Bankruptcy court approves Eddie Bauer bid
Seattle Eddie Bauer Holdings announced that Golden Gate Capital’s $286 million cash bid was approved by the bankruptcy court.
The deal is set to close in early August.
The company, which filed for Chapter 11 bankruptcy protection in June, said earlier in the month the bid was the highest and best offer in its bankruptcy auction.
Eddie Bauer has said Golden Gate’s bid would keep most of its stores open and workers on the job. Eddie Bauer gift cards will continue to be honored.
Rite Aid, ADA brush you up on oral hygiene
CAMP HILL, Pa. Rite Aid is partnering with the American Dental Association to spread the word on the importance of regular dental visits and good oral hygiene.
Afree oral care guide will be available at more than 4,800 Rite Aid stores nationwide and online at www.riteaid.com starting July 26. The 12-page oral care guide from Rite Aid contains proactive tips from the ADA to help prevent tooth decay, gum disease and gingivitis as well as information on how gum disease may be linked to overall health.
As an added incentive to encourage customers to take charge of their oral health, the purchase of select oral care products of $15 or more July 26 to Sept. 26 will qualify through the Single Check Rebate program for a free Summer Fun tote with $10 worth of magazines, sugarless chewing gum and other items.
Starting July 26, visitors to Rite Aid’s online health information center at www.riteaid.com/health can view flossing and brushing demonstrations, brush up on additional oral health information and learn about oral health through interactive games.
Ebay sees large increase in 2Q revenue
SAN JOSE, Calif. Ebay announced that it posted second quarter revenue of $2.1 billion, a $97.7 million year-over-year decrease. The company recorded net income on a GAAP basis of $327.3 million or 25 cents per diluted share, and non-GAAP net income of $478.6 million or 37 cents per diluted share.
GAAP operating margin decreased to 19.6% for the quarter, compared to 24.8% for the same period last year. Non-GAAP operating margin decreased to 28.7% for the quarter, compared to 31.9% for the same period last year.
“We drove solid second quarter results, with strong momentum and market share gains at PayPal and continued stabilization in our core eBay business,” said eBay Inc. President and CEO John Donahoe. “We are managing our business with focus and discipline, delivering on our commitments while investing in our growth priorities. I’m pleased with our pace, our progress and our performance.”