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Cerberus reportedly seeking financing for Supervalu deal

BY Katherine Boccaccio

New York — Multiple reports on Monday suggested that private equity firm Cerberus Capital Management, which owns Albertsons LLC, may be putting together a deal to buy all or part of the grocery chain.

Cerberus is said to be seeking $4 billion to $5 billion in debt financing from banks to back a bid and is looking at investing $800 to $900 in equity in its takeover quest, a person familiar with the matter is reported to have said. That same source cautioned that the figures could change.

Supervalu put itself up for sale in July. Cerberus has been generating its own headlines of late, especially for its backing of Best Buy founder Richard Schulze in his attempt to acquire his old company.

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Cerberus has been generating its own headlines of late, especially for its backing of Best Buy founder Richard Schulze in his attempt to acquire his old company.

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Cerberus is said to be seeking $4 billion to $5 billion in debt financing from banks to back a bid and is looking at investing $800 to $900 in equity in its takeover quest

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Coach exceeds profit expectations for Q1

BY Katherine Boccaccio

New York — Coach Inc. reported Tuesday that profit for the quarter ended Sept. 29 rose 3% to $221.4 million, compared with $215 million for the same period last year and beating Wall Street expectations.

Sales surged 11% to $1.16 billion, in line with forecasts, and same-store sales in North America rose 11%, bolstering the luxury retailer’s results for the quarter. In China, same-store sales also rose by double-digits.

“With regard to China, our position is an accessible luxury brand which means our price points are 40-60% lower than the average European luxury brands,” Lew Frankfort, CEO, said. “So our products are more in reach for the emerging middle class.”

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Restoration Hardware IPO to raise about $120 million

BY Staff Writer

Corte Madera, Calif. — Restoration Hardware Holdings Inc. is expected to raise about $120 million from its Initial Public Offering, should it sell the 5.2 million shares at between $22 and $24 each that the retailer said it is expecting to sell.

Restoration Hardware will sell 4.9 million shares in the offering, according to a Reuters report, while selling stockholders will sell the rest.

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Feb-09-2013 10:25 pm

Restoration Hardware puts vintage American fixtures and fittings into homes old and new. The company sells upscale home and outdoor furnishings, garden products, hardware, bathware, lighting, textiles, baby and child products, and more through about 85 retail and outlet stores in 30 states, the District of Columbia, and Canada. It also markets products through its catalogs and e-commerce sites (more than 40% of overall sales). Founded in 1980, Restoration Hardware was taken private in 2008 by Catterton Partners and Tower Three Partners in a deal valued at about $175 million. In 2012 the high-end home accessories retailer went public.

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