Report: Goldman Sachs arranges $1.75 billion J.C. Penney loan
New York — Goldman Sachs has put together a $1.75 billion financing package for J.C. Penney Co., with the loan backed by the retailer’s real estate and other assets, according to CNBC.
The news, which has not yet been confirmed by Penney, comes a day after investor George Soros reported a 7.9% stake in the company. Goldman also has not responded to a request for comment.
Earlier this month, Penney borrowed $850 million from its $1.85 billion revolving credit facility to boost its cash position and buy inventory.
News of the fresh financing package came one day after billionaire investor George Soros reported a 7.9% passive stake in Penney.
GNC Holdings profit rises in Q1
Pittsburgh — GNC Holdings reported Friday that net income for the quarter ended March 31 rose 12.5% to $72.6 million, compared with $64.5 million in the year-ago period.
Revenue increased 6.5% to $664.7 million, from $624.3 million last year. Same-store sales advanced 1.9% in domestic company-owned stores (including online sales).
Davie Bowie pop-up shop, Selfridges, London
A match made in heaven. That’s what some are calling the David Bowie dedicated pop-up in Selfridges’ renowned London flagship. Called David Bowie Is All Yours, the pop-up was created in collaboration with London’s Victoria & Albert Museum’s record-breaking retrospective of the legendary performer.
The Selfridges shop is as colorful and bold as the artist it celebrates. The eclectic merchandise lineup includes bespoke Bowie product, otherwise available only at the V&A, T-shirts, limited edition prints and collectors items. A selection of the most iconic Bowie albums is available in all original vinyl discs.
The fashion quotient is high. Decades, the famed Los Angeles vintage fashion emporium, has curated a special collection inspired by Bowie’s iconic style. Featured items include sequined, gold and silver numbers from an emerging Gianni Versace and Yves-Saint Laurent jackets echoing Bowie’s look for his “Man Who Fell to Earth” film and his Marlene Dietrich persona. The shop also features items from Selfridge’s current designer lineup that the retailer believes reflect Bowie’s unique sensibility.
And in a neat touch that’s only fitting considering Bowie’s penchant for dramatic looks, Selfridges has teamed up with beauty company Illamasqua, known for its intense colors, to offered daily makeovers and one-off master classes drawing on the artist’s famous make-up personalities.
The Bowie shop at Selfridges is open until August 11, 2013.