Finance & Capital Management

Seattle - Nordstrom Inc. has completed a new five-year, $800 million senior unsecured revolving credit facility. The new facility replaces an $800 million senior unsecured revolving credit facility that was scheduled to mature in March 2018.

The revolving credit facility may be used for general corporate purposes and is scheduled to mature in April 2020. At present, there are no outstanding borrowings under the revolver.

Despite bad publicity from a “60 Minutes” report alleging carcinogens in some of the hardwood it sells, Lumber Liquidators increased sales in the first quarter of 2015.

Oak Brook, Ill. - McDonald’s USA has decided to give employees a break, in the form of higher pay, paid time off and educational assistance. McDonald’s is raising starting wages at company-owned restaurants in the U.S. one dollar more than the locally-mandated minimum wage, as of July 1.

Rite Aid's pharmacy and front-end divisions helped the retailer post a 4.3% gain in same store sales for March. 

Fort Worth, Texas - General Wireless Inc., an affiliate of Standard General LP, has officially received U.S. Bankruptcy Court approval to acquire the inventory and assume leases of 1,743 RadioShack stores following a bankruptcy auction. The company operates a long-term partnership with Sprint, and Sprint will provide services, products and accessories at some stores.

The stores will feature emerging technologies, as well as the traditional accessories and DIY for which RadioShack is known. Approximately 1,440 stores will be co-branded with Sprint.

Liquidation leaders in merger deal Retailers looking to realize maximum value when they close stores or liquidated inventory have a new ally following the merger of two industry leaders.

Gordon Brothers Group and AccuVal-LiquiTec announced that Gordon Brothers Group’s Valuation & Advisory Services Division and AccuVal-LiquiTec have entered into a merger to form Gordon Brothers-AccuVal.

The newly formed group will operate as a wholly owned subsidiary of Gordon Brothers Group, already one the world’s leading disposition and appraisal firms.

New York -- There’s been a change at the top at Saks Fifth Avenue. On Thursday, Saks parent company Hudson’s Bay Company announced that company veteran Marc Metrick, 41, is replacing Marigay McKee as president of Saks Fifth Avenue, effective April 2, 2015. It’s a return of sorts for Metrick, who is HBC’s executive VP and chief administrative officer. He spent the first 15 years of his career at Saks Fifth Avenue, ultimately becoming its chief strategy officer, before joining the leadership team of HBC in 2012 as chief marketing officer.

Springfield, Mo. – Los Angeles-based private equity group Leonard Green & Partners is reportedly in talks to acquire a stake in specialty outdoor retailer Bass Pro Shops. According to the Wall Street Journal, Leonard Green may make an offer that would value the privately-held Bass Pro at between $4 billion and $5 billion, including debt.