Lojas Americanas` Board of Executive Officers

Transcrição

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Index
Introduction ........................................................................................................................3
Message from Management ................................................................................................5
Organizational Profile ..........................................................................................................8
The Company .................................................................................................................9
Awards and Recognition ............................................................................................... 11
Governance ...................................................................................................................... 12
High Standards ............................................................................................................. 13
Consolidated Practices .................................................................................................. 15
Talent Development .......................................................................................................... 20
Training for every challenge .......................................................................................... 21
Access to corporate education ...................................................................................... 24
Investing in the best ..................................................................................................... 25
Socio-Environmental Management .................................................................................... 28
Green Company ............................................................................................................ 29
Control of greenhouse gas emissions............................................................................. 30
Other Initiatives ........................................................................................................... 33
Economic Performance ...................................................................................................... 36
Profitable expansion ..................................................................................................... 37
Financial Results ........................................................................................................... 40
GRI Content ....................................................................................................................... 44
About the Report.......................................................................................................... 45
GRI Index...................................................................................................................... 48
Acknowledgements ....................................................................................................... 56
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We are pleased to present the first sustainability report for Lojas Americanas,
S.A., which was developed in accordance with internationally-recognized disclosure
guidelines developed by the Global Reporting Initiative (GRI), a nongovernmental
organization headquartered in Amsterdam, The Netherlands.
The GRI’s mission is to develop and globally disseminate guidelines for the
preparation of sustainability reports, which are voluntarily adopted by large companies
around the world.
This publication presents the economic, social and environmental dimensions
of our results, expanding our channels of dialogue with all stakeholders and focusing
on the strengthening of sustainability practices in Lojas Americanas business units.
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Sustainability: Engaging all areas of the company is our goal
For the past 84 years, Lojas Americanas has been a part of Brazilians’
lives. Bringing more convenience to our customers has always been our main goal.
Much has changed over the decades and the company continues to innovate to meet
customers’ needs, anytime and anywhere, beating their expectations and offering
them the best shopping experience.
The results achieved in 2012 demonstrate that Lojas Americanas has managed
growth with profitability. We have achieved major advances in our multi-channel
strategy. Developments in recent years are in line with the performance of our key
operating indicators.
In 2007, we created the Green Company with the aim of preparing our
organization for sustainable development, as well as engaging all areas of the
Company in pursuit of sustainability. As part of these efforts, the Company maintains a
Sustainability Committee, a multi-disciplinary body that is active in the social,
environmental and economic spheres, thereby improving the dialogue with our
stakeholders – shareholders, customers, suppliers, employees and society.
Therefore, sustainability is part of our group’s operational strategy, perfectly
aligned with our vision of being a socially and environmentally responsible company.
In 2010, the Sustainability Committee was formalized by the Board of Directors, raising
its prominence within the Company. The following year, environmental responsibilities
were included in the formal job descriptions of all positions in the organization.
In recent years we have established important partnerships with the Brazilian
GHG Protocol Program and the Getulio Vargas Foundation, and we have received
training in the emissions accounting methodology developed by the World Resources
Institute (WRI) and the World Business Council for Sustainable Development (WBCSD).
This has given us the means to measure greenhouse gas emissions from all our
business units and report, annually, on that inventory of greenhouse gases through the
Investor Relations section of our Company’s website.
In preparing our emissions inventory and calculations, we used the
methodology of the Brazilian GHG Protocol Program, of which we have been a
member company since 2009. This methodology is the most widely used and
internationally recognized by businesses and governments.
Using information gathered for the preparation of our GHG emissions
inventory, we also participated in the Carbon Disclosure Project (CDP), a nonprofit
organization with international scope, whose goal is to create a relationship between
shareholders and companies.
In 2010, BOVESPA established the Carbon Efficient Index (ICO2), a select group
of which we have been a part since its creation. The ICO2 consists of the shares of IBrX50 companies, which have adopted transparent practices with respect to greenhouse
gas (GHG) emissions. The index takes into account the degree to which a Company’s
revenue is related to GHG emissions.
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For 2013, to further strengthen our position in relation to sustainability, we are
publishing the Company’s first Sustainability Report. This report is based on the GRI’s
methodology, which is the most widely used and recognized worldwide.
Throughout 2012, we continued to enhance our multi-channel structure. Our ecommerce operation, through our B2W Digital subsidiary, is complementary to our
physical, retail operations, as there is low overlap between these channels.
Accordingly, we view this complementarity as being our main competitive advantage
within the Brazilian retail sector.
We are in the final stretch of implementing our Lojas Americanas - 80 Years in 4
- Always More Brazil Expansion Plan. In 2012, we achieved growth in consolidated
gross and net revenue, corresponding to 13.9% and 13.6%, respectively, compared to
the previous year.
For 2013, we are enthusiastically expecting the opening of our 900th store.
With our entrance in Roraima, we will be present in all Brazilian states.
The achievement of our goals is the result of the dedication of our associates,
who are steeped in an organizational culture characterized by a results-oriented
meritocracy. We believe in the potential of our team and, therefore, continue to
intensify training programs. In 2012, training hours for our associates almost doubled.
It is important to note that within our vision “to be the best retailer in Brazil,”
we are engaged in efforts such that society will see ours as a socially and
environmentally responsible company.
THE MANAGEMENT
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The Company
In the market for over 80 years, Lojas Americanas is one of Brazil’s
most innovative retail industry chains
Founded in 1929 in Niterói, Rio de Janeiro, Lojas Americanas operates a
network of department stores. Our main feature in this retail model is our guarantee
of providing customers the most convenient way to shop. We closed 2012 with 729
stores, present in all regions of the country. Of these, 271 opened in the last three
years, as part of the 80 Years in 4 - Always More Brazil Expansion Plan, which was
rolled out in late 2009. Headquartered in Rio de Janeiro, the Company has stores in
254 cities spread across 25 states, plus the Federal District.
In 2012, we opened 111 stores. In total, we have 462 traditional stores and 267
in our Express line. Each of the traditional stores has an average sales area of 1,400
square meters, daily inventory replenishment, and approximately 60,000 items.
The Express model adopts a smaller-store concept with an average size of 400
square meters, “just-in-time” logistics, and a select assortment of approximately
15,000 items, tailored to the location and customer profile of each of these stores.
Multichannel Retailer
In addition to our brick and mortar stores, Lojas Americanas is the parent
company of B2W Digital, an e-commerce leader in Brazil. B2W owns the following
brands:
Americanas.com,
Submarino,
Shoptime,
MesaExpress.com.br,
SouBarato.com.br and BLOCKBUSTER® Online, B2W Viagens, Ingresso.com and
Submarino Finance.
Thus, we operate a multi-channel service structure, reaching our customers
with a wide range of products and services through physical stores and via the
Internet, telephone, catalogues, TV and kiosks.
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Mission
Fulfill people’s dreams and satisfy their consumption needs, saving them time
and money, and exceeding their expectations.
Vision
To be the best retailer in Brazil.
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For customers, who believe their best shopping option is with us
For shareholders/investors, who regard us as offering them the best
returns in this segment
For the associates, who consider us as best option for professional
development
For suppliers, who consider us as their best distribution channel
For society, which considers our company to be socially and
ecologically responsible
Values
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Having the best people
Being a good “business owner”
Striving for excellence in operations
Focusing on customers
Doing more and better every day
Being obsessed with delivering results
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Awards and Recognition
We received the RA 1000 Seal from the Reclame Aqui (Complain Here)
website and won the Contribuintes (Contributors) and Central-West
Alshop Shopkeeper awards
In 2012, Lojas Americanas received the RA 1000 Seal from the consumer
complaints website forum, Complain Here (Reclame Aqui), for our excellent marks for
response times, solutions, and customer evaluations. Of those company-related
records on the site, 100% of the cases were attended to immediately and 96% were
solved in a convenient manner.
In addition, our Company is among Complain Here 20 Best Companies, with an
11th place ranking in their solutions index, an 18th place ranking among those
businesses with which customers are most likely to do business again, and a 16th place
ranking in the best overall index.
Lojas Americanas was also elected the preferred chain in a survey of consumers
in the state of Paraná, which was conducted by the Independent Television Group in
partnership with the Brazilian Institute of Public Opinion and Statistics (IBOPE);
securing, in Department Store category, the 2012 Unparalleled Prize - Preferred Chains
and Regional Affinity Index.
We won the Taxpayers Award, which recognizes companies that have
contributed the most in taxes to the state of Ceará. Also in 2012, for the fifth
consecutive year, we won the Central-West Alshop Shopkeeper Award, which saw our
firm competing against more than 700 other companies, winning in the Department
Stores category. The award recognizes 14 years the performance of large retailers in
Brazil’s shopping malls.
The B2W subsidiary was champion in three, Complain Here categories for
Quality Service. Submarino won in the Virtual Stores, Large Operations and Retail, and
Consumer Electronics categories, while Submarino Viagens (Travel) was the winner in
the Tourism and Leisure category.
In turn, in the shopping websites category, Americanas.com, was voted the
favorite brand in Rio de Janeiro, according to the Marca Cariocas study conducted by
the newspaper O Globo.
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High standards
Board of Directors defines the Company’s business strategy
Listed on the BM&FBovespa since 1940, Lojas Americanas S.A. has a
shareholder base comprised of preferred (LAME4) shares, and common (LAME3)
shares.
Our Company is led by its Board of Directors and Board of Executive Officers,
and supported by internal committees. The Board of Directors consists of eight
members, five appointed by the controllers, one by the minority shareholders and two
by the Board itself.
Besides electing and removing directors, and determining the distribution of
fixed compensation at the General Shareholders Meeting for its members and the
officers, it is up to the Board of Directors to orient the general business of the
Company, approving guidelines, policies and business objectives for all basic areas in
which it is active.
Currently, the Board of Executive Officers consists of ten members. According
to the provisions of the Bylaws, this body can range from two (2) to twelve (12)
directors, one who is designated as the Chief Executive Officer, with all being elected
for a period of one year, with the right to reelection. The Board of Executive Officers is
responsible for the execution of the business strategy defined by the Board of
Directors, the preparation of plans and projects and the operational and financial
performance of the Company.
Lojas Americanas also has a Fiscal Council, consisting of three members — two
appointed by the controlling shareholder and one appointed by the minority
shareholders. The Fiscal Council has powers and responsibilities that the law confers
upon it to observe legal precepts concerning requirements, impediments,
compensation, composition, installation, operation, duties and responsibilities.
Specialized committees
With an aim of supporting the Board of Directors and the Board of Executive
Officers in decision-making, committees or working groups may be created with
defined functions. At least three and not more than four members of any given
committee may be members of the Board of Directors or others. Currently, Lojas
Americanas has three committees.
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Finance Committee – Advises and assists the Board of Directors regarding all
decisions involving the financial policies of the Company, ensuring that it is meeting its
obligations.
Human Resources and Remuneration Committee – Supports decisions
involving human resource policies and remuneration by the Company to ensure that
members of the Board of Directors and Board of Executive Officers, and all associates,
have incentives to achieve exceptional results. Another function of the Committee is to
enable the correct and efficient implementation of our culture, which values constant
improvement and meritocracy, as well as the attraction, securing, retention and
development of the best professionals and leaders.
Sustainability Committee – The main responsibilities of this Committee are the
establishment of sustainable practices based on the “triple bottom line” of
sustainability (economic, environmental and social) and ensuring the involvement of
the entire Company in socio-environmental issues.
Members of the Board of Directors:
Amaury Guilherme Bier
Carlos Alberto da Veiga Sicupira
Cecilia Sicupira Giusti
Love Goel
Miguel Gomes Pereira Sarmiento Gutierrez
Paulo Alberto Lemann
Roberto Moses Thompson Motta
Steven Chad
Lojas Americanas’ Board of Executive Officers
Miguel Gomes Pereira Sarmiento Gutierrez, CEO
Anna Christina Ramos Saicali, Officer
Carlos Eduardo Rosalba Padilha, Officer
Celso Alves Ferreira Louro, Officer
Flávio de Almeida Serapião, Officer
José Timotheo de Barros, Officer
Márcio Cruz Meirelles, Officer
Maria Christina Ferreira Nascimento, Officer
Murilo dos Santos Corrêa, Chief Financial and Investor Relations Officer
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Consolidated practices
All shareholders are entitled to equal treatment in the event of a
change of control of the Company, among other guarantees.
100% tag along
Since 2006, we have maintained a commitment in our Bylaws to grant full
(100%) tag along rights to the Company’s common and preferred shares. With this, all
shareholders will receive equal treatment in the event of a change of control of Lojas
Americanas, which guarantees them the right to sell their shares on the same terms
negotiated by the controllers.
Dividends policy
The Company’s Bylaws, in line with prevailing laws, sets the minimum value of
dividends at 25% of net income after the establishment of a 5% legal reserve. In 2012,
the distribution to shareholders was R$ 79.9 million, of which R$ 50.9 million were
dividends and R$ 29.0 million was interest on equity (before tax withholding), based
on net income for fiscal year.
Share buyback program
Since 2003, the Company has had a shares repurchase program with the
objective of holding them in treasury and subsequently cancelled. The current program
provides for the buyback of up to 10,788,942 book-entry shares of common stock and
36,505,323 book-entry shares of preferred stock shares.
Shares
In addition to our preferred (LAME4) shares, which are part of the Ibovespa
index, there are the Company’s common shares, which are listed on the Special Tag
Along Stock Index (ITAG), which comprises the stock of companies that offer the same
conditions to minority shareholders in the case of a change of control.
We are also included in other important indices, such as the Brazil Index 50
(IBrX-50), Carbon Efficient Index (ICO2), Consumption Index (ICON), BM&FBovespa
Value Index (IVBX-2), the Mid-Large Cap Index (MLCX) and MSCI-Barra.
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IBRX50 - IBrX-50 is an index which measures the total return on a theoretical portfolio
composed by 50 stocks selected among BM&FBOVESPA’s most actively traded
securities in terms of liquidity, weighted according to the outstanding shares’ market
value. This index was designed to serve as a benchmark for investors and portfolio
managers, and also to allow the launching and derivatives (futures, options on futures
and options on index). IBrX-50 has the same characteristics of Brazil Index – IBrX,
which is composed by 100 stocks, but has the operational advantage of being more
easily reproduced by the market.
ICO2 - Attentive to the concerns of the world with global warming, the great challenge
facing humanity in this century, BM&FBOVESPA and the Brazilian Development Bank
(Banco Nacional de Desenvolvimento Econômico e Social/BNDES) have decided, in a
joint initiative, to create a new market index—the Carbon Efficient Index (ICO2).This
index comprises the shares of companies participating in the IBrX-50 index that have
agreed to join this initiative, by adopting transparent practices with respect to their
greenhouse gas emissions (GHGs). The index takes into consideration in its
composition, not only the free float of stocks of participating companies, but also the
efficiency levels of GHG emissions of these same companies.
ICON - The BM&FBOVESPA Consumption Index (ICON) was developed to provide a
segmented view of the stock market by measuring the performance of the stocks
issued by the companies representative of the cyclical and non-cyclical consumption
sectors. Its theoretical portfolio is composed by stocks selected among
BM&FBOVESPA’s most actively traded securities in terms of liquidity and are weighted
according to the outstanding shares’ market value (free float).
IVBX-2 - The Valor BM&FBOVESPA Index - 2nd Tier (IVBX-2) was jointly developed by
BM&FBOVESPA and the newspaper Valor Econômico, in the aim of measuring the
return on a hypothetical portfolio consisting exclusively of securities issued by
companies of excellent image among investors, classified from the 11th position down,
both in terms of market value and liquidity of their shares.
MLCX - Created by BM&FBOVESPA, the BM&FBOVESPA Mid Large Cap Index (MLCX)
and the BM&FBOVESPA Small Cap Index (SMLL) were developed to measure the
performance of the companies listed in the Exchange segmenting them by market
capitalization: the BM&FBOVESPA Mid Large Cap Index measures the return of a
portfolio composed by the large and mid market capitalization companies, whereas
the BM&FBOVESPA Small Cap Index measures the return of small capitalization
companies. The component stocks are selected among the Exchange's most actively
traded securities in terms of liquidity, and are weighted according to the outstanding
shares' market value (free float).
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MSCI - The MSCI Global Equity Indices are widely tracked global equity benchmarks
and serve as the basis for over 500 exchanged traded funds* throughout the world.
The indices provide exhaustive equity market coverage for over 70 countries in the
Developed, Emerging and Frontier Markets, applying a consistent index construction
and maintenance methodology. This methodology allows for meaningful global views
and cross regional comparisons across all market capitalization size, sector and style
segments and combinations.
Independent auditors
Pursuant to CVM Instruction No. 381, we state that, during the fiscal year
ended December 31, 2012, the independent auditors have not been paid for services
other than those related to the external audit. The Company’s policy on contracting
services unrelated to external auditing from its independent auditors ensures that
there are no conflicts of interest, nor any loss of objectivity of the part of the
independent auditors.
IR: Precise dialogue
Lojas Americanas has an Investor Relations (IR) division that is responsible for
establishing an accurate and transparent dialogue with the market (analysts and
investors or shareholders). In this same regard, the Company maintains a bilingual
website (Portuguese and English) as a communications channel that contains updated
information, as well as providing customer service via e-mail and telephone. Each
quarter, the division holds conference calls to disseminate results with analysts,
investors and those who are interested in the affairs of the Company. Among other
assignments in the IR division, included are the coordination of the production and
publication of annual and quarterly reports, as well as those that are required by law.
It is also responsible for the dissemination of market communications and relevant
facts.
Code of ethics and conduct
Our relations with associates and society are based on respect for individual
differences and a constant concern for social responsibility, especially as it regards
environmental issues, and health and safety in business management.
Thus, our Code of Ethics and Conduct contains values and commitments to be
shared by all members of the Company in relations with other stakeholders
(shareholders, customers, suppliers, service providers, government and society).
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On the first day an associate enters at the company, they participate in an
orientation program in the form of a company-presented training session, in which our
culture, vision, mission, principles, values and Code of Ethics and Conduct are
presented. Thereafter, associates sign the Code Agreement, pledging to ensure the
implementation of the rules and principles contained therein. In the document, the
Company reiterates the following commitments:
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Respect for laws
Access to education and development activities
Health and safety
Eradication of all forms of forced labor
Eradication of child labor
Harassment prevention
Combating sexual exploitation of children and teens
Combating the practice of discrimination in all its forms
Valuing diversity
Respect for freedom of association and the right to collective
bargaining
Best practices
Customer satisfaction
We want to be the first choice of our customers when they make purchases
and we make every effort and investments so that their expectations are always
exceeded.
We provide customer service channels, which can be accessed by e-mail,
telephone or via social media. All complaints are resolved with a maximum period of
72 hours.
With regard to in-store customer service, 60% of the comments from our
customers are in the form of questions or suggestions. To reduce the number of
complaints, corrective measures are taken to adjust our customer service and we also
carry out internal training programs.
In 2013, we will expand our channels of communication and develop new
research tools to measure the satisfaction of our customers. (PR5)
Our customers also expressed their satisfaction in their relationships with the
Company through the use of the Reclame Aqui (Complain Here) website
(www.reclameaqui.com.br), which also allows customers to receive feedback about
their complaints. The site takes into account the following indicators: response index,
solution index, index of customers who continue to do business with the company (in
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2012, our rating was over 80%), an average score provided by customers and the
average response time.
The score created, based on complaints received, shows that the average
response resolution time is five hours. In 2012, all complaints were answered.
In 2012, Lojas Americanas was awarded the RA 1000 Seal for its excellent
response, complaint resolution and customer evaluation ratings. Records from the site
show that 100% of the complaints received an immediate response and 96% were
resolved to the satisfaction of the customer.
Supplier relationships
Our relationships with our suppliers are based on partnership and trust. We
want to provide them with excellent distribution channels, allowing them to grow with
us.
Our suppliers must comply with the Company’s internal policies, conducting
their businesses ethically and in accordance with the contracts signed with our
organization. These contracts contain clauses that, among other things, refer to
compliance with laws and regulations, respect for employees and respect for the
environment. Besides complying with the internal policies of the Company and the
contracts that have been signed, suppliers must also satisfy the requirements of
current laws and regulations regarding the supply and use of products and services,
and they are fully responsible for the labeling on the packaging of the products that
the Company sells. In this regard, we have had no reports of mislabeling, nor any
subsequent inquiries related to this particular matter.
Society
Lojas Americanas contributes to economic growth and community
development in all regions where it operates. Year after year, the Company has grown
to generate direct and indirect jobs and tax.
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Training for every challenge
Training programs, as well as our principles are based on three pillars:
people methods and results
Based on a system of meritocracy and a commitment to a long-term vision,
through training programs and personal development, we invest in the professional
advancement of our associates. Our training is strategically focused, in which various
initiatives are adopted to promote skills, such as leadership, results orientation and
strategic vision.
Similar to the Company’s principles, the personnel development programs at
Lojas Americanas are structured on three pillars: people, methods and results. For
every challenge an associate tackles, there is a training program available to
continuously increase his/her level of knowledge and development to achieve ever
improved results.
People Pillar
People’s pillar, due to its complexity, importance and coverage is subdivided in
the fronts of culture, leadership practice and relation with society.
In Culture, our goal is to disseminate the Company’s Culture, Values and
Principles, therefore strengthening attitudes and behaviors that are the “background”
of our Management System and help us achieve our DREAM.
In Leadership Practice, we seek to form the Company’s leaders in way they can
achieve results through their teams, always confidents that “Lead is to consistently
exceed goals, with the team and doing what’s right”.
In the front of Society Relation, we share and engage our associates in the
practices of sustainable development of the Company, so we can be increasingly
recognized by society as a social and ecologically responsible enterprise.
Methods Pillar
The Methods pillar has as it’s main goal to disseminate and incorporate, on the
every level associates’ day-to-day, Management practices and tools, therefore
systematizing our way to solve problems and achieve goals and also improving our
analysis capability and decision-making based on facts and data.
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Results Pillar
The purpose of the Results pillar is to achieve performance improvement of all
areas (Commercial/Marketing, Operations and Support Areas), throughout the
qualification of the associates in the patterns of process and activities executions and
the development of the competence required for each function.
Our principles
People
 A large and challenging dream causes everyone to row in the same
direction.
 Good people, working as a team, growing as their talent permits and
being compensated for this, represent the company’s greatest asset.
 Choosing people who are better than themselves, training them,
challenging them and retaining them is management’s main job.
 Leadership by personal example is vital, both in the heroic attitudes, as
well as the small gestures of day-to-day life.
Methods
 Staying focused is essential. It is not possible to be excellent and
everything; it is necessary to concentrate on what is essential.
 Everything must have an owner who is responsible and authoritative.
Debate is good but at the end of the day somebody must make a
decision.
 Common sense is as good as great knowledge. What is simple is better
than what is complicated.
Results
 To be obsessive about costs and expenses (which are the only variables
under our control) helps maintain long-term survival.
 Understand that speed, urgency and zero complacency are long-lasting
competitive advantages.
 Ethics, hard work and consistency are the basis for our Company’s
growth.
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Profile of our associates
Our associates are our greatest asset, and we invest in education and training
to provide growth opportunities for everyone. We rely on the commitment, dedication
and efforts of our associates to support our plans for expansion. We value people who
consistently exceed their goals, who act like owners, who are always seeking out the
greatest challenges, and who strive to exceed our customers’ expectations.
At the close of 2012, Lojas Americanas had a total of 17,180 associates. They all
work full-time and have open-ended work contracts. B2W Digital does not have
associates in the Center-West or North regions of Brazil. [LA1]
Number of associates by function:
Function
Executive officers
Managers
Coordinators
Technical/Supervisory
Administrative
Operational
Apprentices
Trainees
By gender
Total
2011
Men Women
7
2
483
438
22
24
739
1.141
120
144
4.975
7.027
164
218
40
52
6.550
9.046
15.596
2012
Men
Women
8
2
506
552
33
20
1.088
1.486
127
168
5.018
7.702
207
211
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28
7.011
10.169
17.180
* The above figures were calculated as of 31/12/12. Since we hire temporary
employees only during the Easter and Christmas periods, these are not counted as of
year-end 2012.
Concerned about the welfare of its stakeholders, when hiring new associates,
Lojas Americanas gives priority to local residents who live in the surrounding regions of
its facilities. In 2012, most of top management (officers and managers) were from their
respective regions. [EC7]
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Access to corporate education
Through our internally-developed educational structure, we guide the
training of our associates
For continued, sustainable growth, we that know we need to make the best use
of the talents of our associates. Accordingly, we invest in the education, training and
development of our associates. This is why created the Americanas Development
Center (CDA) in 2005, which is an exclusive space for course work and training that can
be accessed through video conferencing or e-learning.
Our internal educational system is designed to align our strategies with the
culture, values and skills of each professional, always striving to keep our knowledge in
various fields of business management current. Besides internally-developed
materials, we seek the best universities in Brazil and the world, such as Harvard,
Stanford, and others, for training courses for our executives to allow them the
opportunity to continually raise their level of knowledge and contribute to value
generation at the Company.
Our corporate university is located in Rio de Janeiro, with facilities in São Paulo
and in eight other Brazilian states. To support the Company’s expansion plan and to
train our associates, in 2012, new complexes began to be developed with structures
designed exclusively for training.
The professional development programs conducted in 2012 were focused on
improving skills in the areas of commercial operations and leadership. The Company
offered a total of 116,677,000 work hours of training. For 2013, we are committed to
increasing the number of associates who are trained and the quantity of training
sessions offered. [LA10]
Annually, all associates in management positions who have been with the
Company for more than six months undergo a performance evaluation review. This
assessment assures our associates effective management of their performance
through individual feedback. The evaluation process has been fully computerized since
2010 and is executed through the PeopleSoft system. [LA12]
Focus on sales
The Focus on Sales course is designed to provide associates in our stores with
information about new product releases, items considered to be best bets for sales
and leveraging the Company’s results.
The courses are given both in person and via videoconferencing. The audience
consists of purchasing managers, store managers, buyers and store supervisors.
Conducted seasonally, these courses feature speakers from the Company and,
often, well-known guest speakers. Examples of the latter include television host, Xuxa
Meneghel, and actress, Giovanna Antonelli, who participated in 2012 courses. These
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artists were sponsored by suppliers as a means of motivating associates and preparing
our team for even greater sales.
On-the-job accreditation
To give an associate a professional path to improvement, we developed a
career training plan, which offers a training opportunity toward on-the-job
accreditation. The courses are given in-person and via e-learning.
The initiative is designed to increase the levels of training for operators,
supervisors, sales and other managers, allowing them to improve their job
performance, especially in the area of customer service.
In 2013, we will expand this training to associates in working in sales areas of
Lojas Americanas, which will give them the opportunity to become better trained and
prepared employees.
Investing in the best
We recruit university students and recent graduates from the best
universities in Brazil with the potential to grow within the Company
Our strategy of recruitment, selection and retention has been continuously
improved throughout our history. The investments we make in building our team only
makes sense, as we seek out people who are aligned with our values and principles,
and have a strong desire to grow and build a successful career with us from the start of
the selection process onward.
Our policy is to train our in-house talent, which has made a difference in our
business over the years. We have recruited university students and recent graduates
from the best universities in Brazil and abroad through internship, trainee and new
talent programs. They all undergo training focused on the retail sector and the
organizational culture of the Company.
Internship program
Our national internship program is focused on training college students with
the potential to become future leaders of our Company. The program lasts six months
to two years, with a workload of 30 hours per week. During this period, trainees learn
about the day-to-day operations of stores, headquarters, distribution centers and
other business units. Throughout the program, training modules are also developed
25
through which young people are able to become better acquainted with our vision,
mission and corporate values, as well as acquire the technical resources necessary to
carry out work within their areas of expertise. At the end of the program,
opportunities for advancement is great for those who do well.
New retail talent program
Created in 2011, the program is designed to educate and train future leaders of
the Company, at an accelerated rate, so that everyone can participate in the growth of
the companies in our group.
At the time they are hired as professionals, they are assigned to business
divisions, gaining immediate contact with the activities of each sector. In the first six
months, a new associate attends lectures by the Company’s managers and visits
stores, distribution centers, Customer Service Centers and other business units.
Trainee program
Every year, we hold an open registration for the Lojas Americanas Trainee
Program. As fast and dynamic as is the retail sector itself, the program provides 12
months of intensive training for young people with the profile to fill future
management positions in the Company. The steps in the selection process include:
registration, online training, skills laboratory, HR interview, final assessment and
contracting. During the first six months, trainees are familiarized with the entire
operations of the Company and they go through several corporate training programs.
In the second stage of the trainee program, participants are sent to a business division,
where they acquire on-the-job training and are given the opportunity to develop a
challenging final project.
Persons with disabilities program
Lojas Americanas seeks to promote the effective inclusion and training of
persons with disabilities in the workplace. The company offers positions, through
which associates have the opportunity to learn the routines of the retail environment
and develop new skills. Attracting candidates is accomplished through partnerships
with municipal agencies and specialized consultants, which recommend candidates to
fill vacancies in stores and distribution centers throughout the Brazil. Furthermore, in
Rio de Janeiro and São Paulo, the Company participates in the “Special Opportunities”
project, where large companies offer positions to persons with disabilities, through the
use of specialized and accessible stands.
26
Designed to inform and encourage our managers regarding the importance of
the inclusion of professionals with disabilities at Lojas Americanas, in 2012, the
Personnel and Management Department, in partnership with Rio de Janeiro’s
Municipal Department for Persons with Disabilities and a specialized consulting firm,
organized training on important subjects, such as the fundamental aspects of hiring
professionals with disabilities. The goal of this activity was to strengthen inclusion
activities that B2W has been conducting to bolster diversity by making the Company
increasingly more accessible and inclusive. As a result, we were proud that, in 2012,
there were no judgments against us in the courts that were based on the practice of
discrimination. [HR4]
Young apprenticeship project
Always with an eye toward preparing students for the labor market, in
partnership with the National Commercial Apprenticeship Service (SENAC) or
equivalent entities in the cities where our business units are located, the Young
Apprentice Project prepares students to enter our job market. Work contracts are for a
fixed term and, in exchange, these young persons make a commitment to enroll in and
attend primary or junior high school.
Benefits
Beyond benefits required by law, to provide our associates with more and
better benefits, all receive a health plan, life insurance and a restaurant or meal
voucher, as well as discounts at Americanas.com, Submarino and Shoptime. For
purchases at Lojas Americanas stores, associates can also take advantage of discounts
at all locations.
Our concern about the quality of life, welfare and training of our associates has
always been a priority in the management of our people. As a result, we also negotiate
special agreements with health spas, restaurants, and language courses at universities
– all in an effort to improve the performance of our team. Regardless of contract type,
all associates are entitled to the same benefits. [LA3]
For associates that have growth potential and above average results, the
Company has a program called School of Retail which aims to help those associates to
complete college and therefore grow further in their career. Members can apply for
the program after completing two years at the Company.
27
28
Green Company
The Sustainability Committee is active in the areas of social,
environmental and economic development, seeking dialogue with our
stakeholders
In 2007, we decided to take the critical step of engaging all areas of Lojas
Americanas in our efforts toward sustainability, developing the “Green Company”. The
initiative was implemented in our management through the formation of a multidisciplinary committee, which operates in the areas of social, environmental and
economic development, seeking dialogue with the Company’s stakeholders
(shareholders, customers, suppliers, associates and society).
The committee meets weekly to discuss and plan “Green Company” activities,
which are designed to promote the sustainable development of Lojas Americanas. For
this, we encourage consumer awareness, improvements in waste reduction and the
development of environmental projects applicable to the day-to-day realities of our
business, among other initiatives in line with our mission.
As a result of the inclusion of sustainability as part of the Company’s operating
strategy, the committee was formalized in 2010 by our Board of Directors and, a year
later, we began including environmental responsibilities in all of the organization’s
formal job descriptions.
Communicate to educate
In 2010, the Sustainability Committee launched the Green Company hotsite
within the Investor Relations website, which was designed to offer a direct means of
communication with all of our stakeholders (shareholders, customers, suppliers,
associates and society). Through this space, we also present the objectives of the
committee, the Company’s environmental policy and its carbon inventory.
On this hotsite, we publicize an exclusive e-mail address, which functions as a
direct communications channel for individuals to direct their questions and
suggestions regarding the Company’s environmental practices.
To publish information, the Committee uses a variety of communication
channels, such as Isto é LASA (This is LASA), the quarterly corporate newspaper that is
distributed to of all our associates, in which “Green Company” is a regular column; a
closed-circuit television system in the company’s elevators; pop-up computer
messaging; and booklets distributed in our stores. Our main purpose is to encourage
associates to be concerned about the environment in their day-to-day activities.
29
After the creation of the Sustainability Committee, the Associates Handbook
(distributed at the time that new hires are incorporated into the stores) underwent a
makeover, acquiring a Green Company section. Through this educational activity, new
employees come into immediate contact with the group’s sustainability culture. In
addition, the Committee created the Green Primer for distribution to associates. The
publication contains ten initiatives that can be taken daily to contribute to the
preservation of natural resources.
Flyers promoting store products are also used by the Sustainability Committee
to promote the Green Company’s activities to all customers. Distribution in our stores
throughout Brazil allows us the opportunity to directly reach our various stakeholders.
Control of greenhouse gas emissions
Accounting for emissions from all our business units through the GHG
Protocol methodology
Lojas Americanas has been a member of the Brazilian GHG Protocol Program
since 2009. Its methodology is used internationally by businesses and governments to
conduct inventories of greenhouse gases (GHG). The information obtained can be
applied to annual reports and as responses to questionnaires from other initiatives,
such as the Carbon Disclosure Project (CDP) and the Carbon Efficient Index (ICO2).
We have also established a partnership with the Brazilian GHG Protocol
Program and the Getulio Vargas Foundation, and have been trained in the emission
accounting methodology developed by the World Resources Institute (WRI) and the
World Business Council for Sustainable Development (WBCSD). We use this
methodology to measure the emissions of greenhouse gases from all of our business
units.
In 2010, the ICO2 was introduced by Bovespa and, since that time, we have
been a member of this select group. To participate in this index (whose methodology
assesses how much of a company’s revenue is dependent on GHG emissions), it is
necessary to be among the 50 most liquid companies on the stock exchange (IbrX-50).
Though this participation, we have adopted more transparent practices with respect to
GHG emissions.
30
GHG Emissions
In 2012, our direct emissions of greenhouse gases, which are derived from
stationary and mobile sources, such as distribution center forklifts and other vehicles,
among others, were approximately 1,000 tons of CO2 equivalent (tCO2eq). This means
that, compared to 2011, we increased the amount of our emissions in proportion to
our growth, as our 2011 emissions came to 841 tons of CO2 equivalent.
In 2012, Brazil experienced difficulties in relation to power generation, as the
country’s hydroelectric reservoirs were running very low due to a prolonged drought
during the year. To make up the shortfall in supply to the Brazilian grid, known as the
National Interconnected System (SIN), the use of thermoelectric power plants was
required. Accordingly, the conversion factor of kWh to tCO2eq saw a very significant
increase in the generation of emissions from all sectors of the market. However,
compared to the previous year, based on electric power consumption, we managed to
reduce consumption by 13%. [EN5]
All our business facilities have smart systems for turning off air-conditioning
units to reduce waste. This system is programmed to automatically shut down after
working hours. Other indirect emissions that we have calculated since 2010 show the
amount of emissions generated by associates’ business travel and the use of plastic
bags, as these are very relevant emission sources for our business.
In 2011, we also calculated the amount of indirect emissions generated in the
transportation and distribution of goods. We understand that logistics is critical to our
business and, therefore, is a source of emissions that must be monitored so we can act
in an effective manner. Thus, in 2012 the total emissions computed for the
transportation of products was 17,716 tCO2eq. [EN17]
31
Emissions inventory
Emissions (tCO2eq)
Scope 1 *
Scope 2 **
Scope 3 ***(¹)
2011
841
5.035
16.622
2012
1.002
9.789
17.922
Total direct and
indirect emissions
22.499
28.713
Notes:
Scope 1*: Direct emissions of greenhouse gases: According to the GHG
Protocol methodology, these are from stationary and mobile sources, which are
owned or controlled by the Company, such as forklifts in distribution centers,
vehicles, among others.
Scope 2**: Indirect emissions of greenhouse gases: Those from power
consumption.
Scope 3***: All other indirect emissions resulting from the Company’s
activities, but which occur from sources that do not belong to or are not controlled
by the Company, such as business travel, outsourced fleets, among others.
(¹)The variation in the scope 2 emissions is due to the conversion factor from
kWh to tCO2, which was changed from 0.0292 in 2011 to 0.0653 in 2012. Our
consumption in kWh was 172.441.454kWh in 2011 and 149.816.947kWh in 2012.
32
Other initiatives
Distribution Centers are being upgraded to improved energy
efficiency standards, while new stores already feature more efficient
lighting
Energy efficiency
To adapt to new energy efficiency standards, our Distribution Centers have
undergone several changes since 2009, including improvements in air circulation and
the supply of water, and 100% installation of timed flow taps. We opened 200 new
stores between 2011 and 2012, all under the energy efficient model, to reduce water
and energy consumption.
With regard to older stores, modifications are being planned and will include
the upgrading of air conditioners and lighting systems. Currently, in-store air
conditioning units are programmed to turn off automatically at closing time.
For 2013, one of our goals is to upgrade our administrative headquarters in Rio
de Janeiro to conform to Leadership in Energy and Environmental Design (LEED)
certification guidelines, the principal certification for sustainable construction in the
world. We believe that with this attitude we will provide a better and more pleasant
environment for our associates, while reducing our environmental impacts.
To control what is spent weekly for water and energy, as measured in m³ and
kWh, respectively, our engineering department has prepared an internal application
for store systems. The manager responsible for point-of-sales collects information on a
monthly basis and sends this to the Sustainability Committee, which consolidates all
data received. In some stores, this data is already being collected automatically, by
means of electronic metering.[EN26]
The only type of energy that Lojas Americanas consumes is electric. From 2011
to 2012, the Company reduced its electricity consumption by raising the awareness of
associates and implementing some general measures, such as switching to energyefficient light bulbs. [EN4]
33
Selective waste collection (trash recycling) and the use of plastic
bags
With the goal of eliminating waste and sending to the most appropriate
destinations for disposal, we are currently practicing selective collection at our
Headquarters, in our Laranjeiras and Passeio offices in Rio de Janeiro, at our
Administrative Center, as well as in all of our Distribution Centers.
We have adopted the practice of reducing the use of plastic bags in our stores,
with a script for cashiers to use to ask customers if they will need a bag prior to
packing up their products. This decision was made because many purchases are small
and/or immediate consumption items, which generally do not need a bag. In addition,
we keep reusable bags on the sales floor, on permanent display and at the checkout
lines.
To comply with Municipal Law 7008, in Joinville, Santa Catarina, and State Law
5502, in Rio de Janeiro, Lojas Americanas has adopted a variety of measures, including:
 A point-of-sales (POS) customer discount of R$ 0.03 for every five (5) items
purchased for which a plastic bag is not used (an alternative option is to
exchange 50 bags per 1 kg of food);
 Displaying, in visible areas and in wide circulation throughout our stores,
customer awareness posters regarding the improper disposal of plastic bags;
 Providing plastic bag collectors at our stores for customers who wish to return
them;
 Sending collected plastic bags for recycling;
 In cities, such as Belo Horizonte, where the law requires the use of
biodegradable bags, Lojas Americanas offers these to customers free-of-charge.
Since 2010, we have sold over 3 million reusable bags and, each year, these
sales are increasing.
To make further progress on our environmental performance, we understand it
is vital to keep track on the Company’s consumption of materials. In 2012 B2W
Digital’s consumption of materials reached 3.657 tons of which 1 is wood, 608 are
paper, 2.902 are plastic and 146 are steel. [EN1]
34
Proper lamp disposal certificate
In 2012, Lojas Americanas headquarters received a certificate from the Institute for
Environmental and Technological Development for the decontamination of 1,100
mercury-vapor lamps, through the unique Operação Papa-lâmpadas da Naturalis
Brasil method. The waste generated during the process was collected for the
institute’s operations center, such that the lamps could be deactivated and disposed of
according to current regulations. The initiative has been recognized by Brazilian
Institute of Environment and Renewable Natural Resources (IBAMA) and the Rio de
Janeiro State Environmental Institute (INEA).
Logistics Optimization
We are always looking for opportunities for improvement in our logistics
network to produce greater efficiency in our operations and reduce costs. With the
objective of optimizing the transportation of cargo, reducing the number of vehicles in
circulation and, consequently, diminishing environmental impacts, Lojas Americanas
uses a loads consolidation strategy. In this way, trucks are only cleared to leave our
distribution centers when they are fully loaded. It is common for nearby stores to
share space on these trucks.[EN29]
35
36
Profitable expansion
Positive results in 2012 are in line with investments made under the
Company’s “Sempre Mais Brasil” (Always More Brazil) program
In a competitive environment, such as the Brazilian retail market, our goal is to
profitably grow, providing customers with wide range of products and services. In
2012, retail sales increased by 8,4% in sales volume, according to the Brazilian
Institute of Geography and Statistics (IBGE).
The Company reached R$ 11.33 billion in net revenue, equivalent to a growth
of 13.6% over the previous year. Of this total, R$ 6.850 million relates to the
performance of the parent company (physical stores), which sold 13,3% more than in
2011.
The growth of Lojas Americanas, in terms of the same number of stores, i.e.
counting sales only from stores that have been in operation for more than one year,
compared to accumulated net sales in 2012 was 8% above inflation. These results are
in line with the Company’s organic expansion plan, which, since 2010, has seen 271
new stores open across the country.
Sempre Mais Brasil
In late 2009, the Company introduced its expansion plan, Lojas Americanas – 80
Years in 4 – Always More Brazil, in which it pledged to open 400 new stores in four
years; 70% traditional stores (average selling area between 1,300 m 2 and 1,500 m2)
and another 30% in the Americanas Express format (average selling area of 300 m 2 and
500 m2 ).
In 2010, 70 stores were opened, followed by another 90 in 2011. In 2012,
another 111 stores debuted. For 2013, the latest forecast suggests that 130 openings
are on their way, helping to complete the expansion program, which will have
increased the number of Lojas Americanas stores in Brazil from 476 (in 2009) to
approximately 900.
The projected growth of the Company shows a positive vision of the potential
of Brazil. At the end of 2012, Lojas Americanas had 729 stores, including 462
traditional stores and 267 Express stores. In 2012, the Company invested R$ 524.6
million focused on organic growth, store network renovation and technology
upgrades.
37
Investments in 2012 (R$MM)
Opening/improvement projects
Technology/Logistics/Operations
Rental and other
Total
434,7
51,4
38,5
524,6
New stores, new cities
Following the expansion plan initiated in 2010, Lojas Americanas has
increasingly been opening stores in new cities. At the end of 2012, the Company had
stores in 254 municipalities, and 110 more welcomed their first Lojas Americanas store
during the organic expansion plan, Sempre Mais Brasil. These included various cities in
Brazil that are outside of major urban centers. In some cities, there are less than
100,000 inhabitants, such as Sirinhaém, Pernambuco; Andradina, São Paulo;
Guarabira, Paraíba; Caldas Novas, Goiânia; Gurupi, Tocantins; Paracatu, Minas Gerais;
and Erechim, Rio Grande do Sul.
When opening a new store, Lojas Americanas takes into consideration not only
a given city’s economy, but also that of the surrounding areas. Expansion within Brazil
promotes economic growth, improving the chances for regional development. Our
results reaffirm the Company’s confidence in the development of Brazil. Stores in new
cities are usually in the traditional format, as they are farther from the distribution
centers in Rio de Janeiro, São Paulo and Recife. At the close of 2012, stores were
located in 25 states, plus the Federal District, with their distribution being 61.0% in
Brazil’s Southeast region, 17.7% in the South and Center-West, and 21.3% in the North
and Northeast.
Technology platform
Investments in technology are an important pillar of Lojas Americanas.
Continuous investment contributes to improvements in the management of the
Company and the shopping experience of our customers.
In 2012, we invested approximately R$51.4 million in upgrading the
technological platform.
The German-based, SAP ERP integrated software solution for business
management is the main software system used by Lojas Americanas. When it was
38
introduced into its operations in 1999, Lojas Americanas became the first retailer in
Brazil to migrate to this model. The software allows for tight inventory control at each
distribution center and in all stores. Sales can be tracked with a five minute delay from
each of the Company’s points-of-sale of the Company, identifying what customers are
buying and what form of payment she or he is using.
Distribution centers (DC)
In addition to its Distribution Centers (DCs) in Rio de Janeiro, Recife and São
Paulo, in February 2012, Lojas Americanas announced the creation of the Uberlândia,
Minas Gerais DC; scheduled to open in the second half of 2013, it will ensure greater
agility in supplying the stores in Minas Gerais and the Center-West and North regions
of the country.
Subsidiary investment
The B2W subsidiary invested over R$1 million in the Mobile Digital Inclusion
Center (CID Móvel) social project to meet the needs of the municipality of Osasco, São
Paulo. The Center will open in 2013. [EC8]
The project extends those digital inclusion social services being offered and is
composed of two fully-refurbished and equipped trailers, which have been exclusively
customized, complete with computers and internet access, for this purpose. The
project will offer a variety of professional, information technology (IT) courses and free
Internet access to the local population. CID Móvel’s flexibility expands the scope of
services available to the entire region’s community.
39
Financial Results
The 2012 results showed a positive variation for both the parent
company and the consolidated.
The figures continue the trends of the last six years, with growth that totaled
17.3%, since 2006, in the parent company’s net income. Lojas Americanas seeks
economic growth and improved performance every year. In 2010, there were 541
physical stores. This number increased to 621 at the end of 2011 and to 729 in 2012,
Accordingly, the Company has grown and contributed to improving the quality of life
of society as a whole through taxes, benefits and contributions.
[EC1]
Revenue
Compared to 2011, net revenue growth of the parent company was 13.3%,
reaching R$ 6.85 billion. Consolidated net income for Lojas Americanas and its
subsidiaries was R$ 11.33 billion, a growth of 13.6%. In the fourth quarter, net
revenues for the parent company grew by 9% compared to 4Q11.
Same stores
Analyzing the same stores from one year to another, given that the opening of
new outlets influence the Company’s financial results, the increase in net revenue in
2012 was 8%, in comparison to the same period last year.
40
Gross Profit/Gross Margin
Year-to-date gross profit of the parent company was 32.8% of net revenue, an
increase of 0.9 percentage points compared to a gross margin of 31.9%, which was
posted in 2011.
Sales, general and administrative expenses
In 2012, the parent company’s sales, general and administrative expenses
reached R$ 1.01 billion, or 14.8% of net revenue, representing a variation of -0.1
percentage points (pp), in comparison to 2011. On a consolidated basis, the variation
was +0.7 pp, or 16.1% of net revenues, totaling R$ 1.82 billion.
EBITDA
For the year, the Company’s Adjusted EBITDA reached R$ 1,234.6 million,
equivalent to 20.0% growth over 2011. The Adjusted EBITDA margin of the Company
for the period was 18.0%, 1.0 pp higher than the margin achieved in 2011.
Consolidated Adjusted EBITDA totaled R$ 1,572.4 million in 2012, an
improvement of 8.8% over the previous year. The consolidated Adjusted EBITDA
margin in 2012 amounted to 13.9% of net revenue, a variation of -0.6 pp compared to
the previous year.
Financial income and net income
The parent company’s accumulated net financial expense in 2012 was R$ 396.4
million, up 0.5% over the previous year. On a consolidated basis, this amount was R$
786.6 million, with growth of 8.8%.
The Company’s accumulated net income for the last twelve months was R$
391.7 million and the consolidated amount was R$ 410.2 million, an increase of 22.6%
and 20.5%, respectively, compared to the previous year.
Indebtedness
Lojas Americanas’ cash generation prioritizes investments that generate the
best returns to shareholders. Short and long term consolidated loans and debentures,
at the end of the year were R$ 6.25 billion. However, by eliminating the cash position
of R$ 4.63 billion (including cash, investments and credit/debit card receivables) of
total loans, net debt is R$ 1.6 billion, equivalent to 1.0x the EBITDA of the last 12
months. The average maturity of the debt is 35 months.
41
Absence of exchange rate exposure
Lojas Americanas’ foreign currency debts are protected against exchange rate
fluctuations through derivatives transactions (swaps), which substitute the exchange
risk for the variation in Brazil’s base interest rate (CDI).
Sales by means of payment
The Company’s cash sales experienced a variation of +2 pp in the twelve
months of 2012 compared to the previous year, reaching 60% for the Company.
Variations in the consolidated results were up +3 pp, reaching 50%. The remaining 40%
from the parent company and 50% from the consolidated company were from the
credit cards, which encompasses third-party cards and Company-branded cards
provided through Financeira Americanas Itaú and Submarino Finance.
Net working capital
At the end of the fourth quarter of 2012, the net working capital of the parent
company was in the negative by 20 days, which represents an increase of two days
compared to the negative 18 days that were registered at the end of the previous year.
Subsidiaries
B2W Digital
[All comparisons refer to the fourth quarter of 2011 and 2012]
 Gross revenue
In 4Q12, consolidated gross revenue totaled R$ 1.8 billion, an increase of 38.0%
 Net earnings
In 4Q12, net revenues of the consolidated company were R$ 1.59 billion, an
increase of 35.0%

Gross profit
In 4Q12, consolidated gross profit totaled R$ 362.3 million, up 32.4%
42

Ebitda
In 4Q12, consolidated Adjusted EBITDA was R$ 109.6 million, an increase of
7.8%
 Opening of four new distribution centers
In line with the strategy of being closer to the customer, in October 2012, B2W
opened four new distribution centers, located in the states of São Paulo, Rio de
Janeiro, Minas Gerais and Pernambuco.
 Evolution of the PROCON-SP Complaints Index
In 2012, the number of complaints registered with São Paulo Consumer
Defense and Protection agency (PROCON-SP), showed a significant reduction,
of 59%, compared to the previous year.
43
44
About the Report
This first Lojas Americanas Sustainability Report has been produced in
adherence to the international model of the Global Reporting Initiative (GRI), version
G3. Information contained in the report refers to the main activities of all business
units of the Company, including headquarters, stores and distribution centers for the
period January 1 to December 31, 2012.
To provide content included in this report, the Company involved all areas of its
operations. We worked to strengthen all channels of communication with our
stakeholders and this Report, which will be prepared on an annual basis, is an example
of our commitment to the public interest.
To contact the Company and get more clarification regarding the content of this
publication, please contact us by e-mail at: [email protected].
Application level
Lojas Americanas adheres to Level B of the GRI reporting process, self-declared,
by which the Company reports on 34 indicators. To achieve this level, the report must
satisfy all profile items, providing information on the Company’s management type
and, at least, 20 performance indicators, which include economic, environmental,
human rights, labor, society and product responsibility areas.
The first step to materiality
One of the most important guidelines published by organizations that are
current references on the subject of sustainability – the GRI and AccountAbility (AA
1000) – relates to the principle of materiality. The goal of materiality is to identify
those issues that are most relevant to a company in relation to economic, social and
environmental dimensions and the impacts these have upon the audiences with whom
a company interacts.
The definition of these critical issues is crucial to the preparation of a
Sustainability Report, as well as for communications about and the management of
sustainability at a company. Considered are the main positive and negative impacts of
an organization’s operations, products and services. In 2012, Lojas Americanas
selected specialists from among its priority stakeholders, with the intention of
understanding and analyzing what the market is saying about industry trends.
We are aware that this is an initial step toward developing a materiality process
that will be ever more consistent in the future; one that will include an expansion of
our listening to external audiences about the Company’s vision regarding the
sustainability in the marketplace.
45
Based on this first consultation, we will seek consultations that will allow us to
acquire further information to achieve the following: improve the consistency of the
reporting process; allow us to better understand the retail sector’s socioenvironmental landscape; generate inputs to help guide the development of Lojas
Americanas management for the short- and medium-term; in anticipation of business
risks, identify specific issues, which the Company needs to place before the market;
and generate inputs for the development of a strengthened materiality process.
The 2012 consultation process included interviews with four industry experts,
among other representatives who are consultants in the area of consumption, from
the Akatu Institute, the São Paulo Supermarket Association (APAS), and the Getulio
Vargas Foundation’s Retail Excellence Center (GVcev).
Our goal was to reveal the perceptions of experts about the positive and
negative impacts of the sector in social, environmental and economic terms; which of
these impacts are already being addressed by management within the sector in Brazil;
and which are still challenges for many companies in the industry.
The experts discussed over 30 issues. At the conclusion of the process, by
consensus of the management, among other respondents, we highlighted 10 as being
the most relevant:
1.
High impact on job creation.
2.
Establishment of a collection of household appliances.
3.
Supplier development.
4.
Consumer education: Communication and consciousness-raising
regarding the production and use of more sustainable products.
5.
Ensuring those rights guaranteed in the Consumer Protection Code.
6.
Reverse logistics for products and packaging (Brazilian National Policy
on Solid Waste - PNRS).
7.
Emissions monitoring and reduction in the logistics process.
8.
After sales service quality in the absence of physical stores.
9.
Supply chain mapping to guarantee product origins.
10. Information mapping on product descriptions.
46
In addition to those 10 items on which there was consensus among the experts,
another 5 were the focus of discussion during the interviews, which highlighted key
issues for retail in general:
1. Alliance between retail, industry and government.
2. Financing ecopoints through partnerships with authorized dealers and
product repair shops.
3. Encourage the reduction of planned obsolescence.
4. Improvement of working conditions by investing in employee
development and career opportunities.
5. New business solutions through a focus on service offerings.
Lojas Americanas evaluates and discusses the issues internally, always seeking
prioritize them for action in the short- and medium-term, so that this correlation is
aligned with its strategic plan, its culture, and its capacity to respond to or further
elaborate upon each.
For the next reporting cycle, the Company will seek to address other indicators
related to the topics with most impact on its business.
47
GRI INDEX (Profile 3.12)
Lojas Americanas’ GRI Sustainability Report meets the requirements for Level B, selfdeclared GRI application, according to the parameters shown on the following table:
Profile Information
Strategy and Analysis
Indicator
Description
Page/PDF Online
48
1.1
President’s Message
Message from Management
Description of principal
impacts, risks and
opportunities
Message from Management
1.2
Environmental management/Green Company
Organizational Profile
Indicator
Description
Page/PDF Online
2.1
Name of organization
Organizational Profile/The Company
2.2
Primary brands, products
and/or services
2.3
Operational structure of the
organization
2.4
Location of organization's
headquarters
2.5
Countries in which the
organization operates and
where its main operations
are located
2.6
Type and legal nature of
property
2.7
Markets served
2.8
Size of organization
2.9
Main changes during the
reporting period
Management Message
2.10
Awards received during the
reporting period
Organizational Profile/Awards and recognitions
Report Parameters
Indicator
Description
Page/PDF Online
3.1
Reporting period for
information provided
GRI Content/About the report
3.2
Date of most recent
previous report
3.3
Reporting cycle
3.4
Contact data in case of
questions regarding the
report or its contents
3.5
Process for defining report
contents
3.6
Limits of the report
3.7
Statement on any specific
limitations as to the scope
or extent of the report
3.8
Basis for preparation of the
report
3.9
Data measurement
techniques and basis for
calculation
The bases of calculation were based on the method
used by GRI and the GHG Protocol for calculating of
emissions of atmospheric gases
3.10
Restatements of information As this is the first reporting cycle, there were no
provided in earlier reports
reformulations of data.
49
3.11
Significant changes in scope,
limits, or measurement
methods applied in the
report
As this is the first reporting cycle, there is no
comparability with previous reports for changes in
scope, limits or measurement methods.
3.12
Table identifying the
location of information in
the report
GRI Content/GRI Index
3.13
Policy and current practice
with regard to seeking
external verification of the
report.
This first reporting cycle meets self-declared, Level B
requirements. Accordingly, no external verification is
necessary.
Governance, commitment and engagement
Indicator
Description
Page/PDF Online
4.1
Structure of governance of
the organization, including
committees of the highest
governance body
Corporate governance/Highest level guidelines
4.2
Chairperson of the highest
governance body
4.3
Independent or nonexecutive members of the
highest governance body
4.4
Mechanisms for
shareholders and employees Corporate governance/Consolidated practices
to offer recommendations
4.5
Relationship between
compensation and the
organization's performance
(including social and
environmental)
4.6
Processes to ensure conflicts
of interest are avoided
4.7
Qualifications of members
of the highest governance
body
4.8
Statements of mission or
values, codes of conduct and Organizational Profile
relevant internal principles
4.9
Responsibilities for the
implementation of
economic, environmental
and social policies
4.10
Processes for self-evaluation
of the performance of the
highest governance body
Lojas Americanas has a process for self-assessment of
performance of the highest governance body, but
does not describe or make public how this is
accomplished.
Lojas Americanas maintains guidelines with regard to
this issue, but it does not describe or make public the
basis of remuneration for this performance.
50
4.11
Explanation of whether and
how the organization
applies the precautionary
principle
Lojas Americanas works in alignment with the
sustainable development of the Company and
understands the importance of preserving and
properly making use of resources today, such that
they will not be limited for future generations.
Accordingly, various initiatives are being developed to
encourage changes in consumption patterns and the
use of natural resources. The actions already taken
and their goals, in relation to the subject, are in this
report.
4.12
Charters, principles or other
initiatives developed
externally
The Company's goal for 2013 is to sign pacts and
principles that encourage the adoption of socioenvironmental practices.
4.13
In early 2013, the Company became a member of the
Memberships in associations
Retail Development Institute (IDV), with the purpose
and/or domestic or
of tracking industry discussions and the development
international organizations
of best practices.
4.14
List of stakeholder groups
engaged by the
organization.
4.15
Basis for the identification
and selection of
stakeholders with which to
engage
4.16
Approaches to stakeholder
engagement
4.17
Key topics and concerns
raised through stakeholder
engagement
Performance Indicators
ECONOMIC PERFORMANCE
Indicator
Description
Page/PDF Online
Economic Performance
EC1
Direct economic value
generated and distributed
Economic Performance/Financial Results
Market presence
EC5
Variation in the proportion
of the lowest salary in
comparison to the local
minimum wage in major
operating units
The lowest salary paid by Lojas Americanas in 2012
was equivalent to the national minimum wage. The
salary schedule that we use is established based on
the salary structure for workers in that category, as
established in a collective bargaining agreement, and
signed by the employer’s industry association and the
employees' labor union.
EC6
Policies, practices and
proportion of spending with
local suppliers
Corporate governance/Consolidated practices
EC7
Local hiring
Personnel development/Training for every challenge
51
Indirect Economic Impacts
EC8
EC9
Impact of investments in
infrastructure provided for
public benefit
Economic performance/Expansion with profitability
Description of significant
indirect economic
impacts
Lojas Americanas understands that indirect economic
impacts are generated by the opening of new stores
and the development, by its subsidiary B2W, of the
Mobile Digital Inclusion Center (CID Móvel). In 2012,
Lojas Americanas generated R$ 1,055,863,000.00 in
taxes, an increase of 8.41% compared to 2011. In
addition, the company is concerned with the
generation of new jobs. For 2013, the goal is to
increase the number of new stores and to invest in
social projects.
ENVIRONMENTAL PERFORMANCE
Indicator
Description
Page/PDF Online
Materials
EN1
Materials used by weight or
volume
Environmental management/Other positive
initiatives
Energy
EN4
Indirect energy consumption
broken down by primary
initiatives
source
EN5
Energy saved due to
conservation and efficiency
improvements
initiatives
Emissions, Effluents and Waste
EN16
Total direct and indirect
emissions of greenhouse
gases
Environmental management/Control of GHG
emissions
EN17
Other relevant indirect
emissions of greenhouse
gases
Environmental management/Control of GHG
emissions
EN19
Emissions of substances that The Company does not emit substances that destroy
destroy the ozone layer
the ozone layer.
Products and Services
EN26
Initiatives to mitigate
environmental impacts
initiatives
Compliance
EN28
Amount of significant
fines and total number of Em 2012, there were no fines for
sanctions for nonenvironmental non-compliance.
compliance with laws
Logistics
EN29
Environmental impacts of
transporting products and
workers
initiatives
SOCIAL PERFORMANCE - DECENT WORK
52
Indicator
Description
Page/PDF Online
Employment
LA1
Total workforce by type of
employment, employment
contract and region.
Personnel development/Training for every challenge
LA3
Benefits provided to fulltime employees that are not
provided to temporary or
part-time employees.
Personnel development/Valuing in-house talent
Relationship Between entre workers and Governance
Percentage of employees
covered by collective
bargaining agreements
LA4
All of our employees continue to be covered by
collective bargaining agreements.
Occupational Health and Safety
Percentage of total
workforce represented in
formal health and safety
committees
LA6
All of our employees continue to be represented on
health and safety committees.
Education and Training
who receive regular reviews
of their performance and
career development.
LA12
Personnel development/Access to corporate
education
Diversity and Equality of Opportunities
Wage ratio between women
and men by employee
category.
LA14
For men and women, there is no difference in the
base salary established for any of the Company’s
heirarchicallevels.
SOCIAL PERFORMANCE - HUMAN RIGHTS
Indicador
Description
Page/PDF Online
Purchasing process
Non-discrimination
HR4
Total number of incidents of
discrimination and actions
taken
Personnel development/Valuing in-house talent
Freedom of Association
HR5
Instances in which the right
to exercise freedom of
association and collective
bargaining may have been
violated, and actions taken
to support these rights.
We stress the right of our employees to
freedom of association through internal
dissemination of the Company’s Code of
Conduct and we do not have units at significant
risk because of the activities and services
provided by the Company.
Safety Practices
HR8
Percentage of security
personnel trained in human
rights
The Company does not provide training focused
on human rights for its security team. All
security services are outsourced.
53
SOCIAL PERFORMANCE - SOCIETY
Indicator
Description
Page/PDF Online
Corruption
SO3
SO4
trained in anti-corruption
policies and procedures
Regarding the issue of corruption, our concerns are
expressed in the Company’s Code of Ethics and
Conduct. Although there is no specific training in this
area, upon entering the Company, all associates
participate in an orientation program where they are
advised about standards of conduct to be followed, in
addition to having access to the Code of Ethics.
Actions taken in response to
corruption cases
Lojas Americanas provides an anonymous
communication channel through which associates can
register complaints, which are analyzed by the
department responsible for appropriate action. In
2012, there were no reported cases related to a
violation of the Code of Ethics and Conduct.
Public Policies
SO6
Policies regarding financial
contributions to political
parties, politicians or
institutions
SO7
Number of lawsuits
In 2012, there were no unfair competition, anti-trust
regarding unfair competition or monopoly lawsuits filed against the Company.
In 2012, the Company made no donations or financial
transfers to political parties or candidates.
SOCIAL PERFORMANCE - PRODUCT RESPONSIBILITY
Indicator
Description
Page/PDF Online
Labeling of Products and Services
PR3
Type of information on
products and services
required by procedures
PR4
Nonconformities related to
the labeling of products and
services
PR5
Practices related to
customer satisfaction,
including results of surveys
Communications and Marketing
PR6
Programs for adherence to
laws, standards and
voluntary codes
Lojas Americanas is in compliance with the standards
of Brazil’s National Advertising Self-Regulation
Council (CONAR) and maintains, on a permanent
basis, an internal committee focused on customer
relations governance.
54
PR7
Cases of non-compliance
related to communications
regarding products and
services
In 2012, there were no reported cases of noncompliance with the regulations and voluntary codes
related to communications.
PR8
Complaints regarding
breaches of customer
privacy
In 2012, Lojas Americanas had no registered cases
concerning violations of privacy or losses of customer
data.
55
Acknowledgements
Coordination
Institutional Relations
Sustainability Management
Investor Relations Management
GRI consulting, writing and editing
Report Sustentabilidade
Review
Assertiva Produções Editoriais
Graphic Design and Layout
Report Sustentabilidade
Photography
Leonardo Wen
Corporate Information
Lojas Americanas (Sede)
Adress: Rua Sacadura Cabral,102, Saúde, Rio de Janeiro – RJ
CEP: 20081-902
56

Lojas Americanas` Board of Executive Officers

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