bath & Beyond brand and our lasting connection with customers to deliver on our near-term priorities and transform the company.”

The company recently completed a comprehensive and careful review of its corporate office cost structure, which has resulted in a reduction of approximately 7% of its corporate staff, including vice presidents, directors, managers and professional staff.  Each of the impacted associates was offered severance pay and other company support to assist them with their job transition.  The company will continue to review its cost structure to identify additional cost-savings opportunities.

Cost Savings and Fiscal 2019 Financial Outlook

These organizational changes are estimated to generate future annual pre-tax net savings of approximately $30.7 million.  Due to the timing of these changes, the pre-tax net savings for the remainder of fiscal 2019 are estimated to be approximately $18.9 million.  The company expects to incur pre-tax cash restructuring charges of approximately $12.0 million in fiscal 2019, primarily for severance and related costs in conjunction with this staff reduction, all of which will be expensed in the second quarter.

As provided during the company’s fiscal 2019 first quarter conference call on July 10, 2019, Bed Bath & Beyond Inc. expects its fiscal 2019 full year net earnings per diluted share to be at the lower end of $2.11 to $2.20, excluding goodwill and other impairments, severance and shareholder activity costs. In providing this operational guidance, the company included an estimate of the pre-tax cost savings related to today’s action to reset its cost structure.  The company expects to see a gradual, sequential improvement in its quarterly net earnings per diluted share, with the vast majority of its net earnings per diluted share to be earned in the second half of the fiscal year.

Due to the inherent difficulty of forecasting the timing or amount of items that have not yet occurred and are out of the company’s control, and that would impact its net sales, diluted net earnings per share, and the most directly comparable forward-looking GAAP financial measures, the company has not provided a reconciliation to these measures for its fiscal 2019 full year outlook on a GAAP basis. For the same reasons, the company is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures.

Posted July 23, 2019

Source:  Bed Bath & Beyond Inc.