FINANCE

Wal-Mart Sells $2.5 Billion in 30-Year Bonds

BY CSA STAFF

New York City, Wal-Mart Stores Inc. sold $1.5 billion in 30-year bonds on Wednesday, according to JP Morgan. Initially, Wal-Mart planned to sell $2.0 billion. Before the sale, demand for the bonds was expected to be high since 30-year corporate bonds are relatively rare. This sale is Wal-Mart’s second offering since Aug. 8, when it issued $800 million of five-year notes, according to Bloomberg data.

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FINANCE

2Q Profit Up at Williams-Sonoma

BY CSA STAFF

Bentonville, Ark., Williams-Sonoma said quarterly profit rose nearly 12% on strong demand at its Pottery Barn and Pottery Barn Kids stores. Net revenues for the second quarter ended July 31, 2005, increased 12.6% over the second quarter of fiscal year 2004 to $776.2 million. Earnings rose to $30.8 million, or 26? a share, for the quarter, up from $27.6 million, or 23? a share, a year earlier.

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News

Saks Department Store CEO Resigns

BY CSA STAFF

Birmingham, Ala., Saks Inc. announced the resignation of George Jones, president and CEO of the retailer’s Saks Department Store Group. The resignation is effective Sept. 30.

Replacing Jones effective Sept. 15 will be Toni Browning. Browning held the post of president and CEO of Saks’ Proffit’s/McRae’s unit, which was sold to Belk last month.

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