Report: Analyst Says Williams-Sonoma Risks Breaching Financial Covenant in 4Q
Chicago Shares of Williams-Sonoma may trade lower in the coming months amid growing concern that the parent company of the Williams-Sonoma and Pottery Barn brands may violate a financial covenant, a Barclays Capital analyst said, the Associated Press reported.
Analyst Michael Lassert said the retailer could encounter problems with its $300 million credit facility by the end of its fiscal fourth quarter in February.
“What this would likely pose more headline risk than actual liquidity risk, we believe the uncertainty would weigh on the shares in the near term,” Lassert told investors in a research note published Tuesday, according to the report.
Lassert said he expects the chain will try to amend the covenant, which could increase borrowing costs.
Report: Target launches new fashion program
NEW YORK According to reports, Target is launching a new fashion program, Target Designer Collaborations, with an apparel line by Alexander McQueen.
The McQueen collection, called McQ Alexander McQueen for Target will be available in stores next spring.
Target’s fashion push comes shortly after the company announced that it would limit store openings and would consider a proposal for the spin-off of its real estate business.
Fresh & Easy to open stores in Bakersfield, Calif.
BAKERSFIELD, Calif. Fresh & Easy Neighborhood Market announced it will open its first two stores in Bakersfield, Calif. on Dec. 3. Fresh & Easy currently has five announced locations in Kern County.
“At Fresh & Easy, we offer fantastic products at incredible prices so you don’t have to compromise on what you feed your family,” said Fresh & Easy ceo Tim Mason. “We look forward to bringing great jobs and quality, affordable food to neighborhoods in Kern County.”