Annual Review 2011 - The Nuance Group

The Nuance Group
Annual Review 2011
The Bigger Picture
Newsletter for Nuance team members
Roberto Graziani
President & CEO
We begin 2012 on
a strong and stable
footing
Welcome to the
latest edition of
The Bigger Picture
Team member communication
and engagement
With a global operation spread across four continents,
it is important that we actively engage and communicate
clearly with our team members across the business
through open two-way dialogue. During the year, we
introduced several new internal communications platforms
and initiatives, ranging from regular newsletters at
corporate and regional level to local team member forums.
We plan to invest further in this area, with a number of new
initiatives planned for roll out in the year ahead.
The satisfaction and engagement of our team members
is very important to us. We strive to give a voice to all
employees through regular staff surveys in order to better
understand how people feel about Nuance and help us
develop an appropriate response. In early 2011, we
gathered feedback from employees in Europe, Australia,
North America and India, and have developed a number
of local action plans to help us further improve the ways in
which we meet the expectations of our employees.
As 2011 draws to a close, I’d like to take a few moments to
reflect on the past 12 months. What a year it’s been!
Challenging, tiring, and at times I’m sure frustrating, but I do
hope you agree with me that it’s all been worth it. We can be
proud of what we have achieved this year.
In 2011, we have launched innovative store concepts, received
numerous industry accolades and strengthened our presence in
our core markets, ensuring that we move forward into 2012 on
a solid footing with much to look forward to. But it doesn’t stop
there, with significant developments in North America and
Europe set to land in the first half of 2012, we have some busy
times ahead. Hopefully this will also be the case in Hong Kong,
where after a challenging period in preparing the core category
tenders, we are very excited about what we could add to our
already superb offer should we successfully retain this business.
There has also been much to celebrate, from the 50 year
anniversary of the opening of our first airport shop to the historic
debut of Switzerland’s first Arrival stores, are just a few of the
key events in our global highlights of 2011.
By the close of this year, we will have further improved our
financial performance, helped in part by the positive results of
2010, which enabled us to continue on our path of steady growth
and investments for the future. Whilst our industry will no doubt
continue to be tested in the year ahead, we do begin 2012 in on
a strong and stable footing. With the renewed focus on growth,
we are well placed to develop our international portfolio as we
continue to build a world-class innovative retailing business.
I am proud and grateful for what we have achieved, and I thank
you for your ongoing efforts, support and professionalism. Let
me end by wishing you and your loved ones a Merry Christmas,
a peaceful and relaxing holidays and a happy and prosperous
New Year!
With Seasons Greetings,
December 2011
Contents
2 2011 Highlights
3 Launching new
walk-through
Duty Free stores
at Zurich
4 Getting to
know…
Derek Larsen,
CEO Nuance
Australia
5 Our news
6 A day in the life
of…Esther Luk,
Senior Manager,
Retail Operations
& Administration,
Hong Kong
7 Congratulations
and celebrations
Connect
European Newsletter
Andrea Belardini CEO Europe
Welcome
2011 is coming to an end.
The year of our 50th
Anniversary promised to
be a landmark year and
we have not been
disappointed.
The new European Duty Free Store concept,
has now opened also in our home base of
Zurich. We have also seen a number of new
concepts rolled out in Specialty including
sunglasses, gifting and toys (center parks). A
number of on-going key projects and an
organisational structure that is further
strengthening are just a few of our recent
achievements.
We enter the New Year with a bigger tool
box. Yet, as we can clearly see, the year
ahead once more, appears challenging due
to the economic climate, lower consumer
confidence and increased competition.
Life is like a mirror,
we get the
best results when
we smile at it Unknown author
We enter the New Year with a bigger tool box.
Yet, as we can clearly see, the year ahead once
more, appears challenging due to the economic
climate, lower consumer confidence and
increased competition.
More than ever we are switching from a business
of “selling” to our customers, to a business of
“gaining” them. No doubt the redesigned
training program that will be launched before
March will be a welcome addition to our tool
box. However I am convinced that the strongest
tool is still within us…and it is as simple as a
smile. Smiling costs nothing and gives a lot, it is
contagious and is the gift that keeps on
giving…It’s so obvious how good it feels to share
a smile that sometimes we tend to forget.
Let me wish you and your families a Happy New
Year full of serenity and success and of course,
full of smiles.
IN THIS ISSUE CEO Europe Welcome | Business Update p2 | Focus on…p3 | Marketing Initiatives… p4 | The Opinion of... p5
Congratulations and Celebrations p6 | Getting to know me... p7 | A day in the life of… p7 | Question & Answer p8
AUTUMN / WINTER 2011
Time to Give – We Care, We Share, Hong Kong
team members volunteer service programme
29
Rewarding great service
We take pride in delivering great service to our
customers and are pleased that many of our team
members were recognised for their efforts in 2011.
Supporting our communities
at home and overseas
In 2011, we continued our commitment to support a
number of very special initiatives and causes, both close
to our locations and also elsewhere. All these initiatives
are close to our hearts and made possible through
the tremendous efforts of our team members.
We congratulate them for the way in which they are
helping to make a difference.
UK team member activities supporting those
with life threatening illnesses
Financial statements Review of 2011 Overview