REAL ESTATE

Sports Authority makes Puerto Rico debut with new format

BY Staff Writer

Englewood, Col. — Sports Authority has debuted a new format at its first-ever store in Puerto Rico. The store, in Ponce, opened on Oct.19.

The 35,000-sq.-ft. location features an “intuitive” that makes it easier than ever for customers to find exactly what they need, the retailer said. With specialty sport shops and a spacious new layout, the store was designed specifically to enhance the shopping experience.

“We are excited to celebrate the grand opening of our first Puerto Rico location,” said Michael E. Foss, CEO of Sports Authority. “We admire Puerto Rico’s sporting legacy and are excited to introduce the brand to a new market. We look forward to providing great value and outstanding service to the families, athletes and fans in the Ponce community.”

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FINANCE

Report: RadioShack gets loan from GE Capital

BY Marianne Wilson

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.

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FINANCE

McDonald’s reports Q3 improvements

BY Dan Berthiaume

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."

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