EBay makes $3.5 billion debt offering
San Jose, Calif. – EBay is offering $3.48 billion in debt bonds in a sale that will close July 28. EBay intends to use the net proceeds from the offering, for general corporate purposes including loan repayments.
$400 million of the debt will mature in 2017, with the rest coming due in stages through 2024.
The offering is being made through an underwriting syndicate led by Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC, as joint book-running managers, and Barclays Capital Inc., BNP Paribas Securities Corp., BNY Mellon Capital Markets, LLC, Credit Suisse Securities LLC, HSBC Securities Inc., Mitsubishi UFJ Securities, Inc., RBC Capital Markets, LLC, RBS Securities Inc., Standard Chartered Bank and The Williams Capital Group, L.P., as co-managers.
‘Solid’ start in fiscal 2015 for Supervalu
Supervalu posted $5.23 billion in net sales for the first quarter, a decrease of 0.1% from $5.24 billion last year; but president and CEO Sam Duncan expressed confidence in the company’s performance, saying it is off to a solid start across business segments.
“Our first quarter results reflect the investments we are making this year to position the company for future success and I am pleased with our operating performance,” said Duncan.
Save-A-Lot’s net sales for the quarter were $1.35 billion, a 6.5% increase from $1.27 billion last year, driven by a network identical store sales increase of 5.6%. Identical store sales for corporate stores within the Save-A-Lot network were up 7.2%.
The company’s Independent Business net sales for the quarter were $2.4 billion, a decrease of 2.6% from $2.46 billion last year, primarily due to lost accounts including lower sales to one New Albertson’s banner that completed the transition to self-distribution and lower military sales, partially offset by net new business.
Retail Food net sales for the quarter remained flat compared to last year’s $1.43 billion. Identical store sales were up 0.6%.
On March 21, 2013, the company completed the sale of five retail grocery banners — Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market.
Supervalu operates 3,320 stores, which include 1,805 independent stores serviced primarily by the company’s food distribution business, 1,325 Save-A-Lot stores, of which 931 are operated by licensee owners; and 190 traditional retail grocery stores.
Survey: Meineke top national brand for digital marketing
Denver – Auto repair services retailer Meineke has been ranked as the national, multi-location brand that performs best in digital marketing in a survey by location marketing automation provider Placeable. The company’s NatLo Top 30 identifies and ranks the most successful large digital marketers in the U.S. by using a set of local search and location-based marketing criteria to assess their performance.
To compile the ranking, Placeable analyzed 280 brands across selected industries, including retail, banking, restaurant and hospitality. Evaluating the critical elements of local marketing, Placeable calculated a NatLo Score from zero to 100 for each brand. The NatLo Score measures a brand’s location-based digital marketing power by examining its performance across four key dimensions of local online marketing: visibility, depth, precision and reach.
The national brands leading the inaugural NatLo Top 30 rankings include:
2. Nationwide Insurance
3. Papa Murphy’s
4. Best Buy
7. State Farm
8. Holiday Inn/Express
9. Super 8
10. Days Inn