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Mattress Firm looks to raise about $100 million in IPO
New York City -- Mattress retailer Mattress Firm Holding Corp. expects to raise about $100 million in an initial public offering to pay down its debt, the Associated Press reported.
The company is offering 5.6 million shares, and expects them to price from $17 to $19 each. After expenses the company anticipates net proceeds of about $90 million.
Most of the proceeds will go toward repaying $84.4 million in debt outstanding under a loan.
Mattress Firm and its franchisees run 757 stores in 25 states.
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Retail sales see small increase for September
WASHINGTON — Retail sales edged up slightly during the month of October, the U.S. Census Bureau announced Tuesday.
Adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, sales totaled $397.7 billion. Retail trade sales rose 0.6% above September and 7.3% above the year-ago period.
Adjusted grocery store sales increased to $46.8 million from $46.3 million in September, while health and personal care stores saw adjusted sales of $23.3 million from $23.1 million last month.