FINANCE

Staples Selling Senior Notes, Paying Down Debt

BY CSA STAFF

Framingham, Mass. Staples Inc. said Monday it will sell debt to reduce its outstanding commercial paper loans, its 2008 credit agreement and its revolving credit facility.

The company did not provide details about how much debt it would sell or what the yield on the debt would be, saying that the offering will be made only by prospectus and prospectus supplement.

The company registered with the Securities and Exchange Commission in December to sell an indeterminate amount of senior unsecured debt at indeterminate prices. The debt will rank equally with other unsecured debt, according to the registration.

In December, the company also said it voluntarily reduced the total commitment under its existing credit agreement to $2.75 billion from $3 billion.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

99 Cents Only posts 3Q sales growth

BY CSA STAFF

COMMERCE, Calif. 99 Cents Only Stores reported that total sales for its fiscal 2009 third quarter increased 8% to $351.1 million from $325 million for the same quarter last year.

The company reported a same-store sales increase of 4.2%.

 

Eric Schiffer, CEO of 99 Cents Only Stores, stated, “We are pleased with our solid third quarter sales performance, which underscores the strength of our business model and ability to attract new customers and achieve strong sales results in a challenging consumer economic environment. The increase in traffic from new and existing shoppers helped lead to an increase in both average ticket and the number of transactions in the third quarter. We believe that a growing number of shoppers are attracted to our deep value proposition and turning to our stores for more of their everyday household needs including many perishable and other consumable items.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

500 agree to Best Buy buyout

BY CSA STAFF

MINNEAPOLIS About 500 employees at Best Buy’s headquarter’s agreed to take voluntary buyouts, the company reported, representing a 12.5% reduction in work force.

Best Buy said that based on the number of employees who accepted the offer, it expects to recognize in its fiscal fourth quarter a charge of approximately $60 million for this voluntary program.

The program was announced in mid-December as part of Best Buy’s plans to reduce future non-customer facing expenses.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...