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Sears Holdings obtains $500 million loan — with some help from Eddie Lampert
Sears Holdings Corp. announced it obtained a 15-month $500 million secured loan facility. ESL Investments, the company controlled by Sears chairman and CEO Edward Lampert, helped provide part of the loan and is entitled to related fees.
Sears said $250 million of the 15-month loan was funded on Friday with the remainder being accessible in the future.
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Duluth Trading expanding its store base
Brand awareness and sales growth are accelerating at Duluth Holdings where the company’s rapidly expanding store base is so young it won’t be able to report same-store sale growth until 2017.
Belleville, Wisconsin-based Duluth Holdings, known to customers as Duluth Trading Company, grew sales 27.5% to $140.4 million and net income increased 25.8% to $17.5 million, or 58 cents a share, during the quarter ended Jan. 31. For the full year, total sales rose 31.2% to $304 billion. Net income grew 16.1% to $27.4 million, or $1.06 a share.

