News

J.C. Penney taps $850 million from credit facility

BY Marianne Wilson

Plano, Texas — J.C. Penney Co. on Monday announced it has drawn $850 million from its $1.85 billion revolving credit line. The company said it will use the proceeds to fund working capital requirements and capital expenditures including replenishing inventory in anticipation of the completion of for its newly overhauled in-store home departments, which are due to be unveiled next month.

"As we near completion of the home department transformation in over 500 stores, we have been undertaking and will continue to experience a significant inventory build and increase in capital expenditures," said CFO Ken Hannah.

Penney said it would continue to explore additional capital-raising alternatives with the help of its financial advisers.

The company says the drawing of the funds provides more than its current funding needs to ensure continued liquidity but it is also looking to explore other alternatives to raise more money.

keyboard_arrow_downCOMMENTS

Leave a Reply

M.Dai says:
Apr-23-2013 11:12 am

DIN86029 PN10 flange DIN86030 PN16 flange

M.Dai says:
Apr-23-2013 11:12 am

DIN86029 PN10 flange DIN86030 PN16 flange

M.Dai says:
Apr-22-2013 09:19 am

DIN2641 flange DIN2642 flange DIN2655 flange DIN2656 flange

M.Dai says:
Apr-22-2013 09:19 am

DIN2641 flange DIN2642 flange DIN2655 flange DIN2656 flange

M.Dai says:
Apr-16-2013 03:13 am

Positive site, where did u come up with the information on this posting? I have read a few of the articles on your website now, and I really like your style. Thanks a million and please keep up the effective work.
Flange

M.Dai says:
Apr-16-2013 03:13 am

Positive site, where did u come up with the information on this posting? I have read a few of the articles on your website now, and I really like your style. Thanks a million and please keep up the effective work.
Flange

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Deloitte Consumer Spending Index holds steady

BY Marianne Wilson

New York — The Deloitte Consumer Spending Index ticked down slightly in March, but has remained relatively steady with a reading over 4.0 the past five months. The Index tracks consumer cash flow as an indicator of future consumer spending.

"The drastic ups and downs among factors including wages, home prices and unemployment claims have subsided, delivering more stability to the Index, which remains at a level consistent with real personal consumption growth of around 2 percent at an annual rate," said Patricia Buckley , director, economic policy and analysis, Deloitte Services LP, and author of the monthly Index. "Rising real home prices and small but steady consumer spending increases are among factors suggesting the country may be poised for growth this year, should the economy avoid negative impacts from Europe’s financial troubles or the debt ceiling debate this summer."

The Index, which comprises four components — tax burden, initial unemployment claims, real wages and real home prices — fell slightly this month to 4.12 from a reading of 4.37 the previous month.

"Consumers have maintained their level of spending in recent months and retailers should be encouraged by the economic signals," said Alison Paul , vice chairman, Deloitte LLP and retail & distribution sector leader. "However, retailers do not have the wind entirely at their backs this month: Consumers with their tax refunds may be a welcome sight in April, but the month will come without the usual Easter holiday to boost sales. Retailers should simultaneously focus on consumers’ pent up demand and tax refunds, coaxing shoppers to leave behind the winter’s chill and replace the items that were on the back burner, while giving them a promotional incentive to combine those purchases in the retailer’s store."

keyboard_arrow_downCOMMENTS

Leave a Reply

M.Dai says:
Apr-16-2013 03:39 pm

I stumbled over here coming from a different web aԁdress and thought I might check things out. I like what I see so now i am following you.13cAT07 Look forward to exploring your web page yet agaіn.Take a look at my websitе .
ANSI Flange

M.Dai says:
Apr-16-2013 03:39 pm

I stumbled over here coming from a different web aԁdress and thought I might check things out. I like what I see so now i am following you.13cAT07 Look forward to exploring your web page yet agaіn.Take a look at my websitе .
ANSI Flange

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Former CDW exec in driver’s seat at Cars.com

BY CSA STAFF

CHICAGO — Former CDW executive Barbara Mousigian has been appointed VP of product for Cars.com, an online resource for buying and selling new and used cars.

Mousigian will be responsible for defining the company’s product strategy. She will also oversee the development and launch of new products and help her team enhance Cars.com’s existing properties.

"As we push ourselves for rapid growth via the rollout of successful new products, our commitment to innovation is more important now than ever," said William Swislow, Cars.com’s chief information officer and SVP of product. "I’m confident Barbara’s strong and diverse business background will be a major asset as we continue to build effectiveness and hone the strategy of our product organization."

With 16 years of Web leadership experience and a robust marketing background, Mousigian has worked in a variety of industries, including e-commerce, consumer packaged goods and marketing services. Mousigian was a senior director at CDW, leading strategy and day-to-day operations for the company’s multibillion-dollar e-commerce business, including mobile, search engine marketing and social media components.

"At its core, a product organization should take all available information, research and customer insights and translate those into the solutions people need, delivered just before they realize they need them," said Mousigian. "I am very excited to join an industry leader like Cars.com that is committed to the consumer experience and embraces testing, trying new things and challenging the boundaries of their arena."

Mousigian earned her bachelor’s degree in economics from Princeton University and her strategy and marketing-concentrated MBA from University of Chicago Graduate School of Business.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...