News

New Duckwall-ALCO Store to Carry Products by Bass Pro Shop

BY CSA STAFF

Abilene, Kan., Duckwall-ALCO announced that a new ALCO store will open in November in Girard, Kan. The store will be the company’s first to carry products by Bass Pro Shops. In addition to carrying branded Bass Pro Shops’ hunting, fishing and outdoor gear, the new Girard, Kan., store will also include branded RadioShack products, much like the company’s Abilene, Kan., store.

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FINANCE

Petco Animal Supplies Ratings Removed From Watch

BY CSA STAFF

New York City, Standard & Poor’s Ratings Services said today that it lowered its ratings on Petco Animal Supplies Inc., including lowering the corporate credit rating to ‘B’ from ‘BB’. All ratings are removed from CreditWatch, where they were placed with negative implications on July 14, 2006.

On July 14, 2006, Petco accounted that it had entered into a merger agreement with affiliates of Leonard Green and TPG in a transaction valued at approximately $1.9 million. The company has $200 million of rated debt.

“The downgrade reflects a significant increase in financial risk following the LBO of the company,” said Standard & Poor’s credit analyst Robert Lichtenstein.

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FINANCE

Bed Bath & Beyond 2Q Profit Up

BY CSA STAFF

New York City, Bed Bath & Beyond reported that its second-quarter net income rose to $145.5 million compared with $141.4 million during the year-earlier quarter. Comp-store sales rose 4.8% during the first half of 2006, compared with an increase of 4.4% a year earlier. The company said quarterly sales rose to $1.6 billion from $1.4 billion a year ago.

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