FINANCE

Best Buy to boost five-year bond issue to $500 million

BY Katherine Boccaccio

New YorkBloomberg reported that Best Buy Co. has increased the size of its first bond offering since 2011 from $350 million to $500 million as it prepares to repay an equal amount of notes due July 15.

According to the report, who cited an unidentified source, the five-year securities may yield 5%; proceeds may be used to refinance debt, fund working capital or repurchase stock.

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OPERATIONS

British grocer Morrisons says it will close gap on rivals by 2015

BY Katherine Boccaccio

London — Wm Morrison Supermarkets said Thursday it will have the technology systems, online presence and c-store counts by 2015 to significantly close the gap on its closest competitors.

Britain’s No. 4 grocer trails Tesco, Wal-Mart’s Asda and J Sainsbury in annual sales. Its CEO Dalton Philips is optimistic about the chain’s ability to compete. “I’ve only been here three years,” he told Bloomberg. “There was no plan for online, there was no plan for convenience and we had systems, which were 20th century.”

The chain is leveraging a $448 million investment to add “21st-century systems,” he said, including accounting, supply chain management and automated cash-handling solutions.

"We found ourselves five, even 10 years, behind. While we have made real progress in closing the gap, we are not there yet, but we will have done so by 2015," Philips said.

In May, Morrisons acquired online grocer Ocado to enter the home-delivery market.

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Burger King expands home delivery to Salt Lake City

BY Katherine Boccaccio

Miami — Burger King Worldwide said that it has now added Salt Lake City to the list of markets employing home-delivery.

"BK Delivers is already performing well in Boston, New York, Miami, Houston, Los Angeles, Chicago, San Francisco Bay Area, Las Vegas, Sacramento, greater Washington, D.C., Phoenix and Denver,” said Petru Pusta, director retail innovation, Burger King Worldwide. The program allows consumers in each delivery zone to customize and order Burger King menu items by phone or online.

Burger King currently has one delivery restaurant in Salt Lake City serving West Valley City, Taylorsville and Kearns. This initial location will serve as a training ground for the market, with plans to expand the service to additional locations including a site in downtown Salt Lake City within the next two-to-three weeks.

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L.Eccleston says:
Jan-23-2014 01:05 pm

One of the company's branches
One of the company's branches,operating expenses business for sale extension of your business , can be very expensive . Simply because a lot of successful franchise businesses were successful.The stock market appreciates your business, but only takes into account future growth. This can prove to be a very profitable business.

L.Eccleston says:
Jan-23-2014 01:05 pm

One of the company's branches,operating expenses business for sale extension of your business , can be very expensive . Simply because a lot of successful franchise businesses were successful.The stock market appreciates your business, but only takes into account future growth. This can prove to be a very profitable business.

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