Report: RadioShack gets loan from GE Capital
New York — RadioShack has secured a financial boost from GE Capital, securing a loan of about $835 million, according to Marketwatch.com.
The loan, backed by inventory and other existing assets, will help the chain refinance the company’s outstanding bank debt and free up cash for its ongoing revamp, the report said.
McDonald’s reports Q3 improvements
Oak Brook, Ill. – McDonald’s Corporation reported positive financial results during the third quarter of fiscal 2013. The retailer’s net income grew 5% from the third quarter of the previous fiscal year, rising to $1.52 billion from $1.45 billion.
In addition, McDonald’s revenues increased 2% to $7.32 billion from $7.15 billion. Global same-store sales increased 0.9%, including 0.7% in the U.S. McDonald’s attributed the slight increase in U.S, same-store sales to the introduction of new core products and the national limited time Mighty Wings offer, as well as the Monopoly promotion. Looking ahead, the retailer expects global same-sales performance to be in-line with recent quarterly trends and flat during October.
"Our unwavering commitment to providing an outstanding restaurant experience to every customer, every time guides our plans and keeps our customers at the forefront of all we do," said McDonald’s president and CEO Don Thompson. "We are focused on delivering what our customers want most in any environment, great-tasting food served in a contemporary, inviting atmosphere at the speed and convenience that is in tune with today’s busy lifestyles. For the quarter, our results reflect McDonald’s ability to grow amid the broad-based challenges of the current environment by focusing on those areas of the business within our control."
Guitar Center opens branded Serato digital music area in Brooklyn store
Westlake Village, Calif. – Guitar Center is opening a Serato-branded digital music area in its Brooklyn, N.Y., store on Oct. 24. The 2,500-sq.-ft. area provides a space for DJs and producers to demo and buy Serato products.
"Serato has been a pioneer brand in the digital music and production industry for more than 15 years and our Brooklyn store location is the perfect home to show customers from all over what making music is all about, we’re thrilled to be partnering with them on this world-class project," said Mike Pratt, CEO of Guitar Center.